Here’s an example of a most recent handyman bill and the story behind it:

The mounting of my sliding carport gate came adrift and needed three welds and my guest bedroom sink was leaking water because its drain and stopper had never been correctly installed and needed replacing.

Our Concierge tech team, two guys, showed up unannounced (everyone in Thailand shows up unannounced) welded the gate and took the sink away. They returned it with a handsome new chrome drain and stopper correctly installed and hooked it up to the plumbing and the problems were solved. Then they handed me the bill, which I read as 7,365 baht (US$225) fair, thought, for such repairs, especially since it included better quality plumbing hardware than the original. I handed the guys 8,000 baht and was about to tell them to keep the change when they burst out laughing and pointed to the numeral I had read was ‘7’. It’s the locals’ way of writing ‘1’.

Typical Expat Monthly Budgets. Our most recent survey shows that twenty-three percent of expats in Thailand have monthly budgets of 25K-45K baht a month. Forty-eight percent have budgets over 65k baht and ten percent with over 145K baht to spend.

When I wanted to create a Budget for Living in Thailand in 2018 I turned to an expert on Thai budgeting, Nancy Lindley. With years of bookkeeping experience, she makes personal budgets and also keeps to them. Better still, she keeps careful note of unexpected expenses and keeps her finger on the pulse of Thailand’s cost of living. Happily, a cost of living budget in Thailand is pretty easy to figure out. It’s been predictable since the Asian Financial Crisis (you’ve probably forgotten; Thais haven’t).

Significantly, Nancy has a second calling: she cares for expatriates who fall on hard times. She visits them in hospital, contacts their relatives, talks to the consulate and spends countless hours repatriating very sick people who cannot afford long-term or major medical care in Thailand and must go home for treatment. She has seen a side of expatriate life that few of us even think about, so my Thai budgeting conversations with her are always sobering.

I asked Nancy to draw up two budgets for living in Thailand , one for the average Thai and one for five times the average Thai’s cost of living budget, and to comment on each. I’ve added my own comments after hers. Both budgets are for living in Chiang Mai (learn more). For Bangkok add 15%; for the countryside subtract 15%. These figures are current as of 2014. E-mail me, godfree@trh.superfasttests.com if you have questions. I lived on this budget for 12 months:

Budget for Average Thai Salary of $500/mo

Nancy’s Comments on the $600 Budget for living in Thailand: “I’ve seen single people lead nice, pleasant lives on this budget. Here’s how they do it”:

• They have a fan (no a/c) room on the lower, east side (cooler) floor in the old city,
• They walk or bicycle just about everywhere,
• They use the AUA library for books,
• They breakfast at the Pub where they watch American, Australian and British sports.
• They take Thai lessons at a wat (temple), etc.
• There’s no room for a steady girlfriend or regular beer-drinking habit.
• You must have savings/insurance for medical costs which are not reflected in this budget.
• I’ve known several guys who have a pension of 30,000 – 40,000 baht/month who live on a 15,000 baht budget and save the rest for medical emergencies and to build a bank account to justify a retirement visa. This takes discipline, which disappears if they acquire a Thai girlfriend who learns about the existence of a savings account!”

Cost of Living in Thailand Examples:

Medical: Two farang friends have just delivered babies – girls – in Chiang Mai hospitals. Each had a private room, one for four days. Their total was pre-agreed: 60,000 Bt (US$1700) each. Both were delighted by the care they received which, in one case, included an autographed photo of the entire delivery team gathered around the bed of the exhausted mother holding her baby for the first time. Another friend got bad food poisoning and went to the hospital. She needed intensive care but every bed in the hospital was full, so the doctor, not wanting to put her back in an ambulance, had his desk removed from his office and a bed installed for her. The bill next day was 1400 Bt (US$40). When she protested that this was too low, staff told her it was because she did  not have a ‘proper room’. A nurse called her at home that night to check her progress.
Automotive: I’ve been doing a lot of fast driving through mountainous roads lately and can assure you that even remote roads are well maintained in the Kingdom. But taking thousands of curves stresses wheel bearings, apparently, because one of mine went out. I discovered this when I went to have the Toyota’s front alignment checked after I hit a pothole (in the middle of town!) and the steering went weird. The shop fixed the affected wheel and moved it to the rear, then balanced and aligned the front wheels. They refused payment because I’d bought the Michelins (3000 Bt each) from them and the work was covered by their lifetime warranty – a pleasant  surprise. There was no denying the wheel bearing problem (the grinding noise was obvious once they pointe it out) so the next day they came and picked up the car. It was back a few hours later along with a bill for 2,000 Bt. and the old bearing in the factory box that held the new bearing. Don’t worry too much about the cost of owning a car in Chiang Mai: it’s far less than you’re accustomed to at home.

Rick, Who Lives on $600 Budget in Thailand

Budget for Living in Thailand on Five Times the Average Thai Salary

 Nancy’s Comments on the $2,400 Budget for Thailand

There is much more room to play with this budget. In it I assume:

• The couple is renting a condo in town.
• Housing is cheaper further out but transportation costs are higher–making a car a necessity.
• No sane retiree is going to rely solely on a motor scooter [see the note below].
• The couple is fairly healthy,
• They eat local cuisine. They don’t have to eat expensive imported food for every meal.
• Drinks wine/beer very moderately [wine here is imported and expensive]

My Observations and Nancy’s Responses

• I lived on $1240/mo. during my first year in Thailand. I made lots of mistakes and wasted lots of money but, after 6 months, found I could live quite comfortably on $600. For example,
• I rented a long-term studio in town for $80/mo. [see photo below] Utilities added $10.
• My long-term scooter rental, $100/mo. includes registration and insurance, servicing, new tires as needed, and a new scooter every 12 months. I’ve had no scooter problems. But see Nancy’s observations about scooter danger, below.
• I stay within the $200 food budget and have never eaten a better diet in my life.
• All my regular medical and dental expenses are out-of-pocket because I’m over 70. Thai health care is excellent and cheap. I just paid $600 for a root canal and crown.
• Toiletries are cheap. An organic skin cream costs $4 a good haircut $7.
• ‘Entertainment’ is up to you. I like wandering around observing Thai culture.
• The Internet provides plenty of information and entertainment, and I went to the pub to watch major sporting events since I don’t like having TV at home.
• Cel phones are cheap; overseas calls are not. Skype or use Google Hangouts to call home.
• Nancy is not kidding about Thai girls and savings accounts. They’re not mercenary, it’s just part of Thai culture. You are a rich farang whether you think so or not.
• There are decent restaurants where you can have three bottles of ice-cold beer served at your table for a total of $5.33, and good meals for $3
• You’ll notice the absence of a clothing budget. Clothes are so cheap here and you wear so few of them – shorts, tee-shirt, flip flops – that it’s not an issue.
• So budget! Thailand’s cost of living is still a steal! Work out how you want to live, then just do it!

