Retirement Visa

[tartempion]

Dear Oz again,

 

Your seasoned aussie expat does not know what he talks about.

 

Retirement age here for yearly extension remains at 50.

 

Don't understand why you open 3 bank accounts, one with 800k will do, near zero interest on Thai bank accounts. I keep my interest bearing money outside Thailand.

 

A guaranteed letter from your embassy stating minimum monthly income of 65k will do, no need to show bank account at all (at least at Udon immigration office) You do need fresh brewed letter each year though.

[ozpharlap]

Don't understand why you open 3 bank accounts, one with 800k will do, near zero interest on Thai bank accounts.

I keep in 3 bank accounts in case one bank goes belly up, what with the current unrest and bombings, who is to ever know.

 

I have an older brother who had all of his savings in a Victorian credit society that went belly up, in Geelong, these things do happen.

 

I have just turned the 50, so, I am just starting the ball rolling now.

 

Another question, do you have to keep the money in there, or can you pull it in an out each year after you can show evidence of the funds?

 

[tartempion]

As things stand now you need a minimum balance of 800K in the bank for 2 months first time and 3 months on subsequent years to obtain extension.

Reason is some farangs borrowed the 800k from friends for a few days

2 months first time because Non-O visa valid 3 months, open bank account, money can not possibly be there for 3 months.

 

Note you will require bank letter showing account balance, some immigration offices require bank letter dated same day so if your 800K is spread over 3 banks, 5555555.

 

Know of people who were short 1k baht over last 90 days, had extension refused!

 

Some also require bank book showing same day balance, heard some people go ATM then go bank to get letter then go Immigration, shees.

 

Udon Immigration office opened a few months ago and I showed embassy letter, no bank account asked. At least something positive I have to report over the last 10 years dealing with immigration

 

Oh, I have account with Siam Commercial, when you know who is majority shareholder there, can not go bankrupt

[ozpharlap]

I got myself a Siam Commercial Bank account.

 

I first tried to get that one at the small bank opposite Asoke station. I was standing in line wen the bank teller (male) waived the guy behind me to come ahead in the line, without any statement as to why. The customer even felt awkward about it. I bit my lip and remained quiet. Finally got through but the branch manager there refused my request to open a bank account as I had no work permit. I argued I did not need one, 2 other banks had give me bank accounts (showed them) but she refused.

 

I argued that you did not need a work permit as you could bring money in from overseas and could deposit those monies into a bank account, she still refused me.

 

I went down to soi 11 and got one there in about 15 minutes. You have to persevere sometimes.

[BelgianBoy]

A small correction : the 800K per year is for single retirees, for married ones its only 400K per year.

 

BB

[ozpharlap]

But do both of the said couple have to be there and make applications, or just the one?

 

Does it also depend if you are married to a Thai or a non-Thai?

 

I intend to make this my singular retirement home and travel back to Oz to appease the missus every now and then

[BelgianBoy]

If married to a Thai, then 400K for the farang spouse.

And, as far as I know, if both farang, then each one 400K.....

 

BB

[Specialist]

[simie]

A small correction : the 800K per year is for single retirees, for married ones its only 400K per year.

 

BB

 

BB, the way I understand it is that the 400k a year for married applicants would be a Non Imm O with a year extention. So not strictly a retirement visa which is the Non Imm O-A. Which still requires the 800k whether married or not.

A small distinction perhaps but one that could be important for some people as I also understand you have to have a Non-Imm O-A or a work permit to register a vehicle in your own name.

Simie.

[cavanami]

No, I just renewed my "O" visa and there has never been any requirement for $$$ in the bank.

 

Yes, to own a vehicle you have to have an O-A visa and a letter from Immi so that you can own a vehicle. I say a letter from the Thai Immi as they will provide this to you free.