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  1. #1
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    What is the best way to bring in the 800.000 Baht for a retirement visa?

    With more and more visa restrictions and finally reached the age of 50 I give in and want to transfer money to Thailand to fulfill the 800.000 Baht account deposit requirement for a retirement visa. But I am worried a bit. Perhaps members here can help me with good information. What can I do wrong that I transfer the money and the immigration does not accept it? What is the best way to do it so that I could withdraw it at any time and take it out of Thailand again if I decide that a different country might be better for me? I had a bad experience with changing money to Philippine Peso when I lived there - it crashed after I changed to it. So how about having this 800.000 Baht requirement here in Thailand in a foreign currency? Does the Immigration accept this and what is the best way/best bank to do this? Some banks charge enormous fees for foreign currency accounts. On the other hand I have income what would fulfill the monthly income requirements. But it has nothing to do with the country of my passport. I left this country 30 years ago. So I am afraid my embassy is of little use to confirm this income. Is there any other way to confirm this based on documents so that the immigration will accept this? Then I could forget this 800.000 Baht requirement.

  2. #2
    Have you got any cheese Thetyim's Avatar
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    Difficult question to answer because it depends which immigration officier interviews you as they all interpret the rules differently.
    I suggest you ask them what proof of income they would find acceptable.
    I would guess that a letter from an accountant and evidence of your income being credited to your bank account would be a good start.
    Do you pay tax anywhere? A tax statement may be asked for.

  3. #3
    Have you got any cheese Thetyim's Avatar
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    If you decide to go the 800k route then bring your money into Thailand using swift. This will leave a paper trail that will enable you to move your money out again in the future if needed.
    An FC account should be easy to open. There are several types, make sure it is the type designated as being money from abroad. 3 month deposit rate for GBP is 3.9% at present.

    I know of one member here who chose this route and every year gets a statement from the bank showing his GDP account balance in Baht. Immigration accepts it.
    That does not mean that it will be accepted from you, just that it might be.

  4. #4
    ding ding ding
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    Quote Originally Posted by Thetyim
    I suggest you ask them what proof of income they would find acceptable
    Thats the best way forward.

  5. #5
    My kind of town
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    sent you a PM. Hope it applies!

  6. #6
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    maybe some one can answerer this. Is there a banking regulation that says over a certain amount I beleave over 18,000 dollars U S 30 % has to stay in the bank for one year.

    Where does Jonh Live Now??


    Is there a Thai bank branch in the country he resides in now. ( other than Thailand )

    Remember the money has to be in a thai bank 3 months before the Visa extension is requested..

    best of luck I think the Immigration office to deal with is the main one in Bangkok. They are friendly and will help you out.

    www.thai visa.com may have answerers to your questions. it is more of a Information web site.

    TD is more of a Bull session site.
    Don
    Lam Luk Ka Thailand. [SIGPIC][/SIGPIC]

  7. #7
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    What about cash? Is there any rule that says it has to be transferred to Thailand first?

  8. #8
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    I've never been asked by immigration where the money comes from or how it got here, they've always accepted (but TiT so caveat emptor!) the regular documentation without question. My only concern is a mention somewhere that the rules are again changing/changed and 800k has to be sitting in an account for more than 3 months.

  9. #9
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    You didn't say what country you are from and what embassy you will use, and I think that is very important as some of us do not know what other embassys do for your letter.

    The US embassy has never made mer show proof of anything, just put what you say on the letter and certify that it is your sig and that is what you said.
    And I have used 3 different Immigration offices and I find Chiang Mai the best to do business with.

    I damn sure wouldn't bring in any money if I could get away with it, might be the last time you ever see it.

  10. #10
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    Where do I live now - in Pattaya. Before I lived and worked in so many different countries in the world. But left my home country more then 20 years ago. I have been living here in Asia for more than 10 years (Philippines, Malaysia, Thailand) and for about 6 years in Pattaya. I am really worried about currency losses - just think of the Baht devaluation some years ago or the USD devaluation now. So I tend to keep my money in a reliable currency - whatever it might be. Just think what might happen with the Bath if the King dies. Perhaps nothing, perhaps a lot. I lost some money with the Philippine Peso and the USD - but now I do not want to repeat this experience anymore. So I have to stick to Euros since Europe is the only place in the world where I can live without a visa since I was born there. I have to be able to go back and live there with the currency value on my bank accounts in the worst case AT ANY time. Hard to imagine what the visa regulations or the price level or the currency level will be here in Thailand in about 10, 20 or even 30 years. A now good European pension might not even pay a rent for a basic room then...in the worst case. Asia will change a lot...not to our advantage I am afraid - perhaps we will have to move to Africa then ;-) On the other hand why not...

