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Can I use my IRA brokerage account for the 800,000 baht requirement for an OA visa in Thailand?
OA VisaVisa RequirementsThai ImmigrationBrokerage AccountsRetirement AccountsWithdrawalsThai Bank Account
Feb 26, 2021
5 years ago
Nicky *********
ORIGINAL POSTERI plan on applying for my OA visa in April. My question is for the 800,000 baht required, can I use my brokerage account from my IRA as my bank statement? I have more than enough in that account? Or do I need to remove it and put it in a bank?
I have access to it immediately if I need it as Iโm over 59 1/2.
I just do not want to pull it out if I donโt need to...
I have access to it immediately if I need it as Iโm over 59 1/2.
I just do not want to pull it out if I donโt need to...
TLDR : Answer Summary
The question pertains to using funds from an IRA brokerage account to satisfy the 800,000 baht requirement for the OA visa in Thailand. Responses indicate that the funds must typically be in a Thai bank account in the applicant's name to meet the requirements for the visa application and subsequent extensions. There are some suggestions to contact the Thai consulate for specific guidance, as they may allow proof of funds from overseas accounts for initial application purposes.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
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If U withdraw $26,000 plus from your pretax account U will pay income tax at your current rate plus if this puts U in a higher bracket. Consider taking to an Agency for options = short term higher fees but long term savings. Also, know that Thai banks offer NO parachute, i.e. FDIC. Thin LONG TERM...
Taz **********
Check with your local embassy that you will be applying
Some embassyโs are still showing that you can use your income
Eg. if you receive an income that equals 800,000 THB / year or combination of income plus savings
This if your local embassy accepts this for your initial O/A visa can not be used for an extension 12 months later as Iโm sure now most embassies are not issuing the income letter statement & also immigration no longer accepts this for O/A visas
Some embassyโs are still showing that you can use your income
Eg. if you receive an income that equals 800,000 THB / year or combination of income plus savings
This if your local embassy accepts this for your initial O/A visa can not be used for an extension 12 months later as Iโm sure now most embassies are not issuing the income letter statement & also immigration no longer accepts this for O/A visas
Tod *********
Here lemme help you get the answer
Here's their email, and you can cut-n-paste what I posted and send it to them.
๐๐ถ,
๐ ๐ฎ๐บ ๐ฎ๐ป ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ๐ป ๐ฎ๐ป๐ฑ ๐ด๐ผ๐ถ๐ป๐ด ๐๐ผ ๐ฎ๐ฝ๐ฝ๐น๐ ๐ณ๐ผ๐ฟ ๐ฎ ๐๐ฒ๐ฎ๐ฟ-๐น๐ผ๐ป๐ด, ๐บ๐๐น๐๐ถ-๐ฒ๐ป๐๐ฟ๐ ๐ก๐ผ๐ป-๐๐บ๐บ๐ถ๐ด๐ฟ๐ฎ๐ป๐ ๐ง๐๐ฝ๐ฒ ๐ข-๐ (๐๐ผ๐ป๐ด ๐ฆ๐๐ฎ๐) ๐๐ถ๐๐ฎ ๐ถ๐ป ๐๐ฝ๐ฟ๐ถ๐น. ๐ ๐๐ถ๐น๐น ๐บ๐ฒ๐ฒ๐ ๐ฎ๐น๐น ๐๐ต๐ฒ ๐ฟ๐ฒ๐พ๐๐ถ๐ฟ๐ฒ๐บ๐ฒ๐ป๐๐ ๐ฏ๐๐ ๐ต๐ฎ๐ฑ ๐ฎ ๐พ๐๐ฒ๐๐๐ถ๐ผ๐ป ๐ฎ๐ฏ๐ผ๐๐ ๐๐ต๐ฒ ๐ฝ๐ฟ๐ผ๐ผ๐ณ ๐ผ๐ณ ๐ณ๐๐ป๐ฑ๐.
๐ง๐ผ ๐บ๐ฒ๐ฒ๐ ๐๐ต๐ฒ ๐ฝ๐ฟ๐ผ๐ผ๐ณ ๐ผ๐ณ ๐ณ๐๐ป๐ฑ๐ ๐ฟ๐ฒ๐พ๐๐ถ๐ฟ๐ฒ๐บ๐ฒ๐ป๐ ๐ฐ๐ฎ๐ป ๐ ๐๐ต๐ผ๐ ๐บ๐ ๐๐ฅ๐ ๐ฏ๐ฟ๐ผ๐ธ๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐ ๐ฏ๐ฎ๐น๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ฟ ๐ฑ๐ผ๐ฒ๐ ๐ถ๐ ๐ป๐ฒ๐ฒ๐ฑ ๐๐ผ ๐ฏ๐ฒ ๐ถ๐ป ๐ฎ ๐๐ฎ๐๐ถ๐ป๐ด๐/๐ฐ๐ต๐ฒ๐ฐ๐ธ๐ถ๐ป๐ด ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐?
