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Home » Reader question » Reader question: Questions about emigrating to Thailand
Reader question: Questions about emigrating to Thailand
Dear readers,
I would like to live in Thailand. To make this happen, I retired early. Calculated that I can meet the conditions with regard to income. But now, because the euro is weak and the baht strong, I no longer meet the conditions, I am 3500 baht a month short and have no savings (my house was under water).
Still, I would like to continue and hope to get some advice here. If I deregister in the Netherlands and arrange with the tax authorities that I will pay tax in Thailand, I will meet the conditions. But I think I can only arrange that when I stay in Thailand? Is it possible to go to Thailand with another visa first. Arrange my affairs there with the tax authorities and then still arrange an OA visa? It is my intention to travel around Thailand by bicycle, so I do not have a permanent home or place of residence.
My questions:
- Which visa should I apply for first?
- How do I arrange this with the tax in Thailand?
- Do I need a bank account and how do I arrange that?
With kind regards,
BertH
I assume you mean 35000?
Take a look at the above, almost everything can be found there
success.
Thick
Best man,
Being 42,000 baht short on an annual basis is a pitiful 2500 euros. Deposit this in a Thai bank, get an income statement from the embassy in Bangkok, have it if necessary. you see your income declarations at immigration in Thailand, and you are on a retirement visa.
If you can't cough up that 2500 euros, I advise you to look elsewhere in the world and place.
If you want to live here, it is best that you apply for a non-immigrant “o” visa in your home country, which you can then have converted into a retirement visa here.
You need:
– or 65000 baht income (e.g. pension)
– or 800000 baht in the bank
– or a mix of both.
If you have no savings and only pension income (which is insufficient), you still have to calculate whether you will make it here.
Of course, life in Thailand is cheaper than in Belgium or the Netherlands, but you will also have to rent (or buy over time) a house or condo, maybe a moped or a car, etc…
Below is another link to detailed information about the retirement visa:
http://www.thailand-info.be/thailandvisumretirement.htm
I completely agree with the position of the above comment. Thailand has certain requirements for long stays and they know why. Last week the forum here was full of comments about the low exchange rate of the Euro against the THB. There was moaning and lamentation and by whom? Usually by people who did NOT or barely meet the requirements and are now in danger of getting into trouble. If you don't have enough resources, I would say: don't start and wait until you do have these resources. This will save you from unpleasant surprises in the future. Make up before you start and build in enough reserves. It is not pleasant for anyone to have to conclude that you have committed a rash act and that it will cause you problems in the long term. No one currently knows which way the THB/EU will go. So if you can't handle a financial shock, stay where you are and store your beautiful dreams in the fridge for a while.
lung addie
Bart,
A somewhat obscure story. You start by stating that you do not meet the conditions for an OA visa. That is obvious! You have too little power cq. pension.
Then you say:
“Nevertheless, I would like to continue and hope to get some advice here. If I deregister in the Netherlands and arrange with the tax authorities that I will pay tax in Thailand, I will meet the conditions.”
And then I don't understand it anyway. Or do you mean that you expect to pay less tax in Thailand than in the Netherlands? That is correct in itself, because the tax burden in Thailand is 0%. Just make sure you have good health insurance in Thailand. Because when you deregister from the Netherlands (for tax purposes), your health insurance there will also immediately expire.
And what Dick says is correct. Much has been said/written about this aspect here on this blog.
1. BertH probably means that his gross income is sufficient, but not net. I think that with an income statement regarding gross income, he will also get a visa. My income statement shows my gross income and Immigration has never asked me what the net is..
2. 0% tax in Thailand? Again the famous fairy tale:
zie http://thailand.angloinfo.com/money/income-tax/
Teun, the tax burden in Thailand can reach 30% of income.
I'm afraid you've been counting on yourself too enthusiastically.
If you already cannot meet the conditions of income in Thailand, how will you insure yourself for medical expenses?
How are you going to pay for the move without savings?
I'm afraid that moving to Thailand will get you into deep trouble.
