Do you have thoughts of retiring in Thailand? You might be wondering what are the requirements for obtaining a long term visa.
You will find the financial requirements, as well as which documents, in this article to obtain a Thailand retirement visa.
What is it?
Thai retirement visas, also known as the O or OA non-immigrant long stay visa, allow qualified retirees to reside in Thailand for up one year. Once the applicant meets the financial requirements, the visa can be renewed for a second year.
For a Thai retirement visa, you must be at the least 50 years of age, have no criminal records in Thailand and your home country, and have no prohibitive disease, which are listed by the Thai Embassy as Leprosy or Tuberculosis and drug addictions, Elephantiasis and Syphilis in its third stage.
These three financial documents are required in order to be granted a non-immigrant O/OA Visa.
Copy of your bank statements showing that you have made a deposit in the amount of 800,000 baht to your Thai bank accounts
Notarized bank statement copies proving income not less than 65,000 Baht per month with an affidavit signed by your consulate or embassies as proof of income
Combination of a deposit and a monthly income at least 800,000.baht
There are different requirements for each country and they can change. You can apply for the Elite Visa if you have trouble getting a retirement visa.
Health Insurance
In order to extend or apply for a retirement visa, you will need to have health coverage with IPD coverage of 400,000 baht and OPD coverage of 40,000.
Officially, the new regulation will be confirmed at the end of October 31, 2019.
At the moment, it appears that only local insurance will be accepted.
How to Apply
In some cases, you can apply in your home country for a retirement visa.
Inside Thailand
Prepare all financial documents required by your organization.
At least six months validity on passport and at least two blank pages.
Photos measuring 4cm x 6cm taken in the last six-months
A bank passbook updated
Two months after the date of your application, you will receive a letter from the bank confirming that your funds are available.
You may not require a Thai health certificate if your stay is in Thailand.
An official certificate of background/police check
*To receive a bank statement, go to the branch where you opened the account. They will need an official letter from the bank confirming that funds were in your account two months prior to your application date. Depending on which bank you use, the letter will usually cost around a hundred baht. The letter can be delivered the same day or within one hour.
You can also go to the Bangkok Division 1 Immigration Office.
You will need to bring all the documents mentioned in this section as well the section containing the above requirements.
Most cases you will need to apply O for a nonimmigrant visa O before you can extend your visa in Thailand to a one-year nonimmigrant O visa. You’ll get 90 days in the Kingdom. You can apply for a 1-year OA visa after you have been in the kingdom for 60 days.
Outside Thailand
If you apply for your retirement visa from outside Thailand, you will need to apply for an OA visa. The following documents should be brought to the Thai Embassy in your country.
You can get a Thai bank statement or proof that you have income from your home country even if you don’t yet have one.
Don’t be surprised if the embassy says they don’t provide this type visa to foreigners.
The non-immigrant OA visa long term allows you to retire in Thailand for a year, and can be renewed each year from within Thailand.
There are two options for non-immigrant OA visas: single-entry and multiple-entry.
Single-entry
A single-entry nonimmigrant visa OA is available for those who don’t plan to travel outside of Thailand while they hold a retirement visa. A re-entry permit is required if you are forced to leave the country for any reason, such as for pleasure or an emergency.
Multiple-entry
You can leave or enter Thailand as many times you like with a multiple-entry OA Visa. A multiple-entry visa is the best option if you anticipate that you will travel a lot while you live in Thailand.
You will have to check in at Thailand Immigration for 90 days after you apply, regardless of whether you are from Thailand or not.
Visa Restrictions
It is illegal for retirement visa holders to work in any form.
How to extend your Visa
You will need to renew your visa in Thailand when it expires. The process is exactly the same as for your first application. However, you should start the renewal process 15 days before your visa expires. You will have plenty of time to adjust if Thai Immigration asks you for additional documents.
To renew your Thai visa, you can apply at the nearest Thai Embassy.
Other Retirement Visas
These are just a few of the other options available to you if Thailand is on your radar.
Visa for five-year retirement
The Thai retirement visa is valid for five years and allows wealthy retired people from 14 countries to stay in Thailand for up five years. These are the countries: Australia (Canada), Denmark, Germany (Finland), France (Finland), Italy, Japan (Norway), Sweden, Switzerland), United Kingdom and United States. The OX visa for non-immigrants is valid for five years and can be renewed each five years.
This visa has slightly different requirements. These are the requirements to be granted a non-immigrant OX 10-year visa.
3,000,000 baht in a Bank Account, untouched for at Least Three Months from your Application Date or
Monthly Income of 100,000 Baht
Health insurance that covers you up to $10,000 (non-optional).
The application process is similar to applying for an O visa for non-immigrants. You will need to obtain a permit for re-entry after the process is complete.
Thailand Elite Visa Program (Privilege Entrance Visa)
The Elite Thai Visa doesn’t qualify as a retirement visa. However, it is an option for those who are wealthy and want to remain in Thailand for the long-term.
Based on their membership package, qualified foreigners are allowed to stay in Thailand from five to twenty years.
The best thing about the Thailand Elite Visa, is that it dramatically reduces the time and headaches involved in dealing with immigration officers and paperwork. It also keeps you informed of the changing requirements for retirement visas.
The Elite visa doesn’t require you to have 800,000 baht in a bank account.
Numerous retirees apply for the Elite Visa, even if they do not qualify for retirement visas.
Marriage Visa
A non-immigrant visa can be obtained if you marry a Thai national. This visa is available from either the Thai embassy closest to you, or at an immigration office in Thailand. You can manage your finances a bit easier. This visa is great for those with limited funds who need to apply for a retirement visa.
Now, onto You
Here’s how to get a Thailand retirement visa. It is simple if you meet all financial requirements and have the correct documents.
Also, double-check the list and contact your Thai embassy.