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Answered3 years ago

Do I have to keep 800k Baht in the bank while I receive 67,000 Baht monthly overseas income for my Non-O Retirement Visa?

Paul ********
asked Nov 7, 2023
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Question - I have started the Non Immigration O Retirement Visa which requires 800k Baht in your bank which I have, I want to convert this to 67,000 Baht per month overseas income which I have to have a 12 month history so I can convert to this in 12 months. My question is do I have to keep the 800k Baht in the bank for the next 12 months while the 67,000 Baht come in to qualify? Hope this makes sense?
Answer summary
The user inquired whether they need to maintain the 800,000 Baht in their bank account for the full 12 months while they transition to qualifying for a Non-O Retirement Visa using their overseas income of 67,000 Baht per month. Responses indicated that the 800,000 Baht should remain in the account for at least 3 months after obtaining the extension stamp, and must not drop below 400,000 Baht for the remainder of the year. During the next 12 months, the user can receive their monthly income transfers, which can then be used to meet the financial requirements for future visa extensions.
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Paul ********
Paul ********
OP
Cheers guys, thank you, pretty much as I thought. Much appreciated
Bob **********
Bob **********
It’s 65k a month you can drop the 800 to 400k after you’ve had your extension for 3 months and as long as you have 12 consecutive months with 65k+ showing as a foreign transfer you’ll be fine
James ********
James ********
YES as you need to continue to meet the requirements for the One year extension of stay as retired...

The 800,000 Thai baht must remain on deposit for the 3 MONTHS following your getting the One year extension STAMP in your passport...

Then you must maintain a balance of 400,000 Thai baht or more for the next 7 MONTHS of the year...

And you must bring back to the 800,000 Thai baht amount in the Thai bank account for the final 2 MONTHS of the first year.

During those 12 months you can transfer into your Thai bank account 65,000 Thai baht or More...

Then when you seek to obtain the second year extension... you can use the monthly deposit as meeting the one year extension of stay as retired Requirements.

The graphic below was prepared by Moderator Ellie as a helpful tool to understand the transition to the use of monthly deposits for the second year of your retirement in Thailand.
James ********
James ********
John **********
John **********
You must honour the requirements of your current extension while preparing for the next one so you need to keep 800k in your account for 3 months after getting the extension and not let it drop below 400k all year. On a positive note you can spend your monthly transfers when the arrive
Will ************
Will ************
800k in for 3 months after your 1 yr extension stamp and CANNOT drop below 400k for the remainder. You MUST transfer a minimum of 65k for 12 consecutive months prior to your application date for the next years extension NOT the expiry date of the first yearly extension

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