JB300

The offical line is that taxes and bank levies are too high.

And of course there is the endemic corruption and continuing scandals.

Banking scandal: 'the rot was widespread, the corruption endemic'

Last week's banking scandals demolished a convenient myth: that the banking crash was all the fault of a few colourful rogues like Fred the Shred of RBS and Adam Applegarth of Northern Rock. We have been reminded, instead, that the rot was far more widespread. Incompetence, corruption and greed have been endemic in British banking. The RBS/NatWest computer failure illustrated the incompetence. Millions of households and firms now have to clean up the mess caused by accidental missed payments, bounced cheques and cash shortages.

The Libor scandal demonstrated deeply corrupt practices at the heart of Barclays Capital, our leading investment bank, and at others too. The public cannot understand how a corporate fine – which will be passed on to customers and shareholders – begins to address the problem.

http://www.theguardian.com/commentisfree/2012/jun/30/vince-cable-banking-scandal-coalition

and dont forget all us travelers that have been swindled by the currency fixing,what about the USA giving some of the record $2.5billion they fined a german bank last week to us poor customers,who have been at the mercy of them -ankers.

And if you were on the side benefiting from the FX rate fixing (which is just as likely as losing from it), will you be giving it back?

As for Ben, it's a normal nickname in Thai, why you are offended ?

my girlfriend's name is Benjamaporn, every body calls her Ben, it's also a boy name

as for Fa, again, why are you upset ? her official name will be Daphne and everybody will call her Fa, very easy to pronounce here, and Thai people like one

syllabe name ; many nicknames are choosen when the baby is born ; Lek, dam, daeng

Please....reread my comment.

No man should ever beat a woman. There are however two sides to every story. Is this girl screwing around or not doing her share around the house ? Is she also abusive ? Make sure you got the real facts and not just her stories before you start helping.

Even if she is doing things like that no justification to slap her around, just throw her out, divorce her and send her back to Thailand if that's the case.

look at the facts as know, not even related to accusations of abuse

He has cameras linked to his phone so he can see who is coming and going to his house

along with GPS linked to her phone so he knows where she is at all times.

to find a note saying,"he had gone to Pattya, this is the third time

This stays to me he is one sick puppy

The facts we know are NONE.

We have a story from the OP, who is retelling a story from someone else.

What has the OP seen for himself ....... I'm guessing nothing.

Even the GPS & camera story sounds wrong, ever tried to setup a remote webcam ......... it's hard, and it's expensive.

Setting up more than one from a home, as claimed here, not likely.

The guy in question owns a business so it's not inconceivable that he has a similar set-up for that which #could# be extended (on the company £) to his home...

Absolute pure speculation obviously & that's the point, but the "He has cameras linked to his phone so he can see who is coming and going to his house" sets a somewhat different tone than "He has CCTV cameras at home that he can access over the Internet".

Its the return flight. The flight i took departs at 10:00 to UTP . The flight back is in the evening, the one above. The screenshot above says Cessna light aircraft single turboprop which if correct is not the Premier bizjet or the ATR72 but most probably the Cessna Caravan 12 seater however Kan Air only have one Cessna Caravan which flys out of Chiang Mai pretty much all day long. They may have got a second one? They may got hold of another operators aircraft on a short lease? Or the info on the screenshot is wrong?

One thing is certain operating a 6 seater bizjet at 990 baht a ticket is always going to loose money so they cant do it for long. Kan Air says its generates interest and helps promote the airline and route which is true though.

Google. HS-GAB. With google images to see the Cessna Caravan.

Thanks, it looks like they've replaced the Bizjet with a Cessna...

Shame as, like you, I'd have taken it for the experience on my return to DMK

Is this the same plane...

Edit:Ignore me, I missed the Single Turbine bit...

Has anybody flown this flight before?

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It is possible making those kind of returns via trading, as I presently am doing.

