Retirement Problems In Thailand

[camerata]

What problems - if any - have you had as a result of your retired status in Thailand? Have you had problems paying taxes, opening a bank account, getting a credit card, getting a driving licence, or getting anything? Have you lost anything due to your retirement status and resulting lack of work permit or reduced income? The reason I ask is that a work permit is required to do just about anything these days and I notice that foreigners are required to have an income of 50,000 baht to get a credit card.

[bunnaag]

What problems - if any - have you had as a result of your retired status in Thailand? Have you had problems paying taxes, opening a bank account, getting a credit card, getting a driving licence, or getting anything? Have you lost anything due to your retirement status and resulting lack of work permit or reduced income? The reason I ask is that a work permit is required to do just about anything these days and I notice that foreigners are required to have an income of 50,000 baht to get a credit card.

I had no problems to open a bank account and also no problems to get a driving licence,but I could not get a credit card.I tried all the leading banks.However Bank of Ayuttaya offered a debit card.I got now a credit card from my bank in Europe.

[Raesum]

Yes to get a credit card you would be asked about your income in any country.

I have never had a work permit and found opening a bank account and getting a drivers license did not require my financial staus to be revealed. In fact the drivers license really helps as I use it to get into places at "Kon Thai" rates. The one thing with the drivers license is thay do need alot of paperwork which includes the kind of visa you are living here on. Having one of those house books that states you live at such and such address has also been helpful.Need to amend this at your local amphor and they will then issue book.

I don't feel I have "lost" anything but have certainly gained alot living here in LOS

[PattayaParent]

The only problem that I have had with retirement in Thailand is that they won't let me have a retirement visa until I am 50.

They seem to think retirement is an aged based thing rather than a wealth based thing.

[bkkjames]

What problems - if any - have you had as a result of your retired status in Thailand? Have you had problems paying taxes, opening a bank account, getting a credit card, getting a driving licence, or getting anything? Have you lost anything due to your retirement status and resulting lack of work permit or reduced income? The reason I ask is that a work permit is required to do just about anything these days and I notice that foreigners are required to have an income of 50,000 baht to get a credit card.

Problems at Thai Farmers Bank there Cam?

[GuestHouse]

The only problem that I have had with retirement in Thailand is that they won't let me have a retirement visa until I am 50.

They seem to think retirement is an aged based thing rather than a wealth based thing.

Perhaps the Thai authorities understand all to well that Farangs claiming to be independently wealthy are almost always telling porkies.

And while I doubt they predicted it I'm quite certain there are plenty of people who in the last 12 months have watched their wealth half while their age has gone up a year.

[camerata]

Problems at Thai Farmers Bank there Cam?

No, everything went fine since I have a work permit and PR. But it started me wondering how smooth things will be when I retire. In particular, I'm wondering if credit card companies do a re-check on income after a card holder reaches 60.

[Felt 35]

No...except nobody believe I’m retired, included Immigration

[PeaceBlondie]

Camerata, since you have PR, I guess you need not worry about a visa. I know nothing about work permits but have gotten three B visas, lots of extended O visas, four drivers' licenses, and about 7 bank accounts, all without ever having seen a WP in the flesh. My cc company has not verified my income in ten years, but I have not applied for a new credit card.

[Jingthing]

No...except nobody believe I’m retired, included Immigration

I got grilled the first time by immigration because they thought I didn't look geezerly enough. They even accused me of presenting a fake passport. The noive.

[camerata]

My cc company has not verified my income in ten years, but I have not applied for a new credit card.

I suspect a new credit card would depend entirely on provable income and time in-country. I've been wondering, though, if the tax people get suspicious when an expat suddenly drops from a managerial salary to a modest pension, or starts living off savings.

[Jingthing]

My cc company has not verified my income in ten years, but I have not applied for a new credit card.

I suspect a new credit card would depend entirely on provable income and time in-country. I've been wondering, though, if the tax people get suspicious when an expat suddenly drops from a managerial salary to a modest pension, or starts living off savings.

The latest trend with credit card companies internationally is to make credit tighter and even to lower credit limits. It happened to me lately on one of my US cards for no stated reason. I read that as far as credit card companies are concerned with the global economy melting down as it is, hardly anyone is a really good credit risk.

[abdulrahman]

What problems - if any - have you had as a result of your retired status in Thailand? Have you had problems paying taxes, opening a bank account, getting a credit card, getting a driving licence, or getting anything? Have you lost anything due to your retirement status and resulting lack of work permit or reduced income? The reason I ask is that a work permit is required to do just about anything these days and I notice that foreigners are required to have an income of 50,000 baht to get a credit card.

Getting a Thai CC is quite impossible,for me.at least,from a Thai Bank.

Tried BKK,SCB,Kasikorn,no way without the work permit.May be if You have already one you may hold it.

Not a big problem,but need another account with,for example,HSCB.

[MinnieCauldwell]

The only problem that I have had with retirement in Thailand is that they won't let me have a retirement visa until I am 50.

They seem to think retirement is an aged based thing rather than a wealth based thing.

LOL you aren't joking, stupid isn't it? You have to be 50, regardless if you have enough to settle down on, I think wait a while, they will either need the money or close the doors! You could always get married, that reduces the outlay, but also ups the Ante!

[benjamat]

The only problem that I have had with retirement in Thailand is that they won't let me have a retirement visa until I am 50.

They seem to think retirement is an aged based thing rather than a wealth based thing.

LOL you aren't joking, stupid isn't it? You have to be 50, regardless if you have enough to settle down on, I think wait a while, they will either need the money or close the doors! You could always get married, that reduces the outlay, but also ups the Ante!

Why?