A Fatal Social Security Mistake
When Benjmain Franklin wrote, “…in this world nothing can be said to be certain, except death and taxes” few could...
Read moreKathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Information Type | Thailand Data |
---|---|
Population | 66,560,000 (November 2019) |
Gross Domestic Product PPP (GDP) | US$540 billion (June 2020) |
GDP Per Capita | US$6,606 (June 2020) |
Inflation Rate | -1.06% (June 2020) |
Currency | Thai Baht (THB) |
Exchange Rate Versus U.S. Dollar | 31.32 baht per U.S. dollar (June 2020) |
Language | Thai, English (secondary language of the elite), Burmese, ethnic and regional dialects |
Capital | Bangkok |
Population of Capital City | BANGKOK (capital) 8.28 million; Samut Prakan 1.327 million (June 2020) |
Time Zone | UTC/GMT +7 hours |
Seasons | Tropical: rainy, warm, cloudy southwest monsoon (mid-May to September); dry, cool northeast monsoon (November to mid-March); southern isthmus always hot and humid |
International Dialing Code | 66 |
Electricity | 220V, 50Hz |
System of Government | Constitutional monarchy administered by military junta |
Current Leader | Prime Minister Prayut Chan-o-cha (since May 22, 2014) |
Income Tax Rate for Residents
| Residents are liable to tax on their worldwide income at progressive rates, from 0% to 37% |
Property Tax | Owner occupied and uninhabited dwellings pay no property tax. Rented properties are taxed 12.5% of the assessed annual rental value of the property. |
Capital Gains Tax | Capital gains are exempt from personal income tax if the shares sold are of a public company registered on the stock exchange of Thailand. Otherwise, gains are subject to the normal progressive personal income tax rates. |
Inheritance Tax | no |
Rental Income Tax | progressive rates from 10% to 37% |
Transfer Tax | 0.10% |
Sales Tax | 7% |
Restrictions on Foreign Ownership of Property | Thailand law generally prohibits foreigners from owning freehold land in Thailand |
Local Chamber of Commerce | Thai Chamber of Commerce |
Primary Exports | Electronics, computer parts, automobiles and parts, electrical appliances, machinery and equipment, textiles and footwear, fishery products, rice and rubber |
Residency and Visa Requirements | Citizens of 48 countries (U.S. included) entering Thailand by air will be granted a 30 day stay. If such foreigners enter at the immigration checkpoints which border neighboring countries, they will be allowed to stay for 15 days each time |
Special Benefits for Foreign Residents or Retirees | Obtaining a Permanent Residence Permit also known as Residence Visa/Permanent Visa will allow you to stay in Thailand permanently without the need for a Visa. Thailand offers several residency visa options. Retirees typically want the non-immigrant “O-A” (long-stay) visa. |
National Airline | Thai Airways |
Start Your New Life Today, Overseas
When Benjmain Franklin wrote, “…in this world nothing can be said to be certain, except death and taxes” few could...
Read moreWhen Benjmain Franklin wrote, “…in this world nothing can be said to be certain, except death and taxes” few could...
Read moreWhen Benjmain Franklin wrote, “…in this world nothing can be said to be certain, except death and taxes” few could...
Read moreI first visited Chiang Mai in 2002, and it was sleepy beyond imagination. "I'm not old enough to live in Chiang Mai," was what I said back then. The frenetic city life in Bangkok still had me under its spell. The half-speed pace of the northern capital was just too slow. Nearly two decades later, it seems Chiang Mai and I have met in the middle. I've slowed down to a respectable pace for a 50-something and Chiang Mai has...
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