Answered3 years ago
What are the financial requirements for a Thailand retirement visa, specifically for the Non-O and Non-OA visa categories?
Retirement visa financial requirement confusion.....so you need 800,000 in the bank PLUS 65,000 per month? Does it change if you want to bring spouse and kids? And then somewhere I read...you need 3 million baht as well. Anyhow can tell me which one is it?
Answer summary
The financial requirements for a retirement visa in Thailand can be confusing. For the Non-O and Non-OA visas, you can choose either to have 800,000 Baht in a Thai bank account or to have a monthly income of 65,000 Baht for the previous 12 months. While the 800,000 Baht must be maintained in the bank for at least 2 months prior to applying, the 65,000 Baht must be deposited monthly over the last year. Additionally, the Non-OX visa has a higher requirement of 3 million Baht. Spouses can apply for a Non-O visa as trailing spouses, but there are specific conditions for their application.
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Frank **********
I think you are confusing the different types of visas and their requirements. It is not a mix and match. Each visa requires a specific process.
Henrik ****
@Frank *********
, yes, the 3 M THB is for the OX while the 800k and 65k per month are two options for O and OA.Hathaway *************
The more answers I read the more confused I get, so........
800k in Thai bank for 2 months
Or
65k per month over preceding 12 months.
If both are correct and I deposit 65k per month does every baht need to remain, or can I use/withdraw/transfer as I see fit?
Asking for a friend 🤣
800k in Thai bank for 2 months
Or
65k per month over preceding 12 months.
If both are correct and I deposit 65k per month does every baht need to remain, or can I use/withdraw/transfer as I see fit?
Asking for a friend 🤣
เจสัน ******
@Hathaway ************
Bank the 800k and leave alone.Then during the same year keep depositing 65K+ monthly. (12 deposits)
Come renewal time you will have evidence to either remain on the 800k deposit or change to the monthly route to justify your first extension.
The choice is yours.
You will earn practically no interest on your 800k so it's probably better to reinvest that elsewhere if you choose the income route.
Hathaway *************
So by the 12 months of the 1st year you bank will hold 800k + 12x65k is that right?
Hathaway *************
As an engineer my brain works better with non ambitious pictures and charts, so this is what I think I understand to be correct
Lopsee **********
OP@Hathaway ************
OR 65k income show for 12 months to get the initial visaLopsee **********
OP@Hathaway ************
as I am the OP asking the question I don't speak from the experience 🤣just from what everyone has said.Hathaway *************
@Lopsee *********
Oh, so if I began 65k transfers today I could have my retirement O 12 months later, do you speak from experience?Lopsee **********
OP@Hathaway ************
no first year 800k in the bank for 3 months
Will ************
@Hathaway ************
800k in 2 months before the date you apply for the 1 yr extension. Leave it there for 3 months after, then it CANNOT drop below 400k for the full year. You can switch to the 65k income route BUT in the first year the above rules apply. So you must have 65k transferred into your Thai bank account every month for 12 consecutive months in order to apply for second yr extension. Bank statements must be provided to show your account did not drop below 400k and all deposits were at least 65k to get the second year. Miss a payment or go under 65k or delays due to month ends/ holidays means your second extension will not go aheadLopsee **********
OP@Hathaway ************
I think 800k in the bank for 3 or 6 months and once 1 year is extended then deposit 65k every month to show bank statement for next year renewal...but yes....i wonder if can use that 65kLopsee **********
OP@Hathaway ************
lol yes and I am the friend 🤣🤣
Bob **********
You need 800k fro
A foreign transfer for the first extension then immediately start your foreign transfers of 65k for the next year extension
A foreign transfer for the first extension then immediately start your foreign transfers of 65k for the next year extension
Lopsee **********
OP@Bob *********
you mean after a year, transfer 65k per month in Thai bank account? For the other year?
