ask
Search
Ask
Answered9 years ago

What long-stay visa options are available for a retired expat in Phuket with a monthly income of 55,000 Baht?

Oakley ******
asked Mar 6, 2018
5.5k
views
47
replies
6
likes
Age 53

Retired

55.000 bht pm income

Longstay options ?

Reside Phuket
Answer summary
A 53-year-old retired expat living in Phuket with a monthly income of 55,000 Baht is exploring long-stay visa options. To qualify for a retirement visa, he would need to meet financial requirements which include showing an income from abroad and maintaining a minimum balance in a Thai bank account. Specifically, he could secure a retirement visa by providing a letter from his consulate regarding his income and keeping at least 140,000 Baht in a Thai bank for 60 days before applying. Additionally, he could explore options like the education visa, which does not have the same financial stipulations but requires attending a language school. The conversation highlights the living cost considerations in Phuket and the implications of these visa options.
47 repliesnewest first
20

Click comment and we will ask for your email, then OTP, then name.

Tod *********
Tod *********
You would need to meet the financial requirements to get a yearly extension of stay based on being over 50 (retirement).

Seeing as your income is under the 65K baht a month threshold you would have to use the income / banked money method.

That's where you get a letter from your consulate stating you get the 55K baht a month income from abroad, and then you bank at least 140K baht in a thai bank account for 60 days prior to you applying for a yearly extension (meaning the total income for the year is 800K)
Oakley ******
Oakley ******
OP
Thanks
Alexandre **********************
Alexandre **********************
Depends. Phuket is expensive thought 4 forgeiners and known for its scams. The only place ive seen worse than phuket is koh samui and ive been in almost all thai islands. Theres better places to live tbh but up to you. If you can avoid being scammed then its more than enough. If can't... well.. just see by yourself.
David ************
David ************
You can survive on that solo. But supporting a girlfriend is a different story. I barely Get by with k100,000 a month juggling her in the mix.
Oakley ******
Oakley ******
OP
Or boyfriend. ..lowers their self esteem and confidence. .the power dynamic will change after a few years. ..just look around you....each to their own. ...
Johnsuma ******
Johnsuma ******
David ************
David ************
@Oakley *****
Sorry I should have included boyfriend
Oakley ******
Oakley ******
OP
Why would I want to support a girlfriend
Gisèle ******
Gisèle ******
Best thread on today's crackbook.
Andrew ******
Andrew ******
What about Bit coin?
Samm *****
Samm *****
There are fees with bitcoin. But yes buy some with pounds or whatever and then convert it back
Oakley ******
Oakley ******
OP
You tell me what you want to do

I'll advise on how to do it

The rest is up to you

Contrary to belief it's not rocket science

I teach for free

Not charge money for wrong advice
Andrew ******
Andrew ******
@Oak***
, unfortunately I live in Cambodia, but I would love you to get me into shape.... (and when I say love, I mean in a good way not in a gay way).
Oakley ******
Oakley ******
OP
@Andrew *****
...I'm retired nutrition and personal trainer. ..what's your aim ?
Andrew ******
Andrew ******
Sorry
@Oak***
I have trouble counting to 10 I have no idea, but I need to lose some weight.
Oakley ******
Oakley ******
OP
I've had a smartphone for 3 months

Cyber dinosaur

Do I buy bitcoin with income in UK then sell it for bht here in Thailand

Avoiding charges ?
Alex *********
Alex *********
55 000 is plenty to live on. Lots of us live on a lot less
Martin *********
Martin *********
55k bht income , from where ? . I mean is that coming via transfer from the uk for example , ? Because that exchange rate could and will change , for better or Worse . Would you have purchased property already ? . Because you’ll need to factor in rental and bills for example .

And regards obtaining the long stay 0-A ( pension) visa , you’ll need to show financial records and apply at the Thai embassy . You do Not need 800k bht in your first year , only when you apply for your first extension, and that’s needs to be in a thai bank for 3 months prior ,and every year there after.

Phuket is also more expensive I’ve found then up country . Imo 55k a month is not a lot to live on , IF you still have to outlay For rent etc .
Steve *******
Steve *******
Martin Howarth. Its 2 months for the first year.
Alex ****
Alex ****
@Oakley *****
so as long as u can come up with the cash/income requirement u can go for the retirement visa
Oakley ******
Oakley ******
OP
Why sell up and give up my income

Cash now

Maintain income

I don't care what happens after I die
Alex ****
Alex ****
Another note on that: if you remortgaged your properties and u die the next year, you dont need to worry the payment either! 😂😂
David *******
David *******
@Alex ***
correct, if not good I would just sell up lol depends if op is 52 or 92. Suspect the companies have some sort of complicated form to fill in with health questions, lifestyle etc and make a call on how much to risk but they dont do it to loose money for sure.
Alex ****
Alex ****
@Oakley *****
really depends on how much you will get for the lump sum then but that's off topic
Oakley ******
Oakley ******
OP
Why re mortgage and have repayments ?

