The retirement visa for Thailand is also known as the OA visa. This visa allows you to retire in Thailand and it has to be renewed each year for as long as you live in Thailand. This is the process. There are a few basic rules which needs to be met in order to retire in Thailand and these are the basic rules. Speak to our lawyers in Krabi if you need any assistance with the finer details of retirement in Thailand. You need to have the following:
- You need to have a valid passport to prove your age;
- You need to have a medical certificate to prove that you are well;
- You need to prove that you don’t have a criminal record.
Those are the most important first steps once you are in Thailand as the visa you applied for from the embassy is only valid for 3 months when you enter Thailand. The process needs to be started before the visa expires else you have to leave the country and obtain another visa. If you are able to prove/make available the above then you need to prove that you have the ability to meet the financial requirements. These requirements are as follows:
- You need to have an income of at least 60,000 Baht a month; or
- Have a bank balance in Thailand showing at least 800,000 Baht.
If you cant meet the above they will accept a combination of the two. This a lawyer in Krabi will complete for you and show you what will be needed. If you are on a pension you need a letter from your embassy to prove that you have the monthly income. Most incomes are government pensions so the embassy will verify this and prove the letter to confirm. The bank balance needs a letter from the bank and it has to have been in the bank account for at least 3 months before application. Our lawyers in Krabi will be able to provide you with the latest changes on the requirements as the visa requirements are always changing.