Budget for Living in Thailand Costs vs. Scooter Danger

When I shared my observations about scooters with Nancy her response was, as usual, grounded in a reality that I’ve never experienced. Here’s what she said: “I stand by my original observation the elderly shouldn’t use motor scooters. It isn’t a matter of “if” they’ll have an accident, but rather “when” and “how bad”. Just come with me to the orthopedic wards at Suan Dok hospital to see what a motor scooter accident can do. These aren’t the guys with the head injuries – they’re in another part of the hospital”. See my web page on scooter dangers in Thailand.

Video: Budget for Living in Thailand

More about Thai Budgets and Cost of Living

• Cost of Living in Chiang Mai, Thailand – A Little Adrift – A full break down of the cost of living in Thailand, specifically as an expat living in Chiang Mai–includes specific food, rents, internet costs and what those expenses buy you on the road. … **Alternatively, before you get too far into what this buys, consider that my friends also living here shared their Chiang Mai cost of living for two people living a bit more luxuriously than my budget. They spent under $1500 per month (jointly) and had a beautiful apartment and full kitchen, and also …
• How To Live Like a VIP in Bangkok for $285.06 Per Month – This budget cost of living in Bangkok, Thailand, is just a taste of living possibilities. I understand that we all have differing priorities, lifestyle comforts, wants and needs – but if you really want to make something happen, …
• Cost of living Thailand: Living in Chiang Mai for $505 a month – Cost of living in Thailand: Living in Chiang Mai for $505 a month. A break down of expenses … I have become accustomed to not eating large amounts of meat, which keeps my food budget low. Still, the steak is cheap if you …
• Thailand Cost of Living | Expats in Thailand | Expats in … – The most wonderful spot on the planet can only be the place to live if you can afford it. The most essential part of a family’s budget is food. We cannot live without it and, in the Western world, the cost of food has skyrocketed …
• If beachside living is your thing, read The Best places in Koh Samui.

So there’s food for thought for your budget for living in Thailand. Do you think you can make it?

Chiang Mai Cost of Living

The post Budget for Living in Thailand appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.

Most companies oppose the government’s plan to raise the minimum daily wage nationwide to Bt400, US$13, or $300/month, as it will hurt small and medium-sized enterprises (SMEs), according to the Thai Chamber of Commerce. Chamber chairman Kalin Sarasin said that from the chamber’s discussions with many business operators, it was found that most of them worry over the impact of a further wage rise. He said that only the major companies could make the adjustments to accommodate higher wages due to their massive capital holdings. Most of the companies canvassed by the chamber would rather see the government focus on upgrading labour skills. Kalin said the government should promote more border trade, which is a key way to boost exports. After the government’s policy announcement, the chamber will talk with Deputy Prime Minister Somkid Jatusripitak to propose its opinions on economic issues. Remember, folks, unemployment among native born Thais is 1%. That’s right: one percent!!

Wages in Thailand seem low to Western visitors, but Thailand’s official unemployment rate, 0.56 percent, is among the lowest in the world, (it’s 9.4 percent in India and 6 percent in the Philippines. for example). The jobless rate in Thailand has been under 1 percent since 2011. How did it get so low?

Bank of Thailand spokesman Chirathep Senivongs Na Ayudhya explains: ”Our unemployment rate has been low not because of a different definition from other countries, but because of structural problems,” said . “The agricultural sector absorbs laborers and those who can’t find work can always look for jobs in the informal sector or do something on their own.”

Thai unemployment benefits are 50% of final salary – for a maximum of 180 days. Thai wages are low (see MDs’ salaries, below) so there’s little incentive to stay jobless. Those who lose their jobs often enter the ‘informal sector’ or seek out a part-time job, and so they’re counted as employed.

And 40 percent of Thais are engaged in agriculture, where there is a high percentage of underemployment and seasonal unemployment. The underemployed – estimated at about 0.5 percent – are counted among the employed. So if you lose your job as a store clerk and return home to help out on your family farm for at one hour a week, you are counted as employed.

Then, too, Thailand’s fertility rate from 2010-2015 is estimated at 1.4 by the United Nations Population Fund compared with 3.4 in the Philippines. Plus, its population aged 60+ rose from under 7 percent in 1994 to 15 percent last year, so more people are retiring and fewer entering the workforce. (in Japan, more than a quarter of the population is over 65, has 3+ percent unemployment. There are thought to be 3 million mostly undocumented migrant workers in Thailand from Cambodia, Laos and Myanmar. The government is beginning to register foreign workers, but the language barrier and lack of skills is a challenge to increasing their numbers.

And here’s the biggie: the informal sector of the Thai economy – anyone who’s not covered by formal work arrangements – accounted for more than 64 percent of the total workforce. This includes everyone from street vendors to taxi drivers, self-employed: they’re counted as employed.

The government doesn’t plan any major labor-market policy changes this year or next, and the inflation rate is falling (it’s forecast to breach 1 percent) there are no worries about the jobless rate, so expect it to stay very low.

What are Thai doctors’ wages?

Let’s look at the salaries of upper middle-class professionals: physicians, whose salaries vary depending on whether they work in public or private hospitals. Public hospital salaries range is 20,000 – 30,000 Baht/month.

Overtime on 1 or 2 evenings and, say, Saturday, can add another 20,000 to 30,000. Depending on experience or expertise there may be some extra income from pharmaceutical manufacturers for various services which could bring in a further amount of money a possible range 10,000 to 30,000 Baht/month. A private, Bangkok, hospital like Bumrungrad pays 60,000 – 150,000 depending on hours, experience and skills. With some private clinic work on top (most physicians spend time at these), a private sector doctor could earn 2 – 3 million baht a year, or $100,000. Given the purchasing power parity of the Thai baht, that’s an effective income of about $250,000.

