Retiring to Thailand

Hi 👋
we are retiring to Thailand in May, we are a married 66 year old couple and want to know if the 800k is for both of us or do we need that amount each?
midge
-@midge6262

It's 800k each and no joint accounts.

Each person applying for a retirement (1 year) Visa require the 800K in a Thai bank account or proof of income ( pensions etc) each month.

Each person applying for a retirement (1 year) Visa require the 800K in a Thai bank account or proof of income ( pensions etc) each month.
-@CDNin HH

It's not a 1 year retirement visa, it's a 1 year extension. When in country, you're on a permission of stay, nothing else.

Yes, semantics....It is an extension based on retirement and the conditions of that as opposed to the marriage extension for example. Everyone simply refers to these as retirement visas or marriage visas.Regardless, you have the option of 800K or a combination of the deposit and proof of income, but for each applicant.This is the best place to get answers.https://thaievisa.go.th/

Yes, semantics....It is an extension based on retirement and the conditions of that as opposed to the marriage extension for example. Everyone simply refers to these as retirement visas or marriage visas.
Regardless, you have the option of 800K or a combination of the deposit and proof of income, but for each applicant.

This is the best place to get answers.
[link under review]
-@CDNin HH

People refers to it as visas because they don't know the difference between a visa and a permission of stay. Use the correct terminology.

@midge6262  Yes. You need this amount each person for first year and after second year your wife can follow your visa no need to show this amount again.

@midge6262 unfortunately, it is 800k THB per person. But you can use the money, as long as it's back during this time, and there's even flexibility on this depending on the particular revenue Department you'll be dealing with.

Unlike the us or Western Nations, the first steps of the bureaucracy of Thailand revenue Department is not centralized. Where you live will have its own revenue Department, and you can even get to know the people working there, depending on where you retire to.

There is some other flexibility. I'm an attorney in Thailand, if you have any questions, feel free to ask me at jmazzola@napabusinesssolutions.com

@midge6262  You would be expected to keep at least 400K each after processing your “retirement visas”. Technically each one of foreign couple supposed to hold at least 800K in individual bank account.

If you are not too keen to waste deposits of 800K each, get one person to obtain proper retirement visa for the 3 months probation and get the full one for 12 months. Once 1 of the couple gets through, nothing stops you from transferring the funds from one account into another and applying for the next person.

@CDNin HH Thanks for quick reply 👍

What country are you coming from is the first question that must be asked - there are 2 answers.

From Australia, and some other countries, you can get a 12 month Non- Immigrant O-A Visa for Retirement from your local Thai Embassy.  The 800K in a Thai bank is not in play then, but you need to prove incomes and assetsd and get approved health insurance and a few other things.  This gives you up to 12 months from the date of your entry, as long as you arrive before the Visa expires (usually 12 months from date of issue).  If you then leave Thailand after 11 months and then return before 12 months is up, then you get another 12 months Visa automatically - basically you get 2 years on an O-A Visa. After that you have to apply for a 12 month extension of your Permission to Stay in Thailand - that is when the 800K and some other things come into play.   

From some countries you cannot get a 12 month Non Immigrant 0-A Visa.  In this case you need to apply for whatever 3 month Visa you can get, and then when you arrive you apply for 12 months extension of your Permission to Stay convert to a non-immigrant O Visa for (reason of) Retirement. That is when the 800K and other things come into play.

Yes you both must have separate bank accounts in your own names.

I suggest you talk to you local Thai Embassy and ask what options are available to live X years in Thailand after retiring.