My Pattaya Real Estate https://mypattayarealestate.com Best Pattaya Property Deals Updated Daily Thu, 12 Dec 2024 03:42:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://mypattayarealestate.com/wp-content/uploads/2024/12/cropped-android-chrome-512x512-1-32x32.png My Pattaya Real Estate https://mypattayarealestate.com 32 32 New Tax Rules for Foreign Sourced Income https://mypattayarealestate.com/new-tax-rules-foreign-sourced-income/ Thu, 18 Jul 2024 12:03:14 +0000 https://www.mypattayacondo.com/?p=125897 Effective from January 1, 2024 onwards the Thai Government has implemented a new tax law which potentially has direct repercussions on any foreigners who are living in Thailand and derive income from albeit sources both within Thailand and/or from overseas via remittances etc. The intention of these new tax laws seems pretty obvious, it’s about...

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Effective from January 1, 2024 onwards the Thai Government has implemented a new tax law which potentially has direct repercussions on any foreigners who are living in Thailand and derive income from albeit sources both within Thailand and/or from overseas via remittances etc. The intention of these new tax laws seems pretty obvious, it’s about raising tax revenues for the Thai Government however in doing so the Thai authorities wish to streamline and modernize the existing tax system so as to ensure fairness and bring them more into line with their Western counterparts.

Before foreigners start to panic and flee for the hills as soon as they hear the word “taxes” it’s important to explain the nuances of the new tax laws. For starters it’s not (I repeat not) the Thai Government’s intention to target and/or to single out foreigners only, as these new tax laws are applied equally across the board to both Thai nationals and foreigners alike (so there is zero discrimination). And much like any Thai national who derives their income from within the geographical borders of Thailand whether it be by salaries, rental and/or investment income etc., finds themselves (depending upon the relevant tax scale) being subjected to Thai personal income tax. Likewise foreigners who derive any Thai sourced income  deserve no special treatment and are treated no differently irrespective of whether it be the old or new tax law. As an example, foreigners who derive any sort of rental income from their properties in Thailand and earn in excess of 150,001THB per Year (after personal allowances and/or standard deductions) were always expected to make an income declaration at their nearest local revenue department in the relevant tax year. And for those of you with a Thai savings account you’ve always seen any interest income being credited into your account followed soon thereafter with a corresponding debit for any tax on this interest income that you’ve just earned being reflected within your Thai bank books………….so where it pertains to locally sourced income here in Thailand (irrespective of whether it be the old or new tax law) there is nothing nefarious or unusual going on here.

Before we get started, it’s important to note any taxable income under the new tax law is the aggregate (i.e. the sum) of both locally sourced (Thai) income earned during the tax year (which we’ve already covered above) as well as any foreign sourced income which you remit into Thailand within the tax year (which we’ll cover below). Obviously the sum of these two distinct income sources forms the basis of determining your aggregate income earned in the tax year, and by implications your individual Thai personal income tax bracket and personal income taxes owed to the relevant Thai tax/revenue collection authorities.

By now, it should be apparent to most foreigners reading this article that the biggest change under this new tax law system is the inclusion of foreign sourced income into the overall Thai personal income tax calculation which has obvious tax implications for Thai nationals and foreigners alike (depending upon whether or not they’re considered to be Thai tax residents or not).

Now let’s explore the fine minutia of foreign sourced income and it’s direct implications on foreigners (if any) in greater detail since the majority of our clients are foreigners. For starters, where it pertains to foreign sourced income  earned and remitted into Thailand in any tax year we need to ascertain whether or not you (as a foreigner) are viewed as either a Non-Thai tax resident or Thai tax resident by the Thai personal income tax authorities.

if you’re a foreigner who lives in Thailand for less than 180 Days in any tax (calendar) year you’re regarded as having Non-Thai tax resident status by the Thai personal income tax authorities, and as such any foreign sourced income that you earn and choose to remit into Thailand (irrespective of the amount) is not (I repeat not) subject to any Thai personal income tax……….. period end of discussion. However this does not preclude any Thai sourced income (as I’ve already mentioned above) that you may have earned within the tax year which would be subject to Thai personal income tax regardless of your Thai tax residency status. In summary, those of you who fall within this Non-Thai tax resident status category (apart from the notable exception of any Thai sourced income) have zero Thai personal income tax implications under this new tax law.

However, if you’re a foreigner who chooses (it’s always a choice) to live in Thailand for more than 180 Days in any tax (calendar) year will automatically find themselves as being categorized as having Thai tax residency status, and as such, are  liable for any Thai personal income tax (not withstanding any Thai sourced income) on any foreign sourced income which they’ve earned and choose (once again it’s a choice) to remit into Thailand either partly or wholly in any tax year under the new tax law. Now for those of you in this Thai tax residency status category there really is no reason to panic. For starters this new tax law is not being applied retrospectively. Meaning that any of your foreign sourced income that you may have earned prior to January 01, 2024 (remember this date as it’s an important date) that you’ve already chosen to remit or plan to remit either partly or wholly into Thailand at a later date (irrespective of the tax year) apart from any locally sourced (Thai) income (if any) earned  in that tax year is not (I repeat not) subject to any of Thai personal income tax under these new tax laws whatsoever………..so you can take a deep breath and relax.

