Retirement Visa Requirements in Thailand
In Thailand, a Retirement Visa can be obtained on the condition that the applicant has reached the age of 50 or older and can also meet the financial requirements. In the past, the Thai immigration department allowed applicants to turn 50 years old in the course of the visa application process. These days however, it is mandatory for applicants to be 50 years old at the time of application.
In addition to that, it is mandatory for applicants to reach the required financial thresholds:
Option 1 – 800,000THB in a Thai bank account
Applicants must have an account with a Thai bank and the account balance should be at least 800,000THB.
Option 2 – 65, 000THB every month
Alternatively, to apply for a retirement visa, applicants must be able to prove that they are earning an income of not less than 65, 000THB every month.
The requirements have been changed quite a number of times in the past. Initially the only thing applicants were required to have is a minimum of 800,000THB in the bank. Applicants were also required to show proof of meeting this financial threshold by presenting a printout of the applicant’s Thai bank book.
Retirement Visa requirements were later modified to include yet another condition; that of having the money in the Thai bank account for at least 3 months during application. Anyone who doesn’t have a Thai bank account and wants to open one can read the article that has been especially dedicated to explaining the process of opening a Thai bank account here. Remember, without an account in a Thai bank, retiring in Thailand is not possible. Neither is it possible to extend a Thai Retirement Visa without a Thai bank account.
Option 3 – Combining savings and monthly income
For those who cannot meet either of the two requirements, there is a third alternative. This third option entails combining the Thai bank deposit requirement and the monthly income requirement. For example, one could have a monthly income of 45,000THB and a deposit of 300,000THB in a Thai Bank and still be granted a Retirement Visa in Thailand. However, it is advisable to consult a Thai lawyer about this particular option and the combinations that are allowed.
Anyone who wants to apply for a retirement visa in Thailand and needs a free assessment of the options available can visit our offices in Chiang Mai for a private and confidential assessment of the available options. If you are currently located in the US, UK or Australia or any other country simply email us or skype with us and ask for assistance.
Before you decide to retire in Thailand, we strongly advise that you seek legal advice about your options from a lawyer or an immigration spécialist in Thailand.