On land, foreigners can’t own land. Way around it is put house and land in a company with Thai partner and then the company owns the house and land and you are in control when set up correctly. Condos you can own yourself as long as the condo is in the 49% foreign quota. You don’t need a company for that.
Suggest you don’t mix up OA and O for retirement. It’s actually an extension of stay based on retirement. That needs 800K in the bank here seasoned or help from an agent. It doesn’t require insurance. OA doesn’t need 800K in a Thai bank and it does need insurance from an approved provider. That is actually a visa. One warning is for those who come here on an OA and eventually switch to an extension they still are stuck with the insurance requirement.
14:14 foreign earned income has nothing to do with your tax liability in Thailand. Income remittances to Thailand may be subject to tax based on its source and you tax residency.
@@nyreeball1511 Thailand wants to be certain that foreigners living in the Kingdom are financially secure, and can contribute to Thailand's economy without being a burden to the Thais. Thailand's requirements essentially amount to keeping 1 year's income in reserve as a "security deposit". You have 2 options- Deposit 800,000thb/US$24,000 in a Thai bank account OR show proof of 65,000bht/US$2000-ish monthly income. The $24,000 is what Thailand considers to be one year's living expenses for a foreigner, and the whole 24k has to remain in the bank to renew your visa. You can earn and take interest from the money, but not touch the principal. The money remains yours, and you can withdraw it any time if you don't plan on renewing the visa. If i'm off on any of this, I welcome corrections :)
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1:37 insurance needs to be an approved provider. Your affiliate is not an approved provider for a non OA visa.
Thank you for sharing valuable information
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On land, foreigners can’t own land. Way around it is put house and land in a company with Thai partner and then the company owns the house and land and you are in control when set up correctly.
Condos you can own yourself as long as the condo is in the 49% foreign quota. You don’t need a company for that.
Thanks for sharing!
20:21 a business visa is not sufficient to work. You must have a work permit to work.
Suggest you don’t mix up OA and O for retirement. It’s actually an extension of stay based on retirement. That needs 800K in the bank here seasoned or help from an agent. It doesn’t require insurance.
OA doesn’t need 800K in a Thai bank and it does need insurance from an approved provider. That is actually a visa.
One warning is for those who come here on an OA and eventually switch to an extension they still are stuck with the insurance requirement.
Great information, I appreciate you sharing this.
New sub here! You are living my dream. I am also 38, but still in China.
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That's awesome
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Hi, can you give me a visa agent in lamai that is good for a retirement visa O and opening a bank account..
Thanks
Gilbert
Sure! Please send me an email at mike@beremoteconsulting.com
Do you retain us citizenship?
Yes of course
14:14 foreign earned income has nothing to do with your tax liability in Thailand. Income remittances to Thailand may be subject to tax based on its source and you tax residency.
First comment🎉
Thanks for being the first to comment!
Do you get that 800,000 bhat back?
You need to leave it in the bank.
@ for how long ? And why?
@@nyreeball1511 Thailand wants to be certain that foreigners living in the Kingdom are financially secure, and can contribute to Thailand's economy without being a burden to the Thais. Thailand's requirements essentially amount to keeping 1 year's income in reserve as a "security deposit". You have 2 options- Deposit 800,000thb/US$24,000 in a Thai bank account OR show proof of 65,000bht/US$2000-ish monthly income. The $24,000 is what Thailand considers to be one year's living expenses for a foreigner, and the whole 24k has to remain in the bank to renew your visa. You can earn and take interest from the money, but not touch the principal. The money remains yours, and you can withdraw it any time if you don't plan on renewing the visa. If i'm off on any of this, I welcome corrections :)
👍
Thanks 😊