Answered2 years ago

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

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

asked Sep 8, 2024

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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!

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.

6 repliesnewest first

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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 years ago

Wannikea *********

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

2 years 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 years 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 years 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 years ago

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 years ago