Article Rich General A Guide to Retirement in Tropical Thailand

A Guide to Retirement in Tropical Thailand

Let’s face it, we toil for at least 40 years before we find ourselves in a position when we can finally stop work and enjoy life. Of course, this means we are no longer tied to where we live and when looking for a tropical paradise in which to retire, look no further than Thailand, the Land of Smiles, as the Kingdom is affectionately known. You won’t be the first to choose such a unique country for your retirement destination and you certainly won’t be the last; indeed, Thailand must rank near the top of the list of desirable retirement locations.

Reconnaissance Trip

Once you have made up your mind, start with a one-month reconnaissance trip, which will allow you to decide where to buy your dream retirement home. You might prefer to have a condo in Bangkok and with luxury villas for sale on Koh Samui, you have the perfect set up. Spend time in an area where you plan to live and staying in boutique hotels as you travel is both cheap and comfortable, as you get to know the locals and the amenities.

Online Solutions

If you would like to start looking at top villas in the South of Thailand prior to arriving, a Google search will help you find the website of a reputable property developer and see what they have to offer. Once you find a property that is perfect, arrange to visit for a viewing and if all goes well, you can make an agreement and set a date for your permanent relocation. Here are some great relocation tips, which might help when you are ready to make the move.

Local Lawyer

When purchasing real estate in a foreign country, you should seek out the services of a local English-speaking lawyer, who will ensure that everything is legal and above board. The system for a foreigner to own land in Thailand is complex; you have two options, create a limited company and buy the land in its name, or opt for a 30×30 lease, which gives you a maximum of 60 years, which is more than enough, even for your children.

Long Term Visas

Wherever you go in the world, you are a guest and must abide by the rules and regulations and for retiring in Thailand, you need to apply for a retirement visa. There are financial requirements; you must deposit 800,000 Thai baht into a Thai bank account 3 months prior to applying for the visa, plus you need to submit some documents. This visa can be renewed annually from within Thailand and should you wish to visit home for a couple of weeks in the summer, make sure you obtain a Thai re-entry permit, which allows you to retain your current visa date.

The Pandemic

At the time of writing this article, there are Covid-19 entry requirements for foreigners wishing to enter Thailand, so do check prior to making any travel plans. If you have already been vaccinated, it might make things a little easier.