What are the requirements for maintaining a retirement visa in Thailand regarding the 800,000 baht rule?

@Rui ********************

you don't have a "retired visa". You have no visa at all. You have a stay permit based on being over 50 years old

@Ben ******

I've never used an agent but I have total ease and peace of mind, especially with the fact that I am 100% legal and if I'm ever asked to show my bankbook I can smile snugly knowing everything I do is above board. I don't want to be caught out and have to leave Thailand with a potential five year ban. However, as you say it's to each their own

@Michael *********

... yes...

Many agents charge different rates. If you are happy to use an agent, then great. If not, then also great. I like the ease and peace of mind.

@Ben ******

but how much pay for agent ? 4 years ago it was 35 ooo thb

Only for visa

And for rent my house I never used an agent before . They ( emigration ) check where I’m living and talk with my owner .

@Rui ********************

... Easy way is to use a good agent. They did it for me. Made it easy for me and still make my life easy. Same as when I rented a condo. I used an agent. Proper signed contracts and get your deposit back. I know Thais who have had arguments with other Thais over deposits.

@Ben ******

I know … but have people don’t know that .

This people ( same my friend ) look an easy way to apply visa …

Try to make tthat visa without an agent and you willl see

I go every years directly to emigration , pay 5400 thb for a a retired visa muti entry , and no more problem

@Keith ***********

doesnt mean you shouldnt have an insurance :p you should always have one. no matter the legal situation.

@Marc ***********

How old are you?

@Max ************

there is no insurance required I think. I don't have one yet. Although i will take one for small risks. Because i have a health insurance in Belgium for serious deseases

@Dany *******

I found health insurance for about $3200usd/year at highest deductable and am 74 with no preexisting. Am now non-o so insurance not required. I did have to shop because there are many ripoff companies

@John *********

sure, that’s what I said, age can make a big difference as well as IP, OP, deductibles, cost sharing, insurance sum, local policy, international policy, area of cover, us or not us, options and so on ( like you said ) 👍

@Beverly **************

Keep in mind, in case of emergency, an airline would not allow you to board a flight back home if you are visibly sick or injured

@Beverly **************

Where did you get $17,000 from? You can go for the minimum amount which is 400k baht in-patient and 40k baht out-patient. Then change the cover later.

@Per-Arne **********

really its impossible to compare insurance pricing across 2 individuals, just too many variables. Sum insured, deductible, outpatients cover or only inpatient, age and so on

@Beverly **************

No pre existing conditions?? $17k is day light robbery, highly extortionate. Can’t be your age. Where were you quoted that cost for insurance?

@Dany *******

they can be very expensive depending on your age when you sign up

@Dany *******

that includes the $3000 annual deductible. No pre-existing conditions.☹️ It’s a gamble, right?

@Beverly **************

USD? sounds like a massive number. probably pre-existing things that drive up the price? i dont see inruance companies asking for 1400USD monthly under normal circumstances. so i guess its very individual and then i can understand.

i heard the same argument from people. „if i have something then i will just fly home, i dont need insurance“. 3 months later they needed an urgent operation and no chance to go back home first. medical emergencies often are not possible to time.

@Dany *******

I’ll rephrase it. I choose not to spend $17,000 USD a year for insurance. I will hold on to that money for medical care. If I need care for something that’s going to cost a lot, I would fly home and use my government insurance. I should have explained better.

@Max ************

Contrary to your belief, it is still possible to get almost two years from the OA. It is necessary to have a new insurance policy for the second year. That hasn't changed, but you can believe whatever you want

@Max ************

still the same but on the 2nd year you need a re-entry permit if you travel abroad

@Peter ********

Nah, I don't know if I'm buying it. Earlier,yes.A lot of people did it.

@Max ************

You renew health insurance for the second year

@John *********

Yeah. A lot of "lucky" people using a "lucky" immigration office....or maybe, just maybe the biggest immigration office in the country knows how to do it correctly? Maybe it's the pisspot provincial offices where staff want to feel superior and implement their own rules.

