Retiring in Thailand Retiring in Thailand

An Introduction with Helpful TipsAn Introduction with Helpful Tips

Isan Real Estate Co., Ltd.Isan Real Estate Co., Ltd.

Retiring in Thailand – An Introduction with Helpful TipsRetiring in Thailand – An Introduction with Helpful Tips

Why Retire in Thailand?Why Retire in Thailand?

There are many advantages to living inThailand, especially for seniors, whether or notyou have a limited income. As economiesworsen in Western developed nations, Thailando ers you a very comfortable standard of livingat far less cost. Not only that, it is also a verysecure, safe, and stimulating place to live, asgrowing numbers of retirees moving here canattest to.

What many seniors nd in Thailand is that they can use what resources they do have to notonly maintain a comfortable lifestyle, but also actually upgrade their quality of living in aplace very conducive to their health. You can live in your own home either privately, or ina community, where you can enjoy outdoor activities, such as golf, swimming, gardening,or boating, almost every day of the year.

Where you might not have time to do many of these activities at home, the inexpensivehelp available in Thailand can free you from those time-consuming chores and errands,allowing you to live a most leisurely life, one that would be almost impossible to maintainfor many in their home country.

There are many added bonuses that often turn people’s lives around, from theThere are many added bonuses that often turn people’s lives around, from thewarm, friendly locals who respect the elderly, to the world-class healthcare thatwarm, friendly locals who respect the elderly, to the world-class healthcare thatis available in Thailand’s larger cities for a fraction of the cost in the West.is available in Thailand’s larger cities for a fraction of the cost in the West.

Thai CultureThai Culture

Thai culture is incredibly warm and welcoming; Thai people are both open to otherpeople’s religious and political beliefs and very proud of their own culture. However,while sensitive to the behavior of others, Thai people follow some cultural practices thatcan be awkward for some visitors.

Typically, Thais will not show overt displeasure at someone violating these culturalnorms. Such behavior is an important aspect of Thai culture: Thais do not generally getvisibly upset at others! That said, it’s better to be aware of these aspects of Thai culture andbehave accordingly.

Thais don't normally shake hands whenthey greet one another, but instead presstheir palms together in a prayer-like gesturecalled a wai. Generally, a younger personor person of lesser social status wais an elderor more senior person, who then returnsthe gesture. Thais regard the head as thehighest part of the body and the feet as thelowest, both literally and figuratively.

Therefore, avoid touching people on the head and try not to point your feet at people oran object. It is considered very rude. Shoes should be removed when entering a privateThai home and some places of business. Overt public displays of a ection between menand women are frowned upon, much as public displays of anger are.

Language in ThailandLanguage in Thailand

While the o cial Thai language is widely spoken throughout Thailand, many Thais alsospeak and understand English, though more so in Bangkok and the major tourist areas. Asvisitors to Thailand also include many Europeans and other Asians, Thai people's languageskills often also include these other languages to varying degrees.

The Thai language itself is challenging to master, but Thai people are happy to helpforeigners learn a few words to help them get around. However, English is typically thecommon currency for cross-cultural conversation as Thailand hosts visitors from aroundthe world. If you make an effort to speak Thai, it will often be rewarded many times over.

With so many visitors, the Thailand communications system has many features that makeit very accessible to foreigners. In regards to telephone use, it is possible to get a Thai SIMcard at most international airports and both rental mobile phones and SIM cards arereadily available in destinations including Bangkok, Chiang Mai, Pattaya, and Phuket.

Workers in post o ces generally speak some English, and there are internet cafesthroughout Thailand that feature Skype headsets speci cally to cater to visitors wishing tocommunicate with friends and family back home. The Thailand communications systemis both modern and convenient for visitors to use.

Thai LanguageThai Language

While the Thai language is the o ciallanguage of Thailand, one could sayEnglish is its uno cial second language. Astourist and business visitors from aroundthe world have traveled to Thailand,English naturally has become the commonlinguistic “currency” even while many ofthose visitors learned how to speak Thai.Consequently, population centers that hostmany foreigners, such as Bangkok, ChiangMai, and the islands have many people whocan speak English quite well.

That said, visitors may experience di culty picking up the Thai language as it isconsiderably di erent from many foreign languages. The Thai language features vetones: high, mid, low, rising, and falling, each of which changes the meaning of particular‘words’.

Visitors unfamiliar with tonal languages often have di culty pronouncing even the mostbasic terms when learning to speak Thai, but with some practice visitors nd that Thaipeople enjoy helping them with their pronunciation of the Thai language.

