Answered8 years ago
What do I need to do to open a bank account in Thailand for my retirement?
Help with timing, please. I am retiring to Thailand in summer 2020. I'd like to open a bank account there and start funding the 800,000 baht account. Can I open the account online? Do I need a visa first? Do I need a Thai residency address first?
Answer summary
To open a bank account in Thailand for retirement, you generally need to have a retirement visa, which can be obtained through the Thai embassy before leaving your home country. While some banks may allow account opening procedures online, this varies significantly by branch, and many expats advise that visiting a bank in person is necessary. Additionally, a Thai address may be required, and it's important to ensure funds comply with local regulations regarding transfer sources.
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Terary **********
My two cents... Thai banks are a little hinky. The rules vary by branch and by branch manager. I would be very surprised if you can open an account online.
Secondly, summer 2020 is upon us. I think there are some rules about how long the funds have been in the account, and potencially where those funds come from (some people have complained about how Transferwise doesn't report it as foreign deposit).
Secondly, summer 2020 is upon us. I think there are some rules about how long the funds have been in the account, and potencially where those funds come from (some people have complained about how Transferwise doesn't report it as foreign deposit).
Robert *******
Awesome good choice
Kelly ********
There is Bangkok bank and others in new york and around the world
Robert **********
Kelly Miller you cannot open a personal account there
Paula **************
OPYes, but not one in Doha, where I live.
Paula **************
OPThanks for all the advice. I do not want to fly home to the US to get the first Visa, if possible. I will see what I can do out of the Thai embassy in Qatar. I am also considering a 5-year elite visa. Anyone have experience with that visa. Thanks again.
Evan ********
@Paula *************
in your original questions you said you want to retire in Thailand so I assumed you were still in your “home country”. Very different from inside Thailand or another country!Evan ********
You don’t need to any of that if you get the retirement visa in your home country before you get to Thailand! Plus you can get almost 2 years from that one AO visa 😄. Easy enough to get a thai bank account when you’re here too
Evan ********
@Paula *************
I’d suggest you look up if there’s a thai embassy in Qatar and then see if you meet the requirements to get an AO visa. If you can, you will only need bank statements to show you have 800,000 baht (equivalent) in your account (not in a thai bank) plus the other requirements of course
Steven ***************
The 800k in a THAIbank account is for an extension of your retirement visa. Youll have plenty of time to get a bank account before you need it.
Paula **************
OP@Evan *******
and, don't I still need to prove 800,000 baht deposit before getting the visa?Paula **************
OP@Evan *******
yes, but I currently live in Qatar. Is it worth flying home for that alone?Activity
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