What are the bank deposit requirements for a retirement visa in Thailand and how long must the funds be kept in a Thai bank?

Feb 19, 2018
7 years ago
Alan *****
ORIGINAL POSTER
How much bank deposit is required for a retirement visa. Deposit must be kept in the thai bank for how long? Yr advice is appreciated.
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TLDR : Answer Summary
To obtain a retirement visa in Thailand, you are generally required to have a bank deposit of 800,000 Thai Baht in a Thai bank account. This deposit must typically be maintained for at least 2 months for the initial application. For subsequent yearly extensions, the funds should be kept for at least 3 months prior to the application date. Alternatively, you can qualify under the Monthly Income Method, demonstrating an income of 65,000 Baht per month from overseas, which requires documentation from your home country embassy.
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Andrew ********
Question, do you need to leave the country yearly, or continue on the same visa?
David **********
I won't be here 20 years but a couple at least, I bought a cheap 4x4 250,000 cheaper than renting but still a decent outlay, so I agree 800,000 is basic
Michael ********
Indeed.....rent + food + entertainment + transport + insurance + emergency money + flights home if needed.....it all adds up. 66k a month is not a lot. There is a HUGE difference to 'surviving' in Thailand and living comfortably and enjoying retirement. At 50 you might live 20 more years....So you probably need a few hundred k dollars to do that nice and comfortably, not 25.5k (800k) for only 1 year.
David **********
Yes true, people including me need to do some kind of budget and have something put aside
Michael ********
800k is 66k a month....it is reasonable for them to make sure you can support yourself while in Thailand for the 1 year period. Or invest all of your money and show a 65k income...same principle.....and probably a much better idea in the long run. 800k can be gone quickly in Thailand...!!
David **********
Yes I use aud how do you think I feel haha
Mario *******
@David *********
I’ll just go back to see my Mum and reapply. Not putting 800,000 in a Thai bank. Not at the current rate of exchange.
David **********
I know
David **********
Yes you need to have the money in the Thai bank. It's treated as a new application
Mario *******
I am guessing you don’t have too but thats where your 800,000 Thai Baht may need to be in a Thai Bank. I hope that is not the case as I don’t want all my eggs in one basket.
Alex *********
You apply for another year extension, before it expires. No need to leave the country.
David **********
Just reapply 30 days before it expires I'm sure
Tez ******
Why not move cash from one account to another regularly to maintain a balance of
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0 Live off a pension or other income don't pay bribes or move to Cambodia If you don't have it you shouldn't be in Thai anyway. Go and die a sad death somewhere else.
Michael ********
Agree.
David **********
I get that, there is a nice way of putting things,
Michael ********
Tez is very blunt. BUT what he is saying is true

Many westerners come to Thailand and do not have enough money to survive, no insurance, no money for a rainy day. They then get sick or use all of their money and become a big drain on the Thai system. The 800k yearly requirement s there for a reason. It is to make sure people can live. Bypassing the system because you actually don't have any money can lead to a very bad situation later. If anyone IS coming over on a shoe string, then they should make sure they work out a budget for each month x 12 so they are not caught short....!!
Duncan ********
@Tez *****
your kind dont attract anybody decent
Duncan ********
Wait till he cant meet the criteria
David **********
All good no bad blood
Tez ******
WHen I retire and move permanently to Thailand I dont want broke arse western beggars anywhere near me
Alex *********
Forget it boys, not worth it
David **********
Still not nice buddy Tez
Tez ******
@David *********
but I didnt judge just stated my point of veiw
David **********
Not looking for brownie points or an argument, just saying
David **********
Tez """Ha ha The Thai systems cant cope with their own people let alone broke arse beggars from overseas as well he he he"""" that's nasty mate.
Tez ******
Hang on I am not and have not been nasty or are you illiterate
@David *********
being nasty to me wont get you browny points I am sure.
Alex *********
None of your business Tez
David **********
OK
@Tez *****
just a quick question,

