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Can I use monthly transfers of 65k baht as proof of funds for a retirement visa extension after an ED visa?
Oct 24, 2021
5 years ago
Nick *******
ORIGINAL POSTERIm 54.
I want to learn the language so thinking of an ED visa for my first 12 months stay and during that time, I will transfer 65k bht every month into my Bangkok Bank account.
My question is, once my ED visa finished and I then firstly applied for an O visa and then an extension, would the previous 15 monthly 65k deposits qualify as proof of funds for the extension or would I still have to put in the 800k?
I want to learn the language so thinking of an ED visa for my first 12 months stay and during that time, I will transfer 65k bht every month into my Bangkok Bank account.
My question is, once my ED visa finished and I then firstly applied for an O visa and then an extension, would the previous 15 monthly 65k deposits qualify as proof of funds for the extension or would I still have to put in the 800k?
TLDR : Answer Summary
The user is exploring the possibility of transitioning from an ED visa (for language learning) to an O visa with an extension, using monthly transfers of 65k baht to qualify for the financial requirement for the extension. Responses indicate that the monthly transfers, provided they meet the requirement for twelve consecutive months without gaps, can be used as proof of funds. Experts clarify that while it's possible to switch from an ED visa to a retirement extension without needing a Non-O visa, maintaining the necessary funds in the Thai bank account remains crucial.
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Tod *********
The previous year's monthly transfers of a minimum of 65K baht a month into a thai bank account in your name only WOULD be okay and meet the requirement
BUT
You wouldn't get a Non-O visa
IF you were on an ED visa with a year of 90 day extensions, when you wanted to switch off it to an extension based on retirement you don't need a Non-O visa (you only needed a Non-Immigrant type one and the original ED visa fills that requirements)
All you really are doing is changing the reason for your extension to one from education to one based on retirement.
You get a document from your school stating that on xxx date you stop studying, you go to the immigration office, cancel your current extension, and immediately apply for the year extension based on retirement for 1900baht.
BUT
You wouldn't get a Non-O visa
IF you were on an ED visa with a year of 90 day extensions, when you wanted to switch off it to an extension based on retirement you don't need a Non-O visa (you only needed a Non-Immigrant type one and the original ED visa fills that requirements)
All you really are doing is changing the reason for your extension to one from education to one based on retirement.
You get a document from your school stating that on xxx date you stop studying, you go to the immigration office, cancel your current extension, and immediately apply for the year extension based on retirement for 1900baht.
Tod *********
i know someone on an ED visa/extensions right now who is doing exactly that same thing (transferring in 65K baht a month into their thai account) and they will cancel their ED extension and go to one based on retirement as soon as they have 12 months of transfers 🙂
Nick *******
ORIGINAL POSTER@Tod ********
Thanks, really helpful. 👍 Reply to
Nick *******
Reply
Mike *******
Or leave it in your own bank till 4 months before you apply for retirement visa. You only need the 800k in 2 months before applying for the visa. Why go through hassle of monthly transfers.
Nick *******
ORIGINAL POSTER@Mike ******
Got to leave at least 400k in Thai bank permanently. I don’t want dead money sitting in an account.Mike *******
@Nick ******
you need that either way. Your balance can never drop below 400k. Somif you're putting in 65k monthly you still need to have the 400k anyway I believe. Ivan ************
@Mike ******
you don't need any money in the account if you are doing the income method, just monthly transfers in that case.Nick *******
ORIGINAL POSTER@Mike ******
From my understanding, it’s one or the other. Fund with the *******
k OR 65k pm OR a mixture of the two.Mike *******
@Nick ******
cool. But your other issue currently is that all Ed visas are only 8 months. At least till the surrounding borders open. I'm in your same boat and have been told by 3 schools that it's only 8 months now. Nick *******
ORIGINAL POSTER@Mike ******
No issue as I’m in no rush. Can all be done when things get back to normal.Mike *******
@Nick ******
I'm going December 29th, so fingers crossed normal is summer, but sadly I think there will not be a normal for years. Fingers crossed. Nick *******
ORIGINAL POSTER@Mike ******
Think from January, restrictions will be fully lifted but will be a long while before it’s back to absolute normal with same amount of visitors etc. Enjoy your stay 👍.Mike *******
@Nick ******
thank you. You as well. Reply to
Mike *******
Reply
Brett **********
Do you actually need to get an ed visa in first place? I know you can't work on a retirement visa but don't think taking classes is an issue. Seems like you'd be wasting money unnecessarily. I could be wrong but that was my understanding
Nick *******
ORIGINAL POSTER@Brett *********
I don’t ‘need’ to get an Ed but here’s the logic. If I went straight in on an O visa then extension, I’d need to put 800k in the bank for the extension, which is essentially dead money. This way I kill 2 birds with one stone. Firstly, I want to learn the language and the Ed visa forces me to attend classes, even if I’m hungover. Secondly, I get to use the 65k method straight away for the extension application as my preferred method for proof of funds.Brett **********
@Nick ******
fair enoughReply to
Brett **********
Reply
Kool *******
Immigration requires that your bank statements for the past year must show that each month your bt65k+ was received by the Thai bank from an overseas source. If any month is missed, or the amount is less than bt65k, you start all over, and that year won't count. If you can afford it, it is much easier to just leave bt800,000 in a Thai bank account in your name, and never touch it.
Nick *******
ORIGINAL POSTER@Kool ******
Not really the answer to my question but thanks anyway.Kool *******
@Nick ******
as long as you transfer the money the right way, yes, it will work.Reply to
Kool *******
Reply
Stephen **********
Following
Bobby ********
As long as you can show 65k/month for the previous 12 calendar months as international transfers you'll be right
Reply to
Bobby ********
Reply
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