British workers encouraged to retire to Thailand after Brexit and snap up a £60k 20-year residency permit

[webfact]

British workers encouraged to retire to Thailand after Brexit and snap up a £60k 20-year residency permit - just watch out for your state pension being frozen

 

• A Thai official claims Brexit offers UK expats a 'good opportunity' to move
• Government agency Thailand Elite offers 5, 10 and 20 year packages
• What the officials don't mention is that your state pension could be frozen 

 

By Jane Denton For Thisismoney

 

LONDON: -- The UK's divorce from the EU offers pensioner-age Britons a 'good opportunity' to up sticks and move to Thailand, a Thai official has claimed.

 

With the value of the pound faltering against European currencies and ongoing uncertainty about the rights of Britons living within the EU after Brexit, a residency permit for further afield destinations like Thailand could be the answer.

 

But, before dumping scarves and jumpers and grabbing some sandals and shorts for the next flight to Thailand, it pays to assess the costs and pitfalls involved in getting a residency pass. In three words, it's not cheap.

Full story:http://www.thisismoney.co.uk/money/news/article-4386222/Thailand-official-says-Brexit-offers.html

 

-- This is MONEY 2017-04-07

[webfact]

Britons encouraged to consider Thailand for retirement amid Brexit uncertainty

 

LONDON: -- Thailand is launching a fresh charm offensive to lure more pensioners to the Asian nation as Britons begin considering alternative retirement destinations outside of Europe in light of Brexit.

 

The president of Thailand Elite, a government-owned agency tasked with running the country's "exclusive" visa scheme, told the Press Association that Britain's divorce from the EU was a chance to strengthen ties between the two countries.

 

Pruet Boobphakam said: "I think that Brexit will give us an opportunity to even open more, or to introduce Thailand even on a broader scale ... you can live in Thailand for up to 20 years if you'd like to, therefore it would be a good opportunity for both countries, in terms of UK people and the Thai people."

 

Full story: http://www.belfasttelegraph.co.uk/business/news/britons-encouraged-to-consider-thailand-for-retirement-amid-brexit-uncertainty-35599568.html

 

-- Belfast Telegraph 2017-04-07

 

[fruitman]

Yes but don't you dare to play Bridge ..

 

Oh and make sure your new hip is connected well before walking on the sidewalks.

 

Also make sure your eyes are very good so you can see the motocy driving against traffic coming.

 

And wear good sneakers so you can run away from soidogs or a cane with a hidden gun inside.

 

Also wear a helmet for lowhanging roofs with dangerous pins sticking out.

 

Learn Thai before you come, so you can speak to the taxidrivers/police.

 

 

 

[daveAustin]

Sort your currency out first Thailand and then start inviting people over. Still have to continually report address?

[maewang99]

everyday something more nutty.... the linked article says....

"with Thailand you [British] pay 15,000 US dollars (£12,033) and you can stay there for five years"

 

but I will only pay about 260 US dollars (1900 Thai Baht a year, I think it is).... for 5 years..... why Brits have to pay so much?

I was also (still am) trying to find out how a Brit might lose a state pension by being here.... that sure doesn't happen with USA's Soc Sec program.... what's the idea there too? is that why they say it's a ****state**** pension... it ain't your pension... it's a state pension? say what??? in the UK???



  
 

Edited April 7, 2017 by maewang99

[FritsSikkink]

10 minutes ago, daveAustin said:

Sort your currency out first Thailand and then start inviting people over. Still have to continually report address?

Nothing wrong wit the currency. It is pretty stable.

[leeneeds]

Retire, Research, Reflect, 

Research, again, 

make a list of all good and bad 

Cambodia, Vietnam, Myanmar considered also, 

with the view that you live 30 plus years in your new destination 

 

what is your back up plan? 

 

Please no high building jumps.

 

 

[jollyhangmon]

60k quid? As in 60,000.- GBP?

Now, that's a bargain there, no doubt ... people will just 'flock' over here ...  

 

Edited April 7, 2017 by jollyhangmon

[whatawonderfulday]

5 minutes ago, jollyhangmon said:

60k quid? As in 60,000.- GBP?

