Should my partner open a separate bank account for retirement visa purposes in Thailand?

Retirement Visa Thai Immigration Bank Account Requirements Joint Accounts Financial Regulations Expat Advice

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a month ago

ORIGINAL POSTER

For retirement Visa I will open bank acc. Soon. Oct, Nov. 2 or 3 month befor my partner will arrive. 

Does My partner better open  ACC. On his name? Or he can join my ACC as we share budget together ?

Thanks

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TLDR : Answer Summary

This discussion revolves around the necessity for individuals applying for a retirement visa in Thailand to maintain separate bank accounts. It is generally advised that both partners have individual accounts, as each must demonstrate 800,000 baht in their name. While joint accounts could theoretically be an option, they often complicate visa applications and may require additional documentation like a marriage certificate. Furthermore, some immigration offices may not accept joint accounts at all.

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Steve *******

They must have their own account and visa

5 months ago

Vada *****

ORIGINAL POSTER

Thank You

5 months ago

Bob **********

The 800k needs to be in an account in his name only from a foreign bank

5 months ago

Brook ********

Recommendations (best practices):

Open a separate account for each individual.

Most, if not all immigration offices, allow a fixed deposit account, which pays an interest rate up to 2.5% annually and provides immediate access to your money with an interest penalty before 48 months.

It is recommended that you use a different bank than your day to day bank account to avoid any possibility of commingling funds and losing your visa.

5 months ago

Michael *******

Joint account requires a marriage certificate and it’s also a pain to use, as for anything involving a visit to the bank requires both of you to be there. We went that route but switched after 2 h

5 months ago

Dan *********

Yes, well stated.

5 months ago

Brandon ************

Each person that will be applying for a retirement visa or extension will need to show 800,000 baht in a Thai bank account in their name. If it's a joint account then you would need to show double the amount, as it's assumed only half the money is for each person. So that would be 1,600,000 baht.

Do note that some immigration offices will not accept a joint account at all.

5 months ago

Lynnette *******

Normally 1 account per person for each visa.

5 months ago

Reply to

Lynnette *******

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