Expert Retirement Planning

Retiring in Thailand may be the perfect option for the retiree who desires a new adventure. It's a country of great diversity, from the hectic streets of Bangkok to the tranquil islands of the south and the lush rainforests of the north. The "land of smiles" also has a unique culinary culture that many rate as one of the world's best. But there are some drawbacks to living in Thailand too - diseases and property laws being chief among them.

Retirement Visa to Thailand

In the past, many retirees (and other foreigners living in Thailand) would embark on the infamous monthly visa run. A Thai transit visa provides you with 30 days in the country and it used to be possible to renew this indefinitely simply by living and then returning to the country. But several years ago laws were passed that made this more difficult to do. Also, even if you can find a way to make it work now (some border points are said to be more lax and open to financial inducements than others), the hassle of leaving the country every 30 days may not be worthwhile anyway.

In that case, the best visa option for retirees is the Retirement class of non-immigrant visas (type "O"). To qualify for one of these visas, you need evidence of sufficient income to live in Thailand. This can be achieved either by depositing 800,000 baht (approximately US$22,000) into a Thai bank account for at least three months, or by demonstrating that you have an income of at least 65,000 baht (approximately US$1800) per month. If you meet these requirements and are over 50 years old, you should qualify for a one-year visa, which can be extended each year, provided you still meet the requirements.

Health Issues

The standard of health care in Thailand's big cities is actually very good, especially in private hospitals. The Bumrungrad Hospital in Bangkok is a magnificent health facility that could be mistaken for a plush hotel. Care is reasonably priced , but it's still best to take out health insurance before you come. If you end up living in a more remote area, finding top-quality medical care could become more difficult.

More concerning is the range of diseases that westerners are susceptible to in Thailand. Outside of the major cities, malaria becomes a worry, and preventative medication becomes necessary. Vaccinations against typhoid and cholera are also advised. And while food preparation standards are generally high, virtually every westerner who visits Thailand will end up with diarrhoea and other symptoms of food poisoning at some stage. Also - it's not advisable to drink tap water. Always drink bottled or some other kind of treated water in Thailand.

Real Estate

Purchasing real estate in Thailand can be a terrible experience. There is a different attitude towards property in Thailand. Foreigners can own buildings, but they can't own the land they stand on. This means condos are generally okay, but that depends on whether your developer is reputable. There are a variety of workarounds if you want to own a house, most involving putting the property under a Thai person's name. But again, this comes with an attendant set of risks. Foreigners who make an investment of at least 40 million baht in the country are allowed to own a limited amount of land. Also, many Thai's don't like to purchase a "used" home - so don't bank on making big bucks off your investment.

Renting is a better option for many people. Rents are cheap - even in the most exclusive areas, they don't come close to the prices you get in major cities like New York. And if you rent away from these areas, a place to live can be astoundingly cheap.

Cost of Living and Food

The cost of living in Thailand is low. If you spend as much as you did back in your home country, you'll be able to live very comfortably indeed, probably with a live-in maid, a large house and plenty of cash to go travelling around the country. A budget of US$1800 a month (the amount required under the visa) will buy you a very comfortable lifestyle indeed.

Food in Thailand is a delight - one of the world's most distinctive styles, and mostly made with wonderfully fresh ingredients. In the big cities there's a cosmopolitan mix of restaurants and all your fast-food favourites from the US too.