Granted for those of you who now find yourselves falling within this Thai tax residency status category the changes under this new tax law can’t be viewed as being all good news. However if one were to choose the path of being a proverb-able optimist i.e. the glass being half full as opposed to being half empty, it’s not all bad news. For starters Thailand is a signatory of the “Double Tax Agreement” and since most Western counties are co-signatories one can mitigate the potential downside via the usage of the “tax credit” system. Basically, it’s a given that most (if not all) foreigners have already paid some personal income tax to the relevant tax authorities within the geographical jurisdiction of where these foreign sourced income streams are first generated…….correct? And by implication one can use the personal income taxes which one has already paid in the foreign jurisdiction as a “credit” to offset any potential Thai personal income tax liabilities on any eligible foreign sourced income earned and remitted into Thailand within any given tax year thus eliminating any fears of “double taxation” which are completely unwarranted.

Naturally one can expect the relevant Thai tax authorities to require some documented proof and/or substantive evidence to back any such “tax credit” claim from the applicant which in itself is an entirely different story which tends to deal more with bureaucracy and/or red tape rather than anything else. However it’s important to note that the “tax credit” cannot be used to offset any locally (Thai) sourced income and is only applicable to foreign sourced income earned and remitted into Thailand within any given tax year. Finally any “tax credit” must be either less than or equal to the amount of Thai personal income tax that one would have otherwise had to pay to the Thai tax authorities had one not used a “tax credit” to offset their foreign sourced income earned and remitted into Thailand within any given tax year…….which makes perfect sense.

Finally, in the absolutely worst case scenario (where all else fails) and using the existing Thai personal income tax scale (notwithstanding any locally sourced income) the first 150,000THB of any foreign sourced income earned and remitted into Thailand within any given tax year is subject to zero Thai personal income tax. Whereas, the next 150,000THB of any foreign sourced income earned and remitted into Thailand within any given tax year (again if not already offset by any overs tax credit i.e. from 150,001 to 300,000THB is subject to just 5% personal income tax which is just 7,500THB and so on and so forth (note that the percentage of tax does change depending upon the individual tax bracket). In summary, and after reading this article one must come to the inevitable conclusion that it’s not all bad news and that one does need to maintain one’s perspective here and not needlessly panic for panic sake.

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Wealthy Foreigners can now buy Land & Houses in Thailand https://mypattayarealestate.com/wealthy-foreigners-can-now-buy-land-houses-in-thailand/ Fri, 28 Oct 2022 05:54:58 +0000 https://www.mypattayacondo.com/?p=102506 In a recent article in The Nation Newspaper, Government sources have revealed that Wealthy foreigners may be eligible to buy up to 1 Rai of land for strictly private personal use in Bangkok, Pattaya and other municipal zones marked out as “residential areas”, subject to several strict pre-conditions. This Government directive will come into effect...

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In a recent article in The Nation Newspaper, Government sources have revealed that Wealthy foreigners may be eligible to buy up to 1 Rai of land for strictly private personal use in Bangkok, Pattaya and other municipal zones marked out as “residential areas”, subject to several strict pre-conditions. This Government directive will come into effect for 5 Years as soon as it’s officially published in the “Royal Gazette” which is expected to be very soon. The intention of this Government directive is to pull in foreign investment and foreigners with special expertise into Thailand, and was first proposed by the Thai Interior Ministry back in May, 2022. Whereupon, the Thai Cabinet took several months to investigate and assess the viability of this proposal by listening to the opinions of concerned agencies and stakeholders, hence the delay.

The directive allows Wealthy foreign expats, retirees, digital nomads and those with special expertise who wish base themselves in Thailand to buy up to 1 Rai of land (maximum) provided that they can prove that they’ve invested at least 40 Million Thai Baht in Thailand and can maintain the investment for a minimum of 3 Years, starting from the day that they’ve first applied to purchase the said land and/or house.

In accordance with the draft proposal and soon to become official directive, the following list of investment options are deemed eligible for consideration:

  • Bonds issued by the Thai Government, Bank of Thailand, Thai state-owned enterprises and the Thai Finance Ministry.
  • Shares within Property Funds, Infrastructure Funds and Financial Institution Debt Rehabilitation Funds.
  • Shares of Trusts for Investment in Property Developments.
  • Shares of legal entities that receive and/or are eligible for Board of Investment (BOI) privileges.

When applying for permission to purchase said land and/or houses, foreigners must submit a formal application together with certificates of proof of their investments to the Director-General of the Land Department, who will verify, and then forward them onto the Interior Ministry for final approval on the understanding that the land cannot be used for immoral activities or actions which violate social and cultural norms.

If approved by the Interior Ministry, applicants (i.e. eligible foreigners) must inform their local land department within 60 Days, and if applicants choose to withdraw any of their eligible investment options this too must be done within 60 Days.

