Answered7 years ago
What are the financial requirements for a 12-month permission of stay in Thailand based on marriage or retirement?
Here is a small bit of information that might be useful to fellow members living in Hua Hin.
Today I went along to the new main immigration to ask about the financial requirements on application for '12 month permission of stay' based on Marriage or retirement.
If was confirmed that when applying, the required funds DO NOT have to be in Thai baht. The funds CAN BE HELD IN A FOREIGN CURRENCY ACCOUNT in a Thai Bank , the bank book needs to updated on the day of application & accompanied by a letter from the bank stating that the amount you hold is equivalent or more than the required amount to meet the financial requirements.
In my case , on application for a 12 month permission of stay based on marriage to a Thai National , I will hold 400,000 baht in a foreign currency. i.e. GB POUNDS £ & accompanied by a letter from the bank.
I hope this helps.
Today I went along to the new main immigration to ask about the financial requirements on application for '12 month permission of stay' based on Marriage or retirement.
If was confirmed that when applying, the required funds DO NOT have to be in Thai baht. The funds CAN BE HELD IN A FOREIGN CURRENCY ACCOUNT in a Thai Bank , the bank book needs to updated on the day of application & accompanied by a letter from the bank stating that the amount you hold is equivalent or more than the required amount to meet the financial requirements.
In my case , on application for a 12 month permission of stay based on marriage to a Thai National , I will hold 400,000 baht in a foreign currency. i.e. GB POUNDS £ & accompanied by a letter from the bank.
I hope this helps.
Answer summary
The user shared insights about the financial requirements for obtaining a 12-month permission of stay in Thailand based on marriage or retirement. It was confirmed that applicants can use funds held in a foreign currency account, as long as they present a bank letter verifying that the amount meets or exceeds the required 400,000 baht equivalent. The conversation also uncovered various opinions about the acceptance of foreign currency accounts across different regions in Thailand and highlighted important distinctions in bank account types applicable for visa requirements.
42 repliesnewest first
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Benjamin ******
How do you get a foreign currency account in a Thai bank?
Martin ***********
OP@Benj****
3 year ago when I was a tourist I open a Thai baht account & GBP Foreign currency account. The idea being to transfer regular amounts from U.K. Bank to Thai bank in GBP to attain the necessary funds to meet any financial requirements set by immigration. There is a fee involved to send & receive money & alas the exchange rate has fallen.... but it was for a purpose. The money will remain untouched until the rate rises, so it could be there a long time but at least it serves to acquire a '12 month permission of stay'Benjamin ******
@Martin **********
Thanks, I didn't know such a thing existed here in Thailand 👌Martin ***********
OP@Benj****
walk into your bank and ask to open a Foreign currency account, simple .
Danny *********
By opening a foreign currency account at a Thai bank. Ask your bank for details.
Bram ***************
@Benjamin *****
I think he meant your.Benjamin ******
@Guenter *******
"our"? Who is "our"?Guenter ********
Open the account and let our bank transfer the amount (from your home country ?) to the new FC account here in THA. Probably by SWIFT.
Tony *******
Useful tip. Thanks
Daniel *******
Would it be a non-visa comment if I asked what the advantages of this type of account would be?
Jonathan *************
Daniel Wolfe i doubt you would get better interest rate here for a foreign currency than you would for that same currency in its home country? I may be wrong. There could be bank charges for transfers to consider? All minor compared to potential losses (or gains) on exchange rates. Crystal balls anyone? :) Ron Angel
Guenter ********
@Ron ******
Bangkok Bank doesn t charge for fcd ... interest rate for USD is 0.9 % p.a.Daniel *******
Ah! So there are other reasons. Interesting.
Guenter ********
approx 10 years ago the interest rate was > 5 % p. a.
Daniel *******
Could be a long wait..
Ron *******
The idea is you hold your money in Thailand in foreign currency and exchange it when the rate is preferable to you.
Be aware though, the accounts are not free to operate. There are yearly charges plus commissions to pay on deposits and withdrawals.
Be aware though, the accounts are not free to operate. There are yearly charges plus commissions to pay on deposits and withdrawals.
