Answered7 months ago
What are the requirements and options for obtaining a retirement visa in Thailand with shared finances?
Hi all
In respect of the retirement Visa
My partner and I both have the 800,000 thb needed for the retirement visa.
If needed we could just leave it in permanently- that’s not a problem and if we have to do that we will.
My questions
1/ does the money gain interest like it does in uk?
2/ do we need a bank account each or can we have 1 bank account with 2 x 800,000 thb in ?
3/ i understand that the money has to be in 3 months before and for 1 month after the visa - are there any rules that don’t allow transferring the 800, 000 thb back to a UK High interest account ?
That money could earn approx £800 a year x2 - £1600 - better in our pocket I guess.
4/ am I right in thinking every 6 months you have to report ? If so, what does this entail and cost? and will that 800.000 thb need to be back in the account before reporting ? If so how long before and after ?
- I guess this may answer question 3 , as if it needs to be in the bank there would be little point in shifting it backwards and forwards.
5/ in addition to the 800,000 thb in the Thai bank , as a couple ( not each ) we would have around 94,000 thb per month coming in ( so nowhere near enough to get the retirement visa on monthly income alone , which I gather is 65,000 thb each .
Based on the figure of 94,000 thb - what could we reduce the 800,000 thb in the bank down to ? I believe it can be a mix or deposit and income
Thank you
In respect of the retirement Visa
My partner and I both have the 800,000 thb needed for the retirement visa.
If needed we could just leave it in permanently- that’s not a problem and if we have to do that we will.
My questions
1/ does the money gain interest like it does in uk?
2/ do we need a bank account each or can we have 1 bank account with 2 x 800,000 thb in ?
3/ i understand that the money has to be in 3 months before and for 1 month after the visa - are there any rules that don’t allow transferring the 800, 000 thb back to a UK High interest account ?
That money could earn approx £800 a year x2 - £1600 - better in our pocket I guess.
4/ am I right in thinking every 6 months you have to report ? If so, what does this entail and cost? and will that 800.000 thb need to be back in the account before reporting ? If so how long before and after ?
- I guess this may answer question 3 , as if it needs to be in the bank there would be little point in shifting it backwards and forwards.
5/ in addition to the 800,000 thb in the Thai bank , as a couple ( not each ) we would have around 94,000 thb per month coming in ( so nowhere near enough to get the retirement visa on monthly income alone , which I gather is 65,000 thb each .
Based on the figure of 94,000 thb - what could we reduce the 800,000 thb in the bank down to ? I believe it can be a mix or deposit and income
Thank you
Answer summary
A couple inquiring about the Thai retirement visa must each maintain 800,000 THB in their Thai banks for the required periods to qualify for the visa. Key points include: 1) Interest on deposits is minimal compared to the UK; 2) Each partner should ideally have separate bank accounts to satisfy immigration requirements; 3) The funds must remain for two months before and three months after the visa application; 4) A 90-day report is necessary for those with an extension, and this isn't tied to financial reporting; 5) The couple can consider combining monthly income to reduce the amount required in the bank, but there are necessary stipulations that must be confirmed with local immigration.
40 repliesnewest first
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Sunil *********
Chris I received the retirement visa in a single day without any 800k deposit. Of course there’s a cost for this. But you don’t need to lock away that money in an account which hardly fetches any interest. If you want to know more contact me on messenger.
Chris ********
OPSunil Setpaul I’ve messaged you , but surely this is risking immigration rules and rid of being deported and banned from re entering
Ken ************
Go an see an agent and it will be easy no stress
Ivan ************
You can get a small amount of interest, probably the best at the moment is the SCB EZ Savings 1.45%. You'd need to verify that will work with your specific immigration as it doesn't have a physical passbook. I believe they will provide letter/statement and some people have confirmed OK with their immigration. So 24,000/year on 2x800k. Minus 15% withholding tax. Not as good as you'd get in the UK but not nothing either.
As you have above the monthly for one, you could use that for one, after the first year, and keep 800k in the bank for the other. Some offices may still do the combination method but as you are two individuals you could just split it that way if you make sure to transfer at least 65k to one of you each month. You can only do this after the first year, you need to keep the money for the first year while also transferring in 65k/month, then you can switch to income and remove the money after your second extension.
You can let the money drop to 400,000 for about half the year. Technically, you could transfer this out back to the UK for 6-7 months, but you'd pay transfer and exchange fees each direction each time, and you'd only be able to invest half the money for half the year. Probably isn't worth it.
