Thailand is definitely one of the topmost destinations for many retirees from different parts of the globe. The affordable cost of living, access to good healthcare, beaches, delicious food, etc. are the major factors that make retirees continue flocking to the country. As reported by the 2022 Annual Global Retirement Index, Thailand is the 11th best nation for people to retire in the world.
However, for some reasons, you may want to avoid Thailand for retirement. The reasons include the weak rule of law, difficulty with getting visas, unstable political scene, expensive health insurance, language barrier, and safety concerns. These reasons may make it difficult for lots of retirees to enjoy staying in Thailand.
While these issues may want to hold you back from retiring in Thailand, some of them are not as bad as they seem. So, let’s explain everything you need to know about the reasons for avoiding Thailand for retirement.
Difficulty with getting visas
Even before coming to Thailand to retire, you may need to deal with a particular obstacle which is getting a visa. According to Thethaiger.com, the visa for retirees in the country is known as the Non-Immigrant O visa. To get the visa, you must:
- Have proof of retirement
- Be 50 years of age or older
- Have proof of supporting yourself financially
- Earn at least 65,000 THB (almost 2,000 USD) per month
- Or keep a minimum of 800,000 THB (about 24,300 USD) in a Thai bank account. You need to keep the amount in the account for at least two months before your visa application. Then, you have to keep a minimum of 400,000 THB in the same account for a minimum of three months after the visa approval.
Due to the stringent rule applied, it is almost impossible for people to borrow money to show proof of their financial capability to retire in Thailand. Therefore, it is either you have the money or you don’t retire in the Land of Smiles. In addition to the requirements above, there is a need for cumbersome and time-consuming paperwork. Without proper paperwork, you will likely not get the visa.
All these factors can make it difficult for many people to successfully apply for and get visas as retirees.
Weak rule of law
It is noteworthy that most retirees are old and vulnerable. Hence, they are easy targets for criminals that may be looking for an easy and quick way to make money. Unfortunately, the rule of law in Thailand is weak. Police officers and other law enforcement agents are not interested in upholding orderliness in the country. They are rather looking for people, including foreigners, to collect bribes from.
Therefore, as a retiree, it can be quite difficult for you to cope with living in Thailand because of the country’s corruption and weak rule of law.
Real estate challenges
Of course, when retiring in a foreign country, many retirees often plan to buy a house outright. This is to ensure that they don’t have to worry about house rent, which is usually one of the biggest expenses of lots of individuals. Unluckily, buying properties in Thailand can be quite difficult for any foreigner.
As noted by Retire2thailand.com and other sources, foreigners are not allowed to own land in Thailand. Although they can buy a condo, they cannot purchase or build an apartment as it will require them to buy or own land. The only option you may want to explore is to buy the land or property in the name of your Thai wife, girlfriend, or friend. However, many retirees have regretted such actions in the past. Therefore, you are advised to avoid it like a plague.
So, if you are thinking about buying or building a house in your retirement house, Thailand may not be a good option for you.
Language barrier
The Thai language is the official and most widely spoken language in Thailand. As a foreign retiree, you likely don’t understand this language. Unfortunately, the majority of Thais don’t speak English. In fact, Thailand has one of the worst English language proficiency levels in the world.
What does this mean? You may struggle to communicate with the locals when you are in Thailand. This is especially true if you are not staying in the upscale neighborhoods of Bangkok, Phuket, and other topmost cities in the country. Therefore, if you think that you cannot cope with the language barrier, Thailand is not for you.
Safety concerns
Factually, Thailand is a relatively safe country, but this doesn’t mean that you cannot encounter some criminals. As a foreigner (otherwise called farangs by Thais), you are likely going to be a major target of some criminals. This is because they may assume that you have lots of money; hence, they will not hesitate to look for ways to get some money from you. In doing this, you may be exposed to a wide range of safety challenges.
Therefore, safety can be an issue for retirees in Thailand. You should think carefully about it before retiring in this Southeast Asian country.
Exorbitant health insurance
As acknowledged by Thethaiger.com, Thailand has one of the best and most affordable healthcare packages in the world. However, the packages are only free and designed for Thais as well as foreign employees of Thai companies. As a retiree in Thailand, you don’t fall into the category of people that can enjoy the affordable healthcare system in the country.
This means that you need to pay lots of money to be good health insurance that will cover you while staying in Thailand. If you are above 70, the majority of international health insurance schemes may not allow you to use their systems. In addition, you may not even enjoy the public health system as it is often congested. Given this, you may need to settle for a private hospital. Unfortunately, most private hospitals in Thailand are expensive.
Therefore, healthcare may be a big challenge for you if you intend to retire in Thailand.
Conclusion
Thailand is a wonderful country for people that want to retire in an affordable destination. But if you think you cannot cope with the challenges mentioned above, you need to avoid retiring in Thailand
