Foreigner claims 0% tax after buying 56 million baht Phuket home

A foreign national has claimed on social media that he can live in Thailand tax-free after purchasing a 56 million baht home near Bang Tao Beach in Phuket, drawing widespread attention online. The post, shared on X, showed the individual and his partner announcing they had signed a contract for the “dream home” and asserting that their new status would allow them to pay zero tax on global income while residing in Thailand long-term.

Social Media Reaction and Legal Uncertainty

The claim of 0% tax on worldwide income sparked debate among Thai users, with many questioning whether such benefits are legally possible under current Thai law. Relevant government agencies have not confirmed if Thailand’s Long-Term Resident visa or related schemes actually grant exemption from tax on global income.

The man described his property as a freehold and linked his eligibility to the “Wealthy Global Citizen” status, which he said would allow unlimited stay in Thailand. The post suggested Thailand could rival destinations like Dubai, Monaco, and the Cayman Islands for tax advantages.

Visa Scheme Requirements and Policy Reforms

According to the post, the “Wealthy Global Citizen” scheme is tied to Thailand’s Long-Term Resident visa programme. This visa requires applicants to possess at least US$1 million in assets, earn a minimum annual income of US$80,000, and invest at least US$500,000 in Thailand.

Thailand is currently overhauling its expatriate policies, including reforms to business law, visa regulations, property ownership, and civil rights. The government has announced these changes throughout 2024 and early 2025 to attract foreign investment and talent amid regional competition.

Source: https://thethaiger.com/news/phuket/foreigner-claims-0-tax-after-buying-56-million-baht-phuket-home