Perhaps more importantly, this draft proposal clearly specifies that this is a special “One-time Only” concession whereby applicants (i.e. eligible foreigners) can only buy 1 Rai of land once, and that this “One-time Only” limit is applicable, irrespective of whether or not eligible foreigners decide to sell part or all of the land in the future.

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Thailand cancels the Thailand Pass & removes the mandatory Covid-19 insurance requirement for foreign tourists starting from July 1st, 2022 onwards. https://mypattayarealestate.com/thailand-cancels-the-thailand-pass-removes-the-mandatory-covid-19-insurance-requirement-for-foreign-tourists-starting-from-july-1st-2022-onwards/ Mon, 20 Jun 2022 06:23:39 +0000 https://www.mypattayacondo.com/?p=98456 Thailand’s Centre of Covid-19 Situation Administration (CSSA) has recently announced that the “Thailand Pass” pre-arrival and approval requirement together with the mandatory $10,000USD, Covid-19 insurance requirement for foreign tourists is to be discontinued from July 1st, 2022 which is wonderful news. Both of these requirements have already been removed for Thai nationals back in early...

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Thailand’s Centre of Covid-19 Situation Administration (CSSA) has recently announced that the “Thailand Pass” pre-arrival and approval requirement together with the mandatory $10,000USD, Covid-19 insurance requirement for foreign tourists is to be discontinued from July 1st, 2022 which is wonderful news. Both of these requirements have already been removed for Thai nationals back in early June, 2022.

Whereas the “Thailand Pass” website itself will continue to operate and serve as a vehicle for foreign tourists to report any Covid-19-like symptoms (if any) to the authorities online post arrival in Thailand.

The CSSA, further added that they plan to reclassify Bangkok and all 76 other Provinces as “Green” a.k.a. “Surveillance” areas which will allow entertainment venues to stay open longer. Currently entertainment venues must close at midnight, however under the new classification entertainment venues will be allowed to stay open until 1am or 2am in certain areas. Also the mandatory requirement for all businesses to conduct temperature checks on their customers before allowing entry, has also been suspended. I must caution readers that the zoning reclassifications are still at the approval phase and have yet to be imposed, however in all probability, it’s thought that they will coincide with the cessation of the Thai Pass entry requirements.

As for any mask mandates (which have never been codified into Thai Law) once again the CSSA recommends that the general public continue to exercise their own discretion when it comes to the wearing of face masks in public. However the CSSA were careful to point out that private businesses still have the right to impose safety protocols (i.e. face masks & temperature checks etc.,) should they still choose to do so, when granting entry to their premises.

So starting from July 1st, 2022 onwards, foreigners who arrive at any Thai airport or land border crossing simply have to show the Thai Immigration Authorities either proof of vaccination (i.e. a vaccine certificate either in printed or in digital format) or a negative RT-PRCR or ATK test done by a professional clinician/technician within 72 Hours of travel upon request. Furthermore, compulsory documentation and health checks upon arrival have been discontinued in favor of more routine randomized checks to reduce wait times and queues given the expected rise in tourist numbers.

Any unvaccinated or partly vaccinated tourists stopped by the Thai Immigration Authorities in randomized checks MUST provide proof of a negative RT-PRCR or ATK test within 72 Hours of travel upon request as a condition of entry. Any foreign tourists failing to do so, MAY be required to  undergo a professional ATK test at the port of entry, and granted access subject to a negative test result. As to what would happen in the case of a positive ATK test result, I would assume that the foreign tourist would be required to go into some form of quarantine, however this is subject to speculation on my part.

Disclaimer: Please note that this is NOT a definitive STEP BY STEP guide and that we STRONGLY RECOMMEND that you seek further clarification from the Thai authorities prior to booking any airplane tickets.

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Thailands new vaccinated and unvaccinated tourist entry rules from Nov 1st, 2021 https://mypattayarealestate.com/thailands-new-vaccinated-unvaccinated-tourist-entry-rules-nov-1st-2021/ Fri, 29 Oct 2021 12:22:55 +0000 https://www.mypattayacondo.com/?p=92668 According to a recent article in “Asean Now” formally known as “Thai Visa” the Thai authorities have announced that they plan to reopen their borders to international foreign tourists for the first time in what has effectively been almost 2 Years from November 1st, 2021 onwards. *Please read the disclaimer at the bottom of this article. Given the recency of this...

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According to a recent article in “Asean Now” formally known as “Thai Visa” the Thai authorities have announced that they plan to reopen their borders to international foreign tourists for the first time in what has effectively been almost 2 Years from November 1st, 2021 onwards.

*Please read the disclaimer at the bottom of this article.

Given the recency of this announcement and the fact that this reopening date is literally only a few days away, clarity on the entry process and requirements by the Thai authorities was essential in order to avoid any misunderstandings and/or confusion.

In summary, from November 1st, 2021 onwards any foreign international tourists arriving into Thailand will automatically be grouped into 3 Categories which are as follows:

1. Fully vaccinated tourists arriving from a “low-risk” country (please scroll down to the bottom of this article for a comprehensive list).

