Pesion And Property - Visa Requirements

[Blackandwhite]

I have never gone for pensions for my future, instead I have gone with investing in property with the idea it will return an income should we stay in their or Thailand,

For the purpose of visa requirements will this effect me ?? I will be looking to retire in about 7 years when I will be about 47 years old. Married to Thai we all presently,live in the UK. Not really wanting to start any new business when I live in Thailand so not planning to work or invest in Thailand as I am not sure I would be over confident with doing so. Leave the property in the Uk maybe sell one to by one in Thailand no more than that though but that would be once we know the score and see how we settle.

Ideas advice please

[Mario2008]

You need to to show an income or a fixed amount in a bankaccount in Thailand in your name, the ammount depending on your extension of stay based on being married to a Thai (40,000 a month or 400,000 in the bank for 2 months) or on retirement (65,000 a month income or 800,000 in the bank for 3 months, (first time only 2 months) or a combination of money in the bank and yerly income totaling 800,000 THB.

Rental income counts as income.

[Hedghog]

The rules could well of changed a lot in 7 years,your stated timeframe.

Not worth thinking about at this time.

[TCA]

Although as stated, laws will change before you move to Thailand, bear in mind any ramifications of capital gains tax if disposing of a property that isn't your main residence within 5 years (I think) of leaving the UK. Don't take that as gospel but check it out as well as rules for non-resident landlords. Complicated stuff.

[JAS21]

Although as stated, laws will change before you move to Thailand, bear in mind any ramifications of capital gains tax if disposing of a property that isn't your main residence within 5 years (I think) of leaving the UK. Don't take that as gospel but check it out as well as rules for non-resident landlords. Complicated stuff.

If you become a Non-Resident Landlord then you would normally be Not Resident and Not Ordinary Resident and in that case the rules for disposal of property are different. As the guy said look it up.

[Blackandwhite]

The rules could well of changed a lot in 7 years,your stated timeframe.

Not worth thinking about at this time.

Hi Hedgehog - yes plenty of time to go but as property is rather permanent thing and I need to consider it now if I might be better to make investments in a different way to what I am doing. Do you know of any changes on the horizon at the moment ?

Sure the rules will change though it is just trying to keep up with the changes.

Thanks for your help

[Blackandwhite]

You need to to show an income or a fixed amount in a bankaccount in Thailand in your name, the ammount depending on your extension of stay based on being married to a Thai (40,000 a month or 400,000 in the bank for 2 months) or on retirement (65,000 a month income or 800,000 in the bank for 3 months, (first time only 2 months) or a combination of money in the bank and yerly income totaling 800,000 THB.

Rental income counts as income.

Thanks Mario - I am sure as Hedghog has mentioned things are likely to change but I do need to make sure the plans and foundations I am making will not need to be changed massively to suit the visa requirements. I am looking at taking on a few more properties in the next few years so i will ensure to look at the best way to have these showing income and profit based on the visa needs for showing money in accounts or regular income.

[JAS21]

You need to to show an income or a fixed amount in a bankaccount in Thailand in your name, the ammount depending on your extension of stay based on being married to a Thai (40,000 a month or 400,000 in the bank for 2 months) or on retirement (65,000 a month income or 800,000 in the bank for 3 months, (first time only 2 months) or a combination of money in the bank and yerly income totaling 800,000 THB.

Rental income counts as income.

Thanks Mario - I am sure as Hedghog has mentioned things are likely to change but I do need to make sure the plans and foundations I am making will not need to be changed massively to suit the visa requirements. I am looking at taking on a few more properties in the next few years so i will ensure to look at the best way to have these showing income and profit based on the visa needs for showing money in accounts or regular income.

Actually they don't seem to bother about what you spend (or profit) ... just what your pension is ... or what your other income is. When I did the baht/month Visa extension way the British Embassy letter only showed income. Now I have changed to 'baht in the bank' Visa extension way as I just keep more over here and it only costs 100Baht for the bank letter stating deposit amount instead of 2500Baht for a BE letter and I get far more interest here than in the UK... even though I bank offshore.

[moe666]

The rules do change but I believe its been 5 or 6 years since the last rules change. People think it is a rules change because a immigration office ask for something another office doesn't. It appears you have two different situations here what to do about property in UK and deciding which visa to apply for when you come I believe you said around age 47 then you will have to do the married to a Thai as retirement visa requires you to be 50 years of age.

I know several people here in Chiang Mai who live on rental property income from the states and the UK.