Let's discuss taxation, retirement, and social rights for long-term immigrants in Indonesia and Thailand. Indonesia's tax system requires understanding if you plan to settle there long-term. Your income will be taxed based on their income tax brackets.
Correct. And for those considering remote work from Bali, be aware that Indonesia is tightening tax loopholes.
Precisely. A KITAS, a temporary stay permit, is essential for legal residency and tax compliance. Regarding retirement, Indonesia lacks specific retirement visas. To stay legally, you'll need alternative visas, such as investment or business visas.
So, essentially, you need to invest to reside there long-term.
Thailand, conversely, offers retirement visas for those over 50, contingent on meeting financial requirements, such as demonstrating sufficient funds or income.
The classic "show me the money" approach. But it seems straightforward.
However, comprehensive health insurance is mandatory. Thailand prioritizes ensuring retirees don't burden their healthcare system. Taxation in Thailand applies to worldwide income for residents. Income earned internationally must be declared.
Worldwide income taxation is a significant factor. But the lifestyle benefits might compensate.
Both countries present advantages and disadvantages. Indonesia is strengthening tax enforcement, while Thailand offers retirement visas but mandates health insurance. The best choice depends on individual preferences.
It's a matter of personal preference. Indonesia's beaches might appeal to some, while others might prefer Thailand's calmer atmosphere.
This is a general overview. Consult a tax advisor and immigration lawyer for personalized guidance before relocating. Further details are also available at jetoff.ai.
Thorough planning is crucial to avoid unexpected tax liabilities or visa denials.