Author Topic: Foreigners now need to keep 800k in Thai bank for three months AFTER retirement  (Read 800 times)

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Offline thaiga

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sorry guys cant upload the forms - is johny boy up to his old tricks restrictions

The requirements for a retirement extension according to the new police order are as follows:

 (1) Must have been granted a non-immigrant visa (Non-Im)

(2) Must be 50 years of age or over

(3)  Must have evidence of having income of no less than THB 65,000 or;

(4) At least 2 months prior to filing date, and at least 3 months after being granted permission, the alien must have fund deposited in a bank in Thailand of no less than THB 800,000. The alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,00 or;

(5) Must have and annual earning and fund deposited with a commercial bank in Thailand totalling of no less than THB 800,000 until the filing date. The said fund must remain in the account prior to and after the permission is granted and the alien can make a withdrawal under the same conditions as stated in (4).

full article thaivisa.com
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Online Taman Tun

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Hi Thaiga, thanks for the update.  At least there is now some clarity. 
If the old only could, if the young only knew.

Offline Roger

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Yes Thaiga thanks for that. I see there are also special arrangements in the Police Order for those who have been in Thailand on a Retirement Visa since 1998. It's getting complicated.
ATB

Offline Johnnie F.

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sorry guys cant upload the forms - is johny boy up to his old tricks restrictions

Don't know, why it didn't work when you tried! Should work!
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Offline thaiga

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you have to show the 800,000 is in the bank 3 months after your ext is granted also 400,000 must remain in the bank at all times.
will you be checked on your 90 days, will it be a bank letter or just an updated bank book with photo stat copy, as i'm sure they will want to check your bank balance hasn't fallen below 400,000 before they issue you a 90 day report stamp.

more paperwork. not a good time to bring that extra money in @ 40 to the pound, or maybe it is could get worse :-[

the only people this realy concerns are the ones without the legally required funds, bad guys make hard work for the good :cussing

Thaiga  :cheers
Anyone who goes to a psychiatrist should have his head examined.

Offline Johnnie F.

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will you be checked on your 90 days, will it be a bank letter or just an updated bank book with photo stat copy, as i'm sure they will want to check your bank balance hasn't fallen below 400,000 before they issue you a 90 day report stamp.

How could they check, if you're doing the 90-days-report online?
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Offline thaiga

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how much easier it would be for Immigration if they started up their own Bank or use the government bank just for this sort of thing, they would have all the details they need and the money could sit on a deposit account still earning a bit.

i think it will be the following year, on your next ext they will check that you have retained 400,000 minimum in your account, 3 months after the date for retaining 800,000.
Anyone who goes to a psychiatrist should have his head examined.

Offline Johnnie F.

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The German and Austrian embassies and consulates etc. are still doing the certificates. Things are much easier that way! And people from those countries don't need to have it done by the consulate of their own country, can go to that of another EU-Country.

Wouldn't it be much easier, if the UK had the Euro as currency, and the certification could also be done by the consulate of one of the other European countries? ;)
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Offline thaiga

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i deposited 1 mil in bangkokbank in 2005 to cover my ext it's been there ever since earning a small but welcomed amount of dog beer (interest)
i use other accounts for my daily funds + atm from uk if i need.

i would never have come here if i didn't have the funds to support myself, i'm not having a pop at anyone, live your life how you think fit, but when i see expats building homes (to put in a thai name) buying new cars, supporting their thai family, but not having the funds for the most important thing, their visa/ext i fail to understand. as posted by t/t don't rely on your pension, weve seen how embassys perform.

do i have a valid point.

smite thaiga i say  :lol
Anyone who goes to a psychiatrist should have his head examined.

Offline Johnnie F.

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i deposited 1 mil in bangkokbank in 2005 to cover my ext it's been there ever since earning a small but welcomed amount of dog beer (interest)

Wow, you can resist the persuasion of your wife and her relatives to use those funds for "something better" than letting it rot in a bank account at an interest well below the inflation rate! :evilgrin
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Offline Johnnie F.

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i would never have come here if i didn't have the funds to support myself, i'm not having a pop at anyone, live your life how you think fit, but when i see expats building homes (to put in a thai name) buying new cars, supporting their thai family, but not having the funds for the most important thing, their visa/ext i fail to understand. as posted by t/t don't rely on your pension, weve seen how embassys perform.

Many expats I know went even further, breaking all bridges to back home, not thinking about someday the necessity might arise to move back. It's hard not to 'walk on knife's edge', taking care of and maintaining for every eventuality before that step to move here for a retirement.

