Answered2 years ago
Can I use monthly transfers of ฿65,000 for my retirement visa application in Thailand?
I do have a Bangkok Bank account and i am looking to move to Thailand in a year or so as a retiree.
Is it possible for me to start transferring ฿65k each month to that account now, and during the year, use some of that money on regular tourist trips.
Then next summer apply for the “retirement visa” using the monthly income method right from the start?
I know that the common method is to get a regular ฿800 000 deposit to start the extension, but I cannot find any information if you already have proof of 12 month regular deposits to your Thai bank account, that this can be used as basis for your FIRST extension.
Is it possible for me to start transferring ฿65k each month to that account now, and during the year, use some of that money on regular tourist trips.
Then next summer apply for the “retirement visa” using the monthly income method right from the start?
I know that the common method is to get a regular ฿800 000 deposit to start the extension, but I cannot find any information if you already have proof of 12 month regular deposits to your Thai bank account, that this can be used as basis for your FIRST extension.
Answer summary
The user inquires about the possibility of transferring ฿65,000 monthly to their Bangkok Bank account before applying for a retirement visa in Thailand. The community responses clarify that for the first year of a Non-O visa, applicants must deposit ฿800,000 in their Thai bank account or provide income verification from their embassy. The monthly transfer method (฿65,000) can only be used starting from the second extension after the initial year's requirement is met. Users suggest ensuring compliance with immigration office rules and considering embassy income affidavits if applicable.
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John ********
Unfortunately it's a NO YOU will have to have the
*****
0thb in the bank account for the first year, even then you will have to speak to your immigration office to see if they will accept the *****
thb per month after the end of your first year as I believe that some will not
Steve **********
The IO is only concerned with the 65k deposit via FTT ( foreign transfer ) every month.
You can withdraw same day, or use ir as your atm account.
You can withdraw same day, or use ir as your atm account.
Bob **********
No on your first non-o they require 800k in your name only from a foreign transfer then you start transferring 65k+ a month and use that on your 2nd extension
Asim **********
Thailand has a new 5 year visa, to be renewed once every 6 months _ for digital nomads if u have 15 k usd in a bank in home country. Check it out.
Glenn *****
@Asim *********
I believe it is only twice in 5 years
Tony ********
@Asim *********
they have proposed, not delivered yet. And at a headline value it reads you could stay for 5 years as long as you leave for at least 1 day a year. I'm pretty sure thats not the government intention, and and they have to work out the rules to prevent that if its not their intention, eg extending the 180 days by 180 days may only be allowed once within the visa life, or you might have wait 180 days between visits, we have to wait and see.Asim **********
@Tony *******
dont speculate. It was annnounced 2 days ago. lets see what happensTony ********
@Asim *********
just trying to say they havent delivered yet, and when they eventually do, we only know the headlines so far, not the rules, so its too early to recomend them at the moment, other than wait and see.Asim **********
Enjoy guys🙌🏽
Radost **************************
@Asim *********
bullshit, you can stay 6 month in the 5 years time of the visa and you can extend only 1 time in this 5 yearsAsim **********
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290#
Neil **********
@Asim *********
hi Asim. I never heard of this option, would be interesting to know more about it personally. Any idea where I can find the details on this. Much thanks.
Bjorn ********
OP@Asim *********
the new rules appears to be interesting. As usual, the devil will be in the details, but I certainly would welcome the opportunity to be a “snow bird” with long stays abroad but with a remaining home base. Let’s see how this works out when the details are published.
Jan ******************
@Bjorn *******
what’s your nationality? You have a typical scandinavian name. I ask because your embassy might offer to give you a affidavit letter to confirm your income, and if so you’ll don’t need to prove income or funds in any other way.Bjorn ********
OP@Jan *****************
I have a norwegian passport but I have lived as a resident in the US my adult life, so Norway has no records of my social security income. And the US doesn’t provide income affidavits. Thanks for answering the question. I was wondering why this hasn’t come up before (now I know!).
I am sure this method would have been good for many near-retirement age. If it only had been possible.
I do also want to thank the moderators for their great work. At this point, I think I am better versed in Thai immigration minutiae than I am in the American rules!
Jan ******************
@Bjorn *******
Ok, I understand. Unfortunately there’s no way around the 800K baht for the first year until you’re able to prove twelve months consecutive transactions to a thai bank. Siden du har vært så lenge borte fra Norge, har du vel også kun krav på en mindre pensjon fra Norge etterhvert som ikke når opp til minstekravet for opphold.
Bjorn ********
OP@Erik **********
and from experience, I can vouch for the Norwegian embassy being VERY helpful and accommodating in all matters.Jan ******************
@Erik **********
Yes you can. Just contact the embassy in Bangkok and they will issue you a affidavit letter valid for six months. You’ll then don’t need to prove income or funds in any other way as long as you can meet the formal requirement of 65K baht a month in pension/income. (40K baht for marriage).