However, trading needs discipline and patience. If you do possess those qualities, you may try

Trading is Gambling and above Discipline and Patience you need "Skill".

Many a Pro Gambler loses the first few hands. Many a Poor Gambler wins them! On Pure Luck Only! This keeps them at the table! So I see from your post you were lucky and won a few hands. But does this qualify you to give advice such as this? You should know that by the end of the day the Pro will walk away with your money, and you will walk away with your Shorts. If you are still a little bit lucky.

Anyone who would recommend to someone else to gamble away his 7 M Baht, and perhaps His Life Savings, is either a Lunatic, doesn't know anything about it, or is trying so hard to toot his own horn here, and be a Hero!

Which one are you?

I wouldn't rule out all "Trading", my investment strategy is basically find a good company & invest with them for the long term (top/tailing as time goes on & always reinvesting any income), but I do keep a "Punt Pot" that I use for speculative "Trading" when opportunities arise, usually when a company's share price has been (IMHO Over) hammered in the Market for a specific event (BP gulf oil spill being a classic example), with a view to getting out when my target % is either hit or I feel will be missed (but Even a dead cat will bounce).

But Day Trading? Might be an interesting hobby for some & I'm sure there are some who make money at it, but not for me, I think the pressure to find trades each day would feel like the Gambler who has to find a horse to back in every race... I'm much more the sort to sit back & wait for (what I think) is the right horse in the right race.

The 1st 2 #could# be quite innocuous,

1) It's not uncommon for people to have security cameras at their house & for these to be accessible via the web for times when they're away (much less sinister than "Cameras Linked to his Phone")

2) the GPS could be something as simple as Latitude or FindMyIPhone (Again, less sinister than "GPS tracking so he knows where she is all the time").

But the 3rd one! If he cared about her at all he would have lied & told her he was going on a business trip to somewhere else...

IMHO, there's a lot of political scaremongering going on about this, with Labour claiming it's because of the Tory plans for a referendum to exit the EU & the Tories claims that its because of an increase in the Banking Levy but as I understand it, HSBC used to carry out a review on where it had its headquarters every 3 years but hasn't done so since the GFC due to the amount of uncertainty around regulations etc...

Now that the regulatory picture is becoming clearer (in particular the UK ring-fencing requirements that need to be in place by 2019) it makes sense for it to review & I dare say move, but I think it's primary reasons are more around it being able to have full control over its UK presence (especially it's HQ) if these are to become ring fenced than the political rhetoric being dished out.

Nb if you look into why HSBC has its headquarters in the UK, you'll see that it was more or less railroaded into doing so by the Bank of England as part of its 1992 acquisition of Midland Bank, obviously the BoE having more of an "Influence" on both sides in those days.

I imagine that the BoE were grateful for HSBC's salvation of Midland Bank who were in deep doo-doo after the ill-judged investment in, then acquisition of Crocker Bank. That said, the £3.9bn acquisition costs was recovered within a few years.

In 1986 the BoE had already installed it's Deputy Governor Sir Kit McMahon as Chairman and Chief Executive as a condition of under-pinning support for Midland.

I also imagine that HSBC were pleased to find a safe haven ahead of anything going tits-up with the 1997 handover of Hong Kong.

Absolutely, marriage of convenience/necessity that worked out very well for both sides [emoji106]

IMHO, there's a lot of political scaremongering going on about this, with Labour claiming it's because of the Tory plans for a referendum to exit the EU & the Tories claims that its because of an increase in the Banking Levy but as I understand it, HSBC used to carry out a review on where it had its headquarters every 3 years but hasn't done so since the GFC due to the amount of uncertainty around regulations etc...

Now that the regulatory picture is becoming clearer (in particular the UK ring-fencing requirements that need to be in place by 2019) it makes sense for it to review & I dare say move, but I think it's primary reasons are more around it being able to have full control over its UK presence (especially it's HQ) if these are to become ring fenced than the political rhetoric being dished out.

