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ResourcesVisa & Immigration LawThailand Immigration LawThai Retirement Visas: Update on Income Requirements

Thai Retirement Visas: Update on Income Requirements

Transcript of the above video:

As the title of this video suggests, we are discussing income requirements associated with the Thai Retirement Visa. 

I recently received the following comment on our channel. Quoting directly: "How come you never talk about the 65,000 a month option many of us do?" Well I do talk about it rather frequently. I have mentioned it. I was looking back on some of the videos. I have mentioned it offhand because frankly I often find that a lot of our clients just end up maintaining the bank balance as it turns out to be more straightforward to just do that. Yes there is an income requirement. We have made a number of videos on that especially regarding how the income comes in, the designation in Bank Books regarding income, pension, proving up pensions, etc. but yes it is possible so long as folks maintain a 65,000 Baht a month inbound income into a Thai Bank account, it is possible to maintain a Thai Retirement Visa using that methodology rather than using the 800,000 Baht bank balance which has to be maintained on a periodic basis in the Kingdom of Thailand in order to both obtain and renew a Retirement Visa.

Something to take away from this video is the two cannot be conflated. Merely having income and then having a bank balance that doesn't meet the 800,000 baht, you can’t have 45,000 Baht plus 400,000 in a bank and be able to meet the requirements by mixing the two. We have done videos on that before; that doesn't really work. The other thing that I have found is a lot of folks that try to use income, it can be really problematic depending on how the money comes in because the designation within the Bank Book if it doesn't come up as an FTT or whatever internal designation a bank uses for a Foreign Bank Wire Transfer, oftentimes that may be viewed as insufficient evidentiary proof of inbound foreign income necessary to maintain a Retirement Visa or at least extend a Retirement Visa. 

That being said, it is going to be driven by the facts so everyone's case is different. I wanted to make this video if nothing else to respond to the comment. Yes I am aware of the income requirement, I do talk about it and I hope that this video provides some more clarification on that, provides some more detail but yes there is an income method that can be used to meet the financial requirement for extending retiree status here in Thailand.