Answered4 years ago
What are the current requirements and potential changes for the O and O-A visas in Thailand for retirement?
Hi all! 🙂
New to the group and soon to be in Thailand. I have a question regarding O and O-A Visa.
I will be 50 next year (Oct. 2023) and will be able to apply for retirement visa. As Canadian I also believe I can apply for O-X 5 years Visa.
My question is, how likely Thailand will change requirements to apply for that Visa next year? Can they bring up the 800K Baht to above 1M+ Baht? Is there a risk they cancel this Visa program or raise the retirement age to 55 / 60 y.o ?
and also once you get the O / O-A Visa, what happen if you don't renew the following year and skip for a few years before renewing, would you leave the 800K Baht in a Thai Bank or transfer back to Canada?
And finally is it possible to keep the amount in USD equivalent to 800K Baht or its mandatory to convert into Thai Baht when deposited in the Thai account?
Sorry for all the questions, quite new to all this 😁
May thanks for your kind help 🙏
New to the group and soon to be in Thailand. I have a question regarding O and O-A Visa.
I will be 50 next year (Oct. 2023) and will be able to apply for retirement visa. As Canadian I also believe I can apply for O-X 5 years Visa.
My question is, how likely Thailand will change requirements to apply for that Visa next year? Can they bring up the 800K Baht to above 1M+ Baht? Is there a risk they cancel this Visa program or raise the retirement age to 55 / 60 y.o ?
and also once you get the O / O-A Visa, what happen if you don't renew the following year and skip for a few years before renewing, would you leave the 800K Baht in a Thai Bank or transfer back to Canada?
And finally is it possible to keep the amount in USD equivalent to 800K Baht or its mandatory to convert into Thai Baht when deposited in the Thai account?
Sorry for all the questions, quite new to all this 😁
May thanks for your kind help 🙏
Answer summary
The discussion revolves around the O and O-A visas for retirement in Thailand, particularly focusing on the 800K baht requirement. The user expresses concerns about potential changes to visa regulations, such as increases in the required amount or adjustments to the retirement age. Responses indicate that while changes are possible, significant alterations are unlikely. The conversation also touches on maintaining funds in a Thai bank account, the possibility of using foreign currency accounts, and the process for Canadians to use embassy-issued affidavits for income verification.
26 repliesnewest first
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Ken ********
O visa lasts for 3 months then you apply for a years extention if you don't apply for the extention every year you have to reapply from beginning again
Brandon *****
OP@Ken *******
Thanks for the info 🙂
Doug ********
BAHT!!!
Nick ****************
Thailand is a place where money is King. The idea is that you put 800k in a Thai bank (with no safeguards if the bank goes under). Bit by bit they will get it out of you and should it not be available then you will soon go home. A friend of mine had 800k plus 12k he had earned in interest in Bangkok Bank. When he died the medical costs amazingly came to 795k and the funeral and other costs came to 17k. How lucky he had the exact amount in his account !!!!!
Ken ********
@Nick ***************
the world is that way now has been for at least 20 yearsBrandon *****
OP@Nick ***************
wow shocking coincidence 🧐🤔Philip **********
Do everything yourself. It’s extremely easy. You can obtain a verification letter of income from the Canadian Embassy via email. Costs $50.
That way you don’t have 800 k in the bank doing nothing.
Come here first then apply for your extension based on retirement.
Read 22
That way you don’t have 800 k in the bank doing nothing.
Come here first then apply for your extension based on retirement.
Read 22
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Brandon *****
OP@Philip *********
thanks a lot for your help 🙂....quick question, do you know if income from dividends are consider income to the eyes of Thai authorities for Visa purpose? I currently am switching from work income to dividend income.Philip **********
@Brandon ****
No not income. My friend tried he was denied.
Helen ********
@Brandon ****
as a Canadian you don't have to transfer the funds to a Thai bank account as the Canadian Embassy in BKK or Consulate in Chiang Mai will issue you an affidavit of income which you bring to Immigration. All you need is your proof of income from CRA which is easy to access.We did this last year, got Non O's before we came to Thailand, then did the extension with the affidavit... easy!
Brandon *****
OP@Helen *******
that's awesome! thanks for the info 🙂
Sharon *******
I use a foriegn currency deposit account for visa funds no problem but you do have to keep en eye on exchange rates or keep a little extra to allow for fluctuations.
The other questions are pretty impossible to answer I'm afraid
The other questions are pretty impossible to answer I'm afraid
Brandon *****
OP@Sharon ******
Thanks for the answer, much appreciated
Zap **********
Has to be baht (and has to come from foreign source) and if you transfer in USD or CAD the bank in Thailand will convert to baht (better rate than if you convert to baht in Canada). If you don't renew and want it again later then you start all over including the O/O-A. Feel free to DM
Zap **********
Jeffrey good to know. Sorry for my misinformation Brandon was just going based on info from local office.
Jeffrey *********
@Michelle ***********
@Brandon ****
The 800k can be kept in a foreign currency account at a Thai bank, but the amount has to always equal or exceed the designated THB amount even as exchange rates fluctuate. You do need evidence that the funds came from abroad if you're applying for a Non-O within Thailand, but not for annual extensions.Brandon *****
OP@Jeffrey ********
thanks for your help 🙂Brandon *****
OP@Michelle ***********
Thanks for your help 🙂 will DM you for extra questions if I have. cheers 🥰
Andy *********
All the hoops you have to jump through for a OA visa make the O visa rather attractive. I'm letting my OA visa expire this year.
Steve ********
@Brandon ****
Can get almost two years from an OA with one border bounce. No visit to immigration with stacks of paperwork to beg for an extension. Only ever deal with home country embassy through the mail. I love it!Steve ********
@Andy ********
OA is the best for those who return to their home country every couple of years. Means never having to transfer money into Thai bank account, and never having to visit immigration! That alone is a huge bonus!Andy *********
Steve Smythe Understand, the OA I have now is the first one I've had since insurance has been required. Seems the insurance/background check/medical form is a hindrance for some though. The pandemic changed up our travel habits somewhat. My wife is Viet, so I have a visa exemption there. That helps with our decision where to go.
Brandon *****
OP@Steve *******
oh I didn't know about that, thanks again for clarifying 👍Steve ********
You're asking questions which realistically no-one has the answers to, except to say it's highly unlikely there will be any wholesale changes. Often there's a bit of "tweaking" but if we all worried about potential changes in life, it would be better to just stay in bed every day
Steve ********
@Brandon ****
There's nothing. I've been on retirement visas for years and stay abreast of any rumoured or proposed changes, and at this stage there's nothing at all.Brandon *****
OP@Steve *******
yeah I do know all those questions are quite impossible to answer, was just hopping people in the group might heard something about a possible change in regulations 🙂Activity
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