Hi there ,you seem to be a good old bunch of guys and very informative as well . been lurking over these pages for last few weeks and have learned quite a bit from your posts both past and present . Coming to HH in October of this year and if I like it there plan to retire there ,which a few of you have allready done by the looks of it . Anyway ques 1 is this
what would be a basic survival income out there ?
and what would be considered a good income ?
q2 is I will plan to come on a retirment visa which I believe involves depositing around £11.000 in a Thai bank . Does this then become a taxable income in Thailand at the rate of 15 percent.
will be gratfull of any insight into these ques . thanks
cost of living in HH
cost of living in HH
looking towards the sun
Hi JRmoving,
I think that the required income depends on your desired life style.
In my experiences about 25,000 Baht/month should be completely enough for a relatively comfortable life in Thailand.
Keep in mind, that this is 4-5 times more than the average income of the locals.
On the other side, if you love an extrovert lifestyle (i.e., many willing girls, a lot of beer, 3 warm meals during the day), even 50 000 Baht/month won't be enough
.
In view of your visa I'd recommend to apply for a Non-Immigrant Visa, category "O" at the Thai-Embassy in London at first.
This kind of Visa permits you to apply for a retirement-visa in Thailand.
Alternatively you can go then to the immigration authority in Bangkok or PrachuabKhirikhan.
If you're older more than 50 years a bank deposit not less than 800,000 Baht or a monthly pension not less than 65,000 Baht is required in the moment.
Also a combination of bank deposit and pension is permitted.
(I.e., bank deposit 400,000 Baht + 32,500 Baht pension/month)
It would be the best, if you let certify your pension proof by the British Embassy in Bangkok.
Your bank balance is tax-free, only the interest is taxed.
Also your pension is tax-free in Thailand (double taxation agreement between Great Britain and Thailand, 01-07-1999).
However, I would avoid letting transfer your pension directly to Thailand.
From my view it is better to fetch only the money by ATM that you really needs ... the rest should remain as a sure currency in the UK.
Hope I could help you a little bit with this information!
A lot of luck and successful relocation!
I think that the required income depends on your desired life style.
In my experiences about 25,000 Baht/month should be completely enough for a relatively comfortable life in Thailand.
Keep in mind, that this is 4-5 times more than the average income of the locals.
On the other side, if you love an extrovert lifestyle (i.e., many willing girls, a lot of beer, 3 warm meals during the day), even 50 000 Baht/month won't be enough
.In view of your visa I'd recommend to apply for a Non-Immigrant Visa, category "O" at the Thai-Embassy in London at first.
This kind of Visa permits you to apply for a retirement-visa in Thailand.
Alternatively you can go then to the immigration authority in Bangkok or PrachuabKhirikhan.
If you're older more than 50 years a bank deposit not less than 800,000 Baht or a monthly pension not less than 65,000 Baht is required in the moment.
Also a combination of bank deposit and pension is permitted.
(I.e., bank deposit 400,000 Baht + 32,500 Baht pension/month)
It would be the best, if you let certify your pension proof by the British Embassy in Bangkok.
Your bank balance is tax-free, only the interest is taxed.
Also your pension is tax-free in Thailand (double taxation agreement between Great Britain and Thailand, 01-07-1999).
However, I would avoid letting transfer your pension directly to Thailand.
From my view it is better to fetch only the money by ATM that you really needs ... the rest should remain as a sure currency in the UK.
Hope I could help you a little bit with this information!
A lot of luck and successful relocation!
I'd pretty much agree with most of the above, it largely depends on your lifestyle.
Survivable income.
You can live on 25-30k per month with house rental, bills, food, the occasional beer and meal out (once or twice a week) and local transport.
Good income.
If you have a high maintanance girlfriend, like to party or want a big house in the center of town then the sky is the limit. It can be done on 50-60k but you'll still have to count the pennies from time to time.
Let us know a little more about your lifestyle/aspirations for living in HH and we can probably give you a better cost of living figure.
Survivable income.
