Thailand is one of the most sought-after destinations in Southeast Asia. The country has a population of 68 million people who are well known for their friendly disposition, which has resulted in Thailand often being referred to as the ‘Land of Smiles’.
Thailand offers an affordable, yet exceptionally high standard of living. The country has made significant socio-economic progress over the last four decades, moving from a low-income to an upper-income country in less than a generation. Besides being rich in agriculture, its industrial production facilities in automobiles, electronics, healthcare, and jewelry are global pioneers.
The country has been widely cited as a development success story with sustained strong growth and impressive poverty reduction. Thailand offers residence in a country that is safe and secure.
In Thailand, residents (those residing in the country for more than 180 days) are subject to tax only on income earned from sources within Thailand as well as on any portion of income from foreign sources that is remitted to Thailand in the same year in which it is earned. Therefore, Thailand’s tax regime is considered very beneficial, similar to that of Hong Kong and Singapore, for individuals who are resident in Thailand and do not generate significant income in the country.