Over the past years, Thailand has become the center for retirement in Asia as the cost of living is extremely low; security and safety of foreigners is an advantage and the weather is impressive most days of the year. Majority of retiring individuals view Thailand as the perfect place for retirement. It is ones ideal retirement dream location.
Thai Retirement Visa
Applying for a Retirement Visa in Thailand is somewhat direct; however, this has become a confusing issue over the years due to the inconsistencies in the immigration processes. These processes vary not only within Thai Embassy and Consulates around the world, but also with some rules in the different immigration offices located around Thailand.
Eligibility requirements for applicants of Thai Retirement Visa:
· Must be at least 50 years old or over during the time of application
· Must meet the financial requirement, which can be any of the following:
o Security deposit of 800,000 Thai Baht in a Thai bank; or
o Monthly income or pension of 65,000 Thai Baht; or
o A combined total of 800,000 Thai Baht from bank deposits and income or pension covering the entire year;
Application of Retirement Visa outside Thailand: For foreigners who fulfill the required age set by the Thai Embassy in their home country, one can directly apply for the 1 year Non-Immigrant OA Visa from there. This type of visa application would require the applicant to submit a police clearance and medical certificate. Additional documents may also be requested.
Application for the Thai Retirement Visa inside Thailand: Obtaining a 1 year visa extension in Thailand based on retirement would require an initial application for a Non-Immigrant O visa. This is usually applied at the Thai Embassy in the applicant’s home country but can also be made inside Thailand. Once 90-day non-immigrant O visa granted under retirement, you may then be able to extend it to 1 year Retirement visa. For this type of application, the applicant must by now meet the financial requirements.
Applicants of the Non-Immigrant O visa extension in Thailand should be able to provide proof of residency in Thailand. The visa extension process can be made at the Thai immigration office in the same area or the nearest office in that location. Once the applicant is granted the one year extension of stay based on retirement, the extension is renewable every year within Thailand. Application for the renewal should be done before the visa expiration date. The renewal process is much the same as the initial application, thus making it easier for retirees who has done the process before.