Foreigners who wish to apply for a Single Entry Tourist Visa (SETV) to Thailand are now required to provide 6 months worth of bank statements showing a bank balance of at least 500,000 THB.
The jaw dropping new financial requirement has been confirmed on the websites of several Thai embassies around the world, as well via emails to Thaivisa readers.
The SETV allows foreigners to stay in Thailand for up to 60 days from the date of arrival and is valid for 90 days from date of issue.
Previously, applicants for the SETV had to show proof they had a balance of at least 20,000 THB or 40,000 THB for families and sometimes, depending on the Thai Embassy or Consulate, this wasn’t asked for.
But now, applicants need to show a bank balance of 500,000 THB or equivalent.
If you are applying from the UK, the Thai Embassy in London now requires a balance of “£12,800 maintained throughout the past 6 months”, while the Thai Embassy in Washington requires “$17,000 or 500,000 baht each month for the last six month”.
And that’s not all.
Applicants also need to meet all the other requirements necessary for any non-Thai to return to Thailand currently such as, Certificate of Entry, declaration form, quarantine booking, Fit to Fly Certificate, COVID-19 negative test result and an insurance policy which provides a minimum of 100,000 USD coverage, including for COVID-19.
The new requirements for SETV echo the equally jaw dropping requirements for foreign property owners who wish to return to Thailand currently.
However, what isn’t clear is if the new financial requirements are temporary while Thailand continues to successfully battle the COVID-19 pandemic or if it will be permanent.
The SETV has been a popular way for many different types of tourists to enjoy an extended stay in Thailand.
However, it is particularly popular with young backpackers who use the 60 days to travel around Thailand before travelling elsewhere.
It remains to be seen how many young backpackers would be able to meet the new 500,000 THB financial requirements.
The new requirements as listed on the websites of the Thai Embassies in Helsinki, London and Washington can be found below: