Can A Type "O" Retiree Earn Thai Investment Income? From Bonds, And Renting Out A House?

[paddypower]

I think I will open a new topic on this. I have lived here for 15 years. I have a couple of rental properties. File my Thai tax return every year. On another topic, someone wrote that I cannot own an investment asset which generates income here?

For example, as a retiree, type O, can I own bonds and ''earn' interest income? Can I own a house or apartment and earn rental income? Thanks, Patrick.

[InterestedObserver]

It is generally accepted that a retiree cannot get a work permit. As long as you are paying Thai income tax on your assessable income, I see no reason to worry about your visa or extension of stay status. Property ownership is a separate subject all together.

[Mario2008]

I see no trouble with that, as long as you don't work. (Such as do the repairs yourself if you rent out a house).

[lopburi3]

I said as retired you would likely have a hard time using "Thai based income" to support an extension of stay for retirement.

I did not say you "cannot own an investment asset which generates income here?"

[Jingthing]

I would put this another way. I feel you would under some risk of challenges and questions from immigration about this. There is always the chance you will encounter an officer who has a problem with Thai based investments/rents being used to qualify as income for retirement extension qualification. Any applicant is always subject to such questions. Someone with a solid 800K in the bank or with an unambiguous foreign pension has no worries at all. You might. People may argue that legally you are completely in the clear or completely disagree with me about this, so just take this as a very subjective personal opinion. I think rents in particular could be a grey area. Surely management of a rental property could easily be interpreted as WORK, and work of any kind is prohibited for these extensions.

Another point. You may indeed hear from ten people who say they are doing this with no problem. That would be comforting and good to hear. However, it wouldn't mean that tomorrow you won't encounter an officer who questions you about what you are doing.

If I were you, I may give it a try and see what happens, but it would be ideal if you had a backup plan, such as the ability to fund an 800K account.

If I am completely off base here, I am sure one of the official visa experts here will attack my point of view. I welcome that for your sake.

[BWPattaya]

I have a retirement O-A. Whilst I have had this visa I have also had a work permit. No problems renewing the visa at immigration as I still used income from abroad for renewal/extesion purposes.

[Jingthing]

I have a retirement O-A. Whilst I have had this visa I have also had a work permit. No problems renewing the visa at immigration as I still used income from abroad for renewal/extesion purposes.

Interesting, but in general people staying here on extensions based on retirement CANNOT get work permits, as not working in Thailand is an explicit condition of such extensions.

[hunglikea]

I see no trouble with that, as long as you don't work. (Such as do the repairs yourself if you rent out a house).

So if my 'wife' buys a guesthouse or restaurant and I just advise her how to run it as I haven't a WP, will that be OK if we are living off the earnings, as we will be generating an income from an investment?

[Mario2008]

If your wife buys a restaurant, the earning will be hers and cannot be used to proof your income to immirgation. If she hires you as a consultant, you will need a work permit.

[InterestedObserver]

Interesting, but in general people staying here on extensions based on retirement CANNOT get work permits, as not working in Thailand is an explicit condition of such extensions.

Can somebody cite the regulation preventing obtaining a work permit while on a retirement extension.

[lopburi3]

With very few exceptions the labor office will not issue a work permit on a retirement extension of stay. I suspect they view 'retired' and 'work permit' as incompatible.

[wpcoe]

I have a retirement O-A. Whilst I have had this visa I have also had a work permit. No problems renewing the visa at immigration as I still used income from abroad for renewal/extesion purposes.

How recently did you have a work permit on a retirement visa/extension?

Your post could be read to mean you have done it in the past, and that actually was true: some offices DID used to issue work permits on retirement visas/extensions, but not too long ago (a year ago? two?) I recall reading here that all offices were in agreement to no longer issue them.

[Jingthing]

Yes, I also recall previous reports of exceptions.