retirement visa Thailand

Bangkok Retirement Visa Services
For foreigners who are looking for the best retirement destination, Thailand is one of the top choices. The start of your retiring in this beautiful place is your application for Thai retirement visa. But application for retirement visa Thailand might really be a difficult task. This is made more daunting by the numerous documentary requirements and the more complex procedure. Good thing, there are plenty of retirement visa services at the heart of the city, Bangkok.
Bangkok retirement visa services (TILA LEGAL) are being offered by a group of lawyers who have experiences in this field for so many years. They will be the one to sort out all the legal issues of your Thai retirement visa application. They will explain to you the necessity and how to comply on every requirement. They will also help you in obtaining the documents that you may have some difficulty getting in the regular course. You will also be assisted in attaining the strict financial requirement of the authorities.
Since, most embassies are situated in Bangkok, this make it easier for the processing of the application for Thailand retirement visa. Once all the documents are prepared, they will be the one to submit it to the proper authorities. They will be with you from the first day of application to the last day where you will be finally signing your visa at the immigration. They would still be there should there be any legal problems that may arise from the issuance of your Thai retirement visa.

See our Thailand Retirement Visa Package by click here

Bangkok retirement visa services (TILA LEGAL) is being offered to ensure that you will only get the most accurate and timely service. When you visit our office in Bangkok offering these services, a representative will sit with you to discuss every aspect of the procedure. Bangkok retirement visa services firms are highly recommended to be visited first before even going to the immigration bureaus. These firms have the best-trained lawyers and their knowledge is one major asset for the foreign client.

Get Your Thailand Retirement Visa & Live Life To Its Fullest

For individuals who have worked hard all of their lives, a Thailand retirement visa must feel like a golden ticket. Thailand is one of the most scenically beautiful nations on Earth and is known worldwide for its low cost of living, high quality medical centers and myriad of attractions. Once you retire in Thailand, you’ll find that your retirement savings go a long way. For example, retirees with a pension of only $1,200 USD a month can enjoy a standard of living that would never be possible back home. For that moderate amount of money, you will be able to afford a fantastic apartment, high quality food and drink, taxis and leisure activities and you better believe that few locations in the world do leisure quite like Thailand.

Thailand Retirement Visa

A retirement visa in Thailand is possible for anyone aged 50 or older provided they meet a set list of criteria. This visa is valid for 12 months and when you hold it, you are free to come in and out of the country as you wish. Once you have a Thailand retirement visa, you must report to a department of immigration branch in Thailand every 90 days to complete what is known as the ‘90 day report’. This the Thai government’s way of checking up on newcomers to their country and to ensure that the individual is safe. In the event that you wish to renew your visa, you have until one week before expiration to do so.

Eligibility

Of course, not everyone is allowed to avail of a retirement visa in Thailand. It’s also necessary to have a bank balance of at least 800,000 Thai Baht at least 2 months before application. This money must be in your name in a Thai bank account and you will have to provide a bank statement to this effect. If you don’t have this sum of money in your account, you are still eligible provided you can prove that you have a monthly income of 65,000 Thai Baht.

The Process

As getting a Thailand retirement visa is a vital matter, you are advised to consult a Thai legal team and they will help you apply successfully. This legal team will then send the requisite documents and an invitation letter from their company to your home address. These documents should then be brought to a Thai embassy where you can apply for the Non-Immigrant Visa which lasts for 90 days. Expect this process to last approximately 2 business days.

You then come to Thailand with the visa, go to the immigration office on Thai soil and have the visa upgraded to a Thailand retirement visa. You should have a lawyer with you to complete the process. If everything is in order, you should immediately have your retirement visa. This is how you apply if you currently live overseas. With the right legal team in your corner, retiring in Thailand and enjoying the wonders of this country is easier than ever so start preparing for a life of leisure.

What Is The Role Of The Thailand BOI?

If you are investing overseas and have never heard of the board of investment (BOI) Thailand and the work it does, you could be making a very costly mistake. Did you know that Thailand is part of a larger economy that has one of the top 10 GDP’s in the world? The nation alone has 64 million people but as a member of the Association of Southeast Asian Nations, foreign companies that set up in Thailand have access to over 500 million potential customers. So how does the Thailand BOI fit into all of this? They are a government sponsored agency that analyze foreign businesses and reward those that meet certain criteria with lucrative incentives.

Saving a Fortune

The Thai government has shown itself to be one of the worlds most innovative. The creation of world class medical centers and cosmetic surgery clinics generates billions of dollars a year. However, they acknowledge that certain aspects of the economy are in need of growth. They have given the BOI Thailand the power to grant tax breaks, waive work permit requirements and much more to overseas companies that specialize in industries that are currently lacking in Thailand. If your company deals with light, electricity, ceramics, paper & plastics and software and machinery, you can expect to be rewarded with tax incentives.

