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Do I need to maintain an 800,000 baht balance before applying for a subsequent Non-O retirement visa extension?

Non-O Retirement Visa Visa Extensions Financial Requirements 800,000 Baht Balance Monthly Income Method Visa Regulations Thailand Immigration

Aug 14, 2024

4 months ago

Graham ********

ORIGINAL POSTER

Point of Difference:-

In early October I would have completed my first 3 months on the initial Non - O Retirement visa extension based on the 800,000 baht method.

I realise that, if needed, I can then "drop" that down to 400,000 baht. If, on the basis, that my subsequent 12 month extensions will be based on the monthly income method (minimum of 65,000 baht) each and every month for 12 (maybe 13) months, do I need to have the balance stand at 800,000 baht again 2-3 months before applying for the subsequent extension?

I know about all the eligibility  banking requirement documentation in preparation for the lodgement of the T7 application.

I have already been transferring above the minimum amount of 65,000 baht each and every month for quite some time.

Regards!

Graham

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TLDR : Answer Summary

The discussion focuses on whether a retiree needs to have the 800,000 baht balance in their bank account 2-3 months before applying for their next Non-O retirement visa extension, especially when transitioning from the banked money method to the monthly income method. Comments clarify that while the initial requirement for the visa extension includes maintaining the balance at 800,000 baht for a certain period, once the applicant switches to the monthly income method, they do not need to revert to the higher balance prior to their application. It's important to keep a minimum of 400,000 baht in the account throughout the year following the extension.

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Bob **********

In some offices you do

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Wannikea *********

I'm just trying to get clarification of the intent of your question. Since you were talking about the monthly method requirements and included the question about having 800k balance 2 months before in the same breath/sentence. If you mean that accumulating the 65k monthly deposit and needs to ultimately add up to 800k 2 months before you can apply using monthly method, then the answer is no. Actually there is no requirement to keep the 65k monthly deposits in the bank at all, it can be withdrawn immediately. I hope I haven't misunderstood or confused the situation.

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Graham ********

ORIGINAL POSTER

@Wannikea ********

it's okay - I realise that the minimum of 65,000 baht can be spent (living expenses etc) once transferred.

The 800,000 baht is the initial eligibility amount which needs to stay in the bank account for the first extension application, and then can be accessed after 3 months, and brought back up to the same amount if the subsequent application is again using the 800,000 baht method.

Hope this clarifies your query!

Regards!

Graham

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Graham ********

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Ellie *******

The 800K baht for two months is to meet the financial requirement for the next 1-year extension application when you use banked money again for that.

This might help the whole idea to changing method a bit.

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Graham ********

ORIGINAL POSTER

thanks Ellie - I am a detailed explanation person and sometimes it can create some confusion.

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Graham ********

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Graham ******

It might be prudent for your first year of 12 months transfers to also have the 800k seasoned in reserve in case there is something wrong with your monthly transfers, you will not know until you test this method. It could be that the receipts do not show correctly as international transfers, for example. After completing this extension as long as you change nothing for subsequent years you know that this method and your bank receipts are acceptable. This is just a precaution not a requirement.

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Graham ********

ORIGINAL POSTER

Thanks Graham - together with your's and Tod's response I now have "peace of mind" going forward.

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Graham ********

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Tod *********

𝗱𝗼 𝗜 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗵𝗮𝘃𝗲 𝘁𝗵𝗲 𝗯𝗮𝗹𝗮𝗻𝗰𝗲 𝘀𝘁𝗮𝗻𝗱 𝗮𝘁 𝟴𝟬𝟬,𝟬𝟬𝟬 𝗯𝗮𝗵𝘁 𝗮𝗴𝗮𝗶𝗻 𝟮-𝟯 𝗺𝗼𝗻𝘁𝗵𝘀 𝗯𝗲𝗳𝗼𝗿𝗲 𝗮𝗽𝗽𝗹𝘆𝗶𝗻𝗴 𝗳𝗼𝗿 𝘁𝗵𝗲 𝘀𝘂𝗯𝘀𝗲𝗾𝘂𝗲𝗻𝘁 𝗲𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻

No, the seasoning on banked money method is clear

- 800k in the bank for 2 months before you apply

- 800k stays in the bank for 3 months after you get the extension

- Then the balance can't go below 400K the rest of the year.

That means you need at least 400K in the account from 3 months after the extension was granted until you apply for the new yearly extension based on monthly transfers of 65k a month

As you are changing the method of proof of funds from banked money to monthly income by transfer there is no need to get the balance back to 800K 2 months before your next extension

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Graham ********

ORIGINAL POSTER

Thanks Tod - as I thought, but I was not 100% certain. It would only drop during an unexpected or emergency situation.

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David ************

@Graham *******

I don’t think an “unexpected situation” gives you a pass to go below 400k…. But I’m sure Tod knows.

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Graham ********

ORIGINAL POSTER

@David ***********

obviously a misunderstanding - I was referring to a potential ""drop" to below 800,000 and NOT the 400,000 threshold. I plan to leave the 800,000 in the Thai bank account and not touch it unless of an emergency.

If the situation was to bring it back up to the 800,000 just prior to the monthly income extension application I would transfer monies from my Australian bank account. Sorry for any confusion!

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Tod *********

@David ***********

well spotted,

@Graham *******

that 400k balance cannot go below the threshold the whole year until you apply for the next yearly extension using monthly income

You can drop the balance TO 400k 3 months after the extension but can't move lower than that

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Dave *********

what if it's $385k for a week then went back to more than $400k???

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Tod *********

I'm not not even gonna get in to the "what if I don't meet the requirements that I agreed to when I got my extension" scenarios. 😕

The rule is the rule. They can say you voided your extension the day you failed to follow the seasoning requirements 😮

They can easily check the banked money balance because they make you get a year transaction history print out and it has every transaction and the balance of the account for the previous year

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Dave *********

got it. Thanks

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Ellie *******

, do you mean during "rest of the year" of retirement extension? Logically, you will not meet the requirement to apply fo the next 1-year extension as your current extension is invalidated when you fail to keep the balance. You may need to leave and restart whole process from the initial visa again.

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Graham ********

ORIGINAL POSTER

see my response to David N Viscuso!

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Tod *********

@Graham *******

yep, understood, you should be fine

BUT I'd definitely pull money out of the account so you DO NOT meet the 800K baht threshold in the bank account you're transferring the money into every month (the one you will use for the upcoming extension based on monthly income

OR

when you go for the extension they'll just give it to you based on banked money anyway 😕

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Graham ********

ORIGINAL POSTER

Good point Tod - I wondered how they would discern the difference - maybe a new motorbike (scooter) will do the trick. Anyway, that is down the track a bit.

Cheers!

Graham

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Graham ********

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