Answered7 months ago
Will using funds from a friend for a retirement visa extension in Thailand raise any concerns with immigration?
While I have the required 800,000 baht for the retirement extension deposit, it is located in a tax deferred retirement account, which I’m loathe to touch. A wealthy Thai friend (who I’ve known for over 40 years and is like a brother) has suggested that he fund the 800k, while I deposit 65,000 a month from my pension - eventually leading to the 800k being freed up. I realize not every Immigration office allows the hybrid system, but my question is: will the 800,000 coming from another person raise any red flags?
Answer summary
The poster is considering using funds from a wealthy Thai friend to meet the 800,000 baht requirement for a retirement visa in Thailand. They've raised concerns about whether this arrangement could raise suspicions with immigration. The community response suggests that while the initial deposit must be in the poster's account for at least two months, there are differing opinions on the necessity of showing proof of an international transfer for the 800k. Various comments emphasize that as long as the money is in the applicant's name and seasoned correctly, it should not be a problem. However, the poster is advised to proceed with caution and check with their local immigration office for specific requirements.
42 repliesnewest first
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Gordon *********
If you apply for the non-o retirement visa you have to show the equivalent
*****
0 baht in your bank account when you apply. They won't accept a statement from your pension company.
Joseph ********
If it working for you why change.
Willem ****************
Go see an agent and they will have you sorted.
Larry *********
your 65k baht income every month from your pension is fine. just use one requirement. keep it simple. your monthly pension is the requirement.
David ************
If you can’t afford to live in Thailand legally don’t bother you’ll have more of a headache trying to survive
Gerar ********
There is no any requirement to show where the money in your bank account coming from.
As long the bank account is in your name and is it seasoned correctly you are fine.
As long the bank account is in your name and is it seasoned correctly you are fine.
Jacques *******
Always ask to your immigration office. Rules change from one to other and facebook is not the best information board !!!
Donald ********
It does not matter where the money comes from but whether or not you have the required money in your account at the right time for the right amount of time.
David **************
Just as a footnote, BKK Bank will freeze your assets to maintain whatever "seasoning" restrictions they deem applicable.
Beverly **********
I did the OA from the US using my IRA funds.
It was before the insurance requirement, but not difficult really.
Letter from your broker and a statement from the IRA people.
It was before the insurance requirement, but not difficult really.
Letter from your broker and a statement from the IRA people.
Bahderlong ******
use the agent very easy
Harris **********
Use my agent no fuss no problems
Albert *********
Technically if you are a US citizen and have over 10,000 in a foreign bank you have to file a FBAR tax form. Even if you are a cosigner on a foreign account.
Simon *******
Use an agent they have ways around the 2 months before and 3 months after ,simply transfer 6500bht as soon as you visa is ok and for the next 12 months
Ray ********
It shouldn’t matter, I opened mine with cash, no question as to where the money came from.
John *********
Firstly you need to Deposit the minimum of 800K. You cannot go for the monthly minimum deposit of 65K until after your first renewal. It’s not worth the angst to be honest with you. Plenty of Immigration Offices don’t like it either. So be prepared for them to be pedantic. Bottom line is you need to commit, and there’s just no getting away from that.
Robin ********
He could send it to your home bank and then you transfer it to your thai bank ?
Sara *******
Along with above comments, sometimes Immigration asked proof that funds came from foreign accounts which should also be same as applicant name, in Bank book also its coded different than local deposits
Peter *********
Just leave in your own account for your Visa only don't trust anybody
Stephen ***********
Peter Weedall
Give it to a bar girl to look after for you
Give it to a bar girl to look after for you
Julian *******
Phang Nga immigration want it there for 3 months and proof of international transfer. You should check with your local immigration office for their requirements
John **********
The 800k baht has to be in a Thai bank account in your name for 2 months before applying for an extension of stay. He can't fund it per se, he'd have to lend you the money to pay into your bank account. 3 months after you get the extension you can reduce that down to 400k. As to the 65k method, you need to start that before applying for the extension based on 800k baht as next year you will need to show 12 calendar months of transfers of a minimum of 65k baht from overseas, you can't miss a month nor can any month drop below but the good news is you can spend it once it arrives in your account
Andrew ********
@John *********
interesting. I recieve significantly more than 65,000b each month from overseas. between 300,000 and 750,000 from different sources. every month. last year I took myb12 months statements to Immigration. they asked me for a bank letter notarized by the bank showing every month deposits only. I got that. then they wanted a notarized letter from each source agreeing the inbound amounts. which were already in my account. my agent said they just dont want to accept this validation of the funds as it is too complicated. and now I am told that immigration (Pattaya♧ won't accept Bangkok bank confirmation of 800,000 and I have to open a new account. which I cannot as I am abroad at thr moment and won't have time.e before mu current retire.ent visa expires to open a new account and renew. ARRGHHHHH
John **********
@Andrew *******
that letter is normal, the banks refer to it as a guarantee letter and you need one (although slightly different) for the 800k baht method as well. I guess the amounts you receive per month are high enough to arouse suspicion so they wanted to clarify. As to Bangkok Bank you can still use them with every immigration office that I'm aware of but an agent is no longer able to stick the required funds into the account for a short period to get your extension of stay so they need you to use another bankAndrew ********
@John *********
thanksTrustworth***********
OP@John *********
Thanks, I get all that. I guess my distilled question is: will I need to show proof of an international transfer or can I just deposit the money he gives me. I’m in Jomtien.
Graham ******
TrustworthyPomelo3291 An international transfer is not a requirement for an extension
John **********
TrustworthyPomelo3291 for an extension of stay there should be no need for an international transfer
Peter **********
@John *********
Well….suppose the (Anti) Money-Laundering Authorities pick it up?They will ask for the origin of funds.
Trustworth***********
OP@John *********
Thank you.
Tony *********
Just use your 800k for the first year then change over . Whats the problem?
Max ********
Tony Cabello the problem is written right in the post you commented on…before reading. Damn public skoplz.
Taking money out of a tax differed account comes with heavy penalties and cant just be put back.
You have zero change of retiring until you understand how little of your money is actually going to be yours if you don’t read how things work for yourself. Try less screen time and more 3D life.
Taking money out of a tax differed account comes with heavy penalties and cant just be put back.
You have zero change of retiring until you understand how little of your money is actually going to be yours if you don’t read how things work for yourself. Try less screen time and more 3D life.
Jack ********
@Max *******
if one can’t afford the ฿800K they should out working. It’s peanuts and ฿800K is a good weekend on the town in Bangkok sonMax ********
Jack Wilbur it’s 24k usd. Dont try to act like a big short with a locked fake profile.
Nobody who actually swings money like that posts under fake names or takes time arguing and flexing on the internet.
Nobody who actually swings money like that posts under fake names or takes time arguing and flexing on the internet.
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