Thailand retirement Archives - Thai Retirement Helpers: Retiring in Thailand Made Easy Get settled in Thailand in 24 hours: from visas to banking to accommodation Tue, 06 Aug 2019 08:36:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://www.thailandretirementhelpers.com/wp-content/uploads/favicon-1.ico Thailand retirement Archives - Thai Retirement Helpers: Retiring in Thailand Made Easy 32 32 64208192 Thailand Employment Salaries https://www.thailandretirementhelpers.com/thailand-employment-salaries/ https://www.thailandretirementhelpers.com/thailand-employment-salaries/#comments Sun, 04 Aug 2019 04:48:58 +0000 http://www.trh.superfasttests.com/?p=5197 What are Thailand Employment Salaries? 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 […]

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]]> What are Thailand Employment Salaries?

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

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

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

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 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) –

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]]> https://www.thailandretirementhelpers.com/thailand-employment-salaries/feed/ 1 5197 Chiang Mai Cost of Living https://www.thailandretirementhelpers.com/chiang-mai-cost-of-living/ https://www.thailandretirementhelpers.com/chiang-mai-cost-of-living/#comments Mon, 10 Sep 2018 03:50:53 +0000 https://www.thailandretirementhelpers.com/?p=5325 Chiang Mai Cost of Living An Aussie, Michelle Hammond, writes that living in Chiang Mai saves her $23,994 a year: “Before moving here, I knew Chiang Mai offered low-cost living and that the savings I’d make would mean I’d be in for a nice lifestyle upgrade. But I didn’t realise just how good the value was. Now I’m […]

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]]> Chiang Mai Cost of Living

An Aussie, Michelle Hammond, writes that living in Chiang Mai saves her $23,994 a year:

“Before moving here, I knew Chiang Mai offered low-cost living and that the savings I’d make would mean I’d be in for a nice lifestyle upgrade. But I didn’t realise just how good the value was. Now I’m settled in, I’ve a good handle on my budget and the savings I’m making run right across the board, from the essentials to the little luxuries… Whenever I need some additional cash, I go to best payday loans uk
Rent: Yearly Cost Saving: $10,932. Regardless of whether you’re a homeowner or a renter, housing is arguably the biggest expense you’ll face while living in Australia. In Melbourne, my partner Jason and I paid $1,738 (plus bills) for a two-bedroom apartment in an old building with no amenities. This worked out to $400 a week, cheap by Melbourne standards. Compare this to our modern condo in the trendy Chiang Mai suburb of Nimman, which comes with a pool, gym, sauna, rooftop area and more.The beautiful pool inside our condo complex.
Chiang Mai Apartment pool
The cost? 20,000 baht (about $827) a month. That’s considered expensive by Thai standards but it’s less than half the cost of our rental in Melbourne. Friends of ours rent a much older place, with no amenities, in the neighbouring area of Santitham for 7,000 baht ($290) per month.
Transport: Yearly Cost Saving: $5,824
Cars are expensive to run. Back in Melbourne, it cost me at least $50 a fortnight to fill up my Hyundai Elantra. That’s $1,300 a year, just on petrol. Add to that the cost of insurance (in my case, $812 for comprehensive cover) and registration ($800), and you’re looking at a total of $2,912. Multiply that by two (Jason’s car expenses were roughly the same as mine) and the grand total is an eyewatering $5,824. We have no need for a car in Chiang Mai, everything we need is within walking distance. If we do need to travel somewhere, we can catch a Grab (Thailand’s version of Uber) for as little as 68 baht (about $3).
Massages and Beauty Treatments: Yearly Cost Saving: $3,832
I used to dread going to a hair salon in Melbourne. Every six weeks, I’d fork out about $250 for a cut, colour and blow-dry. I also used to treat myself to a pedicure ($30) every three months, which meant my beauty expenses—not including cosmetics—would set me back around $2,120 a year. While beauty treatments aren’t dirt-cheap in Chiang Mai, there are still savings to be had. A cut, colour and blow-dry starts at around 2,850 baht ($118), while a pedicure is about 300 baht ($12). That’s an annual saving of $1,128. Then there’s the money you’ll save on massages. You can get a full-body, one-hour, oil massage for as little as 200 baht ($8). In Australia, that same massage would set you back at least $60. Let’s say you treated yourself to one massage per week. That’s an annual saving of $2,704.
Dining Out: Yearly Cost Saving: $2,600
We love eating out. But back in Melbourne, we always felt a little guilty if we didn’t cook the bulk of our meals, purely because of the cost. I estimate we spent at least $150 on either restaurant or takeaway food every week. Even takeaway Thai would cost about $40 for both of us. That’s certainly not the case here in Chiang Mai, where you can eat fresh, authentic Thai food for a quarter of the price. The other night, we spent 220 baht ($9) for two servings of pad Thai, a plate of pork ribs and two mango shakes. All this for less than $10—yum! We eat out every single night in Chiang Mai—for about $100 per week. Compare this to our weekly restaurant/takeaway spend in Melbourne and we’re saving about $2,600 a year on dining out.
Drinks: Yearly Cost Saving: $806
We aren’t big drinkers, but we’ve noticed a considerable difference between the price of drinks in Chiang Mai compared to Melbourne. Back home, a beer would cost about $10. Here you can sip on a cold brew for as little as $2. Even if you only drank one beer a week, that’s a saving of $416 a year! Beer isn’t the only refreshment you’ll pay less for. You can pick up a fresh fruit shake (literally just your fruit of choice, mixed with crushed ice) for 30 baht (about $1.25) or a delicious smoothie packed with different ingredients for 60 baht ($2.50). In Australia, fresh smoothies cost upwards of $10. Assuming you enjoyed just one smoothie every week, that’s an annual saving of $390.
And here are some of my own and my friends’ experiences with the cost of living in Chiang Ma:

