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What are the rules for spending money with a Thai O visa and how are they enforced?

Thai O VisaVisa RulesExpat FinancesBank Account RegulationsEnforcement of Visa ConditionsRetirement VisaFinancial Requirements
Aug 21, 2022
2 years ago
Robert ******
ORIGINAL POSTER
The rules for an O visa say the money you are required to put in a bank account must be spent in Thailand. Does this mean that they will block transfers or something? How do they enforce their rule? My reading of the rule is as follows: "You may be planning to live cheaply here in Siam, buddy, but we're going to do all we can to force you to leave your money here. So don't get your hopes up!"

Correct me if I'm wrong!

And how do they enforce their rule? Simply by refusing to extend your visa if you break the rule?
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TLDR : Answer Summary
The discussion revolves around the financial requirements associated with the O visa, particularly the concerns about money that must be maintained in a Thai bank account. There appears to be confusion regarding whether applicants are required to spend the deposited money in Thailand or simply maintain a certain balance. The participants clarify that while there are various types of O visas, the stipulations differ significantly, with the retirement visa having stricter financial requirements. The conversation indicates that enforcement of financial rules primarily occurs through visa renewal processes, rather than blocking bank transfers.
NON-O RETIREMENT VISA RESOURCES / SERVICES
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  • 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.
Ludwig ***********
When you ask your bank to transfer money overseas (out of Thailand) they will ask you for a reason. If you give a credible answer they will proceed with the transfer without conditions.
2 years ago
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Mike *****
YMMV. Banks are supposed to require a document proving that the funds originally came from outside Thailand. I had all this and still spent 2 months and needing assistance from a rep at the New York office to get my funds transferred.
2 years ago
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Mike *****
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Dana *******
It happened to me to take Euros in an ATM (ATMs with the logo UnionPay) in Europe out of my Thai Bangkok Bank account with my ATM Thai debit card. No problem. Excellent exchange rates on top of it.
2 years ago
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Av **********
That and sometimes your money just is gone one day..happens to both thais and foriegners....have fun trusting the banking system!
2 years ago
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Dana *******
@Av *********
 Fake news. You are probably a hater of Thailand....
2 years ago
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Dana *******
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Mike *****
For retirement O - if you use an agent, they can satisfy this requirement as part of their service (for an additional fee of course but rather than locking up that much money, it may be worth it).
2 years ago
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Mike *****
It all depends on your finances or if you want to save baht (and spend a LOT of time) and jump thru all the hoops. Agents assist with everything in Thailand - they have the connections to simplify/expedite everything. I'm told they do it legally/in an allowed manner otherwise they wouldn't be in business.

Simple example? Immigration offices - some foreigners stand in line for an hour or 2 to get in the door and then they're lucky if they do something simple in one day. Others pay an agency and are walked in front of everyone else.
2 years ago
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Brandon ************
@Mike ****
 if an agent does something you can't, then it's not in a legal manner. It's through bribes.
2 years ago
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Brandon ************
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Bobby ********
Nik Dadd You're on retirement visa?
2 years ago
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Bobby ********
Nik Dadd I had to get a year's worth of bank statements from my bank which cost me 200 baht, plus the updated bank book. These had to show the 65k international transfer, one for each calendar month for the previous year.
2 years ago
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Bobby ********
Nik Dadd Mine's retirement visa. 65k/month. Yes at CW. No problems.
2 years ago
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Bobby ********
Nik Dadd Some embassies don't give affidavit so you need to show 12 X 65,000 baht international transfers.
2 years ago
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Bobby ********
@Mike ****
 Or stay legal and simply transfer 65k each month from overseas. No money tied up, and let's face it, you need money to live on!
2 years ago
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Bobby ********
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Phil ********
They'll certainly never refer to you as "buddy"

šŸ™ƒ
2 years ago
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Bobby ********
Can you provide the link to the rule that says the money must be spent in Thailand? I've been on retirement visa for years and have never been told or questioned on this.
2 years ago
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Stuart **********
@Bobby *******
 it doesn't have to be spent in Thailand šŸ‘
2 years ago
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Brandon ************
@Bobby *******
 He's referring to the OX visa. And after googling, it does appear this wording is on the website of many consulates. But you're the only person I've ever heard talk about the OX really. It's DOA from basically every country but Australia.
2 years ago
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Bobby ********
@Brandon ***********
 I know of only two people who have got OX visas, both Australian, as Australia (as you know) is the only country which allows you to keep your money in an Australian bank account. This is a very strange post.
2 years ago
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Nick **********
@Bobby *******
 I recall Portugal allowing something similar.
2 years ago
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Nick **********
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Robert ******
ORIGINAL POSTER
Joe, they force you to spend $100,000+ in Thailand:

"Financial qualifications

(a) Applicants must have money deposited in Thai bank located in Thailand with the amount of not less than 3 million Baht; or

(b) Applicants must have money deposited in Thai bank located in Thailand with the amount of not less than 1.8 million Baht and have income with the amount of not less than 1.2 million Baht per year. Once the applicants enter Thailand, they must have accumulated money deposited in Thai bank located in Thailand not less than 3 million Baht within 1 year.