Thai Luck,Wages and Dowries

More on Thai Wages

• For more on the state of the Thai economy, look at this sobering article from the Bangkok Post: Household debt keeps Thailand Southeast Asia’s sick man
• For more statistics on the cost of living in Thailand, take a look at this site, Numbeo
• For a video about the cost of living in Thailand, watch this.
• For more reading:
• • Cost of Living in Chiang Mai, Thailand – A Little Adrift – A full breakdown of the cost of living in Thailand as an expat living in Chiang Mai. Includes food, rent, internet costs and what those expenses buy you there.
  • Thailand Cost of Living | Expats in Thailand | Expats in Thailand – Thailand Cost of Living. One of the most important things to take into account when picking a place to live has to be the cost of living. The most wonderful spot on the planet can only be the place to live if you can afford it.
  • Thailand cost of living | Travel via Thailand – CURRENCY. Thailand’s currency is BATH (THB). $1 is about 32.75THB. COSTS. Thailand is one of the countries with the lowest cost of living. The prices depends on where you are. Like a bottle of beer in the Silom or …
  • Cost of Living in Thailand | Chiang Mai Solicitor – Cost of Living in Thailand, 10.0 out of 10 based on 2 ratings. Incoming search terms: chiang mai cost of living · chiang mai thailand cost of living · cost of living in chiang mai thailand. Related Posts. Amphur Offices in Thailand (1.000) …
  • 4 Countries Where Expats Can Live For Cheap – Business Insider – Seventy-four percent of survey respondents consider Thailand’s cost of living to be good or excellent, well above the global average of 35%. Housing is cheap, too: 85% of expats report that they are happy with the affordability …
  • How To Live Like a VIP in Bangkok for $285.06 Per Month – Сейчас […] Reply · Useful links for working & living in Thailand : Thailand Lad says: April 11, 2013 at 6:55 pm. […] http://migrationology.com/2011/07/cost-of-living-in-bangkok-thailand/ – Cost of living in Bangkok, Thailand […].
  • The real cost of living in Thailand – Keyframe5 – Thailand cost of living for a single man. Please note: this post was created on December 2014 with the currency rate at $1 USD = ฿32.9 THB. For the sake of this post and to make it easier to calculate, I’ll covert the currency as …
  • Thailand – Cost of Living – FlippTravel – Price List of the Basic Commodities – Average Costs in $ Milk (regular,1 liter) – 1.41 Loaf of Fresh White Bread (500g) – 1.13 Rice (white, 1kg) –

Wages in Thailand seem low to Western visitors, but Thailand’s official unemployment rate, 0.56 percent, is among the lowest in the world, (it’s 9.4 percent in India and 6 percent in the Philippines. for example). The jobless rate in Thailand has been under 1 percent since 2011. How did it get so low?

Bank of Thailand spokesman Chirathep Senivongs Na Ayudhya explains: ”Our unemployment rate has been low not because of a different definition from other countries, but because of structural problems,” said . “The agricultural sector absorbs laborers and those who can’t find work can always look for jobs in the informal sector or do something on their own.”

Thai unemployment benefits are 50% of final salary – for a maximum of 180 days. Thai wages are low (see MDs’ salaries, below) so there’s little incentive to stay jobless. Those who lose their jobs often enter the ‘informal sector’ or seek out a part-time job, and so they’re counted as employed.

And 40 percent of Thais are engaged in agriculture, where there is a high percentage of underemployment and seasonal unemployment. The underemployed – estimated at about 0.5 percent – are counted among the employed. So if you lose your job as a store clerk and return home to help out on your family farm for at one hour a week, you are counted as employed.

Then, too, Thailand’s fertility rate from 2010-2015 is estimated at 1.4 by the United Nations Population Fund compared with 3.4 in the Philippines. Plus, its population aged 60+ rose from under 7 percent in 1994 to 15 percent last year, so more people are retiring and fewer entering the workforce. (in Japan, more than a quarter of the population is over 65, has 3+ percent unemployment. There are thought to be 3 million mostly undocumented migrant workers in Thailand from Cambodia, Laos and Myanmar. The government is beginning to register foreign workers, but the language barrier and lack of skills is a challenge to increasing their numbers.

And here’s the biggie: the informal sector of the Thai economy – anyone who’s not covered by formal work arrangements – accounted for more than 64 percent of the total workforce. This includes everyone from street vendors to taxi drivers, self-employed: they’re counted as employed.

The government doesn’t plan any major labor-market policy changes this year or next, and the inflation rate is falling (it’s forecast to breach 1 percent) there are no worries about the jobless rate, so expect it to stay very low.

What are Thai doctors’ wages?

Let’s look at the salaries of upper middle-class professionals: physicians, whose salaries vary depending on whether they work in public or private hospitals. Public hospital salaries range is 20,000 – 30,000 Baht/month.

Overtime on 1 or 2 evenings and, say, Saturday, can add another 20,000 to 30,000. Depending on experience or expertise there may be some extra income from pharmaceutical manufacturers for various services which could bring in a further amount of money a possible range 10,000 to 30,000 Baht/month. A private, Bangkok, hospital like Bumrungrad pays 60,000 – 150,000 depending on hours, experience and skills. With some private clinic work on top (most physicians spend time at these), a private sector doctor could earn 2 – 3 million baht a year, or $100,000. Given the purchasing power parity of the Thai baht, that’s an effective income of about $250,000.

Thai Luck,Wages and Dowries

More on Thai Wages

• For more on the state of the Thai economy, look at this sobering article from the Bangkok Post: Household debt keeps Thailand Southeast Asia’s sick man
• For more statistics on the cost of living in Thailand, take a look at this site, Numbeo
• For a video about the cost of living in Thailand, watch this.
• For more reading:
• • Cost of Living in Chiang Mai, Thailand – A Little Adrift – A full breakdown of the cost of living in Thailand as an expat living in Chiang Mai. Includes food, rent, internet costs and what those expenses buy you there.
  • Thailand Cost of Living | Expats in Thailand | Expats in Thailand – Thailand Cost of Living. One of the most important things to take into account when picking a place to live has to be the cost of living. The most wonderful spot on the planet can only be the place to live if you can afford it.
  • Thailand cost of living | Travel via Thailand – CURRENCY. Thailand’s currency is BATH (THB). $1 is about 32.75THB. COSTS. Thailand is one of the countries with the lowest cost of living. The prices depends on where you are. Like a bottle of beer in the Silom or …
  • Cost of Living in Thailand | Chiang Mai Solicitor – Cost of Living in Thailand, 10.0 out of 10 based on 2 ratings. Incoming search terms: chiang mai cost of living · chiang mai thailand cost of living · cost of living in chiang mai thailand. Related Posts. Amphur Offices in Thailand (1.000) …
  • 4 Countries Where Expats Can Live For Cheap – Business Insider – Seventy-four percent of survey respondents consider Thailand’s cost of living to be good or excellent, well above the global average of 35%. Housing is cheap, too: 85% of expats report that they are happy with the affordability …
  • How To Live Like a VIP in Bangkok for $285.06 Per Month – Сейчас […] Reply · Useful links for working & living in Thailand : Thailand Lad says: April 11, 2013 at 6:55 pm. […] http://migrationology.com/2011/07/cost-of-living-in-bangkok-thailand/ – Cost of living in Bangkok, Thailand […].
  • The real cost of living in Thailand – Keyframe5 – Thailand cost of living for a single man. Please note: this post was created on December 2014 with the currency rate at $1 USD = ฿32.9 THB. For the sake of this post and to make it easier to calculate, I’ll covert the currency as …
  • Thailand – Cost of Living – FlippTravel – Price List of the Basic Commodities – Average Costs in $ Milk (regular,1 liter) – 1.41 Loaf of Fresh White Bread (500g) – 1.13 Rice (white, 1kg) –

Wages in Thailand seem low to Western visitors, but Thailand’s official unemployment rate, 0.56 percent, is among the lowest in the world, (it’s 9.4 percent in India and 6 percent in the Philippines. for example). The jobless rate in Thailand has been under 1 percent since 2011. How did it get so low?

