Presentation to UN Employees Retiring in Thailand
Siam Legal’s managing partner, Kert Stavorn, was invited to speak to a group of United Nations employees Tuesday regarding legal considerations for foreigners retiring in Thailand. He spoke for over one hour concentrating his presentation on the following issues: retirement visas, owning property in Thailand, fund remittance and taxes, estate planning, and investing.
On the topic of retirement visas, Mr. Stavorn discussed the two different types of visas: the “O-A class visa” and “the one year extension of stay based on retirement” visa. He explained the different methods of obtaining the retirement visas, either by application to the Thai Embassy in the retiree’s home country or by applying to convert an existing visa while in Thailand.
He also elucidated issues surrounding foreign ownership of property, including ownership of condominiums and potential pitfalls related to the 30 year renewable lease and property ownership through the establishment of a Thai company. Regarding fund remittance and taxes, the presentation highlighted the benefits of obtaining a foreign exchange transaction (FET) form upon transfer of funds into Thailand, namely the tax free remittance of funds after the sale of property. On the subject of estate planning, Mr. Stavorn discussed the importance of having a separate Thai will for Thai assets which should also be translated into English. The presentation concluded with an explanation of the pros and cons of investing in Thai equities, managed funds, and bonds and debentures.
Mr. Stavorn was among other esteemed guests such as Mr. James Bradley, the Chief of Human Resources Management Systems of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP); Christine Hofer, the Chief of Client Services for New York’s United Nations Joint Staff Pension Fund (JSPF); as well as a representative from TISCO Financial Group. Mr. Stavorn also spoke at the United Nations Asia-Pacific Trade and Investment Week last November 18th through 22nd.
Category: Business in Thailand, Immigration
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Siam Legal is an international law firm with experienced lawyers, attorneys, and solicitors both in Thailand law and international law. This Thailand law firm offers comprehensive legal services in Thailand to both local and foreign clients for Litigation such as civil & criminal cases, labor disputes, commercial cases, divorce, adoption, extradition, fraud, and drug cases. Other legal expertise of the law firm varied in cases involving corporate law such as company registration & Thailand BOI, family law, property law, and private investigation.