Ruth *******
@Lopsee *********
only if he doesn’t want to leave the 800K.Lopsee **********
OP@Ruth ******
so can use that 65k per month? Also, do you need to show how you are getting the 65k per month?Bob **********
@Lopsee *********
no start as soon as you can for your second year
Graham ******
@Lopsee *********
No, during your first year ready for your 2nd 12m extensionHenrik ****
There are numerous "retirement visas": Non-O (800k), Non-OA (800k), Non-OX (3M), LTR($$$).
John **********
What are you calling a retirement visa? Is it a Non-O or a Non-OA visa?
The financials are the same but the OA has an insurance requirement which I think is where the 3M baht reference comes from.
Your wife can get a Non-O visa as a trailing spouse but she will need to do so outside of Thailand, if you are already in Thailand on a Non-O you need to be on an extension before she can do this. How old are your kids? Will they be going to school?
The financials are the same but the OA has an insurance requirement which I think is where the 3M baht reference comes from.
Your wife can get a Non-O visa as a trailing spouse but she will need to do so outside of Thailand, if you are already in Thailand on a Non-O you need to be on an extension before she can do this. How old are your kids? Will they be going to school?
Lopsee **********
OP@John *********
referring to non-oa as commonly regarded as the retirement visa .
Keith ************
@Lopsee *********
there are two visas commonly referred to as a retirement visa. One is the non OA, which you typically get in your home country. The OA has an insurance requirement, but you can meet the financial obligations with money with foreign funds in foreign accounts.The non O requires money in a Thai account. 800,000.
John **********
@Lopsee *********
the Non-O is used for many different purposes (the O stands for Other I believe)Lopsee **********
OP@Keith ***********
ah that's the only difference? I thought Non O was for other purposes....not retirementJohn **********
@Lopsee *********
both are commonly referred to as the retirement visa hence my question. You will need insurance to get an annual extension as well as meeting the financial requirements etc. Kids should be able to get ED visas. But are you currently inside Thailand and looking to get an extension or looking to apply for the initial Non-OA in your home country? If the latter you don't need any money in a Thai bank at all, you show funds in your home countryLopsee **********
OP@John *********
thank you. That really helps.John **********
@Lopsee *********
the Non-O has no insurance requirement but does require money in a Thai bank. If you get a Non-O before coming to Thailand get one for your wife/husband and kids at the same time as it's much less hassle than doing it from inside Thailand. When you arrive open a bank account and put 800k in it and when in the last 30 days of your 90 day Non-O visa go and apply for a 12 month extension. Note funds must be in a bank account 2 calendar months before applying for the extension. You should all be able to get matching extensions at the same time.Keith ************
@Lopsee *********
imo, the non O is easier. It doesn't have the insurance requirement. But if your priority is keeping money out of Thailand, go for the OA.Lopsee **********
OP@John *********
will be applying from outside Thailand. Kids will be home schooled. Ah...so is non O better? Easier?Lopsee **********
OP@John *********
ah...thx....both kids under 16
Garrett ***********
No, 800k OR 65k per month for the last 12 months. For your initial you can only do the 800k, after a year if you've transferred in 65k a month you can use that method.
No, there's no 3m baht requiremtn.
No, there's no 3m baht requiremtn.
Henrik ****
@Garrett **********
, for the initial you can do it in your home country on a tax report showing this income.Lopsee **********
OP@Henrik ***
the deposit as well? Need to show how you got it? As it is gift and savings for a long time.Henrik ****
@Lopsee *********
, of course, a tax report doesn't show a deposit. If you want to use the deposit method, then it is almost the same in your home country with a bank statement. Here I am talking about the monthly income method. This might be done in your home country with your tax report. If your tax report doesn't show a net 65k per month, then other documents showing this net income should do it. We are talking about getting the initial visa at the Thai Embassy in your home country.Lopsee **********
OP@Garrett **********
sorry so is it same amount 800k if you want to bring your spouse and children? (Under 50)Lopsee **********
OP@Garrett **********
ah thx. That helps....also...the "or" part 😆Activity
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