Can the 800k for a Retirement Visa Be in a Time Deposit?

Retirement Visa Non-O Visa Bank Deposit Rules

Jun 20, 2020

4 years ago

ORIGINAL POSTER

I have the 800k in the bank for the retirement visa, which I will apply for as soon as I can border run. I've read a couple of posts saying it cannot be in a time deposit, is that correct?

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TLDR : Answer Summary

The requirement for the 800k baht deposit for the retirement visa specifies that it cannot be held in a type of fixed deposit that restricts access to the funds. The allowable type is a term deposit that permits access to the principal, although penalties may apply.

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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James ********

I assume you now have the O-A visa for retirement? And you want to do a border run to begin the Non O conversion to Extension of Stay inside Thailand.

What is your current permission to stay date expire/end?

4 years ago

Tod *********

There are two types of "term", "time" or "fixed" deposits in thailand.

One type allows you to access the money at any time during the term of the deposit (even though you might get a penalty or lose the interest) and you CAN use this type of deposit to have the 800K baht in.

Another type does not allow you to access the money during the term of the deposit (it's frozen in the account and you can only access the interest) and you CANNOT use that type of deposit to have the 800K baht in.

4 years ago

Jack *******

ORIGINAL POSTER

I see. It is a Fixed account so I'd better close it toute suite. Thanks for that.

4 years ago

Bobby ********

@Wordi *****

. Get a letter from your bank that certifies the funds in your account are "at call". Can save you a lot of problems

4 years ago

Tod *********

@Wordi *****

check to make sure that the principal is frozen in the account, the wording is "accessible" meaning you have to have access to the money, IF you can get at it (as I said even with a penalty or losing interest) the account is fine.

4 years ago

Reply to

Tod *********

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Do you need to have 800,000 baht in a Thai bank for a retirement visa application in Thailand?

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