Does a Tax-Free Savings Account (TFSA) meet the 500k baht requirement for Canadians applying for a Thai visa?

500k baht requirement Canadian expats Tax-Free Savings Account TFSA Thai visa requirements Finances for visa application Embassy regulations

Sep 8, 2024

2 months ago

Anonymous *************

ORIGINAL POSTER

Hi, I have a question about the 500k baht requirement for Canadians. I'm sorry if this has been asked already (I couldn't find anything specifically addressing this).

Do funds within a Tax-Free Savings Account (TFSA) satisfy this requirement? I've read that "Investment" accounts through a brokerage won't work but in this case, I have a single TD Bank account that shows my usual Chequing/Savings accounts but also my TFSA and RRSP.

Thank you for any insight!

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TLDR : Answer Summary

The question concerns whether funds in a Tax-Free Savings Account (TFSA) count towards the 500,000 baht requirement for Thai visas for Canadians. Responses indicate that immediate access to the funds is crucial, and some embassies may accept TFSA funds while others may require regular bank account statements. It is advised to check directly with the relevant Thai embassy for specific requirements.

Helen ********

Canadian also. We were told it has to be accessible in a bank account. You can confirm with the Vancouver consulate or Ottawa embassy.

2 months ago

Wannikea *********

If you have immediate access to the cash, then likely it will qualify.

2 months ago

Abas ******

@Wannikea ********

Thailand has very strict laws. I am married and I have kid also but still I have to show damn 400k baht every year in my bank account to apply for marriage visa every year.

2 months ago

Abas ******

@Wannikea ********

And after the visa is issued, we can use this fund or it will be in bank account for 5 years.

2 months ago

Wannikea *********

@Abas *****

they just want you to show the money to apply, the whole idea is that they hope you spend it in Thailand, so yes you can spend it.

2 months ago

Reply to

Wannikea *********

Andi ***********

You should check with the embassy you will apply from as each embassy differs In their approval. London Embassy approves of tax free accounts-ISAs being used but some embassies want a regular bank account. Statement.

2 months ago

Reply to

Andi ***********

Can I use multiple bank accounts and stock accounts to meet the DTV Visa financial requirement?

16 comments

2 months ago

Can I convert my retirement visa funds into a fixed deposit account in Thailand?

29 comments

2 months ago

What is the best way to prove the 500k THB requirement for a Thai visa when using funds from a family account?

8 comments

2 months ago