Opening Thai bank account from Canada for Retirement (O-A) Visa

[Inn Between]

I suspect this has been covered at some point in this forum, but searches didn't reveal the info I want. I was looking at the requirements for getting an (O-A) 1-yr Retirement visa at the Thai Consulate in Canada, and as per the income/savings rule it states:  

 

• A bank statement showing a deposit of the amount equal to no less than 800,000 Baht or an income certificate (original copy) indicating a monthly income of no less than 65,000 Baht. Alternatively, applicants can make a deposit and provide an income certificate indicating a total income of no less than 800,000 Baht a year. All financial statement must have the signature of the bank officer and stamped. Any bank statements require a letter of guarantee from the bank (original copy) as well.

 

But I can't find any info about opening an account from here in Canada to satisfy that rule. I will use the 800K deposit rather than monthly income. 

 

I worked there for many years, and had a retirement visa after completing my series of yearly contracts, but I had to return to Canada a couple of years ago for family reasons, and a few years will have passed before being able to relocate back there again, so all bank accounts, etc. have been closed

 

All help and relevant info is appreciated as it's time to start getting the process in gear to return to Thailand (with all the good and bad it offers). 

 

Edited March 23, 2019 by Inn Between

[Justin Side]

You need the money in your Canadian bank.

You will have to be in Thailand to open a bank account there.

[Inn Between]

Well there ya go. I've only done the visa thing in Thailand -- not from here, so i assumed the 800K had to be in a Thailand bank at the time of application -- not a Canadian one. That was never really made clear anywhere that I saw, and why should the concept of opening an account abroad to specifically meet retirement visa requirements seems so ludicrous anyway? 

 

I've got another question, but I'll ask about it through the consulate and avoid the usual TVF nastiness. The answer to my original question is appreciated, but it's so sad to see comments like, "Is that so hard to understand?"  YIKES!!!  Isn't that a nice tone to take?  Why are there so many snarly and angry people on this forum? 

Edited March 23, 2019 by Inn Between

[wotsdermatter]

8 hours ago, Inn Between said:

I was looking at the requirements for getting an (O-A) 1-yr Retirement visa at the Thai Consulate in Canada, and as per the income/savings rule it states

A while back, I posted complete instructions on how to obtain a Non-immigrant O-A visa from the Thai Embassy in Ottawa.  They do not require proof of a bank account in Thailand but accept a letter from the bank stating you have CADxxx in your Canadian Bank account.  If you call (613) 722-4444 the staff there will tell you the requirements and also e-mail PDF documents or mail a complete set of documents to your home.  Rather a labourious procedure especially, as some of the documents must be notarised.  Required documents include medical cert, police clearance, bank statement, 3 copies of information, further information form (contains much the same material), and copy return plane ticket.  Forgot, you will have to include a CAD200.00 money order or bank draft,  Buy two registered envelopes from your local friendly post office and address both correctly (one to you and one from the embassy to you).  Include all documents and the return envelope.  Normal processing takes no more than a week which does not include mailing time.  You get a 1 year ME visa which can be extended for another year by leaving and re-entering the country just before the old visa expires.  Alternatively, use a courier service which is faster but may be more expensive.

 

There is a 90-day visa that is available but it is not ME.

 

'nuf sed.

Edited March 23, 2019 by wotsdermatter
more info

[Samui Bodoh]

6 hours ago, Inn Between said:

Well there ya go. I've only done the visa thing in Thailand -- not from here, so i assumed the 800K had to be in a Thailand bank at the time of application -- not a Canadian one. That was never really made clear anywhere that I saw, and why should the concept of opening an account abroad to specifically meet retirement visa requirements seems so ludicrous anyway? 

 

I've got another question, but I'll ask about it through the consulate and avoid the usual TVF nastiness. The answer to my original question is appreciated, but it's so sad to see comments like, "Is that so hard to understand?"  YIKES!!!  Isn't that a nice tone to take?  Why are there so many snarly and angry people on this forum? 

Hi Inn Between

 

I am also a Canadian with a Non-Imm O-A Long Stay; I have done 2 of them through the Vancouver Consulate.

 

Feel free to PM me with any questions if/as needed.

 

And yes, ignore the idiots without manners.

 

Cheers

 

PS In order to meet the finance requirement for the O-A, I simply got a one sentence letter (with letterhead) from my stockbroker which read something like;

 

'Mr XXX has an account with stockbroker firm XXX and has XXX of dollars on account. 

 

That was accepted by the consulate.

 

 

Edited March 23, 2019 by Samui Bodoh

[Inn Between]

23 minutes ago, Samui Bodoh said:

Hi Inn Between

 

I am also a Canadian with a Non-Imm O-A Long Stay; I have done 2 of them through the Vancouver Consulate.

 

Feel free to PM me with any questions if/as needed.

 

And yes, ignore the idiots without manners.

 

Cheers

 

PS In order to meet the finance requirement for the O-A, I simply got a one sentence letter (with letterhead) from my stockbroker which read something like;

 

'Mr XXX has an account with stockbroker firm XXX and has XXX of dollars on account. 

 

That was accepted by the consulate.

 

 

Thank you so much for the info and the offer. That makes things very simple.  

Have a good one.

