ask
Search
Ask
Answered3 years ago

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

Bob *******
asked May 28, 2023
3.2k
views
22
replies
8
likes
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
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.
22 repliesnewest first
14

Click comment and we will ask for your email, then OTP, then name.

John **********
John **********
Are we talking Baht. ??
Brian ********
Brian ********
James ***************
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 ********
Brown ********
Yeah I'll confirm it's 800k for another 3 months then never below 400k
Joe ******
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 ******
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 **********
Steve **********
@Joe *****
If you have 65k/ mo from abroad to service your visa...no need to put 800,000 anywhere
Steve **********
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 *********
Jawahar *********
If less than 3 months you can make another plac it not bangkok
Bob **********
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 **********
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 *******
Gregor *******
@John *********
do they check from whom the 65k transfers come from? Other than oversees
John **********
John **********
@Gregor ******
yes, very much so. If they're not from overseas they don't count.
John **********
John **********
@Gregor ******
no it doesn't matter as long as they show up in your bank statements/book as being international transfers
Gregor *******
Gregor *******
@John *********
yes but it doesn't matter who sends from oversees?
เจสัน ******
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 *******
Graham *******
@John *********
Not saying you are wrong John but first time I saw what you wrote here!
Bob *******
Bob *******
OP
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
Bob *******
Bob *******
OP
@John *********
thank you John for your help much appreciated
John **********
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.
John **********
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 *******
Bob *******
OP
@John *********
thank you

Activity

14 joined
Bob *******
Bob *******
Bob *******
Bob *******
Bob *******
Bob *******
14
people
Thai Visa Advice and Everything Else
Thai Visa Advice and Everything Else
...members60% approval
Member 1
Member 2
Member 3
Member 4
Member 5
Member 6
Member 7
Member 8

Related

25
Can I apply for a retirement visa in Thailand if my funds have only been in the bank for 5 weeks?
9964212mo
What is the best approach for obtaining a retirement visa in Thailand as an expat?
6.2k58543mo
What are the requirements for maintaining a Retirement Visa in Thailand, specifically regarding the 800,000 baht funds?
5.6k46637mo
What is the cost and requirements for a retirement visa in Thailand if I don't have 800k baht in a Thai bank?
26.5k1903958mo
Do I need savings in addition to proof of monthly income for a retirement visa in Thailand?
2.1k15201y
What are the best options for retirement visas in Thailand and what should I know before applying?
8.1k73711y
What are the current requirements for the retirement visa in Thailand regarding bank deposits?
6.3k40441y
What are the implications of booking an exit flight for a retirement visa in Thailand?
7.7k561061y
What are the rules for using a bank account for retirement visa extensions in Thailand?
6.3k46811y
Can I stay in Thailand for 120 days by obtaining a 60-day stamp and re-entering after a short visit to Cambodia or Nepal?
1.9k14202y
Can an agent handle my 90-day report for a non-O retirement visa in Bangkok?
3.9k40162y
What are the visa options for US citizens over 50 retiring in Thailand?
5.6k46512y
What is the most suitable visa for retiring and traveling frequently to Thailand?
4.3k35402y
Is it worth getting an agent to manage my Thai visa requirements if I have 800,000 Baht but don't want to tie it up in a bank?
141.9k2683532y
Can I apply for another 12-month Non-OA retirement visa in Thailand after my initial visa expires?
2.4k18222y
What are the best visa options for Australian retirees planning to stay in Thailand?
1.9k13153y
What is the best strategy for obtaining a Non-O visa in Thailand for retirement?
2.2k13223y
What is the correct bank deposit requirement for a retirement visa in Thailand: 800k or 400k baht?
1.1k1183y
What are the requirements for maintaining a retirement extension visa in Thailand concerning bank balance and timing?
4.4k33464y
What are the steps to obtaining a non-o retirement visa and extensions in Thailand?
10.8k143095y
What are the costs and requirements for obtaining a retirement visa in Thailand through an agent?
8k77535y
What are the current requirements for maintaining a retirement visa in Thailand, specifically regarding the 800,000 THB financial rule?
5.3k46465y
What are the key considerations and requirements for obtaining different retirement visas (types O and OA) in Thailand?
8.3k641015y
What are the best options and steps for retirees to obtain a visa for living in Thailand?
6.5k49756y
What are the requirements for obtaining a retirement visa extension in Korat, Thailand for over 50s?
49758y

Resources

Need help with your retirement visa?