Several neighbouring countries compete with Thailand for foreign retirees

[Woke to Sounds of Horking]

13 hours ago, Yagoda said:

Cambodia is Siem only, no other place is liveable except maybe Battambang. Phnom and Snookyville are total sh#tholes to be avoided.

I understand Sihanoukville was destroyed by the Chinese backed casinos, but wat about Kampot? At least there's some water n mountains nearby.

 

That said - there's an alarming lack of green space in Cambodia in general.

[gearbox]

15 hours ago, JimTripper said:

I rented a mountain bike in town ($5 I think) and just biked up that long road to the temples, got a ticket at the enterance and biked around. No guide, and was alone most of the time. The guides typically take you only to the main temple route. I also got some exercise which was nice instead of being driven everywhere.

The prices have gone up. I did the same with a normal bicycle, the rental was $1 per day.

[gearbox]

2 hours ago, Woke to Sounds of Horking said:

I understand Sihanoukville was destroyed by the Chinese backed casinos, but wat about Kampot? At least there's some water n mountains nearby.

 

That said - there's an alarming lack of green space in Cambodia in general.

Sihanoukville was not destroyed, it was rebuilt, and now has a motorway connection to Phnom Penh. The prices went way up and the low class scum staying there was priced out. I believe  the islands so far are not touched yet, but I've heard there would be an airport on Koh Rong. Seems that Kep is the next in line for development.

[JimTripper]

34 minutes ago, gearbox said:

The prices have gone up. I did the same with a normal bicycle, the rental was $1 per day.

I got a top end bike. I don't like cheap bikes. I would also pay 75 cents for a beer instead of the usual 50 cents if I liked the place.

Edited August 23 by JimTripper

[Neurath]

On 8/21/2024 at 5:14 PM, spidermike007 said:

I think the reality is that they don't really want us here, I think they tolerate us, but they don't really want us here. After all we influence some of their women into asking questions, having open minds, and creative thinking! None of those are a good thing for a regressive regime. 

 

I think most Thai people are fine with us and don't have a problem with us it's the politicians and the incredibly toxic government that are xenophobic. 

Influencing folks to be questioning, into having open minds and creative thinking? Is that your experience from AN posters? We're all such good examples of this after all!

[ravip]

On 8/21/2024 at 3:27 AM, hotchilli said:

A retiree wanting to leave their native homeland and settle for good in another country will be looking for somewhere safe, a reasonable climate and above all else security for the their finances.

Also medical care at affordable prices

Thailand is falling short on all these issues.

 

Thailand is falling short on all these issues.

 

OR...

Is it that Thailand is introducing a control on the influx of foreigners coming in?

They will bring in the much needed money, sure. But, after a certain percentage, the country will be unsuitable for the locals, and then chaos starts.

 

A very good example is the number of foreigners whimpering here-in at AN. They are unhappy where they were born, and now they are unhappy in their newly chosen 'paradise'.

 

If one look around, many countries have numerous issues due to immigrants and the locals lifestyle have deteriorated due to that.

[spidermike007]

47 minutes ago, Neurath said:

Influencing folks to be questioning, into having open minds and creative thinking? Is that your experience from AN posters? We're all such good examples of this after all!

Well without going into a very deep dive type analysis of and posters on this forum, the reality is that most Thais are not introspective. The entire educational process that they're subjected to denies the possibility of curiosity, and suppresses the desire to question things, and what you end up with is an infinitely less curious person than what you would have had.

 

I know when I was going to school it was perfectly natural and perfectly acceptable to ask my teachers questions, and to even question the nature of the lessons I was being given, especially when it came to higher education. From what I understand that's just not the case here. So I think it's actually a very healthy thing for us to encourage our women to question things, question the system, question what they've been taught, question the nature of tradition and tribalism, and just question the nature of life. Introspection is a wonderful quality, and questioning things is is a great way to live your life. Why should we accept things at face value? 

 

Of course the elites and the authorities, and some in very powerful positions would consider this dangerous thinking, and this is exactly why I think it's a wonderful thing for a Thai woman to be exposed to. Without sounding overly important as an expat, I think it's one of the many things that we bring to the table here. 

