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Nope I did not find pool villas like in Thailand. Like the white lotus 2 in Hua hin https://www.fazwaz.de/immobilie-kaufen/thailand/prachuap-khiri-khan/hua-hin/nong-kae/im-white-lotus-2 There are some villas close to Manila however.

I was not talking about myself...

Correct I am talking about 500K USD tax bill with around 1.7 M USD cap gains p.a. If you wait some years and come to TH to realize your cap gains we are talking some more millions in the first year. Do not get mistaken not everyone in TH is on a 2K USD monthly budget. The incentive to move to Thailand was very big to move to Thailand for some people. In addition you have the rich Chinese and Russians who do not care about ROI they just care to get the money out of their country.

Then it is probably a good idea if you go ahead and ask them yourself and help the forum? Thanks!

However BOI still states remitted income is not taxable which clearly refutes your main argument that nothing can be said by anybody. For me and many others the main alure is the tax exempt status in combination with a 10 year visa. I do not want a 10 year visa for a country that charges 35% tax on cap gains and on top asks me to notarize 200 pages long bank statements.

I fully agree with your post! The point is that some expats without much capital to their name (in this forum) fail to understand that some expats would have to pay 500.000USD p.a. in Thailand as tax. Beforehand they paid zero in PIT. Some posters recommend to just sit back and wait. If you wait until 1 July 2024 or 2025 and this new tax directive/law come to pass you would owe 500.000 USD, so waiting is not a good idea. NB: I know quite a lot of them. The reason I mention this is because some "smart guy" will tell me there are not that many and if they would be that rich etc...

Jim this is exactly my point! You will likely have to prove that the income is covered by DTA! If you cannot prove it or TRD is not happy with your documents they could tax every satang that you send. It is a possibilty, the big problem is that ex post you cannot change the situation and are trapped with a big tax payment. I think it is fairly easy to prove that pensions have been taxed or are covered by DTA. Other income from commingled accounts are very difficult to separate, especially without any TH accounting rules.

The BOI can state for example that LTR provides a blanket exception or it could state that a new law or directive can entail that even LTR visa holders have to pay income tax on remitted or non remitted income. BOI is now stating that remitted income is tax free. They could even state we do not know anything . 🙂

Quite frankly I do not understand your reply. If TRD is not happy with your documentation they could simply tax every satang unless YOU prove otherwise (They will however honor DBAs). Don't shoot the messenger. I am talking about a possibility here. My take is you think about your pension (will not be taxed as covered by DBA) I am talking ww cap gains that have not been taxed somewhere else.

Apparently you are immune to sarcasm...🙃

You need specific laws for accounting rules even if only remitted income were to be taxed. However maybe they decide to just tax every satang you transmit no matter if principal or loss. I agree likeliest outcome will be a postponement but I am not willing to take the risk that I am wrong, so I will not stay in Thailand longer then 178 days (to be on the safe side).

There is definetly not enough time to implement by 2025 but I wonder if they care about that and go ahead nevertheless without any laws, clarifications or accounting rules.

I told BOI to let me know if they do not know the answer to my question which I could understand but then again loss of face. If the royal degree stands and exempts from all kind of income tax on ww income they should know. Anyway I think the final say is with TRD. I just saw a Bloomberg piece about some questions about an interview from Thaksin regarding TH politics and that maybe a change regarding the PM and his coalition is imminent. Instantly I thought about how the Thai elite would like to be taxed on their WW income and maybe it is their doing. Lets hope the WW income tax goes the same way as the 300 Baht tourist tax.

Government pension should be paid out tax free, maybe contact FA Neubrandenburg or the Rentenversicherungsanstalt apparently there are some folks there who do not understand DBAs. Thailand has the sole right to taxation, but TH up to now did not bother to tax the German "Rente", so it is/was tax free.

I used Hanse Merkur expat 5 year insurance. I did not go into extension with the OA as I was only 2 years in TH. I wondered myself that Hanse would sign the cabinet ruling certification but I got it within 24 hours as they are used to it. I can highly recommend hanse Merkur just 59 or 69€ per month and they shelled out more in the 2 years then I paid them without any problems other then it took them like 6 weeks. NB: You do have to have a residence in GER when applying.

