Thai Retirement Visa | A Comprehensive Guide
What is retirement visa?
Retirement visas are a type of passive income visa that has been popular worldwide since the 1980s. Typically, they are issued to retirees who have sufficient retirement funds or stable income.
In general, global retirement visas have the following characteristics:
1. Applicant Qualifications: Typically, retirement visas require applicants to be retirees, reach a certain age, or have retirement funds.
2. Restrictions on Employment: Visa holders are usually not allowed to work locally.
3. Path to Permanent Residency: After residing in the destination country for a certain period, retirement visa holders can often apply for permanent residency or even citizenship.
If you’re interested in retirement visas or passive income visas, you might want to read our informative article: ‘Global Passive Income Visa | An Incomplete Guide‘.
Thailand Retirement Visa: An Overview
Thailand offers two primary retirement visa options for foreigners looking to settle down in the country:
The Non-Immigrant O-X (10-Year) Visa:
This visa is exclusively available to citizens from 14 specific Western countries: Australia, Japan, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Sweden, Switzerland, United Kingdom, Canada, and the United States. It’s a 10-year visa that requires applicants to demonstrate assets of at least 3 million Thai Baht.
The Non-Immigrant O-A (1-Year) Visa:
The O-A visa is a more widely accessible option. It’s valid for one year and can be renewed indefinitely under the original conditions. Like most retirement visas globally, the Thai O-A visa does not permit holders to work in the country. Here are the specific application requirements:
1. Age Requirement: Applicants must be 50 years of age or older.
2. Financial Requirements: You must meet one of the following three financial criteria:
Maintain a deposit of at least 800,000 Thai Baht (approximately $22,000 USD) in a Thai bank account for at least two months prior to submitting your application.
Or, prove a stable monthly income of at least 65,000 Thai Baht (approximately $1,800 USD).
Or, demonstrate a combined total of a Thai bank account deposit and annual income exceeding 800,000 Thai Baht.
3. Health and Background: Applicants must have no criminal record and be free from prohibitive diseases such as leprosy, tuberculosis, elephantiasis, drug addiction, or syphilis.
4. Health Insurance: You must purchase health insurance with a minimum coverage of 100,000 Thai Baht each for outpatient and inpatient medical expenses annually. This insurance must be obtained from companies listed by the relevant local authorities.
Application Process:
The Thailand Non-Immigrant O visa is a traditional Thai visa, and its application process requires either an in-person visit or mailing documents.
You can gather all necessary documents and schedule an appointment at your nearest Thai embassy or consulate to submit your application in person. Alternatively, you can mail your application materials to the embassy or consulate. After approval, they will stamp your passport and mail it back to you.
Here’s a list of the required application documents for the O-A visa:
Valid Identification: This includes a passport valid for at least 18 months with at least one blank page, and a passport-sized photo with a white background.
While your spouse and children under 20 can reside with you in Thailand, they cannot be directly included as dependents on your O-A visa application. Once you obtain your O-A visa, you’ll need to sponsor them for separate Non-Immigrant O-type or ED-type visas.
Application Form: A completed O-A visa application form.
Proof of Financial Stability: If you’re relying on the deposit method, you’ll need to deposit the required funds into a Thai bank account and obtain a certification letter from the bank.
Criminal Record Check: A certificate proving you have no criminal record.
Medical Certificate: A medical certificate issued within three months prior to your application date.
Health Insurance Proof: You must provide proof of local health insurance coverage with an annual sum assured of at least 100,000 Thai Baht (approximately $2,800 USD) for both outpatient and inpatient care.
Visa Fee Payment Proof: The visa fee is 2,000 Thai Baht. If you also apply for a multiple re-entry permit, the fee is 5,000 Thai Baht.
Once your retirement visa is approved, you are free to enter Thailand within its validity period. However, there are two crucial points to remember:
2. Re-Entry Permit: If you plan to leave Thailand and re-enter multiple times within your visa’s validity, you must apply for a Thailand Re-Entry Permit. Without this permit, your O-A retirement visa will automatically become void upon exiting Thailand, and you’ll need to apply for a new visa to re-enter.
3. 90-Day Report: If your stay in Thailand exceeds 90 days, you are required to report your address to the local immigration department.
Visa Validity:
Thailand’s Non-Immigrant O-A visa is valid for one year and can be renewed indefinitely under the same conditions.
However, as a non-immigrant visa, it’s important to understand that you can never use a retirement visa to apply for Thai permanent residency or naturalization (citizenship).