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Answered4 years ago

When can you drop below 800K baht after getting a retirement extension in Thailand?

Manfred ********
asked Jan 17, 2023
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Following scenario:

one applies for a one year extension of stay (retirement/800K on bankbook).

The 800k have to stay in the bank for 3 months before you are allowed to go under 800K.

Question:

When do these 3 months exactly start/end?

Example:

Applied for and got the extension on November 2. The extension starts on November 15.

When in February can one go under 800K?
Answer summary
When you apply for a one-year extension of stay under the retirement category in Thailand, the requirement mandates that 800,000 baht must remain in your bank account for three months post-application. Specifically, if your extension starts on November 15, the three-month period would end on February 15. Yet, it is advisable to wait a little longer before withdrawing any funds, such as a week after the end date, to avoid any potential issues. Additionally, it's important to remember that the balance must not drop below 400,000 baht for the remainder of the year.
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Tod *********
Tod *********
The 3 month AFTER the extension period would run Nov 15-Feb 15 BUT I sure wouldn't run to the bank that day and pull the balance down.

There's no need to be a "day counter" 😮 I'd say give yourself a cushion and wait a week or so after that date

AND

Remember the balance can't go below 400K baht the whole rest of the year.
Manfred ********
Manfred ********
OP
that's exactly what my friend expected. He will take his time to take the money out and will not go under 400k!

Thx for your quick answer :-)
Jon ******
Jon ******
@Manfred *******
you might also remind your friend that he would need to get the balance back up to 800k at least 2 months (I think) before his annual renewal.

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