As you have above the monthly for one, you could use that for one, after the first year, and keep 800k in the bank for the other. Some offices may still do the combination method but as you are two individuals you could just split it that way if you make sure to transfer at least 65k to one of you each month. You can only do this after the first year, you need to keep the money for the first year while also transferring in 65k/month, then you can switch to income and remove the money after your second extension.
You can let the money drop to 400,000 for about half the year. Technically, you could transfer this out back to the UK for 6-7 months, but you'd pay transfer and exchange fees each direction each time, and you'd only be able to invest half the money for half the year. Probably isn't worth it.
Paul *********
Wow. You've done your research ☺️ the hardest part of all this opening your bank accounts. It is not straightforward or easy. Honestly.
I would suggest you go to an agent first time. They will open the account and organise your retirement visas within a couple of days
You have the
I would suggest you go to an agent first time. They will open the account and organise your retirement visas within a couple of days
You have the
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0 each so that will reduce to cost. It would be *****
baht each first time for the 2 accounts. After that you can do it yourself easily in immigration. It just takes away all the hassleBarath *******
Very informative, thank you all 🙏
@ **************
s, Greg Alexander, Jan K Nesland.Bill *********
Lots of good questions here that would be best posed to a Visa agent. Highly recommend you set up a consultation so you can get a whole course of action designed. They'll save you a lot of time and stress. I use a Visa agent for anything immigration related.
Samantha *********
@Bill ********
, why do people like stress, as you said. Agents are there to simplify everything as long you have money to pay them, with Thailand immigration agents are the best if you get the good one✅✅✅✅Chris ********
OP@Bill ********
thanks Bill , great advice . I said this to the Mrs earlier . We are coming to Thailand for 4 weeks in January .
We plan on doing exactly that .
We also plan on seeking an estate agent in Bangkok to show us different areas / different condos to look at our options
Bill *********
Chris Bailey Very smart ideas. It'll really help.
Barath *******
Chris Bailey agents charge about $1000 fee for 2 pax.
Petrov ********
If both spouses are foreigners in Thailand, there is no single “family visa.” Each person has their own visa, but there are two common options:
1. Both on retirement visas – if both are over 50, each spouse applies separately and must show 800,000 THB in their own Thai bank account.
2. One main applicant + dependent spouse – one spouse obtains the retirement visa, and the other applies as a dependent spouse. In this case, only the main applicant needs to show 800,000 THB, and the dependent spouse does not need to meet the financial requirement.
The dependent visa usually has the same validity as the main visa. However, the dependent spouse is not allowed to work, and their visa status depends on the main applicant’s visa.
1. Both on retirement visas – if both are over 50, each spouse applies separately and must show 800,000 THB in their own Thai bank account.
2. One main applicant + dependent spouse – one spouse obtains the retirement visa, and the other applies as a dependent spouse. In this case, only the main applicant needs to show 800,000 THB, and the dependent spouse does not need to meet the financial requirement.
The dependent visa usually has the same validity as the main visa. However, the dependent spouse is not allowed to work, and their visa status depends on the main applicant’s visa.
Marcel ******
Petrov Petrov Does a 'dependant spouse' need to be legally married or is a 30 year defacto relationship with jointly owned properties and bank accounts for that period accepted?
Petrov ********
Marcel Bond So even if you have been together for 10–20 years, without a marriage you cannot get a dependent visa.
What many couples do:
If they want a dependent visa but are not married:
- they get legally married in another country (for example Denmark or Georgia)
- then they use that marriage certificate in Thailand.
What many couples do:
If they want a dependent visa but are not married:
- they get legally married in another country (for example Denmark or Georgia)
- then they use that marriage certificate in Thailand.
Chris ********
OPPetrov Petrov that’s good news
I guess it doesn’t work unless you are married
And we aren’t lol
I guess it doesn’t work unless you are married
And we aren’t lol
Frank *********
What investment account do you have that delivers 10%?
Gary **********
sorry for jumping in if you are married is it
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0 each thanks
Jan ******************
Gary Molyneux Yes, unless you’re married to a Thai. Then it’s 400K baht if you’re a man and you’re exempt if you’re a woman.
