How do I qualify for a Retirement Visa in Thailand?
An extension of stay based on retirement is commonly known as a retirement visa
It is available to foreign nationals who meet the following criteria
Over 50 years of age
Monthly Income of 65,000 THB
Or 800,000 THB In A Thai Bank
At Key Visa we pride ourselves on providing an easy, no fuss application process for all of our clients
So that you can relax and enjoy your retirement without worrying about the paperwork
What are the Thai Retirement Visa Rules?
You will need to demonstrate that you can support yourself for the 1 year duration of the visa extension
Please note that you cannot legally work in Thailand if you have an extension of stay based on retirement
A retirement visa is a yearly extension and is renewed every year without you having to return to your home country.
Most immigration offices will allow you to renew your visa up to two months before it expires and it is advisable to not leave it to the last minute in case there are any problems.
The ideal time to renew is 3 to 4 weeks before the due date.
The form needed to apply for or renew an extension of stay based on retirement is form TM7
How much money do you need for a retirement visa in Thailand?
You can deposit 800,000 Thai baht in a Thai bank and it must be deposited at least 2 months before the first visa is applied for. Once the visa is received the applicant must not withdraw any of the 800,000 baht until a minimum of 3 months after your visa was issued. Then you may withdraw some funds but you cannot allow the account balance to drop below 400,000 baht for the rest of the 9 months validity of the visa.
You can put the money equivalent to 800,000 Thai baht in a foreign currency bank account, in your native currency. This is also acceptable as long as it has been in the bank for 2 months. There are many banks in Thailand which now offer foreign currency accounts including: Bangkok Bank, Siam Commercial Bank and Kasikorn Bank.
If you cannot obtain a pension income letter from your Embassy anymore and you wish to work with your income then this income this now must be pension income and cannot be derived from rental income in Thailand or overseas. You must now show you have transferred from your home country a minimum of 65,000 Thai baht per month for at least a 12 months period. You must supply immigration with 12 months bank statements from a Thai bank showing deposits and also 12 months bank statements from overseas showing the moniey transferred. Also now they wish to see how the income was derived eg: a pension statement from your home Country.
How to complete the retirement extension of stay form
You need to fill in your personal details, information from your passport including when you arrived in Thailand and your address in Thailand.
Some offices may ask you for proof of address. You can complete the form at the immigration office when you apply for your retirement extension or you can complete it online by clicking the button below and simply save to your computer and print to take with you to immigration.
What documents do I need for a Retirement Visa?
- Passport With Non O Visa
- 2 Passport Size Photos
- Proof Of Funds/Income
- Proof Of Address
- Application Fee of 1900 THB
Once I have the visa extension what must I do?
There are important steps that must take place when you have this visa to make sure you do not overstay in Thailand and also to make sure that you do not lose the valid visa stamp in your passport. details below.
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- You must report to any Immigration office in Thailand every 90 days. This is naturally referred to as 90 day reporting. It is the law that a foreigner has to produce his address if staying in Thailand for 89 or more days utilizing form TM47.
- If you wish to leave Thailand to protect your visa you must get what is called a re-entry permit. Obtained from any Immigration office, this is a square stamp placed in your passport that protects your visa so that when you re-enter Thailand through the airport or a border your visa is protected. You would normally obtain the reentry permit around 1 week before you are leaving Thailand utilizing form TM13.
A retirement visa is the easiest and best visa to have if you plan on residing in the land of smiles, are at least 50 years older and have the financial requirements covered.
How to renew your retirement visa extension
Your visa extension based on retirement is valid for one year, it’s important that coming up to that time of renewal, you start to make proper plans to renew it.
Currently, you can apply to renew your visa 45 days before it expires. You should renew as early as possible and not leave it to the last minute.
If you are using the bank balance method then you will need to ensure that your balance does not fall below 800k THB in the three months prior to you applying for your renewal.
If you need to apply for a proof of income letter from your Embassy then you should do this a few weeks before you plan to apply for your visa extension. The letters are valid for 6 months so if you are on a budget and need to spread the cost of renewing your permission to stay then you could apply a couple of months before you need it.
Key Visa offer a full and comprehensive retirement visa service as well as friendly advice on how to get through the procedure successfully.
18 years of visa experience, honesty and integrity for both our Thai national and expat clients.
Nationwide service across Thailand, no matter where you live in the country we can solve your visa problems
No visa, no professional fee. If you don’t get the visa we don’t get paid – No hassle, no heartbreak.
Thai Retirement Visa Frequently Asked Questions
Can I change a visa exempt entry stamp to a retirement visa?
Yes, please visit our office as soon as possible after arriving in Thailand so we can guide you through the process. You need at least 21 days remaining on your permission to stay when you start the process.
Can I change a tourist visa to a retirement visa?
Yes, please visit our office when you have one month remaining on your tourist visa and we will guide you through the process
Can I obtain a Thai Retirement Visa from my own country?
Yes, you can. However, the process is more complicated and we usually recommend that you do a visa conversion once you arrive in the country.
How can I open a Thai bank account for a retirement visa?
Until you have a long stay visa, it is difficult to open a Thai bank account. We are able to help you with this, please contact us for more information.