Nb if you look into why HSBC has its headquarters in the UK, you'll see that it was more or less railroaded into doing so by the Bank of England as part of its 1992 acquisition of Midland Bank, obviously the BoE having more of an "Influence" on both sides in those days.

"Any good ideas how to make 100-150,000 Baht/month in Thailand?"

JB300 I think you've missed one zero.

No, I think you've got 1 too many, pls see my amended post

If i had 7 Million Baht i would NOT invest it in anything! Just use about 15,000 baht a month and enjoy a fabulous lifestyle ( although i don't drink or smoke ) you can work it out for yourselves how long it would last you! who would want the " carry on & problems " with a bar ! Life is so short so just enjoy your money and enjoy Thailand ( oh and don't waste your life like many who just seem to " sit indoors all day " on the internet or watching Television.Get out there and enjoy it!

F.J x

This is very bad advice, unless you are terminally ill. It would not last even 4 years. Thinking how to make money with the money you have is the way to go. 7 mil is a lot of money so if you put it to good use you will do well.

Lord knows how you live on that though [emoji15]

Edit:I believe canarysun lives on around 5-6,000 per month (by choice, not necessity) so is being genuine when he says 15,000 would give a great lifestyle.

Whether country A or Country B is cheaper depends on your personal circumstances & how you live your life.

As an example, I left Singapore at the end of Feb after 6 1/2 years & can only say that it was #considerably# cheaper living there for me than living in the North West of the UK.

Only Major Expense in Singapore was housing which including all utilities was around £2000 per month Vs I own my home in UK so cost me around £5-600 per month in utilities, council tax, insurance etc...

Offset against this was a saving of around £1,200 per month as I wasn't running 2 cars & almost £2,500 per month (yes almost £30,000 pa) in less tax/no N.I. So I was quids in.

However, If I'd wanted to run a single (decent) car in Singapore, I probably would have been better off in the UK.

But obviously Singapore has recently been voted the most expensive city in the world so my personal experience can't be valid can it [emoji15]

Walen will tell you how. Plus he'll guarantee you a visa. Where is he when we need him? Oh ya, you have to pay him 1200 THB first.

http://www.thaivisa.com/forum/topic/811854-walen-school-of-investing/page-31#entry9338814

"The duration of the course is one year. It is taught through a closed Facebook group and through webinars, there is on average one webinar per month, totalling 12 webinars. The promotion price is 1,200 USD"

I like the Philippines but retirement in Thailand is much easier, with respect to visas. I don't keep 800k in a Thai bank, I get a Verification of Pension letter from my embassy, thai immigration accepts it in lieu of money in the bank. As I recall the Philippines requires $10,000 US in one of their banks with a verified pension.

Alternatives to SE Asia? Back to the USA for me

no money required for I card if you have a filipina wife ....

much, much different.

I was divorced from my filipina wife, but passport says i am still married....Voila !!!!!

I like the Philippines but retirement in Thailand is much easier, with respect to visas. I don't keep 800k in a Thai bank, I get a Verification of Pension letter from my embassy, thai immigration accepts it in lieu of money in the bank. As I recall the Philippines requires $10,000 US in one of their banks with a verified pension.

Alternatives to SE Asia? Back to the USA for me

But if you don't want to go down that route, you can renew your 30 day Visa on Arrival for an extra 29 days at the Airport on arrival, then 2 months at a time until 16 months (technically you can go to 24 months but this needs approval from the Chief of Immigrations office) at which point you fly somewhere, come back & do it all again... Though you're most likely to have found a Filipina wife by then so yearly marriage visas.

Re Safety, check out Davao City... Despite being in the "No Go" Mindanao area it's the safest city in the Philippines & the people are really friendly (though a bit shy as they don't get anywhere near the number of foreigners as Manilla/AC/Cebu etc...)

