Thailand Tops Expat Survey

Thailand recently came out on top of the Expat Explorer Survey 2011 due to it’s broad financial and lifestyle benefits

London, UK (Pryce Warner International) September 28th, 2011 – Not only is Thailand becoming a more and more popular destination for Expats seeking a more unique location to retire, it was recently voted top for economic and lifestyle factors by Expats.

One of the main appeals of Thailand is that Expats are in a unique position to minimise tax. This is because a resident of Thailand is liable to pay tax on income from sources in Thailand as well as a portion of income from foreign sources brought into Thailand.

In practice, this allows Expats resident in Thailand to retain their wealth offshore and not have to pay any taxes, all completely legitimately. To be considered resident in Thailand you would have to meet HMRC’s standard non-residency rules and Thailand’s rule of living there for more than 180 days in a year.

Expats have also reported that the cost of living is significantly lower than in Europe or the UK, especially once you have spent some time there and begun to know the best locations for goods and services.

However, due to its popularity as a tourist destination, many Expats advise that it is best to avoid relocating in the touristy areas and that towns and cities a little bit more out of the way are much quieter and also pensions assets to go a lot further.

The main reason that Thailand topped Expats lists however, is that the standard of living is extremely high. The weather, scenery and beaches are much more beautiful than those in France or Spain and the quality of local affordable food means the majority of people could choose to eat out every night if they wished.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International, a Financial Services Provider for Expats, commented: “It is surprising that Thailand has topped the Explorer Survey 2011, traditionally the majority of Expats favour Span and France for retirement. However, considering the state of the European economy and the relative cost of living and potential lifestyle in Thailand, it seems probable that it may become one of the most popular destinations for retiring Expats. With long-haul flights becoming more regular and affordable, even the distance from home will seem less of a barrier. On paper, Thailand seems a great place to retire but it still requires a large amount of planning in order to ensure that your financial affairs are properly handled and in accordance with both local rules and those in your home country. For this reason anyone considering retiring abroad should always consult independent financial advisors first.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

-------------------------------
By: Aneil Fatania
Financial Editor
Pryce Warner International Group
For any corrections of factual information contained within our news items please contact our editor.
Email: af@prycewarner.com
Skype: newsdesk-pwi
Telephone: U.K.- +44 20 3364 5016 or Monaco - +377 97 97 29 22