So, you are finally approaching your very last day of work and you are excited about relocating to sunny Thailand. Time flies and before you know it, your flight dates will arrive and with that in mind, here is some important information to help you make the transition to a happy retirement.
Long term visas
If you are over the age of 50, you can apply for a retirement visa and take out OA visa health insurance which is a compulsory requirement for OA visa holders. Medical treatment can be very costly in Thailand, where there are world-class hospitals, so make sure you are adequately covered. The retirement visa requires that you open a Thai bank account and deposit 800,000 baht, which must be done 2 months prior to applying for the visa. The visa can be renewed in-country every 12 months and if you leave the country, make sure you obtain a re-entry visa, otherwise your annual visa is void as soon as you leave the country. Never allow your visa to expire, as this is a serious matter and you could end up on a deportation list.
Real estate – Buy or rent?
This is a dilemma that every retiree has to face; in case you did not know, foreigners are prohibited from owning land, however, there are other options. You can, for example, lease a plot of land for 30 years and build your dream home; you can add a further 30-year option so you can leave the property to your children. Another option is to set up a Thai limited company, of which you are allowed to own 49% of the shares, while a Thai(s) has to be the majority shareholder with at least 51%. The entity must be trading’ if the government think the company was formed with the sole intention of acquiring real estate, the assets can be confiscated.
Condominium ownership
Foreigners are able to buy condo units, providing the majority of owners are Thai and there are some luxury developments in Pattaya, Hua Hin and Phuket. You must show evidence that the funds came from abroad; talk to a Thai lawyer for more information. The other option is to rent a home, which many retirees prefer. Click here for tips on how to stay mentally sharp when you are retired.
Where to live
Thailand is a large country, with different climates; the tropical south is very popular, while some prefer to live in the mountainous north of Thailand and let’s not forget Issan, the northeast of the country, which is full of natural beauty. Popular destinations include Pattaya and Rayong on the Eastern Seaboard, Hua Hin and Cha-Am which are located a few hours’ drive south of Bangkok and if you travel a bit further south, Pranburi is under-developed and ideal for a quiet retirement home. You should come for an extended holiday and spend a few weeks in different regions to get a feel for the place. Renting for the first year makes total sense, then you can choose something more permanent.
Learning the Thai language
If you want an easy life, we recommend joining a Thai language class, or hiring a Thai teacher for daily Zoom lessons, then practice whenever you are out and about. Thai people warm to foreigners who make an effort to speak their language and there are some who would say that the key to understanding Thai culture is in the language. It is not an easy language for westerners to grasp, with 22 consonants and 22 vowels; Thai is a tonal language, with 5 tones, high, medium, low, rising and falling. Some people pick it up quicker than others and if you persevere and are not shy, you should develop quickly.
Pursue your passion
The worst thing that you can do is to retire in Thailand and not have anything to do. Take up golf, fishing or kite-flying, something you enjoy doing, otherwise you will soon become bored. Buy a small motorcycle and tour the province or better still, buy a car and explore the country. Thai roads are in excellent condition and they are on a par with any developed country.
What to bring
You might be planning to fill a container and have it sent to Thailand, which is actually expensive due to import taxes; you are probably better off selling everything and buying in Thailand. Prices are reasonable, or you can rent a fully furnished house and acquire a few essential items. If you still have a few months before you fly to Thailand, join a few Facebook expat groups and they can answer many of your questions.
Hiring an agent to handle your visa application, opening a bank account and obtaining a driving licence and you won’t get stressed out. Check with Thai Immigration for the latest entry requirements and we hope that your retirement years are happy ones.
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Mudassir 
AbdulBasit 
UmarAwan