Retiring to Thailand

[natway09]

Listen to all the grizzles on here & do your own homework.

I lived in KL for 4 years & you can live a lot cheaper & better here.

Immigration here is not as bad as the soothsayers say & requires a presence once a year for 3 hours at maximum.

90 day reporting can be done by remote or agent.

My visa category & extension been renewed 30 times without hassles.

There is talk of having to have 1mil in the bank, up from 800,000 Bht but am sure that

would not worry you (not like some)

But yes, the Health Insurance question here can be a worry as you need in case reliable cover in something really serious happens so shop around for that.

I cannot help in that regard as have had mine for 25 years & guaranteed for life. so have

never looked hard, but I now only have "inpatient " & the private hospitals are good quality & cheaper than Malaysia for the  smaller stuff..

The duty on "personal possessions " should not be too bad but sell your vehicle(s) & rebuy here.

It is just not worth the hassle even if an agent told you he could arrange

Best of Luck

[khunPer]

On 9/16/2021 at 11:05 AM, Mario Cosmopolite said:

...but is there a one-stop forum/entry/book for comparing the Retirement Visa and the Elite Visa, including such detail as whether we can import a lifetime of personal possessions?

I don't know if the is a comparison page or forum, but the main difference I see is that if you can afford the Elite Cart-solution, then they takes care of most issues for you; while the non-immigrant "O".visa with extensions of stay based on retirement is a financially very affordable method, and not as complicated as some make it sound like; I use that methods myself to extend permission to stay in the Kingdom.

 

If you deposit 800,000 baht in a fixed account you can sleep well without worrying about topping up in a bank account, maturing funds, or currency exchange rates if using monthly foreign transfer method. The remaining paperwork is easy - including the much debated 90-day address reports - even that the list of documents for the immigration office might seem long first time, you'll quickly get used to it, and being just a little organized it's not a big deal. 1,900 baht a year for extension of stay, and from 1,000 to 3,800 baht for re-entry permit in case you travel abroad, so up to 5,700 baht per year, plus a small fee for bank letter and statements for deposit, and an eventual health certificate depending of where you settle in Thailand. So in total around 6,000 baht per year to extend your permission to saty, which you can compare with the Elite Card costs.

 

Based on that you can value if the hassle of paperwork, and if eventual extra Elite benefits like VIP-line in airport immigration, airport transfers, and some discounts, are worth the difference.

 

When moving to Thailand you are allowed one air shipment, and one surface shipment of personal household items; the latter can be both a 20-feet or 40-feet container. There are few items you are not allowed to import, which apart from weapons and gold also includes silver, in case you have silver-ware among your house hold items. I had a 20-feet container sent, everything went smooth, but always be prepared on paying a little duty, and a small amount of v.a.t.

 

There are some good threads worth checking in ASEAN NOW forum about importing a container with personal items, including hints about packing list, value og items, pro forma invoice, and custom clearance.

????

[zzzzz]

On 9/17/2021 at 8:53 AM, Road Warrior said:

caution  --  when you get old will be unable to med, insurance so no retirement extension  visa 

 so then have to go back home !!!

BS:
you don't need in insurance if ur getting yearly extensions based on being over 50.
For me and every other retired expat i know, the elite is a waste of money>
put 800,000 in the bank and than pay ONLY 1,900/year for ur extension!!  Than if you wish to travel ( someday we will be able to) the re entry permit is only 3,800 for multiple entries> 
if ur married you wife can piggy back on ur extension an she does not need put 800,000 in the bank~!

 

The Farang:
"Although,  in 5 years Thailand is rolling out some new home owner options for foreigners (40yrs max). "
you have a working crystal ball??LOL

RENT and move around the country for a year<
Chiang Mai is perfect for some while many other like Phuket but if thats to busy, there plenty of other beach areas>

You can import ur personal goods duty free, I did it from the states  ( TWICE  LOL) 
BUT not a car
 

Edited September 19, 2021 by zzzzz

[BritTim]

1 hour ago, zzzzz said:

you don't need in insurance if ur getting yearly extensions based on being over 50.
For me and every other retired expat i know, the elite is a waste of money>

Your point of view is perfectly valid, but let me put forward one point which is almost always ignored ...

