If you’ve spent much time in places like Phuket or Koh Samui, you might notice that those beach retreats seem to be swarming with tanned, smiling, wealthy-looking Europeans. You see them everywhere: hanging out on the beaches, sipping tropical cocktails, driving fancy motorcycles, sunning themselves on their yachts or coming and going from gorgeous oceanfront villas.
Now, this might cause you to ask yourself many questions including:
“How do they do it?”
“How did they get such a deep tan?” and
“Why am I not living that life?!”
But did you ever stop to ask yourself WHY they are living there? Richard Cayne can offer some insight into the thinking of these high net worth individuals and their motivation.
Sure, they live there because it’s fun and beautiful and relaxing, but they have another reason too. The way that high net worth individuals get (and stay) wealthy is by making decisions based on more than just fun. They make decisions that will grow their wealth with the help of experts like those at Meyer International.
The reason that you see so many rich Italians, Spanish and French people living in Thailand is because, by virtue of living here, they are allowed to invest their money tax-free. You see, Thailand doesn’t tax on income earned from international investments, only on income earned by salary and domestic investments. That’s the real reason so many wealthy foreigners live in Thailand. Sure, they love the easy lifestyle and the friendly people. They might even profess a love of Molam music or spicy som tam salad! But they also love watching their assets grow faster than they would almost anywhere else in the world.
Richard Cayne gave a great example here:
“Let’s say, for example, a European national comes over to Thailand. He’s got $50 million and is earning a 5% return on his money overseas. If you stop to figure that out – that’s $2.5 million that he would otherwise be taxable on in his European home country!”
And that’s why you see so many wealthy Europeans in Thailand. They’ve realized the secret: that they can go and live in Phuket, buy million dollar homes and yachts and actually make money on their lifestyle. It pays to park themselves in Thailand because all of their wealth continues to accumulate tax-free.
By following this plan, they can essentially live a relaxed life in a gorgeous country for free. They can live off of the money they would have been paying as taxes in their home country. Not only that, they save all the money it would have cost to live the same life in Europe, where things are far more costly than they are in Thailand.
Secrets like this are just one tip that can come from working with a financial planning consultant like Richard Cayne or any member of the team at Meyer International. Financial planners can help with every aspect of your financial health from paying taxes to investing, expat health insurance, consultations on life insurance and more. Isn’t it time you got your financial future in order?
To find out more investment secrets, get in touch with Richard Cayne at Meyer International today.