@Roberto ********

I'm not remotely pissed off. My "lucky" reference is exactly that. Whether you are lucky by location or lucky by the immigration officer that served you. I know for a fact, and from my friends recent experience, that you can't do that at my immigration office which we both use. Even if Chaengwattana happens to allow it there are over 80 other immigration offices in Thailand. This is a futile argument, all I can do is quote what the main regulations say and they don't allow it. Of course experience on the ground in your specific location may differ, we all know that is how things fall in Thailand

@John *********

I have to put my hand up and accept responsibility for the meltdowns going on in this thread. About 2-3 years ago I put this method to the test. Two years on OA, returned to Australia for a few months, then came back on visa exempt, which I immediately converted to 90-day non-O, followed by 12-month extension, and did not require the 800k lump sum, as CW immigration accepted my 65k transfers (continuous) in lieu of the income affidavit. I posted this on "the other" visa group and had my post removed by one of the then mods, and was subsequently booted from that group for "spreading misinformation". However, subsequently another of the mods, Tod Daniels, investigated further and actually went to CW to confirm if what I was saying was correct. He was advised that it was correct, and Tod did post to that effect. Unfortunately because I had been removed from the group I cannot access this post. In the meantime I received a number of PMs from other group members eager to learn how I'd done this, and subsequently many have replicated what I did. Sadly, people (such as yourself) and others who believe they are "experts" have tried to downplay and negate what I (and others) have done, and are now embarrassed by their obvious lack of knowledge, and will say "well you were lucky". Yeah, all those that have done it are "lucky", or maybe, just maybe, we found the loophole, and you're all mightily pissed off. Live with it guys, there's some out there smarter than you

@Peter ********

do you remember this

@T**

?

@John *********

Tod Daniels sent it to me a few years back. I don't have it now, but if you send him a PM he'll probably oblige

@Peter ********

the immigration order you said was made around 2019 regarding embassies stopping income affidavits

@John *********

Sorry, I've no idea what you're talking about. Perhaps the best advice I can give you is to call by Chaengwatthana immigration office and make your enquiries there. If you're looking to switch to non-O on 65k transfers they will be able to assist

@Peter ********

it be interested in reading that if you can direct me at a copy. Nevertheless the information sheets handed out by immigration for applying for the initial 90 day Non-O visa and those for an extension of stay differ in terminology, the former makes no mention of "evidence of income" but the latter expressly does

@John *********

There was an immigration order around 2019 which substituted the 65k transfers for the income affidavit for those countries whose embassies no longer provided the affidavit.

@Peter ********

He was away for less than a fortnight and yes, never missed a transfer. If you look at the requirements for a Non-O visa they make no mention of monthly income, only the 800k method or the income affidavit method. He's American so no income affidavit was available from his embassy, he ended up having to borrow the money

@John *********

How long was his "short holiday"? Did he maintain the 65k transfers whilst he was away? I switched about two years ago.

@Peter ********

how long ago was this? I have a friend who has been here on a Non-O extension based on retirement for many years using the 65k baht monthly income method. He recently travelled to the states for a short holiday and forgot to get a re-entry permit so had to enter visa exempt. He was adamant he'd be able to get a fresh 90 day Non-O based on years of monthly transfers, he was turned away by immigration and told he needed to show 800k baht in his account. You must have hit it lucky and hit on a sympathetic immigration officer who was willing to overlook the rules.

@Nongnuch *******

Not lucky at all - I followed the advice of another group member who'd done the same. No issues at all. To be honest, I don't use all 85 immigration offices, I'm simply reporting what happened with me at CW

@Peter **********

then you were lucky to have met with an Immigration office that allowed these steps. Be aware not all Immigration offices of 85 offices in Thailand will allow the first one-year extension based on the 12 months of transfers of 65,000 THB

@John *********

That's incorrect. I went from two years on OA (during which time I started the 65k transfers), left the country, returned on visa exempt (all the while maintaining the transfers), then started on a 90-day non-O using the long history of continuous 65k transfers, which I then extended to 12 months, still using the 65k transfers. I never once had a lump sum deposit

@Max ************

We are in planning stage for 2027 when I turn 65. Keeping my fingers crossed they dont increase the age to before then. But yes I think I would be able to get something proof from them.

