Thailand Retirement Visa 2020 is going to see more changes. A Thailand retirement visa, as commonly referred to it as such because people applying for this type of visa are retirees who wish to spend their retirement in Thailand. Also, you will not be allowed to work under this type of visa. See how best retiring in Thailand works. What others also refer to as a retirement visa is officially known as an extension of stay based on retirement. Note that many expats tend to get married in Thailand, register your marriage and then apply for a marriage visa.
Thailand Retirement Visa
To obtain an extension of stay based on retirement, one should enter Thailand with a Non-Immigrant O Visa, and then obtain the retirement extension from the local immigration office – provided that all requirements are met.
There are three key requirements to the Retirement Visa in Thailand, namely:
· Applicant should be 50 years old or above;
· Applicant should have at least 800,000THB deposited in a Thai bank account for at least two months prior to application for the extension, and 800,000THB remaining three months after the extension, and 400,000THB maintained indefinitely in the bank account thereafter;
· Applicant is required to obtain a letter from your Thai Bank confirming the 800,000THB in your account and has been deposited there for the required time frame;
For those applying for the second or third year, the 800,000THB has to be deposited in the bank three months prior to applying for the visa extension, with the other rules as is. Also, the letter from your Thai bank verifying the balance and a copy of your bank book would still be required. You can also use foreign currency provided that the monetary equivalent sums up to 800,000THB. Some banks are offering foreign currency accounts, but one should make sure that the amount deposited in the account matches the financial requirement for the extension of stay, as the exchange rates fluctuate every now and then which would leave you short if not monitored properly.
In obtaining an extension of stay based on retirement, you will be required to attend to an immigration office and bring these documents:
– Passport with Non-Immigrant visa (photocopied and signed);
– TM.7 Form signed with photo and phone number;
– TM.6 with photocopy (Departure Card);
– Passport-sized photos;
– Proof of funds and proof of income, usually a letter from your Thai bank or country’s Embassy. Bank letter should not be more than three days old;
– Proof of address in Thailand, such as copies of rental agreement and utility bills;
Always check the requirements for the Thailand retirement visa as it does change.