Retiring In Thailand - How To Retire In Style In Thailand On Little Money
Why Numerous People Are Considering Retiring In Thailand
Like countless husbands of Thai wives, me and my Thai wife are expecting to be retiring in Thailand this year. It is pretty commonplace for ‘Farangs’ (the Thai name given to western foreigners) married to a Thai National to retire in Thailand, but what’s more hundreds of non-married people retire in Thailand also.
Why do several people retire to Thailand, other than to provide their partner a house in their own native land?
Following are a number of of the reasons you could wish to retire to Thailand:-
1. Wonderful outlooks both inland and by the sea
2. Delectable hot and spicy Thai cuisine
3. Wonderfully hot climate
4. Low cost of living
5. And last but by no means least - the delightful colourful and mystifying Thai customs
6. With it’s wonderful bhuddist temples, that inspires it’s superb architecture, classic tradditional costumes and music, Thailand still retains it’s mysterious eastern origins and is more ‘eastern’ as any other eastern state.
There possibly will be other reasons that so many people are thinking about retiring in Thailand - each person has their own reasons. But one thing is certain, you do not need to be prosperous to retire in Thailand, you will be able to live extremely well there for a small percentage of what it would cost you in the West.
What Is The Minimum Income Needed To Retire In Thailand Comfortably?
Certain people claim that you can live quite nicely on $700 a month. That equates to about 23,100 Thai Baht monthly.
If your age is fifty plus and can demonstrate an income of 65,000 Thai Baht monthly then you may meet the requirements for a Thai retirement visa. That equates to approximately 2,000 US dollars monthly and it decreases to 1,200 US dollars or 40,000 Baht if you are married to a Thai national.
40,000 Thai Baht monthly is a high salary for a Thai National in a respectable job working for Thai Airways. I know because a relation of mine in Bangkok earns precisely that. And she has a BSc and an MSc plus years of experience! With that 40,000 Baht she is able to pay off a mortgage on a new house in Bangkok area, pay off a loan on a brand new Japanese auto and then have enough remaining for everyday living and holidays.
Should you have no loans or mortgage to pay off that 40,000 looks to me to be an entirely reasonable income to retire comfortably in Thailand.
Of course, you will need someplace to live in.
Property Ownership In Thailand For ‘aliens’
It is extremely hard - impossible possibly - for non-Thais to own land in Thailand. This used to be possible through different tortuous ways but the Thai government gradually got wise to what was going on and made additional laws to put a stop to that. Only Thai’s can own land in Thailand.
What’s the answer?
Well, there are a couple of choices.
Buying An Apartment In Thailand Without Owning The Land
Under Thai law, expressly the Condominium Act, ‘aliens’ (i.e. non Thais) are allowed to own apartments in Condominiums. That is only if no more than 49 % of the condominium is owned by foreigners. But the ‘alien’ can’t own the land upon which the condominium sits.
There are downsides with this which by and large relate to what the Thai owner of the condominium considers to be his responsibilities. His opinion on this may well differ from that of the actual Thai law!
Investing In A Home In Thailand Under The Name Of Your Thai Spouse
On the assumption that that you think that you will stay in harmony with with your Thai partner for the remainder of your intended retirement in Thailand, you may consider investing in a house in their Thai name. Naturally you will in no way own the property and your investment will always be under your partner’s control. But if you are comfortable with this it is an option.
You may also want to take into account what would happen to the ownership of the property if your Thai partner were to die ahead of you. An unsavoury subject I know, but it may be a serious subject for you.
Some Other Things To Think About Before You Make The Final Decision To Retire To Thailand
Appreciating The Thai Ethos
Should you have been in a relationship with a Thai for a significant period, you will know about the differences between the Thai culture and that of the west. If, however, you do not have this awareness then I recommend that you read one or two of the various books on the topic prior to making the definitive decision about retiring in Thailand. You could in due course get fed up with of what at first may appear as ‘cute’ behaviour.
Additional Information With Reference To Retire In Thailand
I hope you have appreciated this short guide to retiring in Thailand. And it is just that - a brief guide. I have only began to scrape the surface here and suggest that if this focus interests you that you find out more by reading my other articles or by going to the Retiring In Thailand website. On the website which is updated day by day, you will discover a mine of valuable information about retiring in Thailand. Like how to build a house in Thailand and what it will cost all the way through to retirement visas and acquiring an automobile.
All individuals have their own exclusive motive for moving to Thailand. A youthful tourist in search of something different, a person in search of a way to earn some cash.
Otherwise maybe you are someone in quest of your second childhood, a forlorn divorcee yearning for a fresh relationship, a retiring senior wanting to let everything go and get pleasure from his leisure years.
No matter what your raison d’être for coming to Thailand, one thing is for sure. . . you’ve arrived at the right place to receive great information and resources for satisfactory retirement to Thailand.
Staying in Thailand for an extended break in advance retirement to Thailand is a fine way to learn if this is the Heaven for you. No shortage of westerners go to Thailand for 6 months to twelve months to discover if it’s a good idea to retire in Thailand and investgate the part of Thailand they want to retire to.
Extra Suggestions Regarding Retirement In Thailand
Building A Retirement House in Thailand
How to get a Thai non immigration visa from the Royal Thai Consulate, Birmingham, UK
