rickfarang Posted April 19, 2002 Report Share Posted April 19, 2002 I'm considering applying for the 1 year retiree's visa just offered in the last six months, now that they've lowered the age limit. The program calls for me to deposit the equivalent of 800,000 baht in a bank then transfer it to a Thai bank before the end of the fist year. The transfer is one condition for visa renewall. Here's what is not clear to me: If, for some reason, I decide not to renew the visa and want to take the money out Thailand, would I be able to do so? Has anybody found the answer to this (or even asked the question)? While on the subject, I've only noted deposit rates of 1% to 2% at Thai banks. This includes time deposits. Any suggestions? RickF. Link to comment Share on other sites More sharing options...
gene1944 Posted April 20, 2002 Report Share Posted April 20, 2002 It is my understanding that when you apply for a retirement visa, you must have a letter from the Thai bank stating that you have 800K baht on account there before you apply for the visa. It can be in a savings, checking, cd account. After you have the visa you can draw on the account (except CD) as you wish. I am sure the intent is to use it for living expenses or emergencies if they arise but dont think there is any thing to limit your taking the entire amount out as cash or re-wiring it back to the country of origin. Of course the following year, you would again have to show 800K in a Thai bank. According to the bank there are no problems to repatriate your money. But I have had no experience... You might check with immigration on Suan Plu as they are very helpful and speak good english to assist you. Link to comment Share on other sites More sharing options...
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