 

 

[Presnock]

On 8/21/2024 at 9:30 AM, Drumbuie said:

 Most of you are from countries which have with DTAs with Thailand  -have you actually bothered to work out and compare the tax figures for your income?  I did, and I'll be better off paying tax here than being tax resident in the UK. 

Also it feels right to contribute to the general good ( no pun intended) of the country I live in, whose roads I drive on, whose electricity I use, whose people grow, sell and cook the food I eat, whose schools educated the doctor I see, etc etc

 

Always good to look beyond yourself at the bigger picture. 

 

After taking advantage of the different options provided by AN users here I checked out my status re taxation and know that I am protected by the LTR and by the DTA agreement with the US.  As an American I have always paid my taxes on all income every year.  Guess a lot more countries are going to start that same process or find other ways to make everyone pay tax somewhere to a country as they tell us up front that is the purpose of the FACTA CRS OECD programs.  I also hear that some countries opted for world wide taxation but then slid away from it a bit.  We'll see if the new govt here will continue in that direction.

[JimTripper]

49 minutes ago, ravip said:

Thailand is falling short on all these issues.

 

OR...

Is it that Thailand is introducing a control on the influx of foreigners coming in?

They will bring in the much needed money, sure. But, after a certain percentage, the country will be unsuitable for the locals, and then chaos starts.

 

A very good example is the number of foreigners whimpering here-in at AN. They are unhappy where they were born, and now they are unhappy in their newly chosen 'paradise'.

 

If one look around, many countries have numerous issues due to immigrants and the locals lifestyle have deteriorated due to that.

I hardly complained at all when I lived back in the Usa. I kind of just understand things there better. If there is a problem, I know why it's a problem. The way things were. Probably the same with Thai's who don't complain here.

Edited August 23 by JimTripper

[Neurath]

10 minutes ago, spidermike007 said:

Well without going into a very deep dive type analysis of and posters on this forum, the reality is that most Thais are not introspective. The entire educational process that they're subjected to denies the possibility of curiosity, and suppresses the desire to question things, and what you end up with is an infinitely less curious person than what you would have had.

 

I know when I was going to school it was perfectly natural and perfectly acceptable to ask my teachers questions, and to even question the nature of the lessons I was being given, especially when it came to higher education. From what I understand that's just not the case here. So I think it's actually a very healthy thing for us to encourage our women to question things, question the system, question what they've been taught, question the nature of tradition and tribalism, and just question the nature of life. Introspection is a wonderful quality, and questioning things is is a great way to live your life. Why should we accept things at face value? 

 

Of course the elites and the authorities, and some in very powerful positions would consider this dangerous thinking, and this is exactly why I think it's a wonderful thing for a Thai woman to be exposed to. Without sounding overly important as an expat, I think it's one of the many things that we bring to the table here. 

 

 

What a considered and thoughtful reply .... with useful and interesting information. I retract my snark and enjoy my read. Thank you.

[hotchilli]

53 minutes ago, ravip said:

Thailand is falling short on all these issues.

 

OR...

Is it that Thailand is introducing a control on the influx of foreigners coming in?

They will bring in the much needed money, sure. But, after a certain percentage, the country will be unsuitable for the locals, and then chaos starts.

 

A very good example is the number of foreigners whimpering here-in at AN. They are unhappy where they were born, and now they are unhappy in their newly chosen 'paradise'.

 

If one look around, many countries have numerous issues due to immigrants and the locals lifestyle have deteriorated due to that.

Agreed... Europe and USA as a case in point... 

[Yumthai]

1 hour ago, Presnock said:

Guess a lot more countries are going to start that same process or find other ways to make everyone pay tax somewhere to a country as they tell us up front that is the purpose of the FACTA CRS OECD programs. 

They can try but achieving it is another matter. There will always be tax heavens or tax loopholes around the globe, the most wealthy being the first ones who benefit from it.