Basically anyone who is Fully Vaccinated and arrives from one of 46 “low-risk” countries must stay at least 1 night in a Amazing Thailand Safety & Health Administration (SHA+) certified hotel or alternative quarantine approved hotel whilst they await the outcome of a RT-PCR test result. In the case of a Negative RT-PCR test result, they’ll then free to travel to any destination within Thailand without any further restrictions. The Thai authorities have chosen to call this their Test & Go process as detailed below.

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2. Fully vaccinated tourists arriving from a “non-low-risk” country (basically any country NOT mentioned within the approved 46 low-risk countries).

Basically anyone who is Fully Vaccinated and arrives from a country that is NOT one of the 46 “low-risk” countries must stay at least 7 nights in a Amazing Thailand Safety & Health Administration (SHA+) certified hotel within a designated Blue Zone “sandbox” area (please scroll down to the list of 17 Blue Zone areas at the bottom of this article) whilst they await the outcome of their RT-PCR test result.

In the case of a Negative RT-PCR test result on Day 6 or Day 7 of their 7 Night stay, they’ll then be free to travel anywhere within Thailand without any further restrictions. The Thai authorities have chosen to call this their Living in the Blue Zone process as detailed below.

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3. Partially or Unvaccinated tourists

Basically any Partially or Unvaccinated foreign international tourist arriving from overseas, regardless of the country of origin must stay at least 10 nights in a quarantine approved hotel whilst they await the outcome of their RT-PCR test result.

In the case of a Negative RT-PCR test result on Day 9 or Day 10 of their 10 Night stay, they’ll then be free to travel anywhere within Thailand without any further restrictions.

Irrespective of category EVERY foreign international tourist wishing to enter Thailand from November 1st, 2021 onwards MUST follow the required process and submit the required documentation prior to their arrival in Thailand:

  • A valid Vaccine Certificate (if fully vaccinated) with an approved vaccine such as Pfizer, Johnson & Johnson, AstraZeneca or Moderna etc., at least 14 Days prior to their departure and subsequent arrival in Thailand.
  •  Anyone whose previously been infected with Covid within the last 3 Months must have a valid Vaccine Certificate (if partially vaccinated i.e. received at least 1 dose) of an approved vaccine at least 14 Days prior to their departure and subsequent arrival in Thailand.
  • Foreign international tourists who are 12 Years old or less are exempted from any vaccination requirements when accompanied by their parents or guardians. In the case of unaccompanied minors please consult the relevant Thai government authorities for further guidelines. 
  • A valid Medical Certificate issued by an authorized medical technician with a confirmed Negative RT-PCR laboratory test result within 72 Hours of your departure from your country of origin to Thailand.
  • A confirmed payment for 1/7/10 Nights (category dependent) stay in an approved SHA+, AQ, OQ, or AHQ facility and RT-PCR test.
  • A valid Health Insurance Policy with a minimum of $50,000USD in COVID-19 coverage.
  • Foreign international tourists must then register for a Thailand Pass at least 7 Days prior to departure.
  • Foreign International tourists must then upload the required documents (along with the valid visa/re-entry permit, if required), and allow 3-5 Working Days i.e. Monday – Friday for the approval process.
  • If approved foreign international tourists will then receive their Thailand Pass QR code.

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Please note that entry into Thailand is permitted only via these 6 airports which are Suvarnabhumi, Don Mueang, Chiang-Mai, Phuket, Koh-Samui and U-Tapao International Airports. Whereas Buriram Airport is reserved strictly for charter flights.

Additional info:

  • On arrival every foreign international tourist must download the Mor Chana mobile application onto their mobile phones.
  • Foreign expats or Thai nationals returning back to Thailand cannot quarantine themselves within their private homes and must stay in an approved SHA+ or quarantine hotel.
  • Travel from one of the airports to the SHA+ or quarantine hotel must take place via a ‘sealed route’ using an approved SHA+ or quarantine vehicle organized by the hotel.

List of 46 low risk countries and territories

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List of 17 ‘Blue Zone’ destinations

  1. Bangkok
  2. Krabi
  3. Chon Buri (Banglamung, Pattaya, Si Racha, Ko Si Chang, and Sattahip – Na Jomtien and Bang Sarey
  4. Chiang Mai (Mueang, Doi Tao, Mae Rim, and Mae Taeng)
  5. Trat (Ko Chang)
  6. Buri Ram (Mueang)
  7. Prachuap Khiri Khan (Hua Hin and Nong Kae)
  8. Phang-Nga
  9. Phetchaburi (Cha-Am)
  10. Phuket
  11. Ranong (Ko Phayam)
  12. Rayong (Ko Samet)
  13. Loei (Chiang Khan)
  14. Samut Prakan (Suvarnabhumi Airport)
  15. Surat Thani (Ko Samui, Ko Pha-ngan, and Ko Tao)
  16. Nong Khai (Mueang, Sangkhom, Si Chiang Mai, and Tha Bo)
  17. Udon Thani (Mueang, Ban Dung, Kumphawapi, Na Yung, Nong Han, and Prachaksinlapakhom)

Disclaimer: Please note that this is NOT a definitive STEP BY STEP guide and that we STRONGLY RECOMMEND that you seek further clarification from the Thai authorities prior to booking any airplane tickets or purchasing Covid-19 insurance etc.