Medical: Dermatologist visit without an appointment: vital signs, 10-minute wait, evaluation, CO2 removal of two pre-cancerous lesions: 996 Baht. (You didn’t think Chiang Mai’s cost of living was so low, did you?)

Two farang friends have just delivered baby 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 in early July. 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 (3,000 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.

Yaris Alignment
Yaris Alignment: Free Because I Bought the Tires at this Shop

Bathroom Installer: I consider Thai bathrooms more dangerous than Thai roads so decided to install three grab bars in case I slip. Home Pro, the hardware store that sold the bars quoted me 1,100 baht (Aimie was shocked at the price but this was too important to haggle) and sent around a man with the experience and equipment to drill tiles (a tricky business) and I showed him where and at what height I wanted each bar to go then left him to get on with his work.  Thais don’t give up any freedom just because you’re paying them and one of those freedoms is deciding how things should be done. This means you don’t always get what you expect – or want. He installed the bars neatly and professionally in 30 minutes but so far up the wall that I have little chance of grabbing them if I slip, as you can see from the height the door handle.

Grab bar Chiang Mai
Grab bar Chiang Mai

The garden installer came to put in some shrubs outside my front fence. All my neighbors have hedges and my fence looked naked without one. I told the crew where to break up the thin concrete outside the fence and left them to it. They had other ideas, as it turns out. Their idea is what you see in the photograph: a raised garden surrounded by bricks. It doesn’t match the rest of the street and, worse still, it gets 12 hours of direct sun in summer and the soil gets so hot that it broils the roots of anything but the hardiest weeds.

My hairdresser is an artist. He finds my ultra-short hair style an affront to his aesthetic sensibility. Every time I go for a cut – 220 Baht – he gives me the style that pleases him. Then follows a ‘yes but’ discussion during which I make excuses for the hairstyle I need (“I go swimming every day and cannot spend time drying it”, etc.). He shakes his head in disbelief and, eventually, complies.

I mention these three people not in any negative way, but to contrast Thai culture with our own: Thais feel freer to be themselves, express their own opinions, and ignore the master-slave relationship that Western employees are encouraged to embrace. And now to a different adventure:

Chiang Mai Garden
Chiang Mai Garden

The Plumber: I heard water running outside the house day and night for weeks, then came home to find a a water bill pinned to my gate for 9,761 baht – 30x times normal. A water inspector then showed up and located the leak in a water junction box (no the West does not have such things, and I’m not sure why Thailand does) in the yard behind the house. It was clear that someone in the past had attempted to repair it with what looked like black electrical tape, which had finally given way. The inspector sent a repairman who quickly set things right, but I was now in a tricky position: under Thai law I am responsible for everything in and around the house, but this strange box had water pipes entering it from other properties and the damage was done before I signed the lease. “Did you take a photograph of the old repair?” was Aimie’s first question. Damn! It hadn’t occurred to me that I’d need evidence. However, after some back and forth, the owner offered to split the bill.

