31 Years Old With Passive Income Who Wish To Live In Thailand.

[YanCento]

Hi all,

I'm 31 years old, I am currently getting a passive income of 3000 usd/month.

I got to this point after very hard work and some wise investments, and all was done for one goal, to get enough passive income to allow me to live in Thailand in a decent manner.

According to how I see it and based on past experience in visiting Thailand, 1000 usd/month would be enough for a nice apartment, the rest 2000 usd would be sufficient for living, spending and an occasional flight to visit the family.

I personally need nothing more in life:)

After reading a lot in the forum, the only option I see for myself is a 5 years Multiple ED-Visa, but I wondering what would I do after those 5 years?... Can i continue studying something else and get additional 5 years? and than again something else?

I am afraid to build a life in Thailand, only to find out after 5 years that my visa is not renewed, while the life i've built and all of my belongings are left in the apartment...

Terrible situation which I must solve before moving to Thailand.

Thank you in advance for your suggestions/comments!

Yan.

[Thailand4life]

You wont get a visa for 5 years. You will get a one year visa that you have extend every 3 month and after the year is up, you need to take a test in order to "renew" your visa for another year.

Your alternative is a tourist visa.. Some people have 10, 15 tourist visas in a row.. its not the norm, but its possible.

Also thai laws change quickly, so whats true today can be false tomorrow. Planning 5 years ahead on thai visa rules doesn't make much sense. Look at it at a yearly basis and life like that.

[transam]

Don't worry, you will be married in a week, no visa probs.

[ozzieovaseas]

Don't worry, you will be married in a week, no visa probs.

No probs with visa status but his wallet status will definately suffer

[YanCento]

Lol...

Well, funny you mentioned marriage...

I am really not interested in getting married, not in my country and not in Thailand.

Ultimately I would do what it takes to stay in the country, I wish I could just pay taxes on my income and that's it, however, since I don't have this option available(from the government side) I would have to waste money on things which will grant me visa (school/ "comfort marriage"..)

What a shame...

[wandrinstar]

:oDont Ring The Bell in a Beer Bar,thats one months cash gone.

[Jingthing]

Not married. Not working in Thailand. Not a major investor in Thailand. I see no visa option for you that will provide the residency SECURITY you seek in Thailand. You may want to rent and live light, and take it as it goes. There are some countries that would do you on those terms, but not Thailand, and it could get even tighter any minute. Cheers!

[ljerams]

So to which countries are you referring?

[Jingthing]

Ecuador definitely and can rather quickly become a permanent resident or even citizen. Possibly Argentina (also a residency option) but would have to check the current income levels for the non-pension income option. I think a few other Latin American countries. Someone that young who is looking for residence security needs a residency option, because if not, the rules will change over time, likely squeezing him out.

Edited August 14, 2011 by Jingthing

[technologybytes]

Hi Yan,

I did the same thing at 36 years old, I had an income that I thought was passive (ie that I didn't need to do much more in order to maintain it) and I moved to Thailand 10 years ago.. I recall asking the same kind of questions about visas and the answers I got on forums was basically the same as you are getting now... not at all helpful.

Being under 50 and unmarried means that you will not quality for extensions of stay without having to leave the country, but if you are happy enough to visit a border every 90 days and fly outside Thailand to Australia, US, UK etc once very 15 months then you will get along just fine with O visas.. it's what I have done with no fuss for 10 years now.

Things change, I used to be able to got to Penang in Malaysia and get visas but they don't usually issue O visas in Asian countries these days to non married/retired westerners, so the closest safe bet is Australia, but the UK or the US also have "friendly" consulates that are happy to issue visas with next to no fuss.

I never married, and my passive income wasn't as great as I thought.. My honest opinion is that if you think you can live for less money in Thailand than at home you will become unhappy here sooner or later, it can be cheap but cheap is not fun and at 31 years old you still need to be earning and saving or investing.