The money in (a) and (b) must be kept in bank account at least 1 year before withdrawing and, within another next year, the money must be left in the account with the amount of not less than 1.5 million Baht and CAN ONLY BE SPENT IN THAILAND."

Insurance also required.
2 years ago
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Bobby ********
@Robert *****
 This is the condition for the OX visa, which very few people apply for. This doesn't apply to the standard O and OA visas
2 years ago
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Colin ********
@Robert *****
 no they don't FORCE you, it's your choice and there are alternatives, see above
2 years ago
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Brandon ************
@Robert *****
 You're talking about a visa that's basically not used from any country other than Australia (and even then, only one of the consulates in Australia). In Australia they let you show money in your home bank account for the OX. I honestly haven't heard of anyone from any other country getting an OX visa. And there's no way for them to enforce such a provision.
2 years ago
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Brandon ************
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Colin ********
You need to keep a balance of at LEAST 400k all year round and 3 months before renewing you need to make it back up to 800k, in between you can spend it how you like. Better still get a year multiple entry and then there is no monetary requirements and just do a border hop every 3 months.
2 years ago
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Chris ********
Nik Dadd ah, sorry. Misread your post!
2 years ago
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Colin ********
Nik Dadd for the one year multiple entry you don't need only for the one year O-A
2 years ago
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Chris ********
Nik Dadd I have Non O retirement visa. Opened first bank account with BAAC bank. Only been here for 8 months so not renewed yet but for original visa I had 800k+ in bank for 3 months, went to bank took 5k out, got book updated and, for a few baht, got statement for Immigration. No issues
2 years ago
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Bobby ********
Nik Dadd It might be different for married to a Thai visa. There was an order from Immigration or Royal Thai Police relating to the special circumstances for US, UK and Australia. Suggest you seek out Tod Daniels in this group who *might* have a copy of this. His knowledge of visas is pretty well unsurpassed.
2 years ago
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Bobby ********
Nik Dadd Immigration allow it for citizens of Australia, UK and USA, as these embassies no longer provide affidavits of income, so transfers actually have to be made into a Thai bank account at monthly intervals and must be shown in the bank book as an international transfer
2 years ago
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Bobby ********
Nik Dadd Looks like you've got the married to a Thai visa. Can't help with that one. I'm on retirement visa
2 years ago
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Bobby ********
Nik Dadd 65k per month transfer nothing to do with embassy. It's a bank transfer
2 years ago
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Bobby ********
@Colin *******
 Or simply transfer 65k each month, and avoid scurrying to a border every 90 days for the rest of your life!
2 years ago
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Stuart **********
@Colin *******
 that's only for retirement, the rest you don't need to keep a balance šŸ‘
2 years ago
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Colin ********
@Stuart *********
 exactly but why get a retirement visa when a multiple entry is as good. I did that way for ten years
2 years ago
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Colin ********
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Stuart **********
There are various non O's. The only one that requires you to keep money in the account is the retirement one šŸ‘
2 years ago
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Robert ******
ORIGINAL POSTER
@Stuart *********
 Stuart for Retirement how do they ensure that you spend the money in Thailand?
2 years ago
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Bobby ********
@Robert *****
 There's no stipulation that the money has to be spent in Thailand
2 years ago
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Stuart **********
@Robert *****
 you can spend the money wherever you want but you can't let your balance go under 400k šŸ‘
2 years ago
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Stuart **********
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Brandon ************
@Stuart *********
 and marriage, and Thai child, and foreign child in Thai school...
2 years ago
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Stuart **********
@Brandon ***********
 nope marriage requires it to be in there for 60 days prior to application and Thai child on day of application only. The rest of the time it's up to you what you do with it šŸ‘
2 years ago
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Marc *******
@Stuart *********
 That's the extension. For Non O marriage visa there is not such a rule.
2 years ago
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Stuart **********
@Marc ******
 yeah it is appologies I thought they were talking about the 1 year extension šŸ‘
2 years ago
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Brandon ************
@Stuart *********
 Not quite. Parent of half Thai child requires the money to be in the account 2 months before the application for extension. And then if there's an under consideration which could be ~30 days, it's usually recommended to leave the money in the bank until you get the full amount of days. So around 3 months, though it's still better than locking it away for the whole year.
2 years ago
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Stuart **********
@Brandon ***********
 completely untrue
2 years ago
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Stuart **********
2 years ago
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Stuart **********
Please see 18.5 Thai child and 18.6 marriage from the Thai immigration website here. I have the Thai child visa and confirm money only needs to be in on day of application šŸ‘
2 years ago
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Stuart **********
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Brandon ************
Huh? There's no rule about spending money, and I'm not sure where you read as much.

You are required to leave a certain amount of money for a certain amount of time. You are actively prohibited from spending it at all.
2 years ago
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Brandon ************
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