In this article you are going to learn what is the Thai Retirement Visa, the 2 different types of Retirement visa, the requirements, the application process and how to obtain it. Read this article carefully because there are many important details, such as financial requirements, restrictions and and different documents to provide.
Contents
What is the Thai Retirement Visa
If you are a foreigner over the age of 50 and you want to retire to Thailand, you can consider the Thai Retirement Visa. The Thai Retirement Visa is a long term visa, part of the Category “O” of the Non-immigrant Visa for Thailand.
This can be valid either for a single entry or multiple entries. You can obtain the Visa for 1 year up to 10 years. The visa is renewable every year and the renewal process can be done inside Thailand.
2 Types of Thailand Retirement Visas
There are 2 types of retirement visas for foreign nationals:
- The One-Year Thailand Retirement Visa (“O-A”), which is issued to foreigners aged 50+ of all countries and is valid for 1 year with the option to renew annually.
- The Ten-Year Thailand Retirement Visa (“O-X”), which is only issued to foreigners aged 50+ from certain countries (list of the countries later in the article) for 5 years duration. It is renewable once more for a maximum of 10 years.
In either case, a Retirement Visa for Thailand does not allow the holder to work.
Requirements
To apply for this visa you must be 50 years of age or older. You must meet at least one of the following:
- Have at least 800,000 Thai baht in a Thai Bank account which is in your name. This money must have been cleared in the account at least 2 months prior to making your application.
- Or, have a monthly income or pension of at least 65,000 Thai baht.
- Or, have an annual income, pension, and money in a Thai bank, which come to a combined total of at least 800,000 Thai Baht.
What you need to proof
To prove that you have sufficient funds in a Thai bank account you must provide the following documentation:
- Incase of Security deposit, an updated passbook/bank book which is in your name and from a recognized Thai bank. A letter from the bank clearly stating that at least 800,000 baht was deposited in your account from an overseas source, and has been cleared at least 2 months prior to the date of your retirement visa application.
- Incase of Income, provide a 12-month bank statement showing a regular monthly deposit of 65,000 Thai Baht into a Thai bank account and a certified bankletter by your Embassy in Thailand
While it is not common procedure, in some cases you may be required to provide the following:
- Police clearance
- Medical certificate
How to Obtain a Retirement Visa in Thailand:
The application for the Thai retirement visa can be processed either in your country of residency or in Thailand.
- Application for the Non-Immigrant OA Visa in your home country: All necessary documents stated above must be submitted to the Thai embassy or consulate in your country.
Please note that not all the Thai embassies or consulates in your country may be able to issue this type of visa.
Note: The application for the Non-Immigrant OA visa requires Police Clearance, Medical Certificate and Annual Health Insurance.
- Application for the Non-Immigrant O Visa and extension in Thailand: It is required that you apply for a 90-day initial non-immigrant visa from the Thai embassy or consulate in your home country prior to your application for a retirement visa in Thailand
You will have to wait for 60 days to be in Thailand before you can file your retirement visa application at the immigration office or you must be on the last 30 days of your current permit to stay.
Proof of address in Thailand (utility bills, rental agreement, etc.) is also required.
- Enter as a Tourist and Apply for the Non-Immigrant O Visa and Extension in Thailand: The foreigner on a visa exemption stamp or a tourist visa can still apply for a retirement visa given that the foreigner has already met the requirements for the non-immigrant O visa and for the one year extension visa applications. This can be done at the immigration office in Thailand.
Financial Requirements for a Retirement Visa:
Financial Requirements are as follows:
- Thai Bank Account showing THB 800,000 or
- Monthly income of at least THB 65,000 or
- Combination (Bank Account + Annual Income = THB 800,000)
Visa fee
The fee for the Thai Retirement Visa is 5,000 Baht for multiple entries.
Additional Information
SIGN-UP FOR THAI RETIREMENT VISA
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.
Health Insurance for the Thai Retirement Visa
Some new Retirement Visa rules for Thailand were brought in and now require that new applicants and those looking to renew their Retirement Visa for Thailand to have mandatory health insurance that will cover the duration of their stay in Thailand. The minimum level of cover required is no less than THB 40,000 outpatient treatment coverage and no less than THB 400,000 inpatient coverage.
Compare the best Thai Retirement Visa Health insurance prices here: https://bit.ly/3Sb0WAg
Although there was initially an amnesty for those looking to renew their Retirement Visa in Thailand, it is now something that is being more rigorously enforced. Health insurance can be obtained from local providers such as Pacific Cross, BUPA, or many major insurers.
However, this insurance may only be valid until the age of 70, with restrictions also in place regarding starting ages. Expatriate insurance designed specifically for expats often allows members to remain in the scheme regardless of age so long as they joined before a specified age, typically 75. Virtually all policies will NOT cover pre-existing conditions.
Compare the best Thai Retirement Visa Health insurance prices here: https://bit.ly/3Sb0WAg
10 Year Retirement Visa Thailand
The Non-Immigrant Visa – Retirement (O-X) is suitable for those aged 50 or over who wish to stay in Thailand (without working) long-term. The visa is effectively two five year visas and is only available to passport holders from the following countries: Japan, Australia, Denmark, Finland, France, Germany, Italy, Netherland, Norway, Sweden, Switzerland, United Kingdom, Canada and the United States.
The rules regarding applying for this visa are considerably stricter in terms of the financial requirements, but in all other ways, it is the same as with the standard Thai Retirement Visa. The 10 Year Retirement Visa for Thailand requires applicants to have a minimum of THB3 million in a Thai savings or fixed deposit account OR at least THB1.8 million in a Thai savings or fixed deposit account and an income of THB1.2 million or more per annum. A balance of THB1.5 million must be retained in the bank account for the duration of the visa.
Official website for the Thai Retirement Visa: https://bit.ly/3UgKVdB
You can also check out the following Visa alternatives:
Elite Visa: https://thailandmate.net/elitevisa/
Business Visa: https://thailandmate.net/business-visa/
Make sure you have an insurance if you come to Thailand.
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