When can I start withdrawing from my banked balance after switching to the embassy letter method for my retirement visa in Thailand?

Retirement Visa Bank Balance Requirement Affidavit of Income Thai Immigration Visa Renewal Financial Regulations in Thailand

May 28, 2024

6 months ago

KC ***********

ORIGINAL POSTER

Hi I used the banked money method to get my retirement visa last year and kept the balance above 400k until I renewed my visa today.  I switched to the embassy letter method and received my new visa that expires jun 19 2025.  Question is when can I start drawing down my 400k balance? TIA 🙏

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TLDR : Answer Summary

A user inquired about when they could start withdrawing from their savings account after switching from the banked money method to the embassy letter method for their retirement visa. The discussion clarified that while the official requirement is to maintain a balance of 400,000 baht until the end of the extension period (June 19, 2024), there may be a low chance of account verification after obtaining a new extension, though caution was advised.

NON-O RETIREMENT VISA RESOURCES / SERVICES

Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
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KC ***********

ORIGINAL POSTER

@Ellie ******

James Miller . . . ok I guess I will play it safe and leave the money alone until after June 19... thank you for your advices!

6 months ago

Ellie *******

Technically you have to keep your 400k baht for “the rest of the year” of your extension, means until 19 June 2024. But as you already got a new yearly extension, the chance of being checked the balance in your account would be a slim (but cannot guarantee on any single different scenario). Your decision which way you want to go.

6 months ago

James ********

@Ellie ******

good point ✅

6 months ago

Reply to

James ********

IF you are now using the Affidavit of Income letter from your home country Embassy, there's NO requirement for you to have funds on deposit in a Thai bank account in your name only.

However, you will need to satisfy the requirements of your home country Embassy for issuing the Affidavit of Income letter to Thai Immigration.

Your Thai Immigration office also can ask you for verification of your income or the documents which you used to obtain the Affidavit of Income letter from your Embassy.

6 months ago

Reply to

James ********

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Can I withdraw my funds from a Thai bank account after meeting retirement visa requirements?

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