What is considered an Income Certificate for a Retirement Visa in Thailand?

May 28, 2022
2 years ago
Darren *********
ORIGINAL POSTER
I recently posted the question below and received some helpful responses…..

“Apologies if this has been covered before but my question is, what constitutes as an Income Certificate (original copy) for a Retirement Visa? The 800k THB deposited in a bank is easy to prove and is currently what I am doing but I also receive income on investments and a monthly fee for consultancy services but paid into a bank account in orher countries (HK and SGP). I currently transfer more than 65k per month (114k) into my Bangkok Bank account for monthly expenses from overseas but it’s not from a confirmed pension or retirement plan or anything of that nature. If I can find a way to show the authorities that I have sufficient non-pension based monthly income (which I have) then I can release the 800k that just sits there doing nothing. Any help or advice appreciated…...”

however, we did a test run this week with a letter from Bangkok Bank showing and confirming the regular deposit from overseas of 114k, we produced 12 months of bank statements showing said deposits and an up to date bank book. The immigration officer said if the funds are not from an actual state or private pension and it’s just from overseas savings/investments then the income does not qualify for the 65k regular income alternative to the 800k deposit. Can this be right? And if not, how or where can I get this option accepted as properly legitimate which I believe it is.
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TLDR : Answer Summary
The user's inquiry revolves around what qualifies as an Income Certificate for obtaining a Retirement Visa in Thailand, particularly in relation to proving monthly income that is not derived from a pension. Despite receiving a letter from the bank confirming regular overseas deposits, the immigration officer questioned the legitimacy of these funds. The community offers different perspectives, some suggesting a maintenance of 800k THB in the bank, while others assert that monthly transfers are sufficient. The user seeks clarity on how to present their overseas income in a way that satisfies immigration requirements.
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.
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Brett **********
Would getting an O-A visa outside of Thailand and renewing every two years be too much hassle? Then you get to keep your money wherever you like?
Bobby ********
@Brett *********
You don't renew every two years. You need to return to your home country and apply for a new OA. I did it this way before covid. Lived in Thailand for seven years. Never was required to transfer money, never visited immigration office. It was brilliant. The Golden Era
Brett **********
@Bobby *******
that's essentially what I meant. Works only if you want to return occasionally to your home country though
Bobby ********
@Brett *********
Correct. I'm a regular visitor home (about every 18-24 months) to visit family so it suits me perfectly, as it does many others, but if your plan is to remain ongoing in Thailand, you are best to have the standard O retirement visa.
Brett **********
And don't mind a quick trip somewhere closer after each first year
Brook ********
I’m sort of in the same situation. I live off interest from my investments.

I put ฿803,000 into a Kasikorn Money Market account at .25% and called it finished.
Darren *********
ORIGINAL POSTER
@Brook *******
but I would rather not do that. Doesn’t make sense to me if I have a regular income coming in
Brook ********
@Darren ********
yea, because that’s what Thai bureaucracies do… common sense and logic.
Bobby ********
@Brook *******
That's crazy. I also live off investments. To put 800k into an account earning 0.5% is lunacy. I do the 65k/month transfer and the money is mine to do what I want with. I cannot comprehend those who use the 800k method - but it's each to their own I guess
Darren *********
ORIGINAL POSTER
@Bobby *******
so how do you get immigration to accept the 65k scenario Bobby?
Bobby ********
@Darren ********
Produce bank book and twelve months statements from bank showing all international transfers.
Darren *********
ORIGINAL POSTER
@Bobby *******
will do. Have that already.
Bobby ********
You're being fed bs. The only stipulation is the money is transferred into a Thai bank account from overseas at monthly intervals. There's no requirement to show where the money comes from
Darren *********
ORIGINAL POSTER
@Bobby *******
that was also my understanding Bobby. But the problem I face is how to get the powers that be to accept that premise.
Bobby ********
@Darren ********
I just did mine a month ago no problem. Try the head honcho at your immigration office.
Darren *********
ORIGINAL POSTER
@Bobby *******
ok. May I ask which immigration office you used? I was told there is only 1 in BKK that handles Retirement visa renewals.
Bobby ********
@Darren ********
I used Chaengwatthana.
Darren *********
ORIGINAL POSTER
@Bobby *******
ok. Thanks Bobby b
Robert ********
They are thinking money laundering so you have no chance without an official letter or maybe tax returns etc …
Darren *********
ORIGINAL POSTER
@Robert *******
ok. So what does an official letter look like? And how can it be money laundering? Bangkok bank conducts AML checks on monies received from HSBC HK or UOB SGP as do the sending banks. It shows quite clearly in the bank statements the source of funds.
Darren *********
ORIGINAL POSTER
You’re right Steven. That’s basically what I have. A self invested personal pension plan where I seed the plan, invest the fund and payout the proceeds.

