Hi we would like to arrive on retirement visas. We have to have deposit 800,000thb x2. Also we have money to buy a property for us and some money to invest in properties for rent. Should we send all money in one go to Thailand or keep it on online account in virtual bank? We would like to close UK bank account. Thank in advance
2,857
views
6
likes
62
all likes
20
replies
0
images
11
users
TLDR : Answer Summary
A user inquires about the best strategy for transferring funds for retirement in Thailand, considering they have to deposit 800,000 THB for two retirement visas and are also looking to invest in property. Community members advise against closing their UK bank account, suggesting that they should retain some funds in the UK due to better investment returns and exchange rate concerns. It’s recommended to avoid transferring all money at once and to consider the risks of investing in Thai real estate.
NON-O RETIREMENT VISA RESOURCES / SERVICES
Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
Invest uk better returns open thai bank account and keep what you need fantastic value if you rent property in Thailand i would for first year at least give you plenty of time to find area you like and what you like . Lots of building going on in Thailand now and may being over done lots of empty properties and value not likely to go up may be come down For good advice I contact Neil Walter’s has huge experience in all aspects of investing insurance etc here in Thailand if u want his contact details pm me
First off all you can't buy a house or land only condominium second the rate a the moment isn't good so you should wait a bit maybe it goes a bit high and last thing keep you bank account in your country
Think long and hard about trying to invest in Thailand. Your money will make more in a simple certificate of deposit than you will here. Rental income can be very seasonal and liquidity is very low.
Keep UK bank account open, don't bring all your money over in one go, consider keeping at least some investments in the UK, buying properties for rent in a market you are unfamiliar could be an expensive mistake.
The ask:thailand community, consisting of multiple Q/A groups with over 100,000 members, powers this platform. It is not an official government resource. Our members actively contribute to this resource, and while we strive for accuracy, we cannot guarantee its complete reliability. Assistance to travelers is provided as a community service.