For example I still have a condo and house in Germany. They bring me some rent every month. If I need to move back to Germany I can cancel the rent of a place for my own need. And I have some nieces and grandnieces I keep contact with over Facebook and Skype. They can and will help me when help is needed. Later they might inherit that condo and house.

Thailand is very far from home. For many it might be better to go as far as Spain, Bulgaria, Hungary, Romania etc. only, which are not so very different from your home country in Europe, but still affordable.
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Offline Johnnie F.

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you have to show the 800,000 is in the bank 3 months after your ext is granted also 400,000 must remain in the bank at all times.
will you be checked on your 90 days, will it be a bank letter or just an updated bank book with photo stat copy, as i'm sure they will want to check your bank balance hasn't fallen below 400,000 before they issue you a 90 day report stamp.

If you don't update your bank book regularly, the bank will put a "combine" in your bank book, that is the sums of all deposits and all withdrawals in the time range since the last update, no balance at single transactions will be shown. If you need to know and show all the transactions with the resulting balances, you got to go to your bank and have them print out the combine on a separate sheet. More running around!
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Online KiwiCanadian

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Talking about having the money in the bank.
I got my non Imm "O" changed to a non Imm "O-A" on the 15th of last month.
I had all the paper work that the officer had said I needed, the bank book was useless (Kasikorn Bank) as it skips some transactions so we got a statement instead (I did take my bank books  with me though), The only thing the officer complained about was the statement was dated the previous day, She wanted it dated the same day. I don't think the bank will change that. (We went to the bank in the mall as soon as it opened got the letter & statement then straight to Imm Korat).

Does any one know if other banks do this or would be able to have a statement dated the same day?
I am thinking of switching banks if I can find one that is able to comply with Imm' wishes.

KC

Offline Roger

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I think that Officer was being difficult as IME ImmiG usually accept the document if it is dated the previous day. However I usually try to get to the Bank at opening time for the Statement and then direct to ImmiG.

Most banks update the book in summary these days so a statement copy is needed. For B65K pm qualifiers, that'll be a statement covering 12 months I suppose. Fun and games  :spin

Offline Johnnie F.

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I got my non Imm "O" changed to a non Imm "O-A" on the 15th of last month.

That's interesting, KC! But couldn't it be, that you got a 1-year extension to your "Non-O"? To my knowledge the "Non-O-A" gets issued only by the Thai embassies and very few consulates general abroad and is basically a "Non-O" with an already approved 1 year period of stay instead of the 90 days of a "Non-O", when entering Thailand. Also you don't need a re-entry permit when leaving and re-entering Thailand within this visa's 1 year validity, as it is always for multiple entries; and at each entry you'll get a 1 year stay permit again, so you can stay here for almost two years (with one re-entry like a border run), before you need to extend it at the Immigration Office like the "Non-O". Before issuing that Non-O-A" the Thai embassy in your home country will also check that you have the funds to stay in Thailand for 1 year, but they don't ask for a certification by your country's embassy or your bank in Thailand; they'll be happy with the original documents about your pension.

So for some it might be better now visiting their home country once every 2 years and making a border run before that 1 year visa validity of the "Non-Immigrant O-A" has run out than going through the hassle with their embassies in Thailand or Thai banks and Immigration Office.

I had all the paper work that the officer had said I needed, the bank book was useless (Kasikorn Bank) as it skips some transactions so we got a statement instead (I did take my bank books  with me though), The only thing the officer complained about was the statement was dated the previous day, She wanted it dated the same day. I don't think the bank will change that. (We went to the bank in the mall as soon as it opened got the letter & statement then straight to Imm Korat).

To my knowledge they always ask for (copies of every page of) the bankbook and the statement by the bank. They check that the balances match etc. Therefore not only the bank statement needs to be very recent, also the bank book has to be updated recently and match the balance given on the statement. If they're not matching and not at least one of them is of a very recent date, they might have doubts.
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Offline thaiga

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The letter from the bank has always been accepted the following day by me. according to some it has a 3 day life or did have. some good points in the link, of course it could change as we know

thethailandlife.com/the-thailand-retirement-visa-guide

money must be in the bank for at least 2 months before your visa application. For consecutive visas (so the second and third year) the money has to be in the bank 3 months before you apply for the visa

you can renew your visa up to 45 days before it expires
Anyone who goes to a psychiatrist should have his head examined.

