Retirement Visa Free At 60

[Little Black Duck]

I had a phone call today from a friend in Samui, he has a retirement visa with the 800K in the bank.

He has a friend who is 64, who told him once you reach 60 you dont have to show the 800K in the bank..

Does anybody know if this is in fact true???

[lopburi3]

No it is not true. The current requirement is 800k/65k regardless of age.

[dr_Pat_Pong]

No it is not true. The current requirement is 800k/65k regardless of age.

Confirmed

[Little Black Duck]

I had a phone call today from a friend in Samui, he has a retirement visa with the 800K in the bank.

He has a friend who is 64, who told him once you reach 60 you don't have to show the 800K in the bank..

Does anybody know if this is in fact true???

Just to add to this see if it makes a difference, He rang me again to see if there was a response..

When I said he was wrong he added, that over 60 they take your house as Surety for the 800K

Again i ask is this the case??

[otherstuff1957]

Does he bring a bottle of Chivas to the local Immigration Office when he renews?

[lopburi3]

A foreigner can not own property in Thailand so how many people over age 60 would have a house to pawn? The law is 800k/65k unless he was grandfathered under the older laws (which did have a reduction in bank deposit at age 60 - but it was still required). And I hate to admit us old folks have lost the plot at the age of 64.

[Little Black Duck]

A foreigner can not own property in Thailand so how many people over age 60 would have a house to pawn? The law is 800k/65k unless he was grandfathered under the older laws (which did have a reduction in bank deposit at age 60 - but it was still required). And I hate to admit us old folks have lost the plot at the age of 64.

Thanks Lopburi3.. The guy who phoned me is a bit of an old woman believes everything people tell him..

Been in Thailand/Samui 4+ years and knows it all, Sweet F*** All...

[dr_Pat_Pong]

Does he bring a bottle of Chivas to the local Immigration Office when he renews?

Nope. He swallows it on the way there

[taxexile]

sounds like he is suffering from oldtimers disease.

[sabaijai]

Perhaps he owns a condo and has an investment visa?

[lopburi3]

Age 60 would hold no magic on an investment visa however.

[wpcoe]

This is a bit of a stretch, but maybe your friend has friends who are grandfathered in on some old rendition of the retirement extension qualifications? If I recall reading correctly here on this forum, a few years ago it was only B400,000 needed, and years before that only B200,000, plus the age requirement was higher (55? or 60?)

So, as I said, it's a stretch, but in the "where there's smoke there's fire" category I could see where some older retired person, who had to wait until age 60 to get his visa and at that time only needed B200k or B400k could be telling your friend that you don't need B800k if you are 60. Then the "not needing B800k in the bank" got transposed into "free" ... are you familiar with the "telephone game"?

[aznyron]

This is a bit of a stretch, but maybe your friend has friends who are grandfathered in on some old rendition of the retirement extension qualifications? If I recall reading correctly here on this forum, a few years ago it was only B400,000 needed, and years before that only B200,000, plus the age requirement was higher (55? or 60?)

So, as I said, it's a stretch, but in the "where there's smoke there's fire" category I could see where some older retired person, who had to wait until age 60 to get his visa and at that time only needed B200k or B400k could be telling your friend that you don't need B800k if you are 60. Then the "not needing B800k in the bank" got transposed into "free" ... are you familiar with the "telephone game"?

just a tip if your over 50 do not have 800.000 baht and get less than 65 k but more than 40 k retirement marry your g/f and apply as married man to thai girl you get around both laws LOL correct me if I am wrong thank you

[lopburi3]

If you had over 40k retirement. over age 50, you would need less than 300k in a bank account to use retirement and not have to get married.

[Maestro]

just a tip if your over 50 do not have 800.000 baht and get less than 65 k but more than 40 k retirement marry your g/f and apply as married man to thai girl you get around both laws LOL correct me if I am wrong thank you

You forgot about the sin sod (dowry) for the bride’s family, which would likely be more than the 300k needed in addition to the 40k monthly income for the marriage extension. End of LOL.

--

Maestro

[macb]

Can you clear a point up then with regards the Marriage Visa?

This does not apply to me as I have Retirement Visa.

However is it true that they have knocked on the head the 400.000 bht in the Bank and that you have to show income of 40.000 bht now, so you guys wanting Married Visas dont have an option now?

And have to got to get a letter from the Uk Consulate to Guarantee the income ?

Edited February 25, 2007 by macb

[lopburi3]

The only route for new marriage applications is 40k family income. It can be from either or both and Thai source funds will be proven by tax records for the previous 3 months and foreign income will use the normal Embassy certification method.

[Khonwan]

A foreigner can not own property in Thailand so how many people over age 60 would have a house to pawn? The law is 800k/65k unless he was grandfathered under the older laws (which did have a reduction in bank deposit at age 60 - but it was still required). And I hate to admit us old folks have lost the plot at the age of 64.