Bank of Thailand spokesman Chirathep Senivongs Na Ayudhya explains: ”Our unemployment rate has been low not because of a different definition from other countries, but because of structural problems,” said . “The agricultural sector absorbs laborers and those who can’t find work can always look for jobs in the informal sector or do something on their own.”

Thai unemployment benefits are 50% of final salary – for a maximum of 180 days. Thai wages are low (see MDs’ salaries, below) so there’s little incentive to stay jobless. Those who lose their jobs often enter the ‘informal sector’ or seek out a part-time job, and so they’re counted as employed.

And 40 percent of Thais are engaged in agriculture, where there is a high percentage of underemployment and seasonal unemployment. The underemployed – estimated at about 0.5 percent – are counted among the employed. So if you lose your job as a store clerk and return home to help out on your family farm for at one hour a week, you are counted as employed.

Then, too, Thailand’s fertility rate from 2010-2015 is estimated at 1.4 by the United Nations Population Fund compared with 3.4 in the Philippines. Plus, its population aged 60+ rose from under 7 percent in 1994 to 15 percent last year, so more people are retiring and fewer entering the workforce. (in Japan, more than a quarter of the population is over 65, has 3+ percent unemployment. There are thought to be 3 million mostly undocumented migrant workers in Thailand from Cambodia, Laos and Myanmar. The government is beginning to register foreign workers, but the language barrier and lack of skills is a challenge to increasing their numbers.

And here’s the biggie: the informal sector of the Thai economy – anyone who’s not covered by formal work arrangements – accounted for more than 64 percent of the total workforce. This includes everyone from street vendors to taxi drivers, self-employed: they’re counted as employed.

The government doesn’t plan any major labor-market policy changes this year or next, and the inflation rate is falling (it’s forecast to breach 1 percent) there are no worries about the jobless rate, so expect it to stay very low.

What are Thai doctors’ wages?

Let’s look at the salaries of upper middle-class professionals: physicians, whose salaries vary depending on whether they work in public or private hospitals. Public hospital salaries range is 20,000 – 30,000 Baht/month.

Overtime on 1 or 2 evenings and, say, Saturday, can add another 20,000 to 30,000. Depending on experience or expertise there may be some extra income from pharmaceutical manufacturers for various services which could bring in a further amount of money a possible range 10,000 to 30,000 Baht/month. A private, Bangkok, hospital like Bumrungrad pays 60,000 – 150,000 depending on hours, experience and skills. With some private clinic work on top (most physicians spend time at these), a private sector doctor could earn 2 – 3 million baht a year, or $100,000. Given the purchasing power parity of the Thai baht, that’s an effective income of about $250,000.

Thai Luck,Wages and Dowries

More on Thai Wages

• For more on the state of the Thai economy, look at this sobering article from the Bangkok Post: Household debt keeps Thailand Southeast Asia’s sick man
• For more statistics on the cost of living in Thailand, take a look at this site, Numbeo
• For a video about the cost of living in Thailand, watch this.
• For more reading:
• • Cost of Living in Chiang Mai, Thailand – A Little Adrift – A full breakdown of the cost of living in Thailand as an expat living in Chiang Mai. Includes food, rent, internet costs and what those expenses buy you there.
  • Thailand Cost of Living | Expats in Thailand | Expats in Thailand – Thailand Cost of Living. One of the most important things to take into account when picking a place to live has to be the cost of living. The most wonderful spot on the planet can only be the place to live if you can afford it.
  • Thailand cost of living | Travel via Thailand – CURRENCY. Thailand’s currency is BATH (THB). $1 is about 32.75THB. COSTS. Thailand is one of the countries with the lowest cost of living. The prices depends on where you are. Like a bottle of beer in the Silom or …
  • Cost of Living in Thailand | Chiang Mai Solicitor – Cost of Living in Thailand, 10.0 out of 10 based on 2 ratings. Incoming search terms: chiang mai cost of living · chiang mai thailand cost of living · cost of living in chiang mai thailand. Related Posts. Amphur Offices in Thailand (1.000) …
  • 4 Countries Where Expats Can Live For Cheap – Business Insider – Seventy-four percent of survey respondents consider Thailand’s cost of living to be good or excellent, well above the global average of 35%. Housing is cheap, too: 85% of expats report that they are happy with the affordability …
  • How To Live Like a VIP in Bangkok for $285.06 Per Month – Сейчас […] Reply · Useful links for working & living in Thailand : Thailand Lad says: April 11, 2013 at 6:55 pm. […] http://migrationology.com/2011/07/cost-of-living-in-bangkok-thailand/ – Cost of living in Bangkok, Thailand […].
  • The real cost of living in Thailand – Keyframe5 – Thailand cost of living for a single man. Please note: this post was created on December 2014 with the currency rate at $1 USD = ฿32.9 THB. For the sake of this post and to make it easier to calculate, I’ll covert the currency as …
  • Thailand – Cost of Living – FlippTravel – Price List of the Basic Commodities – Average Costs in $ Milk (regular,1 liter) – 1.41 Loaf of Fresh White Bread (500g) – 1.13 Rice (white, 1kg) –

Thailand’s official unemployment rate, 0.56 percent, is among the lowest in the world, (it’s 9.4 percent in India and 6 percent in the Philippines, for example). Thailand employment is high and doctors’ salaries are low. The jobless rate in Thailand has been under 1 percent since 2011. How did it get so low?

Bank of Thailand spokesman Chirathep Senivongs Na Ayudhya explains: ”Our unemployment rate has been low not because of a different definition from other countries, but because of structural problems,” said . “The agricultural sector absorbs laborers and those who can’t find work can always look for jobs in the informal sector or do something on their own.”

If you’ve been making regular payments into the national unemployment program, Thai unemployment benefits are 50% of your final salary – for a maximum of 180 days. Thai salaries are low (see MDs’ salaries, below) so there’s little incentive to stay jobless. Those who lose their jobs often enter the ‘informal sector’ or seek out a part-time job, and so they’re counted as employed.

And 40 percent of Thais are engaged in agriculture, where there is a high percentage of underemployment and seasonal unemployment. The underemployed – estimated at about 0.5 percent – are counted among the employed. So if you lose your job as a store clerk and return home to help out on your family farm for at one hour a week, you are counted as employed.