I have no dependents so don't need to leave anything when I die

With a lump sum now I can not only reduce my outgoings but also solidify my existence here
David *******
David *******
@Oakley *****
why would you do that? Why not as some suggest re mortgage, maybe not all, take out life assurance, then the rent more than covers mortgage and if you die no forfeit of properties. Dont forget you may find nice Thai lady :-)
Alex ****
Alex ****
So retirement visa will suit you?
Oakley ******
Oakley ******
OP
@Alex ***
..I'm looking for a lifetime mortgage where I get a lump sum. .maintain rental income. .but upon death I forfeit the properties..no repayments are necessary

I've no dependents so this suits me fine
Alex ****
Alex ****
@Oakley *****
maybe u can remortgage your rental properties and get the cash for your retirement visa requirements as well as living expenses; let your tenants paid off your mortgages.
Erik ***********
Erik ***********
Income doesnt have to be from within Thailand. Income letter from embassy saying you have an income from overseas is good enogh.
Oakley ******
Oakley ******
OP
Income is from 2 properties i rent out in UK

Full equity no mortgage

Single no ex wife no kids

Long term lease in Phuket

Yoga and mma simple lifestyle

I'm well comfortable

Just visa issue
Jim *******
Jim *******
It is illegal, and on this group too,unless for another country.
Jasmine ***********
Jasmine ***********
You can have an ed visa. Don’t need to be hassle with money in the bank.
Roland ********
Roland ********
Yes... Get all your edu visas until the government finally realises that most of the students are fake. Then they will put an end to it which will affect all the legit students. Using an edu visa and not being a proper student is simply illegal.
Jaime *********
Jaime *********
Jasmine Kunhawong.

Yes, I know.

I said you don't have to leave.

I didn't say you can't leave.
Jasmine ***********
Jasmine ***********
@Jim ****
.Actually, you can leave the country when you have ED visa but you need to inform the school in advance to the school will ask you to get re-entry before you can go out and come back with it.
Jasmine ***********
Jasmine ***********
actually you can get it at any language school. There are many options about the period of time like 3 months, 6 months or 1 year and also about the price.Important. you need to make sure that you have 1 month left on your recently visa. Pm me if you would like to have more information.
Oakley ******
Oakley ******
OP
Interesting

Where can I get advice on these education visas. .subjects etc ?
Jaime *********
Jaime *********
No. You do the 90 day report every three months so immigration know where you live. You don't have to leave the country.
Oakley ******
Oakley ******
OP
But I still have to exit every 3 months with Ed visa ?
Alex *********
Alex *********
There is way with some agency, but I believe it's illegal
Valère *************************
Valère *************************
You'll need an additional 140k in the bank. Fixed and seasoned for 3 month at least.
Steve *******
Steve *******
2 months for the first year
Alex *********
Alex *********
you would need 65 000 per month or 800 000 baht in the bank
Alexandre **********************
Alexandre **********************
^ in a year period Aka 400k on bank + 33k per month income proven. Or get a multi entry visa and take train in and out once every 3 months and visit ur country every 9 months. or get a business visa by investing on some asset here in thailand. For the later one I dont recommend but its still better than the elite visa. At least the money isnt wasted. Or do as they say with the education visa. Not too recommended also for the fact they making it harsher. The best one is really retirement visa followed by multientry/business. Tourist/education you risk being blacklisted for no reason in long term.

As for conversion fees you can lower it to as much as 3÷ if you manage to open a bank acc here in thailand by using a service such as transferwise. cheaper than international bank tranfers and atm withdrawals on forgein accounts.
Valère *************************
Valère *************************
Or a combination of the two as long as you end up with 800k.
Don *********
Don *********
Yeah get married lol only need
*****

Activity

20 joined
Oakley ******
Oakley ******
Oakley ******
Oakley ******
Oakley ******
Oakley ******
20
people
Thai Visa Advice
Thai Visa Advice
...members40% approval
Member 1
Member 2
Member 3
Member 4
Member 5
Member 6
Member 7
Member 8

Related

25
What is the best approach for obtaining a retirement visa in Thailand as an expat?
6.2k58543mo
What options are available for a 4-month stay in Thailand?
4.7k121225mo
How can an American prove Social Security and VA benefits for a retirement visa in Thailand?
3.3k26316mo
What are the requirements and process for obtaining a long-term retirement visa (Non-O) in Thailand?
6.2k51708mo
What is the cost and requirements for a retirement visa in Thailand if I don't have 800k baht in a Thai bank?
26.5k1903958mo
Will I still require proof of 800k Thai Baht in a US bank account when retiring in Thailand?
5.4k40498mo
Is there a Non-O visa that allows a one-year stay in Thailand without a bank account?
5.1k44539mo
What are the current options for obtaining a marriage visa or a longer stay in Thailand if I can't show 400,000 Baht?
3.9k37222y
What steps do I need to take to move permanently to Thailand from the USA?
25.8k2282562y
What is the easiest visa option for a 45-year-old looking to move permanently to Thailand?
18.8k1442423y
What are the best retirement visa options for a 60-year-old Australian moving to Thailand?
2.5k8473y
What are the requirements for maintaining a retirement visa in Thailand regarding bank funds?
1.6k7193y
What Visa Options Are Available for Long-Term Stay in Thailand?
4.8k39453y
What visa options do UK passport holders over 55 have after a tourist visa in Thailand?
1.6k12103y
What are the financial requirements for a retirement visa in Thailand versus a marriage-based visa?
2k13174y
Can I hold my funds in a sterling account for a Retirement visa in Thailand?
1.7k9184y
What visa options are available for my wife while I apply for a retirement extension in Thailand?
4.4k45205y
Do I need to show that I spend 50,000 THB a month for my retirement visa extension in Thailand?
2.8k23236y
Is it easy to extend a retirement visa in Thailand for another year without leaving the country?
3.2k26276y
Do you need to provide your bank book along with stamped bank letters for a retirement visa in Thailand?
1.1k918y
Do I need to apply for a one-year retirement visa in the UK and transfer funds to Thailand for the second year?
2.4k20188y
How can I stay in Thailand for a year while learning Thai if the course is only 20 hours?
919649y
Is it easy to get a one-year visa extension if I have a marriage visa in Thailand?
2.6k21209y
What is the easiest visa option for a 90+ day stay in Thailand for an American over 50?
1.7k13119y
What are the requirements and process for obtaining a retirement visa in Thailand while on a 60-day tourist visa?
4k34319y

Resources

Need help with your retirement visa?