Daniel *******
@Jonathan ************
Uh, yeah- that’s the only one I can think of... To each his own, I guess.Jonathan *************
gambling on exchange rates?
Ron *******
Foreign currency accounts are ok as long as you hold, at this time, a lot more than your going to need for your extension. The Baht is strengthening daily and if your tight too the
*******
k your going to find yourself in trouble when they do the conversation.
Tod *********
Another tidbit about what bank accounts can or can't be used here is the confusion about whether you can use "fixed" or "term" deposit accounts.
Evidently in Thailand there are two different types of fixed deposit accounts. One you CAN access the money any time during the term of the deposit (even though you might get a penalty or lose interest) <- this type of account CAN be used for proof of funds
One other type is where you CANNOT access the money any time during the term of the deposit <- you CANNOT use this type of account for proof of funds.
Just wanted to point out that there are two types and you need to be careful what one you use :O
Evidently in Thailand there are two different types of fixed deposit accounts. One you CAN access the money any time during the term of the deposit (even though you might get a penalty or lose interest) <- this type of account CAN be used for proof of funds
One other type is where you CANNOT access the money any time during the term of the deposit <- you CANNOT use this type of account for proof of funds.
Just wanted to point out that there are two types and you need to be careful what one you use :O
Jonathan *************
VERY important distinction. Who would have known? (Except Tod) THANK YOU
Tod *********
okay, just so we're clear, there is NOTHING in the rules that says you can't have a foreign currency account in your name in a thai bank and use it to meet the proof of funds for your extension.
@Christine **********
, There are reports of people successfully using a foreign currency account in Chiang Mai before, and if they said you couldn't use one I would have filed an appeal right on the spot.
Christine ***********
@Tod ********
Actually, one of the officers 'super helped' without benefits with the whole process but in the end, when we were in the bosses office, the boss said no! Never mind, theres always a positive, maybe we got a better $ rate changing than we are now!Tod *********
@Christine **********
wow good to know. :/ Sorry about that, it's the first case of one not being accepted Ive heard of :(Christine ***********
That is what we thought having looked at all the comments on here and no amount of protest worked. It was latter half of last year (at Promenada). We had the letter from the Thai bank dated that day with the Baht equivalent written on it and they still would not accept it and had to get another letter for our baht account showing the funds.
Guenter ********
... equal to and not less than ... MoFA A copy of bank statement showing a deposit of the amount equal to and not less than 800,000 Baht or an income certificate (an original copy) with a monthly income of not less than 65,000 Baht, or a deposit account plus a monthly income totalling not less than 800,000 Baht.
Guenter ********
Yes, it s either one or the other ... OR ... OR ... thorough reading will help. This paste is from MoFA .
John **********
@Guenter *******
are saying that you need 800k baht plus (with) 65k baht monthly income. Not what I have heard. It is either one or the other.Christine ***********
They would not accept fcd funds In Chaing Mai last year.
Guenter ********
I did extension of stay (purpose retirement) with USD ( ... equal to and not less than ... ) in February at Chaeng Wattana.
Emre ********
Banks don't open fx account. USD checking account. Am I wrong? Unless you have a company bank account.
Florian ***************
Emre Yılmaz apparently you edited your question. your original question was about „bank account“. can’t tell about USD account
Emre ********
@Florian **************
Dan Beattie USD dominated fx account?Emre ********
@Dan ********
USD dominated fx account?Guenter ********
Do a thorough research on Internet BEFORE and then you can show the branch employee the website from her/his own employer (like this example from UOB)
Samantha ******************
It depends on the branch. Some will some won't. Just keep checking until you find the one that does.
Guenter ********
Yes ! Visa O A or extension of stay comes with the permit to open bank (savings) account(s) in Thailand. What all the numerous bank employees are telling us since many years (Have work permit ?) is WRONG ! TiT !
Dan *********
Emre Yılmaz yes
Florian ***************
@Emre *******
yes
David ************
Emre Yılmaz I’ve opened 3 accounts at Kbank. No work permit
Rolf *********
And the GBPounds Go Down and down...555
Guenter ********
Not only GBP ... USD & EUR as well
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