4 Southeast Asian countries with retirement visas for foreigners

[reader]

From  VN Express

Southeast Asia has recently emerged as an ideal hub for global retirees thanks to its tropical weather and cheap cost of living, but only four countries now offer visas specifically for global retirees.

Indonesia, Southeast Asia's largest economy, offers a visa for elderly and retired individuals with a period of one year, which can be renewed annually for up to five years. Those holding the retirement visa are not allowed to work in Indonesia.

To be eligible for the visa, foreigners aged 55 years and above, who can provide a guarantee letter from a tourism board as a guarantor, are required to show a proof of at least $1,500 a month in funds and health insurance.

They also need to submit a proof of accommodation in Indonesia and proof of having employed an Indonesian maid or domestic helper.

Since 2002, Malaysia has launched a retirement visa policy called "Malaysia My Second Home Program" in which applicants are divided into age-based categories of 25 to 49 years and 50 years and above.

The visa program allows foreigners to live in Malaysia for up to 10 years.

Those under the age of 50 must have liquid assets worth a minimum of RM500,000 ($118,500) and an offshore income of at least RM10,000 ($2,370) per month.

For those from 50 and above, they are required to have at least RM350,000 in liquid assets and an offshore income of at least RM10,000 per month.

Obtaining a retirement visa in Malaysia enables foreign retirees to purchase a house, set up their business and get a domestic helper.

Thailand recently introduced a special policy for retirees aged 50 years and over with a 10-year multiple entry renewable visa, fast-track service at Thai airports, tax exemption for overseas income and a work permit among other privileges.

To be eligible for the visa policy, foreign retirees are required to have an annual pension or stable income of at least $80,000 per year at the time of application.

The Philippines, home to more than 64,000 foreign retirees, has launched a Special Residence Retiree's Visa program, allowing wealthy foreigners to hold a multiple-entry visa and the right to reside in the Philippines indefinitely.

For those at least 50 years old and above, they need to have a deposit of $10,000 and a monthly pension of $800.

Deposits for applicants aged 35 to 49 years old was $50,000 while those aged from 50 and above who do not receive monthly pension need to have a deposit of $20,000.

 

[fedssocr]

what happens after 5 years in Indonesia? That seems kind of odd.

That Thai visa requiring $80k per year in income seems like it won't apply to very many people.

[PeterRS]

9 hours ago, fedssocr said:

That Thai visa requiring $80k per year in income seems like it won't apply to very many people.

I think it is madness! It used to be 800,000 baht in the account for 3 months prior to renewal. Thereafter it could be spent and I know that most lived on that cash without requiring another infusion from overseas for 9 months. Now that this amount is all but locked and unable to be spent, as @fedssocr suggests how many retirees are actually able to afford this every year till they pass away?

I had read over a year ago that the entire business of retiree finances was being investigated by some government committee. The only thing I have heard since is the adoption of the new 10 year visa. From all accounts that is so far not a success.