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Thailand and Singapore are close geographically, share a hot, humid climate, and both are popular destinations for expatriates. Beyond these superficial similarities, however, the two countries are very different. Thailand: Laid Back And Cheap If you’re looking for a laid-back and inexpensive tropical lifestyle largely free of "Big Brother," in an environment friendly to westerners, Thailand is worth considering. The official language is Thai, although English is widely spoken, particularly in the major cities.  In the Thai language, the word Prathet Thai (Thailand) is literally translated "land of the free." And freedom is a big reason why Thailand is a popular expat destination.  The only country in Southeast Asia that was never conquered by Europeans, Thais don’t generally have the anti-western attitudes that prevail in some other Asian countries. And Thailand, with its overwhelmingly homogenous Buddhist population, has suffered little of the ethnic, racial and religious strife that plagues many countries in the region.

Bangkok

Tourists from most western countries, including all EU nations, the United States and Canada, can visit Thailand for up to 30 days as tourists, without obtaining a visa. 

The cost of living is very reasonable—in part a consequence of a collapse in the value of the Thai currency, the baht, in 1998. Indeed, you can still rent a nicely furnished room in Bangkok for B3,000 (about US$70)—per month. Want something a little larger? No problem—the going rate for a two-bedroom townhouse is only about B8,000/mo. (US$190). 
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Karon Beach, Phuket, Thailand

Thailand is a shopper’s paradise, with superb woven goods, silks, gemstones and amazingly intricate wooden carvings all specialties. Food is plentiful, cheap and extremely good. Excellent health care is available at rock-bottom prices. And there remains a fascination among native Thais of westerners.  Be wary of Thailand’s dark side, though. In recent months, Thai police have compiled lists of alleged drug dealers (and others) and engaged in brutal arrests and, in some cases, alleged killings of these individuals.  Another downside of Thailand is that it isn’t a hot place to invest right now. This wasn’t always true—in the go-go 1990s, Thailand was considered one of the Asian "tigers" and its stock market boomed. Today, the SET index remains 70% below its 1995 peak. Thailand’s entire stock market cap is less than US$40 billion, less than one big U.S. company. Despite these depressed values, investors should be careful before picking up Thai shares. Neil George, a member of the Sovereign Society Council of Experts recently issued a "sell" recommendation on the Thai Fund (NYSE: TTF).

Sound worth a look? Here’s a rundown on the requirements to live in Thailand. 

If you want to work in Thailand—and just about any native speaker of English can easily support themselves teaching English at one of Bangkok’s many foreign language schools—you must obtain a non-immigrant visa category B (business visa) before entering the country. This is valid for 90 days but can be extended up to a year. This visa also permits you to eventually apply for permanent residence in Thailand and, after 10 years, Thai citizenship.

There are many other categories of visas, including investment visas for qualified investors. Application can be made to the Board of Investment or the Immigration Department.

Unfortunately, the granting of work permits and the extension of business visas can be a lengthy process. However, persons who are sponsored by a Thai employer may receive a work permit and immigration extension in three hours at the "One Stop Service Center" upon completion of the proper application.

Thailand also welcomes self-supporting retirees. You must obtain a certificate that you are in good health; have no criminal record; and have sufficient income to support yourself in Thailand. This is currently defined as having B800,000 (US$19,300) in a Thai bank account or a monthly income of B65,000 (US$1,560). 

The Thai tax system is relatively simple, although Thailand is not a tax haven. However, offshore income not remitted to Thailand is not subject to income tax. If you spend more than 180 days in Thailand in a calendar year, you are considered resident for tax purposes. All earned income derived from Thai employment is subject to Thai personal income tax. You must also pay income tax on foreign source income remitted to Thailand. U.S. citizens living in Thailand who are subject to double taxation can obtain relief under the U.S.-Thailand tax treaty.
 

For More Information Thailand Board of Investment. Link: http://www.boi.go.th/ One Stop Service Center. This government office provides expedited services to obtain a permit to live in Thailand, but only to foreigners sponsored by a Thai employer. Address: 207 Rachadapisek Road, 3rd Floor, Bangkok, Thailand. Tel.: +(66) 2-693-9333-9.  Immigration attorneys. Most large international law firms in Thailand don’t deal with immigration matters but Changmai Law Services does. Refreshingly, this firm even posts its fees on the Internet. The cost for a retirement visa, for instance, is B8,000 (US$190). Link: http://www.chiangmailaw.com. Escape Artist Thailand. Links to articles about living and investing in Thailand. Link: http://www.escapeartist.com/Thailand/Thailand.html Singapore: The World’s Most Efficient Expat Haven In contrast to laid-back Thailand, the tiny island of Singapore is rigorously efficient. It’s also one of the world’s cleanest places with an extremely efficient infrastructure and high quality of life. The price for this efficiency, though, is one of the highest costs of living in the world, along with a hefty dose of Big Brother. Singapore’s modern history began in 1819 when Sir Stamford Raffles claimed Singapore for the British Crown and the East India Tea Company. Since then, Singapore has built on that infrastructure to become one of the most technologically advanced societies in the world, with an excellent communications system, political stability and a disciplined work force. And in 1965, Singapore achieved independence and is now a bustling city-state of nearly five million inhabitants.

