Expats leaving Thailand retirement visa 2019 expat resources

The new visa requirements in Thailand have many expats worried and rightly so.

*I am all for freedom of speech and want everyone's opinion heard. All sides are welcome, but please keep it civil and try to avoid extreme language. Most of us that are interested in this topic have at least some similar circumstances. Let's do our best to respect each others opinions. :)

But let's be clear. The issues are almost entirely financial and this has been building long before the new visa regulations came down the pipeline. Talk to any long term expat or visitor to Thailand and they will reminisce about the good old days. Back when everything was low cost and an expat was much closer to that often cited “living like a king” situation.

Fast forward 10-20 years and the Thai economy is growing at a substantial rate, bringing inflations right along with it. In July 2005 The Thai baht was at 42 to 1 against the US Dollar. Fast forward to July 2019 and it is at 31. That is a massive loss in spending power. Especially when we take into account that the average expat is living on somewhere around $1000 USD. Where that was plenty to live a comfortable life in the past, it is now starting to be more of a struggle. That is not to say that $1000 is not enough to live in Thailand (Thais do it on much less), but expats don’t typically move abroad just to struggle with money. We can do that at home! Thailand was a chance at a better life.

We were already seeing expats start to leave due to the high cost of living. Often they move to another South East Asian country with a lower cost of living. Still, not everyone is wanting to leave. Even some with lower income levels, some had decided to stay by simply eliminating a few expenses.

Unfortunately for many, this is no longer an option. The new visa regulations now require a minimum monthly income of 65,000 baht. That is $2135 usd at currant exchange rates. The fact is, most expat retirees do not meet this minimum. The average US retirement income is $1412. So the average American does not qualify for a retirement visa in Thailand based on their income.

The Thai government is well aware of this and has another option. A Thai bank account with 800,000 baht in it ($26,280 usd). That is not an impossible sum, but for many that went through a divorce, or had other financial hardships, that wouldn't be an option.

Lastly, you can have a combination of your monthly income times 12 plus your bank account equal 800,000 baht. The average American has nearly $17,000 annual retirement income. Leaving the need for $9000 in the bank. But earlier, we saw that the average expat only has a $1000 per month income. And if you are already retired in Thailand on that income with no savings, coming up with $14,000 to put in the bank will be no small challenge.

Of course there are additional hurdles to maintaining a Thai Visa, but those are more of a hassle than a brick wall. The new income rules will push out expats that had every intention of living out the rest of their days in Thailand.

Who’s to say what additional changes will come. It might be possible that the necessary income levels will be lowered. The baht may soften and make exchange rates more favorable for expats. We just don’t know. One thing is for sure, the current situation will result in a high percentage of expats looking for a new place to call home. Tens of thousands of expats to leave thailand and moving to Vietnam expat resources.

Видео Expats leaving Thailand retirement visa 2019 expat resources канала Thailand Facts