Malcolm **********
I would say you are working on information that is about 8 years old and things have changed quite a bit in that time. Unless it's changed again here's what I know from doing my own retirement visa extension for the last 14 years with the last extension about 4 months ago. This is based on a single person, for the first application you need the 800,000 in the Thai bank for 2 months before applying. Your bank balance must not drop below the 800,000 for the 3 months after the extension is issued. You must maintain at least 400,000 at ALL times and it must be at least 800,000 for the 3 months prior to the next renewal. As far as gaining interest I did hear that you can not put it in a high interest account but I don't know for sure and mine is in a normal bank account. What the conditions are for a married couple I don't have a clue and would not like to give advice on something I don't know.
Gavin *****
Malcolm Whitlock had the experience just over a month ago whereby my appilication for an extension was held up as my local immigration told me 3 months prior to extension is required for the 800K to be in my account .
So best to consult your local immigration on whether its 2 or 3 months ,each might have their own rulings.
So best to consult your local immigration on whether its 2 or 3 months ,each might have their own rulings.
Malcolm **********
Gavin Yip Yes, that's how I understand it and as I said. I've lived here for 14 years and it's always been a requirement during that time to have the 800,000 in the bank for 3 months prior to an extension renewal, the only changes were that you now also need to keep the 800,000 in the bank for 3 months after and it must stay above 400,000 for the entire year. I also agree that the best place for advice is the local Immigration office not here on an expat posting site but if you aren't in Thailand then you might have to use the internet which is why we all reply to posts and try to help.
Allan *******
Malcolm Whitlock I have used 6 month term deposits, from three different banks, at three different Immigration offices. (For normal Thai term deposits, the money can be withdrawn at any time.) Immigration does not accept the type of term deposit where the money is locked in.
Greg ***********
regarding number 3 . . . . "i understand that the money has to be in 3 months before and for 1 month after the visa" . . . . . . . READ CAREFULLY!! . . . . . For the application to the 90-days Non-Imm-O VISA in your home country, you need to upload 3 months of bank statements into the e-visa online application . . . . . . . however for the application to the "12-months extension of temporary stay permit based on retirement" on Immigration, the 800,000 THB must have seasoned in your Thai bank account for two months BEFORE the date of application, and must remain in the account for THREE months after the extension has been issued. In the rest of the year, the deposit must never go below 400,000 THB. Then two months before the application to the next extension, the deposit needs to be back to a minimum of 800,000 THB
Chris ********
OPGreg Alexander thanks Greg .
So in effect . 3 months before we plan to move to Thailand we should both put 19k (800,000 thb) into our bank account
And submit the e visa showing this ( plus any income)
Then we travel to Thailand , open 2 separate bank accounts and transfer the money into the the Thai account .
2 months later we apply for the 12 months extension of temporary stay
If we are granted this ( is there any reason it may not be granted ?)
Then we keep the 800,000 thb in for another 3 months
Realistically we could ( probably not worth the hassle ) send 400.000 thb x 2 to one account for 6 months and transfer it back 2 months before we apply for another year ?
As long as 400,000 thb stays in the account for as long as you live on Thailand - all is good ?
Separate question
Can you open more than one account so income from uk can be paid into another account or is it just easier to have the one account
Thanks
So in effect . 3 months before we plan to move to Thailand we should both put 19k (800,000 thb) into our bank account
And submit the e visa showing this ( plus any income)
Then we travel to Thailand , open 2 separate bank accounts and transfer the money into the the Thai account .
2 months later we apply for the 12 months extension of temporary stay
If we are granted this ( is there any reason it may not be granted ?)
Then we keep the 800,000 thb in for another 3 months
Realistically we could ( probably not worth the hassle ) send 400.000 thb x 2 to one account for 6 months and transfer it back 2 months before we apply for another year ?
As long as 400,000 thb stays in the account for as long as you live on Thailand - all is good ?
Separate question
Can you open more than one account so income from uk can be paid into another account or is it just easier to have the one account
Thanks
Robin *******
Chris Bailey that is exactly what you need to do,
Greg ***********
Chris Bailey YES to everything! However I would not send 400,000 THB back and forth, you lose the exchange rate difference each time and if a transfer takes longer than planned, you run the risk of not complying with the seasoning requirements. You should rather ask your Immigration if they accept a fixed term Thai bank account, which would earn you at least a small interest
John **********
The interest is minimal and best to each have your own bank accounts.
To apply in the UK for a 90 day Non-O visa you can use money in UK banks. That visa gets you stamped in to Thailand for 90 days and you need to open your Thai bank accounts fairly quickly after arrival. The 800k baht must be in your bank accounts 2 full months before you can apply for a 12 month extension of stay (not a visa), it has to remain there for 3 months after you get the extension and can't drop below 400k baht at any point in the year.
