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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 questions 2 but question 1 and 3 remain unanswered.

Thanks for your post! This statistic is really a sad joke. Not only are the applications very low but the decline rate at about 50% is very high. Considering that we are talking about supposedly sophisticated applicants that are in the range of 80K plus USD yearly or (nearly) jump other high hurdles something is wrong here IMHO. Did anyone get any feedback from TRD or BOI regarding the exemption of all ww income (pending the possible law change in 2025). I just got an reply from BOI that the remitted income is exempted. No idea what will happen if TRD claims non remitted income has to be taxed from 2025 forward. I think TRD does not care nor have to care what BOI states. The sole arbiter what is taxable is the TRD. If Thai RD states all ww income is exempted the LTR visa is by far the best option. I am really glad that my plan is to apply in 2025 or 2026 so I can see how this plays out.

Regarding not being able to read a post: where have I stated that not filing a tax return is a tax evasion (it could be if you have taxes to be paid). Questions 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)? Bonus question: wa

You use a DTA via the bank to claim a beneficial withholding tax automatically when you receive a US dividend. You get 15% witholding on a US dividend in claiming UK USA DTA. You signed a contract with the bank consenting that you will update your bank information immediately. You do not understand the inner working of DTA application in the bank on your behalf. You also fail to understand that a correspondence address is something entirely different then your tax residence adress. I fully agree that TH has not implemented anything yet regarding WW income. I also think it is 50/50 that they will implement it in the next 2 years. However I do tax planning as if it were to happen, big difference.

You fail to understand that claiming a dta for your dividend withholding rate while giving a wong adress is already fraud. You utterly fail to understand the situation about preferred rates on withholding taxes on dividends. As soon as you receive a us dividend and the country adress in your account is not correct bam fraud.

You are aware that stating you are a lawyer if you are not is a crime in itself? I am a 100% sure you are not a lawyer cause no lawyer would state something like the above without a million caveats! Anyway everyone who wants to know can check for themself as I provided some links to US and German legal obligations. Another add on the ignore list Yumthai

Glad to see you are no longer who you used to be so I can put you on the ignore list again 🙂

I provided you free of charge with the laws you asked for. If you chose to ignore them up to you. The laws are very clear. Stated ib the law and in the fine print of the bank that you have to update the information immediately! The bank is liable to pay taxes back if for example you claim shelter under a DBA which you are not allowed to claim. That you do not receive inportant info is just one of the points mentioned, why you chose to mention only one item is a mystery to me. All I want to do here is to show there is a risk and it is against the law. Can you get away with it, quite likely yes. However Banks are starting to demand yearly proof of your residence. I am not working in a bank I consult banks on legal matters and tax laws, what do you do for a living that puts you in a position to give qualified advice on this issue?

I am looking forward to your posting showing the answer from your bank.

https://kanzlei-herfurtner.de/falsche-adresse-bei-bank/ Up to 5 years in prison as the max penalty in Germany USA: Whoever, for the purpose of influencing in any way the action of the Federal Deposit Insurance Corporation, knowingly makes or invites reliance on a false, forged, or counterfeit statement, document, or thing shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both. https://www.law.cornell.edu/uscode/text/18/1007 But that is not all as it is also quite likely a tax evasion offense. I am fed up answering questions of yours while you are simply too lazy to google for yourself. I presume you do not have any background in finance or banking otherwise you would not ask such questions again and again.

Why you would you bother to keep a wrong tax residence if you would not end up paying taxes in the end anyway? There are some exceptions to this I can think of but they would be very rare IMHO.

There is an entire section in my link of how each country has imposed the recommendation of the OECD in law. Pls consult your lawyer or bank if you do not trust my judgement as a project leader on KYC projects for numerous bank. If you make a correct tax declaration in your countries of residence there is no tax evasion agreed despite entering a wrong adress. Just ask your bank if you can provide to them a wrong tax jurisdiction and post the answer here please.

You are aware that they plan to tax your ww income in 2025? That is what is was refering to. In 2024 yes you are fine apparently, if you do not remit and/or receive gifts.

You have a thai wife and "plan" for a thai tax evasion which could lead to you going to jail and or getting banned from entering Thailand not to mention the fine and taxes you have to pay? You even announce your plan on the internet, smart move I am impressed.

He is basically saying that there is the strong likelihood that your visa renewal will be linked to you handing in a tax declaration. How can that be off the mark? It is for you to understand that the likelyhood exists. He is by no means saying it will be 100% implemented. After all this is Thailand, just remember the 300 Baht tourist tax. Plan accordingly, if you do not care be my guest. I saw a great many "desperados" go down in flames who did not care and plan. Over and out on this topic from my side.

"For the purposes of the CRS, the Account Holder (or Controlling Person) must disclose all its tax residences in the required self-certification." https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-residency/ No one stops you from going rogue. Enjoy the ride!

Yeah all is golden... lost for words...

Just check the smallprint with the bank you are banking with or call them. Maybe you trust google more then an industry professional in banking like myself, then just google yourself please. https://onfido.com/blog/why-is-kyc-required-in-banks/ https://en.wikipedia.org/wiki/Know_your_customer

Amazing everyone gives me this answer and I agree 🙂

You have a legal obligation to update your bank data.

I simply assume that if you get an OA visa you need to show 20K EUR and you get interest on this amount. I also assume (apparently wrongly) that as a westener you manage to get 150K baht (3500 USD) in interest, pensions or capital gains per year as a given. (German pensions and a lot of other pensions ought to be taxed in TH in case you wonder) Even if you "manage" to get below 3.5K USD per year in income then it is still open for debate if you nevertheless are obliged to hand in a tax declaration even with zero income (as a foreigner). Why would you tell your bank a wrong adress if you would fall below the threshold of 3.5K usd anyway? The case you are mentioning below 3K yearly income is very rare IMHO.

Correct! There are not many countries left where you would like to bank that have not signed up to CRS.

You need to tell the bank where you are resident that is how CRS knows where to send the data to. Telling the bank an incorrect adress is not a good idea and could be tax evasion and will easily be spotted. crs_-_faq.pdfcrs_-_faq.pdfcrs_-_faq.pdfcrs_-_faq.pdf crs_-_faq.pdf CRS faq OECD.pdf

it took you longer to type this error riddled post then to check for yourself if Thailand signed up for CRS.

How can you judge if you do not speak German?