Then, too, Thailand’s fertility rate from 2010-2015 is estimated at 1.4 by the United Nations Population Fund compared with 3.4 in the Philippines. Plus, its population aged 60+ rose from under 7 percent in 1994 to 15 percent last year, so more people are retiring and fewer entering the workforce. (in Japan, more than a quarter of the population is over 65, has 3+ percent unemployment.

There are thought to be 3 million mostly undocumented migrant workers in Thailand from Cambodia, Laos and Myanmar. The government is beginning to register foreign workers, but the language barrier and lack of skills is a challenge to increasing their numbers.

And here’s the biggie: the informal sector of the Thai economy – anyone who’s not covered by formal work arrangements – accounted for more than 64 percent of the total workforce. This includes everyone from street vendors to taxi drivers, self-employed: they’re counted as employed.

The government doesn’t plan any major labor-market policy changes this year or next, and the inflation rate is falling (it’s forecast to breach 1 percent) there are no worries about the jobless rate, so expect it to stay very low.

What are Thai salaries like?

Let’s look at the salaries of upper middle-class professionals: physicians, whose salaries vary depending on whether they work in public or private hospitals.

Public hospital salaries range is 20,000 – 30,000 Baht/month.

Overtime on 1 or 2 evenings and, say, Saturday, can add another 20,000 to 30,000. Depending on experience or expertise there may be some extra income from pharmaceutical manufacturers for various services which could bring in a further amount of money a possible range 10,000 to 30,000 Baht/month.

Doctors’ salaries in Thailand vary greatly. A private, Bangkok, hospital like Bumrungrad pays 60,000 – 150,000 depending on hours, experience and skills. With some private clinic work on top (most physicians spend time at these), a private sector doctor could earn 2 – 3 million baht a year, or $100,000. Given the purchasing power parity of the Thai baht, that’s an effective income of about $250,000.

• For more on the state of the Thai economy, look at this sobering article from the Bangkok Post: Household debt keeps Thailand Southeast Asia’s sick man
• For more statistics on the cost of living in Thailand, take a look at this site, Numbeo
• For a video about the cost of living in Thailand, watch this.

For more reading:

• Cost of Living in Chiang Mai, Thailand – A Little Adrift – A full breakdown of the cost of living in Thailand as an expat living in Chiang Mai. Includes food, rent, internet costs and what those expenses buy you there.
• Thailand Cost of Living | Expats in Thailand | Expats in Thailand – Thailand Cost of Living. One of the most important things to take into account when picking a place to live has to be the cost of living. The most wonderful spot on the planet can only be the place to live if you can afford it.
• Thailand cost of living | Travel via Thailand – CURRENCY. Thailand’s currency is BATH (THB). $1 is about 32.75THB. COSTS. Thailand is one of the countries with the lowest cost of living. The prices depends on where you are. Like a bottle of beer in the Silom or …
• Cost of Living in Thailand | Chiang Mai Solicitor – Cost of Living in Thailand, 10.0 out of 10 based on 2 ratings. Incoming search terms: chiang mai cost of living · chiang mai thailand cost of living · cost of living in chiang mai thailand. Related Posts. Amphur Offices in Thailand (1.000) …
• 4 Countries Where Expats Can Live For Cheap – Business Insider – Seventy-four percent of survey respondents consider Thailand’s cost of living to be good or excellent, well above the global average of 35%. Housing is cheap, too: 85% of expats report that they are happy with the affordability …
• How To Live Like a VIP in Bangkok for $285.06 Per Month – Сейчас […] Reply · Useful links for working & living in Thailand : Thailand Lad says: April 11, 2013 at 6:55 pm. […] http://migrationology.com/2011/07/cost-of-living-in-bangkok-thailand/ – Cost of living in Bangkok, Thailand […].
• The real cost of living in Thailand – Keyframe5 – Thailand cost of living for a single man. Please note: this post was created on December 2014 with the currency rate at $1 USD = ฿32.9 THB. For the sake of this post and to make it easier to calculate, I’ll covert the currency as …
• Thailand – Cost of Living – FlippTravel – Price List of the Basic Commodities – Average Costs in $ Milk (regular,1 liter) – 1.41 Loaf of Fresh White Bread (500g) – 1.13 Rice (white, 1kg) –

The post Thailand Employment Salaries appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.

Getting work permits in Thailand can be really tricky. Seventeen foreigners have been arrested for not having work permits, working illegally following a raid on a condominium in Chiang Mai. The raid, which took place at 12.30am on Friday found 17 Westerners of various nationalities providing online English classes to people in China from a room in the ground floor of the Riverside Condo. The farangs were asked to produce their passports and work permits and, while twelve produced passports, they were unable to produce work permits. Among them were three Americans, a Canadian, a German, a Dutch national, two Irish women, two Britons and two Australians. A fourth American was on overstay.

The remaining foreigners had passports and valid work permits but were in breach of work conditions: the foreigners had been hired by BOI 360, but the online language school was found to be operating without permission. The foreigners now have of face charges of working illegally in Thailand and are currently being held at Mae Ping police station. In order to work legally in Thailand farangs must have valid work permits and the appropriate Non-Immigrant visa/extension.

How does a farang get a legitimate work permit in Thailand? Why, find a specialist.

All Thai lawyers specialize in a niche of the law. Asking a non-real estate lawyer to do real estate work for you is to invite disaster. He won’t be up to date on regulation changes, which occur weekly, and he won’t have a sympathetic friend in the Land Office to guide him through the maze of paperwork.

My visa gal is great for residency visas and works miracles with the Thai Bureau of Immigration because she’s a former Immigration inspector. But ask her about work visas and she becomes hesitant because she doesn’t know anyone in the Labor Department – which is where Thailand’s work visas are issued. So I’ve been looking for a work visa specialist for over a year then, last week, a British friend introduced me to his labor lawyer and it was love at first sight.

His name, wonderfully enough, is Mr. Big. (That’s his Thai chue-len (ชึ่อเล่น) ≠ which is usually translated as ‘nickname’ but it’s much more than that. Thais use chue-len because they change their family names relatively frequently. And nicknames are a holdover from the belief that evil spirits (ปีศาจ ปีศาจ) are always looking for newborns to abduct and control, so using a chue-len instead of a normal Thai name confuses the spirits and helps to keep the child safe. The use of nicknames remains so widespread in Thailand that it’s not uncommon for friends to know each other for years and yet not know each other’s real name and surname).

Thai work permits allow you to work or operate a business in Thailand as a skilled professional or an employer. Without a Thai work permit working in Thailand can have severe consequences. Foreigners arrested for working without a permit are usually fined or imprisoned.