How does a 5 year exemption on the import duty of raw and essential materials used in the manufacturing of export products sound? How much would you save if you could avoid paying corporate income tax for 8 years? It’s clear that the savings would be vast but gaining these incentives is not an easy process unless of course you use the services of a legal team with expertise in Thai law.

The Process

Although gaining favor with the board of investment Thailand seems like a tricky task, it really is easy for a team of lawyers because the whole system is already in place and is a well traveled path. It begins with an application form and other documents and continues with the overseas company presenting their business plan to the Thailand BOI. A certificate is received which outlines the responsibilities of the overseas company. Registration is then completed and a corporate bank account may be opened. Depending on your industry, you may find that gaining work permits for overseas employees is easy. The entire process usually takes approximately 2 months though a savvy legal team may be able to speed up the process.

Legal Help

You legal team should immediately be able to tell you if your project is eligible for BOI Thailand assistance. They should grant you a personal consultation and discuss the various steps they will take on your behalf. A competent legal team will submit the application forms and all necessary documents for you and constantly follow up on your application. Fortunately, there are a number of Thai legal teams who specialize in helping overseas companies gain incentives from the board of investment Thailand. Thinking of investing in Thailand? Don’t overlook the possibility of incentives which could be the difference between success and failure.

board of investment thailand

Introduction

In general, foreigners have the same rights as Thai nationals to own and operate businesses in Thailand, except where specific restrictions are imposed. These restrictions may be prescribed by Thai legislation, as a condition of a Board of Investment promotion certificate and/or by a Thai company’s articles of association. This newsletter is intended to give a general overview of such restrictions and discuss the Foreign Business Law recently passed by the National Assembly.

Click here to see Our Full Services for BOI Thailand Application by Thai Lawyers

Foreign Business Law

The most wide-ranging legislation restricting foreign participation in business activities in Thailand is National Executive Council Announcement No. 281, otherwise known as the “Alien Business Law“, which has been in force since 1972. It has been replaced by the new Foreign Business Law, which has been approved by both the Senate and the House of Representatives and will become effective 90 days after it receives Royal Assent and is published in the Government Gazette.

Like the Alien Business Law, the Foreign Business Law imposes restrictions on the participation of ‘foreigners’ in three categories of businesses. However, there has been a change in the categorisation of some businesses under the new law (see “Comparisons between the Alien Business Law and the Foreign Business Law”).

Restricted businesses

The Foreign Business Law prescribes that a wide range of service businesses and commercial and industrial activities may not be carried out by `foreigners’. These categories are set out in the Annexes to the new law as follows:

Annex One: There is a total prohibition (for “special reasons”) on foreigners engaging in the businesses listed in Annex One. Annex One covers a variety of businesses including newspaper publication, radio and television broadcasting, certain types of farming and trade in real property.

Annex Two: Foreigners are prohibited from engaging in certain businesses listed in Annex Two as businesses affecting national security or arts, culture, customs, local handicrafts or natural resources and the environment, except with a licence from the Minister of Commerce (the “Minister”) and approval from the Cabinet.

Even with such licence, a foreign company engaging in a business set out in Annex Two must be at least 40 per cent Thai owned and two-fifths of its directors must be Thai nationals. However, the 40 per cent capital restriction may be reduced to 25 per cent with the approval of the Minister and the Cabinet.

Annex Three: Foreigners are prohibited from engaging in certain businesses listed in Annex Three as they are businesses in which the Thai people are not yet prepared for competition with foreigners, except with a licence from the Director General of the Commercial Registration Department of the Ministry of Commerce (the “Director General”) and approval from the Foreign Business Committee (the “Committee”).

The three Annexes to the new law, listing the types of restricted businesses, are attached to this newsletter as Schedule 1.

Foreigners

For the purposes of the Foreign Business Law, a “foreigner” means:

1          a natural person who is not a Thai national;

2          a juristic person not registered in Thailand;

3          a juristic person registered in Thailand of which at least 50 per cent of the share capital (or at least 50 per cent of the capital invested in it) is held by the persons set out in 1 or 2 above and if a limited partnership or a registered ordinary partnership, whose managing partner or manager is not a Thai national; or

4          a juristic person registered in Thailand of which at least 50 per cent of the share capital (or at least 50 per cent of the capital invested in it) is held by any of the entities set out in 1, 2 or 3 above.

For the purposes of calculating the level of foreign ownership in a company, it is assumed that any bearer certificates are held by foreigners.

Licences

As noted above, a foreigner can only engage in an Annex Two business with a licence from the Minister and with Cabinet approval, or in an Annex Three business with a licence from the Director General and with Committee approval.

The Foreign Business Law sets out specific time periods in which the Director General and the Minister are required to respond to applications. A response to an application for a licence must be given within 60 days. A response to an application under Annex Two may be extended by a further 60 days if deemed necessary by the Cabinet. If approved, the licence is required to be issued within 15 days of such approval. If rejected, the Minister or Director General is required to write to the applicant (within 30 days and 15 days, respectively) giving a clear explanation of why the application has not been approved. Appeal to the Minister against a rejected application is only permitted in relation to an application under Annex Three.

