Thailand retirement visa from age 50

Retirement is the long-established route for living in Thailand, and the bar is low: age 50, and either THB 800,000 in the bank or THB 65,000 a month coming in. It costs THB 1,900 a year to renew. In return you accept annual paperwork, a ban on working, and a deposit that sits in a Thai bank.

A property purchase plays no part. Buying a home gives no right to stay, and no retirement category accepts the value of a property in place of the financial test.

The three routes compared

All three require the applicant to be 50 or over.

Non-Immigrant O and the annual extension

The Royal Thai Embassy in London issues a single-entry Non-Immigrant O to applicants aged 50 or over who show a monthly income of at least THB 65,000 (GBP 1,500) or a balance of THB 800,000 (GBP 18,000). The visa gives 90 days.

Before the 90 days end, you apply to your local immigration office for a one-year extension of stay on the ground of retirement. The evidence is proof of income such as a pension, interest or dividends, or a deposit certificate and passbook from a bank in Thailand, or both. The fee is THB 1,900.

The deposit is the part that needs planning. In practice:

• THB 800,000 must be in a Thai bank account in your name for two months before a first application, and three months before each renewal.
• The full amount must remain for three months after approval.
• For the rest of the year the balance must not fall below THB 400,000.
• Alternatively, show an income of THB 65,000 a month, or savings and annual income that together reach THB 800,000.

Opening the account is covered in banking and daily life. Keep the visa deposit separate from purchase funds, which must be documented for the Land Office as explained in sending money to Thailand.

Non-Immigrant O-A

The O-A is applied for before you travel, through the Thai e-Visa system, and gives one year from the start. The conditions:

• Aged 50 or over on the day of application.
• No criminal record in Thailand or your home country, supported by a police certificate.
• A medical certificate no more than three months old.
• THB 800,000 on deposit, or THB 65,000 a month, or a combination totalling THB 800,000 a year. For this visa the funds may be held at home.
• Health insurance for the whole stay of at least THB 3 million or USD 100,000, from a Thai insurer or a foreign insurer that completes the embassy's certificate.

Employment of any kind is prohibited. The length of stay granted follows the period of your insurance, so a policy that lapses early shortens the permission.

The insurance is the real cost. Get a quotation first, and see our healthcare page.

Non-Immigrant O-X

The O-X is the long version: five years, renewable once, for 10 in total. It is limited to nationals of Japan, Australia, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom, Canada and the United States.

The financial test is heavier. You need THB 3 million in a Thai bank, or THB 1.8 million on deposit plus an annual income of THB 1.2 million. The deposit must be held for a year and then kept at THB 1.5 million or more, and foreign bank accounts are not accepted for this visa. Some missions, such as the consulate in Chicago, also ask for cover of at least THB 3 million or USD 100,000 on top of the Thai policy shown in the table. Chicago charges USD 400 per application.

At this level, compare the Long-Term Resident visa: its Wealthy Pensioner category gives 10 years and a tax exemption on overseas income, for a passive income of USD 80,000 a year.

Living with the visa

• 90-day reporting. Every 90 days of continuous stay you confirm your address to Immigration, in person or online.
• Re-entry permits. An extension of stay lapses if you leave without one. The fees are THB 1,000 for a single permit and THB 3,800 for a multiple.
• No work. Treat this as including work for an overseas employer. If you intend to keep working remotely, look at the Destination Thailand Visa or the LTR visa.
• Tax. Spending 180 days or more in Thailand in a calendar year makes you a Thai tax resident. See rental income and tax and take advice on pension income brought into Thailand.

Which route to choose

• Under 50: consider Thailand Privilege.
• 50 or over and living in Thailand most of the year: the Non-Immigrant O with annual extensions is the cheapest, if you are content to keep THB 800,000 in a Thai bank.
• A listed nationality with THB 3 million to commit: the O-X saves the annual renewal.