Singapore

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Due to the British legacy, English became the language of business and administration, and remains today the common language spoken and understood by nearly everyone in Singapore. (The other three official languages are Malay, Mandarin and Tamil). 

While the island has no mineral wealth, it does have a superb deep-water port and a strategic location along one of the world’s busiest sea-trading routes. Today, Singapore is the world’s busiest port, with over 600 shipping lines, and is a center of shipbuilding, ship-repair and oil-rig building. It is also a huge oil refining and oil distribution center, a major supplier of electronic components and a major player in the Asian financial services industry. 
For the most part, foreign investors are welcomed, although all foreign investment requires government approval. In addition, non-Singapore citizens may not own equity interests in local banks and the ownership of newspapers is subject to legislative control. Other sectors where foreign investments are limited include telecommunications, broadcasting and property ownership.
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Skyline of Singapore

Another factor making Singapore competitive is low taxes. The top personal and corporate income tax rate is 22% and the government plans to cut both tax rates to 20% by 2005. Singapore also has tax treaties with most major countries to avoid double taxation. This makes it a suitable base for multinational corporations with operations in high-tax countries. As a "treaty haven," Singapore permits multinationals to form entities there through which profits can flow and qualify for lower withholding rates under its treaty network. As a result, Singapore is a popular base of operations for intermediary holding, finance and licensing companies. Tax incentives are also available for export-oriented businesses and other sectors the Singapore government wishes to encourage. These incentives have the effect of reducing tax even further. Singapore also has a 10% tax rate for trust companies and for managing, servicing or underwriting foreign securities issued from Singapore by non-residents. Non-resident depositors pay no withholding tax on income or dividends earned in Singapore bank accounts or offshore funds purchased through Singapore. And like Thailand, foreign income that is not remitted to Singapore is not subject to personal or corporate tax.

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Because of its prosperity and the high wages paid, Singapore has become a haven for well-educated immigrants. The government has an open immigration policy and seeks qualified foreign workers in many different fields, including banking, finance, biomedical sciences, communications, education, electronics, engineering, healthcare and information technology.

Wealthy retirees, particularly from Asia, also use Singapore as a residential haven due to its territorial tax system. Residency permits may be purchased for approximately US$800,000.

After a period of residency ranging from two to six years, it is possible to obtain Singapore citizenship and passport. The shorter two-year expedited citizenship is available to individuals that the government classifies as "professionals, entrepreneurs, skilled personnel and other qualified persons." Otherwise, you must reside in Singapore for six years before you can obtain citizenship and passport.

That’s the good news about Singapore. The bad news is that Singapore is one of the world’s most regimented societies. Political opposition to the ruling party is strictly regulated. Both the print media and the Internet are heavily censored, and the death penalty is mandatory for drug trafficking, murder, treason and certain firearms offences. Even the use of computer encryption is restricted; police have the power to fine and imprison computer users that do not provide encryption keys or the plain text of encrypted files or communications to authorities. 

All cars and motorcycles in Singapore must be equipped with a special transmitter, which beams information to authorities on the location of the vehicle. Possession of a national ID card equipped with digital thumbprints is mandatory. By 2008, Singapore plans a transition to the world’s first entirely cashless society, where coins and bills are replaced entirely by electronic money transactions, all instantly linked to government databases. 
These innovations have undoubtedly lowered crime and made Singapore a cleaner and more efficient society. This is undoubtedly an attraction for some, but not for those individuals looking for a haven that, above all, respects civil liberties.

To travel to Singapore, you don’t need a visa if you’re from the United States or a EU country. You can stay from 14-31 days, depending on what country you’re from, and extensions are available. 

For More Information

Singapore Economic Development Board. "EDB acts as catalyst and facilitator to nurture a vibrant, self-sustaining enterprise ecosystem, a conducive total environment for startups and companies of all sizes." Link: http://www.sedb.com/edbcorp/index.jsp. 

Singapore Tax Authority. Complete information about taxation in Singapore. Link: http://www.iras.gov.sg/
Immigration and Checkpoints Authority. 

Complete information on immigration, residency and citizenship in Singapore. Link: http://app.ica.gov.sg/index.asp.

Summary of Singapore tax incentives. Link: http://www.kpmg.com.sg/services/sg_tax_incentives/sg_tax_eei.pdf
Legal representation in Singapore. David Chong, 6 Temasek Boulevard, #09-04 Suntec Tower 4, Singapore 038986, Singapore. Tel.: +(65) 6224-0955. Fax: +(65) 6538- 6585. E-mail: dclaw@singnet.com.sg.
Escape Artist Singapore. Many links to articles about living and investing in Singapore. Link: http://www.escapeartist.com/singapore/singapore.html.

*This article comes from the Sovereign Society, to read more about the Sovereign Society Click Here
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