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.
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Wish you could keep 800k or more in Bitcoin account and use this for your visa extension
Steve **********
No need to nest ANY funds once you are on an Income based ( FTT ) for 12 months option.
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.
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.
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.
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.
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.
best have your visa extension in same province as TM-30, and 90 day ext or IO will question.
Reply to
Steve **********
Reply
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.
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