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Proof of Funds - Pension versus Retirement Investments


Curator
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How much of a problem will I have trying to get a Non-O visa with investments rather than a pension?  I'll have a little over $300,000 USD in various Schwab accounts earning almost $2,000 a month in dividends.  My actual pension doesn't kick in until August 2023, but it's rather small around $1,700 a month after taxes.

I don't get why Thai's are so hung up on proof of funds coming from a "pension", when the use of them have been declining for decades.  Most Americans will have retirement money in all kinds of tax deferred accounts such as 401k, or an IRA. 

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The requirement is only $700. I'm sure you could put that much into a bank account.

"2.5 Copy of recent bank statement ($700 per person and $1,500 per family)."

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31 minutes ago, Goolabert said:

The requirement is only $700. I'm sure you could put that much into a bank account.

"2.5 Copy of recent bank statement ($700 per person and $1,500 per family)."

What is this you speak of?  Source?  As far as I know, it's 65,000 Baht a month from a "pension", or 800,000 Baht lump sum deposited in a Thai bank account.

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5 hours ago, Curator said:

How much of a problem will I have trying to get a Non-O visa with investments rather than a pension?  I'll have a little over $300,000 USD in various Schwab accounts earning almost $2,000 a month in dividends.  My actual pension doesn't kick in until August 2023, but it's rather small around $1,700 a month after taxes.

I don't get why Thai's are so hung up on proof of funds coming from a "pension", when the use of them have been declining for decades.  Most Americans will have retirement money in all kinds of tax deferred accounts such as 401k, or an IRA. 

Some "agents" who do your visa will help with the "bank details" for a fee...

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1 hour ago, Curator said:

What is this you speak of?  Source?  As far as I know, it's 65,000 Baht a month from a "pension", or 800,000 Baht lump sum deposited in a Thai bank account.

My reply is the requirement to get a Non-O issued in the US by the Thai Embassy. Source is the Thai Embassy  website.

Your info is the requirement for getting a one year extension of stay from immigration in Thailand. Or converting an entry to a Non-O prior to the extension of stay.

If you want to apply for a Non-O in Thailand it's same requirement as for the extension. The 65k Baht per month requirement does not have to be from a pension, but it does have to be transferred every month into Thailand. The money can come from any source whether wages, pension or investments. Money in US accounts of any type cannot be used for the 800k in the bank method, must be in a Thai bank.

And as also pointed out, if you don't have the money an agent can get you a Non-O and one year extension from immigration using brown envelopes.

Edit: just noticed that the post is from the OP so it seems clear that it is regarding getting the Non-O and Extension in Thailand.

Edited by Goolabert
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 I was under the impression you applied for a Non-OA visa while still in your home country.  You can apply for a Non-O visa once you get to Thailand.   So you are saying I can apply for a Non-O while still in the USA, and it only has the requirement of showing $700 in a bank account? I've never heard of this.  I'd always assumed the 65,000 Baht per month was always a requirement.

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29 minutes ago, Curator said:

 I was under the impression you applied for a Non-OA visa while still in your home country.  You can apply for a Non-O visa once you get to Thailand.   So you are saying I can apply for a Non-O while still in the USA, and it only has the requirement of showing $700 in a bank account? I've never heard of this.  I'd always assumed the 65,000 Baht per month was always a requirement.

Yes, you can apply for a single entry Non-O (90 day entry) while in the US if you are over 50 (I'm not sure if the insurance amounts are correct). Then you could apply for a one year extension of stay. The one year extension is commonly referred to as a "Retirement Visa"

You can Also apply for a Non-OA while in the US and get a one year entry. The Non-OA is a multiple entry visa and when your permission to stay is about to expire you would then apply for a one year extension of stay each year.

You can also enter Thailand on a visa exempt entry or tourist visa, then apply to for a Non-O and one year extension.

The 65k Baht/month or 800k in the bank is for doing the one year extension and you also need this if getting the initial Non-O in Thailand and not in the US.

There are multiple ways to basically accomplish the same thing and it can get confusing if it is your first time going the retirement route.

 

This is from the Thai Embassy Washington DC website:

https://thaiembdc.org/2020/11/17/nonoretirement/

 

Procedures for Non-Thai nationals who wish to obtain
a Non-Immigrant Category O (retirement)

2. Required documents to upload in the system

2.1 Passport

2.2 Two passport-size photographs (2″x 2″)

2.3 Declaration form (download from the E-visa website, see page 32 in the Manual here) with a signature of the applicant (E-signature accepted).

2.4 Proof of flight confirmation/reservation, indicating the trip from US to Thailand.

2.5 Copy of recent bank statement ($700 per person and $1,500 per family).  The name of the applicant must be indicated clearly), In case of submitting a family bank statement, proof of relationship (i.e. birth certificate, marriage certificate) must be provided.

2.6 Applicant must be medically insured for the entire period of stay in Thailand with the following coverage:
– Outpatient benefit with a sum insured of not less than 40,000 THB, and
– Inpatient benefit with a sum insured of not less than  400,000 THB

The applicants must submit the following:

  • Health insurance policy document issued by a Thai or foreign insurance company, stating that the applicant is medically insured for the period and with coverage as mentioned above:
    (a) In case of a foreign insurance company, the applicant must submit the original insurance policy document with 2 copies;
    (b) In case of a Thai insurance company, the applicant must submit 2 copies of the insurance policy document or, if available, the original insurance policy document with 2 copies. A list of Thai insurance companies participating in the scheme can be found here: http://longstay.tgia.org
  • Foreign Insurance Certificate as stipulated by the Office of Insurance Commission and Health Insurance of Thailand, which must be completed, signed and stamped by the insurance company. The form can be downloaded here: Foreign Insurance Certificate Form

 

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