Retirement Visa Many visitors to Thailand are so captivated by the country that they decide to return for a second visit or even to spend their retirement years in the Kingdom. Thai immigration law makes provisions for foreigners wishing to stay in the country on a long-term basis for retirement and for a number of other reasons. Obtaining a Thai retirement visa is not a particularly lengthy process. The requirement for an application of such a visa is as follows:
- An applicant must be at least 50 years old
- Have a non-immigrant visa
- Must be able to produce a monthly income (pension statement) of at least 65,000 baht OR 800,000 in the bank that has remained in the account for at least three months.
Although the process itself is not all that complex, there is substantial documentation required and a number of steps are involved. Legal assistance can ensure that the application process proceeds smoothly. The non immigrant visa once obtained is converted to an extended permit to stay based on retirement.
This allows the holder of the visa to remain in Thailand for a full year without having to leave the country. The one-year permit to stay is renewable annually. Immigration professionals at Juslaws have years of experience with all types of visas and in-depth knowledge of Thailand’s immigrations laws and procedures. We provide wide-ranging services to individuals applying for visas and permit-to-stay extensions. Our lawyers offer reasonably-priced advice on visa options available and relevant government regulations.
A foreigner who entered Thailand before 21 October1998 and has since that time received consecutive permits to stay in the Kingdom for the purpose of retirement is subject to a different set of criteria. The applicant must be at least 60 years old and have a monthly income of not less than 20,000 baht, or have had 200,000 baht on deposit in a Thai bank account for a period of at least three months at the time of the application.
An applicant between 55 and 60 years old who entered Thailand before 21 October 1998 must be able to show a monthly income of at least 50,000 baht or funds on 500,000 baht maintained in a Thai bank account for the three months leading up to the date of the application. A retirement visa provides several benefits which include:
- If the original non-immigrant visa was issued with a multiple entry permit the visa holder can enter the country multiple times during the period of validity of the visa.
- It can be converted into a one-year retirement visa, which can be renewed annually without having to leave the country
- The holder of a retirement visa is eligible to open a savings account at a Thai bank.