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Answered8 years ago

What are the new requirements for proof of funds for retirement extensions in Thailand?

Mike ********
asked Jan 22, 2019
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I’ve read all the threads on the new requirements for proof of funds for retirement extensions. Two questions now if anyone has direct experience or knowledge:

1) If I retired less than 12 months ago (6) and have been depositing funds (> 65k/mo) in my Thai bank account for that period of time, is that sufficient to prove the 65k baht per month requirement? Or do I need to actually wait 6 more months to show an entire 12 month history? (Was on multiple entry tourist visa, now on a follow on single entry tourist visa).

2) What proof do I need to ask my Thai bank to provide for immigration?

Thank you for any actual knowledge on the new requirement for Americans no longer using an embassy letter.
Answer summary
The discussion revolves around the new proof of funds requirements for retirement visa extensions in Thailand, particularly for those who have only retired recently. Key points include clarification on whether deposits made within the first 12 months of retirement (while exceeding 65,000 THB) suffice as proof and what specific documentation is needed from Thai banks. Several users share experiences about varying requirements at different immigration offices, with some reporting successful use of bank statements demonstrating monthly deposits, while others encountered strict interpretations of rules demanding a full year's documentation. Clear guidance on required documentation like bank statements and income affidavits is also shared.
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Mike ********
Mike ********
OP
Not to beat this horse much further, but my immigration guy called with further useful data.

On my statements it shows that I transfer about the same amount to my thai bank each *week*. I do this because I prefer my money working for me in my US bank.

This threw them. They said they expect to see *one* transfer each *month* of 65k or more. Not multiple.

Otherwise they say it doesn’t look like retirement “pension.” It looks more like salary, or working.

So...they also admit that without the income affidavits, this is the first time they’re having to look at this level of detail. He recommended I wait another month and ask again.

(He also agreed that my statement technically met the requirements of that document, but they have additional internal guidance they’re using).
Sammy *******
Sammy *******
@Tod ********
Hello Todd, just an update, I just completed my extension yesterday, and wanted to confirm that I did have bank statements showing multiple deposits each month that totaled over the required 65,000 and there was no problem.

bkk bank would only hive me, according to my branch, the last six months of statements for 100 baht, and told me I would have to wait a week or two if I wanted the entire 12 previous months. I challenged it a bit, but decided it wasnt worth an argument, as I also needed them to provide me the letter, which they did (for 100 baht), and they updated my bank book as well.

i had also one of the last income affidavit from the consulate (which should have been sufficient for six months, but not in Chiang Mai).

Of course, completed app docs given, bank statements, bank letter, bank book, income affidavit, etc and all done and have my one more year.
Tod *********
Tod *********
@Sa***
at least at most immigration offices the affidavit of income from abroad is still accepted at face value without any support documentation (Chiang Mai is the exception, as they require proof the money on the affidavit is backed up with something).

Pick one and stick with it, either give the affidavit and hold your line on using it or go for the 12 months of overseas transfers using the monthly income method.
Sammy *******
Sammy *******
@Mike *******
i will let you know. I will go to my local bkk bank branch, pay the fee, get my statements, and highlight each international transfer on each month's statement, the total clearly each month well over the 65,000 baht requirement.

i think Tod is correct, that some IO do not know the rules and stick to the old way-- my own agent said it would be easy if I had just moved the 800,000 baht months ago to my Thai bank acct, but i did not want that much money just sitting here.

i also have an income affidavit from the US consulate here obtained on my agent's advice at the end of last Dec-- supposedly, they were to be good for the next six months, but my agent said i still need the 800,000 or the monthly 65,000 plus deposits-- not sure, then, why I bothered getting the income affidavit.
Mike ********
Mike ********
OP
@Sammy ******
yes, exactly the same. Good luck!
Sammy *******
Sammy *******
@Tod ********
i may have to argue if they refuse, because I had the same understanding as you.
Sammy *******
Sammy *******
@Mike *******
Mike and Tod, I will find out soon myself as I do just what Mike does-- i transfer once a week or so, for the same reason as Mike-- the total per month is well over the 65,000 amount--my pension check is deposited in my US bank and then I transfer as needed via ach bkk bank ANY (yes I know that ends in April, but i have a full 12 months of more than 65,000 deposits each month. I will likely use transferwise in the future, but since my retirement visa expires mid February, I am going in the next day or so, via my agent, to renew.
Mike ********
Mike ********
OP
@Tod ********
maybe I’ll have to temporarily move to Bangkok 🤔😊
Tod *********
Tod *********
ahhh, I asked about that very thing in Bangkok :O

The head of the section that does (retirement and marriage extensions) said as long as the transfers in each month added up to at least 65K baht they would be okay no matter how many came in that month.

