If you have worked hard for 40 years or more and your kids are all grown up, you should be in a position to retire and what better destination than Thailand? You have probably been to the Land of Smiles a few times on holiday, which was enough to attract you to retiring there, and with that in mind, here are a few tips for a smooth relocation to Thailand.
✓ Land ownership – You probably know that foreigners are not permitted to own land in Thailand, you can own a house, but not the land it sits on. Don’t worry, there are ways around this; you could lease a plot of land for 30 years, with a further 30-year option, which gives you the security you need, or you could set up a limited company and the land is owned by the business entity. If you wish to build your dream home, lease the land and contact a local builder; make sure that a lawyer scans the lease before signing. You might find an ideal house for sale in Pattaya and you can either rent or buy.
✓ Learn to speak Thai – This will help you in so many ways and a Google search will put you in touch with an approved language academy, where you can book an introductory course for basic Thai. We recommend that you learn to read and write as well as speak, because Thai is a tonal language, therefore you need to know the characters to know the correct sound.
✓ Take out health insurance – Medical treatment is expensive in Thailand and that means you should take out comprehensive health insurance, which would cover any emergency situation. Start with a Google search to locate Thai insurers and choose the best package that suits your lifestyle. If you are worried about the summer heat, here are a few tips.
✓ Visas – Of course, you need to obtain a long-term visa and if you are aged 50 or over, you can apply for a retirement visa. There are financial requirements; either you must deposit 800,000 Thai baht in a Thai bank account or show proof of an income exceeding 65,000 baht per month. Never overstay your visa, as this can lead to jail and deportation; many retirees use visa agencies because the process can be time-consuming. The best solution is to apply at a Thai embassy in your home country, then you have the correct visa when you arrive.
✓ Don’t bring your furniture – While you could hire a container (or two) and ship all your belongings, the cost is high, plus customs can be very difficult when importing used items. Furniture is cheap in Thailand, so you are better off starting again with furniture, fixtures and fittings.
✓ Don’t compare things with your home country – When you compare prices with those at home, things will seem cheap and you might end up paying more than you should.
Thailand is one of the top retirement destinations and for many reasons; we hope that you enjoy your golden years in the tropical paradise that is known as Thailand.
