What are the requirements and benefits of the OA visa in Thailand for expats?

Obtain an O-A visa in your home country then travel to Thailand. Just before the O-A expires, book a ticket to KL and step out of Thailand..return the same day and you will be stamped in for another year. So you get 2 years stay out of one year O-A visa. Note..when you depart Thailand for KL, get a single entry return stamp from the airport that you depart from. Around 1500 baht. If you don't do this you won't get back in.

The OA has the advantage that you can get two years in Thailand with no requirement to transfer any money into Thai bank account. You don't actually even need a Thai bank account

STEP-BY-STEP DO-IT-YOURSELF INSTRUCTIONS -- APPLYING FOR RETIREMENT STAY AFTER ARRIVAL IN THAILAND (Must be over age 50): i. You may arrive either Visa Exempt (currently 45-days), or on a 60-day Tourist Visa. ii. Then, immediately after your arrival, you must promptly open a Thai Bank Account, and transfer 800,000 Baht into Thai Bank Account (if married, some Immig. Offices like CM, accept Joint Account with 1.6 Mil. Baht. Also Note, that either Passbook Savings or Fixed Deposit is acceptable, but not Investment Account. Finally note, that some Immig. Offices, but not all - e.g. CM, require proof of foreign source of funds. WISE is an inexpensive, easy & reliable service to transfer funds). iii. Then, you apply for a 90-day Non-O Visa at local Thai Immigration Office. If on Visa Exempt, you use Form TM87, if on Tourist Visa TM86. You are required to apply with minimum 15-21 days remaining on permitted Stay, depending on Office (Chiang Mai, requires 21 days). Requirements: TM87 or TM86 (Note: Fear not, only 1-page Form simple to fill out in English with only basic info., name, address, passport info., arrival info, and stated purpose: "For Retirement"), Must be Over Age 50, 2000 Baht, Copy of all relevant pages of Passport (i.e. Facepage, and Entry Stamp); copy of TM30 (that is the required arrival form that is either completed by your Hotel or Condo, or you do yourself at Immig. Office w/i 24 hrs of arrival); copy of proof of residency (Rental Agreement, or Hotel Reservation -- some offices may not allow if only staying at a HOtel); and most importantly proof of the money in Bank (Copy of Bank Book, and a certified Letter from the Bank usually costing 100 Baht). Above is all simple and straightforward, so no need for spending money on a Visa Service. iv. If all docs. in order, Immig. Office will put a Sticker in your Passport that you are "under consideration", and a date to return to pick up your Visa Stamp (prior to your Stay expiration). v. Next, when you have 30 days remaining on the Non-O (and your Bank Money has "seeded" 60 days -- i.e. stayed on deposit), you go back to Immig. Office to apply for the 1-yr Retirement Extension. Requirements.: TM7 (Req. for Extension of Stay); 1900 Baht, and all other same docs. as above (newly updated of course). And, you will receive 1-yr Extension of Stay -- usually same day, if you arrive in morning. Note: For both processes above, your Bank Passbook Balance must be updated same date as application, and the Bank Letter should be no more than 7 days old -- easiest just to do both same day just before going to Immig. Office). vi. Finally, you should/must get a Re-Entry Stamp -- easiest/best to just do immediately after you get your 1-yr. Extension stamp. It can be single Re-Entry for 1000 Baht, or 3800 Baht for unlimited multiple Re-Entry. The Re-Entry Stamp allows you to leave and return to Thailand, without invalidating your 1-yr Extension. If you fail to do that, then your Extension of Stay is nullified, and you must start the process again. (IMPORTANT: If you want or need to leave Thailand while on the initial 90-Day Non-O, same thing -- must get Re-Entry Stamp.). Hope that is all clear.

I personally do not recommend "O-A" BECAUSE of the insurance requirement, which will follow you forever on your 1-yr Extensions (unless you cancel it out and start over). Instead I recommend you get Non-O (for purpose of Retirement), which you can either get outside country from Thai Embassy/Consulate, or my personal preference to get inside country at Immig. Office upon arrival. (See Instructions below). And, then in either case, you can then apply for 1-yr Extension. (See Instructions below).