I walked past this accident at 11am & though people (seemingly Chinese tourists) were just starting to come out with their water pistols I didn't see any evidence of any water being thrown, splashed or sprayed between Soi 6 & Soi 7 at that time.

RIP & my condolences to the Wife & kiddie

Found a typical household budget breakdown... http://budgeting.thenest.com/typical-percentages-household-budgets-3299.html... And thought I'd annotate it with #my# (YMWV... Your Mileage #Will# Vary) best guess of a Thailand Budget.

Housing (34% - covers mortgages & lots of taxes etc... that you wouldn't need to pay so I'd guess 15%)

Housing costs normally take the biggest bite out of your budget. The Bureau of Labor Statistics’ annual report on consumer expenditures showed that 34 percent of Americans’ spending goes towards housing costs. Roughly 60 percent of the average housing expense covers mortgage or rent costs, real estate taxes and homeowner’s insurance, while the rest goes towards utilities, furnishings and maintaining the home. Potential lenders use this budget line item to determine how much mortgage you can qualify for. BankRate.com states that potential lenders limit your basic housing expense, including mortgage payment, real estate taxes and homeowner’s insurance, to 28 percent of gross annual income.

Transportation (17% covering 2 cars, would suggest this is more like 10% for Thailand)

Transportation is normally the second-largest expense in a household budget, although this amount can vary quite a bit depending on your personal situation. The BLS report shows that the average American two-car household’s transportation expense accounts for over 17 percent of the overall budget. This expense may run as low as 10 percent or as high as 20 percent if you work from a home-based office, live in a metro-center with public transportation or have a long working commute.

Food (15-20%, feels more like 15% for Thailand)

A big chunk of most household budgets goes towards food. Although budgeting 15 to 20 percent of your expenditures towards food is acceptable, food spending for most Americans is closer to 13 percent of their overall expenditures. At-home food consumption accounts for almost 60 percent of all food spending, while Starbucks and the local cafe eat up the remaining 40 percent.

Savings, Insurance and Health Care (5-10%... 15% including Visa costs feels about right)

Life insurance, health care expenses, retirement savings, personal savings and cash contributions can take a toll on your budget, but they are the most important line items in your budget. Life insurance and retirement amounts to over 10 percent of the average household budget, health care comes in at roughly 6 percent and cash contributions almost 4 percent. Although Americans sometimes falter when it comes to personal savings, you should budget 5 to 10 percent of your budget towards it. Debt specialists Care One recommends taking a “pay yourself first” attitude when it comes towards savings to be sure you have enough reserves built up in case the unforeseen happens.

Personal Expenses (16%... 100% of whatever's left sounds better so 45% )

According to the BLS, roughly 16 percent of the average American’s spending goes towards clothing, personal services, education, reading, entertainment, tobacco, alcoholic beverages and other miscellaneous expenses. Be careful when calculating your entertainment expenses to not include meals eaten away from home, as they should be incorporated into your food budget.

You can't afford to live in Bangkok. I advise that you stay in cheap Chiang Mai, because if you want a nice "serviced apartment" in BKK, it will set you back at least 40,000 a month. What are these "serviced apartments" for 25k in central BKK that people are talking about? I think that only gets you a fairly standard, 1-bedroom self-service apartment, or if it's in a brand-new building it will be the size of a rabbit hutch.

Sorry, but I have found several serviced apartments in downtown BKK that are well below 20k. Yes they are single bedrooms the size of a hotel room, but I live alone so I don't have the problem of space.

I pay 14k for a fully serviced apartment in central BKK. I've been living here for nearly a year and have no complaints whatsoever. Compared to the previous places I've stayed in this is seriously the best deal I have come across. Here's a link potential future flatmates: http://www.libplace.com/EN/index.html

Not impressed at all by the photos! It looks extremely spartan and uncomfortable (virtually unfurnished), almost as I would imagine a prison cell to be like. Plus, the area is very bad and far from tourist areas. Enjoy your 14k a month stay in prison!

