What are the requirements for retiring in Thailand regarding income proof and banking?

May 17, 2024
6 months ago
Jeff *********
ORIGINAL POSTER
I currently receive income from two sources. Both sources are just short of 100,000 bahts. So when my wife and I move to Thailand in the future to retire, I will have to show 100,000 badts per month in a Thai bank account. Does that have to show it directly deposited to that account, for just show I deposit 100,000 into that account each month. Sorry I’m a little confused. I would prefer to have one source deposit into an American account and transfer it to a Thai account rather than all my income.

Last question, if I have a large lump sum in a Thai bank account, can I ignore the 100,000 badts per month?
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TLDR : Answer Summary
To retire in Thailand, you need to show proof of income or funds in a Thai bank account. You can choose between having 800,000 baht in a bank account or proving a monthly income of 65,000 baht via international transfers for your initial visa application. If you're married to a Thai citizen, you may also qualify for a NON-O visa with a lower bank requirement. It's crucial to set up a Thai bank account in person, as accounts cannot be opened remotely without a visa.
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.
Peter ****************
If it's for you alone (Thai wife), concerning "...rather than all my income" I would say transfering a bit more than
*****
k฿ per month (40k฿ if legally maried in Thailand) as "international transfer" and not everything, is smart anyway because maybe the Thai government will enforce their tax law. So the top of y'r pension, will not be in the higher tax trance. Nobody knows exactly yet.

Yes, if you have
*******
k฿ (Again 400k฿ if legally maried in Thailand) in y'r Thai bank account (in y'r name only), thats sufficient. No monthly transfers needed.
Peter ****************
@Brandon ***********
Oops, that I don't know. Yeah, sometimes difficult to have a general remark if some imm. offices have a bit different rules. Thx !
Brandon ************
@Peter ***************
haven't heard of any offices doing this for retirement. And I'm not sure why they would do it for marriage extensions. But little of what they do makes sense
Brandon ************
@Peter ***************
there's reports that some offices will no longer accept proof of international transfers for marriage extensions. They will only accept proof of income from a job in Thailand.
John **********
I see from a previous post your wife is thai so you have 2 main options

A non-o visa based on marriage which requires 400k baht in a Thai bank

A non-o based on retirement which requires 800k baht in a Thai bank

The retirement option involves less bureaucracy

There are various other retirement options you can look at but that's the easiest
Jeff *********
ORIGINAL POSTER
@John *********
Thank you. She has a Thai bank account, but just for my knowledge, does Thailand allow me to setup a Thai bank account in just my name if I am living in the US and not applying for a visa for 3-4 years?
Jeff *********
ORIGINAL POSTER
Next February! Thank you. Staying for 30 days. Appreciate all the advice
Jan ******************
@Jeff ********
Just as you know, it’s quite difficult to open an account just on visa exemption or tourist visa now unless you get an agent to assist you.
John **********
@Jeff ********
no. You have to go in person to open a bank account, so if you are here on holiday at some point you could do so then
Peter *********
You both need get a thai bank account set up 1st and both deposit
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0 baht into account before applying for visa
Phil *******
@Peter ********
if wumife is Thai she does not need a visa.
Peter *********
@Phil ******
wife maybe a falang ?
Phil *******
@Peter ********
he says Thai in his post.
Peter *********
@Phil ******
read again just says wife no mention thai wife
Phil *******
@Peter ********
it was in his previous post to the group.
Peter *********
Jan ******************
@Jeff ********
It just has be min 65K baht transferred over sea for twelve consecutive months into you bank account and you can do this transactions yourself from your bank in US.

If you apply for a 90 days Non at home before you leave you can use your bank at home to verify your income. As you’re from the US and your embassy doesn’t offer to provide you a affidavit letter, you’ll need to bank 800K baht in your bank in Thailand within a month to apply for your first year extension of stay. After showing proof of twelve consecutive transactions over sea you can switch to the income method from your second year extension of stay and you don’t need any funds saved in your bank anymore.
Brandon ************
It's 800,000 baht in a Thai bank account OR proof of 65,000 baht income per month.

But if you are from a country whose embassy does not provide income verification (many no longer offer this) then your ONLY option is the 800,000 baht in the bank method.
Julius *********
@Brandon ***********
Very important FACT No One tells you! Thanks for that post.
Nigel **************
@Brandon ***********
do you know if the Irish Embassy provides the income verification letter required. It's not clear from the embassy website. Thanks
Brandon ************
Nigel **************
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