800,000 baht requirement for retirement visa extension

[chang50]

Can someone please confirm that the 800k requirement for a retirement visa extension does not include any proof of where the funds originated.I've recently started using Transferwise as opposed to transferring direct from my UK bank,will this raise any problems?I'm pretty sure it will not just making sure.

[ubonjoe]

Proof the funds came from abroad is not required to apply for a one year extension of stay (not a visa).

 

The confusion is because that it is needed to apply for a 90 day non immigrant visa (category O) entry at immigration that is required to apply for the extension of stay based upon retirement. That is required since the money does not have to be in the bank any longer than the date the visa is applied for.

[chang50]

20 minutes ago, ubonjoe said:

Proof the funds came from abroad is not required to apply for a one year extension of stay (not a visa).

 

The confusion is because that it is needed to apply for a 90 day non immigrant visa (category O) entry at immigration that is required to apply for the extension of stay based upon retirement. That is required since the money does not have to be in the bank any longer than the date the visa is applied for.

Thanks for putting my mind at rest Joe..

[sappersrest]

Retirement visa extension.

 

Normally I usually for fill the financial requirements by a 50 / 50 split 400 k in the bank and 400k income supported by UK embassy letter.

My plan now is to have monies from the uk paid directly into my Bangkok bank account, for example 400 k spread over a 10 moth period, and 400k on deposit in Bangkok bank.

Will this method be acceptable to Thai immigration?

[ubonjoe]

6 minutes ago, sappersrest said:

Will this method be acceptable to Thai immigration?

Not at this time.

They still want a doucment from a embassy for the proof of income.

 

[elviajero]

5 hours ago, chang50 said:

Can someone please confirm that the 800k requirement for a retirement visa extension does not include any proof of where the funds originated.I've recently started using Transferwise as opposed to transferring direct from my UK bank,will this raise any problems?I'm pretty sure it will not just making sure.

As a general rule/practice immigration do not request proof that the funds came from abroad when applying for an extension of stay, however, — to be clear — the funds are supposed to originate from abroad and they could ask for proof.

[soisanuk]

I transfer funds using Transferwise from USA to Bangkok Bank.  Bangkok bank records the deposit as funds originating outside of Thailand.

[wgdanson]

Transferwise deposits in your Thai bank will say FTT....foreign transfer (or co in Bkk Bank) so no worries. Sorry soisanuk, only just saw your post.

 

Edited October 12, 2018 by wgdanson

[mtls2005]

Is the FTT designation enough to satisfy Immigration? What if you say, use an ATM to withdraw funds and then deposit them so that the 800,000 is a "mix" of deposits?

 

Is it acceptable to just leave 800,000 in a Thai bank, year-in-year-out, with no withdrawals? Does this prompt Immigration to ask for financial details on additional monies one uses for living expenses throughout the year?

 

Do you have to make a deposit just prior to your annual extension to show current "activity" in the bank book?

 

And what is the acceptable time period for the bank letter certifying the amount? Three days? Same day? Does the Bangkok Bank branch in CHaeng Watthana issue this letter, even if your home branch is another location?

[bkkcanuck8]

2 minutes ago, mtls2005 said:

Is the FTT designation enough to satisfy Immigration? What if you say, use an ATM to withdraw funds and then deposit them so that the 800,000 is a "mix" of deposits?

 

Is it acceptable to just leave 800,000 in a Thai bank, year-in-year-out, with no withdrawals? Does this prompt Immigration to ask for financial details on additional monies one uses for living expenses throughout the year?

 

Do you have to make a deposit just prior to your annual extension to show current "activity" in the bank book?

 

And what is the acceptable time period for the bank letter certifying the amount? Three days? Same day? Does the Bangkok Bank branch in CHaeng Watthana issue this letter, even if your home branch is another location?

FTT was sufficient for mine - I just photocopied the entire bank book as part of the application (in addition to other requirements).  FTT I believe stands for Foreign Telegraph Transfer (i.e. wire).

 

It is possible (based on other postings) that 800,000 static amount in a Thai bank might raise red-flags as this is the money they are expecting you to live on.  If it is stable then they start to think - you must be getting money elsewhere (i.e. working).  [I don't think it is consistent with regards to this item]

 

My deposits for the visa consisted of about 6 FTT transactions (the last 4 would have been enough;  in that bank book) and regular activity because I was using it to live on.  I did do a 100 baht withdrawal the day I got the letter just to force the bank book activity to show that the balance was up to that date. 

[ubonjoe]

16 minutes ago, mtls2005 said:

Is the FTT designation enough to satisfy Immigration? What if you say, use an ATM to withdraw funds and then deposit them so that the 800,000 is a "mix" of deposits?

Proof the funds came from abroad is not required to apply for an extension of stay at immigration. If applying for a 90 day non immigrant visa (category O) entry based upon qualify for an extension for retirement proof the funds came from abroad is required from your bank.

16 minutes ago, mtls2005 said:

s it acceptable to just leave 800,000 in a Thai bank, year-in-year-out, with no withdrawals? Does this prompt Immigration to ask for financial details on additional monies one uses for living expenses throughout the year?

