Answered3 years ago
Do you need to keep 800,000 THB in the bank all year for your Thai retirement visa renewal?
Do you have to have the 800,000 in the bank all year to get your renewal on your renewal date?
Answer summary
To renew a Thai retirement visa, you must maintain a balance of 800,000 baht in the bank for at least two months prior to the application and three months after. Additionally, during the rest of the year, the balance cannot drop below 400,000 baht. Alternatively, after the first renewal, you may opt to show monthly income of at least 65,000 baht instead of maintaining the 800,000 baht in the bank.
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Michael *******
Think ill get married cheaper! Haha
Michael *******
You can bring in 65k a month after your first renewal instead of keeping the 800k
Ady ******
800k dead money what a stupid rule it’s 800k you can say good buy to as you cannot
Use it
Use it
John *********
@Ady *****
you can use 400,000 baht in 7 monthsJohn *****
@Steve ******
sorry you have difficulty coping. Nobody takes a guy seriously, who pouts and look like he's laying an egg on every photo. Hope you can learn to deal with simplified economic one day xSteve *******
@John ****
Oh dear, stalking my Facebook page and resorting to insults just proves that you have nothing correct to offer in this discussionJohn *****
@Steve ******
Google Thailand GDP(A). Google how many retirement visas are issued x 800k baht(B). A÷B = you answer. Never thought I'd have to teach a Facebook economist such basic economic.Steve *******
@John ****
Unfortunately it doesn't work like that. Firstly you dont need to keep the 800k in the bank and secondly the GDP has very little to do with banks "cash flow and liquidity"Seems like you need to get some basic financial lessons yourself!
Wayne *****
@Ady *****
Don't like it, don't retire in Thailand, easy.Ady ******
@Wayne ****
I’m still young and have money it doesn’t affect me but it’s not good or easy for older people to leave all that money in a bank and cannot use it they will probably die and all that money wastedWayne *****
@Ady *****
that's the trade off for retiring in paradise. Everyone has to make the choice. My choice was to forget the money and enjoy my retirement in paradise. Never regretted my decision. Just some times, money isn't everything young man.John *****
@Ady *****
great for propping the value of the baht a boosting cash in flow and liquidity for Thai banksSteve *******
@John ****
Hahaha! Really? It's a drop in the Ocean for the Countries banking system!Steve *******
@John ****
Really? Got any figures to prove that?John *****
@Steve ******
around 0.2% of GDP .. if you think that has no impact, along with all the other measures in place, thank god you're not in finance!
Robert *****
@Ady *****
True Sir. That’s $22,000 USD for me that isn’t productive or useful. 😕
Colin **********
2 months prior to your extension submission, 3 months after, 400kthb the remainder of the year.
Steven ********
OP@Colin *********
what happens if you go go below 400 and then you bring it back to 800 by renewal
Michael ********
@Steven *******
the *****
every month after the first year is the way to go, that's only my opinionStuart *********
@Steven *******
Depends on the discretion of the office/r that you’re applying to. Almost certainly it won’t be approved as you haven’t fulfilled your requirements for the previous years visa.
Brandon ************
@Stephan **********
officer discretion same as everything else
Stephan ***********
@John *********
I also think so, but if the IO has a very bad day he could pull the "overstay card"... and then you are in really big trouble. Is there any official rule to this...?🤔🙄
John **********
@Stephan **********
yes. Once you don't meet the terms of your visa/extension it's no longer valid. Saying that I think it most likely that immigration just refuse an extension and he'll have to leave the country
Graham ******
@Stephan **********
Potentially yesStephan ***********
@Stuart ********
What is/was your "visa" status then? Let's say you drop under 400k just 4 month after approval... wouldn't that automatically "revoke" your permission of stay on that day? If so you would be on overstay for 7 or 8 months already when you go for the next renewal, no?John **********
@Steven *******
you won't get the next extension as you didn't honour the terms of the current extension
Jim ***********
@Steven *******
depends on province immigration. Some will deny .Colin **********
@Steven *******
your in jeopardy of having your next extension refused, almost certain.Stuart *********
The rules are two months prior to application, and three months after. Balance can’t below 400k for the rest of the year and back up to 800k two months prior to next application.
Leonard *********
@Stuart ********
instead of “800k in the 2 months prior to the next application”, would minimum 65k baht monthly be a substitute?Stuart *********
@Leonard ********
Not for an initial Non O application nor for the first year extension. After that you can switch to 12 months of 65k transfers from overseas. You need to keep to the rules of the previous years extension of 800k for 3 months after application and not below 400k for the rest of the year.John **********
2 months before applying, 3 months after and not below 400k rest of the year
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