Retirement (program) - Not What One Might Expect

[jinjok]

according do a wall street joural article on retirement in south east asia dated march 31...

malaysia has grown its retirement community ten fold from 1998-2001 and wants to grow another 50% in three years.

philippines has been 'revving up' recruiting efforts, the nuber rose by almost 2000 last year totalling nearly 6000 active holders (many many live on other sorts of visas as well). WE AIM TO HAVE ONE MILLION RETIREES ... BY 2015 - pres phils retirement inc

contrast this:

thailand doesnt have an official retirement program, but the number is 'climbing' [yeah right]

in 2005 [only] 1500 visas were issued (retirement). thai govt states that while offical numebr is not in, they expect 'big increase'. so... if we were to assume an increase of as high as 50% that would bring the country to 2,250 which is one third that of the philippines.

i would therefore conclude that with such minimal numbers and that upwards of 7% of the economy is based in tourism that the current policies wil lhave devestating impact in the long run.

what i find shocking is i was under the impression that a minimum of say ... 10-15k retirement visas are outstanding. this number is pathetic and paltry.

fyi: philippines retirement requirements are about half that of thailand. us10k and/or (???) us800 per month pension. if both ar ethe case then this is about = to thailands requirements - at this moment in time...

i conclude its a loser program becasue> there is no program, its a hassle, its expensive, every changing requirements and the huge sums of cash that must sit in non-insured thai banks. its just a bad deal. the people that retirement visa work for are those that are quite content to turn these affairs over to a legal team - and then there is still no guarantee of consistancy.

[Hampstead]

This low figures are a bit of a joke, if they are to be true.

having a visa depending on an age group makes no sense in thailand when so many people of all age's would love to live in this country of their own money.

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

its an out of date visa from the indo china wars

If thailand wants to still be the centre of foreigners migrating to asia, then they should look to target the under 50 age group.

as thailand has a very strong attraction to many people under the age of 50 who have just as much money if not more than those on retirment visa's.

Edited April 8, 2007 by Hampstead

[Naam]

fyi: philippines retirement requirements are about half that of thailand. us10k and/or (???) us800 per month pension. if both ar ethe case then this is about = to thailands requirements - at this moment in time...

retirement in the Philippines requires an initial fixed deposit of US-Dollars 50,000 if 50 years of age and above and US-Dollars 75,000 if age 35-49. unlike Thailand a pension or a certain income is not required.

[jinjok]

dr. naam - that was based on the articles info but i questioned it and then googled your info. assuming this is current you are correct and teh wsj is incorrect. appears money-wise less expensive to retire in thailand but would give phils credit for the straightforward nature of the process ( http://www.pra.gov.ph/main/index.php?pid=5〈=2 )

id bet there must be 25k retirees living on the two month and/or married to pinays.

requirements for phils:

http://www.pra.gov.ph/main/index.php?pid=5〈=2

[tartempion]

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

Huuuu?

I spent 5 million baht in This country over the last 5 years and YOU wonder what's the benefit for Thailand?????

Simple calculation:

1k houses built by retirees per year, giving work for 10 people during 6 months, what's in for Thailand???

We feed thousands of villages and their people not to mention those who feed complete and often parasiting families.

[LPCustom69]

This low figures are a bit of a joke, if they are to be true.

having a visa depending on an age group makes no sense in thailand when so many people of all age's would love to live in this country of their own money.

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

its an out of date visa from the indo china wars

If thailand wants to still be the centre of foreigners migrating to asia, then they should look to target the under 50 age group.

as thailand has a very strong attraction to many people under the age of 50 who have just as much money if not more than those on retirment visa's.

[Hampstead]

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

Huuuu?

I spent 5 million baht in This country over the last 5 years and YOU wonder what's the benefit for Thailand?????

Simple calculation:

1k houses built by retirees per year, giving work for 10 people during 6 months, what's in for Thailand???

We feed thousands of villages and their people not to mention those who feed complete and often parasiting families.

where do you get the info on 1000 people on retirement visa's building homes.

The retirement visa, is supposed to bring WEALTHY retirees to thailand, NOT guys who find it difficult to scrape together 800k. So the visa is not working especially as there are less than 2000 visa's in 2005.

As for 5 million in 5 years on parrasites, then live the single life, it be a lot cheaper.

5 million to buy a home in central bkk, phuket, samui wont get you too much any more

Thailand wants tourists who can easily afford to buy that phuket home for 10, 15 or 30 million.

tourists who can easily afford the new condos at 8, 10 or 15 million baht in central bkk

Its these kind of tourists that thailand would be better siuted to target to benefit the country, not guys living a life on a small budget hoping they have enough funds for the next yearly visa.

[LPCustom69]

This low figures are a bit of a joke, if they are to be true.

having a visa depending on an age group makes no sense in thailand when so many people of all age's would love to live in this country of their own money.

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

its an out of date visa from the indo china wars

If thailand wants to still be the centre of foreigners migrating to asia, then they should look to target the under 50 age group.

as thailand has a very strong attraction to many people under the age of 50 who have just as much money if not more than those on retirment visa's.

That's just it, Thailand doesn't want to be the center of foreigners migrating to Asia. And they seem to especially not want a mass influx of under 50s, or they would change the law to encourage their presence. It may be easier someday, but I think the next few years will not be encouraging.

[Hampstead]

This low figures are a bit of a joke, if they are to be true.

having a visa depending on an age group makes no sense in thailand when so many people of all age's would love to live in this country of their own money.