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The Tourism Authority of Thailand wants to revitalize the tourism industry by encouraging the widespread acceptance of crypto currencies. https://mypattayarealestate.com/tourism-authority-thailand-wants-revitalize-tourism-industry-encouraging-widespread-acceptance-crypto-currencies/ Mon, 22 Feb 2021 10:56:10 +0000 https://www.mypattayacondo.com/?p=86838 In an effort to curtail the spread of Covid-19 and save lives, almost every government across the world with a few exceptions has long since closed down their borders to overseas travelers and restricted the movement of their own citizenry to flatten the curve which has had a devastating economic knock on effect on the global...

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In an effort to curtail the spread of Covid-19 and save lives, almost every government across the world with a few exceptions has long since closed down their borders to overseas travelers and restricted the movement of their own citizenry to flatten the curve which has had a devastating economic knock on effect on the global travel and tourism industry.

And as such, many small to mid-sized companies within this industry have already either gone or are on the verge of going bankrupt as they’ve seen their revenues plummet whilst their expenses continue to pile up unabated with little to no immediate end in sight barring the panacea of mass vaccinations which is still far off on the horizon. Sadly the inevitable mass unemployment and widespread economic misery that ensues as a direct result of these mass shutdowns in response to the disease can be far worse than the cure.

Irrespective of who is ultimately right or wrong in this debate really doesn’t matter as peoples personal priorities have already shifted away from overseas holidays, which are fast becoming a thing of the past for the average Joe and Jane, whose  priorities have now shifted more towards simply paying the rent or mortgage and putting food on the table. And as such, the Thai tourism sector has been equally hard hit with foreign visitor numbers and hotel occupancy rates now being at all time record lows. Thankfully not everyone has been so adversely impacted by the economic fall-out of Covid-19. One notable exception being the holders of cryptocurrencies who’ve seen their personal net wealth grow substantially over the past few months and years at an almost exponential rate.

The biggest problem that most cryptocurrency holders have is not a lack of cash, but rather a lack of ways to spend their cash as the worldwide mass acceptance of crypto particularly within the travel, leisure and tourism industry has been tepid at best, as many operators still prefer to accept more traditional methods of payment such as unbacked fiat currency or by debit or credit card payments partly due to the volatility of crypto. 

 

Fortunately theTourism Authority of Thailand (TAT) has recognized this lack of mass acceptance of crypto, and seeks to pro-actively capitalize on this opportunity by turning Thailand into a more crypto friendly country. According to a recent article on the Thai Visa forum, Mr. Yuthasak whom, I believe is a representative of the TAT has purportedly held talks with the 

Thailand-Japan Technology Promotion Association, in a bid to attract Japanese nationals who on average hold the largest amount of Bitcoin and Ethereum (which are the largest two cryptocurrencies by overall market cap) than any other nation across the entire globe in an effort to entice them to spend their crypto in Thailand. Mr. Yuthasak has already started to hold talks with many hotel and restaurant chain stakeholders, to actively encourage and convince them to accept crypto under the watchful eye of the both the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC) who will make sure that all of the necessary anti-money laundering measures are in place beforehand.

 

The long-term goal of the TAT is to attract young, rich tourists (and more especially those with crypto) with high-levels of purchasing power to increase their spending rate per capita each and every time they come to Thailand. One hopes that over time this measure of encouraging widespread acceptance of crypto as put forth by Mr. Yuthasak will gain the support and co-operation of the Thai Government, and in so doing act as a catalyst to help speed up the turnaround of a much beleaguered tourism sector in the post Covid-19 era when things slowly start to improve.

 

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Thai Government Plans to Build a 900 Billion Thai Baht “Thai Bridge” between Pattaya & Hua-Hin https://mypattayarealestate.com/thai-government-plans-build-900-billion-thai-baht-thai-bridge-pattaya-hua-hin/ Tue, 13 Oct 2020 11:03:03 +0000 https://www.mypattayacondo.com/?p=82489 In a recent article by the “Pattaya News 11 Oct 2020”, the Thai Government’s economic steering committee announced an ambitious plan to link the Eastern part of Thailand with that of the lower Western and upper Southern part of Thailand via a massive “Thai Bridge” across the Gulf of Thailand at a projected cost of...

