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Should we keep our UK bank account open and transfer money to Thailand for retirement and investment?

Retirement Visa Investment Property Buying in Thailand Bank Account Management UK Expat Finance Visa Requirements Real Estate Thailand Property Laws

Feb 14, 2025

9 days ago

Ka *****

ORIGINAL POSTER

Hi we would like to arrive on retirement visas. We have to have deposit 800,000thb x2. Also we have money to buy a property for us and some money to invest in properties for rent. Should we send all money in one go to Thailand or keep it on online account in virtual bank? We would like to close UK bank account. Thank in advance

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TLDR : Answer Summary

A user inquires about the best strategy for transferring funds for retirement in Thailand, considering they have to deposit 800,000 THB for two retirement visas and are also looking to invest in property. Community members advise against closing their UK bank account, suggesting that they should retain some funds in the UK due to better investment returns and exchange rate concerns. It’s recommended to avoid transferring all money at once and to consider the risks of investing in Thai real estate.

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John ********

Please don't put your money into properties in Thailand as you will never get back your money from them invest in your home country

8 days ago

Daniel **********

Invest uk better returns open thai bank account and keep what you need fantastic value if you rent property in Thailand i would for first year at least give you plenty of time to find area you like and what you like . Lots of building going on in Thailand now and may being over done lots of empty properties and value not likely to go up may be come down For good advice I contact Neil Walter’s has huge experience in all aspects of investing insurance etc here in Thailand if u want his contact details pm me

9 days ago

Maria *********

I personally think you should invest in UK, with your higher rental income there you can enjoy a good life here.

Also you will not earn any interest in Thai bank account so no point transferring all the funds here.

9 days ago

Ka *****

ORIGINAL POSTER

@Maria ********

the problem could be the UK tenant who doesn't want ro pay rent.

8 days ago

Maria *********

@Ka ****

estate agents will look after this for a small fee, saves the hassle

8 days ago

Ka *****

ORIGINAL POSTER

@Maria ********

yes I know, but agency can not remove tenant. It take one year or two to remove not paying rent tenant. It must be court order.

8 days ago

Did *****

@Ka ****

what if that happened in Thailand ?

8 days ago

Ka *****

ORIGINAL POSTER

@Did ****

it will be more AirBnB and 2-3 properties in Thailand. In the UK would be just our house we would like to sale.

8 days ago

Reply to

Ka *****

Phil ******

Keep open your UK bank account

@Ka ****

9 days ago

Charlie ***********

First off all you can't buy a house or land only condominium second the rate a the moment isn't good so you should wait a bit maybe it goes a bit high and last thing keep you bank account in your country

9 days ago

Phil ******

@Charlie **********

you can buy the house. Just not land

9 days ago

Charlie ***********

@Phil *****

so if you buy the house the land that it is built on who land would it be. So in who name it would be please because I need to know more about this

9 days ago

Phil ******

@Charlie **********

the house can be in your name. Land in partners name

But sticky situation will develop if you break up. Here's some info

***************************************************************************************************

8 days ago

Charlie ***********

@Phil *****

🙏

8 days ago

Reply to

Charlie ***********

@Phil *****

you want buy the house you can lease it for 30 years I think

9 days ago

Reply to

Charlie ***********

Tony **********

Think long and hard about trying to invest in Thailand. Your money will make more in a simple certificate of deposit than you will here. Rental income can be very seasonal and liquidity is very low.

9 days ago

Bill ********

I'm in TH now. You could send it to me and I'll hold it for you until you get here. safest option for you......

9 days ago

Paul ********

Keep UK bank account open, don't bring all your money over in one go, consider keeping at least some investments in the UK, buying properties for rent in a market you are unfamiliar could be an expensive mistake.

9 days ago

Lucas **********

Big money, alwaays Talk to agent ..

9 days ago

Jon **********

Never close

Your home country bank accounts you always need a plan B. Also the exchange rate has dropped 10% recently.

9 days ago

Reply to

Jon **********

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