Forget ED visas, and I can't recommend tourist visas for purposes other than tourism, you need an O visa which is good for 15 months with 4 visits to a border 90 days apart starting 90 after you arrive.. 15 months in all..

Your best option is to plan to stay 1 year then review how you feel about it all, in that time you will learn a lot.

[moe666]

And for what reason will he be issued this O visa, not married nor retirement requirements. His option is education, tourist, or marriage. The o visa consulates have been shut down he may get a single non o but that is only good for 90 days. You can take university degree doesn't need to be a language course.

[thrilled]

stickmanbangkok says to live ok in bangkok it cost around a million baht A year.If your talking up country ISSAN country,you can probably live fine on half of that.Maybe alot lower.I know people at udonthani that live on 1000 baht A day.

[moe666]

stickmanbangkok says to live ok in bangkok it cost around a million baht A year.If your talking up country ISSAN country,you can probably live fine on half of that.Maybe alot lower.I know people at udonthani that live on 1000 baht A day.

What it takes to live on is up to you. But 1 million is only 30,000dollars a year. about 2500dollars a month.

[slackbaba]

The OP will have no problems living anywhere in Thailand in a nice but small flat, eating Thai food, traveling and getting his needs tended as well as a few trips to the bar for US1000/1500 (really half that in 2011). Personally, I would go to Cambodia or Malaysian Borneo. Then there is Vietnam....its far more expensive, the people are pretty money obsessed but many foreigners have settled.

OP I would recommend you settle in Cambodia. Thailand is so yesterday. Phnom Penh has really come up and just keeps getting more habitable every day. With a year multiple (easy) you can pop over to Thailand for a breather any time. 1x a year during cool season, get a double in Phnom Penh and hit the islands. In addition to that, you have Air Asia, Korean Air and China air all flying to US West coast and BC (presumption you are US or Canadian citizen). If you are a US cit you are eligible for a ten year visa to India as well. While India can be a hardship of sorts, you are young enough to handle it and like Cambodia, ride it into its day. In the beginning of the paragraph, I recommended Cambodia. If you just are not up to the challenge of this country - look to Malaysia. I became attached a few years ago and like you was sworn to life single. It happens. I am stuck with Thailand and all it's problems for foreigners. Surely I would be in Malaysia and or Vietnam right now.

I would first recommend you travel not just Asia but the world. I would start with all the great places that are well on their way to disappearing. Trip around the world will take anywhere from 2-5 years of your life. DO IT!

My largest concern for you is what your dollars will be worth decades from now. These people telling you three thousand US dollars a month will not suffice in Thailand are spendthrifts.

People that spend more than 1000US month in Thailand (add US500 for travel) have inability to adjust to real Thai lifestyle and blow the money on pricey accommodation, have girlfriends that are not really girlfriends ($), live in pubs and bars, not careful with the money they spend while traveling, always go upmarket for a hotel, insist on being led about by the nose by some visa service/travel agency when the do any sort of visa run. In fact, I would put B15k as a baseline for living in Bangkok (or Pattya). After that it's life style and needs fulfillment choices.

Don't rule out marriage. Maybe you will find a nice 35yo when you are 50. Malaysia is a great place to meet young Chinese women. Not at 31!!

PS: EDIT ] I would really impress upon the OP that you do not want to come to Thailand at this early age without seeing the world. You have decades to live here and enjoy what is left on offer. You will be ducking and dodging for a visa for years anyway. Take five and see the world. Doing this might also give you alternatives to Thailand. Thailand is definitely well past its sell by date and the only people this place should hold are the guys that are sort of stuck here (married, serious relationship, crazy enough to buy condo...). Well past it prime.

Edited August 15, 2011 by slackbaba

[AyG]

Assuming that your "passive income" is from investments, and that you're being prudent and taking no more than 4% per annum that would suggest your total investments are $900,000 or more. (If you're taking more than 4% you run the risk of eroding your capital over time.)

A serious medical problem could easily wipe out a third of that.

