retirement pension in Thailand

Receive retirement pension in Thailand

There are about 500,000 europeans receiving retirement pension in Thailand. Many of them receive the full amount of the GROSS pension and are taxed according to the rates of the host country.

In the case of a pensioner FULLY TAXABLE IN THAILAND this can result in an average increase of 20% of the amount received. That is, the same retiree living in Thailand sees the 20% more than it would receive if you stayed in Italy.

This is possible thanks to an agreement between many European Governments and the Kingdom of Thailand for the avoidance of double taxation and prevention of tax evasion with respect to taxes on income.

We must however distinguish between registered residence and tax residence.

The first is the simple notification to our last municipality and the stay for more than 180 days a year Thailand.

The second consists of, in addition to having registered residence, also obtaining a social security number and the payment of income taxes to the State.

Siam Trade Development can help you clarify and act in a proper manner to get your retirement at 100%.

HOW TO GET TAX RESIDENCE IN THAILAND?

First you need to take note that you have to actually reside permanently and regularly in Thailand for more than 180 days a year. Escamotage, visa-run and fictitious residences have its days numbered. The Thai immigration has made the jerseys of checks in the past year and so better do things regularly. Therefore, resign to Hibernate (say between October and June, the months when the weather is more mild and scarce rains) in a country where it’s summer all year round and where life is less than half that in Italy. It will be necessary to open a bank account in a bank in Thailand.

The account will be opened upon presentation of your certificate of residence or Non-Immigrant O. Some banks will allow the opening of bank accounts even with just the stamp upon Arrival in your Passport, but with limitations on the functionality of the account (will not give you remote banking and credit card).

Gets the registered residence and demonstrated that were over six months in the Kingdom, you can get the Thai personal tax ID tax consequences. You should read this article of our blog about the rates; However, to give you an idea, are 20 percent for an income of about 2,000 EUR/month net of deductions.

Obtained the tax residence, we can expect a series of bureaucratic acts with documents handling and certified by producing both Thai State to your National Social Security. And that’s where giocoSiam comes in Trade Development; so you get the practice correctly and you will receive retirement pension in Thailand NET within a few weeks.

STOP PAYING TAXES IN EUROPE!

You will pay taxes to the Thai Revenue Department on the basis of a self declaration. There are many deductions you are entitled to. Such as health insurance and is totally deductible and highly recommended since who is not entitled to public health. Attention: private health care in Thailand costs very expensive but it is good quality. Unable to find some relative information in this article of our blog.

One last tip: If you are retired you will have annual visas Non-Immigrant O. This visa does not allow to work. Any kind of business, even just stay at the checkout of the activity of your consort thai, it is considered job and harshly punished. Enjoy the Board and let it work more …

For more information about how to receive your retirement in Thailand contact us now!

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Summary
retirement pension in Thailand
User Rating
5 based on 2 votes
Service Type
retirement pension in Thailand
Provider Name
Siam Trade Development,
399 Sukhumvit Rd, Khwaeng Khlong Toei Nuea, ,Khet Watthana,Bangkok-10100,
Telephone No.+66972354485
Area
Thailand
Description
There are about 500,000 europeans receiving retirement pension in Thailand. Many of them receive the full amount of the GROSS pension You can, too!