Retirement visa Thailand – Should I?
Retirement is financially difficult for many of us. The median retirement account balance of most western households near retirement is very low, and many people will be dependent on Social Security benefits and deciding whether heating and air conditioning are more important than buying ones medications. One way to reduce your cost of living is to retire to a lower cost country. You money will go much further in Southeast Asia than in a western country. Thailand is a great example of a country many people contemplate as a retirement spot. Here are seven reasons to consider getting a Thailand retirement visa:
A lower cost of living. Thailand retirement delivers a cost of living that is way more affordable than in the western world. You can buy a comfortable one-bedroom condo in the central Chiang Rai area for around $60,000 or rent one for about $350 per month. Food, transportation, entertainment and other necessities are all more affordable here. Many expats can live a very comfortable lifestyle on $1,300 per month in Thailand. It’s a great alternative to scraping by in The U.S.A, The UK, Canada, Europe or Australia.
Thai food. Thai restaurants are a favorite for many of us. If you like Thai food, retiring in Thailand will be a foodie paradise for you. There are many different dishes that just aren’t available in the U.S. You can also take cooking classes for an affordable price to learn how to make those dishes. Exploring Thai cuisine can be a great retirement activity if you have the time. While the food is much spicier in Thailand, you can always ask the restaurants to make your food without chili peppers.
Foreign foods are available. Of course, we all like our comfort foods, too. The good thing about Chiang Rai, Thailand is the availability of cheese, wine, peanut butter and even Vegemite and Marmite. There is also a huge diversity of restaurants to choose from. Japanese, Mexican, Indian, Korean, American and Italian if you need a taste of home. Foreign restaurants are more expensive than local places, but it can be a great comfort for expats.
Warmer climate and exotic setting. If you are tired of dealing with snow and ice, then an umbrella drink in Chiang Rai might be a good fit for you. It takes a little time to get used to the humidity, but that’s what the AC is for.
Travel headquarters. Chiang Rai,Thailand is a great starting point for traveling to the rest of Asia. There are many discount flights to the surrounding countries. China, Japan and Vietnam are all fascinating and worth a visit. Living in Thailand for a couple years could give you an opportunity to thoroughly explore these foreign cultures.
Retirement visa. Thailand Retirement visas are available to foreigners age 50 or older or people married to a Thai citizen. These retirement visas are good for one year and can be renewed without leaving the country. If you can show proof at least 800,000 Baht in a Thai bank account or an income or 65,000 Baht per month you can apply for a retirement visa. If you can show proof at least 400,000 Baht in a Thai bank account or an income or 40,000 Baht per month you can apply for a marriage visa.
Many foreigners. Thailand had over 30 million foreign visitors in 2018. So you will be able to meet many expats and tourists. Most local people are used to foreigners, and won’t stare too much. There are many businesses that cater to foreigners including restaurants and grocery stores.
If the culture agrees with you, retiring in a more affordable location like Chiang Rai, Thailand can significantly reduce your living costs.
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