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Is my plan to obtain a retirement visa in Thailand based on monthly deposits feasible?

Thailand Visa Non-O Visa METV Retirement Visa Bank Deposit Requirements Expat Visa Rules Visa Extensions Financial Requirements for Visa Living Costs in Thailand

Jan 28, 2023

3 years ago

So ***********

ORIGINAL POSTER

Hi just want to ask if this plan is sound. 

Background: UK passport holder, entered TH in Nov 2021. Arrived via sandbox on TR60 + 30 day extension, followed by 3 times Covid extension and a final Visa exemption after a trip to Malaysia. Left TH early Nov 22 back to UK. 

Returning to TH mid Feb 23 on a METV and will start the B65k/month seasoning for 12 months. Appreciate the METV will get me at the maximum of 9 months with a few trips outside of TH, I can handle the last 3 months via other means. After 12 months of continuous deposits and trips outside TH, I will then apply for non-o based on being over 50. 

Reason for 12 monthly deposits is that  I can draw down on those funds and live, opposed to dropping 800k into a bank and deal with restrictive withdrawal levels. 

Will this approach meet the requirements for future 12 months for retirement visa. TIA

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TLDR : Answer Summary

The user, a UK passport holder, plans to return to Thailand on a METV and deposit 65,000 THB monthly for a year to support a future application for a Non-O retirement visa. The approach considers using these funds for living expenses while ensuring that the total deposits reach 780,000 THB by the end of the year, with an additional 20,000 THB to meet the 800,000 THB requirement. Comments suggest that while the monthly deposit method is valid, there are alternative suggestions including securing the non-O visa at home and transferring money to Thailand.

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Robert ************

Hmmm, if OP deposits 65,000/mo for 12 months = 780K. Just throw in another 20K, and that would= 800K in the Bank. That is, of course, if he left it all in the Bank, at least until he applies for initial Non-O and 1st Extension. Thereafter, no problems.

3 years ago

Robert ************

@John *********

BUT ... I don't know how anybody needs 65K Baht/mo. to live in Thailand. My wife and I TOGETHER, live very comfortably on only about 20-25K Baht/mo. Just saying. 😊

3 years ago

Steve ********

@Robert ***********

Everybody has different expectations in life. I worked hard and invested hard so that I could enjoy my retirement years. I transfer 85k each month, because 65k would be a squeeze. I live in an apartment overlooking the Chao Phraya River in Bangkok with phenomenal views and I enjoy a very pleasurable social life. I'm not ready to put the slippers on just yet! Others enjoy a more modest lifestyle. Keep in mind with the monthly transfers the money is yours to spend as soon as you get it. The 800k option is the money is tied up for the rest of your life. It's a dead set no-brainer.

3 years ago

Robert ************

@Steve *******

Like you said, everybody is different. I guess I have "no brains", because I choose the easy one-time Bank Deposit method. But, fyi, the 800K BAHT (only about USD $25K), is not "tied up for life". You can always take it out, if you choose not to renew your Retirement Ext. or choose to convert to your Income Method, or go LTR, etc. And, is it any different than other money you have "tied up" in Bank in your home country?

3 years ago

Reply to

Robert ************

@John *********

Yes, I understood that was his preference; just providing options.

3 years ago

John **********

@Robert ***********

I suspect he's wanting to use the money to live in while he's here on the METV

3 years ago

Reply to

John **********

Some offices also want the full 800k for the first extension I believe.

3 years ago

Steve ********

@John *********

I don't know of anyone who has been refused. It's how I did it in Bangkok and it was never questioned. It's in their operation manual. It's 800k, or affidavit from embassy confirming 65k monthly income, or it's 65k per month international transfer. Those are the options they give for extension. I can't see why they'd refuse. Different if coming off a tourism stamp.

3 years ago

Steve ********

@John *********

If you argued the point they'd accept it. There's no difference between 800k and 12 months of 65k, so they don't have much to stand on. An extension is an extension.

3 years ago

John **********

@Steve *******

perhaps, but wouldn't one rather be sure rather getting refused

3 years ago

Reply to

John **********

Steve ********

Get the non-O in your home country, and then apply for the extension in Thailand using the 65k/month method. Going from any tourism visa/exempt to non-O you'll need the lump sum. That's assuming you're not denied entry on account of your recent history

3 years ago

Steve *******

You need 800k in a Thai bank account to apply for the initial non imm O visa in Thailand. The 65k per month is for the yearly extention of stay.

3 years ago

Reply to

Steve *******

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