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Thailand Retirement Guide: The Essentials

Thailand Retirement Guide: The Essentials

Nowadays, many pensioners choose to retire to Thailand, thanks to the numerous perks that come with living in this tropical country. However, since you are probably moving to a vastly different culture, different climate, different legal environment, different economic environment, and so forth, it is only fitting that you prepare adequately to ensure you adjust fast enough and go on to enjoy your retired life.

 

Here are the essentials you need to keep in mind as you retire to Thailand.

 

  1. Get a Retirement Visa

A simple tourist’s visa won’t do if you are moving into Thailand to spend your entire retirement. This is why you need to make sure you meet all the requirements needed for you to obtain a retirement visa.

 

  1. Familiarize Yourself with the Thai Property Market

Renting, buying, and even leasing property can be fraught with risks in the Thai real estate market. This is why you should first familiarize yourself with the Thai property market before making any big decisions that could potentially ruin your financial future. Essentially, you should get an expert to guide you along.

 

  1. Health Care facilities

Generally speaking, Thailand has a pretty good health care system. However, you should know your options specifically as an expat, which should help you choose the place to live more appropriately and make the best of the top health care facilities in the country.

 

  1. Know How Much it takes to Live in Thailand

Cost of living is one of the major reasons people choose to retire to Thailand. Understand that even though the cost of living in quite low, there are still a lot of luxuries around the country’s cities that can wreck your retirement account if you are not very discerning. So, make sure your life is within your means if you want to enjoy life in this country.

 

  1. Money and Banking

Generally, if retirement into Thailand is what you want, you should open a Thai bank account, which is quite easy, to avoid exposing yourself to high currency conversion charges as well as fluctuations in the value of the Thai baht against other currencies over time.

 

  1. Driving

In general, you should avoid driving in Thailand as much as possible, especially in major cities. Accidents occur in thousands every year, and expats often become casualties. There is a reliable train system you can use if you live in Bangkok, just make sure your choice of residence accommodates such plans.

 

  1. Marriage and Divorce

Basically, you need to know about Thai marriage customs if you decide to marry a Thai. Fortunately, marriage and divorce is quite simple in Thailand.

 

  1. Work in Thailand

There are a few options for expats to make a living in Thailand, particularly in teaching of English as a second language. You should also know things expats are not allowed to do when in Thailand.

 

  1. Importation of Pets

Generally, importing pets is not that difficult, but you need to know what pets are not be allowed, as they will end up being confiscated at the airport.

 

  1. Having a Good Life in Thailand

You also need how to have a good time in Thailand. So, you should know about its best points of interests, thrilling activities you could engage in, popular social joints, and so forth.

 

  1. Transportation

You also need to familiarize yourself with the transportation options available to you in the country. These include the road, the train system, and even air.

 

  1. Plan Your Retirement

The importance of planning appropriately for your retirement cannot be overemphasized. The last thing you want is to end up completely impoverished and petitioning for help from your embassy. This may sound far-fetched but it happens more often than you think, especially for people who fail to plan appropriately for health care and end up spending all their money on health care.

 

Final Thoughts

Above is a comprehensive list of things every retiree should be aware of as they move into Thailand to enjoy their retirement.

 

Generally, these guidelines will help you avoid any problems with your legal status while in the country, help you live comfortably, and know your way around the country so that your retirement can be more rewarding.

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