Answered3 years ago

Can I use the 800k method for my retirement extension now and switch to the income letter method later?

Extension of Stay Retirement Visa Visa Renewal Financial Requirements 800k Bank Method Income Letter Method

Guz ********

asked Jan 3, 2024

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I need to renew my extension of stay based upon retirement in 8 weeks time. My question is can I renew based upon the 800k method and in 2025 use the income letter method (my Embassy does issue income letters).

Basically I want to spend my money. Will Immigration backcheck to see if I left the required amount in my bank balance for the 2024 renewal. (800K 3 months after and draw down to min 400k)

Thank you

Answer summary

The user inquires about renewing their extension of stay in Thailand based on retirement, questioning whether they can utilize the 800k baht requirement for the upcoming extension and switch to the income letter method in 2025. A comment clarifies that to satisfy the 800k method for the year 2024, the user must maintain the 800k baht for 3 months post-extension approval and cannot dip below 400k baht for the remainder of the year. This means that their funds must be managed carefully to meet immigration regulations prior to switching methods.

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Tod *********

You will have to meet the seasoning requirements for this whole year (2024) that you used banked money method for your extension <- meaning you need to keep the 800K baht in the bank for 3 months after the extension is granted and then you can't let the balance go below 400k the rest of the year until AFTER you apply for the next extension using the embassy letter to meet the proof of funds

3 years ago

Wannikea *********

@Tod ********

will the 400k need to be topped up to 800k 2 months before they apply for the embassy letter income method?

3 years ago

Graham ******

@Wannikea ********

No because that is a requirement for the subsequent extension, not the current one. Changing to the income affadavit makes the top-up unecessary.

3 years ago

Wannikea *********

@Graham *****

yes this was also something I was keeping in mind, glad the OP is now aware and taking steps towards a backup plan.

3 years ago

Guz ********

@Graham *****

Your right...Didn't think about that one. I'll renew my extension of stay in 2 months time using the income letter method. If that's for some reason not successful I have the banked 800k to fall back on. Thanks for pointing this out.

3 years ago

Graham ******

Saying that the OP will have burned his bridges so if the transformation to the affadavit method for extension fails for some reason he is back at square one and applying for a new Non-O (90 day) Visa.

3 years ago