falang07

Just out of curiosity, what is the reason for using such a small format for the bricks in Thailand? Must a pain in the ass to work with (slowish).

Yeap, probably better to put your money in a sock under your mattress....or keep it in another country where financial problems have never or will never occur.

Unfortunately there is no country in the world where the paper is backed up by something with a real value, like gold, as we have seen in the EU recently.

If you think your big money is safe in the bank, it is not. The bank loans the deposits with a leverage of about 1:10 (or even more?) so in case of a trouble (for instance if depositors suddenly try to withdraw 10% or more of their deposits), the bank is effectively bankrupt.

Still Bt50M thru 10 Aug 15...to Bt1M 11 Aug 16.http://www.dpa.or.th/more_news.php?cid=42&filename=index___EN

Well, believe what you want but a government insurance is not worth much in case of a big trouble. You might have 50M in the bank and wake up in the morning with a new law lowering this to 1M with no way to take it out to prevent money outflow, like in Cyprus where they can take 300 euro per day only.

my property = my right to work on it

I, on the other hand, do not see any problem with the OP's intention. The spread between buying and selling gold in Thailand is way lower than in most European countries. Safety boxes in the banks are readily available, I remember renting one on Koh Samui on a tourist visa without even opening a bank account in the bank (it was a yellow bank) in Lamai.

maybe something like in here: www.megeshelters.com

build a house that can be moved... I am surprised no one has yet come with a good business plan in this ideal market for such a product

With so many new developments, no Thai will accept such offer unless it is well below the standard price.

The hard way is to wire it back, convert to another currency and wire back for conversion in a Thai bank. Should the exchange rate move in the right direction, this can be even profitable, but most probably you will loose some money on the exchange rate differences.

The easy way:- transfer the money out and back, hopefully in Baht so no issues with exchange rate.

The hard way:- not sure about the hard way

If you wire it back in Baht, no foreign exchange certificate will be issued either so this will not solve anything.

Selling a house on leased land to a Thai national is out of question, they will not buy it without the land (would you?)... and if the land owner will not want to sell, you are doomed, after 30 years you can either demolish the house (can be costly having to get rid of the remains), or just keep it to the land owner.

Gold is one of the sexyist investments available: Up and down, up and down, up and down. Whew! Would that make JP Morgan analogous to the Manhattan Madame?

well, something that goes up and down, up and down, up and down forever enables for much higher profits compared with a simple long-term investment (provided you know how to benefit from the down slopes, as the market-makers do)

so the answer might be to buy in chunks of £9,999

here's another link on Norway taxes:

max income tax rate 47.8%

sales tax.......... 25.0%

social insurance tax 7.8%

http://en.wikipedia.org/wiki/Taxation_in_Norway

Yes, so healthcare and education is "free" in there, same like free sex in a marriage

 

We pay an average of 25 % tax . Education is free . Healtcare is free . Food is cheaper in the US ( been there several times) Electronics are the same price as in US .I can also inform you that the average gross salary in Norway is 470.000NOK. Which equals €64.000/$82.000. In comparison the average salary in USA is $46.000. And it is a safe place to live . [/size][/font][/color]http://www.prosperity.com/Ranking.aspx#

And the whereabouts of Norway, well here is a link :http://www.youtube.com/watch?v=sm8o61Go964&list=PL76FD7DD7E20EE85B

 

Then why did you come to this miserable country called Thailand and did not stay in that perfect country of yours? That says quite something about the reality in Norway

logical conclusion: the U.S. will never export a single barrel of crude unless it is so heavily subsidised that it hurts.

Of course, why would they sell oil for some worthless paper that only they have the right to make out of thin air in unlimited quantities?

Used car prices has gone down 30%. Maybe not the dealers asking price, but for sure the price the dealer will offer to pay, for your second hand car. For this you can send thanks to the PTP government, for their last years 100000 THB first car discount. Now there are 1 Million too many cars in the market.

Bullshit. Part of the deal to get the rebate was that the owner can not sell the car for a few years (6 or 7?)

I suppose it is a very big problem. I could also throw away my passport and say that I was born and raised in here, but no one is going to believe me, it is usually impossible to prove in cases like this.

There are other countries nearby that pay well over your mentioned 3% savings earnings for fixed account. Currently 9% on a 12 month

Would you mind giving examples?

Prasac in Cambodia is paying 9.75% for a 12 month term deposit in Riel, 8.5% in Thai Baht and (either) 8 or 8.5% in USD.

This might be quite interesting considering the fixed tie between riel and dollar, with the option to change to dollar anytime. Anyway, the reliability of the banks in there is another question.

Thank you for the information, Arkady. The option to use flat rate of deductions is definitely preferred for online services since the real expenses are pretty low with the added advantage of not having to do any accounting. I could make B1m per year and still pay zero tax (flat rate deduction of around 80% + the personal allowances of almost 200,000 per year). This is the way to go for sure.

I have one more question: what about a sole proprietorship for a foreigner providing translation services in a foreign language that is exotic in Thailand and no Thai can speak/understand it. Would this be possible?

Well, 65-85% sounds even better Yes, he is Thai working as a freelancer.

This world must be really crazy. So the financial markets are just before a collapse and that is supposed to drive the price of gold way down. Well, I am not an economist, however, it seems to me as a total opposite of what should be happening.