Thailand offers a multiplicity of long-term visas for women and men well past the first bloom of youth. They include annual extensions of stay, the 5-20 years Elite visa and the 10 years Long Term Residence (LTR), each of which has its own scale of charges with assorted pluses and minuses. None of them allows direct ownership of land by foreigners, nor guarantees a path to permanent residency or citizenship. Purchase of condominiums is allowed but does not generally result in visa concessions. Since January 2024, anyone spending six months or more in the kingdom may be liable to personal income tax on remitted income.
Malaysia has had a 5-20 years My Second Home program since 2002 but there have been a succession of changes, including the requirement to purchase and retain a property and associated land (100 percent in their name) in order to spur growth in the local market. Perks include obtaining visas for spouses, parents and children under 34 years. Unlike Thailand, Malaysia imposes the requirement to live in the country for at least three months per year, although a dependant relative can substitute where the visa holder is still of working age. Malaysia is not currently insisting on foreign tax residents paying tax on remitted income from abroad.
Cambodia seems to have abandoned an earlier second home campaign, but the Retirement ER visa gives one year which is annually renewable. Retirees aged at least 55 years do not need to provide written proof of status or finances. Property ownership laws are strict and similar to Thailand’s. In theory, Cambodia requires foreign residents to file and pay taxes on their foreign income, but there are few signs of enforcement for this kind of visa. Cambodia allows foreigners to purchase citizenship provided they invest or donate US$300,000, an offer taken up with alacrity by rich Chinese in particular.
The Philippines offers a Special Resident Retirement Visa (SRRV) which offers a renewable two-year permanent residence ID card. Those over 35 years must deposit US$50,000 in a Philippine bank (less for pensioners), which can later be used to help buy a condominium unit, and show proof of a monthly income. Remitted cash from sources outside the Philippines is not subject to tax. Foreigners can lease land for 50 years with extensions for 25 years more. The Philippines are unique in the region for granting a notional permanent residency from day one of the SRRV.
It follows that the issues for longstay retirees in the region vary country by country. None offers the kind of dual citizenship or second passport which are common in permanent residence visas throughout the Caribbean for instance. Malaysia and the Philippines offer favorable tax conditions for foreign retirees, although Thailand offers a range of tax privileges in the Long Term Residence detail. Property ownership remains problematical across the region, although the purchase of condominiums or long-term leases is common. Use of local nominees to buy property or to conduct business is extremely risky throughout south east Asia. Cambodia probably offers the easiest bureaucratic route to longstay retirees, but the country lacks the kind of infrastructure westerners are used to. There are no sure answers, just individual preferences and priorities.
