By Thai Visa
The new requirements are reportedly aimed at ending the practice of visa agents falsifying bank statements for foreigners who do not have enough money to meet the financial demands for a retirement visa extension.
The online news site said that from March 1, 2019, foreigners who apply for a retirement extension will need to keep Bt800,000 in the bank for three months after the extension and Bt400,000 in the bank thereafter.
It was previously acceptable for foreigners to only show Bt800,000 in the bank at the time of application, with no time limit.
Foreigners must still be able to show Bt800,000 baht in a Thai bank two months before the application for the retirement extension.
According to the new police order, the requirements are:
1. Applicants must have been granted a non-immigrant visa (Non-Im)
2. Applicants must be 50 years of age or over
3. Applicants must have evidence of having income of no less than Bt65,000 or;
4. At least 2 months prior to filing date, and at least 3 months after being granted permission, the alien must have funds deposited in a bank in Thailand of no less than Bt800,000. The alien can withdraw the funds three months after being granted permission and the remaining balance must be no less than Bt400,000 or;
5. Must have and annual earning and fund deposited with a commercial bank in Thailand totalling no less than Bt800,000 until the filing date. The said fund must remain in the account prior to and after the permission is granted and the alien can make a withdrawal under the same conditions as stated in (4).
The new requirements to keep Bt400,000 in the bank for three months after the retirement visa is granted is effective from March 1, 2019.
In October 2018, the then newly appointed immigration chief Surachate Hakpan vowed to crack down on visa agents who falsify documents for foreigners applying for visas and extensions of stay.
The news comes after Fabulous 103 FM in Pattaya earlier reported that Thai immigration was considering introducing a requirement to force some retirees to show a bank statement with Bt800,000 balance every three months.
This is the order in Thai on the Thai Immigration website:https://www.immigration.go.th/read…