Who are you to judge or decide who does what,

Live and let live buddy,

There is no need to be nasty,

I thought this site was about advice but a slagging match
Tez ******
@Alex ********
on less than
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baht per month?
Alex *********
Of course
Tez ******
Hey
@Alex ********
Do you support yourself.?
Tez ******
Ha ha The Thai systems cant cope with their own people let alone broke arse beggars from overseas as well he he he
Alex *********
You are a plonker Tez
David **********
That's a bit strong buddy 😂
Joe ***********
One can also use the Monthly Income Method. Have the equivalent monthly income of 65,000 Baht from most any source from outside Thailand. You need an Embassy Statement / Affidavit done your Home Country Embassy in BKK.
Duncan ********
They will keep moving the goalposts for all methods of application. Bit like hut searches in a pow camp. Keep you on your toes
Duncan ********
Agreed not strictly legal but the immigration will not implicate you in an illegal submission as they would be implicating themselves. Too lucrative
Alex *********
Yes,they are ways around it,but it's not strictly legal.
Duncan ********
It is possible to get a retirement visa without depositing the 800k. Wait for the flak. Friend of mine paid 16k to a company and has had no issues on a 90 day report. Exchange rates with some currencies is poor. Some people may wish to keep their money in their home country. Check around fb do your research
Bim *******
A guy here pays some agent in Hau Hin 20,000 for his retirement extension. They pay a bank to pay 800,000 and they take it out the next day. Shows 800,000 which I am sure some palms are greeced to overlook the fact it's only been in for one day. Immigration here starting questioning him why he does it in Hua Hin but does his 90 day here. Told him next time extension must be done where he lives. But he ignored them and did it anyway.
Tony ********
@Robert ******
- thanks for the heads up.
Robert *******
@To**
, one of the rules on this page is to don't recommend visa agencies inside Thailand.
Tony ********
Anyone have a good referral for Thai Retirement visa application service at Chonburi? I have an income affidavit, so I don't need the bank deposit. I realize I can do it myself, but would like to speak with a visa service to handle the application expeditiously and at low cost.
David **********
Duncan I think the point is on the initial outlay of cash not the ongoing, people will spend what they can afford
Duncan ********
Robert some people do not have the
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per month but can survive here on
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. I would not try to deny them . Live let live. One day the money required will be increased and many more barely making 65k will fall from grace
David **********
I agree, no sense
Robert *******
Extension of stay is 1.900 Thb. Paying 16.000 Thb, that is 14.100 Thb more expensive, that's a big change in exchange rates to make it cheaper.
David **********
Yes, I did mine myself to keep things right
Duncan ********
I choose not to condone the actions of people I have never met. It an individuals choice
Duncan ********
True David. I once extended an O visa at jomtiem he gave me another 12 months for
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. We know its not the right way but if you dont have enough to leave 400k or 800k in the bank good luck
David **********
In pattaya that can be done also,
David **********
Some immigration office are stricter than others. To my knowledge you need 800,000 Thai baht on your initial application, and needs to be in a Thai bank for a minimum of 30 days, at least where I applied that was the information, you also need to show documented evidence that it came from overseas

And again if you renew in 12 months,

The 90 day reporting you only show your passport,

Again it depends on the office you go to,

So it's advisable to check with them
David **********
I guess what I'm trying g to say is, what works for one may not work for everyone
David **********
OK I understand that, any comments I make are based on my experience to date.

Example I had to change offices due to moving to a different Provence, the information given to me was not the same as the first office,

Hope that makes sense
Tod *********
@Da***
, I believe you only applied for a 90 day Non-Immigrant Type O visa at the thai immigration office, NOT a year extension yet, correct?

The Non-O inside the country requires proof it came from abroad (and at least at Chaengwattana you don't need it to be in the bank ANY amount of time)

I've had people transfer the money in and we've gone right out and applied for the 90 day Non-O the next day at section C-1 out there. It went under consideration 14 days and we went back and got the 90 day Non-O stamped into their passport. They knew that by the time they would apply for a yearly extension the money would be seasoned the requisite time

BTW: To get your first yearly extension using banked money, funds need to be seasoned for 60 days prior to the date you apply and for every subsequent yearly extension it needs to be seasoned for 3 months prior to your application date.
Mike *******
Ok don't know then you were lucky
David **********
I have non 0 now, I renew next month so you may be right, thanks
Mike *******
That was propaly changing. A tourist visa to a non-o.u will need full amount when u get non-o.
David **********
That's what I mean by offices, the one I went to was only 30 days,

Unless it has just changed
Steve *******
1st application 2 months, subsequent applications 3 months
Mario *******
I got mine and at least for U.S. I had the money in Bank of America.
Mario *******
@Tod ********
correct. My first year here.
Tod *********
@Mario *****
nope, it's fine share your comments, that's what the group is about.

I was only saying you didn't get a year long extension at the immigration office inside thailand by just showing your Bank of America balance, or did you?

You bought a visa from a thai consulate in the US by showing your US bank account information to them, right?
Mario *******
@Tod ********
good to know in the future. Best for me to keep my comments private.
Tod *********
@Mario *****
you did NOT get a yearly extension of stay inside the country at the thai immigration office. :/ That requires one of three things

banking 800K baht in a thai bank account the requisite time

using a notarized statement from your consulate showing you get 65K baht a month in income

a combination of banked money and income from abroad that equals 800K baht in a year
Michael ********
Also OA visas are not specific to the US and apply to most countries....

As Xavier said....start with the money in your home bank and then for the IN country extension (not renewal) you need it in a Thai bank....OR show 65k baht in monthly income (this can be from outside of Thailand).
Michael ********
This is because Mario applied for a OA retirement visa from the US. You are talking about a year long extension based on retirement. The 2 are not the same.
Alex *********
Not heard of that
David **********
I think that only works for US citizens.
Xavier *****
The first time you have to show the money in your local bank account of your residency country, in the currency of your country. Once you are in Thailand next year, when asking for a 1 year extension, is when you should show the money moved to thai bank at least 3 months before.
Mario *******
@Steve *******
I did not have to have money in a Thai bank. Just a letter from B of A that I had the equivalent in my account.
Steve ********
Mario can you clarify that you didn’t need to have the 800 in a Thai account. Thanks
Alex *********
OK
Mike *******
2 months in bank first time 3 months next renewals
Alex *********
Or you have to show equivalent income from the abroad
Alex *********
Yes, unfortunately
Steve ********
@Alex ********
thank you
Alex *********
You have to renew every year
Steve ********
And on a retirement visa how often is the visa verified please?
Steve ********
Alex Pokorny is that every time your visa is verified you have to prove the 800k is there?
Alan *****
ORIGINAL POSTER
Thanks Alex
Alex *********
800 000 baht for three months in the Thai bank
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