typical retiree (foreign home) situation

[Denim]

1 hour ago, NextG said:

Rent a studio WHERE for £600? ☺️
Cannot be referring to London. 

 

Oh....worse than I thought then. I was thinking Manchester. Been a long time since I checked. When I saw how much my old studion flat that I bought for 34,000 is now worth I couldn't believe it. Around 250,000  or over 10,500,000 baht !!

[NextG]

57 minutes ago, Denim said:

 

Oh....worse than I thought then. I was thinking Manchester. Been a long time since I checked. When I saw how much my old studion flat that I bought for 34,000 is now worth I couldn't believe it. Around 250,000  or over 10,500,000 baht !!

Don’t know about Manchester. That’s far north isn’t it? 😊

[Denim]

3 hours ago, NextG said:

Don’t know about Manchester. That’s far north isn’t it? 😊

 

Er...probably somewhere beyond the Watford Gap where there be dragons as well.

[DavidH51]

When I move to Thailand, I will sell my home in Florida.

And get rid of all but a few possessions. But I am 72 so my choices may not work for a younger person.

Also the Phillipines is a good backup plan.

[Lacessit]

I sold my house in Australia to free up capital, and also because I was tired of having to maintain it every time I went back.

My son has a spare bedroom in his house for me, so I have not burned all my bridges.

[BlueScouse]

I have been working overseas for 48 years, now retired. When my mother died, I and my sister inherited the house, a 3 bedroom semi detached in UK.I bought out my sister. My son lives there now, has done for about 6 years. Next year my daughter will also live there, she has lived in UK previously. When I die, the house will be left to both of them. I doubt if they will return to live in Thailand. I also use the house as my address for banks.Suggested I sell the house and buy a smaller cheaper one, both children asked me not to. The house has been in the family since 1936 or so. Been married for 33 years, everything in Thailand is in the wife's name

[jaxon]

2 hours ago, DavidH51 said:

 

And get rid of all but a few possessions. But I am 72 so my choices may not work for a younger person.

 

 

What's your thinking on not working for a younger person...because at 72 you're in it for the long haul?  I'm 60 but I guess one can switch countries at any age, and at least for Brits might have to for health reasons (NHS). 

[jaxon]

14 hours ago, brianthainess said:

And what may that be? nothing has really changed for a decade and in fact in some ways have got better, there are also bordering countries to go if the poo hits the fan.

 

I meant that I find the Thai visa system complicated and that there are so many hoops to go through to maintain status.  For example if one were to do a visa run and for some reason a border official rejected - that's an uncertainty for me.  I'm not yet expat so haven't been through it yet.  

 

[Pattaya57]

9 hours ago, TroubleandGrumpy said:

In Australia the taxation rules mean that 100% of the money you make from renting out a property is taxed - no tax free threshold. That and all the pro-renter rules and laws made it very unviable to be a landlord so we sold our property. 

What? I keep my apartment empty in Australia as I spend about 3-4 months a year there but I could rent it no problem. I would get the $18,250 tax free threshold + the tax deductable 8% rental agent fee + building depreciation + body corporate fees + land rates, so can earn $600 a week with zero tax on income (about 60,000 Baht per month tax free)

 

Edited December 10, 2023 by Pattaya57

[jaxon]

14 hours ago, oxo1947 said:

What is the uncertainty.....?  I have lived here now over the 27 year mark, and its only got better.

 

 No ones mentioned changes to Visa laws that i have read--maybe Jaxon knows something new.

 

No, I don't know anything about Thai visa laws ! As explained to Brian, reading on here about the visa extension process made me think there is uncertainty about renewals etc.  But judging from your comment it's better than it used to be.  

 

I don't know what the new tax law is that some are referring to. 

[expat_4_life]

18 minutes ago, jaxon said:

 

I meant that I find the Thai visa system complicated and that there are so many hoops to go through to maintain status.  For example if one were to do a visa run and for some reason a border official rejected - that's an uncertainty for me.  I'm not yet expat so haven't been through it yet.  

 

 

As you're 60 years of age, the requirement to permanently reside here on an annual extension of stay have not changed in 2 decades - meet the financial requirements and provide other documents as required by your local Immigration office. While rules that revolve around the supporting paper work have changed the basic requirements have not.

