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Jonathan Fairfield

Foreigners now need to keep 800k in Thai bank for three months AFTER retirement extension is granted

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2 minutes ago, notamember said:

you will need a heater installing, the odometer reset from Km to MPH and and an MOT, then pay the import tax and VAT  then you will be ok

Modern cars come with a heater and air con 555 The odometer can be reset with a press of a button and to be honest my post was tongue in cheek as I have no intention of leaving Thailand!

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3 minutes ago, zydeco said:

And the question is: how do they check to see that you keep 400K for the rest of the year? Either you need to go in every 90 days or whatever OR at your next renewal, if you fell below the 400K sometime in the previous year, no renewal???

That sounds like the sensible way to do it, will have to wait and see

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4 minutes ago, trainman34014 said:

The Agents can't do this fake stuff for Marriage Visa's as they need more back up paperwork that they can't provide.

they can but they charge twice as much as a retirement extension for the very same reasons you have stated and there are many more mouths to feed

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12 minutes ago, DrTuner said:

800k might be ok, but committing to living in Thailand is something one should avoid at all costs. You never know when some event makes it inhabitable. 

 

One leg out the door with plan B,C and D in the pocket is the way to go.

WE HAVE ANOTHER WINNER!

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3 minutes ago, trainman34014 said:

And get a nasty Tax Bill when you get back !

I think not as my post was tongue in cheek and I have no intentions of leaving!

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2 minutes ago, Sheryl said:

And only half of it then.

 

Basically you have to have a balance of 800K for 6 months of the year (3 months before extension and 3 months after) and then a balance of 400k or more the rest of the time.

 

In practical terms if your living costs here average around 65k a month  then you need to bring in bring in almost 1.2 million 3 months before your expiration date.

 

Since they are requiring substantial amount of funds deposited which cannot be spent, big question in my mind is: will they allow it to be in a fixed deposit so at least it gathers more interest?

 

Also - when does this take effect? I have been using the 800k method and, naturally, spending it down as the year passes and balance right now is already under 400k.

 

????

I think the OP said it begins in March. So that is 28 days from now.

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4 minutes ago, OKF said:

which visa are they talking about here exactly. I am on a Multiple Non-O and leave the country every 2-3 months for 2-3 months....does this apply for me as well?

It doesn't apply to you if you have a multiple entry non-o visa issued by a embassy or consulate.

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