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ResourcesVisa & Immigration LawThailand Immigration LawDoes Thai Retirement Visa Income Need to Come from Abroad?

Does Thai Retirement Visa Income Need to Come from Abroad?

Transcript of the above video:

As the title of this video suggests, we are discussing retirement visas yet again as it is quite a hot topic here recently with respect to recent changes in the law and the regulations regarding retirement visas and retirement visa extensions.  For more information on this topic generally, we have many videos that I've recently made on this topic especially with respect to the change in financial requirements for those who are using a lump sum amount kept in a Thai bank account.

This video however is discussing income.  We recently did another video which discusses income as well. But the thing to take away from this video is I have been getting a few questions with respect to how income is perceived by Thai Immigration Officials and it looks to me as though they are going to be looking at income as pension income, or passive income if you will, and it has to come from abroad. It looks to me like that is going to be hard and fast rule. Income in the Kingdom of Thailand is not going to be usable. I think it is probable that they are going to go ahead and require that the income used in a retirement visa application or extension here in the Kingdom, it be shown that income is derived from a source abroad and is being transferred in to one's personal bank account here in the Kingdom of Thailand.  

This is somewhat different than some things I have heard and read in the past few weeks but I think it makes sense with respect to the overall shift in policy. It is very clear they want to see that the money on these folks that are seeking retirement visas is actually in their accounts and moreover they want to make sure that if they are not using a lump sum, that they are actually deriving income from abroad; it is being brought into Thailand for their use here in the Kingdom.  

A few people have asked me why this is being so strictly enforced now after years of relative ease of enforcement. Well one, it was always enforced. It is just there has been a major change with respect to the fact that Income Affidavits are no longer usable in the context of the Retirement Visa.  So there really has been no change with respect to the law, there has just been a change with respect to the administrative rules and regulations that are promulgated in connection with this law.  

So moving forward I think it's safe to assume that all expats are going to need bank accounts if they are using retirement status and if it is income that one is going ahead and using to justify the extension of retirement visa status that income is going to have to be shown to be coming in from abroad.