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falang07

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Posts posted by falang07

  1. I am 100% sure it must be a NEW condo because the only reason of this visa is to support the selling of new units (they do not care about units that were sold already, they need to sell new units to help the developers/employment, not to help the sellers of second hand units).

    It is much better to just transfer 10M Baht and apply for this visa using a fixed deposit in a bank since this way they would risk losing your investment if they did not give you the investment visa. If you bought the condo already, the fish is already caught and they are happy already.

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  2. Why would be that illegal? Visa agent services must be legal, they are advertised all over the town. Standard service for a mutually agreed fee, nothing illegal in here (you still have to meet the requirements like money in your account, etc.). Just do not have to bother dealing with the immigration, etc. Japanese business men do it this way only, I often see an agent coming with a stack of Japanese passports.

  3. So called Freelancer is a very gray area right now. Digital nomads, internet bloggers etc. I doubt you will find any good precedents about getting some sort of valid work permit approved. If looking for something that will allow you a good visa to stay in country for extended periods, you might look into the Elite Visa. That can certainly get you a 5 year Visa. There is quite a bit of doubt as to what working as a free lancer really means and if work permit regulations apply. (I am presuming some sort of internet work is what you have in mind).

    Elite Visa definitely does not allow any working so it is useless in this case.

  4. When the exchange rate is good, I buy/sell THB. Now that EUR is low against THB, I do not buy THB but instead live off the THB I have exchanged when it was good. And I will buy more THB again if EUR gets over 44. So yes, I did it and will continue doing it regularly so I do not see any reason why anyone else would not do it, too. It made pretty good sense 9 years ago to buy THB.

    What makes you think Euro will be over 44 anytime soon?

    Did I say anytime soon? I will just do it when it happens, 1 year of 5 year or whenever.

  5. KTB offer 3.9% on a 10 month deposit http://www.ktb.co.th/en/news_promotion/3_financial_products.jsp

    Thanachart manager told me they will be bringing in new rates this month - over 3%

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  6. When the exchange rate is good, I buy/sell THB. Now that EUR is low against THB, I do not buy THB but instead live off the THB I have exchanged when it was good. And I will buy more THB again if EUR gets over 44. So yes, I did it and will continue doing it regularly so I do not see any reason why anyone else would not do it, too. It made pretty good sense 9 years ago to buy THB.

  7. So if you reread my original post, I said that instead of buying the condo, he should have just bought THB at the very good exchange rate of 42. I did not say (as you imply) that he should have kept the USD at that time of good exchange rate and only change now when the exchange rate was not that good like before.

  8. So second hand condo prices are rising in Thailand? Now that is a news for me smile.png At 4% per year (and I bet there were even better bargains 11 year ago), it is 440,000 THB a year, do not tell me you can not rent a decent condo for this. Having exchanged at 42 and selling now at 33, he would have made much more and no hassle in trying to sell an old condo in an market with a huge surplus of new units in new buildings.

    Another thing you fail to realize that if he did not buy this Condo for 11M Baht when he did 9 years ago, he had no reason to exchange this amount of USD into Thai Baht. So there is a better than good chance he would have kept it in USD.

    Today, the same amount of USD can only buy 8.9M Baht. So how much would he have gained again by doing it your way?

    Sure! It is always easy to say you could have done this, or you could have done that, when you know the future. Don't we all wish we knew what Apple Computers was going to do 9 years ago. Or when Bill Gates started Microsoft and you could buy his stock over the counter for pennies share in the late 70's and early 80's. Or the exchange rate of the Thai Baht. But we didn't know....until now.

    My point was this: 9 years ago, instead of buying the condo, buy THB at the very good exchange rate of 42 (11M Baht would be 261,904 USD) and keep it in the bank at 4% (and I am sure there were much higher interest rates at that time, perhaps even 8% for amount like this on long term deposits). Today, after 9 years, you suddenly have got 15,7M Baht, and if you change it back to dollars, you have made a fortune, too, since at the current exchange rate of 33 you would get 474437 USD. That is a breathtaking profit of 181% in 9 years.

  9. So second hand condo prices are rising in Thailand? Now that is a news for me :) At 4% per year (and I bet there were even better bargains 11 year ago), it is 440,000 THB a year, do not tell me you can not rent a decent condo for this. Having exchanged at 42 and selling now at 33, he would have made much more and no hassle in trying to sell an old condo in an market with a huge surplus of new units in new buildings.

  10. Get back to 42 (per USD), when I came to TH 11+ years ago

    Indeed. That's when I bought my 11M baht condo and saved lots of money.

    how do you save lots of money by buying a 11M condo? You would have saved a lot more having exchanged the USD at that time and keeping it in the bank at 4% per year or more :-)

  11. From Citibank Singapore Ltd on their Digital Bank (online offshore account):

    DISCLAIMERS

    Not Bank Deposits • Not Bank Guaranteed • May Lose Value • Not Insured products and not subject to the
    provisions of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 of Singapore

    Does it mean the offshore account is not covered by the Deposit Insurance?

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