Settle to Thailand

 Settle to Thailand

Easier said than done. Many have tried, and many of them have failed.

You need a decent monthly income over and above anything you hope to earn in Thailand (I would reckon about 50,000 baht minimum). If you don’t speak Thai reasonably well (and most expats don’t speak Thai at all) then your best chance of work is in education (e.g. state, international or private schools). Your employer will assist with visa and provide work permit.

If you are a young(ish) highly qualified and experience professional (e.g. lawyer or accountant) then there are an increasing number of international firms that might employ you in their Bangkok offices. I know several such Westerners who earn lots of money and live very well indeed in Thailand. But these are well qualified professionals.

Don’t attempt to retire to Thailand on less than 50k baht a month and forget about trying to retire here with only a state pension coming in.

Some do’s and don’ts:

1. Be careful with your expenditure. Budget like Scrooge.
2. Stay out of the bars and away from the bar girls: bad for your health and bad for your wallet. And if you cannot keep away then make it an occasional ‘breather’ only.
3. Don’t overdo the alcohol and keep well away from drugs.
4. Get yourself a one-year Multi-entry Non-immigrant Visa at your local immigration office. Easy to renew though you’ll have to report every 90 days. (form TM7)
5. Don’t go into business with any Thais. Not that they are necessarily dishonest but business ventures are highly risky in Thailand and an easy way for a naive and culturally-inexperienced Westerner to lose money. As many can testify.
6. If you decide to buy a house you’ll have to do so either through a Thai company which you’ll need to set up or with your Thai wife. She’ll own it. You cannot own a house outright as an expat. Which is why most expats rent or buy condominiums - which you can own.
7. Related to point 6, be careful who you marry (assuming you are straight). Thai women are so beguiling but if you marry one then for your long term security and ability to survive in Thailand, it is best to select a woman who is middle class, university educated, speaks English, has a professional job, doesn’t need your money to survive, and has property of her own.
8. You’ll need a Thai bank account once you have a permanent residence. I recommend Kasikorn Bank. Good online access and reliable. (Avoid Bangkok Bank as they no longer offer Visa debit cards). Note that money transfers are expensive with all Thai banks. Avoid using ATMs to access cash from any overseas bank accounts you may decide to retain. Cost is now at 220 baht each transaction.
9. You will need transport. And it will either be a car (if you have the money) or a scooter (if you don’t). Cars are expensive in Thailand so reckon on 600,000 baht minimum for anything new. Scooters are cheap but deadly. Don’t bother unless you have a motorbike licence from your home country and have riding experience. (The WHO estimates 24,000 deaths a YEAR on the Thai roads, so be warned). Always wear a helmet. Come out here with an international driver’s licence and then get yourself a Thai driving licence.
10. Take out health insurance. Thailand has some of the best private hospitals in the world and while they are not overly expensive they are not free either.
11. Thai internet is excellent. So easy to keep connected to family and friends back home. Stay in touch. It is important. Because many Western expats eventually find themselves alone and broke in Thailand. The suicide rate among such individuals is very high. There are regular reports of jumpers out of Pattaya condominiums.
12. Link up with other expats. While I have my own small circle of Western expat friends I tend to use Thai Visa Thailand Visa Forum by Thai Visa | The Nation to get the ‘local news and gossip’ in English.
13. At least for the first few years you won’t be able to get a loan from a Thai bank (though your wife may be able to) so any car, for example, will have to be paid for by cash.
14. And talking of cash, to get your Non-Immigrant Retirement Visa (12 months, renewable) you’ll need to deposit 800,000 baht in a Thai bank account and leave it there, or be able to show 65,000 baht a month going into a Thai bank account for the year before you apply for the visa. For a Non-Immigrant Thai Marriage Visa you’ll need to be putting 40k baht a month in a Thai bank account or have 400,000 baht in a Thai bank account. Western embassies in Thailand are no longer issuing income verification letters so you’ll need the Thai bank statements.
15. Finally, Thailand is big country, so you need to decide where to live. I live in Chiang Mai as it is one of the best cities on earth, but don’t tell everyone as we CM expats don’t want hoards of you coming here. We have enough with the Chinese tourists. Bangkok has its own unique buzz and if you are young, fit, monied and free then it could be paradise for you. If you like the beach, then Hua Hin or Krabi. Personally, I would never live in Phuket or Pattaya. Koh Samui has lots to offer but it doesn’t appeal to me. If you really want to ‘get away from it all and live the rustic Thai life’ then most anywhere in Isaan, anywhere around Nakhon Sawan/Phitsanoluk/Kanchanaburi, or far north in the Chiang Rai/Mae Hong Son provinces.

It may all sound rather complicated, and it can be, but if you get it right, watch the money, behave yourself and stay lucky, then you’ll be living the dream.