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

its an out of date visa from the indo china wars

If thailand wants to still be the centre of foreigners migrating to asia, then they should look to target the under 50 age group.

as thailand has a very strong attraction to many people under the age of 50 who have just as much money if not more than those on retirment visa's.

That's just it, Thailand doesn't want to be the center of foreigners migrating to Asia. And they seem to especially not want a mass influx of under 50s, or they would change the law to encourage their presence. It may be easier someday, but I think the next few years will not be encouraging.

The retirement visa is an out of date visa stemming from the indo-china wars.

As for saying thailand is better off having over 50's rather than younger people with more money, must be some kind of belated april fools joke.

If you think a visa with more than 2000 people is a mass influx, then what do you suppose the description should be for work permits, whose number is over 60000, a mass plague? do you think thailand benefits from having retirees scraping a living or younger guys earning their living on permits or buying second home properties.

Edited April 9, 2007 by Hampstead

[Lite Beer]

The retirement visa is an out of date visa stemming from the indo-china wars.

As for saying thailand is better off having over 50's rather than younger people with more money, must be some kind of belated april fools joke.

If you think a visa with more than 2000 people is a mass influx, then what do you suppose the description should be for work permits, whose number is over 60000, a mass plague? do you think thailand benefits from having retirees scraping a living or younger guys earning their living on permits or buying second home properties.

Yawn. Change the record.

[Naam]

appears money-wise less expensive to retire in thailand but would give phils credit for the straightforward nature of the process.

straightforward is the correct expression! a few of my friends are retired and live in the Philippines. no hassle to obtain and renew the retiree permit. restrictions on immobile property (company required for land purchase) the same as in Thailand but foreigners can own row-houses and of course condos. on top of that, the fixed deposit can be converted (after a certain time) and be used to purchase immobile property.

shortcomings compared to Thailand are that property in metropolitan areas of the Philippines is much more expensive and in rural areas the infrastructure is lacking.

[midas]

This low figures are a bit of a joke, if they are to be true.

having a visa depending on an age group makes no sense in thailand when so many people of all age's would love to live in this country of their own money.

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

its an out of date visa from the indo china wars

If thailand wants to still be the centre of foreigners migrating to asia, then they should look to target the under 50 age group.

as thailand has a very strong attraction to many people under the age of 50 who have just as much money if not more than those on retirment visa's.

Hampstead - I think I now you have well and truly made your point !

And besides that I'm sure the over 50's must be sick to death of reading your constant criticism of them is

[Sophon]

in 2005 [only] 1500 visas were issued (retirement).

I suspect that those numbers could possibly be based on how many Non O-A visa were issued, after all that is the official retirement visa. From the reports here on this site, it seems the majority of people goes the route of getting a standard Non O and extending it in Thailand and therefore never getting a "retirement visa".

Sophon

[Hampstead]

This low figures are a bit of a joke, if they are to be true.

having a visa depending on an age group makes no sense in thailand when so many people of all age's would love to live in this country of their own money.

And whats the benefit for thailand. I mean none of these guys pay any income tax on their pension money to the thai government.

All these guys have to do is scrape together 800k to stay in an account for 3 months and bang, they get a nice 12 month visa. They dont even have to buy any condos to live here, just be of an older age

its an out of date visa from the indo china wars

If thailand wants to still be the centre of foreigners migrating to asia, then they should look to target the under 50 age group.

as thailand has a very strong attraction to many people under the age of 50 who have just as much money if not more than those on retirment visa's.

Hampstead - I think I now you have well and truly made your point !

And besides that I'm sure the over 50's must be sick to death of reading your constant criticism of them is

Great

i would love to see a new record and see the retirement visa pass the 2000 mark.

In fact i wonder what the figures are for 2006?

[OlRedEyes]

Just a thought. Whenever I renew my retirement visa, always with all the requirements met legally, I have to still pay 200% tea money on top of the basic charge. Also the general attitude smacks of 'farang you'd better be grateful I'm giving you this visa'.

Thats just in the immigration office. The attitudes elsewhere is a subject for another discussion.

I always approach everyone with a smile and the same respect I'd like to recieve. But I don't grovel.

If thailand wants to attract any serious number of anyone, it'll have to first change it's attitude.

[Lite Beer]

Just a thought. Whenever I renew my retirement visa, always with all the requirements met legally, I have to still pay 200% tea money on top of the basic charge. Also the general attitude smacks of 'farang you'd better be grateful I'm giving you this visa'.

Thats just in the immigration office. The attitudes elsewhere is a subject for another discussion.

I always approach everyone with a smile and the same respect I'd like to recieve. But I don't grovel.

If thailand wants to attract any serious number of anyone, it'll have to first change it's attitude.

Only in Samui Red. Every where else 1,900 Baht.

They are still getting away with it.

[jinjok]

personally, i just find the number astonishing. thailand has 6-7 million tourists and puts up barriers to its 1000 expats. not even close to on ehalf one percent. more illegal aliens enter us and even spain in a day to work and exploit th ehealth system than the annual number of 1000 - and they complain.

stay at home, just send us the money

[Gary A]

My retirement visas alway cost me 1,900 baht. Never have any problems. I don't know where the numbers come from but I'd suggest someone check them. I also think the under fifty crowd is getting a raw deal but you just have to deal with it. Quite frankly if I were under fifty, I'd more than likely pack my bags.

Edit - 2,000 retirement visas ????????? I probably KNOW 2,000 guys who have retirement visas. I think someone confused retirement visas with resident visas.

The Philippines visa system is not even as good as Thailand's. You must be married to a Filipina or you must leave the country once a year. It is also much more expensive to maintain your visa in the Philippines.

Edited April 12, 2007 by Gary A