Answered3 years ago
What are my options for renewing a Thai Retirement Visa if I plan to leave Thailand in December?
Canadian on a Thai Retirement Visa renewal - Cha am
Thai Retirement Visa renewal due date on December 24 and I topped up my 800K requirement on October 20th.
Planning to travel outside of Thailand for the entire month of December, so wondering what are my best options to Renew my visa OR maybe simply let this Retirement Visa Expire and enter on a 30-day Visa Free Entry to start a new Retirement Visa application when I get back and would that implicate any Health Insurance requirements or any other changes if I do a New Retirement Visa Application versus the Renewal?
Thai Retirement Visa renewal due date on December 24 and I topped up my 800K requirement on October 20th.
Planning to travel outside of Thailand for the entire month of December, so wondering what are my best options to Renew my visa OR maybe simply let this Retirement Visa Expire and enter on a 30-day Visa Free Entry to start a new Retirement Visa application when I get back and would that implicate any Health Insurance requirements or any other changes if I do a New Retirement Visa Application versus the Renewal?
Answer summary
The user, a Canadian on a Thai Retirement Visa, is seeking advice on visa renewal options, given their planned absence from Thailand in December. Key advice includes the need to renew the visa in person starting on December 20th if still in Thailand, the implications of allowing the visa to expire before applying for a new entry, potential health insurance requirements, and considerations of using a visa agent for assistance.
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Todd *********
Agent like
@THAI *****************************
will sort it all out and save the stress. Plus you can easily make 40-60k baht on interest with your 800 k somewhere betterDave **********
@Todd ********
sorry to be blunt but are you stupid? Told you I never had to keep 800K in a bank account as I made over 65K a year and went to the LTR when they came out.So why go on and on about something that did not happen? No need to reply just go away.
Todd *********
@Dave *********
laughs. hahahaha, my goodness. Not the sharpest knife in the drawerDave **********
@Todd ********
I have an LTR so no money is required on deposit in Thailand and before the LTR did my own Extension Paperwork thus not wasting my money on an agent. Times that by 23 years here and its a nice savings. Have a great day as you made mine.Dave **********
@Todd ********
got it your brilliant and no one can invest smarter then you, in your opinion.Todd *********
@Dave *********
can you read well? I obviously DIDN’T overlook LTR, I was one of the first to get it. And well aware of the easy routing for anyone with 65k. Get the letter of affadavit and it’s dead easy.
I am laughing at your complete lack of investing acumen. Anyone who puts 800k in a Thai bank failed basis financial literacy. Use the agent and refer to my financial example above to evaluate easy returns. Again not exactly rocket science.
In addition to the 7% the MX peso is up 17% on the USD in last 5 years. C’mon Dave. Do better
Dave **********
@Todd ********
you seem to have overlooked thr new LTR abd not know those who make over 65K a month don't have to have 800K in a Thai Bank. I was laughing and still am laughing at your advice paying a agent, in my opinion case a complete waste of money. FYI I invest my money in thinks the have outperformed you bank example.
Todd *********
@Dave *********
me too Dave, LTR is not exactly rocket science is it? 800k baht equivalent in my Mexican bank at 7% annually would have turned your 800k into 3.792,000 baht in 23 years. It seems they didn't teach maths at your school. You made mine also. Refer to my previous comment for accurate assessment.Klee **************
@Todd ********
totally agree, I’m getting 6.2% in Canada, I would never take my money out of my GIC term deposit in CanadaTodd *********
@Klee *************
the interest rates should stay high enough there for awhile now. Mexico is solid option to keep money at high interest rates for Canadians too. And peso has been very strong also, which only augments the already high interest ratesKlee **************
@Todd ********
yup
Craig *********
@Todd ********
I was going to ask my bank about what’s available if I put my 800k there long term. Sorry different subject but any short answers?Todd *********
@Craig ********
The best you can probably do in Thailand is 1.5% or so on a one year term. Not much. Which is why so many leave their money at home and just choose an agent to handle the detailsTodd *********
@Craig ********
exactly. I get 7.2 in Mexico on GIC equivalent and that has been over 7% for a decadeCraig *********
@Todd ********
wow. Im getting 5.45 on a 30 day GIC hereTodd *********
@Craig ********
I think it’s the highest in last decade 😞Craig *********
@Todd ********
Hear you loud and clear. Surprised it’s that low
Graham ******
You only say Retirement Visa so is it a Non-O or a Non-OA (as you mention insurance)? If it is Non-OA and you are on your first year (so a valid Visa not an extension) do a border bounce soon and you will get another 12 months entry stamp (if you have 12 months of insurance). You will need a re-entry permit before you leave in December.
Tim **********
@Graham *****
good solution
Phil *****
Why not renew it now?
Tim **********
@Phil ****
the 800,000 deposit needs to sit in the bank for at least 2 months prior to the renewal.Klee **************
@Timmy *****
an agency will take care of all of thatKlee **************
@Timmy *****
contact one and they will fill you in on all the details, not to be posted hereTim **********
@Klee *************
what technique does the agency use to get around the regulations?
Brandon ************
You didn't plan very well since the earliest day you can apply for your extension would be December 20th. If you're not going to be in Thailand then you have no option other than letting your extension expire.
Native ****************
OP@Brandon ***********
Yah I hear you 10-4 on that... Life changes on a dime over here, so I truly did not see this coming, but trying to make the best of it. What are the differences if any on Renewing versus Reapplying? Also, with all the talks on making Health Insurance mandatory for Retirees, this assuming nothing changes from now until then, is there any Health Insurance or any other requirements as it stands today, for New Retirement Visa Applicants?Brandon ************
@Native ***************
no health insurance requirement. You'll have to apply for the 90 day non-O first then wait 2 months and then you can apply for a new 1 year extension. You'll have to keep the 800,000 in the bank the entire time until 3 months after it receive your new extension then you can't let it drop below 400,000.Activity
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