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Can I withdraw my 800k while using the Non-O visa retirement option in Thailand?

Mar 22, 2024
2 years ago
Robert ************
ORIGINAL POSTER
Hello all.

Hope you can clear something up for me.

Renewed my 1 year Non-O based on retirement using the 800k on deposit method earlier this month and have started sending the monthly 65k minimum overseas transfers, to make 12 in total by next Feb.

Can I now take out the 800k, as I have another use for it, or is there still a minimum (400k) balance which must remain at all times?

Thank you.

Robert.
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TLDR : Answer Summary
After renewing your 1 year Non-O visa based on retirement with the 800k deposit method, you must maintain the 800k balance for 3 months post-renewal and ensure it does not fall below 400k for the rest of the year. Although you are making monthly transfers to satisfy income requirements, the stipulation regarding the 800k is separate, and you cannot withdraw it during this period without risking your visa status.
NON-O RETIREMENT VISA RESOURCES / SERVICES
  • Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
  • For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
  • Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
  • Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
Robert ********
Wish you could keep 800k or more in Bitcoin account and use this for your visa extension
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Steve **********
No need to nest ANY funds once you are on an Income based ( FTT ) for 12 months option.
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Glenn *****
I just did this conversion last week at Jomtien. In my case, there was no check for the previous 800K and I just had to show the special bank statement showing my 12 deposits.

Although they didn't check me, immigration could if they want.
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Steve **********
Just never heard of that. Not significant, as have been on income ( foreign ) for 20 or so yrs....but don't recall ever nesting funds, I think the Consul letter prov my 1st year extention .

I don't mind going once. a year, always bump into someone.
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Brandon ************
@Glenn ****
Bangkok definitely requires it. The op hasn't stated which office they'll be using though
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Robert ************
ORIGINAL POSTER
@Brandon ***********
Samui, I expect.

Thanks for your help.

So I'm not on the 65k regime until after I've completed 12 months of 65k transfers, right?

For now I have to do both - 800k/400k and 65k deposits for 12 more months?

Excuse my confusion, I'm running 3 retirement visas in 3 countries concurrently...
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Glenn *****
@Robert ***********
you may already know but you can spend the 65k immediately
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Robert ************
ORIGINAL POSTER
@Glenn ****
Going to have to! I had thought I could free up the 800k now 😓
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Brandon ************
@Robert ***********
I have an infographic that might help.
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Robert ************
ORIGINAL POSTER
@Brandon ***********
Got it. Thanks.
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Robert ************
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Steve **********
@Glenn ****
that's the requirement !

Either :

800k nested

65k/mo 1yr ( FTT )

Comb. of both.
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Glenn *****
@Steve *********
in my case I never had the 800k but I did have a "simulated" 800 from an agent. After my 12 plus 3 months I did 12 consecutive deposits of 65K +. So when the new extension was due I just used my my 12 FTT deposits. IO did not check my previous "800K" but they could have if they wanted.
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Steve **********
@Glenn ****
To be honest, don't ever remember nesting 800, have been on income method 20+ yrs, maybe requirements have changed. Do recall

US Consul assuring income, but that stopped about 10 years ago....again memory not what was.
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Glenn *****
@Steve *********
more like 5 or 6 years ago. Not really nesting, just IO trying to see if you had the requirements for the previous year. If someone got a 2nd extension based on banked money they would be asked for proof of money in the bank for the previous year. So immigration COULD ask for the proof of banked money in the bank for the year before switching to income.
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Graham ******
@Steve *********
If an Embassy issues the income affadavit that can still be used for the first year of your retirement. You started on this method before the US Embassy withdrew that service.
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Steve **********
@Graham *****
was that a question ?
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Graham ******
@Steve *********
No, an observation.
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Andy **********
@Glenn ****
good to know, which immigration office did you change over at.
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Glenn *****
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Steve **********
@Andy *********
best have your visa extension in same province as TM-30, and 90 day ext or IO will question.
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Steve **********
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Brandon ************
The requirements for the extension you just got are that you must stay at 800,000 for 3 months after your extension, and it cannot drop below 400,000 the rest of the year.

That is a completely separate requirement from what you are trying to do with the transfers.

Next year when you go to apply for your extension based on monthly transfers, they will request you to provide 12 months of bank statements. They will use these statements for 2 things.

First: They will verify that you met the requirements for last year, which is the 800,000 for 3 months after you received your extension and that your bank account never dropped below 400,000.

Second: they will check if you received the proper international transfers every month for the previous 12 months.

If either of these is not the case, you will be denied your next extension for failure to meet the requirements.
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Rok ********
@Brandon ***********
most fail-proof method albeit not many of us want to hear it.
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Giuseppe **********
@Brandon ***********
, money can't be less than 800k 3 month before extension , of course for next year.
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Brandon ************
@Giuseppe *********
2 months before, 3 months after.

But since he's changing to monthly transfers, he can ignore the before part and won't need to bring it back up to 800,000 2 months before his application
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Robert ************
ORIGINAL POSTER
@Brandon ***********
To be clear, I have to leave it there, even though I'm now using the monthly transfer method, for 3 months before withdrawing it?

Thank you.
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John **********
@Robert ***********
until such time as you get an extension based on monthly transfers inked into your passport you have to honour the terms of your existing extension
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Brandon ************
@Robert ***********
you're not using the monthly transfer method. You got your last extension based on 800,000. You're still under those rules until your next extension.
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Giuseppe **********
@Brandon ***********
, correct. 2 months
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Giuseppe **********
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