Jump to content
BANGKOK 27 March 2019 05:12
telboybk

Retirement Visa. 800k only in 1 account

Recommended Posts

There is no rule that it has to be in one account. But some offices may only accept one account or some might say 2 is OK. But 5 accounts may be to many at most offices.

  • Haha 1

Share this post


Link to post
Share on other sites

The 5 accounts must also all be in your sole name.

Share this post


Link to post
Share on other sites

Upon further reflection, it's even worse than I thought initially.  The Immigration Officer would have to go through each of the five accounts looking for the lowest balance during each relevant period, which would be each month.  He would have to tally the minimum balances for all five accounts for each of the twelve months in the year.  So, at a minimum 12 different sums of 5 numbers.  Once he determined the minimum balance per month across all five accounts he would have to apply the relevant threshold (800,000 or 400,000) to each month to see if you met the requirement.

Short answer, if I were your Immigration Officer you wouldn't be getting an extension of stay from me.  I think he would have the sympathy of everyone else in the office, too.  It's like going to the police station to pay a fine for not wearing a helmet and showing up with a bag of 50 and 25 satang coins.  Not strictly illegal but a very, very bad idea. 😉

Edited by skatewash
  • Like 2

Share this post


Link to post
Share on other sites
2 hours ago, telboybk said:

My question is does the 800k in a Thai bank have to be kept on one account? My money is spread over 5 accounts in two different banks.

There is no definitive answer, but you are definitely pushing your luck using 5 accounts. You should check with your local office before you apply so you can move the money in time if they say no.

Share this post


Link to post
Share on other sites

I have used two accounts on previous extensions with no problems at Phuket.

 

I'm considering opening an interest earning account with 400,000  baht in after my 800,000 has reached remained for three months after my next extension. That 400,000 would sit there and I wouldn't have any worries about dropping below the threshold. I'd just have to live more frugally than usual during that first year.

  • Sad 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...