What are my options for maintaining my retirement visa with 800k in the bank and monthly transfers?

May 28, 2023
2 years ago
Bob *******
ORIGINAL POSTER
Hi good morning I have a question I have 800k in the bank just got a

extension for 1 year. On a non o retirement I know I have to keep 400k in the bank for another 3 months. But I have just started putting 65k in the bank on a monthly basis. So what’s my options

Thanks in advance
1,718
views
8
likes
48
all likes
22
replies
0
images
14
users
TLDR : Answer Summary
The user has 800k in the bank related to a NON-O retirement visa and seeks advice on maintaining this visa while also making monthly foreign transfers of 65k. The advice provided emphasizes that the user must keep the entire 800k in the bank for 3 months from the extension date before the requirement drops to 400k. Additionally, the user needs to show proof of 12 months of the 65k monthly transfers to switch to the alternative financial requirement for the next year's extension.
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.
  • Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
John **********
Are we talking Baht. ??
Brian ********
James ***************
Speaking from actual experience of switching from
*******
k to 65k rule at jomtien immigration. When my renewal was due i took 12 month evidence of 65k per month for previous 12 months. Informed immigration officer i want to switch from
*******
k to 65k rule. Immigration officer not interested in the previous 12 months of evidence showing i could comply with regulations. I also had evidence of pension salary. Again not interested. Told me to produce this evidence in 12 months when i come back to do my next extension along with bangkok bank statement showing the monthly international transfers into my account. Was not given date to come back to show i had complied with 800k in bank for 3 months as is the norm at jomtien immigration.
Brown ********
Yeah I'll confirm it's 800k for another 3 months then never below 400k
Joe ******
I would suggest, put your 800k in to a five year fixed deposit account. I get 1.25% for it with Bangkok Bank. Not only is it your visa guarantee but if things go pear shaped, you have sufficient funds to start new.

Then transfer your monthly 65k in to a seperate savings account and live of that.
Ken ******
@Joe *****
hi so you just show immigration the certificate of fixed deposit, not account book showing monthly any more?

do you think immigration accept one year fixed deposit? and what is interest rate?
Steve **********
@Joe *****
If you have 65k/ mo from abroad to service your visa...no need to put 800,000 anywhere
Steve **********
The 65k needs to be direct deposited from abroad.your bank book deposits coded ( FFT ) foreign fund transfer. for a number of months, then can withdraw your nested baht.

As long as your statements show every month, for a year, your visa's fine. Once deposited, its yours to debit at will.
Jawahar *********
If less than 3 months you can make another plac it not bangkok
Bob **********
Start the 65k foreign transfer immediately you’ll need all 12 months and yes you need 800k in your bank for 3 months after good luck
John **********
You have to keep the entire 800k in the bank for 3 months from the date of your extension and only then can it go down to 400k for the rest of the year. Next year you need to have a full 12 months of a minimum of 65k transfers each month from overseas before you apply for your extension, once you get that extension you can withdraw the final 400k. On the plus side you don't need to keep the 65k transfers once they show correctly as from overseas in your bank you can spend them
Gregor *******
@John *********
do they check from whom the 65k transfers come from? Other than oversees
John **********
@Gregor ******
yes, very much so. If they're not from overseas they don't count.
Gregor *******
@John *********
yes but it doesn't matter who sends from oversees?
John **********
@Gregor ******
no it doesn't matter as long as they show up in your bank statements/book as being international transfers
เจสัน ******
I keep two accounts.

Transferring 65k(+) FTT monthly to show 12 deposits for IO Non-O Retirement extension.

I then transfer the deposit to another account keeping a small balance to pay bank, IO extension of stay / re-entry permit fees etc.

This way Immigration cannot see my monthly expenditure; getting about two pages of my bank book, with a very short corroborative bank statement detailing the total deposits and balance come renewal time.
Graham *******
@John *********
Not saying you are wrong John but first time I saw what you wrote here!
Bob *******
ORIGINAL POSTER
So Graham can I take the 65k out of bank each month from now and show them statements for 12 months deposit when renewing extension next year. But have to put the 400k back to 800k when renewing extension
John **********
@Bob ******
you don't need to go back up to 800k, that would only apply if you were going to use banked money for the next extension which you are not. And yes you can do whatever you like with the 65k once it shows in your account as coming from overseas, your statements, bank book and bank letter will suffice. Note I think the letter is somewhat different in this case but no personal experience.
Bob *******
ORIGINAL POSTER
@John *********
thank you John for your help much appreciated
John **********
@Graham ******
basically each extension is entirely independent of any other extension so if you are moving from banked money this year to monthly income next year you have to meet the requirements of both years in full.
Bob *******
ORIGINAL POSTER
@John *********
thank you
Thai Visa Advice and Everything Else
... members · 60% approval rate
The Thai Visa Advice And Everything Else group allows for a broad range of discussions on life in Thailand, beyond just visa inquiries.
Join the Group
Thai Visa Advice and Everything Else
View the Conversation
Thai Visa Advice and Everything Else