HSBC Survey: Thailand Is The Best Place To Live After Retirement

[wildoates]

I guess the saying of "that is where dreams come from"

[ronthai]

I once was interested in opening a bank account based in Thailand in found out that for just getting a new account you MUST have a start balance of $10.000 USD. I guess that most retirement people will not have that amount, so the survey is not realistic, if done only with people whom can afford a HSBC account.

[hellodolly]

I once was interested in opening a bank account based in Thailand in found out that for just getting a new account you MUST have a start balance of $10.000 USD. I guess that most retirement people will not have that amount, so the survey is not realistic, if done only with people whom can afford a HSBC account.

Balderdash

I have two accounts and needed no minimum deposit to open either one.

sounds like you were trying to get some sort of special ac count. I know back in Canada they have those where you have to open with a minimum amount of money.

Go to the bank of Siam.

[OneZero]

Quote:

"The 2011 survey has found that tax exemptions, affordable living expenses, and reasonable living condition are the reasons that Thailand has been chosen as the most habitable place in the word for retired foreigners".

The primary measurement criteria for country of choice were as stated above. I guess the TAT desires to hide the most significant criteria: the relative availability of female companionship here in Thailand. Like we all tell our mothers, we sold or gave away all of our kit & moved lock stock & barrel to Thailand for the Thai food and the ease of access to Indian tailors.

[TallGuyJohninBKK]

I think the OP post and the survey results are cracked especially seeing the 2nd and 3rd rankings.... although, Thailand certainly is at least among the better retirement options around...

But when I read the following item in the OP, I knew someone was smoking some serious sh....

In the views of the respondents, tax exemptions offered by the Thai government allows foreigners with a limited income or even those who have no regular income to live comfortably after retirement.

That's going to come as a big surprise to the Thai Immigration Bureau, which is responsible for enforcing their retirement visa regulations of minimum 65,000 baht in monthly income or 800,000 baht on deposit every year in a bank in Thailand, (or a combination of the two).

If someone has no regular income, how exactly would they be affording to live here day to day and also maintain an 800,000 Thai bank account balance year after year after year?

And what kind of Thai government tax exemptions are going to come into play for someone who's retired here, presumably on a retirement visa/extension of stay, and legally prohibited from working on said visa? Yeesh!!!

Edited October 2, 2011 by TallGuyJohninBKK

[billd766]

I once was interested in opening a bank account based in Thailand in found out that for just getting a new account you MUST have a start balance of $10.000 USD. I guess that most retirement people will not have that amount, so the survey is not realistic, if done only with people whom can afford a HSBC account.

Most of the bank accounts I have opened (and closed some) I deposited 1,000 baht which is about USD$ 9,970 less than you mentioned.

I guess I must be a hansum man.

[Ricardo]

Perhaps now they will open branches, to serve their loyal-customers, in Pattaya & Phuket & Chiang Mai ? Or perhaps not ... what do banks care, about service and existing-customer ?

[uptheos]

Like we all tell our mothers, we sold or gave away all of our kit & moved lock stock & barrel to Thailand for the Thai food and the ease of access to Indian tailors.

Not to mention endless wandering around temples..

[lopburi3]

I once was interested in opening a bank account based in Thailand in found out that for just getting a new account you MUST have a start balance of $10.000 USD. I guess that most retirement people will not have that amount, so the survey is not realistic, if done only with people whom can afford a HSBC account.

Most of the bank accounts I have opened (and closed some) I deposited 1,000 baht which is about USD$ 9,970 less than you mentioned.

I guess I must be a hansum man.

Have you tried to open an account with HSBC or other single standing foreign bank? They normally do want a whole lot more money to open an account than a Thai owned bank.

For HSBC it is 100k baht account or 10k USD or equivalent for foreign currency account:

Initial Deposit THB 100,000 USD or applicable currency equivalent to USD 10,000

http://www.hsbc.co.th/1/PA_1_2_S5/content/thailand/thailand-pws/01-home/tariff/tariff_pfs.pdf

[softgeorge]

I once was interested in opening a bank account based in Thailand in found out that for just getting a new account you MUST have a start balance of $10.000 USD. I guess that most retirement people will not have that amount, so the survey is not realistic, if done only with people whom can afford a HSBC account.

I opened an account with K Bank and had to deposit minimum 100 baht ,

[softgeorge]

Country Rank

Thailand 1

Egypt 2

Saudi Arabia 3

Singapore 4

Switzerland 5

Mexico 6

Philippines 7

Japan 8

Hong Kong 9

Malaysia 10

United States 11

United Arab Emirates 12

Bahrain 13

South Africa 14

Russia 15

Brazil 16

Qatar 17

Vietnam 18

Canada 19

Australia 20

India 21

Belgium 22

Spain 23

Turkey 24

China 25

New Zealand 26

United Kingdom 27

Germany 28

France 29

Italy 30

Netherlands 31

http://www.expatexpl...alse&load=false

Geez they put Australia a little high up the list at number 20. The Australian Government could not care less about it's elderly.

Speaking of Australia I had heard that the Australian retirees don't have to report to immagration every 90 days. I was told that in order to get their pension they had to go home to Australia every 90 days.

Any one have knowledge of that.

I don't know about the reporting conditions for aussies but I believe in regards to thier pensions if they are out of the country more than 90 days they lose the pension or they maybe able to stay in Thailand longterm but the pension will be adjusted to Thai standards probably minimum thai wage 300 baht. Just what I have heard but I would suggest asking centrelink. Long way off for me at the moment.

[Jingthing]

I also can't take this survey seriously. Better source -- International Living. Don't think they have ever mentioned Egypt and Saudi as retirement spots.

