# Yet another, "Retiring in Thailand" post...



## Airblade550 (Oct 15, 2013)

Hello all...
Although I realise I can, and have found much written advice/criteria that has to be satisfied when considering a move to Thailand. I wonder if I could just invite some views/opinions on my own set of circumstances and very early plans...?

Entered into a Civil Partnership with my same sex, (male) Thai partner here in the uk in 2008. He has since been granted UK citizenship and has a full uk Passport and also a Thai Passport.

In May of this year, (for various reasons), he returned to Chiang Mai where together with his Sister and Mother own, (via a Mortgage), a nice little house.

I am 55 and becoming very unhappy with the way of life in the uk and following each time I return from hols in Thailand, (8-9 times over the past 6yrs), I wish I could stay there.... Well, I have realised that it is indeed an option and I have a plan, I invite opinions please...

I have a property here in the UK with a small Mortgage. My plan is to sell up totally, use the equity, (appx £120k), to move to Chiang May on a retirement visa, (not keen on working) and living with my Partner and family. I would purchase one or possibly two modest condos, (35k each), and rent them out using the proceeds plus my remaining equity from my uk sale to fund a modest lifestyle.

I realise that the above may well be, "the dream" scenario for many, and of course I imagine there could be pitfalls but if anyone could/would kindly share their opinions on this plan, I would be most appreciative


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## stednick (Oct 16, 2011)

Airblade550 said:


> Hello all...
> Although I realise I can, and have found much written advice/criteria that has to be satisfied when considering a move to Thailand. I wonder if I could just invite some views/opinions on my own set of circumstances and very early plans...?
> 
> Entered into a Civil Partnership with my same sex, (male) Thai partner here in the uk in 2008. He has since been granted UK citizenship and has a full uk Passport and also a Thai Passport.
> ...



Airblade550:

As you have been to Thailand several times and have done your homework (investigation) you should have a fairly good grip on the details of your plan. You have a Thailand base of support in your partner and his family. The only possible/potential problem I see is on the financial front, in that is the amount of capital "adequate"?, and, of course, the medical insurance question. 

So, quick and short comment ... go for it. You have a very good chance of success. Good luck.


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## freedomfighter (Oct 20, 2013)

*Living in Thailand*

I have been here several years. I would suggest you keep a partial savings account in the UK and then use one of the major banks in Thailand, like Bangkok Bank, to put transferred funds and also enough for your retirement visa. It is wise to buy a condo, because the paperwork trail is far easier to obtain than to go the route of buying a house. You could well rent the condo to help pay your bills while living here. I would suggest an ocean condo as high as possible with good views. They are the easiest to rent or later to sell. If you can live somewhat frugally, it sounds like a retirement in Thailand could work well for you. I would caution you to check out everything thoroughly before you do anything however. Best of luck and hope all works out well for you...


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## Newforestcat (Mar 14, 2012)

I am scared when someone talks about selling up and taking all the money to a new country. I am usually very brave but I have seen and heard of many expats going back home with difficulties. My Brit husband used to worry me when he mentioned selling up. 

To be honest, I think £120K is possibly not enough, if you think about how long you and your partner would live. How much is the rent from the Thai condos? How much UK pension will you get? What will you do if you are ill or if it does not work out? 

If I were you, if possible, I would clear the mortgage or downsize in the UK so I had no mortgage and use the rental income as a means to obtain a Thai visa. If I had spare cash afterwards, I would possibly buy a small condo in CM to rent out. I would enjoy life in Thailand until I was sure that I could deal with all emergencies and I never needed England again then I would sell up.

If your rental income is less than £787 this tax year (next year the figure will be higher), you won't pay any tax, if that is all your taxable income. But you need to file a tax return which is utterly easy. You can do it online. It takes 10-15 mins a year. If you make a profit on your properties in the UK, you should pay no Capital Gains on the profits. 

Inflation in Thailand is disgusting and nobody seems to do anything about it. I used to spend very little on buying food, now it has gone up quite a lot. Also getting your money back to the UK, if needed, is going to be a real pain. Living in a country is rather different than holidaying in it as well. 

Tax rates in Thailand are slightly low for low income but the tax-free personal allowance is only £3K while it is £9.44K in the UK. You might pay tax on your Thai rental income while you might pay none on your UK rental income. So think about it.

Good luck!


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## cnx_bruce (Feb 2, 2010)

Hi. I would also be cautious about selling your UK asset/s and taking everything to a country where you have only previously holidayed. It might be more prudent to rent out your UK property for the first six months (at least) and just live frugally on that income stream and discover the lay of the land.

Do you have any experience as a landlord? A new country is no place to do this for the first time - doubly so for those new arrivals who plan to open a business here. Click on my profile and check out my book - it would be most useful for someone in your position.


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