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In a recent article by the “Pattaya News 11 Oct 2020”, the Thai Government’s economic steering committee announced an ambitious plan to link the Eastern part of Thailand with that of the lower Western and upper Southern part of Thailand via a massive “Thai Bridge” across the Gulf of Thailand at a projected cost of 900 Billion Thai Baht or $29 Billion US Dollars. The “Thai Bridge” project is intended to complement and build upon the Governments current Eastern Economic Corridor (E.E.C.) initiatives which are currently in the works such as the high-speed rail network which is intended to seamlessly connect “U-Tapao International Airport”, which is Pattaya’s nearest regional airport with that of “Suvarnabhumi” and “Don-Muang” International Airports in Bangkok.

The chairman of the Thai Government’s Committee for the Mobilization of Economic Management Measures, Mr. Pailin Chuchottaworn recently expressed his hopes that the “Thai Bridge” project will potentially open up new transport routes between regional “ASEAN” member countries such as Malaysia in South East Asia to a group of reporters. At the time of making the announcement, it’s still unclear as to the exact location of the “Thai Bridge” although it’s more than likely to be in the immediate Pattaya/Chonburi area and link up with the resort town of Hua-Hin on the opposite side of the Gulf of Thailand.

Mr. Pailin Chuchottaworn, then went on to say that revenues from tourism in the E.E.C. region of Rayong and Chonburi provinces were statistically disproportionally higher than that of other areas in the Gulf of Thailand, such as Hua-Hin. Although tourists visit both Pattaya and Hua-Hin, there is as much as a ten-fold difference in the number of tourists visiting Pattaya as opposed to Hua-Hin & Cha-Am on the opposite side of the Gulf of Thailand. And as such, the chairman hopes that the “Thai Bridge” will make it easier for tourists to travel to other cities along the Gulf of Thailand such as Cha-Am and Hua-Hin, and in so doing spread the economic prosperity from tourism more evenly. The “Thai Bridge” is expected to be around 80 to 100 Kilometres in length and is expected to shorten the route between the two resort destinations by almost 400 Kilometres, which is a drastic improvement.

The “Thai Bridge” project has already been approved by the Thai Government’s Centre for Economic Situation Administration (CESA) in principal and is currently being earmarked for a pre-feasibility study by the Eastern Economic Corridor Policy Committee for sometime next year. Mr. Pailin Chuchottaworn, then went onto explain that the resultant economic prosperity generated from the “Thai Bridge” will more than offset its huge price tag, and in a bid to mitigate the costs they plan to use local Thai people and building materials to build the mega-project.

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Thai Government’s Centre for Economic Situation Administration (CESA) has tentatively agreed in principal to some amendments to the criteria for granting “permanent residence” and “Smart Visa” status to foreigners. https://mypattayarealestate.com/thai-governments-centre-economic-situation-administration-cesa-tentatively-agreed-principal-amendments-criteria-granting-permanent-residence/ Fri, 11 Sep 2020 08:41:05 +0000 https://www.mypattayacondo.com/?p=81402 In a bid to woo foreign investors, and to give Thailand a much-needed economic boost particularly in the “recreational and tourism” sectors, the Deputy Secretary-General of the Centre for Economic Situation Administration (CESA), Mr. Danucha Pichayanan publicly announced on September 16, 2020 that they’ve approved several amendments (in principal) to the criteria for granting foreigners...

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In a bid to woo foreign investors, and to give Thailand a much-needed economic boost particularly in the “recreational and tourism” sectors, the Deputy Secretary-General of the

Centre for Economic Situation Administration (CESA), Mr. Danucha Pichayanan publicly announced on September 16, 2020 that they’ve approved several amendments (in principal) to the criteria for granting foreigners “permanent residence” and “Smart Visa” status, which I’m sure you’ll all agree is extremely encouraging. (sourced from The Nation Thailand September 18, 2020) CESA, has advised the Thai Government to consider granting “permanent residence” status to foreigners if they purchase a condominium in Thailand subject to the following conditions:

  • The purchase must be mortgage free, so essentially a foreigner must purchase the condominium for “cash”, which is a pretty common occurrence here in Thailand anyway as most foreigners (without a work permit) can’t qualify for a mortgage through a Thai banking institution anyway.

And

  • The foreigner must maintain ownership of the condominium for a minimum period of 5 Years.

The article sourced from “The Nation” omitted to mention whether the CESA had stipulated that the condominium purchase should exceed a certain Thai Baht cash amount, so it’s still very much early days as more information from the CESA will most likely follow over the next few weeks and months.

Also, as a foreigner one currently needs to reside in Thailand for a minimum period of 5 Years with five back to back, One Year Visas and to pass both a written and oral Thai examination to qualify for “permanent residence”, so it’s still unclear as to whether or not the CESA will recommend that the Thai written and oral exam be dropped as a precursor for “permanent residence” in favour of simply purchasing a condominium in Thailand.

Whereas the existing “Smart Visa” which was formally launched back in February 1, 2018 is primarily centred around attracting highly skilled foreigners in key targeted industries such as the “automotive”, “medical”, “bio-tech”, “renewable energies” and “robotics” sectors with the qualifying applicant being awarded a maximum 4 Year permission to stay Visa and being exempted from the needing a valid work permit.