Thailand’s Labour Ministry and the Immigration Bureau have together launched the first smartphone app for expats to lodge requests for work permits and have them approved–though you will still need to make at least two “offline” trips to specially set up centres to complete the procedure. The app, Thailand Digital Work Permit, was introduced to companies and foreign employees last Friday. The first person to be digitally granted a work permit was Japan’s Koichiro Suda. The permit was approved by Waranon Pitiwan, director-general of the Department of Employment (DOE). Mr Suda works as a domestic sales coordinator for Minebea Thailand Co Ltd, one of the firms supported by the Office of the Board of Investment (BoI).

The app resulted from a project jointly launched by the BoI, the Labour Ministry and the Immigration Bureau called Single Window.

According to Thai regulations a successful work permit application depends on the hiring company’s registered capitalization. Money talks. Thai ‘Business Entities’ wanting to apply for work permits for foreign employees must have at least two million baht fully paid-up registered capitalization. If you have a Thai spouse you only need 1 million baht, or US$30,000. Here’s what the regulations say:

Foreign Business Entities who had operated their business in Thailand can apply their employees for work permit if they bring at least three million baht per employee into the country. The business entities may be granted a maximum of 10 work permits each. Before you can apply or be issued with a work permit you must first have a non-immigrant visa. This is required to apply for a Thai work permit in the Kingdom. Ideally, it should be acquired prior to your arrival in Thailand. We can assist you in obtaining it in your home country or in country close to Thailand. In addition, we can help you convert a tourist visa to a non-immigrant visa without leaving Thailand.

But Mr. Big can get you a work permit for almost anything, under almost any circumstances. A friend who wanted to teach a crania-sacral adjustment workshop here in Chiang Mai was able to get a temporary work permit to do just that. It cost her just 1500 Baht plus Mr. Big’s fee, and she had it in 48 hours!

To apply for a work permit, you must have either a non immigrant visa or a residence permit. Ideally, you would also have a non-immigrant visa before entering Thailand, since residence permits are usually granted only after you have lived in Thailand for at least 3 consecutive years under a non-immigrant visa. Your employer or potential employer may file an application for advance permission to work before you arrive in Thailand. However, the work permit itself will not be issued until you arrive in Thailand on a valid non-immigrant visa. You file the application at your nearest Provincial (Changwat) Department of Employment Office. The following documents must be submitted when you apply for a work permit. Note that Thai labor officials make changes in the list of required documents whenever they consider appropriate. All supporting documents usually must be translated into Thai with appropriate certification.

• Application form (Tor. Thor. 2) and 3 ID photos, front view and 5×6 cm. in size (taken not more than 6 months).
• Letter from employer certifying employment and reasons for not employing Thai national.
• Employment agreement.
• Copy of the company’s affidavit certified by the Commercial Registration Department (taken not more than 6 months).
• Copy of list of shareholders certified by the Commercial Registration Department (taken not more than 6 months).
• Copy of certificate of incorporation.
• Copy of Taxpayer Card, VAT certificate or Phor. Por. 01 and 09.
• Copy of current balance sheet with profit and loss showing total assets.
• Copy of Phor. Ngor. Dor. 50 (Corporate Income Tax Return) including receipt.
• Organizational chart.
• List of all expatriate(s) in the company indicating position and work permit number(s).
• Copies of educational certificates and letters of recommendation from previous employment.
• Copies of all pages of passport showing the valid Non?Immigrant Visa (B or O).
• Copies of all pages of the work permit of the authorized director showing the valid date (if the authorized director is a foreigner).
• A medical certificate certifying that the applicant is free from prohibited diseases (taken not more than 3 months).
• Power of attorney affixed with Baht 10 duty stamp.
• Map of the company’s location.
• Official form for notification of commencement of work (Tor.Thor. 10).
• Other relevant document(s), if any.
• Copy of Phor. Por. 30 for the previous 6 months including receipt (for new companies only)

All photocopies of documents must be certified as true copies by the authorized director(s) and affixed with the company seal. If the application is to be filed by another person, a valid Power of Attorney in the prescribed form must be attached with an affixed Baht 10 duty stamp.

On the application form, the job description entry must be completed with a detailed description of the job to be performed, how it is related to other employees, and what materials will be used in the said job. If the job applied for requires a license under a particular law in addition to the Alien Employment Act, a photocopy of such license, e.g., a teacher’s license, physician’s license, press card from the Public Relations Department, certificate of missionary status from the Religious Affairs Department, etc. must also be attached.

If you are married to a Thai national, the marriage certificate must be presented along with your spouse’s identity card, birth certificates of children, household registration certificate, and a photocopy of every page of your passport. If you are applying for a position previously held by another foreigner, a photocopy of your predecessor’s work permit, together with his/her notice of resignation from the company or a letter confirming his/her intended date of departure must be presented.

Previously, foreigners who needed to obtain a work permit in order to work were prohibited from doing any work, for any employer, anywhere, and under any such conditions if such were not detailed and, therefore, permitted in the work permit itself. That is no longer the case.

Until last year Thailand regulated foreign work permissions under the Alien Workers Act (2008) (the “Act”).

In 2017 the Emergency Decree on Non-Thais’ Working Management Emergency Decree, (2017) (“Decree No. 1”) repealed the Alien Workers Act (2008).

Decree No. 1, however, incorporated much of the repealed Act’s provisions and kept in force most of the regulations issued under it.

Then, on 27 March 2018, the Emergency Decree on Non-Thais’ Working Management (No.2) (2018) (“Decree No. 2”) was issued. Decree No. 2 amended Decree No. 1.

Section 70 of Decree No. 1 (and the Act) provided that “a person who is granted permission for working may not carry out the work of the type, with the employer, in a locality or on any working condition that is different from that specified in their work permit unless permission under Section 71 is obtained.”

Section 71 of Decree No. 1 (and the Act) provided that “a person who is granted permission for working, and who intends to change or add the following particulars, must obtain permission from the Registrar: (1) type of work (2) employer (3) location or (4) working conditions.”

And Section 73 of Decree No. 1 (and the Act) provided that “no person may allow a foreigner to work in a manner different from the requirements specified in the work permit.”

However, and very significantly, Section 37 of Decree No. 2 repealed Sections 70, 71, and 73 of Decree No. 1.

Furthermore, Section 28 of Decree No. 2 provides that a work permit holder may engage in any work that is not specifically prohibited to all foreigners on the “Official List” of work prohibited to foreigners.

