Retire in Thailand
A step-by-step Guide
Thailand’s majestic landscape, formed by its rich foliage and scenic beaches make for a very relaxing and soothing environment one could live in forever. It’s not surprising that foreigners find themselves enchanted and wanting to spend their retirement days in this breathtaking piece of tropical paradise. If you are interested to do the same, applying for a retirement visa in Thailand would be the first step to take. Listed below are the requirements.
HOW TO OBTAIN A RETIREMENT VISA IN THAILAND:
STEP 1: OBTAIN A NON-IMMIGRANT VISA
- Passport (at least one year remaining before expiration)
- You must be holding nationality or permanent residence of the country of application
- Proof of Funds
STEP 2: OBTAIN A ONE-YEAR RETIREMENT VISA
- Must be 50 years old and above
- Passport (signed copies of each page)
- Non-Immigrant Visa
- Departure Card TM.6
- Proof of meeting Financial Requirements
- Thai Bank Book (original)
- Letter from your Thai Bank
- Three(3) 4×5 cm photos, with full face taken
STEP 3: BRING YOUR HOUSEHOLD ITEMS TO THAILAND
You will be given six months from your entry to Thailand to bring in your household items from your country. If your permit grants you to stay for a year, these items will not be taxed. Otherwise, they will be taxed at a rate of 20% for import duty and 7% value added tax.
However, the deadline can be flexible. If you expect your items to arrive past the six-month deadline, you may inform the Customs two months before the deadline to request for an extension.
Disclaimer: This is not applicable on shipments arriving in some ports especially in Bangkok.
STEP 4: OBTAINING A RE-ENTRY PERMIT
Most people misunderstand the different concepts of “Extension of Stay” and “Re-entry Permit”. Sometimes mistaken for each other, you must understand that these are two different things, both of which you would need during your stay.
The Extension of Stay is simply the controlling date. Everything else is dependent on this. Everything is invalidated when your Extension of Stay expires. On the other hand, the Re-entry Permit’s validity is subject to the validity of your Extension of Stay. However, leaving Thailand without a re-entry permit automatically invalidates your extension of stay.
STEP 5: REPORTING YOUR STAY EVERY 90 DAYS and VISA EXPIRATION
You are required to report to the Immigration Police every 90 days if you are on a long term extension of stay. Persons holding a multiple entry visa will simply depart Thailand and renew their extension of stay after each 90 day entry.
If you cannot obtain your extension inside Thailand, you will have to get a new non-immigrant visa from a Thai Embassy or Consulate abroad.
MEETING THE FINANCIAL REQUIREMENTS FOR A RETIREMENT VISA:
Financial Requirements are as follows:
- Bank Account showing THB 800,000
- Monthly income of at least THB 65,000
- Combination (Bank Account + Income x 12 = THB 800,000)
Your first and only appearance for the retirement visa will be at the Immigration office upon its approval. You must appear in person with your passport and sign the visa paperwork in the presence of the Immigration staff. The Immigrant staff puts a stamp in the passport at the time of approval.
RESTRICTIONS ON RETIREMENT VISA
The retirement once approved allows you to stay in Thailand for one year. You are not allowed to have employment while on this type of visa. Also you must report to Immigration every 90 days to verify your current address.
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