Retirement visa 2020 rules

These are the Thai retirement visa 2020 rules. Early this year, the Thai Immigration Office requires foreign retirees showing a monthly income of at least 65,000 baht in which they must show evidence of monthly income of at least 65,000THB transferred to a Thai bank account or holding a savings of a minimum of 800,000THB in Thai banks.

Retirement visa 2020 rules

Retirement visa 2020 rulesThe amount in savings must be maintained for three (3) months after a visa or extension is granted, after which they can only take out half of the money, having at least 400,000 THB maintained in the savings account throughout and 2 months prior visa renewal, the said amount must be in applicant’s account to qualify for the visa renewal process.With this, many foreigners panicked and the new rules also made it difficult for most as some embassies, do not issue the income affidavit for pensioners which has been used by most retirees from the previous years. Leaving the option for the bank savings only.

For bank savings, the account should solely bear the same name as to the applicant. Joint accounts or the other spouses’ bank account cannot be used in support of the retirees visa application.

Col. Nitipan Kanokvejyan, was noted as the officer who signed the new regulations, and until this date, issues still arises amongst foreign retirees.

The above financial requirement is an important factor to be eligible for a retirement visa in Thailand. This is only applicable for foreign nationals aged 50 and above who wishes to stay in Thailand for long term without the intention of working in the Kingdom.

Retirement visa holder can stay up to 12 months in Thailand, employment is strictly not allowed and visa renewal done annually.

Required documents for Thailand Retirement visa process:

  • –          Valid passport of not less than 18 months of validity
  • –          Visa application form
  • –          Passport-sized photos
  • –          Copy of bank statements and bank guarantee letter showing 800,000 THB in savings

In case when spouse is also relocating in Thailand with you and is below the age of 50, the spouse may apply as a dependent visa on a non-immigrant o visa application provided that attested marriage certificate be submitted. Always speak to a lawyer about the Thai retirement visa 2020 rules.

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By Robert De Klerk

If you wish to retire in Thailand then see what you will need to know. Are you going to retire with your foreign wife in Thailand and want to know the process? Do you have a Thai wife and what are the other options? See what you need to know if you are from Australia New Zealand, Europe or America.