Thailand Retirement Visa is obtainable by anyone regardless of their nationality with 50 years of age or older. The applicant must have financial capacity to settle in Thailand. A retirement visa is actually an extension of an original non-immigrant single or multiple-entry O or B-type visa.
You can qualify for a Retirement Visa if you meet the following criteria:
1. You are 50 years of age or older; and
2. With a temporary Non-Immigrant Visa; and
3. A proof of ongoing source of income, such as pension, of not less than 65,000 Baht per month; or
4. An account deposit with a bank in Thailand of not less than 800,000 Baht as shown by bank account transactions over the previous 2 months (3 months for subsequent extensions); or
5. Earning an annual income plus bank account deposit totaling not less than 800,000 Baht as of the application filing date
No, the bank account name must only be of the particular applicant.
Since it is a requirement to have individual bank accounts, it is imperative that you have at least 800,000 Baht in each account.
You can start the retirement visa procedure outside Thailand, most preferably from your home country. Obtain a Non-Immigrant Visa which will be valid for 90 days from the date of entry. You can extend or convert this Non-Immigrant visa to a One-Year Retirement Visa in Thailand during the last 30 days of your permitted stay. The 90-day validity of your non-immigrant visa shall give you enough time to deposit in a Thai bank the required amount of money which must reflect for 2 months in the bank transaction certificate upon your visa application.
You will have the permission to legally stay in Thailand for one year from your retirement visa approval date. However, you are strictly prohibited from having employment while on this type of visa. Furthermore, you must report to the immigration officer in your area of residence every 90 days during your stay in Thailand. During this period, you need to apply for and obtain re-entry permit (single or multiple) at the Immigration office if you wish to leave and re-enter the country. Otherwise, the permit for you to stay for the rest of the retirement visa duration will become invalid.
You can annually renew your Retirement Visa at the Thai Immigration Office in about 2 weeks before the visa expires. The requirements you have to submit are the same documents as in your first application. However, remember that the Immigration Office, at their discretion, can ask for more documentation.
If your spouse is not eligible to apply for a retiree visa, she must get a Non-Immigrant O Visa before entering Thailand. This may also be extended for 1 year by submitting an application to the Immigration Department, stating as her purpose “to stay with the family”. You must provide a notarized marriage certificate together with other documents and financial requirements.