The terms remain unchanged from over a year ago, Lt Col Worapol Panpetch, Inspector at Phuket Immigration, confirmed today (Oct 20).
“The financial requirements for foreigners applying for a 12-month permit-to-stay on the basis that they are retired and staying here remain unchanged,” he said.
“The general rule is that the foreigner must have at least B800,000 in a Thai bank account, which cannot hold less than B400,000 throughout the year, or they must have a monthly income of at least B65,000,” Lt Col Worapol explained.
“However, there is the option for the foreigner only to prove that they have kept a minimum of B400,000 in a Thai bank account and have an income that brings the total to B800,000 a year,” he added.
The confirmation follows a retired expat living in Phuket reporting to The Phuket News that he arrived at the main Phuket Immigration Office in Phuket Town to file his application to renew his one-year permit-to-stay only to be told that he did not satisfy the financial requirements.
Further enquiries by the expat only led to more confusion, with him being told by some parties that some applicants needed to present a letter from their embassy while other nationals did not.
“No letter from an embassy is required to renew these ‘retirement’ permits-to-stay,” Lt Col Worapol confirmed today.
“No matter what anyone tells you,” he added.
“Nothing has changed,” he repeated.
“The balance in the bank account must be B800,000 for at least two months before the application to renew the permit-to-stay is filed and must remain in the account for at least three months after the application has been approved.
“And the option still allows foreigners to combine the bank balance and the monthly income as evidence of meeting the B800,000 per year minimum financial requirement,” Lt Col Worapol said.
“I am not sure who the foreigner involved spoke to, but obviously some people providing the information do not know all the details,” he said.
Lt Col Worapol urged foreigners who have heard otherwise to come directly to his office, Room No 103, at Phuket Immigration in Phuket Town.
“Applications for one-year permits-to-stay are processed by our officers in this room. Please come to see us to be sure of exactly what is accepted, and what is not,” he said.