Now, that's a bargain there, no doubt ... people will just 'flock' over here ...  

Well no doubt TAT in association with Thai Airways are planning to put on extra flights as we speak. Can see it now ; Welcome to the "Hub of Brexit Retirees"

[clockman]

First make sure you have good health insurance!

[darksidedog]

I just renewed my retirement visa at a cost of 14,500 baht. I dropped my passport in to a shop with two photos and got my passport with visa back two days later.

Why I would be possessed to spend utterly stupid money to save me ten minutes every year is beyond me.

I'm pretty sure the 5,10,20 year folks still have to do a 90 day report.

[mikebell]

Sell your UK home and buy one here in Thailand ...oh.

[whatawonderfulday]

Just now, darksidedog said:

I just renewed my retirement visa at a cost of 14,500 baht. I dropped my passport in to a shop with two photos and got my passport with visa back two days later.

Why I would be possessed to spend utterly stupid money to save me ten minutes every year is beyond me.

I'm pretty sure the 5,10,20 year folks still have to do a 90 day report.

correct, yes they do

[BigBadGeordie]

11 minutes ago, darksidedog said:

I just renewed my retirement visa at a cost of 14,500 baht. I dropped my passport in to a shop with two photos and got my passport with visa back two days later.

Why I would be possessed to spend utterly stupid money to save me ten minutes every year is beyond me.

I'm pretty sure the 5,10,20 year folks still have to do a 90 day report.

I did mine a couple of months ago. Buriram Immigration, copy yellow book, copy pink ID card, earnings statement from Embassy (rip off B2500), copy passport and one photo.

In and out 20 mins, fee B1,900.

Job done.

Edited April 7, 2017 by BigBadGeordie
Error/addendum

[onemorechang]

14 minutes ago, darksidedog said:

I just renewed my retirement visa at a cost of 14,500 baht. I dropped my passport in to a shop with two photos and got my passport with visa back two days later.

Why I would be possessed to spend utterly stupid money to save me ten minutes every year is beyond me.

I'm pretty sure the 5,10,20 year folks still have to do a 90 day report.

That option of buying your visa, through an agency

may not be open in the future.

Give it 5 years and I reckon you  will need to show genuine proof of income or

genuine proof of funds in a Thai bank.

( lots of checking will be done )

Also in the not so distant future the funds needed for a retirement extension will increase. 

People should plan for that day,   as It will come.

 

Thailand does not want you to retire here , they wish,  you to come 2-3 weeks spend all your money and GO BACK HOME, ASAP.

 

Also any long term deal on retirement should be treated with suspicion, as they like to change there minds down the road. be careful I would say.

 

A Uk state pension is not enough to retire to Thailand !!!!!!!!!!!!!!!!!!!!!!!

No way

 

 

Edited April 7, 2017 by onemorechang

[Bundaberg Baxter]

15 minutes ago, darksidedog said:

I just renewed my retirement visa at a cost of 14,500 baht. I dropped my passport in to a shop with two photos and got my passport with visa back two days later.

Why I would be possessed to spend utterly stupid money to save me ten minutes every year is beyond me.

I'm pretty sure the 5,10,20 year folks still have to do a 90 day report.

why pay 14,500 for an extension when it's only 1,900? Also by law it has to be done in person, your method appears decidedly dodgy, and expensive.

[meatboy]

60k.gbp for a visa,60k.gbp.for a house you cant own.every falang food you buy is at least double/treble,health problems you need a mortgage to pay, if your not married to a thai,you had better as the saying goes "THINK BEFORE YOU LEAP"

[overherebc]

5 minutes ago, meatboy said:

60k.gbp for a visa,60k.gbp.for a house you cant own.every falang food you buy is at least double/treble,health problems you need a mortgage to pay, if your not married to a thai,you had better as the saying goes "THINK BEFORE YOU LEAP"

For sure better than Spain where you buy and own a flat for not much more, your pension won't be frozen and it takes a whole two hours to back to UK if you want.

