I'm weighing the pros & cons of the non O and non OA visas. I've had the OA visa in the past, and (kind of) understand it. The financial requirement for the non O visa is what I have questions about. I have a Swift account, so can transfer funds. How does the 800k Thai savings account impact US tax reporting? It seems you have to report the foreign account, on your income tax or other? When I decide to close the Thailand savings account - how does that work? Can I just transfer the money back into my US bank account? Also, I'm intending to get a non O visa for my wife - she is a US resident with Green card, and a Vietnamese passport. We can change her O visa from retirement to dependent on my O visa once in Thailand, correct?
TLDR : Answer Summary
The discussion explores the differences between Non-O and Non-OA visas for expats in Thailand, particularly focusing on the financial requirements for the Non-O visa, including the necessity of maintaining 800,000 Baht in a Thai bank account. Key concerns addressed include the impacts on US tax reporting, such as the need for FBAR (Foreign Bank Account Reporting) if foreign accounts exceed $10,000, and the process for transferring funds back to a US bank account upon closing the Thai account. Additionally, comments detail the process for obtaining a trailing spouse visa for the user's wife and the related immigration procedures, emphasizing the importance of being on the proper visa status before applying for extensions.
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.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.