Issuance of a licence is subject to the satisfaction of certain eligibility requirements and may be made subject to certain conditions. These include minimum capital investment, the maintenance of a certain debt to equity ratio, the number of foreign directors that must reside in Thailand and a minimum period for maintaining the initial capital investment in Thailand. Generally, the Foreign Business Law contemplates that licences will be granted for as long as the applicant operates the licensed business, but licences can be revoked in certain circumstances.

Exemptions

• Investment Promotion: Foreign-owned enterprises granted promotional privileges by theBoard of Investment (“BOI”) or the Industrial Estate Authority of Thailand engaging in businesses listed in Annexes Two or Three are not required to be licensed.

• Treaties: See “The Thai-U.S. Treaty of Amity and Economic Relations” below.

• Government Approval: The Government may as a “temporary measure” permit a foreigner to carry out any of the businesses listed in any of the Annexes. For example, such exemption may be granted to a company involved in a government-sponsored infrastructure project.

If a foreign owned business is exempted pursuant to any of the above provisions, it is required to obtain a certificate from the Director General.

retirement visa Thailand

If you desire to spend your retirement years in the blissful place of Thailand, you will be required to apply and be granted with a Thailand retirement visa. There are numerous documentary requirements that you need to comply with, but the authorities are much strict on financial aspect.

You have to own an Thai bank account with a savings or fix deposit of at least 80,000 Baht (must put 800,000 Baht in Thai Bank for 2 months before applying) or monthly income which may come from your pension only in the amount not less than 65,000 Baht. The account should be transferred in a Thai bank two months prior to your application and as a supporting documents you must secure from the embassy a letter for verification of your pension statement.

If you lack with the financial requirements CLICK HERE and see how can we help!

When you visit you Embassy in Bangkok, Thailand, there is a Pension statement form that will be provided to you. You just have to fill out the form with your pension income statement. Then you have to approach an officer for the signing of the form.

The officer will sign as well as notarize the legal affidavit that you filled in, signed and sworn to. They usually do not check or ask for any proof to support the stated pension income wherever it came from (depending on which Embassy). You, alone, is the one making the statement of you pension income and is to sworn by you. Thus, should you include any false statement on the affidavit that you will prepare, you will be prosecuted and made liable by the consular official.

Your embassy does not make any copies or record of this pension statement. So, whatever pension letter was issued the day you applied is the one to be presented to the immigration bureau. The embassy does not even set the period of validity of this letter as it depends on the set validity period of the immigration which is usually 1-3 years.

Why You Should Use a Lawyer in Thailand?

People can encounter different kinds of legal issues. Some individuals are able to handle things on their own, but there are also those who depend largely on legal services. Perhaps you are wondering why you should use a lawyer in Thailand. Not all situations require the help of lawyer Thailand. First and foremost, you need to determine first if you really need the help of professionals.

Obviously, when you are charged or arrested, or perhaps someone sued you, you definitely need a lawyer Thailand. This is where you can benefit from the expertise and advice of a professional. Here are some questions that you can use as a guide when determining if you need legal services:

·         What is at stake?

·         What is serious in terms of the law?

If your liberties or finances are at stake, you will need a lawyer Thailand. However, if you simply have to address typical parking summons or tickets, a lawyer is not necessary. If your financial interests and legal rights are at stake, you cannot afford to NOT have a lawyer. Certain situations should be taken seriously especially if you do not want to stay in jail and spend a hefty sum of money.

Make it a point to answer the questions above before you hire the services of a competent lawyer. Every legal issue calls for the expertise of a suitable lawyer Thailand. It is vital that you check the lawyer’s experience, the cost involved, and the actual legal process. A competent lawyer can help you in winning or in settling legal disputes. However, you should hire only the best in the industry.

When using a lawyer Thailand, you should determine the type of law that you are dealing with. Not all lawyers focus on different law types. The lawyer you choose should be an expert on the particular law that you are dealing with. Some of the areas that a lawyer may focus on include agricultural laws, civil laws, criminal laws, family laws, and many others.

Whether you are the accused or the defendant, you will need the services of a competent lawyer Thailand. With someone to represent you, you can stay out of jail, save money, or avoid sanctions. Only a lawyer can evaluate your situation, so it pays to consult with the experts. You should never take legal issues lightly. There are various kinds of situations where you can use the help of a lawyer. If you are not familiar with your legal rights, you have to talk with a lawyer Thailand right away.

Legal issues require quick action. You cannot postpone things for a couple of days or weeks; otherwise, you might get sued or perhaps you can lose a lot of money. If you want to be prepared, only a lawyer can help you. Never make it a habit to disregard your rights as an individual. You should learn to speak out and defend yourself with the help of a lawyer Thailand. Ignorance of the law is not an excuse, so try to get help immediately.