Do I need to transfer money from abroad for a retirement visa in Thailand if I already have funds in a local bank?

Jul 18, 2022
2 years ago
Robert *********
ORIGINAL POSTER
To get a retirement visa I know you have to have a certain amount of money in a Thai bank. I've lived in Thailand for many years and I already have money in an account. Am I required to transfer some additional money from overseas anyway? And if so, does it have to be cash? Could it be an existing mutual fund transfered from an overseas broker to a Thai broker? Thank you.
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TLDR : Answer Summary
To obtain a retirement visa (90 day Non-O) in Thailand, you need to have 800,000 Thai Baht in a local bank account. It is essential that this amount shows proof of having originated from abroad; therefore, transferring additional funds from an overseas account is typically required. It is possible to transfer existing assets, like mutual funds, into your Thai bank account, as long as you can demonstrate the funds came from an international source. There are additional options like showing a monthly income of 65,000 Baht as an alternative.
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Robert ********
You can also show as an alternatuve income per month of 65k baht statement certified by your embassy. You can also have certified income from other sources like pensions etc.
James ********
@Robert *******
depends on your Embassy as all do not provide an affidavit of income to file with Thai immigration...US, UK & AU do 🚫 NOT.
James ********
Nick *******
800,000 thai baht, in a thai bank account 3 months before application and 3 months after your visa. All the required documentation is easy to find online.
James ********
@Nick ******
it's TWO months before not 3
Nick *******
@James *******
ok great that’s easier, I was advised 3 months but I will trust you! Cheers James!
Robert *******
IF you have the Extension of Stay based on being employed inside Thailand, you have to cancel this Extension of Stay on your last day of working and apply directly for a new Extension of Stay based on being over 50 years of age (short retirement visa) and show that you have 800.000 Thb in a Thai bank and there is NO question where that money comes from. There are a few other requirements like copies passport, map etc.
Robert *******
I guess there is some misunderstanding in the question.

You are years in Thailand and you worked for years in Thailand as it seems from your answers, may I assume you have a current legal stay with an yearly stamp from Immigration as Extension of Stay permitted up to xx/xx/xx based on working here?
Kevin ***********
If you have been working here many years what kind of extension are you on? From a non B visa?
Tod *********
this is an image from the paper they hand out in Section C-1 in Bangkok to get a 90 day Non-O issued based on being over 50
Tod *********
@Robert ********
Here's the easy answer to your query;

How about you slog on over to your immigration office and ASK them if the 800K baht banked in a thai bank account in your name only HAS to show proof of originating from abroad to apply for the initial in country 90 day Non-O visa based on being over 50 (retirement).

Unfortunately (for you) it's totally irrelevant that you've been here for decades (and one actually might ask, why, in those intervening decades, didn't you apply for permanent resident and or thai nationality) 😕 However, be that as it may. .. ..

The rules clearly state that to get an in country 90 day non-O visa using banked money method that the funds have to originate from abroad and it's neither here nor there that you can't see the logic of it 😕 I personally stopped looking for logic here a LONG time ago, but your mileage may vary. .

IF when you go talk to your immigration office they say the funds have to come from abroad then worst case you withdrawal 800K baht out of your bank account, transfer it to your bank in your home country and then bring it back in.

Granted not the easiest of things to do but certainly something that can be done and then the 800K baht will meet the requirements as having originated from abroad.
James ********
The 800,000 must be in CASH in a Thai bank account in your name only... Not 🚫 In a Thai brokerage account managing a mutual fund or other securities.
Robert *********
ORIGINAL POSTER
@James *******
James, and the amount of cash currently in my Thai bank account is irrelevant? If someone has 10 million baht in a Thai bank account they must find 800,000 more from another country?
Kevin ***********
@Robert ********
It doesn’t have to be new money. There is no time limit as long as you can prove that 800K of the 10 million came in as an international transfer.
James ********
@Robert ********
totally irrelevant.
James ********
If you don't want to place 800,000 Thai baht in a Thai bank account... then do yourself a favor and get the OA visa for retirement from your home country.

Not one Thai baht nerds to be in a Thai bank account in your name only. All remain in your home country.

With planning you can get up to 2 years stay in Thailand... and each 2 years return to your home country and get a new OA visa.
Daniel *****
@James *******
hello i thought the second time you ask for an OA visa the money needs to be in Thailand ?
James ********
@Daniel ****
re-read what I said ...

Return to your home country each two years and get a NEW OA visa
Daniel *****
@James *******
yes I did understand that but it looks like in France they would still ask

for the money to be in Thailand when you apply for an OA visa for the second time, even from France. Can you confirm? Thanks
James ********
@Daniel ****
possibly get the OA visa and use it for TWO years ..

Then use the STV visa and stay 9 months. .

Return to France and seek a new OA visa ???

In other words... break the OA visa Term of up to 2 years and brainstorm other Visa opportunities available to you in SE Asia Thai Embassy or Consulates.
Daniel *****
@James *******
ok thank you for the advice !
James ********
@Daniel ****
remember that the STV visa is only available for you from your home country.

But other Visas are available to you in other Thai Embassy or Consulate in SE Asia.
Daniel *****
@James *******
thanks. I don’t know if I can ask the question here or should write a separate post. Tell me if you prefer the second solution! Which SE Asia country would be the fastest to grant me the OA visa ? Should I stay in the country until the visa has been granted ?
James ********
@Daniel ****
The OA visa is ONLY AVAILABLE in your home country.
Daniel *****
@James *******
sorry my bad !
James ********
Daniel Brm unfortunately for you... that's the requirements of France Thai Embassy...most unusual.
James ********
@Robert ********
you must be able to prove that the 800,000 Thai baht or its equivalent was RECEIVED into your Thai bank account in your name only by international transfer of funds.
Tod *********
The rule is that the 800K baht has to be in a thai bank account in your name only and you have to prove the funds came from abroad. SO as long as you can do that, you should be able to apply for the 90 day Non-O visa

There is no requirement to show funds origin for the 800K baht for the year extension only when you get the 90 day Non-O visa issued inside the country.

GO talk to your immigration office and see what they say.

Doesn't make any difference what account abroad the money gets to your thai account from as long as you transfer it in from abroad that's fine
Joost *********
@Tod ********
how would this work for somebody working in Thailand and retiring, ie switching from a non B to a non O extension based on retirement. If this is hijacking, I'll happily start a new threat.
Kevin ***********
@Tod ********
He mentions a “Thai broker” but it must be a normal bank account to receive the money?
Robert *********
ORIGINAL POSTER
@Kevin **********
I don't mean transfered into someone else's account. It would be my account. But it's a mutual fund. It's not liquid cash. I do not wish to cash out the fund. So I want to know if it can be transferred as a fund, into a Thai ____. (In the US they are called brokerage firms, like Schwab or Fidelity).
Tod *********
@Kevin **********
well spotted (y) I didn't even notice that 😮 ,

the funds have to come from abroad into your account
@ ***************
r they cannot be transferred in to thailand into someone elses account and then domestically transferred into yours
Kevin ***********
@Tod ********
I meant a regular “cash” account rather than a mutual fund account if Thailand has such a thing
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