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 a move to Thailand.
Thailand’s Main Retirement Benefit: The Retirement Visa
One of the best reasons to choose retirement in Thailand is that you can get a retirement visa. Many 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 that will take out some of these steps for you. The main requirement is to be 50 years or older, and that you open a retirement account in the country with at least $25,000 USD in the account to support your living expenses.
Reasons to Retire in Thailand
Thailand has a lot of things going for it as a place to retire. For one, it is inexpensive. If you have never been a homeowner before, it might be wise to move to a country like Thailand that has a lower cost of living. If you don’t have a massive retirement fund, choosing a place like Thailand can also help to alleviate financial pressure. Your dollar will stretch much further.
Thailand is a great place for retirees because of its naturally slower pace of life. You won’t really experience the frenzied workaholic culture that you might come across in many other countries. If you are really looking to relax, then this is a great atmosphere to be in. You will also be able to fully take advantage of the local culture because it is more affordable.
You could probably go out to eat or to cultural events more often. And it’s a good starting place for traveling around the region and seeing other Asian countries. Flights to other countries are extremely affordable. But with plenty to see within the country of Thailand, you won’t get bored if you decide to simply kick back and enjoy the local scene. As you can see, retiring to Thailand has a lot of perks, no matter what your reasons are for considering retiring abroad. And the Bangkok airport has great connections to other international cities if you ever need to return home to visit friends or family.
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, which could be uncomfortable for some retirees. You may also need to be more careful about food and sanitary conditions. Healthcare 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 really be about balancing the cost and pace of life with your access to amenities that you want access to during your retirement. Should you choose to retire to Thailand, you would need to weigh the pros mentioned above with these issues that could make life more challenging during your retirement.
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 can be found in the North in cities like Chiang Mai.
While housing costs may not deter you from finding a great property in Thailand, some of the more remote provinces, like Phrase province, may offer a lower cost of living and a more natural integration with the local culture. In short, it really depends on what you are looking for. You might want to pay a visit to several different provinces in the country before you decide where you want to live. Your visa status might differ based on the province you want to settle in, so it’s a good idea to know where you want to land before you start the work of looking for housing and applying for your visas. While there is no best place to retire in Thailand, you may find that there is a stronger retirement community around Phuket and the other Southern cities because of its very moderate pace and its beautiful setting.
Cost of Retiring in Thailand
The cost of retirement can very greatly, but it’s safe to say that you could get by on less than $1,000 per month if you are careful. The official recommendations vary based on the area you wish to live in, but the minimum recommended for a retirement visa holder is around $1,500 USD to be on the safe side.
In short, there are many great things about retiring in Thailand. If you are looking for an affordable country with a lot of natural beauty and a laid-back atmosphere, Thailand is a great place to consider retiring.
