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What are the steps for a NZ citizen to retire in Thailand and what taxation applies on pensions?
Thailand VisasRetirement VisasNon-O VisaOA VisaTaxation for ExpatsPension Taxation in ThailandNew Zealand Pension
Sep 26, 2024
2 years ago
Francis *******************
ORIGINAL POSTERWhat's involved in a NZ citizen getting a visa to retire in Thailand? What sort of taxation does one face on a pension living there?
TLDR : Answer Summary
A New Zealand citizen looking to retire in Thailand should consider applying for a Non-O or OA visa. The Non-O visa is easier to obtain, does not require health insurance, and can be applied for on arrival, while the OA visa requires health insurance but is available before entering Thailand at the embassy. Pensions from New Zealand are not taxed in Thailand, and to maintain full pension payments while residing in Thailand, one must apply for portability through Work and Income New Zealand prior to leaving. Additionally, it's important to stay updated on tax implications as they may change.
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.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
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Ron ******
Francis...best to visit the Thai Embassy Wgtn website, all the info for visas is there and then you can decide what best suits your situation. If you are looking to live permanently in Thailand the Non Imm O is likely the best option. You can apply through the e-visa system here in NZ or do it from within Thailand. Costs more to obtain here ($800) but less route marching back and forth to immigration to do it there. Also easier to open bank accounts if you have the visa when you arrive. Your pension won't be taxed in NZ as you will be come a non-resident for tax. Plenty of info on what's currently happening with taxation in Thailand, do a bit of research and get an understanding of how it will affect you.
Henrik *****
Ask again next year, until new rules come in force, and see how the rules are administrated.
Mark ********
Francis, an O visa doesnt require any health insurance whereas an OA visa does. So decide on which one is your preference then go from there.
Keith **********
I don’t think nz pay pension if you living in Thailand as far I have researched
Ralph *******
@Keith *********
They may reduce it. But it depends on how many years you’ve worked in New Zealand.You have to apply to Work and Income for portability, while you are in New Zealand.
Darren *****************
@Ralph ******
yes, my old man does this. Signs a form every 6 months to confirm he is still amongst the land of the living, and Super payment continues into his NZ bank accountRalph *******
@Darren ****************
Does he get the full amount?Darren *****************
@Ralph ******
yesRalph *******
@Darren ****************
I believe I will lose about a third.Ron ******
@Ralph ******
To get the full pension you would have to have lived in NZ from age 20 to 65. If have lived there less time you would receive *****
th for each month you resided there.Ralph *******
@Ron *****
Yes. I will lose some.Reply to
Ralph *******
Reply
Marty *********
Get an O visa, not an OA. If you can’t get an O visa in NZ then arrive in Thailand as a tourist and you can get your O visa here.
If you qualify for an LTR visa then any money you bring into Thailand is not taxable.
If you qualify for an LTR visa then any money you bring into Thailand is not taxable.
Andy ************
@Marty ********
The OP is talking about pensions. NZ pensions are not taxable in Thailand so getting the LTR is a total waste of money!Brandon ************
@Andy ***********
it's still the best long-term visa currently available if he qualifies for it.Andy ************
@Brandon ***********
Let's agree to disagree. 50,000 baht fee? HmmmmBrandon ************
@Andy ***********
the cost of border bounces alone will equal the cost of the DTV over 10 years, EASILYAndy ************
@Brandon ***********
All depends on individual circumstances. I'm in and out of the country continuously and I don't mean stepping over a line to step back again. I'm talking about proper international travel. The DTV kills every other stone dead for me.Bob **********
@Andy ***********
the price of an LTR is a wash when comparing non-o you can get an insurance policy for 20kMark ********
@Bob *********
The insurance cost for my OA was 8500b one year.Bob **********
@Mark *******
yes and it won’t get you you a whole lot believe meMark ********
@Bob *********
I self insure. It was to get me across the line for the OA Visa.Andy ************
@Bob *********
DTV doesn't require insuranceReply to
Andy ************
Reply
Marty *********
@Andy ***********
I got my LTR before there were any tax rule changes. Taxes were not a consideration in 2022. It turned out to be a side benefit recently. The cost over 10 years is low and the convenience factor is high.Yes, federal pensions are not taxed depending on the dual tax treaty with your country. If you have any other types of income though then you might have considered the tax implications. For instance I have both a work pension (potentially taxable) and US Social Security (non taxable). I certainly don’t know the OP’s full financial circumstances.
The LTR is still a good visa and I am suggesting it as something to look into. If it doesn’t apply then there are other alternatives.
Andy ************
@Marty ********
The DTV wipes the floor with the LTR. The LTR ranks second only to the elite visa as the biggest scam in Thailand visa historyJo **********
@Andy ***********
you’re just sad and miserable because you could not an LTR. It’s by far the best visa 10 years for 50k no 90 day reportingAndy ************
@Jo *********
Not sad and not miserable. Can easily get LTR. It's only $80k passive income. But why bother when the DTV has it trumped? I'm in and out of the country continuously. I haven't done a 90-dayer since covid. If you think paying 50,000 just to avoid doing 90 day reports that's all well and good. To each their ownJo **********
@Andy ***********
it’s 10 years, and your stamped in for 5 years. Even though I leave the country almost every month it’s security for 10 years. I got it based on remote working it was super easy. And since I fly continuously the VIP lane at the airport is very valuable to me. I am through the airport immigration in less than 10 minutes. You are right for your situation DTV is an excellent option. What I don’t understand is why anyone would get an elite visa for 1 million baht.Andy ************
@Jo *********
Have to agree with you on the Elite. I'm sure there's a lot of people who bought the Elite after the price increase would be fuming now. I get your reasons for the LTR as you're in and out more frequently than I am so that suits you, and over ten years the cost between the two would be more comparable. I'm surprised the Thai government didn't make the DTV 20,000 baht - they still would have sold almost the same amount, and made more baht out of it. I think they've undersold it to be honestMarty *********
@Andy ***********
Some of us are not digital nomads or want to take a Muay Thai class or bounce in and out every 6 six months. And we still don’t know how Immigration is going to treat DTV’s (90 day reports anyone?).A pensioner LTR is about the same cost as an O and no money in the bank requirements and only 1 year reports. Of course you need the $80,000/year passive income which is why I said “if you qualify”.
If you are under 50 years old and can qualify as a digital nomad and want to put up with the border/immigration requirements then the DTV is a good choice. It is a good addition to the Thai visa options. Maybe for you. Not for me. We all have choices . . .
The Elite visa is so different from the LTR and other visas that it doesn’t belong in the conversation.
Reply to
Marty *********
Reply
Andy ************
Best to enter Thailand on a 60-day free entry stamp, and apply for non-O visa at an immigration office.
As far as tax is concerned. Any NZ pensions are not taxable in Thailand so nothing to worry about
As far as tax is concerned. Any NZ pensions are not taxable in Thailand so nothing to worry about
John ********
@Andy ***********
as far as the tax is concerned we have no idea what is happeningBob **********
@John *******
nothing is going to happen to pensionersAndy ************
@John *******
You mean YOU have no idea! 😂. I know exactly what is happening! For Australia and NZ pensions are not taxable in Thailand. That's set in concreteJohn ********
@Andy ***********
ok let's hope that you are right, 🤣Andy ************
@John *******
There's no hoping involved. The NZ DTA is very clearReply to
Andy ************
Reply
Mark ********
You'll want an OA visa mate. Contact the Thai Embassy in Wellington and they will tell you what you need to do.
Bob **********
@Mark *******
you’ll need insurance with an OA your better off getting an non-oReply to
Bob **********
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