bkkandy1308

Thank you. I am pretty sure I would need to show some proof of paying income tax in Thailand when I come to renew my visa after the first year.

The issue, I think, is that because my employer has no business entity in Thailand I would need to be responsible for paying the tax myself.

Thanks again for your suggestions.

Andy.

Hello everyone,

I will be taking up employment with a Hong Kong-registered company that does not have a Thai company. I will be employed on the M-Visa due to the nature of the work which will be as a journalist.

My question relates to taxation. I am aware that I need to pay income tax when my salary is repatriated into Thailand, but because my HK company has no experience of employing non-Hong Kong residents solely for work overseas, they are unsure whether they also need to tax me in Hong Kong. I am unclear as to whether it would be best to have my salary paid into a HK account, or directly into my Thai account.

Is anyone else in the same situation?

Thanks in anticipation for any assistance and experiences.

Andy.

I know of quite a few Singaporean property investors that own Thai property but have never set foot in Thailand. They base their investment decisions largely on what friends and family tell them.

So, in short, you do not ever need to be in Thailand to own Thailand property.

The business model for all property portals in Thailand is pretty much the same. Agents, agencies and developers pay to appear higher in your search results. If you pay nothing you will appear on page 22, or something like that.

Revenue also comes from events, both exhibitions and educational events for agents.

DD, which is part of PropertyGuru Group, has something like an 80% market share of the Thailand property search market.

Two things ....

If it seems to good to be true then it probably is.

As part of your due diligence you should look to see what company is actually providing the guarantees. Almost every time it is a separate, newly-formed company with no assets and no accounts to verify. If any developer was confident in delivering its promised returns, and if they have a decent track record of delivering on their previous promises, why don't they offer the guarantees themselves?

Just ask and you might be surprised by the answer because I've only seen one "guaranteed returns/buy-back" deal where the established developer is offering the guarantee.

Also ask what to expect once the guarantee period has ended. More often than not yields will drop to between 3% - 4% - nowhere near the 8% or more that you were initially hooked by.

For the record I'm a journalist focusing on the Thailand property sector.

Thank you, as always, UbonJoe for your valuable information. So it would be possible to obtain a 60-day extension to the 90-days I am already using? I guess this is not a common question; it's just that for personal reasons I will not be able to meet the requirements for the one-year extension before my 90-days elapses, but I will be able to given an additional 60 days.

Thanks again,

Andy.

I'm sorry if this has been answered before. I'm assuming it's a common question but my Google research didn't gave me the exact answer.

I am currently on a 90-day permission to stay Non-O. Is it possible to extend this beyond the 90 days I was given when I re-entered Thailand? If so, for how long?

Many thanks in advance.

Andy.

Thanks Jackdd - I'm asking one of my Thai translator friends to give her interpretation/translation too. That's the thing with Thai/English translations - two different people can give three different versions. :) And because this is a Thai Law any translation will only ever be just that. I really appreciate your input, and if I get any more facts about what will or will not happen from a trusted source I will update this thread.

That's interesting regarding the quality of the translation. If so, the quoted law firm, which I think is one of Thailand's most respected and trusted, and at least one other I've seen as well as several mostly Thai real estate agencies, has sent information to its clients that is wrong at worst, or at the very least confusing.

So, regarding the term "business owner" it could mean anyone who makes money from renting property? Is that what you're suggesting Jackdd?

Remember, this will only apply to landlords with five or more rental properties, and for new rental/lease agreements signed from May 1. Quite how the average tenant will be able to check how many properties a Thai person owns is just one of many unanswered questions. Arguably the Thai Government cannot even do that right now.

According to some Thais I have spoken to in the past few days, this Law has been widely discussed in the Thai media for two years or more. It's not news to them. Why has something potentially so important been ignored by the mainstream English language media?  I suspect one reason could be the potential damage it could do to multi-property landlords from overseas who buy largely for rental returns. I know 20 individuals from Singapore alone that fall into this category. Questions from them to the developers and real estate agencies about this have gone unanswered to date, so it's already having a negative impact for some overseas buyers.