But it has the most valuable name to it and I could consider myself elite that in itself is worth it, or not ... 😁

All Emails I received so far from BOI state that ONLY remitted income remains tax free. I have asked 2 times about unremitted income and they apparently can or do not want to answer the question about unremitted income. I now asked a third time about unremitted income being tax free from thai tax. There is nothing special about living tax free in a country with a territorial tax system (PHILS, SG, etc). I think the majority of people with 80K passive income are very aware on how to avoid being taxed on their world wide income. I try not to have any german sourced income while living in TH.

It is my understanding that german government pension is not taxed by Germany. Did you contact Neubrandenburg Finanzamt regarding your taxation? For company pension they may be taxed according to the way they were accrued.

Capital gains are not taxable in the other country so usually no taxes have been paid in any other country, as long as you are not tax resident in the other country. Example: European living full time in TH does not pay taxes on capital gains in any country i.e. Brokerage account in GER or US etc. Beforehand no taxes had to be paid, now taxes of 35% are due on all capital gains after crossing the threshold! Major difference! The idea of bringing hundredthousands of USD per year into Thailand is not a smart one because of possible problems to get the money out again in the future (remember Malaysia back in the days) and also because the investment opportunities are very little in Thailand or the brokerages not up to date with some exceptions. DTAs are not applicable as not a DTA issue (regarding cap gains). Dividends, rental payments may be covered by DTA.

You can use all kind of health insurance countrywise for an OA visa like I did. You just need a signed letter from the insurance company that it is according to some thai rules cabinet decission etc. Insurance company filled it in and it was OK for the thai embassy.

How much are you guys paying for health insurance? In Germany I can get an unlimited health insurance up to 5 years for expats for around 60USD per months. I suspect if you can find an insurance that does not include coverage for the US you could save a lot of money. The only caveat to this insurance is that you have to be a resident of Germany before leaving to Thailand. There are actually 2-3 companies here offering these prices for up to 75 years of age. I will go anytime with 60USD per month instead of having 100K sitting around idle (not to mention having to pay all hospital bills). But just my opinion everyone is different.

Thanks man! This is exactly what I fear could happen! As much as I like BOI, at the end of the day I think it is TRD who decides on how to apply the royal degree. Even if for 2025 they do not tax ww income for the LTR holders there is no gurantee that in 2027 they decide to tax your unremitted ww income from 2026. There is just no way I will hand in and compute a statement of a brokerage account that runs to several hundert pages with exercised options, short sales, futures trading and complicated capital measures in a different currency then the THB.

Maybe someone with fluent written Thai can ask TRD what their opinion is on the LTR Visa tax exemptions? Much obliged!

Possible yes, but I doubt that one spends a whole day or so collecting all the documents and applying just for the fun of it. The only thing that is debatable are if an income is passive or not the rest should be fairly easy, especially as I understand that if you are missing a document you can send it in later. Apparently they are very strict/inflexible on the documents. Same for the OA Visa where you can have 6 digits in a brokerage account in cash but for some reasons (that are not comprehensible to western minds) brokerage accounts are not allowed, only checking accounts to prove 20K and 200.000 USD are not enough cause it is a brokerage account 😉

So you want to tell me that as a retired investment banker that has investments in the UK you do not cross the 3500 Pound p.a. income? That would be (maybe) the exception where you would not be legally obliged to hand in a tax declaration in TH. Apparently you fall in the category of people that do not realize how much the world has changed in the last 5 years regarding KYC . 1. Have you asked your bank if not telling them your new country adress is OK despite the fact that you signed off that you will tell them immediately? 2. So come again what do you do for a living that qualifies you to judge bank compliance? 3. What do you do when the bank asks you once yearly where do you live (as most banks do our days)? You answered 1 question but question 1 and 3 remain unanswered... Does you bank state that it is OK to not update your residence adress. Apparently you own Citibank shares and therefore receive US dividends and profit from a specific DBA either US-UK or US-TH while not being tax resident of that country oh my. NB: I was consulting on KYC not like you working in a department that has nothing to do with KYC.