[Presnock]

14 hours ago, Yumthai said:

They can try but achieving it is another matter. There will always be tax heavens or tax loopholes around the globe, the most wealthy being the first ones who benefit from it.

 

14 hours ago, Yumthai said:

They can try but achieving it is another matter. There will always be tax heavens or tax loopholes around the globe, the most wealthy being the first ones who benefit from it.

And, the Rich and powerful also determine in many elections, the candidates that they want to give them even more benefits in laws and taxes.  The US is in my opinion guilty of this - just look at Trump, he gave big business a tax break before and he is promising them again a big break.  He is cutting out the middle class entirely and blaming the problems on them.  I have paid taxes since I began receiving any income except during my years in VN as a teenager.  I don't mind paying those taxes as the money for government and programs of all kinds must have tax money.  I do not however believe in double taxation but I also not believe in tax avoidance illegally.  I realize by moving constantly every year one can avoid becoming a tax resident - those that have not been paying is one of the main reasons for all the new laws via OECD, FACTA and CRS regulations.  Any complaints should be directed at those who claim they pay no taxes nor will they pay any in the future.  Laws of all kinds will continue to be altered seeking out those managing to escape.  Best of luck to all

[MartinBangkok]

On 8/21/2024 at 4:27 PM, Flyguy330 said:

Nice idea, but if you never establish Tax Residence in one of those countries (and maintain it) you will probably be declared Tax Resident in your home country and taxed there instead. They've got us every way guys - you cannot become a global tax exile on planet earth. All you can do is find the cheapest legal option.

For me - I established Tax Residency in Malaysia, and only need do 90 days per year there to maintain it. The rest of the time I can be nomadic and untaxed.

Good plan for yachties too.

"They've got us every way guys - you cannot become a global tax exile on planet earth. All you can do is find the cheapest legal option."

 

You are so wrong Flyguy. You clearly haven't got a clue.

[aussienam]

On 8/21/2024 at 7:37 AM, new2here said:

 

I agree that Thailands direction relative to what I’d call a “value proposition” for retirees is becoming less and less valuable … but… like it is with tourism.. rightly or wrongly.. thailand has had - for a long time - a near teflon coating .. and while they may implement X or Y rules that are clearly a net negative for a retirees, there’s STILL a large number who come.. so… i’d argue, so long as that trend doesn’t stop, there’s simply no incentive for Thailand to make it better…there will still be X thousands who come each year ….  plus, another point, retirees don’t vote.. and from a political ends, hitting a non-vote eligible segment of the people is a safer way to extract revenue than a voting segment. 

 

Short sighted? perhaps.. but again, it’s one that seems to have worked for Thailand for quite some time .. therefore I’d argue there’s no impending incentive for them to loosen up or change the rules in favor of a non-citizen. 

Unfortunately I think you are right.  But for many current expats, a sudden 15% (ballpark average) increase in cost of living (or alternatively a 15% decrease in spending ability), will not sit well at all for many.  I would be interested in how much influence on the property market expats have?  Most likely buy a place long into their settlement in Thailand, so would be already tax residents for tax revenue purposes.  Now there is a massive disincentive.  A massive upfront 'capital loss' equivalent.  

 

Are foreign investments into the property market by mainly non-residents overall?  

 

Again, I ask, what is the benefit for expats now?  Zero.  The same overpricing in hospitals, attractions, foreign titled properties, etc.  We still can't open a business easily and severely restricted work-wise or outright banned.  

 

Where will the tax money go?  Submarines, fighter planes, and who knows where else.  Thailand has in one foul swoop just made living here significantly more expensive, less attractive, more hostile, more bureaucratic, stressful for expats with tax management and accountants, documents etc.  

 

Thailand, a developing nation acting like a first world one with this tax implementation, without any benefits.  

 

Maybe it will cause a purge for those of us who won't accept this and eventually a new breed of expats will come in instead.  But places like the Philippines may well significantly benefit as a preferred expat-friendly, tax-friendly choice and help property up their struggling economy instead.  Plenty of poor people i could help over there.  I won't be paying charity to Thailand anymore I am sad to say if Thai government taxes my donation money. 

