How to retire in Thailand

[KhunLA]

4 hours ago, max72 said:

I am sorry if this question has already been answered , for sure it has but searching into thousands of messages it's not easy ,so forgive me if i ask again:

 

For 1 year retirement visas based on 800K in the bank account and 50yo age, is there a minimum stay in Thailand for the visa not to be cancelled or a number of permits of exits a year ?

For example when i renew the 1 year visa , do they check if i stayed minimum ....say..... 180 days out of 365 or exited no more than 2/3 times etc..something like that ?

No problem with the 800K, i just want to know if i go to visit my family or travel around, i want to make sure my visa is not cancelled without the need to make the whole process again. 

Thank you in advance

Not a problem, as they don't care.   You can get the multi entry version, used to be 3800 baht, (vs 1900), or an exit stamp every time, and used to be 1000 baht per exit.   Do your 90 day pulse checks online.   

 

I think that's correct, if not, someone will be along to correct me.

[JimTripper]

On 5/2/2024 at 7:06 PM, Gknrd said:

About 4 years ago. Was back last year for a few months. Until the pollution got to bad.  I still come back occasionally. Just to visit friends. But, let's face it. It's a shi$$ hole now.. This time of the year.

People here are great at putting a positive spin on anything as they enjoy living in shoebox rooms, walking around in flip flops and drinking weak pisswater beer. Those who complain are marked as trolls.

[khlongtoey]

On 6/29/2024 at 8:06 PM, max72 said:

I am sorry if this question has already been answered , for sure it has but searching into thousands of messages it's not easy ,so forgive me if i ask again:

 

For 1 year retirement visas based on 800K in the bank account and 50yo age, is there a minimum stay in Thailand for the visa not to be cancelled or a number of permits of exits a year ?

For example when i renew the 1 year visa , do they check if i stayed minimum ....say..... 180 days out of 365 or exited no more than 2/3 times etc..something like that ?

No problem with the 800K, i just want to know if i go to visit my family or travel around, i want to make sure my visa is not cancelled without the need to make the whole process again. 

Thank you in advance

 

did you find an answer, I too am interested.

 

esp now with the DTVs, btw does one need a 2nd proof of ongoing business /education  or just the initial one with a letter from a school?

[georgegeorgia]

On 7/19/2024 at 10:50 AM, JimTripper said:

People here are great at putting a positive spin on anything as they enjoy living in shoebox rooms, walking around in flip flops and drinking weak pisswater beer. Those who complain are marked as trolls.

These people are "acclimatised" to bring detained.

I was in view talay 2B where elderly residents would go to their shoebox rooms same time everyday they locked in by the guards .

 

Some didn't even have a balcony but that was the only life they knew .

 

[martyn1]

Will be 800k deposit taxed, if I stay more than 180 days? Or better to apply in July?

[Mike Teavee]

On 7/31/2024 at 11:04 AM, martyn1 said:

Will be 800k deposit taxed, if I stay more than 180 days? Or better to apply in July?

It doesn't matter when you apply, it matters how long you spend in Thailand in the calendar year you apply (Time in country on a Visa Exempt stamp counts as much as on any other Visa). 

 

Whether it will be taxable or not depends on:-

1. If you're Tax Resident (i.e. spend 180 days+) in the year you remit it - If not, no tax.
2. What the source of that income was, E.g. if it's from pre 1/1/2024 income/savings then no tax.
3. What it says in your country's DTA around income that's already been taxed (i.e. can you claim any tax paid in your home country as a credit against Thai Tax)    

... For points 2 & 3 don't forget that you'll be remitting money to live on so this would need to be added to the 800K when calculating your total tax bill. 

 

FYI,  A Single UK guy <65 remitting 1 Million THB of assessable income that has already been taxed in the UK would be roughly tax neutral when it came to owing Thai Tax.

[martyn1]

Thanks.

 

So this 800k deposit for retirement, which is required and I cannot touch it, has no special treatment and is just income brought into Thailand and subject to tax?

 

By July I meant if I come to Thailand in July and transfer and apply for retirement , I am not tax resident in given calendar year by 180 day rule.

Edited August 1 by martyn1

[Mike Teavee]

57 minutes ago, martyn1 said:

Thanks.

