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What steps can I take to obtain a retirement visa for Thailand during my current trip?
Retirement VisaThai Visa RulesNon-O VisaBank Account RequirementsExpat Life in ThailandVisa AgentsFinancial Requirements for VisaLong-term Stay in ThailandDTV VisaWealthy Pensioner Visa
Sep 3, 2024
2 years ago
Bo ********
ORIGINAL POSTERHello and thanks for letting me join. This is my 5th trip to Thailand from USA. Twice every winter/spring for the last 2 years and just picked up my 60 day entry this year Aug 25th. With a 30 day extension I can stay until November 25th.
I am retired with no family or children and trying to make it permanent this year. I turn 50 Oct 10th. My retirement is above the requirement and I have plenty in savings. I wish to apply for the retirement visa.
I have been lurking on these sites and paying attention waiting for this moment. I have seen that I need “seasoned” money in a Thai bank, then read that getting a Thai bank account is impossible on a tourist visa. I have also read that I can pay an agent and magic can happen.
So this is my direct question. What can I do, right now, this trip, between now and Nov 25th to obtain a retirement visa and stay in Thailand and not ever return to America?
Thanks in advance, I am happy to have found this group and not have to ask in an Expat group.
I am retired with no family or children and trying to make it permanent this year. I turn 50 Oct 10th. My retirement is above the requirement and I have plenty in savings. I wish to apply for the retirement visa.
I have been lurking on these sites and paying attention waiting for this moment. I have seen that I need “seasoned” money in a Thai bank, then read that getting a Thai bank account is impossible on a tourist visa. I have also read that I can pay an agent and magic can happen.
So this is my direct question. What can I do, right now, this trip, between now and Nov 25th to obtain a retirement visa and stay in Thailand and not ever return to America?
Thanks in advance, I am happy to have found this group and not have to ask in an Expat group.
TLDR : Answer Summary
The poster is seeking advice on how to transition to a retirement visa while currently in Thailand on a 60-day entry allowance, considering they wish to make Thailand their permanent residence after turning 50. They have substantial financial means but are uncertain about bank account requirements and the role of visa agents. Community responses suggest using an agent to open a Thai bank account to meet the 800,000 baht requirement for the non-O retirement visa, exploring multiple visa options such as the O-A visa or DTV visa, and considering when to apply for the visa given their immediate travel situation.
DTV VISA RESOURCES / SERVICES
- Take the basic DTV Qualification Test to see if you're eligible for the Destination Thailand Visa (DTV).
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the DTV 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.
Pelle Eriksson★★★★★
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I used this agency for my DTV Visa...recently on Google
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Graham *******
sound like you want to 12 month extension of stay. you need 800k Baht in a thai bank. If u have problems getting it use a visa agent to help. You might want to start getting up to speed with Thai income tax. This vid might help u.
*************************************************
Deb ********
We're going over on a tourist visa and will employ an agent to do it all for us.
Terary **********
I don't know it, but I have a friend from the US who tells me it's better to get the retirement visa within the Thailand. This is because of insurance. Just something for you to look out for.
I have used Agents bunches of times and I have no complaints. However, I think it's better to not use an agent if possible. I concern that once you start with the agent you'll be stuck using the agent.
Another problem I have had is where I open my bank account. For many of your interactions with your bank, you will have to go to the branch where you opened the account. If you open an account in Bangkok then move to Samui, you may have to travel to Bangkok to get your banking paperwork... There may be ways around this but do you really want the hassle.
I would recommend coming on an METV or DTV, figure out where you want to live for the next five years and start working on the requirements to moving here (seasoned bank account, purchase/lease condo, etc etc).
I have used Agents bunches of times and I have no complaints. However, I think it's better to not use an agent if possible. I concern that once you start with the agent you'll be stuck using the agent.
Another problem I have had is where I open my bank account. For many of your interactions with your bank, you will have to go to the branch where you opened the account. If you open an account in Bangkok then move to Samui, you may have to travel to Bangkok to get your banking paperwork... There may be ways around this but do you really want the hassle.
I would recommend coming on an METV or DTV, figure out where you want to live for the next five years and start working on the requirements to moving here (seasoned bank account, purchase/lease condo, etc etc).
Brandon ************
@Terary *********
there's no insurance requirement for non-O. Either in Thailand or at the embassy. It's the non-OA that had an insurance requirement.If you don't get the visa before you go to Thailand, it basically means you will have to use an agent to get your bank account since tourists can't open accounts anymore.