Picked up cushions for the two Yang chairs (like the one in the picture). Total for two big cushions, cover and zipped outer covers was 3,180 baht. When I tried to pay, the lady behind the counter became concerned and explained that I had paid when I ordered the cushions. I find this kind of honesty typical in Chiang Mai. Cheating is quite rare.

Thai Yang Chair
Thai Yang Chair

Internet Bills: I dumped my unreliable Internet carrier, 3BB, and put in a direct fiber connection from AIS, whose equipment is much newer and more reliable. I’m paying 1300 Bhat per month for 30Mb fiber. Twice the speed for little more money and less down time. When you’re figuring your Thailand cost of living, you can usually get Internt free via WiFi in condos and apartments – so that’s a potential savings.

More Chiang Mai Cost of Living

Town gas is unknown in this part of the world, as is cooking with gas indoors. Most domestic kitchens are outdoors, with charcoal braziers. My house has a small Western kitchen with a two-burner stovetop with a small (15 kg) tank underneath. When it ran out last week I took it down to the local gas merchant and swapped it for a full one – enough to last me 6 months using it once a day.

Reading Glasses. After cataract surgery (below) I need reading glasses and, since I only use them at home, did not want fancy (2,000 baht) frames. Bought four pairs of reading glasses for 100 baht each and had the prescription lenses made up and inserted into them for 2,100 baht. Total for four pairs of prescription readers: 2,500 baht ($85).

Furniture: Took delivery of two yang chairs to match the big yang chair/bed/lounge (4,000 Baht each, above) I bought last month (12,000 Baht, below). These are popular locally since the sofa-style yangs double as occasional beds for unexpected guests – and unexpected guests are the most common kind here. They’re (very) solid teak and weigh a ton. I’m planning to upholster them with some fabulous silk from our local silk merchants, Shinawatra, who make beautiful stuff. Very expensive, though.

Refrigerators: This month’s shopping has been educational and fun, as usual. When we’re shopping together sales staff assume Aimie and I are married. She cracks up and tells me, “They call me ‘madam’ instead of ‘sister’ and congratulate me on having such a rich husband”. Their congratulations came when I went to buy a good quality(!) $200 mattress for the guest room (visitors have been lining up since friends learned about the spare bedroom). I was tired of defrosting the Panasonic refrigerator that came with the house and I fell for a tall silver Samsung with a separate freezer on sale at HomePro for 9,999 Baht, $330. Two guys delivered and installed it that afternoon and stayed to explain the controls – which was rather sweet.

Thailand Cost of Living
Big Yang

Utility Bills: One advantage of condos is that the landlord pays the utility bills. The disadvantage is that she then charges you double what she paid. I was looking forward to saving a few bucks when my first round of bills arrived for the house but I discovered that, like so many aspects of Thai life, bill-paying is more complicated than it appears. For one thing, the bills are in Thai. For another, most companies – including the biggest – have hit-or-miss billing software. Why? I suspect it’s a combination of the facts that

  1. Thais hate being told how to do things (especially by farangs)
  2. They always assume that the Thai way is best, and
  3. They can figure it out themselves.

One result is that my cellular carrier, True, does not bill me at all. Despite my pleas (and complaints, when my service is discontinued for non-payment) they simply tell me that their billing department is ‘having problems” and that I should ‘just remember next time’. The lady says it with the sweetest smile so I apologize and pay meekly. The water bill comes monthly on a cash-register printout slip. It’s about $5 a month and I can pay it – like most bills in Thailand – at any 7-11 store. Reassured by this knowledge, I waited a few weeks before paying the first bill  because there’s no convenient 7-11 near my house. Then I found to my dismay that I was ‘too late’ and would have to visit the Water Department on the other side of town. Bummer. The Water Department building is clearly signed – in Thai – so it took me a while to find it. I finally figured out that the building with the huge, shiny blue pipe and valve in front of it must be the right place. (Pipes and valves are beautiful, from the Water Department’s point of view, of course). Living in Thailand teaches you to look for contextual clues, that’s for sure!

Trash Bills: The trash bill is a bit of a mystery. There’s no regular trash pickup so, if I want it picked up, I must leave the bin outside the gate, in the narrow laneway, permanently. The big yellow truck roars by several times a week, but I’ve taken to carrying my trash to a local drop-off bin (a recycled blue plastic barrel) when I go out for my early morning walk. The standard trash bag in Thailand is a recycled plastic shopping bag, so that’s what I use, too. And since I started hauling  my own garbage, the bills (30 Baht/mo) have stopped. Trash collection is not going to figure heavily in your Thailand cost of living – as you see!