Written Thai is based on an alphabet adopted from the Khmers of Cambodia and is said tohave become standardized during the reign of King Ramkhamhaeng during the Sukhothaiperiod. The Thai alphabet consists of 44 consonants, 18 vowels, and 4 diphthong (tonal)notations. Learning to read Thai can be more complicated than learning to speak it as thepronunciation of written words does not follow a straightforward progression of lettersand written Thai does not place spaces in between words. Fortunately, road signs arewritten in both Thai and English, and many tourist areas provide maps, menus, and otherliterature in both Thai and various other foreign languages.

One problem that does occur for foreigners trying to pronounce Thai words correctly iscaused by the transliteration of Thai words into Romanized characters. An obviousexample would be the island of Phuket, pronounced “poo-ket” rather than “foo-ket” as itwould be pronounced in English. Furthermore, there is no o cial standard for thetransliteration of words and thus many Thai words are spelled di erently on di erentmaps or street signs (i.e. Even the BTS Skytrain features both Chitlom and Chidlomstations).

Religion in ThailandReligion in Thailand

While roughly 95% of the Thai people arepractitioners of Theravada Buddhism, theo cial religion of Thailand, religioustolerance is both customary in Thailandand protected by the constitution. By itsvery nature however, Buddhism, which isbased on the teachings of the Buddha, “theenlightened one”, is a compassionate andtolerant religion, the aim of which is thealleviation of suffering.

Consequently, Thai people are very respectful of the religious beliefs of others and are veryopen toward discussing their Buddhist values with visitors. In fact, there are manyopportunities in Thailand to visit Buddhist temples to learn about or study Buddhism andperhaps to learn to meditate.

Religion in Thailand pervades many aspects of Thai life and senior monks are highlyrevered; it is not uncommon to see their images adorning walls of businesses or homes orupon ornaments inside of taxi cabs. In many towns and villages the neighborhood wat(temple) is the heart of social and religious life.

Buddhist holidays occur regularly throughout the year (particularly on days with fullmoons) and many Thai people go to the wat on these and other important days to payhomage to the Buddha and give alms to monks in order to make merit for themselves.Meditation, one of the primary practices of Buddhism, is a means of self re ection in orderto identify the causes of individual desire and ultimately alleviate ones su ering. Visitorscan learn the fundamentals of this practice at a number of wats across the kingdom.

Some temples, particularly in Chiang Mai, allow visitors to chat with monks in order togain general knowledge about Buddhism or to study Buddhism more seriously.While Theravada Buddhism may technically be considered a philosophy rather than areligion (there is no ‘God’), Thai Buddhism is infused with many spiritual beliefs which arelikely the result of lingering animist and Hindu beliefs from centuries earlier.

Most Thai homes and places of business feature a ‘spirit house’ just outside the building,where o erings are made to appease spirits that might otherwise inhabit their homes orworkplaces. These spirits should be placated so as to keep their locations safe from harm.

Furthermore, Buddhist monks are often brought to new homes and businesses to ‘blessthem’, and Thai people frequently light incense and make prayers to both Buddha imagesand a host of Hindu gods whose shrines are located throughout Bangkok and thecountryside.

The next largest religion in Thailand, Islam, is practiced by only about 4% of thepopulation; the majority of Thai Muslims live in the most southerly provinces near theMalaysian border.

Other religions in Thailand include Hinduism, Confucianism, Taoism, and Christianity,which are generally practiced by those living in Bangkok, where a multi-culturalpopulation includes citizens of Indian, Chinese, Japanese, and European descent.

Facts at a GlanceFacts at a Glance

TimeThailand Standard time is GMT +7. Thailand does not observe daylight savings.

BankingThai bank hours are generally Monday through Friday, 9:30 am to 3:30 pm, thoughcertain banks have shorter Saturday hours and currency exchange booths are openconsiderably longer hours in Bangkok and other tourist destinations. Banks in malls andshopping centers usually have extended hours as well.

Money ChangersMost foreign currency and traveler’s checks are cashed easily at hotels and tourist shops, aswell as all provincial banks, shopping centers and money changers. Traveler’s checks arebest changed in banks, which will require your passport. Rates of exchange at banks orauthorized money changers are better than those at hotels and department stores, whetheryou want to exchange Thai baht or purchase Thai baht with foreign currency.

CurrencyThe Thailand currency is the Baht. One Thai baht is divided into 100 satang, though thetiny golden satang coins are rarely taken or given outside of shopping malls andconvenience stores. Bank notes are in denominations of 1,000 (silver), 500 (purple), 100(red), 50 (blue), and 20 (green). Coins consist of 25 satang, 50 satang, 1 baht, 2 baht, 5baht and 10 baht. Both Thai baht bank notes and coins are sized according todenomination, with larger value notes and coins correspondingly larger than lesser valueones. Visitors may take foreign currency out of Thailand, but no more than the amountstated in the customs declaration made on arrival. Travelers leaving Thailand may take outno more than 50,000 Thai baht per person in Thai currency.