[gemini81]

Mexico is 6th?! God almighty! Those who said that've never been there. Well, if you don't count the dope, police everywhere with sub machine guns and robberies as well as mafia........What about Laos? Gotta be on the map some where, c'mon.

[Jingthing]

Mexico is 6th?! God almighty! Those who said that've never been there. Well, if you don't count the dope, police everywhere with sub machine guns and robberies as well as mafia........What about Laos? Gotta be on the map some where, c'mon.

Actually, there are still nice, safe areas in Mexico for retirees. Plus they have an excellent pension based retirement visa program, one that is more liberal for those owning their homes there.

[wiscoman]

I really do not understand how Egypt and Saudi Arabia can be 2nd and 3rd, especially saudi arabia what were the parameters of the poll? A friend of mine taught in an international in Saudi Arabia for 5 years, mostly for the great pay, and lived in a compound. Aside from north korea, he said it was quite possibly the worst country in the world to reside, as you feel like a prisoner with very little freedoms; you cannot even have a sip of beer there without getting lashed.

[Kwasaki]

Another garbage out of touch survey

HSBC just another load of scumbag bankers talking a load of tosh.

Couple in UK come and retired Thailand so £18,000 each approx = £36,000 for retirement visa and their joint UK frozen pension, they can live like royalty. :lol:

[tommyboy928]

Since when can a Retired Person move to Saudi Arabia? You would have to be Retired and crazy to move there!

Agree , is not a place to be, 45 deegre in summer , not a women to look at when sit at a cafe , or maybe they bring with them women from other countrys, atleast they dont have the problem with terribble women drivers in the trafic ))

[gamini]

Since when can a Retired Person move to Saudi Arabia? You would have to be Retired and crazy to move there!

You are not allowed to drink alcohol in Saudi your wife can't drive and it is extremely expensive since everything is imported. .

No body could afford to retire to Singapore unless you are a millionaire. Its a great place to work, but no-one retires there So the survey is ridiculous.

I would have thought Malaysia would be the top place. You can get a 10 year multiple entry visa and a duty free car and buy property. Everyone speaks some English and it is cheaper than Thailand.

[Jingthing]

Something very fishy about the article in the OP. Go to the actual link from HSBC and you can see the survey is of regular expats, not retired expats. In that case, Saudi and Singapore makes sense, being a high earning places for working expats.

From a retirement point of view, many of the countries are completely absurd. For example, the USA. No visa option at all for expat retirees.

Edited October 2, 2011 by Jingthing

[ralphlsasser]

Since when can a Retired Person move to Saudi Arabia? You would have to be Retired and crazy to move there!

Seriously mentally unstable

[rakman]

Since when can a Retired Person move to Saudi Arabia? You would have to be Retired and crazy to move there!

If you're Muslim, it's no problem.

If not, probably not a good choice.

With the Middle East unrest, the whole Middle East is probably not great place to retire to, regardless of your status.

[rakman]

Mexico came in 6th. It is too dangerous there to even vacation never mind retire. I should also mention it seems the British have discovered Canadas great potential for retirement and are going there in increasing amounts to retire.

It is hardly a tropical paradise, still I supposed they are used to the cold!

A lot of Canadians come south for the winter..

[Kered]

Well all i can say is the other Country's the retired expats poled live in must be complete #hit holes..as Thailand is far from brilliant; I guess the poled expats here were questioned at the entrance to a Birthday party with 20 baht drinks all night in A-gogo In Pattaya and on their first 3 months of retirement here.

Anyone who believes these Banking PR stunts need to get out more, sorry if this upsets some people but I lost my rose tinted glasses in Thailand a couple of decades ago..i am only here to make money nothing else.

Thailand is not the place to make money but it is a great place to spend it, as most retirees do. Many do not realise how well off they are in Thailand taking everything into account. As a contributor I can assure you that the HSBC survey is genuine but may be influenced by the standard of HSBC customers and the locations where HSBC operate.

[Berkshire]

Dam_n. Now that the word is out, more expats will be coming to Thailand. Which can only mean one thing--MORE FREAKIN WHINING. Maybe the whiniest expats can leave and make room for the new whiners?

[Berkshire]

It never fails, any positive news about Thailand and the Thai Bashers Brigade^tm (TBB) are out here in force swearing it ain't so. Not a surprise though. Thailand could be responsible for finding a cure for all cancers and discovering a source for true perpetual motion and the TBB would still found something to whinge about.

So true. I wish these a**holes (aka TBB) would freakin leave Thailand already. Their high-pitched whining day-after-day is beyond tired.

[Jingthing]

The survey is genuine, but it is NOT about retirement destinations.

[robint]

Hey Guys

Saudi is a wonderful place to live

Sunshine all year round

Beautiful beaches

Spectacular scenery

Cheap property and domestics

Good health care

Cheap booze (ah you didn't know that - 1 litre homebrew shmirnoff blue 80% (equivalent) £3.50)

Great Shebeens and social life

Wonderful food - try a mutton grab

Camping and BBQs

and especially welcoming to pink TEFLERs who dominated the teaching trade

You have to experience the frissant when a young camel winks her beautiful long lash brown eyes at you - WOOOAAH

Cant think why all you pervs are living in LOS

555

[asiaexpat]

I might suggest, having actually read the report, that the survey was of expats in general and and was not just retired expats.

lopburi3 gave the url soall can read it.

[Jingthing]

I might suggest, having actually read the report, that the survey was of expats in general and and was not just retired expats.

lopburi3 gave the url soall can read it.

Exactly.

The OP should be CORRECTED.

Edited October 3, 2011 by Jingthing

[asiaexpat]

very

Edited October 3, 2011 by asiaexpat