Kool *******
@Brandon ***********
some of the Thai embassy/consulates in the US were requiring at least a 90 day insurance policy for the type O visa, then no insurance requirement for the year extension once you are here. Not sure if they are still doing it.Brandon ************
@Kool ******
last I heard they still hadn't updated the website, but were no longer requiring it for the application.Kool *******
@Brandon ***********
ThanksReply to
Kool *******
Reply
Kool *******
@Bo *******
okay, you are looking at this the wrong way. Wait until you turn 50, then apply in the US for the type O retirement visa, using your American bank account. This will give you a 90 day type O visa, which will allow you to open a Thai bank account once you get here, then after your money has been in the account for 2 months you can apply for your one year extension. You want to stay here long term so do it right, and don't be in such a hurry. Waiting another month won't hurt. You can use the evisa website to do it all in the US before you leave. You don't need any agent.Bo ********
ORIGINAL POSTER@Kool ******
you missed the part where I am already here living in Bangkok.Kool *******
@Bo *******
in that case pay what you have to pay to get a Thai bank account. Don't use any agent for anything more than getting the bank account, and not in a location you don't plan to live. With the bank account once you turn 50 and the bt800,000 is in your account you can immediately apply for your retirement visa. You first get a 90 day visa, then after 2 months, you can apply for your 1 year extension. It is actually quite easy once you have your bank account and turn 50.Bo ********
ORIGINAL POSTER@Kool ******
easy is subjective. What’s easy for you may not be easy for someone else. I do know what is easy for me though. I’ll take that route. Thank you so much for taking the time.Kool *******
@Bo *******
I should have clarified if you want exact terms. The type O retirement visa extension is the easiest out of all visa/extension options for long term stay in Thailand to get.Reply to
Kool *******
Reply
Jason *********
My life is very similar to yours. I have been here 3 months already. Agents DO make magic happen. For sure get a bank account open and some $$ in it. There are many good visa options for 50yo. You can be a rock star here on your income. Enjoy!!
Bo ********
ORIGINAL POSTER@Jason ********
I just want to find a small community where I can contribute. Where did you decide to stay?Dennis ******
@Bo *******
nice to see someone actually mention they want to "contribute". Something I don't hear very often. 👍🏽Bo ********
ORIGINAL POSTER@Dennis *****
I’m just a poor guy from a poor town on a service retirement. My house burned down, lost everything and took the insurance $$. If there is a place in the world I can give back and it would be appreciated, I feel like this is it.Dennis ******
@Bo *******
sorry for your mishaps, and pleased that you are on the path of helping others in need. Being there is a real eye-opener. The majority of posts on Facebook are about "me" ... not very many ever mention contributing "to" the wonderful people and their country. Not much brings more satisfaction than helping others. 👍🏽If you want to volunteer in Thailand, that does require a special visa.
Reply to
Dennis ******
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Greta *****
There is only one thing you can do. Hope that some Thai girl reads your post and approve you to be her sugar daddy 😂
Greta *****
@Bo *******
It was a joke!Bo ********
ORIGINAL POSTER@Greta ****
do I look like I need to pay for women? Not why I am here.Reply to
Bo ********
Reply
Vijay *****
You may want to look at DTV...5 year visa..multiple entry...each visit upto 6 months...self employed ok...no income allowed in Thailand..Health insurance not required..processing time 3 weeks..apply in line.. Good startup...
Kenny *****
@Vijay ****
but many have posted that it is extremely difficult to open bank account with tourist visa DTV.Vijay *****
@Kenny ****
...well this will change. DTV is a new Visa. I personally, do not need a Thai Bank account. Almost all my transactions can be done using credit card, debit card and cash from ATM My bank reimburses all ATM fee instantly, and there is no foreign transaction fee.Reply to
Vijay *****
Reply
Mark ********
Take a look at the O-A visa. It may be of interest to you. You can get a 2 year stay out of it.
Bo ********
ORIGINAL POSTER@Mark *******
I would have to submit that in my home country and was unable to do so before this trip as I turn 50 October 10th. It’s definitely an option for the future, I just don’t want to go back. Nothing for me there.
Reply to
Bo ********
Reply
Stacey ****************
Depending on your full financial circumstances, you may qualify for the Wealthy Pensioner Long Term Resident VISA.
*********************
Frank ********
@Stacey ***************
If passive income is lower than USD 80,000 but above USD 40,000, the applicant must make additional investments of USD 250,000 in Thai government bonds, companies registered in Thailand OR Thai propertyBo ********
ORIGINAL POSTER@Stacey ***************
80k/year USD passive is the requirement. I’m at 64k so I would not qualify. So close!Brad *******
@Bo *******
The IRS 1040 does not include Roth IRA dividends (or if I remember IRA 401K dividends?). You can also in a tax year take a larger IRA distribution or sell some stocks for capital gains to possibly go over the 80K. But check with ExpatTax or other experts.James *********
@Bo *******
You'll be able to have a very comfortable retirement with 64k/ year in Thailand. Brandon will have very Sage advice for your Visa questions. I'd recommend renting vs buying, as it will allow you to live in different areas till you find the city/Province you like, or if you're already set on a City, you can rent different places until you find the residence you're most comfortable in that City. Best wishes 🙏Bo ********
ORIGINAL POSTER@James ********
thank you! I actually fell in love with Ko Chang with how quiet it is, but could definitely get boring. Samui has everything I need, perhaps if I just found a place on the East side of the island. Phangan was a little to extreme with either no people, too many people. To many hippies or too many parties. Spent a short time in Chiang Mai and Pai, but I am very affected by smells and smoke, I think I would hate those spring burning months. Saw a small bit of Krabi and haven’t gotten to Hua Hin yet. With the ability to rent and travel anywhere at anytime, it just makes the most senseJohn **********
@Bo *******
if you like Koh Chang I'd recommend looking around Chanthaburi. Not far away, great food, nice beaches, and not far to the larger citiesBo ********
ORIGINAL POSTER@John *********
yes! Thank you, I enjoy being away from the touristy stuff honestly. Although I enjoy supporting those communities as wellVon ******
@Bo *******
Hua Hin is a good place to explore South along the coastal villages till you get to Surat Thani.You can check out Praknam Pran about 25 mins South from HH and Pranburi is pretty big too, Bang Saphan is a very beautiful place 2.5 hrs South of HH.