Rent: The least problematic aspect of Thailand’s cost of living is my rent (10,000 Bt/mo): I just transfer it from my online bank account directly to my landlady’s account with a few mouse clicks). On line bank payments are as easy here as they are there, thank God! More here..

So there you have it: bill paying is a curse that we must all endure since Adam and Eve made their rash decision to leave Paradise, and in Thailand it’s a mixed curse. But Chiang Mai’s cost of living is pretty hard to beat!

 

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]]> https://www.thailandretirementhelpers.com/chiang-mai-cost-of-living/feed/ 10 5325 Work Permits in Thailand https://www.thailandretirementhelpers.com/work-permits-in-thailand/ https://www.thailandretirementhelpers.com/work-permits-in-thailand/#respond Sat, 04 Aug 2018 12:47:25 +0000 https://www.thailandretirementhelpers.com/?p=5320 Work Permits in Thailand 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 […]

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]]> Work Permits in Thailand

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.Work Permit

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).

 

Thailand Digital Work Permits

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)

Making Money in Thailand GODFREE ROBERTS, ED.D.

  • “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

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Making Money in Thailand
Making Money in Thailand
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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:

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]]> https://www.thailandretirementhelpers.com/work-permits-in-thailand/feed/ 0 5320 Transferring Money to Thailand https://www.thailandretirementhelpers.com/transferring-money-thailand/ https://www.thailandretirementhelpers.com/transferring-money-thailand/#comments Sat, 09 Jun 2018 14:46:27 +0000 http://www.trh.superfasttests.com/?p=5036 Before you start transferring money to Thailand, even before you leave home: Beware!… your cable, utility, etc. vendor will tell you that your accounts are cancelled. Don’t believe your vendor! Many accounts I thought were cancelled are not. They just kept billing me – which is really bad if you have auto billing. The rats […]

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]]> Before you start transferring money to Thailand, even before you leave home: Beware!… your cable, utility, etc. vendor will tell you that your accounts are cancelled. Don’t believe your vendor! Many accounts I thought were cancelled are not. They just kept billing me – which is really bad if you have auto billing. The rats just help themselves to your money. So make darn sure that those accounts are dead and buried and stay on them until the day you get on the plane. It’s much harder once you’re in Thailand.
My banking advice is to be prepared: keep plenty of reserve funds so you are covered for all the time the process takes. Be prepared for lots of frustration and waiting. The more you can line up ahead of time, the better. Forget about the phone. I made multiple calls to Social Security and nothing helped. Idiots. The Manila Social Security office was also useless. See the embassy immediately you arrive in Thailand. I didn’t get anything taken care of until I made an appointment at the US embassy where they notarized my instructions to Social Security.

After the US embassy I saw my Bangkok Bank manager and he was eager to get going. I finally recieved my first ssi deposit last week, 4 months after I arrived.

I would not advise keeping all your money in one bank. I keep 2 accounts, one US and one in Thailand and I transfer money online once a month. Here’s how you do it:

Go to this Bangkok Bank webpage and open this link. Open an ordinary savings account at a branch of Bangkok Bank in Thailand. You then have an ATM card and you can make withdrawals in Thailand once transfers are completed … usually 2-3 days, allowing for weekends or holidays.

Domestic transfers can be made from your US bank (or other payer) to Bangkok Bank in New York using exactly the same name and account number that you have on your account in Thailand. It is a domestic transfer (no need for an International transfer) from an American bank in dollars.

The dollars you deposit in NY will appear as a baht bank deposit in your account here in a couple of days and your passbook entry will show it is a foreign exchange deposit, which may be useful in future with Immigration, when you want to take money out of Thailand. The fee is $5 for exactly $2,000 transfer; $2,000-4,000 attracts a $10 fee.

Depending on what your payer or transferring bank require, you can use the ABA number or Fed routing number below. No need for an international transfer and no need for a Swift code.

