If you are 50 years or older then you can retire in Thailand. The visa is called the “OA” Visa and this is the retirement visa. Noted today by the Bangkok Post on retirement in Thailand we note that more people are retiring in Thailand.
The number of one-year retirement visas has surged by more than 30 percent, according to a source at the Chonburi Immigration Bureau.The Immigration Bureau source added that there are many foreigners living in Thailand who use other visa opportunities, including marriage visas, educational visas and work permits.
Over the years many expats who worked in Thailand have reached the age of 50 and are now simply retiring in Thailand. This could also be another reason why there has been such a surge in retirement in 2013. The rules have also become much easier to understand than before. The following is what is needed when you wish to retire in Thailand.
Retirement Visa Requirements
- – You must be 50 years or older at the date of application;
- – You must show 800,000 Baht in a Thai bank account;
- – If you don’t have 800,000 Baht then you need to show an income of 60,000 Baht per month;
- – You can also combine the income and deposit requirements;
- – You should not have a transmittable disease;
- – You should not have a criminal record (DUI doesn’t really count);
Those are the basic if the retirement visa in Thailand. Over the years they have not listed DUI as a criminal offense but most retirement applications use a lawyer in Thailand to solve those minor issues. It does vary but most times they tend to overlook your DUI when you had been a teenager. If you are not certain about them, speak to a lawyer in Bangkok or Pattaya about this. You can also ask us online so we may understand where and how this occurred.
Once the visa has been issued you need to also get your household items in your home country into Thailand without having to pay customs duty. Normally the lawyers who did your application will manage this process for you as you are allowed to bring in your goods within 6 months of having your visa extension granted. speak to a lawyer about this when you are applying for retirement so they may organize a customs clearance form for you as well.
If you are buying a property in Thailand when you retire then again speak to your attorney about this as you can only own a condo unit freehold under certain circumstances. Owning a house is another issue and you might need to register a Thai company to hold the title deed for you as you are not normally allowed to own land in Thailand. There are a number of issues when it comes to homeownership in Thailand as a foreigner.
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