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.

[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?

 

[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 ?

[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.

 

 

[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. 

 

[Jingthing]

2 hours ago, GammaGlobulin said:

 

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.

 

 

250,000 in a company?

You proved my point for the vast majority of potential retired expats.

[BritManToo]

On 7/19/2024 at 7:50 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.

Plenty of 3 bed houses to rent in Chiang Mai at 10kbht/month. Why live in a small condo? (Unless you like that)

[JimTripper]

3 hours ago, BritManToo said:

Plenty of 3 bed houses to rent in Chiang Mai at 10kbht/month. Why live in a small condo? (Unless you like that)

They act like they like it and don't care about the shoebox room. I think it's just denial or financial difficulty. It was even worse in Cambodia.

[KhunLA]

3 hours ago, BritManToo said:

Plenty of 3 bed houses to rent in Chiang Mai at 10kbht/month. Why live in a small condo? (Unless you like that)

 

15 minutes ago, JimTripper said:

They act like they like it and don't care about the shoebox room. I think it's just denial or financial difficulty. It was even worse in Cambodia.

I need a full size kitchen, with lots of counter space.  I could probably get by with 2 burner gas hob & air fryer, but would limit my 'creativity' ... 

 

Our eat-in kitchen is 30m² alone, and give my 30m² more for bedroom/bath, and I'm happy.  That would meet my minimalist living quarters.   Don't need, or even have a living & dining room in present house.

[JimTripper]

10 minutes ago, KhunLA said:

I need a full size kitchen, with lots of counter space.  I could probably get by with 2 burner gas hob & air fryer, but would limit my 'creativity' ... 

 

Our eat-in kitchen is 30m² alone, and give my 30m² more for bedroom/bath, and I'm happy.  That would meet my minimalist living quarters.   Don't need, or even have a living & dining room in present house.

I agree. I can't live in tiny rooms unless I had to (35 sqm). I can do it short term if it has a window 😅 (a month max), but not long term. 95 sqm is comfortable for me. 

 

My point is, that many of these guys who live in the shoebox rooms use denial as a waybof coping with the situation. Trying to trick their mind into being happy with it.

[KhunLA]

4 minutes ago, JimTripper said:

I agree. I can't live in tiny rooms unless I had to (35 sqm). I can do it short term if it has a window 😅 (a month max), but not long term. 95 sqm is comfortable for me. 

Our house is ~125m² and the carport comes in handy, but realistically, I live in only 60m².   The rest is simply storing all the crap I've collected while here.  Or needed to maintain the rest of the house/garden, that isn't really a necessity to have.

 

If single, I could probably manage with a 50m² condo, as just cooking for 1 person.  But living out of 30-35m², would get old very fast.

[georgegeorgia]

17 minutes ago, JimTripper said:

I agree. I can't live in tiny rooms unless I had to (35 sqm). I can do it short term if it has a window 😅 (a month max), but not long term. 95 sqm is comfortable for me. 

 

My point is, that many of these guys who live in the shoebox rooms use denial as a way of coping with the situation. Trying to trick their mind into being happy with it.

Absolutely 

I tried for 6 weeks locked in a sweat box in the view talay 2B .it was hell.on earth !

4 walls ,tiny cubicle,loud noises 

Depressed 

I had to escape through the side fence near the cafe 

Had to make a run for it through the car park 

 

[JimTripper]

8 hours ago, KhunLA said:

Our house is ~125m² and the carport comes in handy, but realistically, I live in only 60m².   The rest is simply storing all the crap I've collected while here.  Or needed to maintain the rest of the house/garden, that isn't really a necessity to have.

 

If single, I could probably manage with a 50m² condo, as just cooking for 1 person.  But living out of 30-35m², would get old very fast.

I would include any garden or balcony area in the dwelling size. To me that's livable space. So it's really much larger then 125sqm. A 35 sqm dwelling on a large garden plot is great.

 

Thst's why large windows and light are so important. It feels like there is unlimited space even if it's a small condo.

[JimTripper]

8 hours ago, georgegeorgia said:

Absolutely 

I tried for 6 weeks locked in a sweat box in the view talay 2B .it was hell.on earth !

4 walls ,tiny cubicle,loud noises 

Depressed 

I had to escape through the side fence near the cafe 

Had to make a run for it through the car park 

 

You were on the bottom floor? No view probably made it feel much smaller. What facing side were you on?

