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What are the financial requirements for the Non-O Retirement visa extension in Thailand?

Thai visa rules Non-O Retirement visa financial requirement monthly income requirement international transfer expat finances bank requirements in Thailand

May 22, 2023

a year ago

Ellen **********

ORIGINAL POSTER

Hello All,

My question is about the financial requirements for the type O-Retirement 12 month extension.

I have two Bangkok bank accounts, one for my visa requirement (account 1) and another for standard living expenses (account 2).

I just transferred 800,000 baht into my account 1 for the visa requirement, from the US, two months prior to my 12 month application of course.

I would like to transition to the monthly 65,000 baht requirement deposit so as not to keep the 800,000 baht in account 1 forever, just keeping account 1 with 800,000 for only one year while the monthly requirement is proven.

If I start transferring 65,000 baht, or more, to account 1 from the US for twelve months. Then move that 65,000 out and over to account 2 for living expenses. Does that meet the financial requirement?

Does it matter that the 65,000 baht is from a pension or can it be from my US savings account?

Does immigration require proof the 65,000 baht comes from a standard pension or do they just require a deposit from outside Thailand? My pension does not meet the 65,000 baht requirement but my US savings account does.

My hopeful result is transferring 65,000 baht from the US, monthly, to account 1 for as long as I live in Thailand.

Then move the 65,000 to account 2 and spend it to live here.

Not keeping 800,000 in account 1 once the monthly requirement is met.

Thanks in advance for your knowledge.

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TLDR : Answer Summary

The question discusses the financial criteria for the Non-O Retirement visa's 12-month extension, focusing on the possibility of transitioning from a one-time deposit of 800,000 baht to a monthly income method of 65,000 baht from the US. The community responses clarify that the 65,000 baht must originate from international transfers, but immigration typically does not require proof of a pension, so funds from a US savings account are acceptable. It is important to maintain evidence of these monthly transfers for the extension application.

NON-O RETIREMENT VISA RESOURCES / SERVICES

Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
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James ********

SUPERB explanation and helpful graphic... Kudos to Moderator Ellie 👍👍👍

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Jackie ***********

The 65k per month must show as an international transfer. In jomtien, they don't care about the provenance of those funds, they don't require proof of a pension. Start sending 65k a month the day you apply for your first one year extension, in preparation for the next year's extension.

Unless they told you to show up in 90 days to prove you still have the 800k, you can move it immediately. You can even send it back to your home country. When you do your next one year extension, you're going to show proof of 12 prior monthly transfers of 65k from overseas. That's all you need

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Jackie ***********

I'm going back to immigration in three months to help my friend with his first one year extension. I'll ask them

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Jackie ***********

@John *********

to be honest, neither you nor I know how they would react if they saw a balance under 400k during the year when you're applying for an extension based on 65k per month and have all 12 monthly payments. Do you have first hand experience with this scenario ? If you do, I'd like to hear about it.

Requirements when switching from 800k to 65k per month are not spelled out anywhere, so I remain skeptical about your interpretation of the rules. You are not an authoritative source.

There were many people on here who insisted that you couldn't use 12 monthly payments of 65k when applying for the FIRST one year extension after the 90 day O visa was granted. I now know this is false, because I just did it myself in March in jomtien. They approved my extension.

So, I'll recant my assertion that you can withdraw the 800k at any time, but I'm still skeptical about what you assert. And I'd very much like to hear from someone with first hand experience in this scenario. My opinion is that if you show the 12 monthly payments, they aren't going to care about your balance

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John **********

@Jackie **********

it's highly unlikely you would get the next extension if you didn't follow the rules for the current one. The first thing immigration check is that you have met the rules for the current extension.

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Jackie ***********

@John *********

Everything I've read says 65k per month *OR* 800k/400k balance.

Nowhere have I read 65k per month *AND* 800k/400k balance.

In my opinion, there are no lingering requirements for your current extension. Once it is stamped in your passport, you are done, and balance requirements during the course of the year only apply if your next annual extension is based on the 800k.

That's my opinion. I could be wrong. I'm going to ask next time I'm in immigration

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John **********

@Jackie **********

you are wrong. To get the extension based on 800k the requirements are that you have the money in your account for 2 months before you apply and that you keep it there for 3 months after the date of your extension then keep 400k for the rest of the year. What you would not need to do is go back up to 800k 2 months before applying for the subsequent extension if you will use the 65k method for that.

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Ellie *******

@Jackie **********

, That is because no one explains how to SWITCH the methods of funds anywhere. All explanation inter-web is based on using the SAME method every year to meet funds requirements.

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Ellie *******

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Ellie *******

@Jackie **********

, IF the immigration officer wants to check if you are on right extension and ask you to show the bank history to check you have been meeting the requiremetns for the existing extension (means, keeping 800K for 3 months and 400K rest of the year) when you apply for next yearly extension, you need to provide it. They could and they have the right to ask.

If you missed the requirement for your current extension, technically you have been overstaying from that point.

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Ellie *******

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John **********

@Jackie **********

this is not correct. You must honour both the terms of your existing extension and your planned extension. So you must keep the 800k for 3 months after getting your current extension and maintain 400k for the rest of the year while at the same time transfer in a minimum of 65k per month for 12 months before applying for the next extension

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Robert *******

@Jackie **********

Please show us the rule change from 2 months prior application a minimum of 800.000 thb in a Thai bank account on your name until 3 months after approval of the Extension of Stay and the rest of the year not less than 400.000 Thb into as you try to tell us.

You wrote: "Unless they told you to show up in 90 days to prove you still have the 800k, you can move it immediately. You can even send it back to your home country." Which is against the rules. So please show us the police order with the changes.

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Ellie *******

@Jackie **********

, as you explained, you're going to show proof of 12 prior monthly transfers when you apply for a new 1-year extension, so it could be a little too late if you Start sending 65k a month the day your first one year extension was stamped in your passport. It would make things easier if start transferring funds 1-2 months earlier than your first extension is approved.

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Ellen **********

ORIGINAL POSTER

Thanks for the information. Seems my thinking was correct. I was overthinking it!!

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Reply to

Ellen **********

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John **********

If you have already had the first year extension on your Non-O you need to honour the terms of that extension. The next year you can switch to 65k baht per month but you need to transfer in from overseas 65k baht each and every month for the previous 12 months before you apply for the extension while also meeting the requirements of the previous extension.

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Ellie *******

First of all, You need to talk with your local immigration office about detail.

Basically, your monthly funds have to be just international transfers, but Immigration offices COULD ask you to show proof of source.

> If I start transferring 65,000 baht, or more, to account 1 from the US for twelve months. Then move that 65,000 out and over to account 2 for living expenses. Does that meet the financial requirement?

For the monthly income method, and in this case, account 1 meets the requirements but account 2 doesn't because monthly income has to be international transfers.

> Does it matter that the 65,000 baht is from a pension or can it be from my US savings account?

As written above, at most offices accept just international transfers, but some could ask for the source. Check with your local office.

You sound like already understand those methods. Here is a rough summery of "how to switch to the monthly income method". Be careful not to miss the both requirements.

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Ellie *******

, you don't have to be back to 800k thb. First-year requirement for funds is, to keep 800k for three months after an extension is granted, and keep a balance of no less than 400K thb for the rest of the year. That's it.

2 months of 800K thb before the 1-year extension application is a requirement for the BANKING method for the second year, not for the monthly income method.

You are mixing the banking method's first-year requirement and second-year requirement. When you are not going to use banked money for the second year, you don't need to put 800K thb in your bank account for 2 months before the end of the first year. You may want to read the police order again.

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Ellie *******

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