Bangkok Bank New York Branch
Mr. Thitipong Prasertsilp, VP & Branch Manager
29 Broadway, 19th Floor, New York
NY 10006
Business Hours: Mon-Fri (9:00 am to 5:00 pm)
Tel: (1-212) 422-8200
Fax: (1-212) 422-0728
SWIFT: BKKB US 33
E-mail: helpdesk.nyb@bbl.co.th
FED Routing No: 026008691
CHIPS ABA: 0869

When setting up your home bank use the one way transfers option if they offer it since it cannot be used to withdraw money from Bangkok Bank and any such attempt will lock up the account. Without that option they will send test deposits of a few cents initially and you will have to report back receipt and amount. If you have SMS set up the bank will send notification to you.

I just go to my US bank online account, hit ‘transfer money’, then to ‘external transfer’, hit ‘add account’, put in the routing number for Bangkok Bank NY (#026008691) and ‘Bangkok Bank NY’ pops up. Now I enter my Bangkok bank savings account number and hit ‘submit.’

I have my Social Security ‘direct deposited’ into my Bangkok Bank Account using the RTN of their New York number which is also called ABA number

Important Note: You cannot transfer funds from Bangkok Bank’s account in Thailand to your account with banks or online payment service providers in the US via Bangkok Bank’s New York branch and the ACH system. If you initiate direct debit or ACH debit transactions to Bangkok Bank’s New York branch, banks in the US and online payment service providers may suspend your account.

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]]> https://www.thailandretirementhelpers.com/transferring-money-thailand/feed/ 2 5036 We Get Mail – From Retirees in Thailand https://www.thailandretirementhelpers.com/we-get-mail-from-retirees-in-thailand/ https://www.thailandretirementhelpers.com/we-get-mail-from-retirees-in-thailand/#comments Wed, 09 May 2018 18:10:02 +0000 http://www.trh.superfasttests.com/?p=1350 Mail From Retirees in Thailand Dear Neil and Bruce, I know that you guys would have heard me talk of my love of Thailand many times. But I got a reminder in the last 2 days which I thought I should relate. Monday morning I was catching a sawngthaeo from Mae Jo to Chiang Mai for […]

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]]> Mail From Retirees in Thailand

Dear Neil and Bruce,

I know that you guys would have heard me talk of my love of Thailand many times. But I got a reminder in the last 2 days which I thought I should relate.

Monday morning I was catching a sawngthaeo from Mae Jo to Chiang Mai for the first time. At one point a blind man got on. Immediately he became a joint responsibility for all passengers. That evening I was travelling back on a very crowded sawngthaeo (at least 22 passengers) hanging with several others out the back. One woman insisted on me giving her my bag which she nursed on her lap till the numbers dwindled.

Yesterday an older Thai man struck up a conversation with me – quizzing me in English while I tried to answer in Thai. When he got off, after paying his fare, he put his head back in the window and in a booming voice almost sang the words, “Welcome to my country!”

After my dental appointment yesterday I was walking back through Chinatown when I remembered I needed some powder to deal with a bad case of heat rash. I was cursing myself for not going into the pharmacy next door to the dentists which is in the heart of the tourist area and I felt sure they would speak English.

Anyway I went into a Chinese chemist asking in Thai if the assistant spoke English. I hadn’t noticed he was wearing an Aussie soccer shirt. It turned out he had studied in Melbourne where he had learned to play Aussie rules despite having played soccer all his life. He now plays Aussie rules with a team in Thailand and on ANZAC Day every year his team goes to Kachanaburi to play an international team (maybe from Malaysia or Hong Kong) to entertain returning POWS or their families. Can you believe it?

–Love Steve

If you enjoy reading mail from retirees in Thailand, please be sure to let us know. We’ll publish more!

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]]> https://www.thailandretirementhelpers.com/we-get-mail-from-retirees-in-thailand/feed/ 3 1350 Money in Thailand’s Booming Economy https://www.thailandretirementhelpers.com/money-in-thailands-booming-economy/ https://www.thailandretirementhelpers.com/money-in-thailands-booming-economy/#comments Wed, 09 Nov 2016 00:09:59 +0000 http://www.trh.superfasttests.com/?p=1241 Money in Thailand’s Booming Economy is something of a mystery. Thailand takes a libertarian approach to government, so if you’re a close libertarian, this is the place for you. Taxes are negligible and interference with your life is rare. To paraphrase the song, You can drink all the liquor down in Suphodthika: ain’t nobody’s business […]

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]]> Money in Thailand’s Booming Economy is something of a mystery. Thailand takes a libertarian approach to government, so if you’re a close libertarian, this is the place for you. Taxes are negligible and interference with your life is rare. To paraphrase the song, You can drink all the liquor down in Suphodthika: ain’t nobody’s business if you do. Or, to use the current phrase, Thailand is not a Nanny state. Nobody will stop you speeding on the highway, or acting weird, or dressing in clothes that bend genders, or singing karaoke until three in the morning, or blocking peak hour traffic while you dash into the ATM. Mai pen rai. Do your thing. Yet, for all its laissez faire approach to life, Thailand has a balanced budget, 1% unemployment, and 80% of Thais are satisfied with their government. Just let that sink in for a moment: the US government gets between 9% and 20% support on a good day, yet the Thai government, which hardly taxes anyone, gets 80%?

