Answered3 years ago
Do I need to keep 400K in my bank account after changing my retirement visa requirements?
Good afternoon I have a question I am on a Non O retirement visa. I have for a year. I have 800K in the bank. I have now changed to 65K per 12 months now. I am taking 400K out in august. Do I need to keep the other 400K in there until renew extension
Answer summary
The original poster is seeking clarification on whether they can withdraw part of their 800,000 THB from their bank account after changing to a 65,000 THB per month income threshold under their Non O retirement visa. Comments from the community suggest that if the first-year extension has been successfully obtained based on the new income requirement, it should be safe to withdraw. However, it is emphasized that applicants must meet the bank balance requirements at the time of application for each new extension, and it's prudent to keep at least 400,000 THB in the bank until the renewal is confirmed. Overall, experiences shared indicate that immigration offices may not rigorously check account balances after transfers have been documented properly.
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Scott *******
My experience. 800k in bank for first o visa. Immigration confirmed I could start to spend the cash, providing I paid 12 x 65k for the yearly extension. I spent some of the cash but account was still above 400k after 3 months. Renewed visa the following year with no problem.
Somsak ************
Yes. Immigration office never check bank account. Only check bank documents fake or real. First day you can take back your money.
Bob *******
OPThank you! 🙂
Steve ********
The best way to approach this is to firstly get the idea out of your head that your "renewing" a visa/extension. There's no such thing as a "renewal". What you are doing is applying for a new extension every year. Each extension is stand alone. Until your current extension expires you must meet the requirements that you agreed to when you got it. It does not transition into your next extension. You then meet the requirements for the new extension on the day you apply for it, which is having 12 x
*****
k international deposits into your Thai bank account. These must be one for each calendar month. Once you have your new extension you can then withdraw the 400k or 800k or whatever you had in the bank
Chris *****
If I plan to transition from Elite to retirement, can I start transferring 65k a month, 12 or 15 months before my Elite expires, and use that?
Chris *****
Thanks very much indeed Steve, Steve, Bob and Ron, and sorry for going off on a tangent Bob.
Ron *******
@Chris ***************
no you cannot transition from a TE visa to ANY visa.You leave the country, get a tourist visa, visa exempt entry or Non O visa and start again.
You'll need the 800,000 baht in the bank for the first extension.
65,000 baht a month income won't work for you
Steve ********
@Chris ***************
You need to check with your immigration office how they approach this. Many will insist on the 800k for the first year, and only allow the 65k/month from the second year onwards. This is an office-specific requirementBob *******
OP@Steve *******
ok I will checkSteve ********
@Bob ******
I did it myself a few years ago. It went very smoothly. Just ensure the monthly transfers are marked in your account as FTT or INT (different banks use different codes) which indicates the money has come from overseas. And ensure you have one for each calendar month. I've heard immigration are very anal about this, and if you have a transfer on say the 1st and 31st January, you cannot use the 31st one as your February transfer. It's pedantic but that's how they work!Bob *******
OPSteve ********
@Bob ******
This answer doesn't apply to your situation. I was replying to Chris moving from Elite to retirement. You've already done the first year on 800k so can now move to 65k/month on your next extensionSteve **********
@Chris ***************
suggest add a bit to cover any poss rate change.Steve **********
You get conflicting opinions here.
Have been doing income for well over decade, if it's sent monthly from abroad FFT.
No need for 400k.
Have been doing income for well over decade, if it's sent monthly from abroad FFT.
No need for 400k.
Graham ******
@Steve *********
Yes there is to meet the conditions of the FIRST extension I.e. never drop below 400kBob *******
OP@Steve *********
Hi me again do I have to up date bank book and show statements when doing a 90 day reportingSteve **********
@Bob ******
No financial data req'd on 90 day, justTM30, but if online..noWhen doing FTT yearly, your bank will give you printout and letter.
They're all used to it.
Bob *******
OP@Steve *********
thank youBob *******
OP@Steve *********
cheersBob *******
OPThanks for the info.
Peter *********
Yes
Brandon ************
If you already got your 1 year extension based on the 65,000 you should be able to remove the money. If not yet then I wouldn't touch any of it until you do just to be safe.
Bob *******
OPSorry totally confused now
Steve ********
@Bob ******
If you do not intend to use the 800k method for your next extension there is no requirement to bump it back up to 800k two months before it expires, as that is a requirement for the NEXT extension, not the one you're currently on. Keep it at 400k, and move on to the 65k/month when you apply for your NEXT extension
Phil **********
Absolutely, keep that system until the 65k system is ok, then spend the 800k 🙃😊
Bob *******
OPOk thanks so I don’t need to put other 400k back when applying for next extension
Brandon ************
@Bob ******
you shouldn't have to but it's an insurance policy if you do. In the event they don't want to accept the monthly transfer for some reason you still meet the requirements for the banked money. But it's also a little bit of a risk because sometimes they'll see you have the money and just give you that extension instead since it's easier for them.Brandon ************
@Phil *********
you'll have to show the 800,000 for 3 months after your current extension and 400,000 for the entire year regardless. It's only the 800,000 2 months before next year that is the sticky pointPhil **********
@Brandon ***********
I've opened two bank accounts in the same bank, BB, keeping the *******
k system in one and transferring 65k to the other for a year and showing them that one, have the *******
as a backup just in case but not showing them...then can use the cash.Bob *******
OP@Brandon ***********
No extension is based on 800K but started putting 65K per month nowBrandon ************
@Bob ******
then you need to keep it at 800,000 for 3 months after the date of your current extension and never let it drop below 400,000 the rest of the year.
Richard ********
@Brandon ***********
this great Brandon, wish I had it when I changed to 65k in 2021.Had to do a heap of reading and checking before I did it.
Luckily we were in the process of building the house the year before I changed it allowed me to bring in much more than 65k month and I changed my BkB branch which sent them into a bit if fizz working out the money. This will help a lot of people.👍👍
Kool *******
@Bob ******
you need to keep bt400,000 in there until your next extension, when you change over.Activity
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