I could issue a letter but do you really think that anyone would understand it or agree with it?!!
Leonard *********
@Darren ********
my government pension in Australia wrote me a letter like this (hopefully it is enough)!
Darren *********
ORIGINAL POSTER
@Leonard ********
thanks Leonard; that’s great for you. But I won’t receive a pension for many years to come. I’m one of the just above 50 so I use my accumulated savings for income until pensions kick in at some point in time. So that’s what I’m trying to justify to the authorities as my income.
Stephen **********
@Darren ********
say for example you DID have your own PRIVATE pension fund. You’d be putting your income into the fund and paying out to yourself each month. You’d be able to issue the letter yourself and nobody would have any right or means to question it.
Leonard *********
@Darren ********
okay. I didn’t pick that up in your narrative
Darren *********
ORIGINAL POSTER
@Leonard ********
no problem.
Robert ********
@Darren ********
I had a similar issue. I had one years bank statements. Receipts from Wise showing International Transfer to reconcile the bank statements. All no good. They want an embassy or pension letter to disprove AML. This is Thailand.
Darren *********
ORIGINAL POSTER
@Robert *******
ok. So what can an embassy provide in relation to my monthly deposit from overseas? I can’t see any embassy from any country providing any relevant information. And why would I want the whole of any pension paid into Thailand. Better to pay off-shore and then just transfer in sufficient funds to meet one’s needs. So 65k or above.

Yep. TIT!!
Robert ********
@Darren ********
I am not sure the British embassy issues the letter anymore. Immigrations issue is how the money arrived in your U.K. bank. You need to prove it is legitimate. My issue was a catch 22. I could show the money in my U.K. bank. But I have no wages as I am retired. I am on a retirement visa remember? An old P60 was not good enough to prove it is savings from a legitimate salary. They would not budge and don’t care either. I switched to the 800k method now.
Darren *********
ORIGINAL POSTER
@Robert *******
my funds are not in a UK bank. My funds are in a HK and Singapore bank. The funds in those banks came via earned income and they could see from those banks statements the name of the companies depositing those funds in those accounts.
Robert ********
@Darren ********
don’t try to apply logic.
Darren *********
ORIGINAL POSTER
@Robert *******
ha ha. For sure!
Jeffrey ************
The Thai elite visa doesn't require all this aggro.
Darren *********
ORIGINAL POSTER
@Jeffrey ***********
yes. But your money disappears. At least for the time being I have 800k that I can use at some point in time.
Will ************
800k in bank for 2 months prior to extension, don’t let it drop below 400k and top it back up to 800k about 3months before the yearly extension . Saves the hassle of the income route
Bobby ********
@Will ***********
But it doesn't save the hassle of having 800k almost untouchable for the rest of your life!
Darren *********
ORIGINAL POSTER
@Will ***********
because I already have sufficient regular deposits I would rather release the 800k and use it rather than just leave it sitting there doing nothing.
Will ************
@Darren ********
in which case you must deposit a minimum of 65k for 12 consecutive months into a Thai bank account prior to application to qualify
Dave **********
Will. May I just ask a question, if you might know of a possibility regarding 65k per month into a Thai bank account without papers to show single pension income? Are there 2 options 1. Pay 65 k into my account in Thailand whilst I'm living here in the UK ,then after a year of doing this can I then come to Thailand and apply for retirement visa? 2. Come to Thailand Pay 800 k into my Thai account and also pay 65k per month into that account, so the following year I can show regular payments for 12 month? And of course continue to pay 65 k per month thereafter.
Darren *********
ORIGINAL POSTER
That’s basically what I’m in the process of doing except I was in Thailand already. I’m just trying to get the 65k accepted without any pension paperwork. I’m going next Monday in person this time to see how I get on.
Darren *********
ORIGINAL POSTER
@Will ***********
that’s exactly what I’ve done Will. But as I said, the immigration officer said that was not enough. He said it must come from an “official” income source, like a state pension and not from general savings or investments.
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