8 minutes ago, jackdd said:

Another example for why you should not trust lawyers in Thailand if they can not even translate something from Thai to English properly

And these words have been used by some Thailand real estate agencies over the weekend, in updates to their clients. I know this particular lawyer has also issued press releases about this new Law and is working with some of the big real estate firms here to help with further clarifications.

There is an English language version of the new Law, which will come into effect on May 1, here:

https://www.lexology.com/library/detail.aspx?g=37775da9-2521-4d08-9aaa-b068b99e4e59

This is from Thailand's office of the law firm Tilleke & Gibbins.

It has also been published here: http://thailandproperty.news/new-rental-law-start-may-1 

There has been very little in the way of mainstream coverage in English about this new law, except for a small news article back in early January when the Law passed Cabinet approval. There were no details (in English) given at that time.

Yes, it only applies to Thailand landlords with five or more properties, but that's actually a sizeable proportion of Thai landlords in Bangkok. Many agencies I've spoken to this past weekend were both shocked that they were not consulted, and also that this has already been published in the Royal Gazette and will become law on May 1. Of course enforcement is another question entirely.

Note for clarity: I'm the editor of ThailandProperty.News.

To the OP or anyone else with recent experience, does anyone have up-to-date information about the financial requirements for HCMC? Also, is it possible to obtain a single entry here? 

Many thanks,

Andy.

Thanks to everyone who has commented. 

Just by way of a small update, the weather in Hanoi was (I am now back in Bangkok) very pleasant. It got down to about 20 degrees C at night and was roughly 25 degrees C during the day. Not cold at all. 

Collecting my passport/visa was a breeze too. I was in and out within 30 seconds, and judging by the small pile of passports awaiting collection I'd say that about 20 people were collecting. For the record, collection is from 3pm until 4.30pm on the day after you submit.

I assumed (wrongly) that as a U.K. passport holder I would need something more than just the stamp in my passport when arriving. I did not; I got 15 days on arrival with no questions whatsoever, no requirement to provide anything such as outbound flights, hotels, etc, and no need to complete any forms or make any payment.

BritTim, thanks. I guess I was given incorrect information from my HR dept. that I needed to leave Thailand to get the Non-B single entry to go with the already obtained WP - and then apply for the extension of stay to match the expiry of said WP. So what you're saying is that it was right the WP was issued at that time when I was on the extension with the reason being support for my wife. Right now I'm on a "admitted to stay" with Non-B indicated as the visa/class. That expires shortly, hence my HR is now saying I need to get the Non-B single entry to match the WP expiry. I was just curious that because I already have the WP does it mean I just need to apply for an extension of stay based on the date of the expiry of my WP next year? Whatever I am told at Chaengwattana I will report. Thanks again.

4 minutes ago, NanLaew said:

 

Aren't you able to take the WP to your local Immigration and apply for an extension of the current single-entry Non-B visa based on employment?

That is what I am really hoping is possible. All the "paperwork" was submitted when I got my WP so I hope it's possible to just extend my permission to say (based on the expiry of the work permit) without the need for more documents, etc. 

Actually that's not correct Mattd. I was "in the process" of getting the Non-O but did not go through with it once I got the new job and Work Permit. I left Thailand to get the Non-B in Laos after I got the WP. I agree that it would be easier ... hindsight and all that. :) I'm just somewhat confused. Essentially I need to get a visa to tie with the expiry of the WP next year ... I think. Just seeking clarity on the docs I will need, from myself and from my company. Thanks again for you help.

Bkkandy.

Thanks Mattd, in my case I had the physical work permit whilst on an extension of stay based on supporting my Thai wife. I then went to Laos to obtain the Non-Imm B single entry, and now need to get the Non-Imm stamp. I currently only have the 'admitted to stay until ...". I was wondering because I already have the physical work permit, whether some of the paperwork associated with obtaining the visa would not be required, or whether I need more? I've been in Thailand for more than 10 years and it's the first time I've had a WP before the visa.

Thanks again,

Bkkandy.

Dear all,

My company somehow managed to obtain my work permit without me having a Non-B. I subsequently obtained the Non-B single entry from Laos and now I need to get the visa to enable me to stay and, I assume, have it tied to my work permit. My question is what documents will I require, and from your combined experience is that unusual - getting a WP before a Non-B?

Thanks,

Bkkandy