Thai income requirements

[tumbleweed0]

Can someone tell me what the Thai government monthly income requirements are and if you need to show a savings in addition to it for obtaining any kind of retirement status in Thailand. I'm on SSDI and considering Thailand and Vietnam as a residence. I'm a first time poster so bare with me if I'm in the wrong forum. Also, any opinions between the two countries would be welcomed. Thanks...

[Thanyaburi Mac]

For Thailand, an extension of  a Non-O visa requires a bank deposit of baht 800,000 or a monthly income of baht 65,000, or a combination of both.

 

Moving this to the Visas for Thailand forum.

 

Mac

[BritTim]

For Thailand, you can only apply for a long stay visa, or an extension of stay on the basis of retirement if you are over age 50. You need at attest to a monthly income of 65,000 baht (approximately US$ 1,800 at current exchange rates) or have 800,000 baht (US$ 22,000) deposited in a Thai bank.

 

I am unsure of the current requirements in Vietnam.

 

A few years ago, I would have recommended Thailand over Vietnam, but I think both now have merit. You might want to consider visiting each country as a tourist for, say, two months each to see which you prefer. Rent furnished apartments for your stays.

[IMA_FARANG]

Check carefully on the U.S. Social Security rules for  money transfer to Vietnam.

I was told about 4 years ago that it was not possible to transfer a Social Security pension directly to a Vietnamese bank. by a U.S Social Security supervisor.

There may have been some changes since that time.

I haven't followed the rules since then as I am now established in Thailand and I have my Social Security pension sent monthly by direct deposit to my Thai Bangkok Bank account.

That is why I live in Bangkok and not Ho Chi Minh City.

In fact today, 4 January 2017 is pension day for me here.

 

[ubonjoe]

6 hours ago, tumbleweed0 said:

Can someone tell me what the Thai government monthly income requirements are and if you need to show a savings in addition to it for obtaining any kind of retirement status in Thailand. I'm on SSDI

You would need 65k baht of income proven by way of an income affidavit done at the US embassy to apply for extension at immigration here. You would not need a to show savings if you can meet that requirement. If your income is less than 65k baht you can combine your annual income with funds in a Thai bank bank to reach a total of 800k baht.

You can also get a OA longstay visa at an embassy or official consulate in the states by proving your income or a combination of saving in a US financial institution.

[stephenterry]

While the above amounts are correct, if you rely solely on 800k deposited in a Thai bank account, it must be 'seasoned' for a minimum of 3 months before applying for a 'retirement' visa, and the bank letter (together with the bank book) should be dated (to be on the safe side) on the date you apply for the visa.

If you're combining income with a bank deposit there is NO seasoning requirement (according to the law) although some Immigration officers don't understand that. In which case, print off the law in Thai, and ask to see the big cheese. Or arrange your visa through a visa company rep.

If you're relying solely on income, you'll need a confirmation letter from your Embassy. That can be dated a month before your application.

 

 

[1FinickyOne]

experiment... if you have time, spend time in both places, if you have a particular place you like, spend a month or two there... then you can make an educated decision... 

[ubonjoe]

6 minutes ago, stephenterry said:

While the above amounts are correct, if you rely solely on 800k deposited in a Thai bank account, it must be 'seasoned' for a minimum of 3 months before applying for a 'retirement' visa,

It is only 60 days when applying for the first extension of stay (not a visa).

8 minutes ago, stephenterry said:

If you're relying solely on income, you'll need a confirmation letter from your Embassy.That can be dated a month before your application.

It can be up to 6 months old.

[asiaexpat]

Since SSDI is disability payment and can be approved at any age it would be helpful to know if you are over 50 years of age. The information provided so far is for persons 50 years or older. If you are not 50 years or older different criteria apply.

[Brer Fox]

I have shared my time over the past 10 years between Thailand and Vietnam (mostly Vietnam) . You can get now a 12 month multiple entry visa for Vietnam through a travel agent; very simple and for around US$500 (possibly cheaper for certain countries). No strings like proof of money and all the Thai nonsense they have there.

Also Vietnam is about half the cost to live compared to Thailand which is now relatively expensive by comparison. People tell me English teaching jobs in Vietnam pay a lot more than Thailand although the hours are not so convenient.

Vietnam marriage visa is 5 years multiple entry with 1 year stamp renewal - again no BS proof of money strings like Thailand and no pestering with visits and photos as proof of marriage. For a marriage visa in Vietnam all you have to do is present your marriage certificate and certificate of residency in company of your wife. All done!