Erik ***********
@Jan *****************
Does this mean that I (as a Norwegian citizen) can apply directly for an extension based on age or marriage with an affidavit from the Norwegian Embassy based on the 65K without the first year based on 800K? Thank you.Brandon ************
Unfortunately, this won't be possible. The ONLY way to convert to non-O visa in Thailand is with 800,000 baht in a Thai bank account OR income verification from your embassy. The 65,000 is not accepted for conversion.
The ONLY way to apply for the first 1-year extension based on a non-O over 50 visa is with 800,000 baht in a Thai bank account OR income verification from your embassy. The 65,000 is not accepted for the first 1-year extension.
It's the SECOND 1-year extension that you can use the monthly transfers for. So during the first year that you got with 800,000 you could have the transfers going on and then for your extension you can use your proof of transfers. Be sure not to let your account go below 800,000 for 3 months after you receive your previous extension and never let it drop below 400,000 until you get your next extension based on the transfers.
The ONLY way to apply for the first 1-year extension based on a non-O over 50 visa is with 800,000 baht in a Thai bank account OR income verification from your embassy. The 65,000 is not accepted for the first 1-year extension.
It's the SECOND 1-year extension that you can use the monthly transfers for. So during the first year that you got with 800,000 you could have the transfers going on and then for your extension you can use your proof of transfers. Be sure not to let your account go below 800,000 for 3 months after you receive your previous extension and never let it drop below 400,000 until you get your next extension based on the transfers.
Joe ********
@Brandon ***********
helpful. I am in the process of moving over and will plan to retire. I won’t have a pension but a large number of money in 401k and investmentThe validation letter, is that to verify an actual monthly pension only or can they verify a total net worth showing I have more than enough ?
I was planning on dropping the 800k in a Thai account as I would typically keep 2-4 times that amount liquid but if I can hold it elsewhere it gives me more options
I am coming from the US
Brandon ************
@Joe *******
There are only 2 ways. First is 800,000 baht in a Thai bank account in your name only.The 2nd is INCOME verified by the embassy. It has nothing to do with money in the bank and outside of the country. But that is irrelevant to you because the US embassy does not verify income.
Glenn *****
@Brandon ***********
mo need I have done ot recentlyBrandon ************
@Glenn ****
if your embassy certifies income, many immigration offices will only accept embassy certified income and will not accept monthly transfers. You would need to check with your immigration office on their policy. You would need to get this every year for your extension.Glenn *****
@Brandon ***********
yes but to clarify, after the first year, embassy vetification is not neededJoe ********
@Brandon ***********
thanks. I thought that was the case but it seems when conflicting information sometimesBrandon ************
@Joe *******
it MUST be monthly and it MUST show that it was transferred from outside of Thailand. You cannot open a bank account remotely. In person only.
Joe ********
@Brandon ***********
question, the requirements for showing a monthly deposit of *****
baht. I assume you need to make monthly or would they accept a larger deposit less often (quarterly) that averages that amount? The reason is simplicity. Move over larger amount (ideally when the exchange is good) and cut down and any transfer fees.
I am back in the states after being over for 5 months. Anyone have suggestions on best approach to transferring money and thoughts on issues with opening a bank account remotely vs just going back in a tourist visa than setting up all this when I arrive?
Brandon ************
@Joe *******
you can look into the OA visa if you don't want to keep 800,000 in a Thai bank account.Joe ********
@Brandon ***********
thanks
Jim ********
@Brandon ***********
Unless switching from an OA visa, then it can be done without the 800k. It's the only "hack" to avoid tying up the 800kBrandon ************
@Jim *******
I guess it depends on if you're willing to pay for insurance every year in order to avoid that. But with the potential reduction in insurance requirement coming, it may become a better option. Note: the OA to monthly payments thing is not accepted at every immigration office.
Jim ********
@Brandon ***********
Some people pay 3x this amount for a dodgy visa through an agent!Brandon ************
@Jim *******
mostly depends on age. I've seen some people show insane quotes in the 70s and 80sJim ********
@Brandon ***********
The cost of insurance easily is nowhere near the loss of interest and especially now the criteria is dropping back to ******
, where you can pick up a useless policy (but one that ticks the box) for 7700 baht
Darrell ********
@Bra****
, thank you for this CLEAR explanation! For the income verification, from the U.S. embassy. Say I have an official Depatment of Veterans Affairs letter that shows the exact amount of monthly pension payments. Would that be good enough, if I can even get that notarized, for proof of income? Just something I wonder about.
Steve *******
@Darrell *******
US embassies don’t do income verificationDarrell ********
@St***
, got it! I see that they stopped doing it back in 2019. :-(Bjorn ********
OP@Brandon ***********
a very clear explanation. Thanks!Activity
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