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These are the Thai retirement visa new rules for Thailand in 2021. Recently, foreigners have voiced their concern regarding the changes in the requirements for the application of the Thai Retirement Visa. This especially the financial requirement to be able to stay in the Kingdom. Several Embassies last year started imposing policies that they would no longer be issuing the Proof of Income Statement for Visa applications in Thailand.
Foreigners now need to keep 800,000 Thai Baht in their Thai bank accounts for three months. This after their retirement extension is granted. The Thai Immigration Division has recently announced this major change regarding the financial requirements. This when applying for an extension of stay based on retirement. Foreigners who apply for an extension based on retirement using the 800,000 Thai Baht scheme should now keep that amount in the bank for three months. Again this after the extension, and 400,000 Thai Baht should be kept in the bank indefinitely after verification.
Applicant must have obtained 90 days Non-Immigrant Visa;
Applicant must be over 50 years old;
At least 60 days prior to filing for the extension, and 90 days after being granted, the foreigner should have 800,000 Thai Baht deposited in a Thai bank account. As a foreigner can withdraw the funds after three months from being granted the permission,. However the remaining balance should not be less than 400,000 Thai Baht;
The updated requirement of keeping 400,000 Thai Baht in the bank after being granted the visa. Again this has been activated as of March this year. In the past, there have been some illegal practices such as falsifying income for visas that have swarmed the Immigration Division.
The new Chief of Immigration has moved quickly to put an end to the trend of visa agents falsifying bank statements. This as expats who have come short of the financial requirements needed for the extension based on retirement. Always keep abreast with changes in Thailand such as the Thai retirement new rules.
See also: There is the TM30 requirements as well as the Thai immigration lawyer in Thailand.
If you looking at Thai visa rule changes for 2022 with the Covid situation, then nothing much has been changed from the rules of last year. These circumstances might change with regards to insurance coverage for the illness.
