Let’s face it, we work hard all our lives, paying our taxes and raising a family until we reach retirement age; a time when you should enjoy life. If you have chosen Thailand as your preferred retirement destination, you certainly aren’t alone, and with that in mind, here are a few tips to ensure that your relocation goes smoothly.
- Spread your wings – You should explore the four corners of Thailand; the north is very different to the south, while the northeastern part of the country is stunning; a region that grows rice and fruits. If a beach life is what you’re looking for, Pattaya, Hua Hin or Phuket are ideal. Only when you have experienced all regions of the country can you make an informed decision as to where to build or buy your dream home.
- Rent before buying – Prior to looking at villas for sale in Thailand, rent for a few months to see if you like the immediate area; Sichon is a stunning place with natural beaches stretching for miles; situated near Surathani, a relatively under-developed city which is the gateway to Koh Samui.
- Set up a limited company – You probably know that foreigners are not allowed to own land in Thailand; one solution is to set up a limited company and acquire the land in the company name. Talk to a leading real estate agent and start looking at luxury villas in a new development and a business lawyer will guide you through the company registration process.
- Use a visa agent – While it is possible to apply for a retirement visa yourself, hiring a visa agent takes away the hassle. The agent would give you a list of things you need to do, including opening a Thai bank account and depositing the sum of 800,000 Thai baht. The visa is renewed annually and if you plan to leave Thailand for a short period, make sure you obtain a reentry visa; otherwise, your retirement visa will be void.
- Learn to speak Thai – It is much easier to go about your daily life if you are able to communicate with the locals; English is not widely spoken outside of tourism areas. Join a twice-weekly class and learn new words that you can use in day-to-day life. The Thai people are warm and sincere, fun-loving people who like to converse with foreigners. Click here for quiet places to holiday in Thailand.
- Health insurance – It is essential that you have comprehensive health insurance when living in Thailand; search with Google for a top-rated Thai insurance provider and check out their various policies designed for retirees in Thailand. There are some top hospitals in Bangkok but they are not cheap and without medical insurance, you are risking your savings.
Check out the Tourism Authority of Thailand website for more information about entry requirements and we hope you enjoy your retirement in the sun.
