Previously, foreigners actively purchased property in Phuket as an investment. This was understandable, since local properties provided a relatively high and often guaranteed income. However, during the pandemic, we are seeing the emergence of a new trend: families from Russia, Kazakhstan and other countries are thinking about moving to the island in order to spend most of the year there, conduct business from this place and provide education to their children… The flow of expats has increased significantly in 2022. Svetlana Kasatkina, managing partner of Exotic Property, shared her recommendations on preparing for relocation and relocation in her interview.
Why do people go to Phuket?
The flow of expats from Russia, Kazakhstan and other countries continues to grow. We currently meet our managers’ clients at the airport weekly and arrange transfers for them to help them settle into Phuket.
From the stories of the newly arrived, it becomes clear that the main purpose of their move is the desire for stability and the desire to provide a quiet life for their families and children.
The other day we had a long conversation with one of the clients, who admitted that the only thing he can currently do is monitor his sleep, eat right and go to the gym. It’s the only thing he can control. The rest remains unknown, and no one knows what tomorrow or in a few years will bring.
It is with this mood that people decide to move. They choose friendly Asia, in particular Phuket, to find peace here, look around and start a new life. Some open a business here, others work remotely, and their children attend kindergartens and schools. The main thing is that in Thailand they can restore a sense of calm, security and start making plans for the future.
However, not everyone can afford moving to Phuket due to its high financial costs. It is the most expensive province in Thailand, especially given the current rise in prices for rent, transport and food. By the end of the year, prices will probably rise even more.
Quick move
However, the opportunity to move is provided quickly.
Thailand is a visa-free country for Russian citizens. Previously, it was allowed to stay in the country for up to 30 days, but from October 2022, the period was increased to 45 days (one-time border crossing and the opportunity to extend the visa-free stay for another 45 days). This time is enough to master the place and obtain a long-term visa.
In addition, as of October 1, all coronavirus-related restrictions have been lifted. No more masks, tests or vaccinations required – as if the disease never happened. So you don’t have to worry about it before your flight.
There are currently no direct flights from Russia, but our clients reach Phuket with transfers via the Emirates, Qatar or Kazakhstan. Starting October 30, Aeroflot plans to resume direct flights to Thailand, including the Moscow-Phuket route, with up to two flights a day promised.
I recommend bringing your marriage certificate with you as it may be required for some types of visas. Also, if you have the opportunity, get an international driver’s license – then it will be easier to exchange them for local ones. However, at least as far as I know, no criminal record certificates are required here. As for real estate transactions, they only need a passport.
We have a Russian consulate in Bangkok and a consular department in Phuket, so documents can be certified right here.
What about housing?
Many of our clients who are now moving to Phuket already own property here. It seems that in recent years they have been mentally preparing and looking for a place to move to if necessary.
Many make drastic and spontaneous purchases, taking a one-way ticket and then deciding where to stay when they arrive. During the spring and summer, all ready-made villas that were on the market were sold out. Everyone is looking for options where you can immediately start living. If you do not have a property or it is not yet completed, it is recommended to rent. You can start your search online, but it’s best to have a trusted person on site who can inspect the options in person, as reality often differs from photos.
There is a shortage of objects for rent only in the economy class. Apartments in the resort area, costing up to $1,000, and in the center of the island, up to $500-600 per month with an annual contract, are now in great demand. Business and premium lodging can still be found, but keep in mind that demand is strong right now and prices have risen compared to last year, when restrictions were in place due to the coronavirus.
Some of our clients do the following: they buy real estate in the resort area as an investment, and they themselves rent housing in the center of the island (for example, Phuket Town or Kata), where prices are lower, and there is also all the necessary infrastructure for permanent residence.
What about visas?
The most common visas issued by our clients are as follows.
⦁ Thailand Elite is a residence permit in Thailand for up to 20 years, which can be obtained by paying a fee. This government program offers several options with different prices. In my opinion, the most advantageous is the 20-year visa for 1 million baht, which is 50,000 baht per year ($1,350). It is even cheaper than applying for a student visa. Thailand Elite members also receive an additional set of VIP services, including concierge service, transfers and expedited passport control.
⦁ Business visa – you can get it if you got a job or opened your company in Phuket.
⦁ Custodial visa – it is issued to parents of children who study in Phuket. It is important to note that only one guardian visa can be obtained per child, and the other parent must obtain a residence permit on a different basis.
⦁ The student visa is for anyone studying in Thailand, including children who attend schools and adults who frequently enroll in language courses. There are many language schools in Phuket that are popular with foreigners of all ages, and you can study English or any other language.
⦁ A retirement visa can be requested by foreigners who are over 50 years old and who provide a certificate from a Thai bank on the presence of at least 800 thousand baht ($ 21.5 thousand) in the account.
⦁ September changes in Thailand introduced a new category of ten-year visas for investors who have invested at least $ 500 thousand in real estate or government bonds, as well as for wealthy retirees and highly paid
What’s with the money?
Foreigners can open a bank account in Thailand. To do this, you need to conclude a contract for the purchase of real estate or have one of the long-term visas. Some banks also offer the possibility of opening an account for tourists, but in this case, you will need to purchase insurance and provide additional documents. We help all our clients with account opening and there were no failures.
With a Thai bank card, you can make payments anywhere in the world. You can also transfer money from Russia to this account.
Thailand has Western Union, MoneyGram and Vipchanger payment systems. Many also use cryptocurrencies.
What about schools?
Based on feedback from our clients, we are noticing a significant influx of children from Russia currently attending schools. Some classes even have waiting lists.
If you are moving with your children in the coming months, it may be difficult to get your child into school. However, these difficulties can be overcome by paying more (expensive schools tend to have fewer students and more places available).
As for kindergartens, there will be no problems finding a place.
What about medicine?
Medicine in Thailand is at a very high level. The country has long been developing as a place for medical tourism: clinics are well equipped, doctors speak English, and large hospitals have Russian translators.
All medical procedures are paid and quite expensive, so I recommend that you provide yourself with insurance. As a first step, you can take a regular Russian travel policy, but for greater reliability, it is better to contact Thai insurance brokers and take out international insurance (for example, AXA, AIA, Buppa). In addition, when you open a bank account, you may be offered to take out accident insurance.
What conclusions can we draw?
Phuket is the perfect place to move. Here you will find everything you need for a quiet life, a successful business and the education of your children. The visa policy is friendly, medical services are top notch, and the climate is considered one of the best in the world.
Of course, immigration is always stressful, but in Phuket we try to minimize it. We are ready to help our clients not only with the purchase and maintenance of real estate, but also with the resolution of all issues related to the move. Contact us! We will gladly provide you with advice.
