Answered6 years ago

What are the requirements for switching to the 800K Baht retirement extension method in Thailand?

Retirement Extension Visa Rules 800K Method Income Proof Thai Immigration Bank Requirements

Mike *******

asked Nov 17, 2020

1.9k

views

replies

likes

Last year, I used the 65k/monthly Income Method for my Retirement  Extension. A lot of papers. The IO suggested I use the 800k Method as it  was simpler, and only the bank balance proof and time limits was  necessary.  This was Nov 2019. I opened an account with KBank, and  started depositing money monthly in order to have the 800K 3 months  before my due date. I met the time limit with a month to spare.

Today I went to Samut Prakran Immigration with what I thought was all  the correct documents. The desk clerk accepted my paperwork, but the  approving officer said that I still needed proof of income source as  before. I 'think' he explained that this was because I'm switching to  the 800K Method for the first time ? I I believe I'm being told that to  qualify I should have deposited 800K right after my last renewal was  approved (Nov 2019) and ensure it was still 800k 3 months previous to my  renewal now.

Apparently, next renewal won't need this proof.

I'm getting this through an interpreter so it's possible I'm not understanding 100%.

Can anyone clarify the procedure ? I was sure I understood what I needed to do, but now I'm confused.

Thanks

Answer summary

The user was confused about the requirements for the 800K Baht retirement extension after initially using the 65K monthly income method. They were informed by an immigration officer that since it was their first time switching to the 800K method, they needed to provide proof of income source, which seems to be due to having deposit activity before reaching the 800K balance. Comments provide clarification on the requirements, stating that the 800K must be in the account for at least 60 days before applying for renewal and that it should maintain a balance of at least 400K after the extension is granted.

10 repliesnewest first

Click comment and we will ask for your email, then OTP, then name.

David ********

You need it in your bank for 60 days before your apply for renewal

6 years ago

David ********

thats what i meant :)

6 years ago

Benjamin ******

@David *******

No, it needs to be seasoned for 2 months.

6 years ago

Tod *********

The only reason I can think of that they're asking for proof of monthly income would be that you used that method SINCE you got this last extension and until you had the 800K baht banked, and any way you slice it you have to meet the terms of your yearly extension somehow.

you were moving money in every month then when you hit 800K you stopped.

I think they wanna see the money comin' in from abroad during the months BEFORE you hit the 800K baht

6 years ago

Mike *******

@Tod ********

If I may, I have a follow up question. What is the penalty for missing a month when using the 65k Income Method ? From what I've read so far, it seems to be up to the IO whether they give you some 'wiggle room' or not. In the case that they do not, what is the consequence and how can it be resolved ?

6 years ago

Bo ******

Yes, I did that. Monthly from last extension to build to 800,000THB two months before extension. As insurance, i kept the monthly up until extension to make sure of no problem with income method transition.

6 years ago

Mike *******

@Tod ********

ok thanks for both answers. Your second response makes sense, and I think that’s what has been explained to me already. I had not heard of this before so was caught out when I went to immigration this morning. I can fulfill what they are asking as it’s what I did last year. I just wasn’t prepared for it today. Thanks for your response and I’ll update you on the outcome. Thanks again.

6 years ago

Tod *********

again, the above is just me "thinking out loud" and that might or might not be the actual reason..

6 years ago

Mike *******

@Tod ********

I understand. The ‘big boss’ immigration guy spoke to my GF at length explaining the issue. What she translated to me jives pretty much with what you think. We’ll run with that for now. Thanks so much again.

6 years ago

Tod *********

Okay first we need to hash out that there is no "3 months before" rule anymore at all, that stopped a few fair years ago. You need the 800K baht in your account 2 months before you apply (no matter what they're telling you) and it needs to stay IN your account for 3 months after you get your extension then the balance can't go below 400K baht the rest of the year until you top it back up to 800K two months before you apply for your next extension.

6 years ago