 

Especially a 20-year Elite membership has one very valuable characteristic. It is almost certain that the Thai authorities will honour the visa aspects of the Thailand Elite program, whatever else happens. That means no nasty surprises going forward. When in Thailand on an extension of stay based on retirement, that is not true. The conditions for granting fresh one-year extensions can change at little notice. It is true that currently there is no health insurance requirement. How sure are you that this will remain true even two or three years from now? For those using the income method of financial proof, how confident are you that the authorities will not turn around and eliminate that option, or require you to pay tax on what you transfer in as proof? Will the amount of 800,000 baht in the bank be sufficient a few years from now? Could many times that be mandated? If unacceptable conditions are introduced, will you be willing to subject yourself to the agent system, and are you confident this will remain a safe way of circumventing the requirements? How big a problem would it be if you concluded that your only reasonable option was to leave Thailand?

 

As I started with writing, your position is valid. I would argue that, while valid, it involves risk. A Thailand Elite membership is not stupid. It could be regarded as sensible, depending on your assessment of the situation and the priority you put on certainty.

[jazzdog32095]

On 9/16/2021 at 4:23 PM, olfu said:

Rent before you buy!

IMHO renting and never buying again is best, especially for retirees. Properties renting for 10K typically value out at 3.5M or less, 20K rent = 6M or less, 30K = 9M or less, 40M you can find a place valued 15-18M or more depending on location, demand etc. Now say you fork over 9M cash when you are 65.

Paying 30K per month you crack the nut in 25 years. The S&P500 has averaged 7% over the last 25 years. Investing half $4.5M for half the time 12.5 years you make $10.4M. Historically appreciation in LOS is pitiful, 1.2% per year so in year 12.5, if you could find a buyer, you would pocket maybe  the same $10.4M 

Edited September 19, 2021 by jazzdog32095
cant spell

[zzaa09]

4 minutes ago, jazzdog32095 said:

IMHO renting and never buying again is best, especially for retirees. Properties renting for 10K typically value out at 3.5M or less, 20K rent = 6M or less, 30K = 9M or less, 40M you can find a place valued 15-18M or more depending on location, demand etc. Now say you fork over 9M cash when you are 65.

Paying 30K per month you crack the nut in 25 years. The S&P500 has averaged 7% over the last 25 years. Investing half $4.5M for half the time 12.5 years you make $10.4M. Historically appreciation in LOS is pitiful, 1.2% per year so in year 12.5, if you could find a buyer, you would pocket maybe  the same $10.4M 

All true.

Well constructed.

Cheers....

[zzzzz]

15 hours ago, BritTim said:

Your point of view is perfectly valid, but let me put forward one point which is almost always ignored ...

 

Especially a 20-year Elite membership has one very valuable characteristic. It is almost certain that the Thai authorities will honour the visa aspects of the Thailand Elite program, whatever else happens. That means no nasty surprises going forward. When in Thailand on an extension of stay based on retirement, that is not true. The conditions for granting fresh one-year extensions can change at little notice. It is true that currently there is no health insurance requirement. How sure are you that this will remain true even two or three years from now? For those using the income method of financial proof, how confident are you that the authorities will not turn around and eliminate that option, or require you to pay tax on what you transfer in as proof? Will the amount of 800,000 baht in the bank be sufficient a few years from now? Could many times that be mandated? If unacceptable conditions are introduced, will you be willing to subject yourself to the agent system, and are you confident this will remain a safe way of circumventing the requirements? How big a problem would it be if you concluded that your only reasonable option was to leave Thailand?

 

As I started with writing, your position is valid. I would argue that, while valid, it involves risk. A Thailand Elite membership is not stupid. It could be regarded as sensible, depending on your assessment of the situation and the priority you put on certainty.

hmmm perhaps you feel safer giving them tons of cash for 20 years, ( not sure i will or even want be around that long ???? ) but i feel safe knowing , even if they do change the 800,000 to 1 mil, 2 mil  or the 65 to 80, 100,00,they will grandfather those that stated at 800,000, same as they did when it went from 200,000 to 800,000

 

ON the other hand, theres always the agent    ????

Edited September 20, 2021 by zzzzz