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So now you know that Koh Phangan is the place for you (who wouldn’t want to enjoy all of the good stuff we talked about in Part One?!. Let's get into the details of what you need to know and how life could possibly be. It’s not always going to be easy but it could be worth it….
First things first is you need to know or decide what you will do on Koh Phangan to sustain and support yourself financially.
For people wanting to live long term on the island here are your options:
Get a Job with an existing business
It’s not the easiest thing to do (as most people like to employ Thai locals to save on visas/work permits) but many people have done it and there are businesses who look for the particular skills a foreign worker can bring. So keep your eyes and ears to the ground for job opportunities and make sure they will also provide you with a work permit through the company otherwise you may as well…
Set up your own business!
By setting up and running your own business you will be able to generate an income to survive on and get your work permit through this company.
Do your research thoroughly on what you think the island needs in terms of business though, many new businesses open and close within their first year, especially restaurants.
If you have the motivation to pursue your dreams and talents then you can set up your business as a dancer, musician, Dj or artist etc and work hard and promote your skills to fit this creative island! Of course you will have to check if your skill is allowed as their are some job positions that are exclusively kept for Thai people.
Be retired with a pension or outside income
For those of you who have finished your years of hard-working you may already be getting your well deserved pension! This can act to sustain you, maybe even better, than it would in your home Country.
Have a lot of savings (basically be rich enough you don’t have to work)
Have an income from home such as investments or online work
Other financial incomes where you don’t need to work could be from investments that pay you out on a monthly basis or something similar, or maybe your work can be done online or by phone (lucky you!).
Once you have decided how you will sustain a living on Koh Phangan, the next thing you will need to do is organise the right visa. A Visa is what allows you to be in Thailand and different Visas will mean you can do different things for different amounts of time so it is important you get the correct one.
These are the options and things which will mean you will be able to sustain a living on Koh Phangan all year round, making you different from a Tourist, even the tourists who come for 3 to 6 months of the year are not ‘really living’ on Koh Phangan as they go to sustain and make money for their lifestyles elsewhere for the rest of the year.
Although we may be sounding way too sensible for all you free thinking Phanganists, you do need to know that you will need to have some sort of income to live on Koh Phangan. Living costs are cheaper than other places in the world but as the island and Country of Thailand is developing quickly, so is its economy, meaning that it is not as cheap as it was even 5 - 10 years ago.
In our combined years of experience of permanently living here on the island (20+ years combined) we have unfortunately seen some lovely souls come and go, with all the positive intentions of making the island their home, sometimes people leave in a not so nice way too. This is due to lack of just some simple planning of finances, or not dedicating themselves to work, falling into bad habits and not respecting the way of life here, although it is laid back there are still rules to follow. So don’t get caught in a mess, decide how you will sustain yourself and then all will fall into place much easier.
Now you have chosen the best way to sustain yourself and your life on Koh Phangan the next thing you will need to do is organise a Visa to be able to stay all year round and permanently. A Visa is the thing which allows you to be in Thailand and is one of the most important things.
Join us for Part Three where we explain what type of visa you will need to live here, coming soon!