 

Sorry to those foundations who will lose out.  But your 'caring' Thai government can support you instead with the tax revenue collected (not). Really sorry.  

 

Sorry to the poor families in Issan and other rural areas of Thailand who will no longer be supported. 

 

Sorry to the many relationships that will dissolve as expat budgets - too stretched with the tax, won't be able to afford taking care of their loved ones.  Relationships just got a hell of a lot more expensive.  

 

Some may consider the 'gifting allowance as a loophole by sending money to their partner, which there is a tax exemption for.  It is stipulated if it is found out that you are in any way using that as way to evade tax, there are penalties. 

And, I can see some expats seeing this as a possible way out, may choose questionable Thai partners who will scam them out of a large sum.  Beware.  

 

I love Thailand but it seems it is likely time to soon say goodbye.  My retirement here no longer is what I considered attractive. I will wait and see how it all pans out next year.  I have brought in minimal amount of money this year and spending very frugally. I was going to buy a car but not now. A permanent home is out of the question now.  

 

That's my 5 Baht worth.  Likely falling of deaf ears.  

[aussienam]

On 8/21/2024 at 9:29 AM, Presnock said:

I personally like the LTR from the BOI.  They cut the cost of the 10-year visa in half.  4 different catergories with wealthy pensioner perfect for me meaning not taxes on any funds remitted to Thailand.  The 1-year notification of address can be done by an agent or if you leave the country before the year is up, when you return the 1-year to notify your address starts starts from day one.  The visa has to be updated on the 5th year to ensure one still meets the necessary criteria.  I formerly had a non-imm O for 20 years.  It did get easier doing the 1-year renewal but with the LTR, papework is much less and easier to provide.  Now we await changes as TIT and we have a new govt replacing the new govt we had who replaced the actual winner of the election.  Who knows if this new govt, if it lasts, will continue shooting for the worldwide income taxation or slowly let this current one fade away.  Either way, I am not planning on leaving.  I still love it here but it would be nice to have some stability.  But then what would happen to this forum? 

You are in a low percentage category.  Most of us 'lowlifes' cannot afford the LTR visa.  Only the 'elites' such as yourself can afford it.  So because we are poorer we have to pay tax.  Wow, so fair - NOT.

I thought the whole idea was to reign in taxes of wealthy people bringing in money offshore into Thailand tax free.  So what has changed for wealthy expats bringing in money tax free?  Um....... nothing.  Just get an LTR visa and all is good.  Like is often said, the wealthy don't pay tax, it's for the poor.

Always tax loopholes for the rich.

Edited August 25 by aussienam

[aussienam]

On 8/21/2024 at 12:07 PM, newnative said:

     I've been here since 2010.  In those 14 years, the only change was the requirement for health insurance with my type of visa.  You can get around this with a different visa type.   My country, USA, has a DTA with Thailand so I don't expect to pay any taxes, if the whole tax thing even ever gets off the ground.

     One improvement made was on-line 90-day reporting.   This means only one visit to Immigration a year for the annual renewal.   It would be nice if 90-day was eliminated altogether but, still, not bad.  Looking at neighboring countries, Thailand still seems like a good choice for expats, especially when things like health care and housing variety are factored in.  

This is where your own confirmation bias creeps in.  Because the Thai tax laws won't affect 'me' mantra therefore everyone else shouldn't be complaining.  You are lucky your country has protective DTA arrangements to forbid tax on your social security.

 

Plenty of us with very different pension schemes that are paying no more than a US Social Security pension, but are not government taxed in host country and not protected by some clause in our DTA - hence fully open to being taxed by Thailand. Australians are screwed. 

 

And health care?  Triple tiered pricing.  I am no longer able to be covered by insurance for pre-existing conditions that I will need ongoing treatments.  I need to be self-insured and face unfair pricing where I would pay farang prices from money I remit in taxed at 20% (in my case) if I were to bring in all my pension.  When you don't have insurance, hospital admission costs can be financially ruinous with the farang pricing system endorsed by the government and the courts. 

