What is a Thai Retirement Visa?
As the words suggest, having a Thai retirement visa is a requirement for people who wish to retire in Thailand. Of course, it requires to go through an application process, requires a certain set of documents, and also an approval process. If you are planning to retire in Thailand, you will have to apply for a Thai retirement Visa. BLS is one of the most trusted companies to help you with the process, documents, and the guidance required in applying for a Thai retirement visa. Here’s more to the various aspects associated with Thai retirement visa.
Important Things to know about Thai Retirement Visa
- Thailand retirement visa, in other words, is also known as Non-Immigrant OA-Long Stay Visa.
- Thai retirement visa is a long term visa that allows the holder to stay in Thailand for a period of 1 year.
- The visa can be valid for either multiple entries or a single entry
The visa holder can renew the visa every year, and the visa could be renewed in Thailand itself. However, visa renewal requirements would still apply.
Qualifications for a Thai Retirement Visa
- The applicant must be 50 years of age, and above.
- Financial Requirements: The applicant must pay a security deposit of 800,000 THB in Thai bank account, 2 months before the visa application. The applicant’s monthly income must be 65,000 THB and above. Combination of the annual income and the security deposit with a total of 800,000 THB.
- Supporting Documents Required
- In case of a security deposit, the applicant will have to provide an updated bank book, or passbook together, with a supporting bank letter confirming the deposition of the money to the account from an overseas source, for not less than 2 months.
- In the case of income, a letter from the applicant’s embassy in Thailand verifying the applicant’s monthly income would be required. In case, the embassy doesn’t issue such a letter, the applicant will have to provide a 12-month bank statement, showing a regular deposit of 65,000 THB in a Thai bank account.
Besides the above, the applicant will also have to submit a medical certificate and a police clearance certificate. Generally, these documents aren’t required if the application is submitted in Thailand. But, in some rare cases, they do ask for these documents, and when the concerned authorities from the Thai embassy or consulate may require them before the issuance of the visa.
Thai Retirement Visa Application Process
The application can either be processed in the applicant’s country of residence, or in Thailand. The required documents must be submitted to the Thai embassy or consulate in the applicant’s country.
- Non-Immigrant OA Visa Application in the Applicant’s Home Country: All the documents mentioned above must be submitted to the Thai embassy or the consulate. However, applicants must remain informed about the fact that not all the Thai embassies or consulates are authorized to issue a Thai retirement visa.
- Non-Immigrant OA Visa Application and Extension in Thailand: Before applying for a Thai retirement visa, it is necessary to apply for a 90-day initial non-immigrant visa through the Thai embassy or consulate in the home country. The applicant will either have to wait for 60 days to be in Thailand before he/ she can file for a retirement visa application at the immigration office, or he/ she has to be in the last 30 days of the current stay permit.
- Documents such as the proof of address would also be required.
A foreign national on a visa exemption stamp, or a tourist visa, can also apply for a retirement visa, provided the individual has met the requirements for the non-immigrant O visa for the 1-year visa extension application. This can be done at Thailand’s immigration office.
Some Reminders to the Thailand Retirement Visa Holders
- Re-Entry Permit: If you intend to enter and exit Thailand during the 1 year of your visa validity, you will require a multiple re-entry permit to be able to do it, and also avoid the cancellation of your visa. In case you don’t intend to travel in and out of Thailand during the 1 year of validity of your visa, you need not apply for a re-entry permit. In case, you are required to exit the country for any reasons, you can make a re-entry permit application to the nearest immigration office or at the international airport before your departure.
- 90-day Reporting: As a retirement visa holder, you will have to notify the immigration office about your current residential address every 90 days. This 90-day reporting can either be done through a personal visit to the immigration office, or through an email. You can also assign an agent to do this through a Power of Attorney. In case, the retiree isn’t present in the country at the time of reporting, the 90 days count would start again from the date of re-entry in Thailand.
- Importing Household Items: As per the Bureau of Customs, retirees cannot import any household items to Thailand duty-free.
Bank Account: At the time of the renewal of the Thai non-immigrant retirement visa, retirees must have the required funds in their bank account before the renewal of the visa, and the funds must at least be 3 months old.