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Answered8 years ago

What are the financial requirements for a retirement visa extension in Thailand?

Mike ********
asked Oct 30, 2018
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Hello everyone, I have a question concerning the banked money you need to have to get the retirement extension. I currently don't have enough cash in my Thai account to meet the requirement as I've sent the bulk of it back to the U.S. Is there a time requirement for how long the money has to be here in my Thai bank prior to applying for the extension? Mine is up for renewal next March, do I need to have the cash in Thailand 60 days prior to that date? Thank you in advance.
Answer summary
To obtain a retirement extension in Thailand, a minimum of 800,000 THB must be held in a Thai bank account under your name. This amount needs to be maintained for 2 months prior to the first application for an extension and for 3 months if it's a consecutive extension. As of now, the U.S. Embassy is discontinuing certified income letters, which impacts the requirements if you plan to apply in March. It’s recommended to have the funds in your account well in advance to ensure compliance with immigration rules.
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Mike ********
Mike ********
OP
Robert Legas, it Thai immigration going to accept the certified monthly income letter in March of next year, as the American embassy will discontinue issuing them in December?
Tod *********
Tod *********
at this time it "looks" like the immigration office is going to follow their own directive and let the consulate notary letters be valid for 6 months AFTER they are no longer issued.

BUT in reality no one knows right now.
Robert *******
Robert *******
To financial requirementts are: Option 1) Minimum 800.000 Thb in Thai bank on your name 2 months prior the application date for first application of Extension of Stay or 3 months for consecutive applications. Option 2) Monthly income of minimum 65.000 Thb certified by Embassy. Option 3) Combination of option 1 and 2 where the combination is not less than 800.000 Thb.
William *********
William *********
Three months to be safe
Joe ***********
Joe ***********
And it must be a liquid account in your name only
Joe ***********
Joe ***********
For the First Extension of Stay the money only has to be in a Thai bank for 60 days
Marty *********
Marty *********
I believe it is only 2 months the first time you get an extension of stay and 3 months for each additional extension. Best to play it safe. You have time to get your money here. I got my first yearlong extension 3 weeks ago. I did based on the money in my Thai bank account.
John *****
John *****
For an over 50 years old renewal extention the money needs to have been in the account for 3 months.
Henda *********************
Henda *********************
@Joe **********
Thank you so much.. This helps... 👍🏼😊
Joe ***********
Joe ***********
@Henda ********************
- The 800K does not have to stay in the account except 2 months before the First Extension and 3 months before the 2nd Extension. In between time it can be elsewhere
Jonn *********
Jonn *********
@Mikkel ******
I hold my hand up and admit that I did it on my first time.

Works fine.

In and out several times that year.

I even asked at bkk airport the first time to check the multiple entry stamp was good.

The officer commented that all good.

OH, big boss who sign.

Say no more.

But if you can meet the criteria and do it yourself, it's 3900 baht. Fees.

Plus the legwork.

I can't say that it's a loophole or shonky, because people are directed to certain agents outside for this service.
Mikkel *******
Mikkel *******
@David ******
, if that power of the IO office boss is used, then of course it should be relatively clean. But a lot of services has simply faked documents, and that a whole other story.
Jonn *********
Jonn *********
@Mikkel ******
The way the Australia and UK works it's proof via embassy of 65,000 monthly.

Or the 800k matured in a Thai account.

Or 400k if married.

Recently some countries are not going to be signatories to the affidavit of income or savings.

But I do see several who have used a letter from their own country Bank as proof.

And it's been accepted.

There is also a discretionary power the IO office boss has to waive the 800k matured money.

I think this is how visa agents get the ok.

And why some IO office send you to the agents outside for this service 😀
Mikkel *******
Mikkel *******
Sorry
@David ******
, re-read your post.. You did say and or.
Mikkel *******
Mikkel *******
@David ******
its OR a monthly income of 65.000, OR 800k banked for 3 months.. Not both.. As for the advice to pay 20k for some shady way to get extension, I would be wary of doing that, as they are cracking down on that kind of business, hard..
Mike ********
Mike ********
OP
Is there a way to get it for 20K?
Jonn *********
Jonn *********
Jonn *********
Jonn *********
Pay the 20k..
Jonn *********
Jonn *********
@Mike *******
Then it's 400,000

With proof of marriage.
Mike ********
Mike ********
OP
My girlfriend would claim she was my wife if I were to have a "heart attack" (for example).
Jonn *********
Jonn *********
Mike Lomeli

Option two...

We see it mentioned here many times.

And censured now and then.

But 20k is a less painful.

Or only way to go.

Can be much lower too.

I personally don't trust Thai banks.
Mike ********
Mike ********
OP
I don't like having that much money in Thailand, it makes you a prime target for corrupt activities.
Jonn *********
Jonn *********
I think there is a statute of time on the use of.

Brits are facing a similar dilemma
Mike ********
Mike ********
OP
I'm under the impression that the U.S. consulate is not going to be doing income verification forms starting in December. I'm wondering if I got a form notarized by them here in Phuket in November if Thai immigration would let me use it in March?
Jonn *********
Jonn *********
@Mike *******
And or 65,000 baht monthly income
Mike ********
Mike ********
OP
You're welcome.
Henda *********************
Henda *********************
@Mike *******
Thank you Mike. Almost a million.. 😊
Mike ********
Mike ********
OP
Henda *********************
Henda *********************
May I ask a question too here?

How much money ( Baht) do I need in my Bank account as an over 50 year old to stay in Thailand? I mean for a visa to stay for a year or more..? I thank you in advance..
Mike ********
Mike ********
OP
ok, thank you for the quick response.

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