5-Year Retirement Visa Thailand

If you’re adamant about turning Thailand into the ultimate retirement destination, then a 5-year retirement visa Thailand is your best possible choice. This visa offers you a life of relaxation in the Kingdom for up to 5 years with the option to renew once for a total stay of 10 years. This particular visa is also known as a Non-Immigrant O-X Visa, which is a multiple-entry visa renewable inside Thailand, enabling you to leave the country and return without needing a re-entry permit. It differs from the Retirement Visa Thailand in that it permits you to reside in Thailand for up to 10 years, rather than just a single year.

5-year Retirement Visa Thailand Eligibility Requirements

Certain eligibility requirements need to be met before you begin your application:

• You will have to be at least 50 years old on the date of application
• You will need to meet one of two of the following financial requirements:
  • A deposit of 3 million THB (or the international equivalent) in your bank account
  • A deposit of 1.8 million THB in your bank account alongside an annual income of 1.2 million THB (or the international equivalent)
• You will need to acquire health insurance*
• You will need to undergo a criminal record check and provide a police clearance report
• You will need to provide proof you don’t display any of the following diseases: drug addiction, elephantiasis, leprosy, syphilis (3rd stage), or tuberculosis
• Only the following nationalities are eligible:
  • Asia: Japan
  • Europe: Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Sweden, Switzerland, UK
  • North America: Canada, USA
  • Oceania: Australia

*NOTE: The amount of coverage required depends mainly on whether you are going to be covered as an inpatient or an outpatient. It must cover you for at least 400,000 THB for inpatient care, and 40,000 THB for outpatient care.

Conditions of 5-year Retirement Visa Thailand

Even after you’ve acquired your visa, to keep it valid there are a few conditions to keep in mind:

• You have to report to immigration every 90 days
• You can only renew the 5-year visa once up to 10 years in total
• You will need to maintain a certain sum of money in your Thai bank account:
  • During the first year, you will need to keep at least 3 million THB in your bank account or 1.8 million THB if you have a yearly income of 1.2 million THB or more
  • During the second year, you must hold at least 1.5 million THB in your bank account
• You must report to immigration every year to provide an update on your qualifications and an assessment of your supporting documents
• You cannot work in Thailand (you do have the option to volunteer, but only for any line of work specified by the Department of Employment)

How to apply for a 5-year retirement visa in Thailand?

Before applying, you should gather the necessary items, including:

• A valid foreign passport (must be of an eligible nationality) with at least 6 months remaining
• Proof you have paid the visa fee of 10,000 THB (or the international equivalent)
• Completed Retirement Visa application forms (downloadable from the website of the Royal Thai Consulate or Thai Embassy in your country)
• Recent passport-sized photograph (4 x 6 cm in size within the past 6 months)
• Proof of finances showing that you’ve met the financial requirements (can be presented in the form of a bank statement, bank book copy, or bank deposit certificate)
• Proof of health insurance (obtainable from the Office of Insurance Commission and Health Insurance of Thailand)
• A medical certificate procured within the last 3 months
• Marriage certificate  if your spouse is joining you
• Birth certificate if your child is joining you (must be under 20 years old to qualify)

After preparing these documents, you can start applying. The application process involves four steps to go through:

1. Ready all documents and apply for the Non-Immigrant O-X Visa at the nearest Royal Thai Consulate or Embassy in your home country or a country in which you have permanent residency.
2. Await the approval of your visa and receive the result from the relevant consulate or embassy.
3. Collect your new visa in person at the consulate or embassy.
4. Legally enter and live in the Land of Smiles.

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