 

A lot of the problem with VT2B for me (other then the shoebox room) was just felling like it was a dead end. It felt like a last stop for some reason that I can't quite put my finger on. Probably because of the older guys around and not many young people in their 20's-30's around.

[KhunLA]

1 hour ago, JimTripper said:

I would include any garden or balcony area in the dwelling size. To me that's livable space. So it's really much larger then 125sqm. A 35 sqm dwelling on a large garden plot is great.

 

Thst's why large windows and light are so important. It feels like there is unlimited space even if it's a small condo.

In that case, it's a half rai ... 

 

House sits on 1/4 rai, and the green house / garden, sits on another 1/4  opposite side of soi.  Might even be getting a concrete road soon 👍

[KhunLA]

2 hours ago, JimTripper said:

Thst's why large windows and light are so important. It feels like there is unlimited space even if it's a small condo.

Big fan of large window areas also, for the same reason.  All 3 house builds have / had lots of outdoor viewing.

 

Present one, dog's sofa and eat in kitchen look out onto & beyond the veranda.  Nice views, looking East from the doors below  and West from the front porch.

 

 

Last house, almost the whole North wall was glass, 2nd floor was open w/360° view ... 

 

 

First house, West wall was half glass ...

 

[JimTripper]

1 hour ago, KhunLA said:

Big fan of large window areas also, for the same reason.  All 3 house builds have / had lots of outdoor viewing.

 

Present one, dog's sofa and eat in kitchen look out onto & beyond the veranda.  Nice views, looking East from the doors below  and West from the front porch.

 

 

Last house, almost the whole North wall was glass, 2nd floor was open w/360° view ... 

 

 

First house, West wall was half glass ...

 

That's nice, but I'm not really interested.

 

I want to see some other users posting some small dismal rooms. Anyone here living in a shoebox want to post some pics and what you are paying?

[KhunLA]

4 minutes ago, JimTripper said:

That's nice, but I'm not really interested.

 

I want to see some other users posting some small dismal rooms. Anyone here living in a shoebox want to post some pics and what you are paying?

Can't see anyone doing that.  Who's going to admit that, way too embarrassing.  

[NativeBob]

On 8/2/2024 at 8:09 AM, martyn1 said:

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?

yes, good question @martyn1 That was my thought too. As long as my money is in Thai economy ...

 

@ CW I got negative reply - no investment / trading etc. Plain vanilla deposit.

Ok. I went to Bangkok Bank HQ @ Silom. The Big Kahuna manager said "yes, please buy Bangkok Bank mutual fund bonds" it will work just as good as deposit. (not a dumb teller, real manager).

So 2020 I "bought" 6 months something for 100K. I got passbook which was good and was accepted (at CW at non-formal request) and in 6 months I saw I made (mutual fund made for me, how sweet!) 1.700 thb on the updated passbook.

 

So I guess it was not wise at all. 

[NativeBob]

46 minutes ago, JimTripper said:

I want to see some other users posting some small dismal rooms. Anyone here living in a shoebox want to post some pics and what you are paying?

Friend of mine stays at Yannawa in lesser than shoebox. something 25sqm. Monthly bil rarely exceeds 6+K.

One of those private apartments of late 80s.

3 fans - ceiling "helicopter", wall mounted fan and the one that blows air into his computers rack.

He could easily afford 15K condo at one of those Life condos, but he refused it as a "waste of money". 

He has a few Youtube channels and does consultancy job for foreigners. Always busy and does well.

I think he lives like that for last 20+ years.

[georgegeorgia]

1 hour ago, NativeBob said:

Friend of mine stays at Yannawa in lesser than shoebox. something 25sqm. Monthly bil rarely exceeds 6+K.

One of those private apartments of late 80s.

3 fans - ceiling "helicopter", wall mounted fan and the one that blows air into his computers rack.

He could easily afford 15K condo at one of those Life condos, but he refused it as a "waste of money". 

He has a few Youtube channels and does consultancy job for foreigners. Always busy and does well.

I think he lives like that for last 20+ years.

I guess if it has a balcony it's much better 

No balcony , omg 

[Hummin]

On 7/19/2024 at 7:50 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.

I have been to UK, seen the brick houses with carpet on their toilets, how they are living their 8-16 life with fishing in the canal on their Sunday off, and their pub as their second home.

 

What you describing is an upgrade for them