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:

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]]> https://www.thailandretirementhelpers.com/money-in-thailands-booming-economy/feed/ 3 1241 Consider Retirement in Thailand https://www.thailandretirementhelpers.com/consider-retirement-in-thailand/ https://www.thailandretirementhelpers.com/consider-retirement-in-thailand/#comments Mon, 11 Jul 2016 15:46:55 +0000 http://www.trh.superfasttests.com/?p=5023 Time to consider retirement in Thailand? A personal take By Patrick Meriwhether I have been visiting Thailand as a tourist for over twenty years.  I shall briefly consider whether retirement at fifty is worth it and, if so, why Thailand.   By retirement, I do not mean literally “retiring” from life.  Let’s call it “semi-retirement”. Life at fifty […]

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]]> Time to consider retirement in Thailand? A personal take By Patrick Meriwhether

I have been visiting Thailand as a tourist for over twenty years.  I shall briefly consider whether retirement at fifty is worth it and, if so, why Thailand.   By retirement, I do not mean literally “retiring” from life.  Let’s call it “semi-retirement”.

Life at fifty

Retirement is an opportunity to do what you want and according to when you want.  If you are not doing what you really wish to do at fifty then you are in danger of dying unfulfilled.  Before you think that the average person lives to about seventy-five years in the so-called “developed” world, give a passing thought to those you know who have died early or who have suffered life altering events for the worse before reaching fifty.  My mother’s early death and my own health scares cause me to reflect.

At fifty you can probably expect another fifteen to twenty years of reasonably healthy life.  You cannot take your assets or savings with you after death and, aside of giving some inheritance to family members, you should consider spending some of your capital in doing what you wish; in what is, effectively, the last third of your life.   Do not hold out for longer lasting medical treatments or “miracle drugs” or perpetual life; they are years away and world “unknowns” do not support the idea of sustainable life forever.

Assuming some good health, fifty is old enough to have experience and some capital behind you; and young enough to have some time and opportunity ahead.  So, fifty it is.

By retirement, I mean an opportunity to do what you want.  Getting started is often the hardest bit.  By all means plan ahead – to do otherwise is silly.

Having a partner can help but is not essential.  By the time you are fifty your kids should be nearing self-sufficiency; if not, then (save for “late” mums and dads) it is about time that the kids are.

There are plenty of things to do to keep busy and/or earn income enough to pay some of your expenses after fifty: charity work, teaching, TESOL/TEFL, life-coaching, self-employment, home businesses on-line, long-term travel, ex pat clubs, recreations.  I plan to take a TESOL/TEFL course in Bangkok or Phuket; something to fall back on, subject to visa requirements.  English language skills are in great demand in Asia generally – just visit any college or school and see.

There is no easy answer to how much capital you need to have saved before you retire to Thailand.  Personal circumstances are different; as are life-styles.  Little is to be gained by too much information overload on this point and there are enough financial gurus out there (via a simple google search) to gain an idea about how much one needs to retire.  Some of the ex pat forum website comments can make for amusing financial reading as experienced ex pat commentators bring the “newbies” up to speed.

For what it is worth, I think a minimum US$500,000 is desirable, probably not including the roof over your head or your accommodation costs.  Double that would be good.  Over US$2 million and much more and you are doing nicely.  Under US$500,000 and I think you are cutting it fine but possible.

Big “unknown” costs can include – health, unplanned air travel, interest rates versus inflation and losses on future currency exchange rates.  Look at the recent Euro and Aus. $ volatility.  Road accidents also appear to be quite prevalent in parts of Thailand and motor bikes a particular concern.  Friends tell me if they get seriously sick or injured, they visit private hospitals but try to avoid overnight stays that can be expensive.  I once visited a private hospital in Bangkok for a “skin rash” – blood tests, anti-biotics and a good local doctor cost me about US$200 (all in 2 hours).