    In respect of the embassy I am worried to give my bank statements to them. I do not have to pay taxes in my home country. But it is always a bad idea to give a government organization more information than necessary.

    So perhaps the best idea for me would be to put the money here in a foreign currency account. But some banks have very high fees and I am not sure if the immigration accepts the foreign currency. Ask the immigration? I did. They just gave me a piece of paper outlining the requirements. They had no time to talk and answer questions. But recently I applied for an extension for a tourist visa and in this case they had a lot of time to talk about a flight ticket. So I am worried to spend a lot of money and effort to end up at the wrong time at the wrong immigration officer with the wrong documents. This is why I try to find out what can go wrong based on the experience of other members of this forum - knowing that the visa rules today have nothing to do with possible visa rules tomorrow - shaken by the daily mood of the officer anyway ;-)

    The bad thing is - since the Baht rose almost on a daily basis in respect to the USD I have almost the 800,000 Baht here. But this was done by cash and ATM withdrawals. There is no clear trace to money coming from outside... This MIGHT not be enough for the officer...ON THE DAY when I apply ;-) Then I would end up with 1,600,000 Baht here...

  11. #11
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    Ihave lived and worked in foreigh countrys most of my life, But I did it on an american passport, as you didn't say which passport you carry we can assume that you are on a Brit passport.

    So then it is the Brit embassy I take it, I do not know if you have to show proof of income with them or just fill out the papers as is done at the US embassy, I would not show my financial papers to anyone.

    Quote Originally Posted by John
    - knowing that the visa rules today have nothing to do with possible visa rules tomorrow - shaken by the daily mood of the officer anyway
    And the rules today have no bearing on what will be asked by any officer at the time of getting the visa or extension as they make them up as they go along anyway.

    Go in and tell them that you recieve 80K baht, what ever that is in euros or PS. and see if they will certify the letter for immigration for you, pay the fee and then you are set.

  12. #12
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    Put in an account in your home country, open account here, then transfer it. Fast, safe and no problems.

    skycop51

  13. #13
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    What is the best way to bring in the 800.000 Baht for a retirement visa?


    suitcase.

  14. #14
    Thailand Expat Texpat's Avatar
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    .25 satang coins in your jockstrap.

    Bank transfer from the States cost US$10.

  15. #15
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    There are officials..... ahem..... who will give you the lump sum, then transfer it out straight away, cost you about 10k bt, easy. ..... talk to me.

  16. #16
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    here in Phuket, they want to see 800,000 in the bank for three months and they have never asked me how it got there in the 6 years i did it. ( first 4 it was only in for one day and it has never been transfered in from anywhere but here)
    Then last year i changed to a living with my thai daughter, Only had to show 500,000 in the bank for 3 months even though the law does not mention any money needed. I have heard that if you are in Bangkok and want to go this way ( if u have a thai kid) that sunbelt will do it for you for about 7,000 baht...no money in Bank BUT u need be over 50 to apply.
    "I hate to advocate drugs, alcohol or insanity, but they've always worked for me" HST

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  17. #17
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    i have a quick question.

    I just joined and each time i post a note my location changes.

    Why is that??

  18. #18
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    Quote Originally Posted by Phuketrichard
    I have heard that if you are in Bangkok and want to go this way ( if u have a thai kid) that sunbelt will do it for you for about 7,000 baht...no money in Bank BUT u need be over 50 to apply.
    Apparently you don't need to use Sunbelt. The way to do it is well defined on Thai Visa forum. Look up Rule 17.7 (5)
    Don't worry about your location change, it happens for everyone. No problem.

  19. #19
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    Yea;
    I have read the rules and took them with me 4 months before i applied to change form a retirement extension to the kids one and they looked at the print out, ( in thai and english) and still told me 500,000 ( this is in Phuket)
    what ya going to do?? I am worried if i try and go the route on my own in Bangkok they will see my past extensions are from Phuket and tell me to go back. Also I still would need to place the money in the bank just in case. Otherwise i take the chance of a refusal. I Have seen posters in Thaivisa say they have been refused by sunblet says they can do, So
    7,000 baht is not mucy except i need to add air fares/hotels and extras to get it.

    Also i didn't need my child with me in Phuket yet bangkok "might "ask for them to be there. I have also heard that they ask to talk with your wife which i really dont understand as your wife has nothing to do with the extension. ( I dont have one anyway). TIT

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