A falling in the exchange rate could quickly wipe out another third (assuming you're not fully hedged).

Then how would another stockmarket crash affect you? Or fraud? (Personally I've been hit by both the Weavering Capital fraud and the Arch Cru one, which has rather dented my finances.)

What about years of inflation? The current Thai government's policies seem to guarantee that that will skyrocket.

In short, you don't have enough capital to survive securely long term in Thailand.

Also, what would you do all day? Plenty of expats with too little to fill their time end up seeking the bottom of a whisky bottle.

On a more positive note, consider teaching English. The minimum for a contract to get a work permit is 12 hours per week - and you don't actually have to work that many hours. It would let you get a one year extensible visa and help you to meet people as well as give some structure to your life here.

[ludditeman]

Also, what would you do all day? Plenty of expats with too little to fill their time end up seeking the bottom of a whisky bottle.

On a more positive note, consider teaching English. The minimum for a contract to get a work permit is 12 hours per week - and you don't actually have to work that many hours. It would let you get a one year extensible visa and help you to meet people as well as give some structure to your life here.

@OP

I am in a similar situation and have just moved to Thailand.

I don't have Visa worries like you have.

@AyG

I am not elderly and poorly educated.

I have never had any problems filling my days and nights anywhere in the world, boredom is for those without imagination.

Living near civilisation in Thailand is the same as living anywhere in the west, Internet, Tv, books, etc.

Seriously who would want to work as a school teacher?

Only those who are very poor or very limited in their life options, which is not the OP or myself.

Edited August 15, 2011 by ludditeman

[AyG]

@AyG

I am not elderly and poorly educated.

Seriously who would want to work as a school teacher?

Only those who are very poor or very limited in their life options, which is not the OP or myself.

But you will be elderly one day if you're lucky. Not sure how that's relevant, though.

It's not just the very poor or those with limited options that teach here. I initially taught for a couple of years at a language school to secure a long term visa and absolutely loved it, meeting lots of interesting, enthusiastic students and getting to know them as well as getting a good feeling from knowing I was helping them develop themselves for work and leisure. I've now changed to an investment visa (I'm not poor), but still occasionally teach to cover teacher shortages and absences. It's a lot of fun.

[PoorSucker]

If you have 10 million baht to invest you can get a investment visa.

http://www.sunbeltlegaladvisors.com/Thailand-Investment-Visa.php

[keeniau96]

Forget the negativist comments re income, I do very well on less than what you are expecting. But the visa is a big problem, apparently insurmountable in Thailand. I would recommend extended stays in Thailand, then the Philippines and maybe Vietnam, Malaysia. If I had to do it over again I would opt for the Philippines instead of Thailand. They actually welcome long-stay visitors and retirees there, not just tolerate them.

[Richard4849]

Forget the negativist comments re income, I do very well on less than what you are expecting. But the visa is a big problem, apparently insurmountable in Thailand. I would recommend extended stays in Thailand, then the Philippines and maybe Vietnam, Malaysia. If I had to do it over again I would opt for the Philippines instead of Thailand. They actually welcome long-stay visitors and retirees there, not just tolerate them.

Your handle tells us a lot about how you get by on less than 100K per month.

[Naam]

If you have 10 million baht to invest you can get a investment visa.

http://www.sunbeltlegaladvisors.com/Thailand-Investment-Visa.php

The Investment can be a combination of the following, but must have been held in the Kingdom for at least 3 years...

have been held?

[fbombl337]

Citizenship. The suggestions to live here for one year on a trial basis and then decide your future after that are well founded. Even if you are 100% sure this is where you want to be. Ultimately, if you want to live here presumably forever then citizenship/residency is a viable option. Definitely not an easy option, but if you take the time and effort to become a fluent thai speaker (which you should) and adapt to thai culture, then by starting the process now, in a few years its possible to attain citizenship.

There are plenty of discussions on these forums regarding that issue...Give 'em a browse.

