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What are the rules regarding withdrawing funds from a Thai bank account for a retirement visa after meeting the financial requirements?
Retirement VisaThai Bank Requirements800,000 Baht RuleVisa ExtensionsNon-O VisaFinancial Stability Requirements
Aug 19, 2023
3 years ago
Chris *******
ORIGINAL POSTERI was wondering about the retirement visa..after you have shown you have the necessary 800,000 baht in the bank..does it have to remain in the bank untouched or can you with withdraw some or all of it if needed..I'd be grateful for some advice as I'm interested in retiring in Thailand
TLDR : Answer Summary
To obtain a retirement visa in Thailand, you must show 800,000 baht in a Thai bank account for at least 2 months prior to applying for the extension. After your visa is granted, this amount must remain in the bank for a minimum of 3 more months. Additionally, during the rest of the year's period, the balance cannot drop below 400,000 baht. It is possible to withdraw funds, but you must ensure to meet these conditions to maintain your 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.
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Tod *********
okay, lets sort this out (and I deleted Jim Malkin comments because it appears he has me blocked and the information was NOT correct)
This means to do it INSIDE the country you need to use banked money method the first year THEN you could switch over for the second year to monthly income by transfer each month until your next extension was due
@Chris ******
you can't use monthly income for getting the initial 90 day non-O visa or the first year extension inside the country. That's because TO use monthly income you have to transfer IN from abroad to a thai bank account in your name only a minimum of 65K baht a month each month, every month for the previous 12 months before you can use that method. This means to do it INSIDE the country you need to use banked money method the first year THEN you could switch over for the second year to monthly income by transfer each month until your next extension was due
Wicky *****
@Tod ********
Dear Daniels, I would like to apply non-O retirement visa, regarding the 800k baht in a Thai bank account, can I deposit USD (equal to 800k baht) in a Thai bank account , thanks for your help !Hunter ********
@Tod ********
Question for you using the banked method. I keep 800k in my account at all times and only transfer money in once a year for living expenses.I took advantage of transfering a large amount when the exchange rate was close to 38 baht to 1 USD. My question is are we required to make a transfer of funds from abroad in a given time period? My annual extension based on retirement is coming due in October, but I can go about 2 more years before I even come close to the 800k threshold before I need to transfer money to live off of again...
Wolf ******
@Robert *********
you need only show the requirement of 800k 2 months before first extension for 1 year. For the second year, you need to show not less than 800k during 3 months after 1 year extension, not under 400k after and 800k 2 months before 2nd extension. (This is for a visa non O-A outside Thailand).The money you use to live, you could transfer at your wish.
Hunter ********
Wolf ******
@Robert *********
after you deposit the first 800k (coming from outside Thailand), same procedure. You start after 90 day the 2nd year for Non O-A (800k 2 months before and 3 months after extension and then not under 400k). I have a second deposit account with 800k and dont touch it. I use my saving accounts for virements and transfer of THB from my home country.Chris *******
ORIGINAL POSTER@Wolfi ****
thanks mate..I appreciate the informationReply to
Chris *******
Reply
Wayne ********
@Tod ********
or you apply in a consulate in home nation where you can use banked money there for the visa. Then you could open account and transfer the funds for your first extension or do monthly deposits.Tod *********
@Wayne *******
he could get the initial 90 day Non-O visa in his country using banked money from his country (y) but
once he gets here he'd still have to transfer the 800K for that first year extension when that 90 day stamp ran down. There's just no way to use monthly income method by transfer for that first year extension..
Wayne ********
@Tod ********
not according to the law, and it's not an initial 90 day, but a 1 year non o visa. I have one with about 16 17 extensions that was valid for 1 year from entry date. And once here I started using transfer method. Never had a problem, later used letter, until others destroyed that method, so made 2 transfers opened a new account with the 800k. So unless you don't obtain a 1 year visa in your home nation, you can use that method. I'm not talking about a border bounce visa, the full that includes medical and police background checks along with bank statements there in home nation. That takes a few months to do.Tod *********
@Wayne *******
believe you're confusing a 90 day Non-O visa with the year OA visa from a thai consulate in your country is the one that requires the 100K USD mandatory medical insurance, police background check, and showing proof of funds in your country.Reply to
Tod *********
Reply
Chris *******
ORIGINAL POSTER@Tod ********
thanks mate I've been to Thailand many times just on holiday..the usual monthly stay but I'm hoping to retire there soon so I'm new to it and just feeling my way around..all advice is appreciatedChris *********
@Chris ******
Chris - sort out getting a bank account opened as soon as you can - not as easy as you might imagine.Chris *******
ORIGINAL POSTER@Chris ********
cheers mateReply to
Chris *******
Reply
Tod *********
The banked money method for getting visa/extension based on being over 50 (retirement) has seasoning requirements like this
You need to have the 800K baht in a thai bank account in your name only for 2 months before you APPLY for the year extension.
It needs to stay in the account for 3 months AFTER the extension is granted.
Then the balance can't go below 400K baht the rest of the year (until you put it back to 800K baht two months before your next yearly extension)
You need to have the 800K baht in a thai bank account in your name only for 2 months before you APPLY for the year extension.
It needs to stay in the account for 3 months AFTER the extension is granted.
Then the balance can't go below 400K baht the rest of the year (until you put it back to 800K baht two months before your next yearly extension)
Tod *********
Most immigration offices only require you show the 800K baht IN a thai bank account in your name only to apply for the initial 90 day Non-O visa
BUT
Jomtien requires you have those funds in the account for 2 months before you apply for it)
Some offices require you show the funds were transferred into a thai bank account from abroad (Bangkok Immigrations does)
BUT
Jomtien requires you have those funds in the account for 2 months before you apply for it)
Some offices require you show the funds were transferred into a thai bank account from abroad (Bangkok Immigrations does)
Chris *******
ORIGINAL POSTER@Tod ********
thanks very muchReply to
Chris *******
Reply
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