 

That depends upon the immigration office you apply at. Some offices want to see activity or other proof of where you are getting the money to live on.

16 minutes ago, mtls2005 said:

Do you have to make a deposit just prior to your annual extension to show current "activity" in the bank book?

Not unless it is needed to get a update of the bank book.

16 minutes ago, mtls2005 said:

And what is the acceptable time period for the bank letter certifying the amount? Three days? Same day? Does the Bangkok Bank branch in CHaeng Watthana issue this letter, even if your home branch is another location?

How old the letter from the can be depends upon the office you apply at. Chaeng Wattana immigration prefers it to be the same day you apply but will accept one from the day before but you must have your bank book updated on the date you apply.

The bank branches at CW will do the letter. It doesn't matter where your account was opened.

[jayceenik]

Back in the SuaPhlu days I used to get my bank letter a couple days before applying for the one-year extension.

But when they moved to ChaengWattana they began insisting on a same day letter with an account movement also on the same day.

Not a problem in CW since all Thai banks have branches in the basement but it involved a (small) deposit, a bank letter and a photocopy of the updated bank book (fortunately there is a couple photocopy places also in the basement) before queuing for the extension.

They're not asking for proof that the 800k come from outside Thailand. Only the amount counts. 

 

[namatjira]

Chiangmai ai is no problem with the 800k fixed deposit being used...I have just presented them with this for seven years now.

a fixed interest bearing acc with 800 in it......easy as.

[Henryford]

2 hours ago, soisanuk said:

I transfer funds using Transferwise from USA to Bangkok Bank.  Bangkok bank records the deposit as funds originating outside of Thailand.

I thought Transferwise worked by transferring to your thai bank from another thai bank. So you might pay for it with foreign funds but the transfer to your bank is from within Thailand.

[elviajero]

1 hour ago, mtls2005 said:

Is the FTT designation enough to satisfy Immigration? What if you say, use an ATM to withdraw funds and then deposit them so that the 800,000 is a "mix" of deposits?

Yes the FTT should satisfy immigration, but they are highly unlikely to be looking for proof. A mix of deposits is no problem. In the situation you describe just keep the ATM receipt. Their main focus will be ensuring a minimum balance of 800K has been maintained for the required 60 days/3 months.

 

1 hour ago, mtls2005 said:

Is it acceptable to just leave 800,000 in a Thai bank, year-in-year-out, with no withdrawals? Does this prompt Immigration to ask for financial details on additional monies one uses for living expenses throughout the year?

Depends on the office/officer processing the application. It is supposed to be the money you live on and immigration have been known to, rarely, ask about additional finances.

 

1 hour ago, mtls2005 said:

Do you have to make a deposit just prior to your annual extension to show current "activity" in the bank book?

If the money has been untouched you would usually need to make a deposit or withdrawal — making sure you don’t drop below 800K — to update the passbook so they can see the 800 has been in the account for the required time.

 

1 hour ago, mtls2005 said:

And what is the acceptable time period for the bank letter certifying the amount? Three days? Same day? Does the Bangkok Bank branch in CHaeng Watthana issue this letter, even if your home branch is another location?

Depends on the office you’re applying at. Generally it’s best to get the letter the same day. 

 

Yes Bangkok Bank at CW will issue a letter regardless of where you home branch is.

 

[newatthis]

1 hour ago, Henryford said:

I thought Transferwise worked by transferring to your thai bank from another thai bank. So you might pay for it with foreign funds but the transfer to your bank is from within Thailand.

SCB does NOT show it as an overseas transfer on either my mobile app or internet laptop printout. They just show it as an Automated Transfer plus Deposit No Book with a reference detailing transfer of funds between banks.

[Surasak]

I have a interest paying Account with KTB bank. I use the same book to show the 800,000 each year. I can put funds into the A/C but cannot remove funds without losing interest. I have used this method over the past 9 years with no problems from immigration. I always take a normal deposit bank book which shows funds in and out on a regular basis, which is topped up from time to time from funds from UK. This is always updated on the day I get my Bank letter. I have never been asked to show this and have never been questioned as to my means of financial support. If that should ever happen, I have Visa Debit cards and Cash cards to show means of financial support. Some immigration offices, as we all know, apply different rules to suit themselves, I'm glad to say the one I use is usually pretty straightforward.

[chang50]

1 hour ago, newatthis said:

SCB does NOT show it as an overseas transfer on either my mobile app or internet laptop printout. They just show it as an Automated Transfer plus Deposit No Book with a reference detailing transfer of funds between banks.

My bank Kasikorn  just shows TRN.But as Joe says the money does not have to come from abroad anyway.

[johnnort]

I have always used the income letter for my extensions of stay (retirement), but now with maybe having to show 800000Baht in a bank, what accounts are acceptable? My wife (Thai) and I have had a joint account with BB for the past 19 years; have I read in the distant past, when it was of no interest to me, that joint accounts were not acceptable by Immigration?