 

Housing? Paying for a property you now face remittance tax on funds brought in from abroad that potentially add up to 35% more on to the sales price.  Affordable?  You've just made a huge capital loss. Dumbest investment ever.  Nope.  Sorry.  

 

Rent.  Okay yes. Affordable.  Even if adding another 15-20% tax on pension money sent in to pay the rent.  But as you can see -.just because something doesn't affect you, doesn't mean it's therefore great for everyone. 

 

 

[aussienam]

On 8/21/2024 at 1:26 PM, tomacht8 said:

I know a few people who have stopped or are at least reconsidering their plans to retire in Thailand. Almost everyone has planned to sell their fully paid-up home and transfer the money to Thailand in order to live comfortably along with their regular pension. A single-family home in a big city, in a good location, can be sold for 500K Euros or around 20 million Thai baht. Anyone who then transfers these 20 million THB to Thailand in the hope of enjoying a peaceful retirement runs the risk of having to pay up to 35% in taxes. That would be around 7 million Thai baht or 185K Euros. Nobody who can do math will do that. Therefore, Thailand will lose a large piece of the pie of well-off pensioners in the future.

You would have to have rocks in your head to buy a property in Thailand now unless you are a non-resident or you can prove via certified documents, accountants and tax returns in both countries etc, that the money used to purchase the property was taxed in your country.  Even then, with enforcing this tax, who knows if they will go further and tax worldwide next?  And what else?  I am sorry but Thailand has become a massive risk financially now.  Definitely not worth the dramas, uncertainty and potential future taxes and other changes enforced onto expats who want to stay.  What's next?  

[JimTripper]

12 minutes ago, aussienam said:

You would have to have rocks in your head to buy a property in Thailand now unless you are a non-resident or you can prove via certified documents, accountants and tax returns in both countries etc, that the money used to purchase the property was taxed in your country.  Even then, with enforcing this tax, who knows if they will go further and tax worldwide next?  And what else?  I am sorry but Thailand has become a massive risk financially now.  Definitely not worth the dramas, uncertainty and potential future taxes and other changes enforced onto expats who want to stay.  What's next?  

Right, if you don't/can't pay they can take the property I assume. Who knows if someone would get the difference back or how long that would take. Same with bank accounts, the entire account could be frozen while they diddle around figuring exactly how much is owed.

Edited August 25 by JimTripper

[aussienam]

On 8/21/2024 at 2:07 PM, tomacht8 said:

This can be tricky. Thailand already wants to have the tax return for 2024 by March 31, 2025. In my home country I normally have time until May 31, 2025 (with a tax advisor even until December 31, 2025). Who can collect my tax money first and in which direction the DTA will go with the crediting of tax credits? A mammoth, bureaucratic paperwork that no taxpayer wants. Thailand has lost this year from me, around 2-3 million THB in capital imports and domestic consumption alone. No new car, no new refrigerator and no new addition/ maintenance to the house.

100% agreed.

 

For Aussies: Australian tax year ends 30 June then new tax year from 1 July. So when tax time comes for Thailand, it's half-way through our tax year in Oz.  I don't prepay tax normally and only when return is lodged.  I have until 15 May next year via my accountant.  Not paying tax upfront means I make money on interest until my tax assessment is made.  Now, with the Thai tax enforcement, I would have to pre-pay tax in Australia (to my detriment financially in lost interest at 5.1% and up to 8%), plus pay an accountant to work out a half-year assessment solely for Thailand.  What a f$%$&ng nightmare and costly.  Plus tax accountant fees, certification fees of documents (maybe notarising as well) and maybe a translator for the revenue office.  

 

Yep, is making it more of a complete nightmare to stay here.  

[In Full Agreement]

 

I'll be happy to go to the highest bidder as long as they meet the lowest minimum bid.