I am in the selling up of all my possessions assets and my property and will be returning to Thailand to retire permanently.
All the best on your adventures!!!
Bo ********
ORIGINAL POSTER@Von *****
I had a chimney fire last winter in Montana and lost all of my possessions. Sold my Jeep before I came over this time. I pretty much have the clothes on my back, so I am ready. To you as well!!Reply to
Bo ********
Reply
Frank ********
@Bo *******
If passive income is lower than USD 80,000 but above USD 40,000, the applicant must make additional investments of USD 250,000 in Thai government bonds, companies registered in Thailand OR Thai propertyReply to
Frank ********
Reply
Brandon ************
You can either find an agent only to open a bank account for you, then transfer in 800,000 Thai baht which is what you will need to apply for the non-O visa conversion.
Or you find a visa agent that will open the account and pad the wallet of the immigration officers to look the other way that you don't have 800,000 of your own money in the account.
Both will end up with you having a bank account and a visa, but one is legally and the other is questionable.
Also once you start using an agent for your extensions, you're going to have to continue paying to do so each year until you deposit the required money in the bank for a year to meet the requirements and start doing it yourself the next year.
Or you find a visa agent that will open the account and pad the wallet of the immigration officers to look the other way that you don't have 800,000 of your own money in the account.
Both will end up with you having a bank account and a visa, but one is legally and the other is questionable.
Also once you start using an agent for your extensions, you're going to have to continue paying to do so each year until you deposit the required money in the bank for a year to meet the requirements and start doing it yourself the next year.
Peter ****************
@Bo *******
And maybe another (bit off topic) tip; keep y'r US bank account('s) and transfer to the Thai account at least that 65k฿ a month, but not TOO much, because Thailand is busy to tax that year income, if you live here more than 180 days a year. So far nobody knows exactly how it all will work out but anyway "To govern is to foresee".An almost sure rule still is, that money from 2023 and before, will still be tax free when transfered in 2024 to Thailand. So if you have y'r Thai bank account this year, try to transfer a nice sum, at least that 800k฿ ofcourse.
Maybe also already look into money transfer apps. like "Wise" or "Revolut".
Bo ********
ORIGINAL POSTER@Peter ***************
I have used Wise for the last 2 years of traveling. This is exactly my plan. I do not know what the Wise monthly limit is, but hopefully it’s enough. If so, then too easy. Thank youBrandon ************
@Bo *******
Just make sure you get a bank account with Kasikorn, Bangkok Bank, or SCB. Those are the only 3 banks allowed to receive more than 50,000 baht in a single transfer. I believe Wise limits a single transfer to one of those 3 banks to 2 million baht.Reply to
Brandon ************
Reply
Bo ********
ORIGINAL POSTER@Brandon ***********
this would work for me. As once I have the bank account and can stay long term, I can transfer the money from my bank. I have zero issues leaving 800,000 Baht in a Thai bank account. It does me no good in America anyways.Peter ****************
@Bo *******
I think indeed, the first part of the answer of Brandon is the best. Only open a bank account via an agent and put the 800k฿ (a bit more, not too critical) in that account as international transfer. And then ask an incountry non imm O based on retirement with the 800k฿. After about 60 days you can ask for the year extension, again based on retirement and the 800k฿. Should you also want to visit other countries, also arrange a re-entry permit, so your year extension keeps valid.I notice the money isn't a big problem but I still find it a pity, when you have enough monthly income, to lock up the 800k฿. So maybe a tip to also start transfering a bit more than 65k฿ every month for 12 months as international transfer to that account.
So for the second year extension, you can use these 12 transfers as prove of income instead of the banked 800k฿. (You need money anyway over here) Just a tip.
I know nowadays there are more and more visas to stay, but I still find doing the year extensions once a year the most convenient. But ofcourse it depends on personal circumstances.
Good luck ! 🙏
Bo ********
ORIGINAL POSTER@Peter ***************
yes, I think you are correct. And that is what I would do anyways so I have $$ here using a Thai bank card. Honestly though, my monthly income is more than I can spend for the rest of my life even in America. I am a simple man with no need for anything extravagant. Mostly luck that a poor guy like me ended up in this situation. So I tend to not fret over the 800,000k. Or overthink anything, I am already blessed to be here.Reply to
Bo ********
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