When I arrived here I didn’t have much choice about making money in Thailand. My $1240 Social Security check was enough to live on but travel was not an option and I couldn’t even afford a car. So I pestered all the local expats who would listen and asked them what they did to make ends meet. The stories they told me about their mistakes, wins, and losses were inspirational and helpful: I adopted two of them for myself and also found that they’d given me enough material for a book. Here’s an outline of what it covers:

• Fifteen ways to start a Thai-based business
• How to sell Thai products back to your home market
• How the Thai government helps you make money
• Where to find products to sell
• What kinds of products sell best
• How to sell your services in Thailand
• How to sell your skills abroad from Thailand
• Getting a job and a Thai work permit the moment you arrive
• How to understand Thai culture…and fit in
• The 15 biggest pitfalls for doing business in Thailand

DETAILS BUY ($4.99)

• “His wide-ranging knowledge of the expat community is evident from the real-world examples that give the book an authentic flavor.The book is written with the charming immediacy of someone who is passionate about the lifestyle he has chosen and wants to make the advantages of living as an active retiree in the land of smiles available to others”. – “Superb Guide to Retirement financial planning in Thailand” – Ian D. Griffin   “This is a great book to show you how easy it is to make money in Thailand through many well thought out and well described ideas. it is a second great book to read after reading his “how to retire in Thailand”  – Brilliant retirement in Thailand and making money to boot!!! – By Nick Ash   WANT TO KNOW…  What to Do Before Coming to Thailand? What it costs to live in Thailand? How to get a work visa in Thailand? Thailand’s business pitfalls and opportunities? What kinds of money-making opportunities are available? How Thailand’s business culture works. (Hint: not like ours). How to export from Thailand? What to export? Fifteen Ways to Start a Thai Business? What jobs are available in Thailand? What to pack and what to leave behind? Who you’ll meet when you get here? How to meet other entrepreneurs in Thailand? Real Success Stories from Real People How to interact with the bureaucracy?   Then download “Making Money in Thailand: a Retiree’s Guide”. It’s the best business investment you’ll make.   Plus…useful charts, step-by-step checklists, links, budgets, helpful guides and reviews you can use.   “If you’re considering moving to Thailand so you can enjoy a comfortable retirement based on having a small American retirement income (from Social Security alone, or perhaps with a small pension too) you should be interested in this book. Although many Americans and Europeans report that they can live a decent life in Thailand on approximately $1,200 per month, most would agree that having a bit more cash is always a good thing. Author Godfree Roberts has had this experience and, in this insightful, detailed and often witty book, explains to retirees how to make money in a nation that differs markedly from the Western world”. USEFUL BOOK BY A MAN WHO KNOWS – By M. LATORRA “Gozen” (Las Cruces, NM USA)
• 112 pages

Also: Useful Charts, Step-by-step Checklists, Links, Budgets, and Helpful Guides to Preparing to do business in Thailand. And you’ll get useful reviews and smart tips to help you get started.

This Is How You Do It

Making money in Thailand is surprisingly easy. The economy is growing at 5% and the Thai Post Office goes so far as to make easy to sell Thai goods on EBay (door to door tracking and signature). Even though most of us who come to Thailand have at least a $1200 monthly income – the same as a Thai engineer makes – for two reasons we often get the urge to make a little more:

1. The first is to afford the semi-luxuries that make life enjoyable, like travel. Now that you’ve got the time, why not take advantage of the local budget airline’s mid-week special fare of $29.00 to Bali, for example? Or spend the hottest month at one of Thailand’s fabulous beaches? Fares are $60 from anywhere to anywhere in Thailand, and accommodation is ridiculously cheap.
2. The second reason is to have something to do, a challenge that gets you up in the mornings. Creating a new business from scratch in a new culture is certainly a challenge! But I’m enjoying it and so is almost every other expat I know here. That’s because there are so many opportunities.

Video

So, if you want to get work permits in Thailand, let me know and I’ll introduce you to Mr Big. Now here’s some advice from a fellow expat:

The post Work Permits in Thailand appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.

Yet despite all that, the streets are safe, clean and well lit, the roads well maintained, infrastructure is always being upgraded, and people are in a good mood 24×7.

Making money in Thailand is surprisingly easy because Thailand’s unemployment rate is 1%, everyone’s in a good mood,and the economy is growing at a steady 5-6%. Gross domestic product grew an impressive 19% last year. Much of that can be credited to the tremendous floods and the consequent rebuilding boom. But even so, the rate of growth surprised everyone. Experts had predicted growth to come in at 12–15% for the last quarter, but the resilient Thais blew that away. Here in Chiang Mai the signs are everywhere: building is booming and almost all of our hundreds of temples is on a major building or renovating tear. Exports are up, and so is domestic consumption. The ‘surprise’ part is probably attributable to the unofficial economy. Most Thai transactions are for cash, and almost all Thais have unreported income. When I rented a car last week, for example, the rental company refused my credit card and insisted on a cash deposit (only $170, on a brand new Toyota!).

After the USA, it’s fun to walk around in a booming economy. Normally happy Thais are now ecstatic. Everyone’s got a job, and everyone’s expecting bonuses. Friends who are hiring complain that most of the Thais who accept positions fail to show up on their scheduled first day – or ever! They’ve found better offers. Strangely, inflation has stayed low. I had an iced coffee, beef with noodles, and a large bottle of cold Singha beer yesterday for 134 Baht–$4.50. So… as the Aussies say, no worries! Here’s an Aussie video talking about exchanging money in Thailand:

And here’s more reading about money in Thailand:

• 7 Ways to Save Money Traveling in Thailand >> – Paper Planes – So we’ve covered the basic monthly expenses for living in the Land of Smiles and some surprising money sucks, now we’re on to how to save money in Thailand. While most things are very cheap, there are a few little ways to …
• Make Money while Living in Thailand for Expats | Thailand Expat … – Therefore, you will look for ways to make extra money in Thailand. This is especially true if you need to make money in your home country’s currency so that you can pay bills outside of Thailand. Thus, methods for earning …
• In Thailand Money comes first! – News from an Asia traveler – Read also: Credit card poker game in Thailand. Tags: ATM, ATM’s in Thailand, Money, Money in Thailand, Thailand · *. Home In Bangkok is an independent website that helps you find your perfect new “Home” in Bangkok.
• Cost of Living in Thailand: 1. Food | Understanding Thailand – Thailand’s culture, history, and present reality (by Godfree Roberts)
• 3 Simple Ways to Earn Money and make a living in Thailand … – Three easy ways for Foreigners to Earn an Income whilst Living in Thailand. With the western world deep in recession, lots of people losing their jobs and homes, there tends to be an air of doom and gloom amongst the …
• Travel in Thailand advice and information | TTN – Thailand Travel … – Before choosing the right time of year for a trip to Thailand, beginning with choosing the right airline that will offer the best prices. Use search engines and travel agency available on the website Thebestofthailand. The number …
• Travel Scam Asia Story And 5 Top Tips | engagingthailandtips Blog – Travel is such a marvellous thing and to open my eyes and learn the cultures and traditions of another people is of great interest to me. However whether a traveller or a tourist the one thing that must be paramount when …

The post Money in Thailand’s Booming Economy appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.

