Ret.Visa-House

[mr.buffalo]

I have a little house near Bang Chang worth roughly 2mill baht. I went the company route instead of the girlfriend one ( not have 1 ) in buying it. I know all the rules about falangs not being able to own land etc so an update of that is not required. I am 57 and my question, is could I use the house as collateral in getting a retirement visa?

Thanks for any answers and have a good day.

[NancyL]

No. The rules are either income of 65,000 baht/month or 800,000 baht in a Thai bank account (or a combination).

[Lite Beer]

Nope. Savings, income or a combination of the two.

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[mr.buffalo]

Thanks chaps. Got it.

[mr.buffalo]

So how does the mix work? I have an income of roughly 50,000baht here in the UK a month. How much would I need in my Thai bank account to qualify?

[bobl]

"roughly" 200k Put a little more to err on the side of caution.

Apparently (going by months of reading these forums), 799,999.99 baht doesn't cut it, they're very picky about it being at least 800k.

[Lite Beer]

Yes. Around 200,000 Baht in the bank

[Jingthing]

The good news is that the money in the Thai bank doesn't need to be seasoned at all when using the combo method. Watch the exchange rates carefully before you go in, and if you're short, add more.

[mr.buffalo]

So 12 x 50,000 = 600,000 thus the remainder from the 800,000 is 200k to be in an account. Seems reasonable enough. Thanks.