Entering on O Visa - still need 800k Baht in Bank Account?

[rajs123]

Hello All.

I did some searching on this forum and the web for the answers that I am looking for but was not able to get the information that I was looking for. I was wondering if anyone followed the same process I intend to and if so, was wondering if you could please help with the questions.

If I enter Thailand on a O visa, will I still need to open a bank account and deposit the 800k Baht before applying for the 1 year extension? I know that the 800k Baht has to be in the account for a min of two months before the 1 year extension can be applied for. Is this requirement waived for people entering on a O visa?

I know that Maneerat can provide the services that I am looking for, but wanted to make sure that I understand the process correctly.

Thank you in advance for any assistance that you may provide.

[Ohyesuare]

https://www.immigration.go.th/en/?p=14714

[davidge]

1 hour ago, rajs123 said:

Hello All.

I did some searching on this forum and the web for the answers that I am looking for but was not able to get the information that I was looking for. I was wondering if anyone followed the same process I intend to and if so, was wondering if you could please help with the questions.

If I enter Thailand on a O visa, will I still need to open a bank account and deposit the 800k Baht before applying for the 1 year extension? I know that the 800k Baht has to be in the account for a min of two months before the 1 year extension can be applied for. Is this requirement waived for people entering on a O visa?

I know that Maneerat can provide the services that I am looking for, but wanted to make sure that I understand the process correctly.

Thank you in advance for any assistance that you may provide.

Yes, you do. 800k for 2 months before applying for the extension and for 3 months after. No less than 400k for the rest of the year. For future extensions it’s 3 months before and 3 months after, and 400k the other 6 months.

[geezerrb]

12 minutes ago, davidge said:

Yes, you do. 800k for 2 months before applying for the extension and for 3 months after. No less than 400k for the rest of the year. For future extensions it’s 3 months before and 3 months after, and 400k the other 6 months.

If the agent fee is still 25k baht you still get a better return over 12 months keeping cash in a UK account as the Thai interest rate is still pitiful, plus it is generally less painful than DIY?

[davidge]

9 minutes ago, geezerrb said:

If the agent fee is still 25k baht you still get a better return over 12 months keeping cash in a UK account as the Thai interest rate is still pitiful, plus it is generally less painful than DIY?

I was just outlining the rules if you intend to it yourself, or if you use an agent but still keep the required money in the account.

I agree, it is dead money and you get very little return from the Thai bank account, as opposed to 5%+ in the U.K. now if you shop around.

If you’re using an agent and get a Non O yourself before you g to Thailand then it’s 8000 baht if you have the money in bank and 12500 if you don’t - assuming you have a Bangkok Bank account already. Extra if you want a re-entry permit.

[geezerrb]

12 minutes ago, davidge said:

I was just outlining the rules if you intend to it yourself, or if you use an agent but still keep the required money in the account.

I agree, it is dead money and you get very little return from the Thai bank account, as opposed to 5%+ in the U.K. now if you shop around.

If you’re using an agent and get a Non O yourself before you g to Thailand then it’s 8000 baht if you have the money in bank and 12500 if you don’t - assuming you have a Bangkok Bank account already. Extra if you want a re-entry permit.

I appreciate you are trying to help but these days I seem to get confused easily, if i get a non-o before I go you say 12,500 if money not in which bank? I have a BBK account without currently 800k deposited but applying here in UK the RTE application seems to require proof of funds?

[Hamchang]

4 minutes ago, geezerrb said:

I appreciate you are trying to help but these days I seem to get confused easily, if i get a non-o before I go you say 12,500 if money not in which bank? I have a BBK account without currently 800k deposited but applying here in UK the RTE application seems to require proof of funds?

The money needs to be in the Thai account, not UK. Or you show an income.  

https://www.immigration.go.th/en/?p=14714#e9ae55b4e215256d0

[davidge]

27 minutes ago, geezerrb said:

I appreciate you are trying to help but these days I seem to get confused easily, if i get a non-o before I go you say 12,500 if money not in which bank? I have a BBK account without currently 800k deposited but applying here in UK the RTE application seems to require proof of funds?

2 separate things.

If in U.K. you need to show pension income OR £10k in a U.K. bank for 3 months to get a Non O from London Embassy.

Once you have the Non O you get 3 months when you enter Thailand and then get an Extension for 12 months. If you use an agent for the Extension they can get it immediately, you don’t have to wait until later in the 3 month stay.
They charge 12500 baht for that Extension if you DON’T have 800k in a Thai bank BUT you must have an account with Bangkok Bank as they’re the only one that work with agents on this.
If you have the 800k in any Thai bank account then they charge 8000 baht for the Extension.

 

If you enter on a Tourist Visa or on Visa Exempt then the agent will charge about 25k to get the Non O in Thailand and do the first Extension at the same time - so you’re covered for 15 months. 

[geezerrb]

50 minutes ago, davidge said:

2 separate things.

If in U.K. you need to show pension income OR £10k in a U.K. bank for 3 months to get a Non O from London Embassy.

Once you have the Non O you get 3 months when you enter Thailand and then get an Extension for 12 months. If you use an agent for the Extension they can get it immediately, you don’t have to wait until later in the 3 month stay.
They charge 12500 baht for that Extension if you DON’T have 800k in a Thai bank BUT you must have an account with Bangkok Bank as they’re the only one that work with agents on this.
If you have the 800k in any Thai bank account then they charge 8000 baht for the Extension.

 

If you enter on a Tourist Visa or on Visa Exempt then the agent will charge about 25k to get the Non O in Thailand and do the first Extension at the same time - so you’re covered for 15 months. 

Thank you Sir, you have the patience of a saint. Always helpful and informative in many threads, once I am in Pattaya it would be a great pleasure to buy you a drink(s).

[CamelToe]

Jsut a quick question,when you initially apply from your home country can the 800,000 baht equivalent be in your home countries bank,is that sufficient?

 

[davidge]

38 minutes ago, CamelToe said:

Jsut a quick question,when you initially apply from your home country can the 800,000 baht equivalent be in your home countries bank,is that sufficient?

 

You don’t need the 800k to apply for a Non O in your home country. You only need it for your annual Extensions in Thailand.

The Embassy in your country will have its own requirements for the initial visa. In the U.K. it’s proof of pension income or £10k for 3 months in a U.K. bank.

Edit: I just checked the Canberra Embassy website and it’s the equivalent of 20000 baht in an Australian bank for 6 months.
You do require health insurance for the initial visa but at the lower level of 400000 inpatient, 40000 outpatient. The O-A insurance is now much higher. As it’s a 90 day visa initially, you just need 3-months insurance. Most travel policies will be ok but check the coverage meets the amounts needed.

 

https://canberra.thaiembassy.org/retirement-visa-categories/