This post is also available in:
Français
What is TAX free retirement in Thailand?
After living in Thailand for six months, you will be required to pay income taxes on both domestic and international income, even if you do not have a work visa. It is recommended to work with a tax accountant to file your taxes since everything is in Thai.
However, Thailand has agreements with several other countries to prevent double taxation on income. Income earned inside Thailand during retirement is the only income subject to tax, while personal income from pension, interest, or other income sources in your home country is not subject to income tax in Thailand.
This creates a 100% tax-free retirement in Thailand. If you have rental property within Thailand that generates income, you will be taxed on that income. Thai personal income tax is significantly lower compared to Western countries, with no income tax on the first THB 150,000. Note that this does not apply to retirees who bring in income from abroad.
Is it Safe to Buy Property in Thailand?
Regardless of what we are purchasing, we all desire a good deal with high returns, low cost, and minimal risk. Thailand boasts rather strong property ownership laws and security, especially when compared to other places in the region, so there shouldn’t be any issues with the government.
Any issues that arise will likely come from the development company, real estate agent, or seller. We strongly recommend purchasing property in Thailand from a property developer with a solid reputation and at least one or two completed projects built to high standards with satisfied customers. Developers of this kind typically don’t pose major issues.
It’s also recommended to hire a third-party inspector once the property is built and ready to be transferred. It’s rare for a completed house to be transferred in perfect condition without any problems at all.
Inspectors know what to look for and can add far more value than their services cost. If defects are found, the property developer will fix them free of charge. Most developers offer a warranty period of at least one or two years. However, they are more likely to fix problems if they are brought up before the transfer occurs and the deal is finalized.
This post is also available in:
Français
I went to the Tax office in Chiang Mai (Nong Hoy). The Lady there showed me on her computer that: Swiss Citizens who live on Swiss government social security o n l y are tax-exempt.
I went to the Tax office in Chiang Mai (Nong Hoy). The Lady there showed me on her computer that: Swiss Citizens who live on Swiss goverment social security o n l y are tax exempt.
Yah this is confusing site…this is the issue so many think they don’t have to pay tax’s on pensions they transfer money from another country into a Thai bank..then I read you pay tax on any money you transfer into a Thai account. I too am taxed already on my pensions from Canada that are deposited into my Canadian bank Account. I use Wise to transfer to Thai bank some of the money, not al and I read I have to pay tax on it..assuming then I would file my Canadian taxes after filing Thai tax as Thai is end of March and Canada is ended of April, then claim that I paid tax in Thailand…which I’m not sure about that either.
Quote from your Website:
“Income earned inside Thailand during retirement is the only income subject to tax, while personal income from pension, interest, or other income sources in your home country is not subject to income tax in Thailand.
This creates a 100% tax-free retirement in Thailand.”
Could you please confirm whether this is true. I have a Thai retirement visa and withdraw a regular pension from my personal retirement fund in Australia. I have been advised that if I bring these monies into Thailand it is subject to tax.
I look forward to a response. Thank you.
The UK government state tax is payable on State PENSION if you’re bank transfer it to Thailand.
Yes pension is taxed plus income any money you transfer to Thailand ..The first 15000 is excempt
Thank you for your input William !