Retirement Visa new rules

[Brickbat]

I am changing my Thai visa requirements from having 800,000 thb in my Thai bank to get my last visa to now bringing in 65,000 thb each month from my overseas account to qualify for my next extension. 

just wondering if anyone knows , am I still required to keep 400,000 thb in my Thai bank right until I apply for my next extension next January? I do have Health Insurance covering me in Thailand ( I heard that was the reason for this new requirement of maintaining the 400,000 balance of the 800,000 in the bank account .) 

 

Thanks in advance. 

[ubonjoe]

I suggest you ask immigration. It should not be needed if you are transferring in the 65k baht every month.

Having insurance does not waive the 400k baht requirement.

[thainet]

1) Not to undercut you here @ubonjoe, but I believe he must keep the 400k, as it is tied to this existing extension, not the new one next year.

2) If you are only thinking now of bringing in 65k every month, then you will not make the criteria of 12 months by January.

3) You said you were transferring 65k from your own bank account, but there is a good probability you will be asked to show that this is pension money..this seems to be happening more often now.

4) Ditto on the health insurance requirement..nothing to do with a Retirement extension or 400k.

Hope that helps.

[jacko45k]

I would keep it if you can. We are all waiting to see if IOs really do check whether you maintained the requirements specified for your previous Retirement (money in the bank) Extensions post March 2019. 

As you are changing to income, yes it may not be verified, but we haven't seen much feedback here as to whether checks are being done, or not. 

The insurance requirement applies only to Retirement Extensions based on a Non-Imm-OA original POS. 

[DrJack54]

If it were me I would not only maintain the current 400 but also build it up to 800 two months prior to attending immigration. 

I realize that your switching to "income method" however your current permission of stay was granted on the basis of money in the bank. If you not follow those rules one could argue that your permission of stay was terminated and you need new non o

[ubonjoe]

9 hours ago, thainet said:

1) Not to undercut you here @ubonjoe, but I believe he must keep the 400k, as it is tied to this existing extension, not the new one next year.

2) If you are only thinking now of bringing in 65k every month, then you will not make the criteria of 12 months by January.

3) You said you were transferring 65k from your own bank account, but there is a good probability you will be asked to show that this is pension money..this seems to be happening more often now.

4) Ditto on the health insurance requirement..nothing to do with a Retirement extension or 400k.

Hope that helps.

1. The 400k baht is required to maintain you current extension. The question is does putting 65k baht into a Thai bank to meet the income requirement overrides that requirement.

2. He did mention thinking about it. I assume he is aware it has to be for 12 months and already has at least 3 months of transfers now.

3. There is no requirement to have money in the bank and the 65k baht. I doubt very much that immigration will deny a new extension if the 400k baht has not remained in the bank for the entire year if he proof of transfers for a year.

4. He was  was asking about insurance verses the 400k baht in the bank due to false info or assumptions that the 400k baht was tobe  kept for medical care.

[Brickbat]

Thanks again for the inputs.

i have been bringing in 65,000 thb plus each month from the Dec last year. I got my extension in Jan. 

Secondly ,not everyone in Australia over the age of 66 is allowed to receive a “ pension” . We are “means tested”. 
Many are not eligible for the old age pension. My cash is from income of investments.

 

it’s a big risk I suppose,  to use up the 400 K thb and chance upon getting an immigration officer that decides I had the temerity to challenge their laws. 

[Brickbat]

1 hour ago, DrJack54 said:

If it were me I would not only maintain the current 400 but also build it up to 800 two months prior to attending immigration. 

I realize that your switching to "income method" however your current permission of stay was granted on the basis of money in the bank. If you not follow those rules one could argue that your permission of stay was terminated and you need new non o

My agent told me

1- 400K had to remain until the next extension.

2- It’s either or. 800K rule or 65K income rule. Prior to this year, the two could even be combined.

3- I think with the worsening economic climate, immigration rules are relaxing as a flood of expats have already left Thailand. 

[DrJack54]

8 minutes ago, Brickbat said:

Thanks again for the inputs.

i have been bringing in 65,000 thb plus each month from the Dec last year. I got my extension in Jan. 

Secondly ,not everyone in Australia over the age of 66 is allowed to receive a “ pension” . We are “means tested”. 
Many are not eligible for the old age pension. My cash is from income of investments.

 

it’s a big risk I suppose,  to use up the 400 K thb and chance upon getting an immigration officer that decides I had the temerity to challenge their laws. 

Small point. UK and USA have different use for word PENSION.

Yes in Oz it means "old age pension". Money government hands out to people when they reach retirement age, if they qualify. 

Some immigration offices are fussy about the source of the income. Been threads where io has insisted on seeing some sort of social security provider etc.

I would suggest check with imm office and find out exactly what they require for income method. If it's just bank statements showing deposits per month and coming from overseas then all good.