Hello, I have a question about the $800k Baht requirement for non O retirement visa. I have half the amount and about $108,000 TB($3200.00 USD)/month retirement income and around $10k USD in savings. The visa agent said he could help meet the $800k level but would hold my passport until my funds cover the full amount. Is this usual practice with visa agents ? I could more than likely fund this fully myself in about 5 months. He adked me how long I would need to fund full amount. This is all new to me so i dont need any sarcastic comments. Just some real practical knowledge from anyone that has experience with this.
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TLDR : Answer Summary
The original poster is uncertain about the standard practices of a visa agent who suggested holding their passport until they meet the 800,000 Baht requirement for a non-O retirement visa. Comments from other users strongly advise against this practice, suggesting it is unusual and potentially fraudulent. Many recommend finding a different agent who does not engage in such behavior, highlighting the typical role of agents in facilitating the visa process without holding passports or requiring additional financial manipulation.
NON-O RETIREMENT VISA RESOURCES / SERVICES
Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
It doesn't in my Thai bank, but I'm okay with it as any income earned now opens the door to tax obligations. Anyway the interest amount is not big money, so I consider it the cost of living in this wonderful country!
Reply to
Bill *********
Reply
Pertti *************
You don't need agent to scam you. Take loan if you don't have assets and deposit money to your thai account and apply visa.
Iāve thought of that but one scam in trade of another? Banks make money lending money. Whatās the scam? They both provide a service. And they charge for it. A taxi driver trying to not use a meter and charge 3x the price , deceiving people is a scam. Bernie Madoff with peopleās $ was a scam. Sam Bankman Fried was a scam
it has to be at that level 2 months prior to extension and 2 or 3 months after. Not fall below ~ $10k USD (~$400k TB)for about 7 months a year. So basically $10k USD has sit doing not a thing
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months . Idk how sitting in a Thai bank helps their economy besides that of banks block investing.
it makes a huge difference in the thai economy. The books look good because money in banks is reported as gross domestic wealth.
The banks invest that money. You get 1% interest none of the banks are paying more.
If all thai banks do is invest in US Treasuries which right now are 4.3% on a 10 year bond? They are making 3.3% profit.
Doing the math best guess is 30,000 Americans live here.
Let's make it simple and say 10,000 are here on the visa that requires the 25k.
10k US x 25k deposit=250,000,000.
At 3.3% = 8.25 million US dollars. That it is US dollars is critical as dollars are benchmark currency.
Reply to
Mary ********
Reply
Steve *******
Just be aware that an agent using their money to get the visa/extention of stay basically means you have a fraudulently obtained extention of stay and if the sh*t hits the fan you'll be covered in it!
Colin *********
You can have half in a thai bank and half in pension i believe totaling 800,000 bauts plus
sorry only know about marriage visa,,you have to see immigration office ask them ,no good ask here and all immigration office have slightly different rules so ask your nearest one for the paperwork
I was under the impression that the 800k baht is left in your account for 1 year and not added up the following year, the following year it can be 400k baht but not to go below that.
Reply to
Jeffrey ********
Reply
Colin *********
Ok let's start again do you have a gov pension or a pension and is money in a thai account
Jim ********
I would guess that you may have misunderstood. It is coming practice for them to deposit money into your account and hold your passport whilst doing so and obtaining a letter from the bank. Double check what they mean if you are unsure
Paul *******
You are contemplating Undertaking a process which is illegal and if found out by Innigration, you face possible imprisonment and certainly expulsion from the country and you query whether the process is normal. If you do not have sufficient funds to stay legally in the country go home.
FFS Cop on. Agents exist in this universe to make the process easier for a fee. Illegal? Possibly but very grey. Who would police that ? Immigration? They are the ones accepting the applications.
Michael *******
Illegal ? Corruptā¦ā¦itās a fine line and cool until it goes wrong and youāre deported as many before you have experiencedā¦ā¦
you know it's illegal so stop pretending it isn't.
Reply to
Peter ******
Reply
Jamie **************
I have a agent at blue port that will not hold your visa but will charge you more to put enough money into your account temporarily while they issue your visa. I would never let anyone keep my passport more than a few hours or over night! Your pass port is your everything
Something is wrong. Go to a different agency. They cost more money but they do it all for you. Iām older and needed an agent.
Ben *********
My agent held my passport only for a short time while the visa was being processed, a few weeks. This was because my home was many hours away from their office. The agent will use their own money. That's why you pay them for the service.
Ben *********
No, I paid their fee & then they held the passport. There is next to no risk. TIT.
Sure thatās normal that the agent has your passport for the week or two that it takes to process the visa/extension, but an agent holding your passport over a barrel until you cough up enough funds to cover the amount is not an āagentā, just an extortionist.
Reply to
Stuart *********
Reply
Stuart *********
Not trying to be sarcastic in the least but you need a new agent.
WTF would an agent hold your passport until you have enough funds. An agent does what they need to do without you needing funds (which is why many people use agents).
see Anna soi 94. You will have no problems like the one you mention.
Albert ********
ORIGINAL POSTER
Thanks for all the good advice. I talked with an agent in Hua Hin and she explained how things work. No need to surrender my passport she said. I wasnāt very comfortable with that scenario. Just on the off chance Iād have to go home and it was a weekend or holiday and couldnāt get my passport and to my instincts it just didnāt seem right so I asked here. Thanks for the help everyone!
thanks for the advice. Iāve asked other agents and none of them asked to hold my passport until the funding was met with my money. Also, i hate tying up my money like that anywhere. I liken that to putting $50 on a Starbucks card and all you want is a $4 Americano. Use my money interest free to make money. š¤·š½āāļø I donāt understand why theyād want my money sitting in one bank as opposed to spending it in the overall economy.
They will hold your bank book until you replace their funds so you do not withdraw their money
Albert ********
ORIGINAL POSTER
Iāll have medical insurance. Iāve gotten a quote from Pacific Cross and my visa agent said sheāll help find an insurance broker. Most Iām sure Iāll just pay out of pocket. Iām just concerned with major medical, Iād have funds set aside for that ,
Thailand is trying to insure that you will not tap into the countries social services and become an expense to the country. Especially since you probably will not have medical insurance either
the agent will put the 800k in an account get a letter from the bank. And have you transfer the 800k back to them within minutes.
Get your cash assembled and renew with your funds the next year with your 800k which can then be left in the account to make you legal for the 3rd year