 

 

[aussienam]

On 8/21/2024 at 3:26 PM, Fairynuff said:

Over the (long) period of time I’ve been living here I’ve seen the visa rules change a million times and almost never to make things easier. When every IO has the power to interpret the rules THEIR way instead of following fixed rules, the end result will always be that your status here is precarious. I accepted that long ago, I accepted too that the “powers” don’t really want us here. I spend my money as much as possible with small businesses where I’m sure I’m benefiting “real” people and I’m most likely to be appreciated.

If Thailand wants to compete it has a long way to go but I think the national arrogance will prevent that from happening. The next big issue for me is taxation. I’ve already started bringing cash back with me on regular trips back home. I will not pay tax on inward transfers, I’ll just spend less time here and my plans are already well underway. I’ll just tell Thailand “ I’m not care you”. I’m sure everyone of us has had that little nugget hurled at us more than once.

Be careful.  Firstly, bringing cash via the airport: security will pick that up on the xray scanner.  They may make a record of the amount and that is forwarded to revenue office of an incoming remittance.  I dare say Revenue Office is aware that foreigners will  try to remit money secretly to avoid tax.  

Even if the amount is below the 'declarable' amount, I wouldn't be surprised if the amount is recorded anyway.  Depends how harsh the implementation is.  All it takes is a directive.  

And secondly, exchanging that money.  If you do it yourself (like most of us do), then you need to give your passport.  Guess where that exchange amount may up being recorded? 

Giving it to your 'teerak' to exchange, be careful as she will have her ID details recorded.  If you are on a spouse visa they may join the dots.  

 

Yes, spending less time in Thailand will now be a part of expat living here.  No longer a full-time lifestyle.  It is a hassle for many of us who have bought so many things - white goods, motorbikes, cars, furniture, TVs, etc.  

I am still in my 50s early medical retired, but wanted a place to settle and heal and live out my life in bloody peace.  But my income setup via my private tax-free superanniation pension in Australia means I am royally screwed at an ultimate 20% tax charged on my spending money.  

If I were to choose to stay, it would be deliberate frugal living to keep the taxes as low as possible and forgo any relationships due not ultimately providing her support financially (most often the case).  How awful that would be?  Better to sell off everything I have accumulated here and relocate elsewhere.  I am so devastated and sad.  But this is the way it probably is.  

And for many of us, having a home base in our country is no longer the case and no family members to rely on. 

 

And I don't want to be a transient nomad living here and there with some desperate attempt to have at least under 6 months in Thailand.  Can never grow a relationship and make long term friends and feel part of a community. So if Thailand truly go ahead next year, me and many other Aussie pensioners really need to move elsewhere.  And that goes for other nationalities and people with income and remittance setups that aren't taxed.  

 

My rental property in Australia, which I will sell, will provide me capital gains. Half of that is untaxed in Australia.  So bringing that into Thailand would be incredibly stupid unless I was a non tax-resident.  But who wants to bring in large sums of money into Thailand as a non-tax resident, when Thai bank interest is practically zero percent?  What a huge waste of potential interest income lost from dumping it in a Thai bank. 

But, it is a workaround/loophole for now.

 

But who is to say that Thailand government won't see what is happening and decide to implement a 'wealth tax' on large deposits!!  Who knows?  

My philosophy has always been to keep the lion's share of my money in Australia and only bring over what I need in portions.  Plus the bank guarantees in Australia and more robust economy, citizen protections, better legal coverage. Anything can happen in Thailand.  

 

[aussienam]

1 hour ago, JimTripper said:

Right, if you don't/can't pay they can take the property I assume. Who knows if someone would get the difference back or how long that would take. Same with bank accounts, the entire account could be frozen while they diddle around figuring exactly how much is owed.

I am sure the Thai Revenue Office have the power to make a garnishment order to freeze bank accounts, assets etc.  Probably via a court order. Then you could be forced to relinquish bank funds or have your assets forced sale to pay taxes owed.  Similar to other countries.

[saakura]

On 8/21/2024 at 4:57 AM, hotchilli said:

A retiree wanting to leave their native homeland and settle for good in another country will be looking for somewhere safe, a reasonable climate and above all else security for the their finances.

Also medical care at affordable prices

Thailand is falling short on all these issues.

