@ Retirement Visa in Thailand
What you need to know about the “Thai Retirement Visa”
A retirement visa as it is commonly known doesn’t really exist. Instead it is actually a non immigrant O visa that is extended for 1 year on the basis of retirement. That said, it is normally referred to as a retirement visa so for this explanation that is what we will call it!
Retirement Visa Requirements :
1.To be eligible for a retirement visa you must be 50 years old. If you are under 50 there are other visa options available.
2.You will need to have income of over 800,000 year or 800,000 in a Thai Bank or a combination of both. So for example, I have a year Pension of 400,000 Baht and I keep 400,000 in a Thai bank account. If you receive an income or pension, this has to be verified by your consulate. To do this you either go in person or send by post the relevant documents showing your income and they will give you a stamped document for immigration. Immigration will keep the original of this document so you need to make a new one every year. The reason being pensions and increase and income can change.
- Funds deposited in a Thai bank.
- For a first time application, you must show 800K deposited in a Thai bank for 2 months prior to the date of application, then 3 months after being granted permission.
- You can then withdraw up to 400K, however you must leave a remaining balance of 400K throughout the year. For these first time applications you will also need to show proof of where the money came from.
- For the second year, you must prove 800K deposited in a Thai bank for 3 months prior to the date of application, then 3 months after being granted permission. You can then withdraw up to 400K, but must leave a remaining balance of 400K throughout the year. The change here relates to holding the money for 3 months after.
For any questions about obtaining a Retirement Visa in Thailand, or renewing your Retirement Visa in Thailand please feel free to contact us.