A British friend who’s making money in Thailand by managing Chiang Mai’s swankest private hotel told me he’s “a slave to TripAdvisor”: as soon as he wakes he checks TripAdvisor. A bad review can wreck months of hard work. You, too, can be such a slave…

May 10, 2016: Several of you have emailed to say you’re interested in local businesses so we’ve been looking been looking for modestly-priced business opportunities around Chiang Mai. Here’s the first: a guesthouse. I haven’t vetted this place, don’t know the owner and receive no reward for bringing it to your attention (the same goes for real estate listings). For this job you would need some hospitality experience and trustworthy local help to audit the books and instruct you about the unique pitfalls of doing business in Thailand.

The financial requirements of this deal are: Deposit 500,000 baht and 120,000 baht monthly. In US dollars, that’s $14,000 and $3,500 monthly. Doesn’t look so bad when you convert it to familiar currency, does it? Term of the lease? Long-term. Sounds like it’s up to you and the landlord to negotiate the term. Location? Soi Rachamanka 3, right in the beating heart of the Old Town. Could hardly be  better. You can contact the owner at +66-(0)83-515-9988 or (0)87-972-9988. But read the rest of this post before you invest a penny…

Starting a Business in Thailand Can be Tricky

One factor that complicates starting a business in Thailand is that, under current law, foreigners and foreign businesses may only own a 49% stake in local companies. The current law forbids foreign majority ownership in sectors where Thai businesses are deemed not ready to compete with foreign companies. Businesses have circumvented restrictions by issuing preferred and common stock options, with preferred shares enjoying more voting rights. Now a draft law put forward by the Ministry of Commerce would restrict foreign firms from using preferred stock to retain control.
“This proposed change would have far-reaching ramifications that would affect thousands of existing firms here, big and small, and would certainly deter future foreign investment,” said Marcus Burtenshaw, executive director of real estate consultancy Knight Frank Thailand.
“My business is one that you can run from literally anywhere. We registered in Thailand because we like the lifestyle here,” said Chris Roberts, who did not provide his real name out of fear of a possible backlash. Roberts runs a small IT firm that specializes in software engineering. His company employs only four foreigners but has over 20 Thai staff. He says that while he has Thai partners who own the majority of the company, they do not have executive authority on the direction of the company. “If they’re going to make it difficult for me to run my business, then I have no problems about packing up and moving somewhere else.”
Resistance from foreign officials and businesses has prompted internal reviews and assurances from the Ministry of Commerce that any changes to the law would be made after consultations with all parties. A source from the ministry said that any changes are still preliminary and that all changes would have to go through both the legislative assembly and the cabinet – adding that compromises with foreign businesses could be made, as a reworked Foreign Business Act could allow foreigners to own a majority share in certain sectors including accountancy, legal services, architecture, engineering, brokerages, advertising, hotel operations, food and beverages and “other service businesses.” The ministry said some restrictions may be relaxed as a compromise for limiting the use of preferred stock options. Yet foreign companies say that is not enough.
“Imposing tighter restrictions would be seen and felt as a step backwards at a time when foreign direct investment levels are low and Thailand’s neighbours are becoming increasingly open for business,” said Burtenshaw.
The various chambers of commerce agree with such sentiments. When rumours circulated about the proposed changes, the American Chamber of Commerce quickly pointed out that the last time such restrictions were discussed in 2007, the stock market dropped 15 per cent in one day as a result.
Stanley Kang, chairman of the Joint Foreign Chambers of Commerce, said erecting more protectionist barriers would be going against the tide of increasingly freer trade.
“With the ASEAN Economic Community due to be implemented next year, there is going to be more competition in the region, so we want to see more liberalization of the economy.”
Sources within the Ministry of Commerce said the committee overseeing the draft law is resolute in the belief that it is vital to protect Thai interests.
“To them, this is not about chasing away foreign businesses but protecting Thai ones. More transparency and fewer loopholes can only be a good thing,” one official said on condition of anonymity.
For others, however, the proposed changes come at a bad time. As Thailand’s economy slowly recovers from a decade of political instability and the world comes to grips with the country’s new military government, any changes that rock the boat could only worsen the situation.
“Thailand faces a choice,” British Ambassador Mark Kent wrote in a blog post circulated by the British Chamber of Commerce.
“It can choose to seize the initiative again and make itself the most attractive destination for foreign investment … or it can choose a different path.”

A Thai Startup: Richard’s Cosmetic Business

Richard Berry is launching a new cosmetics business in Chiang Rai, Thailand, about 3 hours north of Chiang Mai, near the Myanmar border. I’ll be following the progress of Richard and his partner, Uwie, over the coming months a posting videos of each stage of their adventure. Here’s some of what he had to say, based on his progress to date:

Me: so, if you’re thinking of doing business here, what are some of the things to do before you commit?

Richard: Okay. Buy Thailand Fever, the book. And by the way, it’ll give you a little bit of insight into how the Thais think differently. You have to understand that their thought process is their actual mentation is based on the five precepts, and an animus society is very, very different from the way we think in the west. The language, okay, we think if you speak the same language. It’s very different. So the key factors that have helped me, and while our business isn’t open yet, we’ve got the product produced, is to find a farang who’s successful in business, who doesn’t moan about the Thais, also, somebody who accepts the culture is very important. Someone who’s not got a business who battles with the Thais. So find someone who accepts the Thai way of life, who’s successful, and go and talk to them. And they’ll always be happy to impart their information to you. So that’s the key factor. You will not learn it from books. You will not learn it on YouTube or any videos. You need to talk to somebody who’s set up businesses out here, and that’s what’s helped me. That’s the key factor.

What about language?

I can get by with basic Thai, and every single new word I’ve learned has made it easier, and you’ll get more respect from the Thais you deal with. So I would say, if you’ve got a predisposition towards learning, and I haven’t really, and even if you haven’t learned the language, go to school. Learn from books. The best book ever is by James Higbie, called Essential Thai Grammar, I think, or the Fundamentals of Thai Grammar, big thick book like this. No one’s ever come near learning from a book, but you need to go to learn lessons, to get the pronunciation right. If you can learn the script, it’s a phonetic language, so if you learn the script, you cannot pronounce it incorrectly. So that would help a lot, and of course you won’t have the wool pulled over your eyes. You’ll get to understand a little bit, and you’ll get so much respect from your Thai business partners and the Thais you deal with in the street. They love it.

Further Reading

How can you do better than to read the classic, Making Money in Thailand?  It describes 22 ways that Westerners who retire in Thailand can (and DO) make extra income. From legal employment to buying a business to starting one. Covers budgets, profit margins, on-line and off-line businesses, visas, legalities, business culture, import and export, and a range of stories and videos by and about Thai expats making extra money,  and more.

The post Making Money In Thailand appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.