How to Retire in Thailand: Cost of Living, Visas and More

Thailand receives a lot of attention as a retirement destination – and for good reason. The cost of living is low, which means you can stretch your retirement savings further. The country has a rich culture with delicious cuisine and friendly people. The weather is sunny and hot, and there are plenty of beaches to kick back on. For more active retirees, you can visit beautiful temples or explore the country’s natural landscapes. If you’re interested, it may be worth consulting with a financial advisor before actually making your move.

How Much Does It Cost to Retire in Thailand?

Many people consider retiring in Thailand, because it costs relatively little to live comfortably there. Estimates for the cost of living in Thailand generally say it’s between 35% and 75% cheaper than living in the U.S. According to March 2025 data from Numbeo, a site that collects cost of living data from around the world, the average cost of living in Thailand is roughly 47% lower than the average cost of living in the U.S. Rents are around 70% lower on average.

So how do these costs translate to your monthly budget? You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This will allow you to live comfortably without breaking the bank. You could potentially live a lot cheaper, as low as $1,300 a month, but you would probably have a difficult time. If you can afford to live off a budget of $5,000 per month, you can expect a rather luxurious life.

Housing and Food

A one-bedroom apartment in the center of the Thai capital Bangkok will run you about $645 per month for rent. When you factor in utilities, that cost reaches more than $735. Other monthly costs are likely to add up to between $600 and $700, at least. Living outside of the city center could cut your rent to roughly $320 per month.

For a comparison, a one-bedroom apartment in the city center of New York costs over $3,800 per month in rent, which is almost six times more than Bangkok. In fact, Numbeo estimates that a monthly budget of $3,500 in Bangkok would provide the same standard of living as a $12,000 budget in New York (assuming you’re a renter).

However, if you compare a popular U.S. city for retirees like Sarasota, Florida, prices are still lower in Bangkok. For example, groceries and restaurants are 46% and 66% lower in Bangkok compared to Sarasota. And a one-bedroom apartment in the city center of Sarasota costs roughly $2,320 in rent per month, over 3.5 times more than Bangkok.

Getting a Retirement Visa for Thailand

First of all, it’s worth noting that citizens of the U.S. and much of Europe do not need a visa in order to visit Thailand. All you need is a valid passport and a return trip scheduled before you enter the country.

However, retirees planning to live in Thailand typically apply for one of two long-term visa options: the Non-Immigrant O-A Visa or the Non-Immigrant O-X Visa. Each has specific eligibility requirements and financial criteria that must be met.

Non-Immigrant O-A Visa

The Non-Immigrant O-A Visa is designed for retirees aged 50 and older and is valid for one year, with the option for annual renewals. This visa allows retirees to live in Thailand without working, provided they meet financial and health insurance requirements. To qualify, applicants must satisfy one of the following financial requirements:

Have at least 800,000 baht (approximately $23,800) in a Thai bank account
Have a monthly pension of at least 65,000 baht (approximately $1,930)
Have a Thai bank account and a monthly pension of at least 80,000 baht (approximately $2,400)

O-A applicants must also have a health insurance policy covering at least 3 million baht (around $89,200).

This visa must be applied for through a Thai embassy or consulate before arrival. Holders are required to report their address every 90 days at a local immigration office.

Non-Immigrant O-X Visa

For those seeking a longer-term option, the Non-Immigrant O-X Visa grants retirees from specific countries, including the United States, United Kingdom and Australia, a 10-year stay, issued in two consecutive five-year increments. The financial requirements for this visa are more stringent. Applicants must have one of the following:

At least 3 million baht (nearly $89,200) in a Thai bank account
A combination of 1.8 million baht (nearly $53,500) in a Thai bank and an annual income of at least 1.2 million baht (around $35,700)

Applicants for the O-X visa must apply at a Thai embassy or consulate and provide updated proof of financial standing and comprehensive health coverage annually. Additionally, visa holders must not engage in employment and must report their address every 90 days, similar to O-A visa holders.

Healthcare in Thailand

Healthcare is important to factor into your budget. There is no public health insurance for expatriates in Thailand. You will need to get private insurance. The average cost of healthcare is generally lower than in the U.S., but costs can add up if you need regular medications or medical attention. For some people, the best insurance option is to have traveler’s insurance from your home country. This may be a suitable option if you travel frequently or plan to visit your home country often.

Taxes in Thailand

Once you have lived in Thailand for six months, you will be subject to income taxes. This includes all domestic and international income. Even without a work visa, you are still required to pay taxes.

Your best bet is to work with a tax accountant to file your taxes. Even if you can file the taxes on your own, everything is in Thai. Thailand also has agreements with a number of other countries to ensure that you don’t pay taxes twice on your income.

Reasons You May Not Want to Retire in Thailand

Individuals moving to Thailand from the U.S. may suffer a bit of culture shock. The Thai language can be particularly challenging for Westerners to learn. Thai culture is also quite different from U.S. culture. The people are generally friendly and understand that it’s a new culture for retirees, but it’s easy to make a faux pas.

While the weather is pleasant during certain months, it can become extremely hot for extended periods. During the hot season, temperatures can stay above 100 degrees Fahrenheit for weeks at a time. And keep in mind that because Thailand is in a tropical area, the wildlife is very diverse. There are many types of insects, including mosquitoes, many types of ants and cockroaches (that can fly). There are also snakes, monitor lizards and mongooses. If you aren’t comfortable being around these types of critters, make sure you research Thailand a bit before moving.

Keep in mind that there are also other affordable, international destinations where you can spend your retirement. For example, you can retire in Argentina on a similar budget.

Bottom Line

There are lots of reasons why you may want to retire in Thailand. The cost of living and healthcare are both relatively low. There is a lot to see and do in the country. You will need to get a retirement visa, which is simple but still requires regular check-ins with immigration. You will also need separate visas or permits if you want to work, volunteer or travel out of the country at any point. Anyone considering a move should also make sure to research the Thai culture. Thai culture differs significantly from U.S. culture. Those unfamiliar with it may suffer some culture shock.

Tips to Make Your Retirement Savings Last

Before you decide where you’d like to spend your retirement, you need to make sure your financial plan can provide the income you’ll need. A financial advisor can build or fine-tune a financial plan, invest your assets and account for taxes. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Thailand is an affordable travel destination, and a budget of $1,500 each month is enough for many people to live comfortably. As it happens, this isn’t much more than the average Social Security benefit. To see how far your benefit could take you, try this Social Security benefit calculator.