How to Retire in Thailand
Thailand is the ultimate destination for retirement, and for good reasons. Between the low cost of living, the fantastic beaches, and the unique food, what’s not to love?
If retirement in Thailand is on your bucket list, here is what you need to know.
Planning Your Retirement
Even though many people from the age of 50 move to Thailand because it is affordable, it is still a good idea to have some savings on your account. There are a few numbers to consider to retire comfortably.
On a salary of £1500-2000 per month, a retired couple could live a comfortable life. Still, the average Thai people live on less than £1000 a month. To live simply, you could survive on a smaller budget, around the amount of £1000.
To get a retirement visa or Non-immigrant Long Stay Visa, you will need to visit the consulate in your home country or do this when you arrive in Thailand.
The process of getting a visa is pretty simple, depending on how you want to spend your retirement.
Where in Thailand
The most popular places people choose for their retirement in Thailand are:
- Bangkok
- Pattaya
- Phuket
- Chiang Mai
- Hua Hin
Bangkok is the capital and the most-visited city in Thailand. If you are looking for a place with lots of temples, restaurants, art museums, and public transportation, Bangkok is the perfect place for you.
Pattaya has the proximity and convenience of Bangkok (around 1 hour drive) with the advantage of being on the coast. There is plenty to do and a slower pace of life than Bangkok.
Phuket is the largest island in Thailand, known for its sandy beaches and nightclubs. If you are a fan of seafood, this will be your little paradise. You can also find Italian, Indian, and Japanese cuisines.
Chiang Mai is a top-rated destination in Thailand. Known as the centre of northern Thailand, Chiang Mai has an adventurous reputation and is perfect for all retirees who enjoy outdoor activities. From whitewater rafting to hiking, there is something different to do every day.
Hua Hin is popular among low-key people who are looking for a quiet place to retire. Historically speaking, Hua Hin was a fishing village and today is one of the most famous areas for vacation for Thailand’s elite.
Getting Your Visa Finances
What are the visa requirements for UK pensioners?
To acquire a retirement visa for Thailand, you have to get a non-immigrant visa and proof you have enough money in your bank account.
The financial requirements are:
- Bank account with 800.000 baht or about £20.000
- Monthly income of 60,000 baht or £1650
- Combination of both
The next step is getting a one-year retirement visa. To receive this, you must be 50 or older and have a Thai bank book and letter from a Thai bank.
You also must obtain a re-entry permit and extension of your stay, notice.
Every 90 days, you must report to the Immigration Police to verify your address.
For all those holding a retirement visa, the Thai government strictly forbids employment.
Finding Your New Home
Retirees in Thailand will discover a lot of new things and places to be happy about. From the interesting culture and delicious food to the great weather and sun-kissed beaches, it is a great choice to consider.
A small, one-bedroom apartment in Bangkok costs about £500-600 per month to rent. Living outside the city centre is cheaper. You can save a lot of money by eating, moving, and living like a local.
Are you ready to explore Thailand’s hidden gems?
Living in Thailand is fun! So, go out there and get settled.
