A Lot of People are Struggling and facing Problems to Open a Bank Account in Thailand to be able to apply for a retirement visa. In this Article we will be explaining the Steps you need to go through to open a Bank account in Thailand for retirement visa.
There are 2 Main Things that you will need to be able to open a Bank account for retirement visa in Thailand,
Long Term Rental Contract in Thailand
The first Thing you will need is a Long Term Rental contract in Thailand for at least 6 months Duration. This rental can be divided into Several Contracts in Several Properties calculating altogether at Least 6 Months Duration in Total.
If you already Own a property in Thailand, you will not need the rental contract, However, you will need to show the paper proving the ownership of this Property under your name.
Bank Deposit or Minimum Income Proof
The Second thing you will need is Either a Bank Deposit, or a Minimum Monthly Income Proof, You will need to be able to do one of these 2 things.
The First one is the Bank Deposit which should be a Minimum of 800,000 THB. Beware that you need to Keep the receipt of how and from where this money have come from to Thailand (need to keep this record to avoid any problem at the immigration), for example a bank transfer, western Union or any other way.
If you bring the money in cash without any transactional proof, It will be Good to prepare the receipt of your withdrawal of this amount from your home country)
The Second One is to be able to Prove that you have a monthly income in your home Country with at Least 65,000 Thai baht.
You need to Get this paper first from your country and after receiving it, You will need to go to your country’s embassy in Thailand to approve and Certify this Paper. (At the meantime, Some embassies have Stopped certifying these kinds of papers and Issuing confirmation letters such as the US and the UK Embassies, however, Other Embassies can Still do for you)
What to do if your embassy cannot approve and Certify this Letter?
In case your embassy is not issuing The Certificate of approval to your Income Paper, You will then need to go to the ministry of foreign affairs section belonging to the consular department which can certify it for you.
Before Certifying this Paper by the Ministry of foreign affairs in Thailand, you will need to translate it to English First. (The Consular Office is Providing Translation service with extra charge from your language to English Language). Or you can translate it in a certified translation office if you prefer.
Usually this process takes one or two days to be all done, however it can take more or less depending on the situation and how busy the department is on the time of application.
After receiving the Approved Certificate, you Will be able to go to the bank to open the account and With this bank account you will be able to apply for the NON O Visa in Thailand and after that you can convert it to retirement visa,
You can Read our article about how to get a retirement visa in Thailand for more details about the Process Step by Step.