How many months should I show the required 800,000 Baht in my Thai bank account before applying for a retirement visa extension?

@Mi**

The way the visa you have works (without a covid-shit storm ruining the world) IS

the visa is good for a year from the date it's issued, it's good for unlimited entries/exits to thailand during that time and EVERY entry gets you stamped in for a whole new year 　 That means IF you were somehow able to exit/re-enter thailand just before the visa STICKER in your passport expires you'd be stamped in for a whole new year and wouldn't need to fool with getting an in country extension until the following year.

BUT because of this covid-shit-storm and the borders not being open to easy out and in travel you are faced with applying for a yearly extension of stay based on retirement at the immigration office inside the country. You holding an O-A visa means that you have to show proof of having the mandatory insurance coverage from one of the 14 approved thai insurance companies that give O-A visa holders insurance, AND you'd need to show 800K baht in a thai bank account for 2 months before you apply for your extension, it would need to stay IN the account for 3 months after you got the year extension and then the balance couldnt' go below 400K baht the rest of the year

If you are interested in getting a better rate for your bank transfer £ or € to THB than you will get sending from Europe, drop me a message.

H

Don't forget your insurance also

yes. These moneys need to be in a Thai bank account. This is what works for me (so far). The first 6 years I maintained the 800 cash in deposit. I wanted to change to method to monthly income. I opened a special “direct deposit” account with Bangkok Bank and arranged for my US social security payments to be deposited into that account. The Direct deposit account has some restrictions like, no internet access and you have to go to the bank branch is which it was opened to withdraw or transfer to another account I call monthly expense account. Each month I go to the bank and ask them to print a “deposit detail” report (on original letterhead paper) that states the origin of the transfer ie international via social security. Interesting to note that SS transfers the money through the bkkbk New York Office. Before I renew my extension of stay next time I will go to the bank and get a letter listing the deposits for the past 12 months. Albeit overkill, I will have 3 methods of proof. Given the “direct deposit” account is only used for transfers in and out, I will copy the bank book pages, I will have the individual deposit detail reports and the letter from the bank. I am not aware of other sources that can use this account to send moneys to you. You can ask the bank. I choose to keep it simple. So if it was me in your place, I would open a savings account and transfer in the 800k. You can try TransferWise and there is a good possibility it will show as an international transfer ( if you use bkkbk, there may be others) I would also open the “direct deposit” account and instruct SS to begin direct deposits. Take the details of these 2 accounts with you for your next extension. Note. You need to be clear with them that you want to establish the monthly deposits (+bank balance, a 3rd option) as your method income proof. Otherwise they will just take the 800k as your method and your stuck with thoughts rules for another year.

@Mike *********

For using banked money to meet the proof of funds for a yearly extension based on retirement you need to have the 800K baht in a thai bank account in your name only for 2 months before you apply for your year extension (NOT 2 months before your current stamp expires) the money needs to stay at 800K baht balance for 3 months after you get the extension granted and then the balance cannot drop below 400K baht for the rest of the year

IF you are going to switch to the 65K baht monthly income via international transfer method to meet the proof of funds for your yearly extension NEXT year, you would have to meet the terms of the banked money method for this whole year AND transfer in the 65K baht a month every month to meet the terms of the extension you're applying for next year.

That means you would need to keep the 800K baht in the bank for 3 months after you got your extension and you would have to keep the balance at at least 400K baht the rest of the year <-(to meet the requirements of this year extension) IN ADDTION to transferring in to the country from abroad a minimum of 65K baht for the previous 12 months <- to meet the requirements of your next extension..

First transfer to my account for processing

Also half of it has to stay in the account year round....

Best is to leave the full amount year round if u can afford it.

Make sure it's a bit more, so if they charge expenses you don't dive under even with 1 Baht!

2 months for the first request, 3 months thereafter

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