How does withdrawing money from a retirement extension bank account affect pension requirements in Thailand?

October 14, 2023
a year ago
Neo ************
ORIGINAL POSTER
My friend has a retirement extension and 800 000 thb in his bank for a long time. He needs to take some of it out. How does it work against his pension? How much does he need in pension.
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TLDR : Answer Summary
When withdrawing from a bank balance required for a retirement extension in Thailand, your friend can take out funds but must adhere to specific rules. The 800,000 THB must remain in the account for at least 2 months before a new application and at least 3 months afterward. He can withdraw up to 400,000 THB but must ensure that the balance returns to 800,000 THB two months before the next visa application. If he is using a pension for his visa, he should confirm with the local Jomtien immigration office if they accept combined methods for proof of funds, including affidavits of income from abroad.
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Tod *********
@Anders ************
, you friend definitely needs to go talk to the Jomtien immigration office well before he thinks about changing the proof of funds method.

He needs to see IF the Jomtien immigration office will accept the affidavit of income from abroad notary letter (some offices do not accept it even if your consulate issues it)

If they don't take that letter he's got no way to use combination method by monthly transfers because he'd have to have 12 months of transfers to use it.

The answer on whether he can or can't pull money out and switch to the combination method is something only Jomtien can answer, so send him there to ask
Adam *********
Is the 800k per person? Does it matter if you are a couple? Would that be 800 each? Or can you use the same 800?
Tod *********
@Adam ********
each person needs 800K on their own if they are getting retirement visas.
Bob **********
He can take out 400k but needs to top back up before his next extension,if he’s doing the monthly 65k then bring both when extending once he uses the monthly income then he can take all of it out
Ellie *******
The banked money requirement for an extension based on retirement is clear. 800K baht has to remain for 2 months before the application of a new 1-year extension and for 3 months after a 1-year extension is granted. The bank balance cannot go less than 400K baht for the rest of the year to keep your extension valid. You need to push the balance back to 800K 2 months before the next 1-year application.
Hunter ********
@Ellie ******
Are you sure about the timing of the following extensions? I always heard it was three months before...
Tod *********
@Robert *********
it was 3 months before many years ago but that changed to 2 months before and 3 months after
Hunter ********
@Tod ********
Good to know, thanks Tod 🙏
Nongnuch ********
Anders Guldenskold . . . firstly, he needs to find out if "his" Immigration will accept the combination method. Secondly he needs to ask "his" Immigration, how much the deposit part of the combination mix must be. Because some Immigrations want the deposit part to be a minimum of 400.000.- THB
Neo ************
ORIGINAL POSTER
@Ellie ******
Ok but his visa expires 15 JAN and have pension as well can he combine it. He is Swedish he will get document from Embassy.
Ellie *******
@Anders ************
, total of monthly pension amount x 12 + banked money must be more than 800K baht. In this case, banked money follows the same rule, keep all for 2+3 months and cannot be below half for the rest of the year.

if an affidavit from his embassy in Thailand shows more than
*****
baht per month, he doesn't need to keep his funds in a Thai bank account once he applies for a new 1-year extension.
Neo ************
ORIGINAL POSTER
@Ellie ******
Ok thank you so example his pension is 20 000 thb x 12 =140 000 THB per year and his Bank Money is 700 000 THB he is ok?
Michael ********
@Anders ************
Someone may correct me if I am wrong, but I don't believe Chonburi Immigration allows the combination method. If this is the case, he will need to keep all of the 800k in his account.
Ellie *******
@Anders ************
, as a rule, that's right (except 20K x 12 + 240K). But he needs to ask his local immigration office to make sure it's okay.
Neo ************
ORIGINAL POSTER
@Ellie ******
right my misstake. Its the Pattaya branch.
Graham ******
@Anders ************
no, it's 65k per month but he needs to ask Immigration if they accept the combined cash and pension, some do, most don't
Ellie *******
@Graham *****
, I agree that bette to check the local office as not all office are willing to accept combine method. But combine method is in the police order, you can make appeal if they don't accept (most people don't do that though).
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