You can see here the retirement visa financial requirement. If you have reached the age of 50 and can meet the financial requirements of the retirement visa then you can apply for a Retirement Visa in Thailand. Note that when you apply for the retirement visa you need to be 50 years of age or older. In the years before Thai immigration would allow you to turn 50 during the visa process. This is now no longer allowed and you need to be 50 at the date of application and you also need to meet or exceed the financial requirements for the visa.
Thai immigration has set the financial requirements of the retirement visa for Thailand at 800,000 THB in a Thai bank account or an income of 65,000THB per month as the minimum financial requirement for the visa.
Over the years the rule has changed a number of times. At first, it was first that you only need to have the 800,000 THB in the account. You will also need to show this in a printout on your Thai bank book which they accept as proof. This was later changed to having it in the bank account for at least 3 months. If you do not have a bank account in Thailand. Then see the article on How to open a bank account in Thailand on this website. Without a Thai bank account, it would be impossible to retire in Thailand or to extend your retirement visa in-country.
If you do not have 800,000 THB in a lump sum in your Thai bank account then there is another option. You will then have to look at showing a monthly income. The monthly income needs to be at least 65,000THB and this can be done in a number of ways. Most times those who retire in Thailand obtain a monthly pension that meets or exceeds the 65,000 THB monthly requirement.
You will need to show this by way of a confirmation letter from your embassy in Bangkok. Your local embassy in Bangkok will have to provide you with a letter to confirm that you are receiving a pension to or over the 65,000 THB per month financial requirement. Again, you need to speak to an immigration lawyer about these options.
– The 800,000THB needs to be in a Thai bank account; and
– Proof that the money has been in the account for at least 3 months.
If you can’t meet either of these then you can also apply for a combination of the two options. You need to speak to a Thai lawyer about this. You can show a combination of a deposit in a Thai Bank account plus a monthly income. As an example, you could have an income of 35,000 THB per month and a deposit of 400,000THB or other combination. If you would like a free assessment then walk into our offices in Phuket or Bangkok for a confidential discussion about your options for retirement in Thailand. You can also call us toll-free from the US, UK, or Australia for assistance.
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The information contained on our website is for general information purposes only and does not constitute legal advice.