๐ง๐ต๐ฎ๐ป๐ธ ๐๐ผ๐ ๐ถ๐ป ๐ฎ๐ฑ๐๐ฎ๐ป๐ฐ๐ฒ ๐ณ๐ผ๐ฟ ๐๐ผ๐๐ฟ ๐ฎ๐ป๐๐๐ฒ๐ฟ.
Here's their email, and you can cut-n-paste what I posted and send it to them.
*****************************
๐๐ถ,
๐ ๐ฎ๐บ ๐ฎ๐ป ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ๐ป ๐ฎ๐ป๐ฑ ๐ด๐ผ๐ถ๐ป๐ด ๐๐ผ ๐ฎ๐ฝ๐ฝ๐น๐ ๐ณ๐ผ๐ฟ ๐ฎ ๐๐ฒ๐ฎ๐ฟ-๐น๐ผ๐ป๐ด, ๐บ๐๐น๐๐ถ-๐ฒ๐ป๐๐ฟ๐ ๐ก๐ผ๐ป-๐๐บ๐บ๐ถ๐ด๐ฟ๐ฎ๐ป๐ ๐ง๐๐ฝ๐ฒ ๐ข-๐ (๐๐ผ๐ป๐ด ๐ฆ๐๐ฎ๐) ๐๐ถ๐๐ฎ ๐ถ๐ป ๐๐ฝ๐ฟ๐ถ๐น. ๐ ๐๐ถ๐น๐น ๐บ๐ฒ๐ฒ๐ ๐ฎ๐น๐น ๐๐ต๐ฒ ๐ฟ๐ฒ๐พ๐๐ถ๐ฟ๐ฒ๐บ๐ฒ๐ป๐๐ ๐ฏ๐๐ ๐ต๐ฎ๐ฑ ๐ฎ ๐พ๐๐ฒ๐๐๐ถ๐ผ๐ป ๐ฎ๐ฏ๐ผ๐๐ ๐๐ต๐ฒ ๐ฝ๐ฟ๐ผ๐ผ๐ณ ๐ผ๐ณ ๐ณ๐๐ป๐ฑ๐.
๐ง๐ผ ๐บ๐ฒ๐ฒ๐ ๐๐ต๐ฒ ๐ฝ๐ฟ๐ผ๐ผ๐ณ ๐ผ๐ณ ๐ณ๐๐ป๐ฑ๐ ๐ฟ๐ฒ๐พ๐๐ถ๐ฟ๐ฒ๐บ๐ฒ๐ป๐ ๐ฐ๐ฎ๐ป ๐ ๐๐ต๐ผ๐ ๐บ๐ ๐๐ฅ๐ ๐ฏ๐ฟ๐ผ๐ธ๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐ ๐ฏ๐ฎ๐น๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ฟ ๐ฑ๐ผ๐ฒ๐ ๐ถ๐ ๐ป๐ฒ๐ฒ๐ฑ ๐๐ผ ๐ฏ๐ฒ ๐ถ๐ป ๐ฎ ๐๐ฎ๐๐ถ๐ป๐ด๐/๐ฐ๐ต๐ฒ๐ฐ๐ธ๐ถ๐ป๐ด ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐?
๐ง๐ต๐ฎ๐ป๐ธ ๐๐ผ๐ ๐ถ๐ป ๐ฎ๐ฑ๐๐ฎ๐ป๐ฐ๐ฒ ๐ณ๐ผ๐ฟ ๐๐ผ๐๐ฟ ๐ฎ๐ป๐๐๐ฒ๐ฟ.
Tod *********
To get the initial O-A visa in YOUR country from a thai consulate before you come here you can indeed show proof of funds in your country.
Email the thai consulate you're going to apply at and ask them. You've got plenty of time to get the answer and make adjustments to your banking if you need to.
Email the thai consulate you're going to apply at and ask them. You've got plenty of time to get the answer and make adjustments to your banking if you need to.
Janin ******
Asking for OA in your country only require proof of 800.000 in any bank. But the one year extension requires that amount in a Thai bank, or proof of income of 65.000 a month.
Nicky *********
ORIGINAL POSTER@Janin *****
I have no interest in 65k baht per month. My OP has nothing to do with this answer. Greg ********
@Janin *****
65k THB per monthJanin ******
@Greg *******
Yes correct Reply to
Janin ******
Reply
Kathy ****************
Are you getting a 1 year or 5 year?