If you move to Thailand, this will also have consequences for the state pension accrual.
You will then receive less state pension.
I would think carefully and calculate again if I were you.
Quite right. Just came back from the tax consultant and that doesn't make you happy.
Everything went down again so hand it in again and bring money with you previously this was not the case and we got it back.
Unregistering and making a deal with the Thai tax authorities is not a requirement for staying there. Paying tax on what land and on what?
Deregistering and requesting that the Dutch tax no longer tax you for social security contributions is what you can do, the rest depends on the type of income you have.
Going to a Thai tax office to tell them that you want to pay tax there will not get you very far, because you are “nobody”, you have no work permit nor a more or less fixed status, nor is there an obvious treaty in force now that this sort of things really well now. What are you going to bring as evidence to make clear what you want?
The requirement for a residence in Thailand on the basis of retirement is an income per month of B 65000 or a freely withdrawable amount of B 800.000 in a Thai bank (upon renewal) or a combination of these two methods so that the total still amounts to B 800.000 out on an annual basis.
If the deficit now amounts to B 3500, what will it be at the next negative exchange rate change? Scrambling on the financial limit could end up breaking you down.
Answer to BertH's questions:
Apparently, at the current exchange rate of the baht 65.000-3500 = 61.500 baht per month. That is really more than enough to live on here. But not enough for a retirement annual visa.
1. In the first instance, a multiple non-O is a possibility (I assume you are 50+). You only need to have 600 euros per month according to this link: http://www.royalthaiconsulateamsterdam.nl/index.php/visa-service/visum-aanvragen. You can stay in Thailand for a year, although you have to do a visa run every 90 days. You can do that with this visa: just cross the border and back.
Who knows, you can save 20.000 baht per month, then next year you will have 240.000 baht in a Thai bank account, then your income only needs to be 560.000/12 ~ 47.000 per month and you have enough for a retriment visa.
2. You book a room in Thailand for a month or so, then you have an address. You need this to register with the Thai tax authorities. Suppose you book a room (e.g. in Jomtien Long Stay for 6000 baht, (excl. electricity) in Jomtien Beach, south of Pattaya, there is also a tax office (70m away) where you can register. But you need documents for this ( proof of residence address) from Immigration (also in Jomtien, 400m away) and for that you also need an address. But don't worry about this, you can still register in a year.
In any case, you can deregister in NL, which saves you direct health insurance premiums, state pension and other premiums. As mentioned, you can register with the Thai tax authorities later.
You can optionally take out a continuous travel insurance via JOHO for less than 700 euros per year (!)
This covers unexpected medical costs abroad (you are cycling so you are healthy, but you do run the risk of accidents), including unexpected travel back to the Netherlands due to family circumstances. I (55 at the time) did this for 4 years, which is also the maximum number of years. Received return ticket reimbursed due to the death of my father, and medical costs 100 euros.
http://www.joho.nl/verzeker/isis_continu/.
(I now have health insurance (AA+) only valid in SE Asia for 28.000 baht per year (!), deductible about 35.000 baht. You could do that too.)
3. You also need an address for a bank account. Arrange internet banking, of course.
First, stay quietly for a month in one place in Jomtien Beach, relax, arrange a bank account, look around, learn, enjoy the beach and the surroundings, and make your cycling plans. You can then temporarily cancel your room, make sure they store any mail you may have, store any unnecessary items in a safe in Jomtien Plaza Complex (1m away) and only then start your cycling adventure.
Supplement: at the end of the year you can arrange an income statement through the Austrian consulate in Pattaya and convert your non-O into a retirement visa (thanks to you hopefully saved 240.00)
240.000
BHT 28.000 per year: where?? after all the horror stories about insanely expensive ZKVs… are you still under 60?