If you are planning to stay on some sort of "touristy" status and not taking advantage of the annual extension of stay based on retirement, then things like border runs, visa exempt, and tourist visas come into play.  You cannot just move here and stay as long as you wish doing it this way without jumping thru the "hoops" you allude to.

Perhaps you've vacationed here in the past and think you'd like to live here, or for some other reason think you would just like to give it a go - assuming you have the financial resources just go the annual extension of stay route based on retirement.

There is also no reason you can't do the tourist visa route, give Thailand a try, then switch to a retirement extension of stay if you decide to reside here on a more permanent basis.  This can be easily done without any complications in terms of refused entry for 6-9 months on a multi entry tourist visa.
 

[jaxon]

5 minutes ago, expat_4_life said:

 

As you're 60 years of age, the requirement to permanently reside here on an annual extension of stay have not changed in 2 decades - meet the financial requirements and provide other documents as required by your local Immigration office. While rules that revolve around the supporting paper work have changed the basic requirements have not.
 

 

I don't understand why there is so much discussion on renewing the annual extension to stay on AN if it's in fact straight forward.  

 

Is that extension also called PS2.  

 

I'm still trying to decide whether I want to start on a retirement visa or some other visa (education, for example).  

[expat_4_life]

41 minutes ago, jaxon said:

 

I don't understand why there is so much discussion on renewing the annual extension to stay on AN if it's in fact straight forward.  

 

Is that extension also called PS2.  

 

I'm still trying to decide whether I want to start on a retirement visa or some other visa (education, for example).  

There is a lot of discussion because rules vary between different Immigration offices and from year to year they may ask for additional paperwork - everybody wants to show up at Immigration with all their paperwork in order.   There are definitely many threads on the forums that discuss the nuances of providing proof that you meet the financial requirements, an officially registered address, etc. - the basic requirement is 800k in a Thai bank account when you first apply.

 

I don't know what a PS2 is.

I not sure the particular requirements or the period of validity for an ED visa, but it definitely requires a sponsor/guarantor, from the educational institution/business you're attending. I always viewed it as an alternative for people that want to stay longer than they can on tourist type entries and are unwed or too young to qualify for marriage or retirement.  I suspect this is not really for you as you qualify in other ways if you really want to stay here.

 

As I mentioned in my previous post, you don't have to start on retirement or as you suggest an ED visa, you can get up to 9 months out of a multi entry tourist visa - no problem switching later.

Edited December 10, 2023 by expat_4_life

[NextG]

5 hours ago, Denim said:

 

Er...probably somewhere beyond the Watford Gap where there be dragons as well.

👀😊

[noobexpat]

2 hours ago, expat_4_life said:

I not sure the particular requirements or the period of validity for an ED visa, but it definitely requires a sponsor/guarantor, from the educational institution/business you're attending. I always viewed it as an alternative for people that want to stay longer than they can on tourist type entries and are unwed or too young to qualify for marriage or retirement.  

 

Elite visa like me. Cheap as chips.

[noobexpat]

Good that those who got lucky with the property timing made tens of millions of baht, like me, upon sale.

 

Little top up to the retirement funds is welcomed.

So much cash though. What do we do with it. I'm too young to be spending it though but maybe the retirees feel different??

 

 

[jaxon]

6 hours ago, expat_4_life said:

There are definitely many threads on the forums that discuss the nuances of providing proof that you meet the financial requirements, an officially registered address, etc. - the basic requirement is 800k in a Thai bank account when you first apply.

 

The OA visa with 800K in the bank does seem the most practical.  Do many expats go for the OX visa (5+5 year) with a 3MN parked in the bank requirement?  

[jaxon]

3 hours ago, noobexpat said:

Good that those who got lucky with the property timing made tens of millions of baht, like me, upon sale.

 

Little top up to the retirement funds is welcomed.

So much cash though. What do we do with it. I'm too young to be spending it though but maybe the retirees feel different??

 

What period was your buy and sell and which city?   BKK condo prices seem to depreciate like cars !  

 

 

3 hours ago, noobexpat said:

 

 

[Mike Lister]

3 minutes ago, jaxon said:

 

The OA visa with 800K in the bank does seem the most practical.  Do many expats go for the OX visa (5+5 year) with a 3MN parked in the bank requirement?  

Be aware, I believe the OX and OA visas requires health insurance at a certain level.

