Answered5 years ago
What are the requirements for showing proof of funds when applying for a Non-O retirement visa extension in Thailand?
I planned to enter Thailand by 60 days TR visa. Upon arrival, then change to non o 90 days visa based on retirement. One of the requirement is 800k baht bank in thai bank 2 month before retirement extension.
I read some information from other, when apply the retirement extension from non -0 90 days, it need to provide the source of fund from aboard , such as FET issued from bank.
From my knowledge, the FET issued from bank is possible only when the fund remitted from aboard to Thailand in “foreign currency”. But I plan to remit the fund in thai baht of 800k directly to Thai bank (not in foreign currency then convert to Thai baht by local Thai bank)
Is it a requirement the immigration need such proof of fund remitted in “foreign currency” by FET? Or they also accept the fund remitted in thai baht from aboard ? ( I am planning to apply the above at pattaya immigration. Anyone have such experience related to application made in pattaya immigration)
Thanks for advise !
I read some information from other, when apply the retirement extension from non -0 90 days, it need to provide the source of fund from aboard , such as FET issued from bank.
From my knowledge, the FET issued from bank is possible only when the fund remitted from aboard to Thailand in “foreign currency”. But I plan to remit the fund in thai baht of 800k directly to Thai bank (not in foreign currency then convert to Thai baht by local Thai bank)
Is it a requirement the immigration need such proof of fund remitted in “foreign currency” by FET? Or they also accept the fund remitted in thai baht from aboard ? ( I am planning to apply the above at pattaya immigration. Anyone have such experience related to application made in pattaya immigration)
Thanks for advise !
Answer summary
The user plans to enter Thailand on a 60-day tourist visa and switch to a 90-day Non-O visa based on retirement. They need to prove funds of 800,000 baht deposited in a Thai bank for 2 months before applying for an extension. A concern is whether funds transferred in Thai baht from abroad need to be shown as coming from foreign currency through an FET (Foreign Exchange Transaction) certificate. Responses indicate that as long as the funds are verified as transferred from overseas, and at least 800K baht is maintained in the Thai bank for the required time, the source is acceptable regardless of currency conversion method.
28 repliesnewest first
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Bob **********
Your currency or Thai baht as long as it Adds up to 800k
Tony *******
Yes .in a word. Take a copy of your bank statement from where the money came from .show it to you Thai bank and get they to verify it and give you a letter to say the money came from overseas.but if you have problems .try .Siam legal .com they are the best visa experts in thailand and very approachable.plus it all depends on the immigration office they all view the rules differently.
Peter ****
OP@Tony ******
good advise… will follow it after fund transferedKool *******
Be fully aware of the exchange rate if you convert the deposit before you transfer it into your Thai bank account, as usually you get a better exchange rate if you let the Thai bank do the conversion. Just be aware of that so you get the best exchange rate.
Ekkehard *******
Peter Ng Sending money from abroad to Bangkok Bank for example shows as "FTT" (Foreign Telex Transfer) in the bank book record. This is evidence that the money came from abroad. However, I am not sure how other Thai banks handle that.
Peter ****
OP@Ekkehard ******
great… I will sending the Thai baht to my Thai bank account at bangkok bankZap **********
Oh I don't think that is a problem for immigration to transfer Thai baht from overseas into your Thai bank account
Peter ****
OP@Michelle ***********
great, thanks 🙏🏻Peter ****
OP@Kool ******
the exchange rate is not a issue.. because I already convert to Thai baht at the best exchange rate in my home country bank year ago. That is the reason why I will remit thai baht to my Thai bank. But I just realized that they may need source of fund in foreign currency, and it make me worry about it.Kool *******
@Peter ***
as long as your home bank will transfer a foreign currency you won't have any problem, as it just has to show it came from overseas. A problem you might run into is if you are transferring exactly bt800,000 the fees charged for the transfer might put you below the bt800,000, as there will be transfer fees.Peter ****
OP@Kool ******
it won’t be a problem, I will transfer more than the requirement and make it 800k or above after deducting bank charges etc.. thanks for remind🙏🏻
Stuart *********
Converting is a two step process. Firstly you apply for an in country non O visa. For being over 50 or “retirement “ you need to have 800k in a Thai bank account in your name only that is seen as coming from overseas. There is no seasoning requirement for those funds. You can apply the day they arrive in your bank. From this you’d get a 90 day visa.
When you have 30 days or less on that you apply for a year extension of stay. To do so the 800k must have been in your bank for 2 months prior and stay in there 3 months after. For the remainder of the year the balance cannot go below 400k, and would be needed to be topped back up to 800k two months prior to your next application.
When you have 30 days or less on that you apply for a year extension of stay. To do so the 800k must have been in your bank for 2 months prior and stay in there 3 months after. For the remainder of the year the balance cannot go below 400k, and would be needed to be topped back up to 800k two months prior to your next application.
Zap **********
My understanding is just must come from overseas but as they state 800,000 Thai baht would set up the local account in baht...then use a company such as Wise which will convert your local currency to Thai baht before transferring. I believe if you transferred your home country currency it would just be converted to Thai baht by your bank in Thailand.
Stuart *********
@Michelle ***********
do not use wise unless you have an account at Bangkok bank and select the option on transfer for “long term stay in thailand”. Other banks will show it as a local transfer. Although more expensive it’s much better just to use bank to bank transfer which will show correctly.Peter ****
OP@Stuart ********
yes sure… I will remit through bank to bank.Bim *******
@Peter ***
no from overseas in a foreign currency. It can show in the Thai bank as BAHT but the deposit must be seen to have come in from overseas.Peter ****
OP@Bim ******
in other word, it won’t be an issue to remit the fund in thai baht to my Thai bank, right ?Peter ****
OP@Bim ******
great… thanks 🙏🏻Bim *******
@Peter ***
it shouldn't no. As you as you can show it came from overseas..Peter ****
OP@Stuart ********
yes, I know it. I just want to know that , the 800k baht must be remitted to my local Thai bank in foreign currency or I can remit directly in thai baht ?
John **********
@Peter ***
you can remit in whatever currency you wish as long as it shows as coming from overseas. I'd steer clear of services like Wise and use a bank to bank transfer via swiftPeter ****
OP@John *********
it clear up what my worry. Yes , sure will use the formal bank to bank transfer via swift.Bim *******
@Peter ***
my understanding is they only ask for the money in foreign currency if you convert. If you apply for the Non O in your home country they don'tBim *******
@Peter ***
that I cannot answer. The only requirement I know is that the deposit is shown to have come from overseas if you're applying inside the country for a Non O from a tourist visa. That's I am flying back to the UK tomorrow. I have lived here 9 years and moved out money many years ago to Thailand. So I cannot show a foreign deposit as the money is already here in ThailandPeter ****
OP@Bim ******
if they ask for the source of fund, is it a requirement that the fund must be transferred in “foreign currency” or it is also acceptable to transfer the fund in thai baht ?Peter ****
OP@Bim ******
do you mean, they will ask the source of money if it is remitted to Thai bank in foreign currency ?Bim *******
@Peter ***
then yes they will ask for it transferred from overseas but again they may depend on the office you use, your previous visa and how long you have been in Thailand.Peter ****
OP@Bim ******
I will apply the non O in Thailand .Activity
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