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What are the financial requirements for the O retirement visa in Thailand regarding the 800,000 Baht and its renewal?

Thailand retirement visa O visa financial requirements 800,000 Baht requirement retirement visa renewal Thai immigration rules

Mark ********

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asked Jun 27, 2021

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Hi, I am just after some clarification please. The 800,000 in the bank for the “O” retirement visa issued in Thailand— after the initial retirement visa, or even a renewal, how long does the 800,000 need to stay at that level and not drop below 400,000, and again before renewal, need to be at the 800,000 level? 

I am told it only needs to be at 800,000 for two months before a renewal, with no requirement to keep the figure at 800,000 (but not below 400,00) after being issued a retirement visa? 

A reasonably recent answer from Tod, which was a reply about an “OA” visa and not an “O” indicated the funds had to stay at the 800,000 for 3 months after being issued and then for 2 months before renewal.

Is this the same requirement for the “O” visa as well? - 3 after and 2 before?

Or for the “O” purely 2 mths before renewal?

Cheers

Mark

Answer summary

To maintain the O retirement visa in Thailand, you need to have 800,000 Baht in your bank account for 2 months before renewal. After the initial issuance, the funds should remain at this level for 3 months. It is important that the amount does not drop below 400,000 Baht at any time during the year. Alternative options, such as monthly income transfers of 65,000 Baht, are also available after the first year, allowing you to access these funds immediately.

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Chris ****

Chris ****

I find using a one time transfer and a local debit card to be one of the perks of having the retirement bank account. The extra 400K is not a lot of money unless you don’t save in general.

1

Rob ******

Rob ******

@Samurais ***********

Thanks , just deposit all the 400,000 in my account , since its so little value in yours . I appreciate all . Sticking extra money and leaving it in a Thai bank account , sounds to me like you are NO investor . Cause that is a zip use of money .

1

Stuart *********

Stuart *********

For banked money it needs to be in for 2 months prior and needs to stay 3 months after. It can’t go below 400k for the rest of the year. If you switch to international transfers after the first year then you need 65k plus per month transferred in but you can spend it the day it comes in, and no need to keep a balance.

2

Mark ********

Mark ********

OP

Thank you everyone 🙏🏻

0

Annette *********

Annette *********

In Phuket, you can choose any bank that will have you. (Bangkok bank didn't want to know). Im with Krungsri, who were more than helpful, spoke excellent english, and produced statements and letter and updated bank book all in a short wait when needed😉

1

Doug *********

Doug *********

3 before and 3 after, I just renewed @Buriram immigration last month.

0

Tod *********

Tod *********

they're feeding you a line of shite in Buriram, they know its 2 months before and 3 months after and has been for a few years now.

1

Bobby ********

Bobby ********

Doug Brooker. Sometimes immigration offices make their own rules, although it is rare. Bangkok, Phuket, Pattaya, Chiang Mai are all two months before, and three after.

1

David *********

David *********

As previously stated 2 months before and 3 months after. No getting around this as you have to show copies of your bank book. If you can afford to keep the money in your account this is definitely the easiest way. You have more hoops to jump through with the monthly income.

1

Bobby ********

Bobby ********

2 before, 3 after. Same as OA. Best option is the 65k/month transfer. Don't tie up 800k that you'll never see again

8

Gooddy *******

Gooddy *******

lol why does putting your own money in a legitimate thai bank means “you won’t see it again” ?

3

Bobby ********

Bobby ********

Chris Good. As long as you stay in Thailand on retirement visa, the money stays in the bank. Of course, if you leave, you get it back. Otherwise it goes to whoever you've named in your will. For this reason, I favour the 65k/month method, as it's money you can use. You're under no obligation to keep it in the bank. I go through about 45-50k/month anyway on my rent, living expenses, fun, holidays etc so another 15k is no issue. People using the 800k method still need money to live on, but cannot touch that 800k (except for 400k for seven months of the year, but that still has to be replenished).

6

JD ********

JD ********

it is not a literal, statement... it just means that Immigration keeps tying up much or most of the 800,000 Thai Baht again year after year... Most Expats who use the 800,000 cash in the bank method just give up trying to use any of the 800,000 baht in a given year due to the restrictions of NEVER falling below 400,000 at any time in a given Retirement year. Too much hassle... so in a way - they never see the money again (figuratively) or for all intents and purposes

3

Wyn **********

Wyn **********

Why would you not see it again ?

3

Bobby ********

Bobby ********

Wyn Williams. For as long as you stay in Thailand on a retirement visa, you will need the 800k in the bank every year when you apply for an extension. Yes, you can withdraw 400k three months after application, but you still have to replenish it two months before the next application. It stays in the bank until (1) you leave Thailand (2) you die. As long as you're in Thailand you cannot effectively touch it. That is why I favour the 65k/month method. You can spend it as soon as it hits your account

4

JD ********

JD ********

Because it just keeps being tied up again and again - year after year.

3

Bryn ********

Bryn ********

Doesn’t that 65k need to be banked monthly for a full year before it can be used as your “O” visa?

1

George *************

George *************

Yes, if you're from one of the countries that don't provide an embassy income letter (US, UK, Australia) then you have to make a year's worth of monthly deposits in excess of 65k/month before you can extend your extension on that basis. Once deposited the money may be completely withdrawn each month.

3

JD ********

JD ********

No - it can be used as needed over the month or year or years

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