Kathy ****************
Yes they do, or at least this past November, Had to have $18,000. In an account in my name only... This was for a 1year OA retirement visa..
Tod *********
@Kathy ***************
I think you are confusing getting a year extension from an O-A visa INSIDE the country and buying an O-A visa at a thai consulate in your country OUTSIDE thailand Reply to
Tod *********
Reply
Joe ***********
For an O-A visa it is processed in the Thai Embassy or Consulate in your home country. 800,000 Baht Equivalent must be in the your home country bank account. For the first time out trying to use 12 months of 65K Baht Equivalent cannot really happen.
A Non O 90 Visa should be able to be obtained. This Non Immigrant O Visa can be Extended inside Thailand for one year at Immigration by meeting the 800,000 Baht in a Thai Bank.
A married couple (non Thai) can do this: One spouse is primary - files normally... the other spouse applies as a Follow On and does not have to file separate financials
A Non O 90 day visa can be applied for at Thai Immigration after arriving on a tourist visa. Then extend one month to allow time to set up a Thai Bank Account and have the money in the account for two months
A Non O 90 Visa should be able to be obtained. This Non Immigrant O Visa can be Extended inside Thailand for one year at Immigration by meeting the 800,000 Baht in a Thai Bank.
A married couple (non Thai) can do this: One spouse is primary - files normally... the other spouse applies as a Follow On and does not have to file separate financials
A Non O 90 day visa can be applied for at Thai Immigration after arriving on a tourist visa. Then extend one month to allow time to set up a Thai Bank Account and have the money in the account for two months
Nicky *********
ORIGINAL POSTER@Kathy ***************
1 year OA visaKathy ****************
@Ni***
then you only have to show 65,000 baht ($2500.00) a month in a US account..Kathy ****************
For a 1 year.. If you are going with a spouse each MUST have their own account with monies... you can PM if you want other info...
Reply to
Kathy ****************
Reply
Joanne *****************
@Nicky ********
following. Weโre doing same - going to Thailand in June. Can you let me know what they say please? Iโll be using the DC embassy though. Weโd like to use our retirement portfolio as well and not take money out until absolutely needed. Nicky *********
ORIGINAL POSTER@Joanne ****************
no problem! I just wrote the embassy this morning as the idea came up here. Also I hope someone that has used this process can chime in. Reply to
Nicky *********
Reply
Andy *********
Pop a email to the embassy, asking. Keep the reply, if positive, and send the email with your application. I asked about joint named account for my and my wife's application, got a answer in a couple days
Ray *****
The funds have to be in a Thai bank account in your name
Tod *********
That is totally incorrect
@Ray ****
:/ you are confusing getting an O-A VISA from a thai consulate in your country BEFORE you come here and getting a year extension from a thai immigration office AFTER you're here. Ray *****
@Tod ********
yes i realised that after a couple of people posted after me, Bob and Janin aboveReply to
Ray *****
Reply
Bob **********
@Ray ****
not for an O-A which you apply for in your home country Janin ******
@Bob *********
, correct. But his first extension of visa it has to be in the Thai bank, at last thatโs what the embassy told usReply to
Janin ******
Reply
Benjamin ******
When you say you are applying for the OA visa, that means you're overseas, and you are trying to get a visa sticker to enter Thailand, right?
JD ********
One tip about getting the O-A Visa in the Home Country at the Thai Embassy / Consulate... The 800,000 Baht equivalent only has to be in your bank account for 3 months prior to applying for the O-A visa (some people say only two months - but check it out)... Unless there has been a drastic change recently - unlike getting an one year Extension of Stay in Thailand for an O-A or O visa - the money you bank in your home country to meet O-A visa requirements IS NOT required to be held in that account for a whole year - rather only the few months. A friend of mine just loaned himself the 800,000 equivalent from an investment fund - put it into an account. Then paid himself back after 3 months.
Nicky *********
ORIGINAL POSTER@Benjamin *****
correct. I will be applying at the Thai embassy in Chicago. Benjamin ******
@Nicky ********
I *THINK* you can use IRAs to meet the minimum amount. HOWEVER, you will need to eventually put that money in a Thai bank account to get the one year extension of stayNicky *********
ORIGINAL POSTER@Benjamin *****
absolutely! I understand that. I just do not want to take it out before I need to. Hopefully someone knows for sure if I can use it... Frank ******
@Nicky ********
I had to have money in bank USA for O A, Tod *********
and
@Fr***
did you ask them IF you could use an IRA brokerage account? Frank ******
yes, they said only bank account but that was in feb 2020 NYC. Consulate
Reply to
Frank ******
Reply
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