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Do funds in a Thai bank account qualify for a retirement visa if they originated from rental income in Thailand?

Retirement VisaThai Bank AccountsVisa RequirementsNON-O VisaForeign Fund TransferBank StatementsImmigration RulesTax on Rental Income
Jun 15, 2024
6 months ago
Eddie ******
ORIGINAL POSTER
Hi,

I’m considering a retirement visa and my query is about bank accounts.

I’ve owned a property in Thailand for 20 years which I rent out.

The developer sent me to TSB who opened an bank account for me to transfer into from uk for the property.

Will the funds now in this account qualify for the 800k, or do they need to be transferred in from uk? Cheers
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TLDR : Answer Summary
The original poster is inquiring if the funds currently in their Thai bank account, which were accumulated from rental income over the years, qualify for the 800,000 THB requirement for a retirement visa. Comments indicate that money must generally be shown as originating from overseas for certain visa applications. However, if applying from within Thailand after already obtaining a non-O visa abroad, the source of funds may not need to be disclosed. It's also essential to ensure that the funds have been in the account for a sufficient time, and to confirm with the bank regarding certified statements. Additionally, there are discussions about the necessity of tax on rental income.
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.
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John *********
Which thai bank account do you have ?
6 months ago
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Greg *********
Does anyone know if visa agents accept credit card as payment
6 months ago
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Peter *******
You need to double check whether or not the 800K needs to be from a foreign source. It is not like the monthly income where the requirement is money from a foreign source coming each and every month.
6 months ago
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John **********
Can you show that the funds currently in that account originated from overseas? If not you will need a new transfer of 800k if applying for the 90 day non-o inside Thailand. If you get the non-o in your home country before travelling and are only applying for the 12 months extension of stay then it doesn't matter where the funds come from
6 months ago
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Eddie ******
ORIGINAL POSTER
@John *********
 It’s fair to say the funds in the account currently are as a result of rental income within thailand over the years.
6 months ago
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Nongnuch ********
@Eddie *****
 i hope you paid tax on this rental income, or I would be reluctant to offer any Thai institution any insight on it😄
6 months ago
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Nongnuch ********
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Graham ******
If your money in your Thai bank account was from rentals within Thailand could that not count as taxed income and therefore qualify if it meets the 65k monthly income requirement?
6 months ago
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Frank **********
I has to be shown as a foreign transfer from your country.
6 months ago
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Brandon ************
To apply to convert to a non-O visa inside of Thailand, you must be able to show the money came from overseas.

If you obtain the visa from a Thai embassy or consulate before you travel to Thailand, then you should be fine. Most immigration offices do not require proof of where the money came from for the 1-year extension, only for the visa itself.
6 months ago
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Stephan ***********
@Brandon ***********
 Phuket definitely don't ask where the money came from. Not for the visa, not for the extension.
6 months ago
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Brandon ************
@Stephan **********
 if your bank statement already had it, they're not going to ask.
6 months ago
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Stephan ***********
@Brandon ***********
 Even then... I had my money here in my bank years before I started with retirement visa. So... never had any "transaction from outside" in the bank statement when I applied. Don't kill me for that... I don't know why they never questioned it... :-)
6 months ago
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Stephan ***********
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Deanna *******
Yes. The money must be in a Thai bank and age (at least 3 months I think?). It must stay in the bank almost year round. I think you can withdraw down to 400k, but I'm not sure of the timelines here.

You'll have to get a certified statement from your bank as well.

I'm sure others will chime in here with clarification or corrections.
6 months ago
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John ********
@Deanna ******
 you don’t know what you’re talking about. Why put out inaccuracies then say in your last statement that you’ll be corrected?
6 months ago
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Deanna *******
@John *******
 Commenting on a post helps to "boost" it so more people see it. Otherwise, sometimes it gets lost in the feed. That's why.
6 months ago
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Deanna *******
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Stephan ***********
@Deanna ******
 800k for 2 month before application, 3 month after, never under 400k.
6 months ago
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Deanna *******
@Stephan **********
 Thanks for the clarification!
6 months ago
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Deanna *******
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