How to Get Pension Statement Issued From Your Embassy in Thailand to Apply For Thai Retirement Visa?

If you desire to spend your retirement years in the blissful place of Thailand, you will be required to apply and be granted with a Thai retirement visa. There are numerous documentary requirements that you need to comply with, but the authorities are much strict on financial aspect. You have to own an account with a savings of at least THB 800,000 or monthly pension which in the amount not less than THB 65000.

The account should be transferred in a Thai bank two months prior to your application and as a supporting document you must secure from the embassy a letter for verification of your pension statement.

When you visit the Embassy in Bangkok, there is an income form that will be provided to you. You just have to fill out the form with your pension income statement. Then you have to approach an officer for the signing of the form. The officer will sign as well as notarize the legal affidavit that you filled in, signed and sworn to.

They usually do not check or ask for any proof to support the stated pension income wherever it came from. You, alone, is the one making the statement of you pension income and is to sworn by you. Thus, should you include any false statement on the affidavit that you will prepare, you will be prosecuted and made liable by the consular official. Your embassy does not make any copies or record of this pension statement.

So, whatever pension letter was issued the day you applied is the one to be presented to the immigration bureau by us. The embassy does not even set the period of validity of this letter as it depends on the set validity period of the immigration which is usually 1-3 years.

To those who lack financial requirements for Thai retirement visa and want to settle in Thailand, TILA legal will find the ways for you.

What Are Benefits to Get a Thai Retirement Visa?

Getting a Thai retirement visa is easy and it comes with great benefits. When you are granted with this type of visa, you will be allowed to stay in the land of smiles for at least a year. One great benefit is the fact that this retirement visa Thailand may be extended if you intend to stay for longer period.

The requirement for a request of extension is for you to show proof that you are financially stable.  This can be in the form of a Thai bank account with savings of at least THB 800,000 or THB 65,000 monthly pension. To prove this, you may be required to submit supporting documents such as notarized letter from your embassy or photocopy of your passbook. This amount need not be maintained all throughout your stay but is required to be in that amount upon your application for extension.

Another great benefit that Thai retirement visa brings is that it is being issued either as single entry or multiple-entry. This is very convenient if you are planning to visit other places during the period of your stay in this place. This will save you from the hassle of going to the department of immigration to obtain and exit and re-entry permits.

Aside from this, you may also bring your wife or a love one with you by just filing an application for visa of your spouse.

With Thai retirement visa, you can have an enjoyable escape in this place while maintaining low cost of living and low taxes. You will have a year round of sunny days with pleasant people.

How I Can Buy A House In Thailand After A Got Thai Retirement Visa?

For many years now, Thailand, also known as the land of smiles, has been crowded by foreigners who would like to spend their retirement years there. Technically, foreigners who were granted with Thai retirement visa are not allowed to own a land or to purchase a house in their own name in this beautiful place.

One of the many reasons why people granted with Thai retirement visa usually opt to extend their stay is because properties in Thailand like house are very cheap. Since, foreigners with retirement visa Thailand are prohibited from having a house in their own names there are some alternatives that will effectively work. The commonly used option is setting up a Thai limited company which can legally own a house in its name. To set up the company, you must work with at least three partners who are all Thais. Your partners must own 61% of the shares of the company and you may own the remaining 39%. You must, however, make an agreement with your partners that you will be the director who is the only one to exercise the signing rights for the corporation. The set up corporation must be a working one and must comply with payment of tax obligations.

If you have a Thai retirement visa, but do not have the capacity to set up a company and still desire to buy a house in Thailand, you may also enter into lease agreement with option to purchase. The lease contract is being entered with the registered owner of the lot and will last for 30 years before you can exercise your right to buy it. The more convenient option is for you to request a Thai national whom you trust to buy the house in his name but is to be turned over to you.