Offline Roger

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Hello Thaiga. Re. the 2 months before filing, changing to 3 months on subsequent filings - that certainly wasn't in that last Police Order you posted and it's suggested elsewhere that the 'thailandlife' report was written before the last PO. Time will tell I guess  :)

So its B800K 2 months before 'extension' and 3 months after, then B400K for 7 months then back to B800K for 2 months before next 'extension'. Or is it ?   ;)

Johnnie F - 'Income Letters' will still be provided by Norway too in addition to Germany and Austria.

This one will run and run  :(   Thanks for all the help . . .

Offline thaiga

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Hi roger, i thought the order is from 1st march effective - were not there yet :rclxs0
Anyone who goes to a psychiatrist should have his head examined.

Offline thaiga

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if your in chang mai immigration knows your birthday and if it falls on the day of a visa extension you can expect an announcement over the loudspeaker. The ladies will do the rest with singing happy birthday and a cake.   https://www.sanook.com/news/7665426/
Anyone who goes to a psychiatrist should have his head examined.

Online KiwiCanadian

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That's interesting, KC! But couldn't it be, that you got a 1-year extension to your "Non-O"? To my knowledge the "Non-O-A" gets issued only by the Thai embassies and very few consulates general abroad and is basically a "Non-O" with an already approved 1 year period of stay instead of the 90 days of a "Non-O", when entering Thailand. Also you don't need a re-entry permit when leaving and re-entering Thailand within this visa's 1 year validity, as it is always for multiple entries; and at each entry you'll get a 1 year stay permit again, so you can stay here for almost two years (with one re-entry like a border run), before you need to extend it at the Immigration Office like the "Non-O". Before issuing that Non-O-A" the Thai embassy in your home country will also check that you have the funds to stay in Thailand for 1 year, but they don't ask for a certification by your country's embassy or your bank in Thailand; they'll be happy with the original documents about your pension.
Johnnie,

Not long after we arrived back in Thailand (November last year) I went to Imm to check out what THEY wanted to be able to change from a tourist visa to a Non Imm' O-A, (a long story of why I did it this way), Imm advised me to do the border run in Vientiane and get a Non, O based on Family, (yes I am married to a wonderful Thai Lady). Got that and was told to come back on the 15th of January and get the Non O changed to a Non Imm O-A retirement, its stamped in my passport, done here @ Imm Korat. It has been posted on the net about the procedure but the info was a couple of years old, so that's why I went to Imm and asked them what THEY wanted.

KC

Offline Johnnie F.

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There is info about the Non-O-A:

http://www.mfa.go.th/main/en/services/4908/15385-Non-Immigrant-Visa-%22O-A%22-(Long-Stay).html

Medical certificate is no problem to get in Thailand, but a letter of verification issued from the country of his or her nationality or residence stating that the applicant has no criminal record you got to bring along.

The big difference seem to me the multiple entries (for 1 year), but it costs 5,000 instead of just 1,900 Baht. Worth it?
No matter how tall the mountain is, it cannot block the sun. - Chinese Proverb

Online KiwiCanadian

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Johnnie,

I got my initial info from this web site, http://www.donslifeinthailand.com/VISA-Information-Thailand.html
But knowing each district office was diferent I went to the Korat office to determine, A is it possible? B if not I did have a plan "B" as a backup.

I did not need a medical certificate and no criminal record Plus I had my other 2 passports with all my original visa info from when I lived here before leaving Thailand.

KC

Online Taman Tun

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Yes, it all seems to depend on the local office.  I got my work visa from the main immigration in Bangkok and needed both a medical and a Criminal check. 
If the old only could, if the young only knew.

Offline Kev

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Just out of curiosity what happens if a bank goes bust and your $800K disappears somewhere into the coffers?

Online KiwiCanadian

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Just out of curiosity what happens if a bank goes bust and your $800K disappears somewhere into the coffers?

If that was my bank i would be down to Imm ASAP and ask them HOW TO DO? WHAT DO YOU NEED? YOU ARE THE POLICE, THEY STOLE MY MONEY.

Just my $0.02 worth
KC

Online Taman Tun

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If the old only could, if the young only knew.

Offline Not A Buffalo

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Just out of curiosity what happens if a bank goes bust and your $800K disappears somewhere into the coffers?

My wife tells me all Thai Banks have a guarantee scheme up to 1 Million Baht ( Government run? not sure )
 
This is why we have always split our money over at least 3 Thai Banks....   Always keeping a balance below 1 Million Baht per bank.