[Rod the Sod]

4 hours ago, bkkcanuck8 said:

FTT was sufficient for mine - I just photocopied the entire bank book as part of the application (in addition to other requirements).  FTT I believe stands for Foreign Telegraph Transfer (i.e. wire).

 

It is possible (based on other postings) that 800,000 static amount in a Thai bank might raise red-flags as this is the money they are expecting you to live on.  If it is stable then they start to think - you must be getting money elsewhere (i.e. working).  [I don't think it is consistent with regards to this item]

 

My deposits for the visa consisted of about 6 FTT transactions (the last 4 would have been enough;  in that bank book) and regular activity because I was using it to live on.  I did do a 100 baht withdrawal the day I got the letter just to force the bank book activity to show that the balance was up to that date. 

Don't agree. I have had 800k static for two years. It is not suppose to be the money you live off, it is evidence that you have sufficient money to live off. You can create income without working especially if you are a pensioner drawing down from your savings abroad. If you can show overseas statements that evidence regular withdrawals from savings using a Thai ATM I don't see why this should cause any problems at all.

[Brayka]

We always put 3months in advance 100 baht on that 800.000 account, because in Hua Hin they don’t accept “sleeping” accounts.

[Mavideol]

On 10/11/2018 at 11:28 AM, ubonjoe said:

Not at this time.

They still want a doucment from a embassy for the proof of income.

 

Joe, can you help explaining the way to get a PR card or visa or whatsoever they call it..... heard that after living here consecutive for 3 years / 3 consecutive retirement visa or extensions (still don't know the difference but that's ok) one could apply for a residence card or resident visa or ...or....

thks

 

 

[ubonjoe]

18 minutes ago, Mavideol said:

Joe, can you help explaining the way to get a PR card or visa or whatsoever they call it..... heard that after living here consecutive for 3 years / 3 consecutive retirement visa or extensions (still don't know the difference but that's ok) one could apply for a residence card or resident visa or ...or...

You have to be working with a work permit, paying taxes and be on extensions of stay for 3 consecutive years to apply for permanent residency.

You cannot qualify when on retirement extensions.

[Mavideol]

1 minute ago, ubonjoe said:

You have to be working with a work permit, paying taxes and be on extensions of stay for 3 consecutive years to apply for permanent residency.

You cannot qualify when on retirement extensions.

thks joe, now I understand

[elviajero]

1 hour ago, johnnort said:

I have always used the income letter for my extensions of stay (retirement), but now with maybe having to show 800000Baht in a bank, what accounts are acceptable? My wife (Thai) and I have had a joint account with BB for the past 19 years; have I read in the distant past, when it was of no interest to me, that joint accounts were not acceptable by Immigration?

They won’t accept a joint account for a retirement extension, but they can (discretionary) accept a joint account for s marriage extension.

 

it would be better for you to open an account in your own name asap.

[robertson468]

On 10/11/2018 at 11:28 AM, ubonjoe said:

Not at this time.

They still want a doucment from a embassy for the proof of income.

 

You are incorrect.  The system is about to change very soon.  Please read previous Thai Visa Forums to get the correct information so that you are not mis-advising people.

[Suradit69]

6 hours ago, elviajero said:

If the money has been untouched you would usually need to make a deposit or withdrawal — making sure you don’t drop below 800K — to update the passbook so they can see the 800 has been in the account for the required time.

Not sure about other banks, but at my branch of Bangkok Bank you can just shove the book in the updating machine and it will print out the balance and current date without a transaction or any other activity since the last update. If I just give my passbook to the clerk when I want the letter, she does the same thing.

[ubonjoe]

11 minutes ago, robertson468 said:

You are incorrect.  The system is about to change very soon.  Please read previous Thai Visa Forums to get the correct information so that you are not mis-advising people.

I was one the first people to read the topic about the UK embassy income letter after it was posted on this forum. That is why I wrote not at this time.

The income letter from the UK embassy ending on 1 January is the only thing posted thus far.

 

[Suradit69]

On 10/11/2018 at 11:28 AM, ubonjoe said:

Not at this time.

They still want a doucment from a embassy for the proof of income.

 

When using the combination method for a retirement extension, how is the required income calculated?

 

If, for example, you had Baht 300,000 in your Thai bank, would it be

 

800,000 - 300,000 = 500,000 which would then be divided by 12 months to reach a required monthly income of  500,000 / 12 = (about) Baht 41,700 a month (or more)?

[Suradit69]

3 hours ago, robertson468 said:

The system is about to change very soon.

What "system" are you talking about. There has been no announcement from immigrations about a change. The British embassy made an announcement, but they hardly qualify as "the system." And they commented on what other embassies would be doing which proved to be so much BS.

 

Anyway UJ said "not at this time." Nothing, including British embassy proceddures, have changed at this time. Supposedly only the British embassy will/might make a change in a couple of months.

 

3 hours ago, robertson468 said:

Not at this time.

 

 

 

 

Edited October 12, 2018 by Suradit69