 

[Orac]

I somehow  think that this is not aimed at those struggling to get by on a state pension as their only means of income unless there is some new sort of definition of 'elite' that I am unaware of.

[worgeordie]

Better "Snap" one up quickly they are selling fast

regards worgeordie

[NanLaew]

36 minutes ago, onemorechang said:

A Uk state pension is not enough to retire to Thailand !!!!!!!!!!!!!!!!!!!!!!!

On the contrary, where a fully subscribed and paid up UK state pension may provide only a subsistence in the UK, it is more than enough to retire on in Thailand. The debatable point is whether Thailand is a good choice as a retirement venue.

Edited April 7, 2017 by NanLaew

[Tilacme]

This has to be a wind up!

[starky]

1 hour ago, fruitman said:

Yes but don't you dare to play Bridge ..

 

Oh and make sure your new hip is connected well before walking on the sidewalks.

 

Also make sure your eyes are very good so you can see the motocy driving against traffic coming.

 

And wear good sneakers so you can run away from soidogs or a cane with a hidden gun inside.

 

Also wear a helmet for lowhanging roofs with dangerous pins sticking out.

 

Learn Thai before you come, so you can speak to the taxidrivers/police.

 

 

 

100 %. better off not to come at all. Few miserable constantly whinging gits on here that wouldn't be missed if they packed up their gear and <deleted> off as well

[NanLaew]

1 hour ago, maewang99 said:

I was also (still am) trying to find out how a Brit might lose a state pension by being here....

The British retiree doesn't lose the state pension by opting to live overseas, he/she just loses the inflation and other adjustments to that pension, ie. it is frozen.

[jollyhangmon]

1 hour ago, maewang99 said:

everyday something more nutty.... the linked article says....

"with Thailand you [British] pay 15,000 US dollars (£12,033) and you can stay there for five years"

 

but I will only pay about 260 US dollars (1900 Thai Baht a year, I think it is).... for 5 years..... why Brits have to pay so much?

I was also (still am) trying to find out how a Brit might lose a state pension by being here.... that sure doesn't happen with USA's Soc Sec program.... what's the idea there too? is that why they say it's a ****state**** pension... it ain't your pension... it's a state pension? say what??? in the UK???



  
 

http://www.thisismoney.co.uk/money/pensions/article-4346478/Jeremy-Corbyn-backs-vote-unfreeze-expat-state-pensions.html 

[overherebc]

6 minutes ago, NanLaew said:

On the contrary, a fully subscribed and paid up UK state pension is more than enough to retire on. The debatable point is whether Thailand is a good choice as a retirement venue.

Last year at 55+ to the pound it was 'survival' money. Not so good now at 43ish. Add a couple of private pensions and it can be ok. Another mil' sitting in the bank all year that you might need for medical emergencies is also required. If you have to break into that for an emergency it might not be possible to get your next extension, legally.

[jayceenik]

Belgian senior.

I wish I had retired in South America (Argentina, Ecuador).

Now I'm too old and have too much invested here (TGF, house, car) to move.

 

No, I'm not unhappy here in LOS but I could have done better with my Golden Years ...

Edited April 7, 2017 by jayceenik

[evadgib]

Pinned in general section:

 

 

[Psimbo]

46 minutes ago, NanLaew said:

The British retiree doesn't lose the state pension by opting to live overseas, he/she just loses the inflation and other adjustments to that pension, ie. it is frozen.

One day the Brit Gov't will realise that they should encourage people to live overseas  and get the (tiny) increases- they are less of a burden being out of the country. IIRC the Japanese actually encourage their pensioners to go overseas and DO give them the adjustments. 

 

Apparently 2 Ambassadors ago the Indian Brit supported and tried to address this but was put firmly back in his box by the FO.

 

I know a guy that didn't have a pension increase for 20 years as it was frozen- ridiculous. By the! time I reach pension age though it will probably be 75 to qualify

[simon43]

Since the retirement visa extension option exists for those over 50 years old, I wonder why the Elite visa is being promoted to those of pension age.  

 

Could it be that the retirement visa extension option (800k in a Thai bank account etc), will no longer be available in the future?