A small correction, which I'm sure is unlikely to change the thrust of this thread: a foreigner may own property. He/she cannot own the land but may own the house.

[Little Black Duck]

A foreigner can not own property in Thailand so how many people over age 60 would have a house to pawn? The law is 800k/65k unless he was grandfathered under the older laws (which did have a reduction in bank deposit at age 60 - but it was still required). And I hate to admit us old folks have lost the plot at the age of 64.

A small correction, which I'm sure is unlikely to change the thrust of this thread: a foreigner may own property. He/she cannot own the land but may own the house.

Sorry to resurrect this one again but I talked with a guy today in Patong who says he gets a retirement visa free because 60 is Retirement age in Thailand and he is too Old to Work..

Also because he owns a Condo, helps gets his Retirement Visa Free..Can Sunbelt shed any light???

For What its worth I agree with everyone here, I still cant believe people are claiming this..

Edited March 2, 2007 by Little Black Duck

[Maestro]

...he gets a retirement visa free...because he owns a Condo...

I guess you are saying that he gets an annual extension of stay, not a visa.

I suspect that he pays the usual fee of 1,900 Baht for his application for extension, but that he does not have to show evidence of 800k in the bank because his application is not for the reason of retirement but for investment. If he already had an extension for investment before October 1, 2006 he can continue to get this type of extension (grandfather clause) although it is not specifically mentioned in National Police Order 606/2549.

In other words, it has nothing to do with the standard retirement age in Thailand or with the applicant’s age.

--

Maestro

[greenway]

Hello Sir,

I will have as retirement starts 45k, my age will be 65 then.

How much money I need to have at the bank account with this monthly 45k?

Thanks in advance

If you had over 40k retirement. over age 50, you would need less than 300k in a bank account to use retirement and not have to get married.

[Krub]

Hello Sir,

I will have as retirement starts 45k, my age will be 65 then.

How much money I need to have at the bank account with this monthly 45k?

Thanks in advance

If you had over 40k retirement. over age 50, you would need less than 300k in a bank account to use retirement and not have to get married.

You need a total of 800k of which the cash in the bank should be in the oaccount for more than 3 months before the application date of your extension.

if you have a certifictae/letter from your Embassy of pension/income of 45k per month (540k) you will need a minimum of 260k in tha bank account.

[nam-thip]

just a tip if your over 50 do not have 800.000 baht and get less than 65 k but more than 40 k retirement marry your g/f and apply as married man to thai girl you get around both laws LOL correct me if I am wrong thank you

You forgot about the sin sod (dowry) for the bride’s family, which would likely be more than the 300k needed in addition to the 40k monthly income for the marriage extension. End of LOL.

--

Maestro

The qualifying requirements for a retirement visa in Thailand is as follows.

You must be 50+

You must produce evidence of income of not less than 800k per year or alternatively half income plus 400k lodged in a Thai bank account for a period of not less than three months.

Or 800k in a Thai account for a period of not less than three months.

With regard to property ownership.

In Thailand a foreigner “can own his own house” but not the land it stands on.

The retirement visa is obtained through income evidence and not asset evidence.

[lopburi3]

The retirement extension of stay is 800k/65k or any combination. I have never heard of any requirement for "half & half". Please advise source of this information and when. Thanks

A retirement visa can be obtained by either income or asset as you clearly stated in your post when you mention a bank deposit or income. But the income requirement is 65k per month = 780k per year.

[Sunbelt Asia]

...he gets a retirement visa free...because he owns a Condo...

I guess you are saying that he gets an annual extension of stay, not a visa.

I suspect that he pays the usual fee of 1,900 Baht for his application for extension, but that he does not have to show evidence of 800k in the bank because his application is not for the reason of retirement but for investment. If he already had an extension for investment before October 1, 2006 he can continue to get this type of extension (grandfather clause) although it is not specifically mentioned in National Police Order 606/2549.

In other words, it has nothing to do with the standard retirement age in Thailand or with the applicant’s age.

--

Maestro

Can Sunbelt shed any light???

What Maestro wrote is spot on correct.

www.sunbeltasiagroup.com

[jayceenik]

Retirees who got their retirement visa before 1998 and have been living here continuously on that retirement visa cum yearly renewals (and left Thailand only with proper Exit/Reentry visas so as to keep the validity of their retirement visa) without break are grandfathered with only 200k in the bank. That clause is clearly spelled out in the most recent visa rules.

[lopburi3]

Retirees who got their retirement visa before 1998 and have been living here continuously on that retirement visa cum yearly renewals (and left Thailand only with proper Exit/Reentry visas so as to keep the validity of their retirement visa) without break are grandfathered with only 200k in the bank. That clause is clearly spelled out in the most recent visa rules.

Yes. But what does that have to do with free visas?