News Forum - Key info for those planning to retire in Thailand

[Thaiger]

If you are planning to retire in the beautiful and tropical country of Thailand, there are many places which will suit your interests. From up north in Chiang Mai where the air is cooler, to a tropical oasis in the southern islands, Thailand has it all. Of course, with all things, you will need to get sorted before you come and we are right here to help. Things to think about How much money will I need to retire in Thailand? For example, a retired couple should be able to live quite comfortably on £1,600 a month, but of course, […]

The story Key info for those planning to retire in Thailand as seen on Thaiger News.

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[Shade_Wilder]

If you are planning to retire in Thailand, you need...

... a good sense of humour.

[AlexPTY]

800K on your account and Prozac 

[NCC1701A]

"During the Covid pandemic, health insurance is now mandatory for all retirees who want to stay long-term." 

say what? 

[TukTuk]

Unfortunately, there is nothing new in this article that 99% of people don't already know.

[JamesE]

3 minutes ago, TukTuk said:

Unfortunately, there is nothing new in this article that 99% of people don't already know.

They're staying on brand.

[Freeduhdumb]

Sounds like a flowery walk in the park... can't wait to apply for my permanent residency... lol. 

Isn't it 1.2 million for the OA? LA and Australia websites indicate this... is this going to remain as the New Norm? And... the author gets the insurance requirement wrong. Only the OA requires insurance to obtain and maintain the OA VISA, only those seeking the Thai Pass to enter Thailand, irrespective of the VISA type, are required to obtain a temporary insurance policy corresponding to the length of initial stay of VISA only. 

Edited December 10, 2021 by Freeduhdumb
Grammar correction additional content.

[JamesR]

Thanks for the information, very useful.

I have a bit of a chicken and egg situation.

When I am in Thailand I use my Bangkok Bank account where I transfer money to it online from the UK bank.

I only have a Bangkok Bank paying in-book and can not get the facility for internet banking or mobile banking until I have the retirement visa as told to me by Bangkok bank.

The Thai embassy web site in the UK said it needs the following documents in order to process the application here.

"- A copy of bank statement showing a deposit of the amount equal to and not less than 800,000 Baht or an income certificate (an original copy) with a monthly income of not less than 65,000 Baht, or a deposit account plus a monthly income totalling not less than 800,000 Baht.

- In the case of submitting a bank statement, a letter of guarantee from the bank (an original copy) is required."

If I need a visa to be able to get statements and I need statements before I can get visa then I am in an infinite loop.

So I can transfer the 800k baht but I can not get proof of it.

Any suggestions please?

 

[HiuMak]

14 hours ago, Shade_Wilder said:

If you are planning to retire in Thailand, you need...

... a good sense of humour.

and have lots of patience

[Pinetree]

5 hours ago, JamesR said:

Thanks for the information, very useful.

I have a bit of a chicken and egg situation.

When I am in Thailand I use my Bangkok Bank account where I transfer money to it online from the UK bank.

I only have a Bangkok Bank paying in-book and can not get the facility for internet banking or mobile banking until I have the retirement visa as told to me by Bangkok bank.

The Thai embassy web site in the UK said it needs the following documents in order to process the application here.

"- A copy of bank statement showing a deposit of the amount equal to and not less than 800,000 Baht or an income certificate (an original copy) with a monthly income of not less than 65,000 Baht, or a deposit account plus a monthly income totalling not less than 800,000 Baht.

- In the case of submitting a bank statement, a letter of guarantee from the bank (an original copy) is required."

If I need a visa to be able to get statements and I need statements before I can get visa then I am in an infinite loop.

So I can transfer the 800k baht but I can not get proof of it.

Any suggestions please?

get an agent

[KaptainRob]

6 hours ago, JamesR said:

Thanks for the information, very useful.

I have a bit of a chicken and egg situation.

When I am in Thailand I use my Bangkok Bank account where I transfer money to it online from the UK bank.

I only have a Bangkok Bank paying in-book and can not get the facility for internet banking or mobile banking until I have the retirement visa as told to me by Bangkok bank.

The Thai embassy web site in the UK said it needs the following documents in order to process the application here.

"- A copy of bank statement showing a deposit of the amount equal to and not less than 800,000 Baht or an income certificate (an original copy) with a monthly income of not less than 65,000 Baht, or a deposit account plus a monthly income totalling not less than 800,000 Baht.

- In the case of submitting a bank statement, a letter of guarantee from the bank (an original copy) is required."

If I need a visa to be able to get statements and I need statements before I can get visa then I am in an infinite loop.

So I can transfer the 800k baht but I can not get proof of it.

Any suggestions please?

Pose your question in the Visa/Immi section OR direct to our resident expert, @Faz by PM. 

[JamesR]

1 hour ago, KaptainRob said:

Pose your question in the Visa/Immi section OR direct to our resident expert, @Faz by PM. 

Cheers, will do.

[Faz]

7 hours ago, Freeduhdumb said:

Isn't it 1.2 million for the OA? LA and Australia websites indicate this... is this going to remain as the New Norm? And... the author gets the insurance requirement wrong. Only the OA requires insurance to obtain and maintain the OA VISA, only those seeking the Thai Pass to enter Thailand, irrespective of the VISA type, are required to obtain a temporary insurance policy corresponding to the length of initial stay of VISA only. 

