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UK expats prefer Thailand as retirement destination

Only 13 per cent of UK expats intend to retire in the UK, and 5 per cent of all surveyed plan to spend the retirement in Thailand, according to a recent study by Alliance & Leicester International.

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Only 13 per cent of UK expats intend to retire in the UK, and 5 per cent of all surveyed plan to spend the retirement in Thailand, according to a recent study by Alliance & Leicester International.

In the report obtained by The Nation, 400,000, UK expats are voting with their feet and choosing to retire abroad according to findings from Alliance & Leicester International (ALIL). France (18 per cent) is the most popular retirement destination for expats followed by Spain (13 per cent) and then the UK (12 per cent).

5% of UK expats names Thailand as retirement destination

5% of UK expats names Thailand as retirement destination

However, while 88 per cent of expats intend to retire abroad, access to UK based family and friends still appears to be important with 57 per cent intending to retire in Europe. Indeed, 10 per cent of expats cited being away from family and friends as a major barrier to retiring outside the UK.

Further afield, Thailand (5 per cent), the US (4 per cent) and New Zealand (3 per cent) are all potential retiree destinations. Expats intend to fund their new lives in the sun through a variety of methods including savings (27 per cent), UK State Pension (23 per cent) and private pensions (20 per cent). Property is a big source of retirement funding for expats with 6 per cent relying on rental income, 6 per cent intending to sell a residential investment and 2 per cent planning to take out an equity release plan.

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5% of UK expats names Thailand as retirement destination

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand

Regulations and bureaucratic procedures that firms have reported as severely affecting their businesses and investment decisions were mainly on delays in tax refunds, uncertainties around the time taken to clear customs or obtain permits and certifications, and uncertainties around regulatory policies.

The delays in tax refunds referred to both value-added tax refunds and import tax refunds for exporters. The Revenue Department and Customs Department have been introducing programs and employed internet-based services to reduce the time taken to do so. However, few firms have participated in these programs or have benefited from the services. On the other hand, the average number of days needed to clear import customs or obtain permits is not exceptionally high in Thailand compared to other countries.

Doing business in Thailand

Infrastructure plays a crucial role in economic development and enrichment of living standards. Various stages of economic development require different levels of infrastructure upgrades or enhancements to ensure infrastructure in fact facilitates economic activities. Thailand has been facing a series of infrastructure challenges, both new and well-established. To name a few: there is a need for infrastructure services to catch up with economic development and international competition, manage the growth in urban areas, respond to global energy prices, and ensure basic services for the poor.

6 Comments

6 Comments

  1. yuri

    October 22, 2013 at 6:33 pm

    What about Russians while retiring ? Seems no one search .

  2. Thailand Holiday Destination

    February 7, 2011 at 7:09 pm

    Yes you are right Thailand is known as its lavish destinations. Thailand is very beautiful country in Asia because There are many stunning beaches, elegant night life and resorts that make your trips memorable.

  3. Editor เอดิเตอร์

    August 30, 2010 at 9:38 am

    Nomenclature for types of visa and permissions to stay for Thailand.

    The basic entry/visa types of interest to most readers are listed below. For full information you may want to read the Ministry of Foreign Affairs Website

    Initially, we will attempt to explain the differences between visas and ‘permission to stay’ stamps. These are often confused.

    A visa is fundamentally a document (affixed into the passport) issued to a foreigner by the Thai government allowing said foreigner to travel to the Kingdom and normally be granted permission to stay for a prescribed period. Visas can only be obtained outside of the Kingdom from a Royal Thai Embassy/Consulate (usually). A visa has a validity period which denotes the period within which the visa may be used to apply for entry. The validity period is NOT the length of time you will be permitted to stay in the Kingdom using said visa. Exceptionally, when an applicant meets the requirements for an annual extension of stay, a change from tourist visa or visa-exempt status to a non-immigrant visa can be obtained from an immigration office preparatory to the extension of stay.

    A ‘permission to stay’ stamp is entered into your passport upon arrival into the Kingdom. Whatever visa you hold, you will always receive this stamp. It will include the date of entry and date when you MUST leave the Kingdom or make alternative arrangements. The ‘length of stay’ will be dependent on what type of visa one holds. Once inside the Kingdom, this stamp is sacrosanct, your visa is now effectively irrelevant until you re-enter the country.

    30 day entry stamp :
    for the majority of passport holders, this is a ‘permission to stay 30 days’ stamp only obtained (free of charge) at a port of entry into the Kingdom and is issued without the need for a visa. At the discretion of the immigration officer this may be extended for up to 7-15 days at an immigration office after which time the holder must leave the Kingdom. This is NOT a visa.

    3 month validity, single entry tourist visa: pre-obtained at a Royal Thai Embassy/Consulate and will result in the holder obtaining a 60 day ‘permission to stay’ stamp upon entry. If required, this type of visa may be extended by 30 days at an immigration office, but after that time the holder must leave the country. After one entry, the visa is “used”.

    6 month validity, 2 to 4 entry tourist visa: pre-obtained at a Royal Thai Embassy/Consulate and will result in the holder obtaining a 60 day ‘permission to stay’ stamp upon entry if from a 30 day visa exempt entry country (listed below) or 30 days if not. If required, this type of visa may normally be extended by 30 days at an immigration office, but after that time the holder must leave the country. The holder may then return to the Kingdom and will obtain a second 60 day ‘permission to stay’ stamp which can also be extended as previous and then the holder must leave. After the stipulated number of entries the visa is “used”.

    3 month validity, single entry non-immigrant visa: pre-obtained at a Royal Thai Embassy/Consulate and will result in the holder obtaining a 90 day ‘permission to stay’ stamp. This visa can be extended up to one year for specific reasons and with the required documentation (see 12 month extensions).

    12 month validity, multi entry non-immigrant visa: pre-obtained at a Royal Thai Embassy/Consulate (usually) in your home country and will result in the holder obtaining a 90 day ‘permission to stay’ stamp upon entry. Each time the holder enters the Kingdom whilst the visa is valid, he/she will obtain a further 90 day ‘permission to stay stamp’. Such visas can be issued for students/work/family etc. but normally require supporting documentation. This visa can also be extended up to one year for specific reasons and with the required documentation (see 12 month extensions).

  4. Alex

    August 30, 2010 at 12:24 am

    Good luck! Thailand has the most incredibly Kafkaesque immigration system for retirees. Ive been trying to get a straight answer from two Thai banks and the Royal Thai Embassy for weeks, and no one can explain to me how to get the 800,000 baht immigration requirement into a Thai bank account before I apply for the retirement visa from the embassy in my home country. The official retirement policy is that one can apply to the embassy in one’s home country BEFORE travelling to Thailand but a condition of obtaining a visa is having 800,000 baht on deposit in Thailand. However, two banks told me that they would not open an acocunt for me in Thailand except in person and with a work visa. When I challenged the second bank to explain to me how can I qualify to retire there in that case, their answer was “we cannot confirm nor deny” that a branch of our bank may or may not be willing to open a bank account for you in Thailand. In other words, spend $2,000 to get there and then spin the lottery wheel. Maybe we will open an account for you, and maybe we wont. Some retirement immigration visa system. Im still trying to get the local embassy to answer my queries, which they simply ignore.

    • suwanna

      May 13, 2011 at 10:06 pm

      have you tried Bangkok Bank in london? Bangkok Bank
      61 St. Mary Axe, London, London EC3A 8BY
      020 7929 4422

      hope this helps

      x

  5. Gianna Patterson

    July 28, 2010 at 4:34 pm

    as for my retirement, i plan to retire on an asian country and live a quiet and simple life.-;.

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