Retirement and property is a complex issue. Retirement visa is a “Non-Immigrant OA-Long Stay Visa”. This is a type of visa which would allow a foreigner to stay for long term and retire in Thailand. The visa issued will be good for a year and can be renewed each year without the need of leaving the country. Initially, a 3 months Non Immigrant visa will be granted provided that requirements are met.
Retirement and Property
The applicant should be at least 50 years old or over. Also youi must meet either one of the financial requirement. This is 800,000thb in a Thai bank account for three (3) months prior to visa application. Alternatively a monthly income in a form of pension or social security in the amount of 65,000thb. This or a combination of both money in Thai bank account and yearly income in total of 800,000 thb.
Once initial 3 months visa approved, a month before the visa is due to expire, a conversion to 1 year Retirement visa shall take place. Every 90 days you will be required to check in with Immigration for your 90 day reporting. With this, they would know that you are still residing in Thailand. However, if you have an intended travel for overseas before scheduled 90 day reporting, your exit and entry back to Thailand will serve as such. Always take legal advice when retiring in Thailand when wanting to buy property in Thailand for your retirement. See how best to ensure your retirement and property rights.
There are two ways to apply for a Retirement visa. It can be done from your home country or inside Thailand. If applying from your country of residence, an initial nonimmigrant o visa can be applied from the nearest Thai embassy or consulate before coming to Thailand. Initially, a 3 month nonimmigrant o visa will be issued, this will be then converted to a year visa at the Thai Immigration office two months after your arrival.
If applying from inside Thailand, conversion of your tourist visa or visa exemption to nonimmigrant o can be done at the nearest Thai immigration office provided that you have at least 15 days of your permit to stay in the Kingdom. The application requires a lot of paperwork. With this, assistance from the experts may somehow be needed.