OR

Get a work permit. Also, much easier said than done, but if you can find a company back home that has locations in Thailand/Bangkok and they are willing to send you here, having a work permit is a very legitimate way to live here. Again, not easy to do, but possible.

[Jingthing]

Citizenship? He doesn't want to work here. I think you need a track record of tax payments.

[Mario2008]

Permanent residency and Thai nationality are only open to those who are working in Thailand with a work permit.

[YanCento]

Hi all and thx a lot for all of your feedbacks, I really appreciate it!

With regards to the issues you mentioned:

1. My passive income does not come from Capital (I don't have a lot of capital), it comes from years of brokering deals and it's basically the commission I get from deals that are done and will be made between all the parties involved (at this point, I am doing no work whatsoever, my work was already made)

If anything, this income will be higher with time.

I am willing to pay tax on this income, but in return I would like to get a work permit/something which will allow me to stay without the need of visa run.

2. There is no way for me to invest 10 mil and getting investment visa, I don't have this amount of money.

3. Too many visa runs (and the fear of one day not getting a visa while all my stuff are in the apartment) are the main obstacles I have at this point and I am afraid that too many visa runs will just cause me to feel that it's all way too much hassle and I am afraid that ultimately it will cause me to give up this dream (unless I find a proper solution)

4. Even if I wanted to become an English teacher (it's not for me personally), I am not a native English speaker and I personally think that only native speaking people should teach English.

5. What will I do with my time? well, here I have to agree with ludditeman, I have a lot of hobbies, I am a very friendly person and I plan to really build a life there, meet good people, read, hang out and do everything I would do back home, just in a much nicer and affordable place

I will also travel a lot, BUT it would be traveling light and always come back to my home in Thailand.

After living and working abroad for over 6 years (in which 1 years was in S.East Asia), I am fully aware of the bar/girls/night scene issues, and how if you are not really in control, might spend all your monthly allowance in a single day...

Been there, done that (many times actually..) I'm not sorry for anything, I had a blast!, but at this point of my life, the idea is to take control over my life and not to focus only on these things as they are not healthy to the body and to the pocket if you over do it.

If you learn to do things in moderation, you can have a very good life in this budget in my opinion (based on the short trips I've made in Thailand) .

6. Increasing living costs: I will live in a decent manner, if for some reason my money will not be sufficient for living comfortably, i will pack my things and fly out.

I don't mind moving to a smaller apartment and spending less when going out, However, I'm here to live well, not to suffer and think every time if I can effort a beer/night out on a daily basis.

7. I would love to learn Thai, I want to feel a part of the place and it is essential to speak the language if you want to really live in a place and feel a part of it.

Edited August 15, 2011 by YanCento

[p_brownstone]

Citizenship. The suggestions to live here for one year on a trial basis and then decide your future after that are well founded. Even if you are 100% sure this is where you want to be. Ultimately, if you want to live here presumably forever then citizenship/residency is a viable option. Definitely not an easy option, but if you take the time and effort to become a fluent thai speaker (which you should) and adapt to thai culture, then by starting the process now, in a few years its possible to attain citizenship.

Total nonsense.

Permanent Residency is the first step to Citizenship and even that is not at all easy.

"viable option" is not a phrase anyone who has experience of the process would ever use.

Patrick

[Jingthing]

Like I said before, Thailand offers nothing for you that will give you LONG TERM security to live here, based on your specific desires of what you are willing/able to do here. Perhaps you don't believe this, but to me, it is obvious. It's rather funny to me that you have been planning this for years and just now are looking into the visa viability of your dream.

If you want to stay for some years (not life) of course you can play the ED visa game. That's what I would suggest to you unless you don't want to invest your time here knowing it will be probably be temporary.

BTW, this is the visa forum so I think the emphasis should be on visas rather than financial viability (but on that part, I think the OP could swing it).

Edited August 15, 2011 by Jingthing

[p_brownstone]

Not wanting to be unduly contentious but I find the OP’s story very strange indeed.