However based on the online chat forum on Thai Visa it seems that the number of foreigners who choose to pursue this highly specialised type of Visa has been very disappointing, which may explain why CESA has at least agreed in principal to broaden the Smart Visa criteria to that of startup entrepreneurs in non-science and technology fields and in some cases (sourced by The Nation Thailand, September 16, 2020) the CESA has agreed in principal to relax the work criteria and educational background of high raking executives and allow the holders of Smart Visas to do other jobs beside the one specified on the Smart Visa.

In summary, the amendments announced in principal by Mr. Danucha Pichayanan of the CESA represents a huge step forward for Thai-foreign relations, and should the Thai Government ever formally enact these amendments, I’m confident that it will go a long way towards attracting many more foreigners to the “Land of Smiles”, and perhaps more importantly for those of us, who are currently lucky enough to already reside in Thailand on a One Year Visa (which need to be renewed on an annual basis) a possible route towards achieving “permanent residence” status.

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Thai Authorities Hard at Work to Finalise a Re-entry Plan for Foreign Tourists by October 2020. https://mypattayarealestate.com/thai-authorities-hard-work-finalise-re-entry-plan-foreign-tourists-october-2020/ Thu, 10 Sep 2020 07:20:07 +0000 https://www.mypattayacondo.com/?p=80986 Covid-19 has had a catastrophic effect on global markets as worldwide authorities have collectively shutdown their economies in a coordinated effort to “flatten the curve” and limit the number of Covid-19 deaths in their respective countries. A recent article in “Bloomberg” has announced that the Thai authorities plan to re-open their borders to international “long-term”...

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Covid-19 has had a catastrophic effect on global markets as worldwide authorities have collectively shutdown their economies in a coordinated effort to “flatten the curve” and limit the number of Covid-19 deaths in their respective countries.

A recent article in “Bloomberg” has announced that the Thai authorities plan to re-open their borders to international “long-term” tourists starting this October, which is fantastic news. Since the start of Covid-19 back in early February or March 2020, the hospitality and tourism sectors world-wide have all haemorrhaged massive amounts of money as their net cash inflows have dropped like a stone literally overnight. Worse still when sustained over time this is almost guaranteed to lead to mass layoffs and bankruptcies, which the Thai Government understandably wishes to avoid.

In a bid to potentially save millions of jobs, a plan to reopen Thailand to foreign tourists by the end of October 2020 has already been submitted to the Thai Government for their approval. Basically, the proposed plan would allow foreign “long stay” tourists to fly into Thailand via its many international airports, subject to the tourists first agreeing to enter into a mandatory 14 Day quarantine at the port of entry and thereafter they’d be allowed to travel freely throughout the rest of Thailand without restriction apart from partaking in preventive measures such as social distancing and the wearing of face-masks

Obviously, if you only have 2 weeks’ vacation time off every year this is a non-starter, whereas if you’re planning to stay in Thailand for a month or more, then this does become a viable option.

Prior to the onset of Covid-19, the hospitality and tourism sector made up a sizeable proportion of Thailand’s Gross Domestic Product (GDP) and it’s hoped that the return of foreign tourists will reverse the slump in business and save up to 3.27 Million jobs which the Thailand Development Research Institute estimates to be at risk with many economists expecting the overall Thai economy to shrink by 8.5% this year.

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Thailand finally starts to reopen it’s borders to international flights from overseas https://mypattayarealestate.com/thailand-finally-starts-reopen-borders-international-flights-overseas/ Tue, 30 Jun 2020 07:40:29 +0000 https://www.mypattayacondo.com/?p=79109 In a recent article in the “Thailand Business News”, Thailand’s Civil Aviation Authority (C.A.A.T.) has announced that the ban on scheduled international flights will be lifted subject to certain conditions effective from July 1st, 2020 onwards. Starting from July 1st, 2020 any persons flying into Thailand must comply with any rules and guidelines set by...

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In a recent article in the “Thailand Business News”, Thailand’s Civil Aviation Authority (C.A.A.T.) has announced that the ban on scheduled international flights will be lifted subject to certain conditions effective from July 1st, 2020 onwards.

Starting from July 1st, 2020 any persons flying into Thailand must comply with any rules and guidelines set by Thai Law such as the Immigration or Communicable Disease and Air Navigational Act’s and/or any emergencies decrees.

  1. The C.A.A.T. will allow any aircraft to fly over, and/or to land or to take off from any international airport in Thailand if:

a) The aircraft belongs to the Thai Government/Military.

b) Any aircraft with technical issues that’s in emergency distress and needs to land.

c) Any technical flights landing at a Thai International Airport with no passenger disembarkation.

d) Any humanitarian aid and relief flights and/or emergency medical evacuation flights.

e) Any special chartered repatriation flights.

f) Any inbound or outboard air freight/cargo flights.