Can I ask why you say the area is bad?

I've found Soi 20/22 a great place to stay in Bangkok & convenient for BTS/MTS to get anywhere I've wanted to go, but I only visit for a max 4 days at a time so am interested in thoughts/comments from people who stay much longer...

As a follow-on question, where would you recommend staying longer-term in Bangkok?

Cheers

JB

Options open buy or rent at 6 k per month x 8 years = 576,000

Glad i chose option 1 @ 500,000, and at least i have something to show for it even it is only to handover to gf when i die.

1 - Working on a multiplier of paying 1/200th in rent, the rent would be 2,500 (or pay 6,000 & live in an apartment worth 1,200,000)

2 - Your 500,000 could have been invested elsewhere & could have accrued interest/gains, assuming 4%pa = 20,000 pa or 1,667 per month (more with compound gains if re-invested)

3 - There are "Ownership" fees to be paid (not just the direct ones like condo maintenance fees, insurance etc... but repairs/breakdowns that your landlord would normally cover), if these add up to 833 per month then it's a scratch, any more you're better of renting.

Obviously many more factors involved, you seem happy with where your staying & happy with the financial aspect so double win [emoji4][emoji4][emoji4]

Emirates have some great business class fares going now. For example, London 76,145, Amsterdam 48,115, New York 91,570. Nothing dodgy and you get frequent flyer miles as well.

http://www.emirates.com/th/English/destinations_offers/special_offers/special_fares/special_fares.aspx

"* All fares are exclusive of all taxes and surcharges. Fares may differ slightly due to currency fluctuations and/or government tax regulations as per journey booked. Fares and conditions are updated on 8 April 2015 and are subject to change without prior notice"

Which added 31,800 to the BKK-MAN flights I was pricing up.

FinnAir are 86,382 for the same trip (granted typically not as good planes as Emirates but good enough & the journey is a little shorter)

Emirates have some great business class fares going now. For example, London 76,145, Amsterdam 48,115, New York 91,570. Nothing dodgy and you get frequent flyer miles as well.

http://www.emirates.com/th/English/destinations_offers/special_offers/special_fares/special_fares.aspx

Looked a little too good to be true then I spotted the disclaimer at the bottom

"* All fares are exclusive of all taxes and surcharges. Fares may differ slightly due to currency fluctuations and/or government tax regulations as per journey booked. Fares and conditions are updated on 8 April 2015 and are subject to change without prior notice"

Which added approx 30,000 the the BKK-MAN flights I was pricing up, FinnAir are 86,382 for the same trip (granted typically not as good planes as Emirates but good enough & the journey is a little shorter)

Anybody know what happens re UK Capital Gains Tax if you sell your house?

I know the UK changed the rules around primary residence a few years back so it looks like I might need to pay it, but as I've spent over 5 complete Tax Years as a non-resident for Tax purposes, I don't pay Capital Gains on any share sales.

So would I need to pay it if I sold my house (it's the only one I own & was my primary residence for 9 years before I left the UK & where I stayed for visits for 3 1/2 years afterwards until I got sick of paying council tax/utilities etc... & started renting it out 3 years ago).

As I understand it, you must stay out of the UK/be non-resident for 5 years after making a capital gain which is taxable. If you become a UK resident before the five years is up you have to pay a portion of the CGT dependant on how long you have been away.

But as has been highlighted above, your house is treated differently than assets like Stocks & Shares and you need to pay CGT on it irrespective of how long you've spent as a non-resident [emoji17]

Thanks Alfie, I thought I'd read somewhere that it had changed, but good to get confirmation (even if it wasn't the news I wanted to hear :|)

Cheers

JB

Posted this in another thread but might be of interest to anybody planning their retirement...

What Happens if I Retire Abroad: http://www.litrg.org.uk/tax-guides/pensioners-tax/what-happens-if-i-retire-abroad