[Inn Between]

26 minutes ago, wotsdermatter said:

A while back, I posted complete instructions on how to obtain a Non-immigrant O-A visa from the Thai Embassy in Ottawa.  They do not require proof of a bank account in Thailand but accept a letter from the bank stating you have CADxxx in your Canadian Bank account.  If you call (613) 722-4444 the staff there will tell you the requirements and also e-mail PDF documents or mail a complete set of documents to your home.  Rather a labourious procedure especially, as some of the documents must be notarised.  Required documents include medical cert, police clearance, bank statement, 3 copies of information, further information form (contains much the same material), and copy return plane ticket.  Forgot, you will have to include a CAD200.00 money order or bank draft,  Buy two registered envelopes from your local friendly post office and address both correctly (one to you and one from the embassy to you).  Include all documents and the return envelope.  Normal processing takes no more than a week which does not include mailing time.  You get a 1 year ME visa which can be extended for another year by leaving and re-entering the country just before the old visa expires.  Alternatively, use a courier service which is faster but may be more expensive.

 

There is a 90-day visa that is available but it is not ME.

 

'nuf sed.

Wow  Thanks.  Lots of info. 

 

Like I said, I assumed it was out there somewhere but searching this forum doesn't work well for me, either from in here or google with "thaivisa" attached. The google method works best, I find, BTW>. 

[Inn Between]

53 minutes ago, mok199 said:

Hi.yes many of these members seem to enjoy insulting other members , ''just gives you an idea of sad their lives must be''.As a Canuck now living in Thailand with a family I can tell you this , BKK Bank is the best with anything ''international'', check out their website and mabey they can help. but I am afraid you need to be in the Kingdom to physically open an account , a TVF member named ''ubonjoe'' is very educated on these matters ,look him up, I am retired and here for the long haul, and if I can help let me know through private message..

Thanks for the suggestion. I dealt mainly with SCB and BB when I lived there and much preferred BB. I had to deal with SCB because that's where my pay was deposited, but I grabbed chunks of money as it accumulated and took it elsewhere. SCB had a terrible service attitude, IMO.  

Edited March 24, 2019 by Inn Between

[SheungWan]

O-A and Non-Imm O visas obtained from home countries do not require any financial deposits in Thailand. 

[ubonjoe]

I have removed a couple of inflammatory posts.

You can use money in a Canadian bank or proof of income or the combination of the 2 to apply for the OA long stay visa.

Info on the embassy website. http://www.thaiembassy.ca/en/visiting-thailand/visas/types-visas-periods-stay-fees/non-immigrant-visa-temporary-residents

And the official consulate in Vancouver. http://www.thaiconsulatevancouver.ca/retirement-visa/

 

[Andrew Dwyer]

O-A and Non-Imm O visas obtained from home countries do not require any financial deposits in Thailand. 

Yes, the major benefits of an OA is that you can “ squeeze “ 2 years out of it and your financial requirements can be met with funds in your home country bank.
A great way to avoid the new financial requirements brought in March 1st.

Although, on the other hand, a fixed deposit account in Thailand will give you 1.5% interest whereas your home country bank may be less.

So, it’s a bit of a toss up, more interest in a Thai bank but leaving the majority of your Thai funds untouched ( which maybe important in emergency).

A situation I find myself in.

Do I open a FD account, put money in and forget about it or back to uk ( I visit regularly anyway ) and obtain another OA for 2 years peace of mind ??

[SheungWan]

3 minutes ago, Andrew Dwyer said:

Yes, the major benefits of an OA is that you can “ squeeze “ 2 years out of it and your financial requirements can be met with funds in your home country bank.
A great way to avoid the new financial requirements brought in March 1st.
Although, on the other hand, a fixed deposit account in Thailand will give you 1.5% interest whereas your home country bank may be less.
So, it’s a bit of a toss up, more interest in a Thai bank but leaving the majority of your Thai funds untouched ( which maybe important in emergency).
A situation I find myself in.
Do I open a FD account, put money in and forget about it or back to uk ( I visit regularly anyway ) and obtain another OA for 2 years peace of mind ??

My personal opinion is that if you can source your visa in the UK, you should do so without regard to judgment calls on investment considerations. Simpler and safer. Once that has been sorted out, if you wish to make any other savings in Thailand then do so, but keep the two things separate.

[Andrew Dwyer]

My personal opinion is that if you can source your visa in the UK, you should do so without regard to judgment calls on investment considerations. Simpler and safer. Once that has been sorted out, if you wish to make any other savings in Thailand then do so, but keep the two things separate.

Yes, that’s the way I’m thinking about going.

 

Obtaining an OA in the UK then putting that money into a 1 or 2 year investment bond , even low risk makes this financially a better option.

 

If there’s any future changes to the OA visa to prohibit this ( one poster on TVF states that on obtaining a repeat OA in France the funds have to be in a Thai bank !! ) then the Thai FD account is another option.

 

[Inn Between]

2 hours ago, Andrew Dwyer said:

Yes, the major benefits of an OA is that you can “ squeeze “ 2 years out of it and your financial requirements can be met with funds in your home country bank.
A great way to avoid the new financial requirements brought in March 1st.

Although, on the other hand, a fixed deposit account in Thailand will give you 1.5% interest whereas your home country bank may be less.

So, it’s a bit of a toss up, more interest in a Thai bank but leaving the majority of your Thai funds untouched ( which maybe important in emergency).

A situation I find myself in.

Do I open a FD account, put money in and forget about it or back to uk ( I visit regularly anyway ) and obtain another OA for 2 years peace of mind ??

I got the impression from another post that "squeezing" 2 years out of it was possible, so that's quite nice. Who couldn't like the idea of fewer trips to the IO along with the flexibility of where to keep one's money? 

 

 

 

[Langsuan Man]

23 hours ago, Inn Between said:

I got the impression from another post that "squeezing" 2 years out of it was possible, so that's quite nice. Who couldn't like the idea of fewer trips to the IO along with the flexibility of where to keep one's money? 

 

 

 

Who couldn't like the idea of fewer trips to the IO ....  probably someone who can't afford to fly to their home country to keep the O-A alive after the two years