Credit CardsCredit cards are widely accepted, though using a credit card may incur a usage fee of 2-3%which the vendor will typically inform you of before running your card. Furthermore,while most cards give reasonable exchange rates, many credit card companies charge anadditional fee for foreign charges.

TippingTipping is not a usual practice in Thailand, although it is becoming more common. Mosthotels and restaurants add a 10% service charge to the bill. At restaurants, Thais will oftenleave the coins as change, though it’s becoming more common to leave 20-100 baht (up to10%) in addition to coins. Taxi drivers do not require a tip, but a gesture of tipping theleftover change is appreciated, and 20-40 baht is acceptable for porters at hotels andparking attendants.

BargainingFixed prices are the norm in department stores, but at most other shops bargaining is to beexpected. Generally, you can obtain a nal gure of between 10-40% lower than theoriginal asking price. Much depends on your skills and the shopkeeper's mood. Butremember, Thais appreciate good manners and a sense of humor. With patience and abroad smile, you will not only get a better price, you will also enjoy shopping as an art.

ElectricityThe electric current in Thailand is 220 Volt AC (50 cycles) throughout the country.Travelers with shavers, tape recorders and other appliances should carry a plug-adapter kit.The better hotels will make available 110 Volt transformers.

WaterThough tap water in Bangkok is technically safe to drink, the plumbing in certainbuildings may make water inadvisable to ingest. Furthermore, travelers’ unaccustomed tootherwise harmless bacteria in the water could get upset stomachs from drinking ice that istechnically ‘safe’ to consume.

Bottled water in Thailand is recommended as it is cheap and ubiquitous and most ice is safeto consume as it is produced with potable water, with cube ice generally safer than crushedice.

Immigration and CustomsUpon arrival in Thailand, foreign citizens must hold a valid passport with at least sixmonths validity, a valid Thai visa, and proof on onward travel. However, visitors fromASEAN or Western countries, including most European, Commonwealth, and NorthAmerican citizens, are not required to have a Thai visa for visits less than 30 days inThailand.

They will be granted access through Thailand immigration with a 30-day Thai visa waiver,provided upon arrival. After such time, a Thai visa extension from an immigration o ceor a Thailand visa from an embassy or consulate outside of Thailand is required.

Immigration policies are subject to change: check with a Thai Embassy or The Ministry ofForeign Affairs (www.mfa.go.th) for the latest information.

Thailand Currency – What is a Thai Baht really worth?Thailand Currency – What is a Thai Baht really worth?

The Thailand currency is referred to as “Thai Baht” or “฿”

Living in Thailand is considered to be verycheap when it comes to everyday purchaseswith the exception of more expensive goodssuch as cars, motorcycles, etc.,

Everyday living items such as food, drinks,clothing, services are well below what youwould normally pay in other major countries.Many retirees who have made the move to“The Land of Smiles” recognize this and enjoythe bene ts of lower prices when compared totheir own home currency.

So many times I have heard the words, “Wow,this is cheap, back home it would be twice theprice, I’m going to buy this”.

This is absolutely correct, you will get some great deals on most items and services inThailand and you will be very pleased with yourself for purchasing it.

But really, is this true?

The answer to the question is 2-fold:

Yes, it is when compared to your home country.

More relevant is the fact that 'No' is the more likely answer.

Consider this: If you were shopping in your country of origin, would you pay more thanit’s worth? I would think not. The trap many retirees and tourists fall into is thecomparison between the 2 currencies. To fully appreciate the cost of living in Thailand isto always compare a Thai Baht to a (yes, you guessed it) a Thai Baht!

Before outlaying large sums ofmoney for an item that youconsider inexpensive, do yourresearch and shop around indi erent stores or supermarkets asyou would at home. Rememberthis is the currency of Thailandwhere the Thai people use it allthe time. They know a good dealwhen they find it.

Make yourself familiar with local prices on what you will need to retire in Thailand, searchfor quality items at a ordable prices in “Thai Baht”. Not only does it a ord you theopportunity to buy on the basis of the Thailand currency, but it also aids the economy in away that supports the low – middle class Thai person.

Having foreigners comparing currencies continually, and purchasing at in ated pricescreates that “Trickle down process” where over a period of time, prices will rise across theboard hurting the locals.

We have seen many foreigners who have retired here disperse a lot of their wealth using thecurrency comparison to their home country only to nd out later that some of their planswill have to stay on hold until a later date.

The moral of this story, no matter which country you visit or retire to, always relate backto the local rate and use that as the real price.

In Thailand: 33 Baht = 33 Baht, not 33 Baht = $USD1.00

A Baht is a Baht and will be that way forever.

As a reminder, Thailand is renowned for bartering, it’s fun and you can save. Do yourresearch on items you want to buy and then go and have some fun in the Thai barteringsystem.

Enjoy your stay and happy retiring.