You have to make a 90 day report every time you are in Thailand for 90 consecutive days once you get your extension of stay but they don't check finances, you're solely reporting your presence. There is no cost.
As you used the term "partner" I'm assuming you are not legally married so as far as Thai immigration is concerned you are simply 2 individuals. So need to each satisfy all the requirements.
To apply in the UK for a 90 day Non-O visa you can use money in UK banks. That visa gets you stamped in to Thailand for 90 days and you need to open your Thai bank accounts fairly quickly after arrival. The 800k baht must be in your bank accounts 2 full months before you can apply for a 12 month extension of stay (not a visa), it has to remain there for 3 months after you get the extension and can't drop below 400k baht at any point in the year.
You have to make a 90 day report every time you are in Thailand for 90 consecutive days once you get your extension of stay but they don't check finances, you're solely reporting your presence. There is no cost.
As you used the term "partner" I'm assuming you are not legally married so as far as Thai immigration is concerned you are simply 2 individuals. So need to each satisfy all the requirements.
Francis ************
@John *********
do these 800k have to come from an international bank transfer? I asked at the immigration but the answer was not clear.John **********
@Francis ***********
it only has to be international if you apply for the 90 day Non-O visa inside Thailand. For extensions it does notJan ******************
1. No.
2. You may have a joint bank account with 1.6 million baht, provided the immigration office accepts it.
3. The funds must be in the account two months prior to the application and remain for three months after the extension is issued. The balance must not fall below 400,000 baht during that period. In practice, this means that within a seven month window you are otherwise free to use the remaining 400,000 baht.
4. The reporting requirement is every 90 consecutive days in Thailand.
5. Some immigration offices allow a combination of monthly income and a lump sum, provided the total amounts to at least 800,000 baht within a year. This must be confirmed with the specific immigration office.
2. You may have a joint bank account with 1.6 million baht, provided the immigration office accepts it.
3. The funds must be in the account two months prior to the application and remain for three months after the extension is issued. The balance must not fall below 400,000 baht during that period. In practice, this means that within a seven month window you are otherwise free to use the remaining 400,000 baht.
4. The reporting requirement is every 90 consecutive days in Thailand.
5. Some immigration offices allow a combination of monthly income and a lump sum, provided the total amounts to at least 800,000 baht within a year. This must be confirmed with the specific immigration office.
Chris ********
OPThank you both ! 🙏
Stuart ***********
CoolBunny has answered most of this already, but just to add to his/her answer to question 5. If your immigration office allows the 65,000 method (mine does in Hua Hin), one of you could switch to the 65,000 method, so that between you there is only 400,000 baht in the account for about half the year.
David *******
For starters
For your 1 year extension you have to have had your 800k in a Thai bank for 60 days (2 months) prior to your extension and 3 months after your extension.
90 day reporting needs to be done every 90 days not every 6 months .
After your first extension one of you could switch to the 65k per month as long as it shows it's an international transfer.
For your 1 year extension you have to have had your 800k in a Thai bank for 60 days (2 months) prior to your extension and 3 months after your extension.
90 day reporting needs to be done every 90 days not every 6 months .
After your first extension one of you could switch to the 65k per month as long as it shows it's an international transfer.
Bob **********
David Brown why only one ??
Wannikea *********
Bob D'Andrea because they don't have enough money coming in for two they only have 97,000 baht a month coming in
John **********
@David ******
2 months, not 60 daysDavid *******
@John *********
so if the money arrives as an example on the 1st of February then you can apply for your extension on the 31st March??Incorrect that's less than 60 days
It's a minimum of 60 days which is 2 months which ever comes first.
So my statement is correct .
Why even run the risk at immigration thinking your being cleaver?
The best way is 60+ days in your account then there's no problem.
John **********
@David ******
no. If the money arrives on the 1st of February you can apply on the 1st of April. If it arrives on the 1st of July you can apply on the 1st of September, which is 62 days by my reckoning
CoolBun*******
1. No
2. 1 each
3. Normally 2 months before and 3 after.
Yes you have to have a minimum of
4. No every 90 days. No see 3 above.
5. Possibly. It depends on the local immigration office. Some don’t like that method.
2. 1 each
3. Normally 2 months before and 3 after.
Yes you have to have a minimum of
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0 thb in the other months.4. No every 90 days. No see 3 above.
5. Possibly. It depends on the local immigration office. Some don’t like that method.
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