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What are the requirements for showing financial support for a retirement visa extension in Thailand?
Thai VisaRetirement VisaFinancial RequirementsNon-O VisaBank Deposit RequirementsIncome MethodExtensions of StayInternational Money Transfers
Apr 25, 2024
2 years ago
Trevor **********
ORIGINAL POSTERDoes the money you send from overseas have to be regular payments or just be more than 800,000 baht for 12 months? Do you just get a letter of authorisation from the bank about deposits? TIA
TLDR : Answer Summary
To prove financial support for a retirement visa extension in Thailand, you can either maintain a minimum of 800,000 baht deposited in your bank account for at least three months before applying or show consistent monthly income transfers of at least 65,000 baht sent internationally over the course of 12 months. If you opt for the income method, you do not need to keep 800,000 baht in your account for renewal, but the funds cannot drop below 400,000 baht between your extensions. For first-time applicants, proof of either method is necessary, depending on the regulations from your embassy regarding income affidavits.
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.
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Nongnuch ********
Not so easily doable for those whose embassies don’t issue an “income affidavit” any more.
You need to pay 800.000 THB into your Thai bank account in order to pass the first 12 months in Thailand on a "1-year retirement Extension of Stay Permit" (which is not a "retirement visa")
If your country's embassy in Thailand is among those who stopped issuing income affidavits a long time ago, you are in a Catch22 situation. It is forcing applicants for the "1-year retirement extensions" to collect 12 months of consecutive, month for month, money transfers coming in from abroad, of a minimum of 65.000.- THB.
Only when your Thai bank certifies this with a "one year transfer statement", you will be able to use your income as the financial proof for an application to the next "retirement extension"
You need to pay 800.000 THB into your Thai bank account in order to pass the first 12 months in Thailand on a "1-year retirement Extension of Stay Permit" (which is not a "retirement visa")
If your country's embassy in Thailand is among those who stopped issuing income affidavits a long time ago, you are in a Catch22 situation. It is forcing applicants for the "1-year retirement extensions" to collect 12 months of consecutive, month for month, money transfers coming in from abroad, of a minimum of 65.000.- THB.
Only when your Thai bank certifies this with a "one year transfer statement", you will be able to use your income as the financial proof for an application to the next "retirement extension"
Michael *******
Do you need show the 800,000 baht.
Or can you show 12 monthes x 65k. Or show both on non 0 visa?
Or can you show 12 monthes x 65k. Or show both on non 0 visa?
Graham ******
@Michael ******
The first year must be 800k if your Embassy does not do the income affadavit. You can do the 65k throughout the first year and use that for subsequent extensions.Michael *******
@Graham *****
cheers graham !👍Reply to
Michael *******
Reply
Michael ********
@Michael ******
I think either/ orReply to
Michael ********
Reply
Dave ********
It also depends on the visa. The requirements for non-immigrant O based on marriage are less (400,000 balance or 45,000 monthly)
Nongnuch ********
@Dave *******
wrong. Income based on marriage must be 40.000.- THBDave ********
@Nongnuch *******
sorryReply to
Dave ********
Reply
Greg *********
If you get monthly deposits every month, your allowed to withdraw?
Trevor **********
ORIGINAL POSTERDoes it have to be 12 transfers of at least 65k, or can you send a large amount in one hit and then further transfers equalling over 800k within 12 months?
Graham ******
@Trevor *********
Must be a minimum of 65k for 12 consecutive monthsTrevor **********
ORIGINAL POSTER@Graham *****
so if I send 750k in one transfer, and more than 65k for each of 3 months but for several months whilst living in Oz, made no transfers, does that negate me organising my own renewal?Graham ******
@Trevor *********
That way you will only qualify for the 800k method if you reach that level 2 months before you apply for your extensionTrevor **********
ORIGINAL POSTER@Graham *****
have already sent more than 800k since renewal last October, will still be sending more b4 next renewal in October, so I should be ok then to do my own 1900 baht renewal?Graham ******
@Trevor *********
Yes, as long as your account was at least 800k for 3 months after you got your last extension and never dropped below 400kReply to
Graham ******
Reply
Graham ******
@Greg ********
Yes, can be withdrawn immediatelyJan ******************
@Greg ********
If you change to the income method the only requirement is money transferred over sea into your account every month. The 800K is then free to use.Matthew ******
@Jan *****************
does this mean you need to have the balance back up to *****
0 for renewal?Jan ******************
@Matthew *****
No, when/if you switch to the income method for your second extension of stay when you’re able to show proof of twelve conservative transfer, this is the only way you show proof of sufficient income to support yourself in Thailand and you don’t need any funds in your bank. However between the first and your second extension you’ll need to keep 800K thb in your account for three months after the extension is granted, it can’t drop below 400K and you’ll need to top up the 800K two months before you apply for your second extension of stay based on monthly income. This is just part of the deal when you used funds for your first extension of stay.
Matthew ******
@Jan *****************
so if I keep *****
0 in my account and use different funds to live, I can reapply with no issues? Or is it better to ship funds (*****
) every month and have *****
0?Jan ******************
@Matthew *****
Yes this is just an alternative way to prove sufficient funds to support yourself for a year. (The thai immigration has decided that foreigners needs 65K baht a month or (65K x 12 = 780K —>) 800K baht in a year). For the first year you don’t have time to prove income, and therefore need prove the whole year. For the second year it’s up to you if you want to use funds in your bank or twelve consecutive transfers in a year.Reply to
Jan ******************
Reply
Steve *******
Has to be a minimum of
*****
Thai Baht per monthMarty *********
If you are asking about using the monthly income method to meet the 1 year extension financial requirements then you need to deposit at least 65,000 baht to your bank account each month. You have to show that the money came from outside Thailand (an international transfer).
If you are using the 800,000 baht deposit method then the whole 800,000 must be on deposit in your Thai bank account.
If you are using the 800,000 baht deposit method then the whole 800,000 must be on deposit in your Thai bank account.
Bill ********
@Marty ********
well said Marty.Mandy *********
@Marty ********
do you know if spouse/dependents each need this amount in addition or just one family member needs to qualify?Marty *********
@Bea *********
Sorry. I don’t know the rules regarding spouses and family membersReply to
Marty *********
Reply
Leonard *********
@Marty ********
do you have to show the same for the 800k baht? That it came from outside Thailand?Marty *********
@Leonard ********
I believe that it might be the case for the 90 day non O visa but not for the subsequent 1 year extensions.Eddie ********
@Leonard ********
I just went through it and was advised that the 800k must be seen as coming from outside of ThailandLynn *******
@Eddie *******
Are they going to tax on that 800k Baht?Damo ***********
@Lynn ******
you thought about creating a new thread for your query?Ken ***********
@Lynn ******
the Thai government has yet to fully detail their tax scheme. In theory, any funds transfered from a pension plan or already taxed will not be taxed again in Thailand. But again all the details are not given yet by Thailand.Reply to
Ken ***********
Reply
Lynnette *******
Depends what method you're using as proof of finance.
Reply to
Lynnette *******
Reply
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