Retirement in Thailand

It’s an ideal destination for retirees in search of a peaceful retreat. The tax system, standard of living and real estate are well suited to a French senior citizen. More specifically, why is this an attractive option? Zoom in on the highlights of this magnificent country.

Cost of living in Thailand

The cost of living in Thailand is very attractive for French retirees. Thailand is known for its low-cost lifestyle. If you want to drop your suitcase in a country where you can lead a life like no other, this is the place to be. To illustrate, a Thai earns around €350 a month. This enables him to make a decent living. Thais considered rich by locals spend €1,000 a month. Their lifestyle is similar to that of Europeans. If you want to lead a quiet, peaceful life, €1,500 a month for a single person or €2,500 for a couple will be more than enough. This is the minimum budget of €1,500/month that the local authorities will require from you to obtain a Retirement VISA.

Finding a home in Thailand

The easiest way is to rent a house. Across the country, offers are legion. You can approach rental agencies, consult local newspapers or scour the Internet to find what you’re looking for. You can even take advantage of attractive services such as a swimming pool, maid service and gym at no extra cost. In most cases, 2 months’ deposit and 1 month’s rent will be required for a “classic” home, and 1 month’s deposit for a “condominium”. The other, more expensive, option is to buy a property. Please note, however, that as a foreigner, you do not have absolute ownership rights to a plot of land. However, you do have the option of buying a condominium unit, or a house separate from the land.

Taxation in Thailand for retirees

It all depends on your status in Thailand. Do you own an apartment in France? Do you derive your income from France or Thailand? Do you have rental income in France? So many questions that will make you a resident or a non-resident. The taxation applied depends largely on this. For example, for a non-tax resident in France, the tax rate on his pension is 20% deducted at source, in other words, withheld from the average net income to which the 10% has been deducted. CRDS and CSG are not applied.