Living in Thailand: Costs, Residency, Pros & Cons

Information About Living in Thailand

Thailand, The Land of Smiles, gets that nickname from its friendly, warm people and smiling, carefree citizens. That friendly and respectful attitude lends itself to a greater feeling of safety throughout the country, too.

People around the globe have long seen Thailand as a tropical playground with an incredible low cost of living. Its crystal-clear water, full moon beach parties, and lively cities have made it a hot spot for tourists for decades.

It’s more than a place to stop in for a short visit, though. Sometimes referred to as the “Gateway to Southeast Asia,” Thailand is an emerging economic powerhouse with the second highest GDP in the ASEAN (Association of Southeast Asian Nations) region.

It gets even better from a real estate perspective as it ranks as the most popular market from that group, according to the Thai Statistics Authority. This makes it a place where real estate investors can thrive.

Visa Requirements for Foreigners Relocating and Living in Thailand

Thailand offers flexibility for tourists and aspiring foreigners residents, with several different visas that allow you to relocate and live in the country. The requirements for the short term tourist visas are simple, involving the submission of several documents such as the application form, 1000-2000 Baht processing fee, photograph, and 6-month valid passport.

For longer-term visas, there are several other options with different restrictions and requirements.

Visa Type	Characteristics	Requirements
Investment Visa	1-year validity with option for renewal Must report address every 90 days May only work with a work permit Family members who can provide evidence of relationship also eligible to stay	Hold a non-immigrant visa Transfer and maintain a 10 million Baht investment into Thailand via any combination of: a condominium lease or purchase; deposit into a Thai bank’s fixed-deposit account; purchase of Thai government or state enterprise bonds
Elite Visa	Multiple membership tiers with 5, 10, and 15-year validity Multiple entry 24/7 concierge services Immigration fast track at airport Invitation-only tier with 20-year validity	Submission of required documents including application, passport, and photo Must be eligible to stay in Thailand according to Thai immigration law Pay required fee based on membership tiers such as gold, platinum, and diamond from 500,000 to 5 million Baht
Non-Immigrant Visas	Various categories such as B (business), ED (education), and EX (expert) Can apply for single-entry or multi-entry visas 90-day validity that can be extended to 1 year after arrival	Different documents may be required depending on the visa, such as education, retirement, business, and more
Non-Immigrant O (Other) Visa	90-day validity with possibility of 1-year extensions Granted in various cases such as retirement after age 50, staying with family (spouse, children, adopted child), medical treatment, and more Multiple entry possible with re-entry permit	Must supply additional documents depending on category such as pension documents, personal details of family member in Thailand, financial details, and more

How Easy Is It To Get a Permanent Resident Visa?

The process for getting a permanent resident visa in Thailand is easy as the base requirements involve 3 consecutive years of residence in Thailand under a non-immigrant visa, a criminal background check, release of certain information such as income and family relations, and some Thai language ability.

There are 4 routes to gaining a permanent residence permit in Thailand:

• Investment. Involves a 10 million Baht investment in Thai condominiums, fixed deposit, government or state enterprise bonds, or any combination of the three.
• Business. Must hold an executive position in a Thai-registered company that benefits the Thai economy worth 10 million Baht or more. Must have a monthly salary of more than 50,000 Baht for two straight years.
• Work. Must hold a Thai work visa and work permit for 3 years, must have been at current employer for more than one year, and must have individual savings of 20,000 Baht or family savings of 40,000.
• Humanitarian. This includes several categories from spousal, parental-child, expert, and even case-by-case permission.

The Cost of Living in Thailand

Thailand’s cost of living is much lower than that of North American countries like the United States or European nations such as France. It’s a newly industrialized nation with a large portion of its GDP coming from tourism. One of the reasons it attracts those tourists is because of the low prices of its local transportation, goods, services, and food.

Estimates for the average Thai salary are around 100,000 Baht per year, or just under $3,000 USD. This is sufficient for local residents to live off of.

Money may stretch further in the rural areas of Thailand, but even living in the metropolis of Bangkok is relatively comfortable.

Advantages of Living in Thailand

The biggest advantages of living in Thailand are the low cost of living, low stress environment, and overall peaceful mindset of the Thai citizens. White sand beaches, lush jungles, and balmy weather are just some of the perks that come along for the ride.

That environment also contributes to the general culture of Thailand as a whole and the attitudes of individual people. For this reason and the deep-seated Buddhist traditions, the Southeast Asian country gets the nickname “The Land of Smiles.” Almost anywhere you go you’re likely to encounter pleasant, respectful people.

Thailand is also a very international country, with tourists and retirees flocking from all corners of the world. This means that there’s no shortage of opportunities for companionship.

As Thailand attracts more and more foreign residents, the advantages of real estate investment in the country become more and more clear. If you have a little bit of spare cash, this is one other benefit of living in the tropical nation.

Disadvantages of Living in Thailand

One of the biggest disadvantages of living in Thailand is the language barrier. While people are incredibly friendly, not knowing Thai makes it harder to form deeper connections with the locals. Many will speak English quite well, but there are no guarantees. So, the sooner you can Learn Thai, the better.

Cultural barriers can be as difficult to overcome as linguistic ones. And with the people of Thailand firmly rooted in tradition, this can be the most difficult obstacle to overcome. Small customs like not pointing, not wearing shoes inside someone’s home, and not causing a scene in public can start to pile up and feel overwhelming.

If you can’t adapt to the language and culture, loneliness may set in. It’s possible to feel lonely anywhere, but when you don’t understand the majority of what’s happening around you, the feeling can grow further.

There’s also the opposite side of the advantage coin to consider. For example, while the weather in Thailand is great throughout most of the year, it’s also subject to a lengthy monsoon season. The amount of foreigners, while fun at times, can also be a negative in the form of superficial tourists packing the streets.

What Are the Best Urban and Rural Areas To Live in Thailand?

Some of the best urban and rural areas to live in are the northern jewels of Chiang Mai and Lampang, islands like Phuket and Samui, and urban centers like Bangkok and Pattaya.

Where you settle down depends largely on your taste, but if you like hustle and bustle, consider Krung Thep Maha Nakhon, or Bangkok. There’s no shortage of things to do, people to see, or amazing food to eat. Pattaya is another attractive option for someone looking for a beautiful location with a bit of a touristy side.

For those wanting to sip drinks by the beach, look to Thailand’s islands. Phuket, on the Adaman Sea side of Thailand, may be the most well-known among them. It’s also among the largest islands in the land of smiles and has a population of around 80,000.

Koh Samui, an island inside the Gulf of Thailand, might be a better choice for those looking for something more relaxed.

If you want abundant nature at your fingertips but aren’t so into islands, northern cities like Chiang Mai or Lampang may be calling. Both are surrounded by incredible mountain national parks, hiking trails, and have unique city-centers of their own.

Is the Thai Capital a Good Place To Live?

Yes, Bangkok is a fantastic place to live as it offers an enviable blend of high quality of life alongside low cost of living. The capital city’s traditional name of Krung Thep Maha Nakhon can be translated to ‘City of Angels,’ and it lives up to the name with the harmonious way of living that people can enjoy there.

There’s something for everyone living in Bangkok like incredible culinary traditions, a rich culture, luxuries, and affordable residential condominiums. The commercial side is seeing more and more developments, too, like the multi-use One Bangkok project along with several other malls in Bangkok. Finally, there’s a thriving and welcoming international community that can make it feel like home for anyone.

For more on the best places to live in Thailand and services that will set you up for success, check out PropertySights Real Estate today.