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Thailand

Iglu Umbrella Partnership Program (Business visa)

Unfortunately, Iglu is no longer able to accept new customers.

Requirements


- Be at least 22 years old
- Work in software development, design, or other online, tech / digital-related activity
- Have a relevant university degree, plus two years' experience in your field, or at least five years' total experience
- Have an existing company / client base or ability to find your own clients
- Bill a minimum of $2,500 USD per month
- Ability to commit to a one-year contract.

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is not recognized in Thailand. To become a citizen of Thailand, you must renounce your previous nationality.


Documents Required


  • Original Professional Reference Letter (Not older than 6 month)
  • University diploma
  • Professional and academic certificates
  • Eight passport-size photos
  • Original and photocopy of passport
  • dual citizenship No
  • Family members included No
  • land ownership No
  • Physical residence required Yes
  • Personal visit required Yes
  • Language skills required No
  • Interview required No
  • Investment Single -
  • Investment Family 4 -
  • Minimum annual income $30,000
  • Time to citizenship 156
  • Time to permanent residency 36
  • Visa-free countries 71
  • Financing available No

Country details

Thailand
THB
66
Bangkok
Asia
Thai, English
67,089,500
The Kingdom of Thailand, formerly known as the Kingdom of Siam, is a Southeast Asian country and a member of ASEAN. It is located to the north of the Southeast Asia subregion, bordering to the east and north with Laos, through the Mekong River, southeast with Cambodia and the Gulf of Thailand, to the south with Malaysia and the west with the Andaman Sea and Myanmar (Burma).

Thailand is inhabited by 68 million people, of which more than a half live in rural areas. Its capital and most populated city is Bangkok (also known as Krung Thep Mahanakon), with over 8 million inhabitants, and 14.5 million including the whole metropolitan area. Its official language is Thai, although there are several regional languages and dialects. Its official currency is the Thai Baht (THB).

Visa Free Travel

With your new passport from Thailand you'll be able to access 71 countries visa free
>

Taxes

To be a tax-resident in Thailand you must spend at least 180 days in a calendar year in the country.

Tax residents are subject to personal income tax on their income derived from Thailand and their foreign-source income remitted to Thailand in the year in which it is accrued. Income earned outside Thailand remitted after 1 year is tax-exempt.

Non-residents are subject to income tax on their Thai-source income.

Personal income tax is progressive at rates up to 35% for annual income exceeding THB5,000,000. Expatriates working on companies under certain tax incentive regimes (Regional Operating Headquarters (ROH), International Headquarters (IHQ), and International Trade Centers, ITC) may be entitled to be taxed at a 15% flat rate.

Dividends and interest are subject to a final withholding tax of 10% and 15%, respectively.

Capital gains are treated as ordinary income. However, those obtained from the sale of securities listed on the Stock Exchange of Thailand or any other ASEAN stock exchange are tax exempt, though certain exceptions may apply.

Thailand does not have controlled foreign companies (CFC) regulations, so profits retained in foreign entities owned by tax-residents may not be attributable.

A 12.5% real property tax is levied annually on the rental value of the property. Inheritances over THB100,000,000 are taxed at a 10% rate, though reductions may apply under certain circumstances. A gift tax applies on donations of assets exceeding THB20,000,000 (10 million in the case that recipient is not a descendant, ascendant or spouse).

There are no taxes on net wealth in Thailand.

The V.A.T. standard rate is 10%, reduced to 7% until 30 September 2019).

Regarding corporate taxation, resident entities are taxed on their worldwide income at a 20% rate. SMEs may be subject to lower progressive rates, provided that paid-in capital and net taxable profits do not exceed certain amounts.

Entities approved by the Board of Investment may have tax holidays up to 8 years. Companies under The International Headquarters (IHQ) and International Trade Center (ITC) regimes may be exempted from CIT for up to 15 years, among other tax incentives.

To learn more about Thai corporate taxation, legal framework and tax treaties, check out incorporations.io/thailand.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax Yes
  • Inheritance tax No
  • Net worth tax No
  • CFC law No
  • Tax residency days 180
  • Personal income tax rate 35%
  • Capital Gains tax rate 35%
  • Investment income tax rate 15%
  • Territorial taxation Yes

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