2. Starting on July 1st, 2020 The C.A.A.T. will allow international flights carrying the following categories of passengers to land and/or to take off from any international airport in Thailand:

a) Any Thai Nationals with a valid Thai Passport.

b) Any Non-Thai Nationals entering the Kingdom by special invitation of the Thai Government.

c) Any Non-Thai Nationals who are either married to and/or related to a Thai National residing in Thailand.

d) Any Non-Thai Nationals with Thai Residency, or permission to take up residence in Thailand.

e) Any Non-Thai Nationals with a valid work permit inclusive of their spouse and children.

f) Any Non-Thai Nationals designated as special couriers of necessary goods, subject to their immediate departure once the necessary goods have been successfully delivered.

g) Any Non-Thai National aircraft crew members who are required to travel into Thailand to complete a specific task, with a specific date and time of departure.

h) Any Non-Thai Nationals who are students of approved Thai Educational Institutions and their parents/guardians who accompany the students.

i) Any Non-Thai Nationals and their attendants entering Thailand for medical treatment, with the exception of being treated for Covid-19.

j) Any Non-Thai Nationals entering Thailand for Diplomatic and/or Consular Affairs and/or Special Arrangement inclusive of their spouses and/or children.

In addition, all of the above-mentioned categories of passengers will be screened and/or tested for Covid-19 on arrival by the Immigration and/or Communicable Diseases offers subject to their capabilities and if deemed necessary complete a mandatory quarantine period at their own personal expense.

There is an unsubstantiated rumour (this was not mentioned in the article but rather by an online blogger responding to the article) that only 200 Non-Thai Nationals will be allowed into Thailand per day until such time as more state quarantine rooms are made available, and that these individuals must submit their travel itinerary in advance so that they can be monitored by health and security officials at all times. The Thai Government is obviously taking the threat of Covid-19 seriously, which explains why Thailand has not had a single new case of Covid-19 for several weeks now.

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Latest Proposed Future Plans For Walking Street & Bali-Hai Pier https://mypattayarealestate.com/latest-proposed-future-plans-walking-street-bali-hai-pier/ Mon, 15 Jun 2020 05:16:47 +0000 https://www.mypattayacondo.com/?p=78499 In a recent article by “The Pattaya News”, Pattaya City Hall hosted a presentation by a group of professional consultants hired as part of the greater Eastern Economic Corridor (E.E.C.) to outline two different yet very similar proposals for the future modernisation of both Bali-Hai and Walking Street. The overall aim of the two proposals...

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In a recent article by “The Pattaya News”, Pattaya City Hall hosted a presentation by a group of professional consultants hired as part of the greater Eastern Economic Corridor (E.E.C.) to outline two different yet very similar proposals for the future modernisation of both Bali-Hai and Walking Street.

The overall aim of the two proposals is to seamlessly connect Pattaya’s major shopping malls with Walking Street and Bali-Hai Pier via a modern mono-rail similar to that of the BTS network in Bangkok but obviously on a much smaller scale. In recent years Pattaya City Hall has conducted several feasibility studies into a possible tram network, and the latest two proposals seem to indicate that Pattaya City Hall is learning more towards an elevated overhead mono-rail network as opposed to either a tram or subway network as an alternative to it’s existing public transportation network which is still largely baht bus dependent.

On reflection, a mono-rail network actually makes a lot of sense as it’s the least expensive option of the three. And since the mono-rail network would be suspended directly overhead some of our already badly congested roads, it should cause minimum disruption to traffic within Pattaya City once completed and hopefully go a long way towards helping alleviate some of Pattaya long time inner-city traffic congestion issues particularly over the weekends and public holidays.

Without doubt Walking Street still remains the number one undisputed nighttime tourism hotspot for both domestic and international tourists thanks to it’s unique proliferation of vibrant bars, go-go’s, discos and restaurants which have dominated the adult entertainment scene here in Pattaya for several decades. However by day, it’s shortcomings quickly become apparent as evidenced by the lack of tourist foot-traffic during the day as most of the aforementioned entertainment and eatery venues mentioned above remain closed during the day giving tourists little to no reason to visit Walking Street during the day aside from going to and from the Koh Larn passenger ferry terminal via Walking Street.

Quiet understandably, most tourists tend to congregate either on the beaches or in the major air-conditioned shopping malls during the day. And thus it’s hoped that the inclusion of a massive recreational walkway linking Pattaya Beach to Bali-Hai Pier via land reclaimed from the sea alongside Walking Street together with a cantilevered observation wheel, much like the “London Eye” but obviously on a much smaller scale will aid in Pattaya City’s efforts to entice daytime tourists and local residents back to the area.

Other proposals for the area also include the building of an international cruise terminal, which would involve the construction of a new pier and breakwater next to the existing marina adjacent to the lighthouse. Whilst it’s hoped that the proposed mono-rail network could serve as a seamless, hassle-free and more importantly cost-effective link ferrying passengers to and from both Walking Street, Bali-Hai Pier and Pattaya’s major shopping malls.

The consultants ended their presentation over at Pattaya City Hall by cautioning everyone who was present that their future modernisation proposal plans for Walking Street and Bali-Hai Pier are still at the early proposal stage, and as such can be subject to change with a possible anticipated completion date sometime in 2025 if everything goes according to plan.

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