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A Bird's Eye View of Retirement in Thailand

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A Bird's Eye View of Retirement in Thailand

Contributed by Trevor Ranges

Some important legal and practical factors to take into consideration when deciding whether to make Thailand home.

In addition to major medical surgeries and treatments, Thailand is also a common destination for individuals looking for reasonably priced cosmetic surgeries.  Corrective eyesight surgery (LASIK), facial reconstruction and rejuvenation procedures (rhinoplasty, botox) and cosmetic dentistry (laser teeth whitening) are additional services Thai hospitals perform at reasonable prices and reputable quality. 
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Unfortunately, Medicare and Medicaid plans from the United States do not pay for medical services administered abroad, and other private insurers or retirement plans may not cover medical treatment or medications provided in Thailand.  It is recommended that you check with your insurance or retirement related medical plan for restrictions on receiving treatment while living abroad. 

However, in an effort that recognized the increasing popularity of overseas medical procedures and expatriate residency, The U.S. Congress authorized an HMO for retired ilitary personnel called Tricare, which processes claims for veterans living overseas.

Finally, while medical services at certain hospitals rival western standards, it is not unheard of for problems to arise.  Malpractice cases stemming from improper medical care can be a problem in Thailand, just as they can be in developed nations, and retirees should retain professional legal assistance immediately following any medical problems stemming from treatment at a Thai hospital.  The downside to seeking treatment in Thailand is the lack of medical malpractice insurance.  Thai courts can be slow and damages awarded smaller than in Western countries.

Last will and testament:

Foreigners living in Thailand are subject to Thai laws while residing in the Kingdom.  In order to ensure that their wishes for the distribution of their assets in Thailand and abroad are carried out, it is helpful to have last will and testaments drawn up in Thailand.    Wills in Thailand must be drafted in accordance with Thai law, and in order to be administered must be filed in the Thai courts as part of the probate process.  As all paperwork required to be filed with the Thai government or Thai courts must be written in the Thai language, it is practical to hire a Thai law firm with both native English and Thai speaking staff to ensure the accuracy of your last will and testament.

Government stability and personal safety:

There have been 17 coup d’etats in Thailand over the last 30 years, the most recent occurring in November, 2006, when the Thai military overthrew the government of then Prime Minister Thaksin Shinawattra.  The recent coup was a bloodless event and elections held in December 2007 returned democratic rule to the Kingdom.  Despite such political turmoil, civil and property rights guaranteed in Thailand's constitution and legal codes continue to be respected.  Furthermore, Thailand has a very low incidence of personal or property crime, making it far safer than many western nations.

The future political scene is less certain as the world's longest reigning monarch enters his 9th decade of life.  Politically the country is currently polarized between supporters of Thaksin and his nominees and those that oppose Thaksin.  Nevertheless, most of the political issues would not affect expatriate and tourists.

There have been however at least 2 legal developments in the past year that have caused concern for foreigners.  These legal developments include a 30% reserve requirement on the purchase of Thai baht (with certain exceptions) and proposed amendments to an Act regulating the business activities of foreigners in the Kingdom. The fate of the Reserve Requirement and the Foreign Business Act most will most likely depend on the policies of the new government scheduled to be elected at the end of December 2007. 

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