So the real answer is technically it meets the requirements but they're too afraid to make a decision on their own. :/ That is a fail in my books. New policy or not, they've known since BEFORE it came into effect what it was gonna be..
Tod *********
Tod *********
@Mike *******
unfortunately your experience directly contradicts one posted on the T/V forum where someone DID successfully use 12 months of only bank transfers to get a yearly extension of stay.

I think this is a case of the Chiang Mai Immigration officers (always known for being squirrelly) being too afraid to actually follow the new rules. You know how much thaiz HATE to take responsibility for a decision (in case they get the blame). So rather than someone actually manning up and saying, yep that meets the requirements, it was easier to fall back on the "show banked money" (no risk to them) choice.

I still would fight it, but then again I LOVE to disagree with them when they are clearly wrong, still that's me, not you. Good Luck (y)
Mike ********
Mike ********
OP
Update: That is a Big Nope. At least in Chiang Mai at this time. Even with a certified Bangkok Bank statement going back 12 months showing average monthly deposits over 100k thb, they insist that they will only recognize the 3 month 800K baht balance approach for us embassy affadavit orphans (US, Aus, UK).

Oh well, it was worth putting to the test.
Tod *********
Tod *********
@Rob***
as long as the monthly deposits are in excess of 65K baht EVERY month for a year, there is no requirement to disclose where the money comes from, just a print out of the incoming transfers certified (stamped) by the bank where you hold your account in thailand .
Robert *******
Robert *******
The English version is or pension or interest or dividend. Income out of investment is not mentioned.
Tod *********
Tod *********
@Mi**
, unfortunately it's none of the immigration officers business if that money continues to come in AFTER you get the extension.

The requirement for a year extension using monthly income method is 12 previous months of at least 65K baht a month comin' into a thai account from overseas.

It doesn't matter if you stopped transferring in the money the day you got your extension, all that would do is mess up the NEXT yearly extension NOT this one.
Mike ********
Mike ********
OP
They actually handed me the English version you posted 😊. So they’re aware. It’s all around “how do we know this money will keep coming in” question. With 800k there’s no worries. With government pensions there’s no worries. With investment income (like most of us retire on in the US) - there are concerns.
Tod *********
Tod *********
@Mike *******
did you take in the thai versions of the amendment for them?
Mike ********
Mike ********
OP
I’ll maybe do that. Really prefer not to leave 800k just sitting in a low/no interest/can’t get it back out again account.
Mike ********
Mike ********
OP
They’re still trying to sort it out too, and of course don’t want to make any mistakes for the new boss. They were actually very friendly and asked around, but it’s all quite new I guess.
Tod *********
Tod *********
@Mike *******
Then I would file an appeal or a complaint. That is NOT how the rule is written.
Mike ********
Mike ********
OP
Tod Daniels yes. Each month had 100k-150k deposits.
Mike ********
Mike ********
OP
It was more than 65k each month. The problem appeared to be it isn’t from a guaranteed pension, but from investment properties. They said I could appeal and try to show more evidence the income is “guaranteed.”
Tod *********
Tod *********
@Mi**
did you have a minimum of 65K baht transferring in from overseas to a thai bank account in your name only for the previous 12 months prior to you applying for this extension?
Tod *********
Tod *********
@Robert ******
good point (y)

The immigration officer in Bangkok was really specific when she explained you couldn't do 130K baht transfer in one month and then skip a month thinking you already sent the 65K the previous month.

It's a minimum of 65K baht EVERY month for the 12 months prior to you applying for your extension of stay..
Robert *******
Robert *******
It is minimum 65.000 Thb a month, NOT an total count of deposits divided by 12 to get an average monthly deposit.
Tod *********
Tod *********
I would file an appeal (which you CAN DO) or a complaint or push it as high as you can.
Tod *********
Tod *********
@Mike *******
, there is a post further up that says this first year the immigration offices will make allowances because they know you couldn't do the deposits for a full year.
Tod *********
Tod *********
@Mike *******
I posted the thai version in the original post.
Tod *********
Tod *********
@Mike *******
I messaged the O/P and asked for the thai version AND googled around for it in thai too BUT so far I haven't heard back or found it.
Mike ********
Mike ********
OP
Thanks
@T**
, I missed that. Looking for a Thai version I can show the IO in case it’s needed.
Robert *******
Robert *******
As i read it: 1) Evidence of pension, 2) It is 12 months minimum 65K in Thai bank on your name, except in the case where the applicant's retirement is less than 1 year, than the evidence must be from the month of retirement. The bank must acknowledge that it is your bank account and that the minimum 65k monthly are coming in from abroad. This is the text in English:
Robert *******
Robert *******
Thanks, let us know. It is indeed a new procedure, so every hopefully a success story is a good one.
Mike ********
Mike ********
OP
Thanks Robert. So *theoretically* I should be ok. Headed to CM immigration later this week, I’ll update with results. I know this is new ground.

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