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Thailand often comes into people’s minds when they are looking for another country to retire to. Here are some things that you may want to know if you are thinking about retiring in Thailand.
Thailand’s Main Retirement Benefit: The Retirement Visa
One of the best reasons to retire in Thailand is that you can get a retirement visa. Other types of expats will have to show proof of employment in the country. Or make repeated visa runs in order to stay in the country legally.
But if you meet certain income and requirements, you can apply for a retirement visa. This will take out some of these steps for you.
The main rule is to be 50 years or older. And that you open a retirement account in the country with at least US$25,000 in the account. This is to show you can support your living expenses.
Read a more in-depth guide on how to get your Thai retirement visa here.
Reasons to Retire in Thailand
Thailand has a lot of things going for it as a place to retire. For one, it is inexpensive. It might be wise to move to a country like Thailand that has a lower cost of living. Especially if you’ve never been a homeowner before.
Choosing a place like Thailand can also help to ease financial pressure. If you don’t have a massive retirement fund, this is the place to be. Your dollar will stretch much further.
Thailand is a great place for retirees because of its slower pace of life. You won’t experience the workaholic culture that exists in many other countries. If you are looking to relax, then this is a great atmosphere to be in. You will also be able to take advantage of the local culture because it is more affordable.
Ups and Downs of Retiring in Thailand
It wouldn’t be fair not to mention some of the challenges that could come along with retiring in Thailand. One of them would be transportation. Depending on what area you are in, you might not have the access to well-maintained roads that you are used to.
Travel to other regions is often by long-haul bus. This could be uncomfortable for some retirees. You may also need to be more careful about food and sanitary conditions. Health care could be another issue if you are in a more remote area. But the main cities have access to well-trained medical professionals.
It will be about balancing the cost and pace of life with your access to amenities that you want during your retirement. You would need to weigh the pros mentioned above with these issues that could make life more challenging.
Where To Retire In Thailand
You are probably wondering what places are great to retire within the country. There are plenty if cities that offer a lot to retirees.
You might want to live in one of the Southern areas, such as Phuket or Hua Hin so you have easy access to the beach. The hustle and bustle of Bangkok may not be the best choice for you if you plan to retire in your home in Thailand.
Some people prefer more of the jungle vibe which you can find in the North in cities like Chiang Mai.