You can live on 25-30k per month with house rental, bills, food, the occasional beer and meal out (once or twice a week) and local transport.
Good income.
If you have a high maintanance girlfriend, like to party or want a big house in the center of town then the sky is the limit. It can be done on 50-60k but you'll still have to count the pennies from time to time.
Let us know a little more about your lifestyle/aspirations for living in HH and we can probably give you a better cost of living figure.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Emergency Allowance!
If you're really up against it budget wise then 13000 - 16000 bath a month is possible to live on in Hua Hin, slightly more if you smoke cigarettes. You should only really be having a beer or two a night at the most at this level of budgeting otherwise the cost of living shoots up before you know it! This amount budgets only for thai food which though cheaper, the portions tend to smaller than foreign food.
Accommodation on this allowance is in the basic region, but if you look at the thais they can make even a hovel into a palace given the right luxuries!
If you play your cards right with the locals then you can survive on a lot less than the above amount of baht!
A Good Income is usually anything upwards of 35000 baht.
If you're really up against it budget wise then 13000 - 16000 bath a month is possible to live on in Hua Hin, slightly more if you smoke cigarettes. You should only really be having a beer or two a night at the most at this level of budgeting otherwise the cost of living shoots up before you know it! This amount budgets only for thai food which though cheaper, the portions tend to smaller than foreign food.
Accommodation on this allowance is in the basic region, but if you look at the thais they can make even a hovel into a palace given the right luxuries!
If you play your cards right with the locals then you can survive on a lot less than the above amount of baht!
A Good Income is usually anything upwards of 35000 baht.
Just a small poing regarding the financial conditions for retirement. I thought they are now 800,000 in a Thai bank account or a pension of 80,000 per month, or a combination of the two.
I'm pretty sure the figures went up from 650,000 and 65,000 around a year ago.
Any Thai Embassy or Consulate will be able to confirm this or otherwise.
Certainly one way of getting the retirement visa is to come on a Non O visa and apply for the year's extension here. However, it might be easier to authenticate your savings/pension if you so everything in the UK first. It'll save on trips to BKK to get the relevent documantation from The Embassy etc. I'm sure it can be done this way and if your pernsion is over 80,000 then you're home and dry. If not, you'll need to show some savings in a Thai bank account, so will probably have to wait until you're here. In this case, fall back on the first option of Non O visa first.
I'm pretty sure the figures went up from 650,000 and 65,000 around a year ago.
Any Thai Embassy or Consulate will be able to confirm this or otherwise.
Certainly one way of getting the retirement visa is to come on a Non O visa and apply for the year's extension here. However, it might be easier to authenticate your savings/pension if you so everything in the UK first. It'll save on trips to BKK to get the relevent documantation from The Embassy etc. I'm sure it can be done this way and if your pernsion is over 80,000 then you're home and dry. If not, you'll need to show some savings in a Thai bank account, so will probably have to wait until you're here. In this case, fall back on the first option of Non O visa first.
cost of living .
Many thanks you guys , answered all I wanted to know , No not into the high high life really at all , looking for peace ,sun and a safe and decent more than girls,gilrs. I hope to be heading your way in around August of this year , I have friends over there but its nice to know that I might just be able to afford to buy all you guys a drink . I"l post again when my arrangments are all confirmed and maybe some of you would be kind enough to show me the ropes over there over a beer or two. Thanks to you all . James
looking towards the sun
Early Retirement in Hua Hin
Interesting answers for a subject I am interested in as I want to retire as soon as possible.
If I don't open a business or get a part time job then judging by the cost of living if I have £200k in an offshore tax free account earning 4.5% I would net £9k a year or 50,000 Baht a month.
So is £200k a reasonable amount to be able to quit the rat race ? (in my case Saudi Arabia).
I am in my early 40's and will not get a company pension until I am 55 (neither will anyone under new legislation from 2010) which will net me another £7k at todays rates. Will I be able to survive until then ?
If I don't open a business or get a part time job then judging by the cost of living if I have £200k in an offshore tax free account earning 4.5% I would net £9k a year or 50,000 Baht a month.
