Retiring in Thailand as an expat
Thailand, with its rich culture, gastronomic foods, and lovely people, has a lot to offer, so it is easy to fall in love with the Land of Smiles. The Kingdom can be the best place for you to retire if you can meet the standard requirements and regulations for getting the retirement visa.
Below, we will explore the benefits of retiring in Thailand and the administrative requirements for organizing your stay.
Benefits of retiring in Thailand
The reason why so many tourists who come to Thailand become expatriates is because of the incredible standards of living. Consumer prices are reasonable, housing is cheap, and you will be able to afford luxuries that aren't available to you in the West. To retire comfortably in the Kingdom, though, you have to meet a few financial requirements. With US$25,000 in savings in a Thai bank or a retirement income of at least US$2,000 per month, a retired couple could live a simple but comfortable life.
Some choose to live in Bangkok because the area is safe, reasonable, and efficient. Some live in the north of Thailand, such as Chiang Mai, where life is quiet and peaceful. Others choose the South, where beautiful beaches in areas like Phuket and Koh Samui abound. Moreover, many like to enjoy the beauty of the sea but stay within a close distance of Bangkok, so they choose to retire in beach towns like Pattaya or Hua Hin. Whether you choose to live in the north, south, east, or west of the country, rest assured that everything will be worth it, given the quality of life that Thailand offers.
The process for retiring in Thailand
There are four steps to acquiring a visa to retire in Thailand.
Step one: Acquire a visa
Firstly, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. The financial requirements are:
- bank account with THB 800,000;
- or monthly income of at least THB 65,000;
- combination (bank account and income per year exceed THB 800,000).
Step two: Obtain a one-year retirement visa
The second step is to obtain a one-year retirement visa. You must be 50 or older to receive this and have a Thai bank book and a letter showing your account balance from your Thai bank. You will also need to provide photos and your passport.
Step three: Get a re-entry permit
Thirdly, you can opt to get a single or multiple-use re-entry permit, which will allow you to re-enter Thailand if you ever leave. If you leave the country while on a Non-Immigrant visa without a re-entry permit, you will lose your Non-Immigrant visa. If you don't plan on leaving Thailand, you don't have to apply for a re-entry permit.
Step four: Report to immigration every 90 days
Lastly, you must report to the local Thai Immigration office every 90 days to verify that you are still living at the address on file. You can do this in person, through the mail, or online through the 90-day check-in portal. Online 90-day check-in is the most convenient way of handling the process.
Good to know:
You may not be accepted on a retirement visa if you have any sort of criminal history.
Requirements for a Non-Immigrant Visa 'O-A' (Retirement)
To apply for a Non-Immigrant Visa 'O-A' (Retirement), the candidate must meet the following criteria:
- must be 50 years of age or over;
- passport (must have at least one year (18 months preferred) remaining until it expires;
- the holder of this type of visa is allowed to stay in Thailand for one year;
- holding the nationality or permanent residence of the country from which you are applying;
- proof of financial requirements;
- letter from the bank showing evidence of deposits;
- employment of any kind is strictly prohibited (including volunteer work).
Eligibility for Retirement Visa
To be eligible for a Retirement Visa, the following criteria need to be met:
- applicant must be aged 50 years and over (on the day of submitting the application);
- applicant is not prohibited from entering the Kingdom as provided by the Immigration Act B.E. 2522 (1979);
- applicant must have no criminal record in Thailand, the country of his/her nationality, or the country of his/her residence;
- not having prohibitive diseases (leprosy, tuberculosis, drug addiction, elephantiasis, third phase of syphilis) as indicated in the Ministerial Regulation No 14 B.E. 2535;
- you must have at least 18 months of validity on your current passport.
If you are thinking about retiring abroad, Thailand is worth considering. A substantial expat community already enjoys the country's natural beauty, bizarre cuisine, and beautiful climate, plus access to affordable health care and some of the lowest costs of living in the world.
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