Think about health and critical illness insurance but neither come cheap.

If you are sensible, a single person should be able to live on approximately US$2,000 per month in Thailand (including accommodation); a couple a bit more but with some economy of scale to be had.  It can be done cheaper.  However, allow for “events” and some front-loaded costs.  I aim to budget for about US$2,000 per month (including, my rent costs).  I do not drink or smoke, which will help.

Why Thailand

At fifty you can obtain a retirement visa, subject to applicable laws and criteria.  The income and capital requirements are not too strict.   Opening a bank account is relatively straight forward.  Pick your bank wisely (big and/or with a foreign association is generally better) and check your “depositor protection” status and bank charges as a resident foreigner.

Work opportunities will be limited but a good immigration lawyer and/or visa agent can assist; there are plenty on the ground in the big cities.  Godfree’s “Thailand Retirement Helpers” can assist here.

Thailand has a wonderful climate, provided you are not adverse to some heat.  It can rain some but often in predictable daily patterns you can plan around.  You rarely need to worry about more than one layer of clothing.  As a tourist, I normally only pack a few pairs of running shorts, tee-shirts, trainers and travel on the  plane in “smart casual” attire (should I need something to look presentable in, while on holiday).

The culture is friendly, provided you “return” smiles and show respect.

Local food is abundant, inexpensive and generally healthy.  Food costs in many parts of the world will become scarce and more expensive.  Thailand is an enormous rice grower and has a natural food growing climate (like Malaysia, Vietnam, parts of China).   Commodities and food will become even more important.   The next twenty-five years may well see a move back to farming.  It is unlikely Thailand will see major widespread water shortages.

Thailand has a relatively young population compared to many aging countries but one that is generally respectful of age.  Thailand is quite IT savvy but lags (say) Hong Kong and Singapore.

While there are political uncertainties in Thailand, and have been for the last few decades, these do not affect foreign retirees’ quality of life by and large.  I was in Bangkok at the time of some political unrest in 2010 and 2014 and never felt unsafe; in fact, quite the contrary.  Those incidents were (at worse) at times inconvenient.

Indeed, Thailand is by and large a peaceful country and culture.  There is some petty crime and some less pleasant aspects, but they are a fact of most modern life.  In over twenty years of visiting many parts of Thailand, I have never seen any serious crime; the crime I have seen has almost all been night time drink and tourist related.  A more recent phenomenon in Bangkok is foreign scam artists; never invest in these “get rich quick” promises and quietly (and quickly) move on.  When out and about at night generally stay ground floor and avoid “upstairs” and basement joints.

There is much to do in Thailand.  The climate and varied landscape allow this.  Water sports (some of the longest coastal areas in the world), cycling, walking, golf, cookery classes, Buddhist retreats, temple retreats, many martial arts, meditation, many nocturnal activities; the list goes on.  You should not be bored.  I once had ballroom “dance lessons” with a professional dance instructor in Bangkok, who turned out to be a “ladyboy” and a great dancer (and nice with it); for those interested, I still tried to take the lead.  “She” charged Bhat 1000 per hour (just dance lessons).

Some life lessons

My first impressions of Thailand over some twenty years ago were not all good.  However, I came to see Thailand for what it is.  In short, a respectful culture and way of life but with modern amenities and facilities (including healthcare).   Do not underestimate the benefit of a good climate.   If you are single, there is abundant opportunity to meet a partner; just be careful and take your time.  Two rules normally hold true: (i) do not buy into property without first living in the locality and looking around for about a year and (ii) the same goes for finding a partner (business, personal or otherwise).

While you can place trust generally, do your due diligence (and avoid the foreign scam artists).  You will generally win Thailand over by showing respect.

Good luck.     PM

 

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]]> https://www.thailandretirementhelpers.com/consider-retirement-in-thailand/feed/ 6 5023 Making Money In Thailand https://www.thailandretirementhelpers.com/making-money-in-thailand/ https://www.thailandretirementhelpers.com/making-money-in-thailand/#respond Tue, 10 May 2016 04:48:14 +0000 http://www.trh.superfasttests.com/?p=5164 What About Making Money in Thailand? 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 […]

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]]> What About Making Money in Thailand?

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…

Business in Thailand
Business in Thailand

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.

Making Money in Thailand
Making Money in Thailand

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.

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