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Answered9 years ago

Do I need to have my retirement visa income in a Thai bank or can I use UK bank statements?

Shon ********
asked Mar 30, 2018
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Hi everyone. Question when applying for retirement visa and have to show regular income of 40,000 baht, does this have to be on Thai bank. For instance do you have to transfer that over to Thai bank. Or is it ok to show U.K. bank statements.

Thanks
Answer summary
When applying for a retirement visa in Thailand, you need to provide proof of regular income, which must be at least 65,000 baht per month if using the income method. This income can be derived from your UK bank account, but you will need to obtain an income verification letter from your UK embassy in Thailand, rather than just relying on bank statements. This verification process requires submitting relevant documentation to your consulate in Bangkok. Alternatively, there is also an option to maintain 800,000 baht in a Thai bank account as proof of funds.
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Ron *******
Ron *******
You first need to get the statement of income from your provider. You then take that to your embassy to verified if your applying outside of the UK.

You don't have to be over 65 but simply receiving a regular and verifiable income.
Tom *****
Tom *****
Thanks both, I was just enquiring for the future, I am already on a 1 year extension of my non imm O based on being over 50 but the O-A may be an option in a few years time. I will renew 1 more time in November then consider my options.
Juandre **************
Juandre **************
Ok Tod i see the difference. The point I was trying to get across to Tom Orr was that he doesn’t have to go home to get a retirement visa.
Tod *********
Tod *********
@Juandre *************
right that is a 90 day single entry Non-Immigrant Type O visa. You can get those at most thai consulates.

It's not the year long, multi-entry Non-Immigrant Type O-A <- note the A after the O. They are totally different visa types.

The O-A requires a police back ground check, a medical certificate and you can meet the financial requirements by using your bank in your country. It's also good for a year every time you stamp into the country.
Juandre **************
Juandre **************
Maybe it’s changed then or I’m getting confused. I was in Cambodia on a 1 year ordinary visa in 2016.

I went to the Thai embassy in Phnom Penh who issued me a Non- immigrant O visa based on retirement. I then had 90 days to extend this to a 1 year visa while in Thailand.
Tod *********
Tod *********
@Juandre *************
that is totally incorrect and you need to apply for a year-long, multi-entry Non-Immigrant Type O-A visa at a thai consulate in a country that your passport is from or where you legally hold residence.
Stephen *******
Stephen *******
@Juandre *************
No you can only apply for it at your "home country" embassy.
Juandre **************
Juandre **************
@Tom ****
. you can apply for the O-A visa at any Thai embassy.
Ron *******
Ron *******
@Tod ********
it was more the simplicity to get it than anything else simply by showing a pension statement
Tom *****
Tom *****
Thanks guys, worth considering in 2 years time for me, although having to go 'home' has to be the downside for me!
Tod *********
Tod *********
@Tom ****
The O-A visa can be gotten from a thai consulate in a country where your passport is from. It requires a police back ground check, a medical certificate and proof of financials (you can bank the money in your country). It's good for unlimited entries during the validity of the visa (a year from the date it's issued) and every entry gets you stamped in for a whole calendar year. You still need to do 90 day reporting. BUT the way this visa works IF you exit/re-enter just prior to the "enter before" date on the visa you'd get stamped in for a new calendar year. Meaning you can wring almost 2 years of stay out of that visa.
Tod *********
Tod *********
@R**
, ONLY the UK has that wacky age restriction of 65 years old for the O/A visa. And that's because of their retirement and/or pension rules NOT anything else.

Otherwise it's the same one sold to people all over the world at thai consulates when they're 50 years old.
Ron *******
Ron *******
The particular O-A for being over 65 and drawing a state pension is ME 12 month visa and no need to leave the country. Some people use them that visit the UK once a year and simply get another one. You MUST be over 65 and be drawing a state pension though to qualify. It's very simple for those people to get.
Tom *****
Tom *****
What's the advantage of an O-A over a yearly extension of stay based on being over 50
@R**
? Apart from the cost of going home to get it, would I not have to leave Thailand every 90 days and re-enter, whereas now I just have to report every 90 days? Cheaper and less hassle.
Ron *******
Ron *******
Yes got you Tod. My post probably wasn't clear regarding income.

On that note, anybody over 65 and receiving a state pension would be crazy not to apply in London for the O-A simply by showing 2 months pension income to a bank account or there government pension book. I don't believe that option is offered to anybody else anywhere in the world.
Tom *****
Tom *****
Thanks guys I ask as soon I will be able to do a combination of income/bank deposit, I currently just leave the 800k untouched. Always good info!
Tod *********
Tod *********
@R**
, they do but it can be almost any type of income not just pension.

I know people who have rental property income that exceeds the 65K threshold for retirement extensions.

They just submitted copies of the deposits of the rents into their bank account in the UK to the consulate here and they got the letter fine.
Ron *******
Ron *******
Tod, do UK citizens not have to prove income anymore or am I misreading your post?
Tod *********
Tod *********
You can get that letter from the UK consulate without having ANY pension at all too. They are very open to you using other forms of income on the letter they write for you.

You can't go to the UK consulate in person anymore.

It's all done only by mail or email. They don't let you walk up for that letter.
Tom *****
Tom *****
I have heard the UK Embassy can be sticky on providing an income statement and won't do so unless you are officially claiming your UK state pension, so you would have to be over 65. Is this correct or would they issue one anyway as long as you had over 65k income? If so this just leaves the 800k in the bank option.
Ed ****
Ed ****
Yes, last year I used rental money for my income letter for my visa based on marriage. I sent all the paperwork off to the British embrassy and I got the letter about 10 days later.
Tod *********
Tod *********
That is incorrect. :/ You can put anything down as far as income. I know people who use interest, rental property, dividends etc.

They're really lax about what they will accept
Ron *******
Ron *******
Just bare in mind that some UK pension providers can take weeks to issue you a pension income verification letter.
Tod *********
Tod *********
Okay IF you are using the income method for an extension based on being over 50 (retirement), which as
@St***
, correctly pointed out is 65K baht a month, you cannot show bank statements.

Instead you get a letter from your consulate stating you get the income.

IF you're a brit you would get that letter by submitting documentation to your consulate here in Bangkok and they will send it to you.

It is the only form of documentation you can use if you are going the income from overseas method to meet the financial requirements

****************************************************************************************************
Steve *******
Steve *******
@Alan ******
. It's a bit pointless going to the US Embassy when the OP is from the UK.
Steve *******
Steve *******
It's 65,000bt minimum per month for 'retirement' . The income only has to be verified by your embassy in Thailand.
Geoff ********
Geoff ********
800,000B in the bank. Problem solved!
Joe ***********
Joe ***********
800,000 is for Retirement cash in the bank or 65,000 income each month. The 40,000 mentioned is monthly income for marriage
Shon ********
Shon ********
OP
@Geoff *******
no problem thanks anyway
Geoff ********
Geoff ********
My bad
Shon ********
Shon ********
OP
Thanks not what I am asking

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