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Exchange Rate Issues & Thai Tourist Visa Applications

Transcript of the above video:

As the title of this video suggests, we are discussing the Thai Tourist Visa. We are discussing it specifically in the context with the current requirement that one show a half a million or 500,000 Baht in a Thai bank account. This requirement is now in place. We are hoping it is temporary, but this is what we have to work with right now in the aftermath of the COVID-19 response and basically where does that leave us with respect to exchange rate issues? 

I have had clients contact us and say "look I can meet the requirement in my home country's currency but I don't have it in Thai Baht". Again there are different ways of proving this up. You can prove it up either through funds in a Thai bank account or funds in a home country bank account but it has to hit 500,000 Baht. We have had people contact us and say "Well according to today's exchange rate it is this, it is 500,000 Baht." Well that may not necessarily apply. The Embassy is somewhat arbitrary but they have to set an amount. They are setting certain numbers in host country currencies. For example the United States, I believe it is currently $17,000 in a US bank account will fit the bill for meeting the financial requirement for a Thai Tourist Visa. Different countries are going to have different set amounts that are just going to be viewed as the equivalent for visa application purposes of a half a million Baht and it is going to vary from country to country. Looking at it from the standpoint of "oh today at this exchange rate I have the money", that may not fit the bill. 

So the thing to understand and the thing to take away from this video, this will vary country to country depending on the local currency exchange rate to the Thai Baht but it is going to be set by the Embassy or the mission in that country.