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The Financial Benefits of Being an
Expat...benjamin franklin style
Welcome to a new regular section in AWOL, concerned
with the serious matter of money! Every week Helen
Couldrey, a financial consultant with the deVere Group,
and also a qualified English lawyer, will give you tips and
ideas of how to take advantage financially of being an
expat. Helen has clients in Bangkok, Hua Hin and ChaAm who she helps to maximise the financial benefits of
living overseas.
MONEY MONEY MONEY
They say money makes the world go round, but what
if you move to a different part of the world? Wherever
you go, it is important to leverage the financial benefits
available to you. Living in Thailand provides some
excellent financial advantages, some more obvious than
others, and no... we don’t mean investing in pineapple
funds!
COST OF LIVING
With London being the most expensive city in the world,
followed closely by Oslo and Geneva, Bangkok offers
much more affordable living ranking at number 143.
And this is just based in the capital city! Living outside
of Bangkok means that you get more Phad Thai for your
Baht.
LOWER INCOME TAX
Benjamin Franklin certainly knew what he was talking
about when he coined the phrase “In this world nothing
can be said to be certain, except death and taxes”. Whilst
paying taxes on income is inevitable, the tax brackets
in Thailand are significantly lower when compared with
countries in the western world, meaning that more of
your hard earned cash stays in your pocket, as opposed
to being churned through the system.
CHA-AM AND HUA HIN
Retirement Planning - Education Fee Planning
Regular Savings - Tax Saving
Lump Sum Investments
Helen Couldrey, BA (Hons), L.L.B, CISI
Contact Helen for a finance review
086 088 2127
[email protected]
TAX SAVINGS ON UK PENSIONS
We’ve handled tax, but going back to Benjamin
Franklin’s gloomy statement…, what about when the
grim reaper inevitably visits?
If you hold a UK based pension then it’s most likely that
your spouse or beneficiary would only receive 45% of
your pension if something were to happen to you. By
transferring your UK pension offshore, your better half
could be left everything that is in your pension pot!
Offshore tax free savings
Thinking of saving for retirement, children’s university
fees, or just for a rainy day? Living as an expat means
you are eligible for tax efficient savings plans. In most
cases the tax on growth sits at an attractive 0%.
And with a potential 0% tax being paid on yours
savings, it is good to know that Benjamin’s Franklin’s
unhappy yet valid saying can be proven wrong in some
circumstances!
It’s just a case of knowing that these opportunities
exist, so that you can make sure your money is working
harder than you are.
9
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