Do not let them get to you! For a premium of 28 baht per year, you are insured for approximately 4 baht in hospital costs. If you want more coverage, then also a higher premium. Furthermore, and everyone knows this by now, the earlier you start, the more affordable the insurance will be in the long run. For example, someone who takes out health insurance before the age of sixty is assured of lifelong coverage, the premium is manageable, and an upgrade can take place at any time. In those cases, premium increases are very manageable. But if you are almost 65 years old and you still want health insurance in TH, you will pay more. All those who claim to be insured well and cheaply in TH should actually also report their age and circumstances at the time when they took out the insurance.
For the rest, make sure you have your affairs in order, not only with the tax authorities, but also with the health insurance fund. Nothing is cheap in TH let alone free.
It basically comes down to Soi, the older you are and then want to take out insurance, the higher the premium.
In fact, no more than logical and no less justified given the ailments that people can simply incur more often that are inherent because of ageing.
Otherwise, take a look at the hospital in Soi Bukau, there is a daily flow of older farangs who have some ailments, not surprising with the premium increases by the various health insurers.
Kees2, can you give BerthH the questioner and presumably many others the information about your health insurance that seems so beneficial?
Age, insurer, coverage, exclusions, maximum amounts covered, etc.?
Many will be grateful to you for that information, thanks in advance.
Nico B
Hello Kees2
I am very curious with which company you have your health insurance and on what conditions.
Very interested
Thanks in advance
Cor Verkerk
Thank you,
This is of some use to me. I also think that 61.500 baht is enough for me to live on. I don't need a car or a motorcycle. I also don't want to buy a house or anything like that. Furthermore, I am not a walker and do not want to live in a tourist resort. I'm also not looking for luxury so I don't need to live somewhere with a swimming pool and other things. Now Jomtien Beach doesn't really appeal to me, but I first want to go to Ching Rai for at least a month and know that you can also live and eat there quite cheaply. There I can indeed acclimatize nicely, relax, get used to cycling, etc. That way I think I will have money left over each month and after a year I will have enough in the bank to meet the conditions for an OA with my income. to get a visa.
I am also curious about your health insurance. Is AA the office in Hua Hin? I have already been in contact with them and I think you can take out insurance there for about 250 euros at the age of 62.
On another note, if I have health insurance and live in Thailand where do I need travel insurance
Dear BertH.
Visa OA.
For the avoidance of doubt, a Visa OA multiple can only be obtained in your current country of residence.
The lasting advantage of this is that you do not have to leave the country every 90 days.
In the 1st year that you live in Thailand on that visa, you must leave Thailand once by the end of this first year, before the validity date of your visa expires, and you can return immediately, you will then receive an extension for 1 year. By the end of that 2nd year you can apply for an extension at immigration and you will receive a retirement visa and so on every year.
You must meet the conditions, see the Visa file, essential for you is sufficient income and / or assets, which must be at least 800.000 together. If you cannot meet these conditions in the Netherlands, you cannot get an OA visa or an O visa.
If I'm correct, then you will start with a 90-day visa, which you convert to an O visa while living in Thailand. Then you may have enough time to arrange your affairs, especially in NL with an exemption from IB on your early retirement. . See the visa file. This way you could still continue your plans, put everything in a row chronologically, so that you are sure that you can also stay in Thailand.
If the Euro now falls even further compared to. the Thai bath, and that can easily happen to eg. 32 per euro, how do you get out of that if you are already on the edge? You have to fix that, otherwise you'll be on the kicking chair here.
Tax liability in Thailand.
There is practically none, but in NL you always pay IB on your Aow, now 8,35%, unfortunately there are plans to increase this to 19%.
Open bank account in Thailand.
Sometimes you can do that while you are not yet permanently living in Thailand, but you will have to come to Thailand for it.
Residential address Thailand.
If you do not somehow arrange a home address in Thailand, where you do not always have to stay in view of your plans, then you are asking for difficulties with Thai immigration, you must report there every 90 days, even with an OA visa. where you live, so arranging that is necessary.
Good luck with your considerations, but above all get your plan on paper very well and build in certainties, don't forget the costs of health insurance, if you don't have any assets now and no generous income to collect that, you take a Seems like an irresponsible risk to me.
Hope this is of some use to you and that you can get the picture conclusive.
Nico B