He appears to have discovered the layabouts Mother Lode; in that, at a very early age, he somehow developed an unlimited source of income – nay, not just unlimited, but apparently pre-destined to increase over time, totally without further input or development from the OP.

Apparently not only is this income source totally inviolate – i.e. it can never be threatened by similar but more advanced “products” being introduced over the years - but the Seller / Licensee is content to continue paying a “Royalty” to the absentee OP, at the same time accepting that he, the OP, will never make any improvements to the “product” - to forestall newcomers invading and taking over the Market for example.

Finally I find it very difficult to believe that any young man who had the nous – the ability and intelligence – to create such a product or Service would be content to sit back, renting a cheap Baht 30,000.- Condo in Bangkok, waiting to watch his innovation being swamped by others.

Patrick

[englishinsiam]

There are numerous ways for people to create a passive income and with an internet connection he can still work in many different fields.

I have numerous income streams and have a similar monthly income to the OP I am 40... It is all internet based. And I earn my money in around 2 hours a day.

My advice to the OP is this

You can rent a nice little house not a Condo in Thailand for less than 10,000 Baht a month We have a nice little house in Pattaya for 8,000 Baht a month. Our total household bills incl Internet, electricity, water and Satelite TV are under 20,000 Baht a month so no need to pay 30,000 Baht ($1,000 USD) for rent alone.

Make sure you have plenty of things to do I go to the gym every day - do Kung <deleted> we go travelling and once a week go out for a blow out with the boys. Some evenings I'll have a couple of beers but try not to overdo it.

All those that say Thailand has nothing to offer you are the typical negative TV posters with their patronising views.

If you want to live here go for it and if I can offer any assistance then please PM me and if your moving to Pattaya I can introduce you to some good people (not the happy hour chasers).

Regarding Visas as thats your initial post, you have only 2 options to you. The extended tourist Visa or an Ed Visa many of my friends are going for the Ed visa even those over 50. This works for you as you want to learn Thai and going to Thai classes you'll fulfill the Visa requirement and will get a grounding in Thai.

One thing you'll need to do though is find a school that actually wants to teach you Thai. Many are just used as Visa fronts for people who don't qualify for other visas. And due to the tightening up on 'O' visas we'll see more of these sham schools setting up to cash in.

Good luck with your move

[Soutpeel]

There are numerous ways for people to create a passive income and with an internet connection he can still work in many different fields.

I have numerous income streams and have a similar monthly income to the OP I am 40... It is all internet based. And I earn my money in around 2 hours a day.

My advice to the OP is this

You can rent a nice little house not a Condo in Thailand for less than 10,000 Baht a month We have a nice little house in Pattaya for 8,000 Baht a month. Our total household bills incl Internet, electricity, water and Satelite TV are under 20,000 Baht a month so no need to pay 30,000 Baht ($1,000 USD) for rent alone.

Make sure you have plenty of things to do I go to the gym every day - do Kung <deleted> we go travelling and once a week go out for a blow out with the boys. Some evenings I'll have a couple of beers but try not to overdo it.

All those that say Thailand has nothing to offer you are the typical negative TV posters with their patronising views.

If you want to live here go for it and if I can offer any assistance then please PM me and if your moving to Pattaya I can introduce you to some good people (not the happy hour chasers).

Regarding Visas as thats your initial post, you have only 2 options to you. The extended tourist Visa or an Ed Visa many of my friends are going for the Ed visa even those over 50. This works for you as you want to learn Thai and going to Thai classes you'll fulfill the Visa requirement and will get a grounding in Thai.

One thing you'll need to do though is find a school that actually wants to teach you Thai. Many are just used as Visa fronts for people who don't qualify for other visas. And due to the tightening up on 'O' visas we'll see more of these sham schools setting up to cash in.

Good luck with your move

And it appears that you have forgot to add you have a Thai WP as well....

So may be a bit rich...passing comment on "sham schools"....