Answered4 years ago

Will dropping below 400,000 baht in my savings account affect my Retirement Visa renewal?

Retirement Visa Thailand visa rules bank account requirements expat living in Thailand financial requirements for visa Thai immigration regulations

Jon ********

asked Sep 26, 2022

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I recently added a new savings account to use solely to hold 800,000 baht for my Retirement Visa. This account has no ATM access or auto withdrawal for my insurance payments so I won't have to constantly monitor it. This was the reason to create the new account. This brought down the the savings account I have been using for the Retirement Visa under 400,000. Will this be an issue when I renew ?

Answer summary

The user has created a new savings account to hold 800,000 baht for a Retirement Visa but has dropped their primary account balance below 400,000 baht. Comments clarify that to renew the visa, they must show both bank accounts and maintain the combined total above 400,000 baht while demonstrating that they held the 800,000 for the required duration.

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Tod *********

you're going to need to show both bank accounts, get bank letters from both, get yearly transaction print outs from both, update the bank books from both because you have to show that the two accounts combined didn't go below 400k.

You already kept the 800K baht in the account 3 months after your extension was granted BEFORE you moved the funds to a new account right?

Remember the seasoning is 800K for 2 months before you apply for your extension, kept in the account for 3 months after your extension is granted and then the balance can't go below 400K baht the rest of the year until it's back at 800K 2 months before your next extension

4 years ago

Jon ********

@Tod ********

Hi Todd, yes I created a new account and moved 805,000 baht into it and have kept the other account open. I use the same bank for both accounts. Everything was seasoned and past the 3 months requirement after the extension when I created the new account. The window for the new seasoning period will not start until December

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months before and after. What should the bank letter state for the 1st bank account that was used previously for the retirement funds? Just verify the balance at the time of the transfer. My total funds have never dropped below 700,000 so I am well above the 400K threshold.

4 years ago

Tod *********

@Jon *******

other than needing BOTH accounts to show that (and the letter, the transaction history and the updated bank books for both accounts) you shouldn't have any issues at all

4 years ago