In Vietnam if you stay there to retire or work you should register where you live; nothing more. You go to the local police station with a copy of your lease and they fill in a certificate which they stamp which they give you and that's it. I have never had any problems with police or immigration. They are always helpful and co-operative. In Thailand I paid 25,000 baht for a "under the counter" Retirement Visa which was always frowned at when going through immigration. My trips to Thailand now are of the visa exempt variety.

I hope that helps.

[smotherb]

9 hours ago, IMA_FARANG said:

Check carefully on the U.S. Social Security rules for  money transfer to Vietnam.

I was told about 4 years ago that it was not possible to transfer a Social Security pension directly to a Vietnamese bank. by a U.S Social Security supervisor.

There may have been some changes since that time.

I haven't followed the rules since then as I am now established in Thailand and I have my Social Security pension sent monthly by direct deposit to my Thai Bangkok Bank account.

That is why I live in Bangkok and not Ho Chi Minh City.

In fact today, 4 January 2017 is pension day for me here.

 

There are many other ways to get at your social security without sending it to the foreign country in which you live. Granted, if you are living monthly check to check, it may be more convenient.

[Mousehound]

I agree with above posters that say try out both places.  but you should also try out different places within each country.  Hanoi is very different to Saigon or Hue, as BKK is form Chiang Mai or Pattaya.  And there are half a dozen cities in each country you could add to the list.  Vietnam is way easier to stay in regards paperwork.  But it has a lot less infrastructure and medical may not be up to the standard of the better hospitals in Thailand.  It also depends how you want to live if  (at what standard and if you like full on nightlife) at least somewhat like the locals or need a full on western style of living.  My style of living doesn't find there is much between the cost of living in either country and Vietnam is developing very rapidly which usually means increased charges.  I have spent time learning Thai and have just started learning  Vietnamese.  I would seriously recommend you do the same.  It makes a huge difference, not just because you tend to get things a bit cheaper and are less likely to be ripped off but it makes getting about and the whole experience so much richer. 

Also I would recommend you see a city during the hot or rainy season rather than just in the cooler dryer months.  Most cities seem nice when the weather is perfect but when the weather turns is when you really need to experience it if you are thinking of moving there permanently.

[ubonjoe]

1 hour ago, smotherb said:

There are many other ways to get at your social security without sending it to the foreign country in which you live. Granted, if you are living monthly check to check, it may be more convenient.

I think many people would find it more convenient to have their SS payments sent directly to their bank here. It saves the time and expense of having it sent to a bank in the states and then having to have it sent to a bank here.

Aso if immigration wanted back up proof of your income affidavit nothing would be better than showing a bank book that shows it transferred in every month.

[smotherb]

5 minutes ago, ubonjoe said:

I think many people would find it more convenient to have their SS payments sent directly to their bank here. It saves the time and expense of having it sent to a bank in the states and then having to have it sent to a bank here.

Aso if immigration wanted back up proof of your income affidavit nothing would be better than showing a bank book that shows it transferred in every month.

The post to which I commented stated there may be a problem sending SS to Vietnam.

[JackThompson]

8 hours ago, Brer Fox said:

I have shared my time over the past 10 years between Thailand and Vietnam (mostly Vietnam) . You can get now a 12 month multiple entry visa for Vietnam through a travel agent; very simple and for around US$500 (possibly cheaper for certain countries). No strings like proof of money and all the Thai nonsense they have there.

...

 

It is only $135 for an American to get a 1-Year Multiple-Entry tourist visa for Vietnam - but there is no longer a shorter-duration and less-expensive option.  So, $135 is all it costs, but also as cheap as it gets. 

 

If I were considering living there vs here, I would base myself in Vietnam and visit Thailand, given you can only stay ~90-days at a time in Thailand on Tourist Visas.  

[tumbleweed0]

I gained some valuable insight. Thanks to all that responded. I have since looked at Laos and now consider it an option as well. I'm used to roughing it in Latin America. I see Thailand as kinda played out like Costa Rica with expats. I lived in Nicaragua for awhile an see it as more of a Vietnam or Laos. Countries that aren't yet over run with the gringos or faring as you call them. I'm 48 by the way. I liked the suggestion of visiting Thailand once in a while living somewhere less developed.

[stephenterry]

On 1/4/2017 at 9:13 AM, ubonjoe said:

It is only 60 days when applying for the first extension of stay (not a visa).

It can be up to 6 months old.

My CM visa agency advised me to err on the safe side, as Immigration tend to make up their own rules, particularly the income letter from my embassy.