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Do I need to maintain the 800,000 baht requirement for my retirement visa renewal in Thailand if I am depositing 65,000 baht monthly?

Retirement Visa Thailand Visa Rules Financial Requirements for Visa International Money Transfers Visa Renewal Process

Aug 21, 2023

3 years ago

Ian *********

ORIGINAL POSTER

Hi, after advice re my retirement visa and money requirements.

Am into my second year of retirement visa and have been depositing  65000 baht monthly for last 18 months.

Do l still have to have the 800000baht in bank before annual renewal and if not am l required to still maintain a minimum balance in my account even though I make monthly deposits??

Thanks in advance.

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TLDR : Answer Summary

When renewing your retirement visa in Thailand, you must adhere to the financial requirements associated with your current extension and your upcoming one. For your current extension, you are required to maintain 800,000 baht in your bank account for three months after it was issued, with a minimum balance of 400,000 baht afterwards. For the upcoming renewal where you will be using monthly international transfers, you need to show that you have deposited at least 65,000 baht each month into your Thai bank account for the previous 12 months. Make sure these transactions are recorded as international transfers, and obtain a bank statement showing this to present to immigration.

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Tod *********

Sorry everyone I pulled

@Jackie **********

comment,

I am sticking with the way I said it's done, as I've been at bangkok's immigration office with someone and watched the immigration officer go thru the year transaction detail statement to make sure they had the 800K baht in the bank for 3 months after last years extension was granted and then that the balance didn't go below 400K AND checked that each of the previous 12 months had 65k baht international transfer too.

Now that Pattaya & Phuket (both known renegade offices) don't do it doesn't mean NO office does it country wide.. I'd err on the side of caution so you're not caught out thinking it's one way when it's the other

How about we leave it with the sage advice of "𝗖𝗵𝗲𝗰𝗸 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗹𝗼𝗰𝗮𝗹 𝗶𝗺𝗺𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗼𝗳𝗳𝗶𝗰𝗲 𝘁𝗼 𝘀𝗲𝗲 𝘄𝗵𝗮𝘁 𝗽𝗼𝗹𝗶𝗰𝘆 𝘁𝗵𝗲𝘆 𝗶𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁 𝗼𝗻 𝘁𝗵𝗲 '𝗽𝗿𝗼𝗼𝗳 𝗼𝗳 𝗳𝘂𝗻𝗱𝘀 𝘀𝘄𝗶𝘁𝗰𝗵" 🙂

3 years ago

Steve ********

Important thing is that each 65k transfer is shown in your account as an international transfer. You will need to get a 12-month statement from your bank which clearly shows the monthly transfers and submit this with your bankbook to immigration when you go for the extension

3 years ago

Tod *********

Switching from banked money method on retirement extension to monthly transfer method is not tricky as long as you understand you have to meet the financial requirements for BOTH extensions, the one you are currently on that you got by banked money and the one you will be applying for using monthly international transfers..

That means for the current extension you're on now you needed to keep the 800K baht in the thai bank account in your name only for 3 months after the extension was issued and after that at no time could the balance go below 400K baht

AND

for the up coming extension you will apply for using monthly transfers you need to transfer in to a thai bank account in your name only a minimum of 65k baht a month each month every month for the previous 12 months before you apply for your next extension

3 years ago

Ian *********

ORIGINAL POSTER

@Tod ********

thankyou for you advice.In summary it appears that what ever method you use , you still have to maintain a minimum balance of

*****

0.

Correct/ incorrect?

In your opinion ( or anybody else's)what are the pros and cons of each method?

3 years ago

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Ian *********

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