AMYN’S GUIDE - RELOCATING TO THAILAND

By: Amyn Ghulamali

If you would like to relocate, retire, work or conduct business in Thailand then you will find this guide extremely helpful.  As someone with first hand experience, this is the best guidance that I fell could benefit everyone.  (Please note that the content below is updated only till the date of publication of this post – if you want more specific details then please contact me directly through email) – amyn@ghulamalis.com

WHY THAILAND? 

The country, thanks to its national flag carrier Thai Airways is the major connecting hub for travel in the region.  Everyone, mostly connects through Bangkok to other countries in the region.

Here you have all kinds of vegetables & fruits and lovely scenery, & the weather is awesome. The people are lots of fun and liberal.  They really don't care what you do as long as you don't upset society and chill out.

When it comes to work the men are eager & willing to work & learn also to help you succeed as they believe that if you as a foreigner are making money in their country then their whole economy benefits. The ladies are equally strong to help an eco-system where everyone makes money.

The economy is simple & affordable based on the principles of humility and no credit only get what you can afford & the ASEAN REGION is the next big thing as it is a conglomerate of many power economies (including super powers that be) who are more efficient in production & innovation & can control their cost of goods sold.

The Thai exchange rates are stable, their banking processes are clean and clear and simple, even though bound by strict regulatory bodies that stop any form of financial problems whilst in the middle-east there is constant drama due to a culture and a people dependent on the US Dollar and geo political stability that leave the region in a perpetual state of uncertainty. The volatile environment basically fueled by emotions / strange customs & a dual Shariah (Islamic) system that seems biased to the hosts and often confuses & scares some foreigners away.

The Big Apple (Manhattan Island) was known as the melting pot of the world – I guess we can call Thailand the new melting pot of the world because of the peoples acceptance of any and all forms of diversity as long as it is not forcefully imposed upon others or cases a threat to the safety of the people or the environment and does not belittle their culture, religious & ethical beliefs.

Forget business, this country is a fantastic environment for your children as kids have this ability to inwardly digest information more rapidly than adults. When they graduate from university, it really will not matter where they graduated from as employment opportunities are reducing rapidly due to the reality of evolving technology around us. 

What will work for any college graduate is the ability to communicate with people in the future in their own culture and language so if your children know the languages & the culture, they will be one step ahead of everyone else in any professional environment.

I could go on, but the list of benefits would be endless, so let’s move onto another topic that I believe would be simpler & easier to understand.

HOW TO RELOCATE TO THAILAND - (Simple guide for dummies!)

I have consulted with many people & guided them over many years & the most irritating sentence I painfully smile at is; “My buddy / uncle / relative / friend / brother etc. did this or that!”

People seem to fail to understand that even if you have five fingers on one hand, they all serve a different purpose.  In my career as an international consultant operating out of mainly the middle-east, UK & Europe and then the two American continents over many years often I have come across cases that are identical but the government requirements may be different due to technicalities or the date of your application as the laws could have been revised along with the policies of the government.

Unlike the middle-east there is a hassle-free no drama at all process where  the requirements are technical (NOT complicated) and all you need to do is go directly to the government it’s self – (Official website of the Government of Thailand that will answer any and all questions you have or need - https://www.boi.go.th) the government website is in Thai as well as English and covers any detail you would need.

Do not go running to the first answer from an advertisement off a Facebook or social media post no matter how official it may look. Only rely on the Thai government and the information it provides directly from its website.

Even if you have visited this wonderful country several times as a tourist or for other reasons and you have so called friends or buddies here, my advice to you is to sit down and make a 5-year plan for yourself.  (Too much of any good thing can be bad for you so what do you want to do here when you relocate) Make sure you have three solid plans for yourself that are separate and then four more back up plans. A total of seven plans for the next 5 years of your life.

Ensure you put in the income you have and will bring with you and run a conversion to what you think your cost of living will adding a margin of at least 27% appreciation to your cost of living annually. (Yes 27% - why? – after Covid Thailand is now rapidly appreciating in value and you need to factor the tourist sporadic cash injections into the economy)

After you have completed these plans on a computer – let them be for two weeks and not look at them.  After two weeks go through them and add any requirements or remove anything you would not need and finalize it.

After that, plan a 30-day trip to Thailand but come here with an intent to be serious and keep a budget of approximately $US 4,200/- this will only cover the cost of your hotel, food & transport within the country so that you can take your time and meet with government officials and people & you need time for that.

(The US$ 4,200/- stated is an expected average cost for 4-star comfortable living in a studio apartment with breakfast in the main Sukhumvit (business/ tourist) district of Bangkok – this quoted estimated average cost does NOT include the cost of a return flight.  The cost of any parting you wish to do is also NOT included. (If you are here for a business purpose, or for the purpose of having a better future then I recommended you be serious and do NOT party at all)

When you are in Thailand you may visit any accredited law-firm (there are many and their reputation precedes them) & consult directly with the lawyers that will help you.  Do not worry about language issues or problems because most of the accredited and respected law firms that have a good reputation publicly also have English speaking staff. (Basically, they have lawyers that are from the best foreign universities that can communicate in many languages)

Once you have gotten your information and understood that you only made seven business plans for yourself BUT there are so many more options that are affordable and easy to understand for you, I am sure you will want to commit to the new dream within your reach. But STOP!

Pack your bags & go home.  Then sit down once at home and re-work all your finances because this life will be a commitment and you are no longer in a college frat house embellishing the bank of dad where you only make withdrawals 24 hours of the day. 

If you have already decided and sorted your financial planning then ok proceed with the process of setting up your life in Thailand whilst you are in the country to save time.

If you have not sorted thing out then GO HOME. It will be less emotionally & financially expensive to go home than to sort your stuff out remotely.  (Speaking from experience)

When you come back to finally start your process to stay make sure you have a budget for 90 days set aside so that you are not a parasite on yourself or society and can pay for your own way.  Nobody will help you so keep that fact in mind as with the global economy being volatile after the Covid pandemic everyone and every company is in survival & NOT growth mode!

There are many businesses that a foreigner can do / invest in and the best most update resource for this direct and authentic information is (Again) – Official website of the Government of Thailand that will answer any and all questions you have or need - https://www.boi.go.th

If you would like my personal guidance or advice as a foreign consultant that knows the middle-east & ASEAN country regulations then please understand that I work along-side accredited law firms only because they are licensed by their respected governments such as Thailand, Malaysia & Indonesia etc. that are welcoming foreign human resources (technocrats) & business investors

IF YOU HAVE READ SO FAR ....

To those who know me in person, this blog post should NOT be a surprise for you!  To the first-timers, that are reading this, understand that, today people are overwhelmed with electronic junk & don't have time to read things in detail.  When they find a flaw they continue to read with an intent to reply (correct the other person)

I would like to request the same people to revert back to the first line and read this post again - (this time inwardly digesting the message behing the text) 

Nope! I do NOT require your suggestions to change anything as the spellings & grammatical errors are put there on purpose to get readers like you so far - (My work is done!) 

Relocate to this region NOW whilst you can afford it in your own currency! Good luck! &, I wish you well! 

If you would like any further, help or advice, do connect directly with me!

 

Hit me up and let’s be professional friends! - I really hope we can do something wonderful together to appreciate each other’s professional lives! - https://www.linkedin.com/in/amynaghulamali/

(Do check out my LinkedIn profile.!  Please see my endorsements & professional recommendations) 

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For a direct consultation please contact me via e-mail - amyn@ghulamalis.com