@Lauren ******

Shouldn't you still be able to get a document/certificate from your pension provider showing you're officially retired.

@Max ************

Thanks for the response Max.Very helpful.

@Lauren ******

"Officially" it has to be income from pension and immigration has the right to ask for the source and proof of being officially retired. But, I know people sending 65k/month from accounts back home and have never been questioned. I guess it's just about karma and the immigration office. 😎

@Max ************

Does the 65k per month have to be from a government pension? Our country won’t allow us a pension if we are not living there.

So we will need to use our own savings.

Can you use your own funds and direct credit to a Thai bank account every month?

@Nick ******

i get gross as thai resident so pay tax here

@Nick ******

yes had you invested this time last year easy, but dropped since

@Sylvia *******

Off shore, ok so no UK based bank offering 5% net. I have recently exhausted a search of best rates and only CHASE will give you 5% but that’s gross and only for one year.

Ok I’ll look into HSBC and your other suggestions. 👍

@Nick ******

i fixed my funds last year and currently getting 5.5% with HSBC OFFSHORE Friends opened account in Cambodia with May bank gets 10%. You can shop around, try Cherry Godfrey isle of Mann also

@Sylvia *******

Nice try but you need to read the fine print. These accounts only allow limited funds to go in each month. I have the co-op one and it’s £250 p/m. Now can you show me an a UK savings account that allows the equivalent of 800k bht and returns 5% net. Considering the Bank of England just cut rates to 4%, I’m very eager to see your answer.

@Nick ******

several if fix for one year

@Nick ******

In is dreams

@Sylvia *******

Show me a UK bank giving 5% net on savings please.

@Per-Arne **********

even UK @5% more than covers fees!

@Sylvia *******

yes exactly, you can get a yearly return of 10-15%

@Tai *********

At least it's legal

@Marc ***********

banks are way worse parasites lol

@โธมัส ***********

bank 0%. Is still cheaper then the money you pay to the parasites of agents.

@Kerry ********

exactly. Plus no need to go through all that rigmarole.

@Mike *******

I got it wrong 15,000.00 .

@John *******

I am very interested to know which Thai bank savings account earns 3% interest. I bet everybody here in this group would also like to know 😄

@John *******

Interest in a savings account might be 0.5% at best. In a Fixed Deposit Account at Bangkok Bank maybe 1.85% for a 7 months term which is slightly better than a 12 months term. Strange but true. Ask me how I know.

@Nongnuch *******

Now there's 82 immigration offices left. 😎

@Max ************

not only Nakhon Si, also Koh Samui Immigration does not allow a fixed account. Now don't fall out of your bed explaining that Koh Samui is in the sticks 😂

@Max ************

I get 1.2% interest for the 800,000 THB in my SCB savings account, which I use for my yearly application to the next extension. Not too bad an interest for the parking ticket which enables me to live in a country where my Euros have double a purchase power 😉

@Gary *********

You fell for it. 😀😃🙂🙃

@Gary *********

It's not the best but way better than 0.4-0.5% from a savings account. I get 1.85% for a 7 months term at Bangkok Bank which is better than a 12 months term. I got 2.10% a year ago. I earn a total of about 22k baht per year from interest. (I have three accounts at the moment.) Not a fortune but I'm not complaining. It's just money. 😎

@Max ************

hey up Max what is the interest rate in a FDA, if ya don't mind.

@Nongnuch *******

So you don't consider for example Nakhon Si Thammarat being out in the sticks way down south? I do. But of course you need to ask the immigration office where you're staying. That's a given. I did that when I opened my first FDA.

@Max ************

it's not only the offices in the sticks, many offices in the South like Nakhon Si Thammarat or Phang Nga don't allow fixed accounts. I have seen reports

@Nongnuch *******

Well, every retiree here doesn't stay out in the sticks in Isaan. I don't have to ask "my" immigration office about it because I already have my money in an FDA.

@Max ************

you better ask "your" Immigration if you can use a fixed account, because not every Immigration allows it