It is indeed written erroneously in parts.

For entry to Thailand currently everyone requires the $50,000 USD Medical Insurance.
The Health Insurance relates to applications for the Non O/O-A Visa applications at a Thai Embassy and for extensions of stay from a Non Imm O-A entry. It's 3M BHT for the Non O-A Visa application.

You also cannot apply for the Non O-A Visa at Immigration as the author suggests.

[gazmo16]

2 hours ago, Pinetree said:

get an agent

I'm not sure i would have trusted an agent with my 800k  and there is also their fees to pay on top .

If visiting Thailand and already using a bank  I would recommend using WISE or another transfer company and just putting it in while on a future visit (s) to ensure it arrives safely and when ready he can obtain the bank letter and 3 month pass book print outs then go down the 90 visa transferred to an Non O Visa to cut out the yearly health insurance requirement .

just my thoughts to reduce costs and save O-A renewal trips.

[Pinetree]

19 minutes ago, gazmo16 said:

I'm not sure i would have trusted an agent with my 800k  and there is also their fees to pay on top .

If visiting Thailand and already using a bank  I would recommend using WISE or another transfer company and just putting it in while on a future visit (s) to ensure it arrives safely and when ready he can obtain the bank letter and 3 month pass book print outs then go down the 90 visa transferred to an Non O Visa to cut out the yearly health insurance requirement .

just my thoughts to reduce costs and save O-A renewal trips.

4 years ago i would have agreed with you, but after finding a local well respected and legit agent here, my life has become hassle and concern free. Well worth whatever relatively small amount in cost. 

[Saltire]

From the article, pretty sure this is wrong advice

• Apply for the Non-Immigrant O-A retirement visa at the Immigration office in Thailand. This is a 1 year multiple-entry visa and you’ll need to renew it with an ‘Extension of Stay’ visa every year.

This visa is initially only available from your home country, NOT inside Thailand, and it will be extended by a year each time you enter, and if you don't leave you can extend by a year with the appropriate documents.

 

 

Edited December 11, 2021 by Saltire

[Faz]

20 minutes ago, Saltire said:

This visa is initially only available from your home country, NOT inside Thailand, and it will be extended by a year each time you enter, and if you don't leave you can extend by a year with the appropriate documents.

You can't extend a Visa.

[Saltire]

33 minutes ago, Faz said:

You can't extend a Visa.

I know.

 

 

[LoongFred]

Using social security idd works for me.

I'm American and get us social security. It's enough to satisfy the financial requirements for an non o based on retirement extention but a little short of our needs. However I have a Bank of America travel visa account that allows purchases without foreign transaction fees. I use it for big purchases and avoid transfer fees and exchange rate is at the time of transaction. 

In the past I'd make bank transfer at $45 a pop to meet the gap. Some merchants even prefer the visa payments.  If the merchant says the Visa charge is too high, I pull out my Kasikorn card and use it instead. 

My SS IDD is about B90 k / month so exceeds the B65 k requirement. Since the SS IDD, don't show as foreign transfers Kasikorn Bank gives me "credit advices" to prove the money can from foreign sources.

Great solution available for Americans.

[Easterneye]

Not sure that’s correct about having to have health insurance as a requirement .

I know of someone retired there now over 13 years and literally hasn’t a pot to piss in let alone buy any form of insurance and he renews his annual visa no problem , so I wouldn’t worry about that

[Shark]

Just now, Easterneye said:

Not sure that’s correct about having to have health insurance as a requirement .

I know of someone retired there now over 13 years and literally hasn’t a pot to piss in let alone buy any form of insurance and he renews his annual visa no problem , so I wouldn’t worry about that

depends on which visa and there is now still the option in country to change for a Non-O which has different requirements then the Non-OA the post talks about.

[riclag]

21 hours ago, NCC1701A said:

"During the Covid pandemic, health insurance is now mandatory for all retirees who want to stay long-term." 

say what? 

 

Good catch.

Misinformation or misleading .I wish the mods would proof read these articles.

Similar content  was found in another article a while back ,making it appear that all  retired  expats were required to have health ins,when it really was meant  for  OA  long stay visa holders.

[Faz]

22 minutes ago, riclag said:

Misinformation or misleading .I wish the mods would proof read these articles.

We have no control over the written articles by journalists employed by Thaiger News, only comment on them the same as you.

5 hours ago, Faz said:

It is indeed written erroneously in parts.

 

[gazmo16]

2 hours ago, Easterneye said:

Not sure that’s correct about having to have health insurance as a requirement .

I know of someone retired there now over 13 years and literally hasn’t a pot to piss in let alone buy any form of insurance and he renews his annual visa no problem , so I wouldn’t worry about that

Don't forget some are still here under the old rules which allowed those already here to continue under their agreed requirements.  The  potless gentleman may be an old timer who didn't need the insurance when it came in. 

[gazmo16]

6 hours ago, Pinetree said:

4 years ago i would have agreed with you, but after finding a local well respected and legit agent here, my life has become hassle and concern free. Well worth whatever relatively small amount in cost. 

Good to hear the agents have stopped fleecing the sheep. I looked at one to assist with a UK visa for my GF so we could holiday with my family but they wanted a fortune and me to do all the work.