 

So this 800k deposit for retirement, which is required and I cannot touch it, has no special treatment and is just income brought into Thailand and subject to tax?

 

By July I meant if I come to Thailand in July and transfer and apply for retirement , I am not tax resident in given calendar year by 180 day rule.

There's been no announcements to say it would be treated any different than you sending any other money over (Same is true when sending money for a Condo purchase which you'd also think they would want to encourage0. 

 

If you have spent no time in Thailand this year & came on 5th July then you would be non-Tax resident for the year so free to bring over anything you like... Obviously if you've already had a 2 week holiday here earlier in the year then the date would be pushed out to 19th July etc... 

 

[bkk6060]

2 hours ago, martyn1 said:

Thanks.

 

So this 800k deposit for retirement, which is required and I cannot touch it, has no special treatment and is just income brought into Thailand and subject to tax?

 

By July I meant if I come to Thailand in July and transfer and apply for retirement , I am not tax resident in given calendar year by 180 day rule.

Come in July you can stay 1 full year tax free.  6 months this year, then the first 6 months of 2025.

[martyn1]

so basically you should bring large amount of money to your thai bank account, say covering life expenses for at least a year,  in the year when you are not a tax resident, and that amount is forgotten/not subject to tax in the next/following years?

 

i guess you can invest it, or put on fixed deposit, or open trading account in thailand and buy some us/world dividend etf/stocks?

 

Edited August 2 by martyn1

[max72]

I have  a couple of questions since rules have changed so many times.

 

The first time i extend a 0 90 days visa to a 1 year extension based on 50yo+ 800K, do they ask me also for any medical certificate or insurance and a rent contract ?

 

I heard they no longer ask for insurance inside Thailand, but what about a month by month contract ?= because i read somewhere they ask a 6 months+ lease. 

 

Second question: about the 3 months reports.

Once i get the 1 year visa , if i go out few months , i get the re-entry permit in the airport (right ?) but what about the 3 months report if i am outside the country when it's due ? 

for example if i have to report on 30 June but i go out from 1 june to 30 august, what about that deadline ?

I have to report when i come back and skip the online report when i am outside ?

Edited 2 hours ago by max72

[GammaGlobulin]

On 4/29/2024 at 9:05 PM, Jingthing said:

Taiwan isn't a realistic place to "retire" to -- visa-wise.

 

Yes it is.  However, you might need about USD250,000 to invest in a "company"  you set up, in order to do so.

 

(Are you now on sabbatical? Haven't seen a post from you in....ages.)

 

Anyway, if you are glutton for punishment....then....by all means....retire to Taiwan.

 

 

Edited 1 hour ago by GammaGlobulin

[Mike Teavee]

1 hour ago, max72 said:

I have  a couple of questions since rules have changed so many times.

 

The first time i extend a 0 90 days visa to a 1 year extension based on 50yo+ 800K, do they ask me also for any medical certificate or insurance and a rent contract ?

 

I heard they no longer ask for insurance inside Thailand, but what about a month by month contract ?= because i read somewhere they ask a 6 months+ lease. 

 

Second question: about the 3 months reports.

Once i get the 1 year visa , if i go out few months , i get the re-entry permit in the airport (right ?) but what about the 3 months report if i am outside the country when it's due ? 

for example if i have to report on 30 June but i go out from 1 june to 30 august, what about that deadline ?

I have to report when i come back and skip the online report when i am outside ?

 

If your visa is a Non-IMM O (Usually got in country or from an Embassy in a nearby country) then you do not need medical insurance.  If your visa is a Non-IMM OA (Always got from home country or a country where you have permanent residency rights) then you will need Health Insurance. 

 

I don't think you have to have a >6 month rental contract as I'm sure there are quite a few guys who are more long term holiday makers & stay in hotels, with partners etc... but you will almost certainly need a TM30 which your hotel should provide for you - If you're staying with somebody then they should be able to register online & do your TM30.

 

 

 

 

When you leave Thailand your 90 day report requirements stop & restart at Day 1 when you re-enter so if you came left Thailand on 1st June there would be no need to do your 90 day report on 30th June & when you came back on 30th August your next 90 day report would be due 27th November. 

 

Edited 17 minutes ago by Mike Teavee