Thailand is popular across the globe for its scenic beauty. It has some of the most beautiful landscapes that are pleasing to the eyes. Together with it, Thailand also has an atmosphere of calmness in its serene beaches. Plus, several other reasons make it the ideal retirement destination for seniors. Read on to find out more about it.
Also popular around the world as the “Land of Smiles”, Thailand gives more than a hundred reasons to live on its soil. For most foreigners, it is a paradise with an affordable cost of living, numerous opportunities, and the best climate and culture.
Thailand has also one of the most interesting culture around the world and welcome foreigners with both hands. Locals are well known for their hospitality, awesome food and respect, which makes Thailand a safe place to live, in South-East Asia, under the sun.
Last but not least, Thailand offers “Non-Immigrant Visa “O-A” (Long Stay)” to citizens from other countries who are over 50. While this visa may not allow people to earn but it is the best visa for seniors to live in the country.
If you are over 50 and wish to live in Thailand after retirement, then a Thai retirement visa is the ideal choice for you.
The approval of your visa application will be subject to the fulfillment of some terms and conditions as specified by the Royal Thai Embassy.
With a Thai retirement visa, you can stay in Thailand for one year. Also, you can renew it as for as many times as you want.
From a financial standpoint, you need to either have at least a bank deposit of 800,000 Thai Baht in a bank account with one of the banks in Thailand. In addition, you may also need a police clearance and medical clearance for selective cases. Also, 90-day reporting is mandatory for Thai visa holders.
The cost of living in Thailand may range between 30000 Baht (850 euros) and 70000 Baht (2000 euros). A lot depends on the type of life one wants to live in the country.
Also, it depends on the city one chooses for residence in Thailand. Bangkok is more expensive than the country side and the north part of Thailand is generally more affordable than the islands in the Gulf of Thailand.
While you can live in all the aforementioned budgets in Bangkok, you need more for cities such as Chiang Mai and Hua Hin. If you wish to live a comfortable life by addressing all the basic needs, then 3,000 Baht per months will be enough for you.
However, you’d be better off with a higher budget for a luxurious lifestyle.
Most foreigners who wish to live in Thailand post their retirement wonder if they are eligible to buy land in Thailand. This question is one of the most discussed among the expat community since Thailand is a land of opportunity for real estate investors, especially due to the low prices compared to the European market.
Samui Exclusive, a real estate agency in Koh Samui, declared that “The law of the land in Thailand does not favor the takeover of land by foreigners. They are not allowed to buy land in their name but there are indirect means by which one can invest in a residential property in Thailand. Invest in an apartment or a condo is allowed but if an investor wants to own a land, foreigners need to make sure they set up a company with the partnership of a Thai national, with a foreigner’s share of 49% in it.”.
Thailand has considerable diversities when it comes to choosing a city.
Here are a few great places to explore:
Thailand ticks all the right boxes of one’s needs to be the perfect destination after retirement for foreign nationals. You can enhance your living experience in Thailand after your retirement by choosing the right city based on your affordability. In case you are not sure how to go about buying a piece of property or apply for a visa, you can get in touch with an expert.