[jaxon]

1 hour ago, Mike Lister said:

Be aware, I believe the OX and OA visas requires health insurance at a certain level.

 

They do. So which one are long term expats usually on, just O? 

[Mike Lister]

2 minutes ago, jaxon said:

 

They do. So which one are long term expats usually on, just O? 

The original visa, which ever one you get, expires after one year or if you time it right, you can squeeze two years out of it. Thereafter, you don't have a visa but you can extend your stay, year by year, on whatever basis you decide upon. The reason for your visa and the reason for your extension of stay is all important, not the visa itself so much. My initial visa was an OA, for the purpose of retirement. When the new insurance law was introduced, I changed my reason for stay from retirement to marriage which meant I was excluded from the insurance regulation. As you can see, I may have had an OA visa at one time but all that matters now is that I'm granted an extension of stay on the basis of marriage, my initial visa type is largely irrelevant.

 

If it was me, I'd go for an O visa, most people I know are on them but many very old expats might be on OA's because they were recommended at one point.

[Toby1947]

Confusius he say never sell bricks and mortar especially U.K. 

[GypsyT]

12 hours ago, DavidH51 said:

When I move to Thailand, I will sell my home in Florida.

And get rid of all but a few possessions. But I am 72 so my choices may not work for a younger person.

Also the Phillipines is a good backup plan.

At your age take couple of 3 to 6 months stays in Thailand before selling anything.

Florida has everything Thailand has and very reasonable places to live.

Good luck!

 

[GypsyT]

4 hours ago, noobexpat said:

So much cash though. What do we do with it.

Ask bar girls. i hear they know and advice/help is "on the house".

[Mike Lister]

5 minutes ago, GypsyT said:

At your age take couple of 3 to 6 months stays in Thailand before selling anything.

Florida has everything Thailand has and very reasonable places to live.

Good luck!

 

You are wise beyond your years.

[jaxon]

6 minutes ago, Mike Lister said:

The original visa, which ever one you get, expires after one year or if you time it right, you can squeeze two years out of it. Thereafter, you don't have a visa but you can extend your stay, year by year, on whatever basis you decide upon. The reason for your visa and the reason for your extension of stay is all important, not the visa itself so much. My initial visa was an OA, for the purpose of retirement. When the new insurance law was introduced, I changed my reason for stay from retirement to marriage which meant I was excluded from the insurance regulation. As you can see, I may have had an OA visa at one time but all that matters now is that I'm granted an extension of stay on the basis of marriage, my initial visa type is largely irrelevant.

 

If it was me, I'd go for an O visa, most people I know are on them but many very old expats might be on OA's because they were recommended at one point.

 

Thanks. How is it possible to squeeze nearly two years out of the O visa?  I thought the O visa was just available single entry.  

 

 

 

[Mike Lister]

3 minutes ago, jaxon said:

 

Thanks. How is it possible to squeeze nearly two years out of the O visa?  I thought the O visa was just available single entry.  

 

 

 

There are various types of O visa with different durations, I'm pretty certain there are 90 day and one year O visa's but perhaps others more knowledgeable can confirm the range. Also, I don't know if you can squeeze 2 years out of an O but you can out of an OA by leaving and returning just before the visa expires.

Edited December 11, 2023 by Mike Lister

[CartagenaWarlock]

I have sold two condos in the US but kept the house I bought a long time ago. During the summer, it needs yard maintenance. After receiving a fine from the city for having tall grass in the yard, I hired a company to mow once per month from April to November. I don't rent it. I used to rent my condos to AirBNB using an AirBNB management company for 25% of the full service. Great investment during the low interest rate in the past. You put down 5% and get the condo, and then rent it on AirBNB. My condos were in Las Vegas and Fort Lauderdale. The house is in IL, which I still own. 

[BritManToo]

18 hours ago, NextG said:

Rent a studio WHERE for £600? ☺️
Cannot be referring to London. 

600 pounds a month back in the UK won't get you a room in a shared house.

[BritManToo]

8 minutes ago, jaxon said:

 

Thanks. How is it possible to squeeze nearly two years out of the O visa?  I thought the O visa was just available single entry.  

 

 

 

O VISA is 3 months, multi entry O VISA is as many 3 months as you can fit in a year = 15 months.

OA VISA is 1 year, but you can enter again just before it runs out and get another year ..... but needs health insurance.