Being 70 y/o now and only just started drawing my 3 uk pensions, I can easily meet the 65k thai baht p/month criteria for having uk/thai money income/transfer, I also have a decent amount of savings to put 400k thai bht in a Thai bank,. I need to open a Thai bank account and will be entering the country on a 60 day visa exempt stamp and will extend this by 30 days,I have a Residense in thailand also, what’s my best plan of action when I arrive back in a few months time ?,.thanks,.
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TLDR : Answer Summary
The post discusses the plans of a 70-year-old retiree returning to Thailand, focusing on the best course of action regarding visa and banking requirements. Key points include the necessity of having 800,000 THB in a Thai bank to apply for a Non-O visa, the option of obtaining an O-A visa before entering Thailand for ease of bank account setup, and the importance of meeting financial regulations for long-term stay. Responses suggest strategies like starting pension transfers to qualify for retirement visas and emphasize that income verification from foreign sources is not accepted by Thai immigration.
LONG TERM RESIDENT (LTR) VISA RESOURCES / SERVICES
You will likely find it difficult to open a bank account on a 60 day exempt visa. It can be done but the bank will try to get you to buy a worthless life insurance policy for 15,000 THB.
I never had it as I didn’t qualify as I wasn’t drawing pension, plus I was in thailand for 7 months over the uk winter period,.I was cheeky and rang them to see if I could apply for a back payment in arrears but no joy,.
Hi Mike. I have someone who can help with opening a bank account. Please text me and I'll send you her contact. You only pay after you get the account opened
Hi, ok i'm in the same situation I will be arriving in October from the UK I have over 800k in a Thai bank a pension of around 20K and have a Thai residence. I have previously done a 90 day multi entry Non O. I have been back in the UK since May, This trip I will be retiring to Thailand full time except for a three day back to the UK in late February for my daughters wedding. What are my best options? TIA
Start off with OA visa, which will do you for two years without having to transfer 800k into Thai bank account. During the two years start transferring 65k into Thai bank account every month (you can access and spend this immediately it registers in your account). By the time the two years is up, you will have sufficient monthly transfers to qualify for the O retirement visa. You will need to exit the country, come back in on visa exempt, and apply for the 90-day O visa. With thirty days remaining on this visa apply for the 12-month extension. Whatever you do, do NOT miss even one monthly transfer from overseas. Keep this regime going indefinitely, and extended every year
Plus at 65k thb a year, it’s 12 years to put in the 800k. So 70,000 thb the rest if your life is an exaggeration unless you intend on dying in the next 12 years. So…that’s only $24k USD for the hassle and stress of not making a payment for 12 years.
I'm talking about the interest I'm missing out by not having my money invested in Australian Super. The 800k must stay in the Thai bank account paying 1% interest until the day you die. The 65k transfer you can spend as soon as you get it
First of all, what your income is means nothing. The UK embassy does not provide income verification and that's the only thing immigration will accept, so your only option is 800,000 baht in a Thai bank.
You should get the non-O visa from the Thai embassy using the e-visa system before you leave for Thailand. That's because you must already have the money in a Thai bank to apply to convert to the non-O visa in Thailand, and you won't be able to get a bank account on a visa exempt entry. Unless you already have a Thai bank account, then you can do it either way. If you arrive without the visa and without a bank account, you'll basically be forced to pay an agent to assist you in getting a bank account.
You need 800k in a Thai bank for two months prior to applying for an in country Non-O visa based on retirement. If you do that in the first few weeks after arrival you can transition from visa exempt stamp with extension to the Non-O.
only Jomtien immigration requires the money to be in the bank for 2 months before applying to convert to non-O. Every other immigration office only requires that the money is in the bank and was transferred from overseas.
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