Hello, any ex pats in Thailand? Looking to maybe retire there or spend 2-3 months a year there soon.

We spend our summers there when our daughter is out of school. Will be increasing to ~6 months a year once she graduates in a few years.

Where are you looking to live?

East pattaya, Hua Hin, East Bangkok.

From what I've been told, I've got enough resources to have a pretty good lifestyle there. I've always lived modestly but for 10-15 million THB, you can buy a really nice house in most areas. And the rest of living expenses are very low compared to the US.

We have a house and farm in Surin and a condo in Pattaya. I'll probably buy another condo in Pratumnak or Jomtien for longer stays once I retire.

For $10-12mil Baht you can get a very nice place. Keep in mind that foreigners cannot own land, so unless you or your spouse has Thai citizenship you'll need to create a Thai company of which you can own up to 49% (split the other 51% between 2 Thais) and use it to purchase the land. There is some risk w/ that, but many people do it.

I'd advise to rent for a few months in any place you are considering buying property.

Once you retire? Do you work in Thailand? I thought expats couldn't really work there except teaching English.

gggmann said:

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We have a house and farm in Surin and a condo in Pattaya. I'll probably buy another condo in Pratumnak or Jomtien for longer stays once I retire.

For $10-12mil Baht you can get a very nice place. Keep in mind that foreigners cannot own land, so unless you or your spouse has Thai citizenship you'll need to create a Thai company of which you can own up to 49% (split the other 51% between 2 Thais) and use it to purchase the land. There is some risk w/ that, but many people do it.

I'd advise to rent for a few months in any place you are considering buying property.

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How do you expect the new tax changes to affect you? The tax on worldwide income for revenue earned prior to Dec 31, 2024.

gggmann said:

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We have a house and farm in Surin and a condo in Pattaya. I'll probably buy another condo in Pratumnak or Jomtien for longer stays once I retire.

For $10-12mil Baht you can get a very nice place. Keep in mind that foreigners cannot own land, so unless you or your spouse has Thai citizenship you'll need to create a Thai company of which you can own up to 49% (split the other 51% between 2 Thais) and use it to purchase the land. There is some risk w/ that, but many people do it.

I'd advise to rent for a few months in any place you are considering buying property.

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What stops the other two Thais from simply "voting" against you and stealing the property? Might as well just give 51% to your Thai wife.

I appreciate all the info.

gggmann said:

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We have a house and farm in Surin and a condo in Pattaya. I'll probably buy another condo in Pratumnak or Jomtien for longer stays once I retire.

For $10-12mil Baht you can get a very nice place. Keep in mind that foreigners cannot own land, so unless you or your spouse has Thai citizenship you'll need to create a Thai company of which you can own up to 49% (split the other 51% between 2 Thais) and use it to purchase the land. There is some risk w/ that, but many people do it.

I'd advise to rent for a few months in any place you are considering buying property.

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What do you think about the area in Pattaya near Lake Mabprachan to buy a house?

That's a great question. There's a lot of debate ongoing on the exact impact, so I'm just waiting to see. If you spend less than 6 months in country you are exempt from income tax, so I don't have to worry about it at the moment. I'll adjust my long term plans based on who things play out.

newbie11 said:

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What stops the other two Thais from simply "voting" against you and stealing the property? Might as well just give 51% to your Thai wife.

I appreciate all the info.

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Supposedly, if you do it right the other two Thais have no contact and don't know each other, but I think it is still a risk, hence I don't plan on ever going down that route.

newbie11 said:

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What do you think about the area in Pattaya near Lake Mabprachan to buy a house?

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It's away from the hustle and bustle. Other than that I don't know much about the area. Most likely you'll need a car if you are that far away from town.

gggmann said:

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newbie11 said:

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What stops the other two Thais from simply "voting" against you and stealing the property? Might as well just give 51% to your Thai wife.

I appreciate all the info.

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Supposedly, if you do it right the other two Thais have no contact and don't know each other, but I think it is still a risk, hence I don't plan on ever going down that route.

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This is an interesting idea. As long as they can't find and contact each other…

gggmann said:

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newbie11 said:

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What do you think about the area in Pattaya near Lake Mabprachan to buy a house?

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It's away from the hustle and bustle. Other than that I don't know much about the area. Most likely you'll need a car if you are that far away from town.

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Thank you for the info and feedback.

gggmann said:

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That's a great question. There's a lot of debate ongoing on the exact impact, so I'm just waiting to see. If you spend less than 6 months in country you are exempt from income tax, so I don't have to worry about it at the moment. I'll adjust my long term plans based on who things play out.

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I sat in on a couple zoom expat tax discussions and there doesn't seem to be much concern currently as most seem to feel the Thai govt changes its mind frequently.