So is £200k a reasonable amount to be able to quit the rat race ? (in my case Saudi Arabia).
I am in my early 40's and will not get a company pension until I am 55 (neither will anyone under new legislation from 2010) which will net me another £7k at todays rates. Will I be able to survive until then ?
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Bamboo Grove
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If you don't have to support anybody 50K should be enough for fairly decent life in Hua Hin. If you cut out the rent, you'll still have more than a 1000 baht per day to spend. You can eat (if you eat Thai food) for less than 100 baht/day (three times a day) as a simple meal will cost you only 20 baht or so and get decently drunk with less than 1000 baht even if you drink in the bars (provided you drink beer).
Back in Bamboo Grove
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Guess
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Have only just read this. One point of comment. Get your visa from Hull. Forget London, they are slow and pedantic and exist for looking after the interests of Thai residents in London. You can post everything to Hull with a postal order. The whole process including mail delivery times is only three working days.
http://www.thaiconsul-uk.com/
All necessary forms and instructions are here.
http://www.thaiconsul-uk.com/
All necessary forms and instructions are here.
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dr dave soul monsta
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Hull is the better option for thai long long stay tourist and none B and O visa aplications , i posted my last aplication there on a thusday evening special delivery it was back monday afternoon,
have to agree with Guess 100% on this one Liverpool are as bad as london ,never dealt with the birmingham office ,London asked so many questions and took over 2 weeks
have to agree with Guess 100% on this one Liverpool are as bad as london ,never dealt with the birmingham office ,London asked so many questions and took over 2 weeks
"I don't often agree with the RSPCA as i believe it is an animals duty to be on my plate at supper time"
Hull for Visas
I didn't realise Hull did visas - it's where I come from and lived until I came to work in Saudi, still got family and friends there although I sold my house there in December.
Up the Tigers !!
Up the Tigers !!
My husband and I are moving to HH mid-Sept and we sent our passports to Ottawa (we're Canadian) last week. We were told to apply for an O-A visa which is the retirement one good for a year. Three copies of the app, a personal sheet, 3 pictures, bank statement, letter of guarantee from the bank (notarized), medical certificate (notarized), and criminal record search (notarized) for each person. Then we also have to check in with I guess the local police?? in Hua Hin every 90 days.
I saw somewhere in the chat rooms that it was better to transfer your money in your homeland funds than to send Thai Baht as you get a better rate at the Thai end. Is this true?
I saw somewhere in the chat rooms that it was better to transfer your money in your homeland funds than to send Thai Baht as you get a better rate at the Thai end. Is this true?
Pennyante,
I think you'll have to check in with immigration every 90 days, either in Prachuapkirikhan or BKK (or any office. They're the closest). You're just confirming where you live and it can be done by post now as well.
There's also some sort of immigration office at HH police station. Never having been in myself, someone else may be better able to tell you if it's possible to report there now. That would bemore convenient.
I'm not sure about the money. I simply draw on mine from an ATM, leaving the dosh back in the UK. You will probably have to do things differently as you'll need to apply for another visa in a year's time and either have to show 800,000 in a Thai bank account or income of 65,000 per month. If you're basing the visa on income, then it might not be necessary to bring over any lump sum as long as you've got properly notarised papers from your Embassy as to your income. Check with Ottawa. They should know.
I think you'll have to check in with immigration every 90 days, either in Prachuapkirikhan or BKK (or any office. They're the closest). You're just confirming where you live and it can be done by post now as well.
There's also some sort of immigration office at HH police station. Never having been in myself, someone else may be better able to tell you if it's possible to report there now. That would bemore convenient.
I'm not sure about the money. I simply draw on mine from an ATM, leaving the dosh back in the UK. You will probably have to do things differently as you'll need to apply for another visa in a year's time and either have to show 800,000 in a Thai bank account or income of 65,000 per month. If you're basing the visa on income, then it might not be necessary to bring over any lump sum as long as you've got properly notarised papers from your Embassy as to your income. Check with Ottawa. They should know.