 

But Thailand seems to have a big advantage on one of the things that single elderly western retirees like.

[david555]

Anyway the realestate rental guys shall have to be happy with 6 month' contract's instead of 1 year rent contracts if more go only stay just UNDER the 6 moth's Thailand stay and hop over to neighboring  countrys as example Cambodia to avoid taxing & tax doc. hassle

 

Changing times once more in Thailand 

Edited August 25 by david555

[aussienam]

24 minutes ago, david555 said:

Anyway the realestate rental guys shall have to be happy with 6 month' contract's instead of 1 year rent contracts if more go only stay just UNDER the 6 moth's Thailand stay and hop over to neighboring  countrys as example Cambodia to avoid taxing & tax doc. hassle

 

Changing times once more in Thailand 

Can you imagine how many expats on 6 month contracts are going to be screwed over with losing their bond/deposit money. Landlords will know you have to leave before a due date and will deliberately delay/deny refunding the money as you can't stay or become a tax-resident. 

 

It is already a common issue to lose deposits here in Thailand with unscrupulous landlords.  But you have at least a fighting chance if you are permanent and you have had time to sus out a decent place.  

 

I can see this will become a new way to fleece the '6-month' temporary expats.  It can take a few weeks to find a decent place too, so leaving before 6 months will break a lease contract anyway and they could be entitled to keep the deposit. Better to have 4 or 5 month leases.  This whole thing sux. 

 

And Real Estate agents will have to also be happy with a lot less properties being bought.  A lot more expats will not be buying properties.  And all those condos under development now, who is going to buy them?  A lot of off-the-plan projects need money to finish construction. I envisage bankruptcies, a property crash and people who have bought off-the-plan, losing their deposits/money in full.  Madness to buy a property now. 

Edited August 25 by aussienam

[david555]

5 minutes ago, aussienam said:

Can you imagine how many expats on 6 month contracts are going to be screwed over with losing their bond/deposit money. Landlords will know you have to leave before a due date and will deliberately delay/deny refunding the money as you can't stay or become a tax-resident. 

 

It is already a common issue to lose deposits here in Thailand with unscrupulous landlords.  But you have at least a fighting chance if you are permanent and you have had time to sus out a decent place.  

 

I can see this will become a new way to fleece the '6-month' temporary expats.  It can take a few weeks to find a decent place too, so leaving before 6 months will break a lease contract anyway and they could be entitled to keep the deposit. Better to have 4 or 5 month leases.  This whole thing sux. 

many renters shall not pay the last month probably,  to try to avoid that deposit scam  ......or make conditions with the landlord upfront with them

 

And as it can become a general problem it shall not be for 1 only individual so i guess some adjustments shall become on that matter , as it could inflict the selling and renting business in a whole , as the buying money could become EXTRA  because that taxing .....

 

Edited August 25 by david555

[JimTripper]

4 hours ago, saakura said:

But Thailand seems to have a big advantage on one of the things that single elderly western retirees like.

Not when you get older. It's less of an issue. 😀

[Ricardo99]

On 8/21/2024 at 9:57 AM, hotchilli said:

A retiree wanting to leave their native homeland and settle for good in another country will be looking for somewhere safe, a reasonable climate and above all else security for the their finances.

Also medical care at affordable prices

Thailand is falling short on all these issues.

 

Philippines is better and cheaper choice plus if your bothered about security Davao City is consider the one of the safestest in SE Asia (if you behave yourself 9.

[chiang mai]

1 hour ago, Ricardo99 said:

Philippines is better and cheaper choice plus if your bothered about security Davao City is consider the one of the safestest in SE Asia (if you behave yourself 9.

I like the PI but I'd never live there, the beaches are massively better. Number one reason is the medical facilities are very poor, number two the PI is right in the middle of hurricane alley and it gets hit badly almost every year.  A third reason is the infrastructure is poor, getting around from A to B is time consuming, unreliable and uncomfortable. Final reason is the food which must be some of SE Asia's worst. All those things said, the people are often much nicer and communication is often easier.