The Thailand Retirement Visa, also known as the Non-Immigrant OA Visa, is a popular choice among expats looking to enjoy their retirement in Thailand. Successfully obtaining this visa not only provides an easy pathway to settling down in the country but also serves as a stepping stone towards permanent residency.

Benefits of the Thailand Retirement Visa

The Thailand Retirement Visa offers several advantages, including:

• Extended Stay: This visa allows holders to stay in Thailand for up to one year. However, to leave and return without voiding your visa, you must obtain a re-entry permit.
• Unlimited Renewals: The visa can be renewed indefinitely, provided you continue to meet the necessary criteria.
• Convenient Renewal Process: Renewals can be done within Thailand, eliminating the need to travel abroad each year to renew your visa.

Eligibility and Requirements

To apply for the Thailand Retirement Visa, you must meet the following criteria and submit the required documents:

• Age Requirement: You must be 50 years or older.
• Financial Requirements: Fulfill ONE of the following conditions:

• Maintain a security deposit of 800,000 THB in a Thai bank account for at least two months before applying.
• Show a monthly income of at least 65,000 THB.

• Provide evidence of a combination of savings and annual income totaling 800,000 THB. For financial documentation:

• A security deposit requires a bank book and a letter from the bank confirming the funds have been in the account for at least two months.
• For monthly income, a letter from your embassy in Thailand is required to verify your earnings. Alternatively, if your embassy does not issue income letters, you can submit a 12-month bank statement showing regular deposits of at least 65,000 THB into a Thai account.

Additional Documents: Although rare when applying inside Thailand, officials may occasionally request:

• Police clearance
• Medical certificate
• Proof of health insurance

Phuket Easy Accounting is assisting in preparing all the necessary paperwork and copies needed.

Application Process

The Thailand Retirement Visa is issued as an extension of the 90-Day Non-Immigrant O Visa. There are three primary ways to apply:

• In Your Home Country: Submit your application and all required documents to a Thai Embassy or Consulate. Applications made outside Thailand typically require a police clearance, medical certificate, and proof of health insurance.
• In Thailand After a 90-Day Non-Immigrant O Visa: First, apply for a 90-day visa in your home country, then travel to Thailand. You must stay at least 60 days before applying for the retirement visa at an immigration office or within the last 30 days of your current stay permit. Proof of your Thai address is required.
• As a Tourist in Thailand: If you entered under a Tourist Visa or Visa Exemption Scheme, you can still apply for a 90-Day Non-Immigrant O Visa and later extend it to a retirement visa, provided you meet all requirements. Both applications can be handled at an immigration office in Thailand.

Obligations for Retirement Visa Holders

As a Thailand Retirement Visa holder, you must comply with the following:

• 90-Day Reporting: Inform immigration of your residential address every 90 days. This can be done in person, online, via mail, or through an agent with a Power of Attorney. If you’re outside Thailand when reporting is due, the 90-day count restarts upon re-entry.
• Re-Entry Permit: If you plan to leave and return during your visa’s validity, a re-entry permit is necessary to avoid visa cancellation. Permits can be obtained at immigration offices or international airports before departure.
• Bank Account: To renew your visa, the required funds in your Thai bank account must have been held for at least three months, compared to the two-month requirement during the initial application.
• Importing Personal Items: Duty-free import of household goods is not allowed under this visa.

Alternatives to the Retirement Visa

If the Retirement Visa doesn’t meet your needs, consider these long-term visa options:

LTR Visa (Long-Term Resident Visa): Designed for retirees, this visa offers renewable five-year multiple-entry permits and up to ten years of stay. It also reduces the standard 90-day reporting to an annual report.

Thailand Elite Visa: Ideal for those seeking a luxurious lifestyle, this visa provides stays ranging from five to twenty years, along with numerous perks such as free spa treatments, discounts, and expedited immigration services.

The Thailand Retirement Visa is an excellent option for retirees, offering convenience and flexibility. However, alternative visas like the LTR or Elite Visa may suit those seeking additional benefits or longer stays.

Easy Day Accounting is happy to help obtaining the right visa for you. Contact Us now!