SCOTT FITZGERSLD

21 hours ago, Peterphuket said:

To give you an advice, if you have an Thai partner, who you can trust, let her open an account, on her/his name ask for a debitcard, take the book, and for sms message, when you like to transfer money, use your own mobilphone.

It saves you a lot of problems, believe me.

that's exactly hat the dutch man i mentioned did, and the result was that his wife  - who received the millions of euros he sent to thailand to a bank account in her name - got 7 years in jail, on top of the 100 years jail time he got !!

8 hours ago, CGW said:

Reminds me, I walked in a bank in the PI with 5k USD to open an account, they refused, don't take cash sir, that was 1981, sure it will be the same still, banks are having to really do their due diligence now, most of it is to stop them committing crimes, though they still keep getting caught!

in singapore, hong kong and cambodia most banks accept cash o problem.

but philipines is playing the holy cross country (catholic) so they are full of it...inside and out.

7 hours ago, poohy said:

I would say about 7000 million USD GBP EURO  Afghani rial whatever  

Ive got 3860 .78 THB in my account here maybe my cash dont come to your bank

 

 

Suck it up buttercup!  these stupid form elicit stupid answers i am very rich on arrival form as well

... honestly what can they do to you

 

you don't make much sense...especially the "buttercup" part...but i'll tell you what "they" - or any bank around the world these days - can do to you:

1. report the account to your home country / country of residency / ex-wife lawyer, ext.

2. fine you 1000's of dolars for giving wrong information (yes, banks do it now)

3. freeze your account until you provide "more papers" / other <deleted>

4. block transfers from / to your account right when you need it most.

5. report you to police / money laundry agencies that will push you to a washing machine.

ext.

now i m not sure if you need to worry, with your 3860.78 baht, but other people with 

more substantial amounts might find it worrying.

1 minute ago, CGW said:

Reminds me, I walked in a bank in the PI with 5k USD to open an account, they refused, don't take cash sir, that was 1981, sure it will be the same still, banks are having to really do their due diligence now, most of it is to stop them committing crimes, though they still keep getting caught!

well, banks are banks, but a fair bank will tell you that you are about to sign an important form.

that is not what the bangkok bank clerk did. 

Just now, SteveK said:

At what point were you asked to complete this form? When opening your account?

yes.

but i was not warned / told that this might be used for CRS reporting.

so i did not think much when i filled it.

now i am learning that this kind of form can get me in serious troubles, even 10 years

from now. that's nasty from the bank side. other banks in OECD countries do tell you

that the form can and will be used to report to other countries, but in thailand whey do it

all with that garfield smile...

2 minutes ago, KhunBENQ said:

And be confronted with a similar form.

Unfortunately the picture is too blurry for me to read what it says.

Sounds like a form for opening account and following rules about money laundering.

If one is not involved in serious criminal activities there is no need to loose sleep over such a standard form.

Can't count how many such forms and more I have filled over the years.

Not being a US citizen I still had to sign documents with endless no/no/no... ticks regarding any connection to the US.

To the topic starter: are you a US citizen?
Don't blame Bangkok Bank if your government/revenue traces you to the end of the world. As far as I know that they have to report any business with US citizens to the respecting agencies. Others should know the details.

 

 

 

 

i am not a u.s. citizen and i do not engage in any criminal activity.

however, i do suffer from some tax problems, like most people on this planet (excl. salary man).

so yes, these days governments. not just the U.S. , do follow their tax money all over the world.

and this can get the unsuspecting expat to serious problems and years in jail, like in the

case of that dutchman i mentioned.

Just now, Lacessit said:

There is nothing sacred about who one chooses to bank with. Close the account, and bank it somewhere else.

this is what i plan to do, problem it is not so easy, as i allready transfered some money to this account, and opening a new account in thailand - or anywhere in the world - is not easy these days.

Bangkok bank asked me to sign a form that made me more worried now, after i heard about the 100 years

jail sentence given to a dutch man for "money laundry" (details on google).

While i am not engaged in any illegal activity, this form makes me worried because it require to mention my "net worth", my

income, wethear my wealth comes from "investments" or "work", from which countries i expect to receive money, and more

and more sensitive details, and aventually to sign that "all the information provided here is accurate and  complete ...".

i was tricked into sigining this form by another incompetent banker who told me with a silly smile that "bank of thailand need to know

where the money comes from".  i understood that this form is passed to central bank of thailand, but now they

told me it is kept by bangkok bank. i asked bangkok bank to give me back the form or to alllow me to change it,

because i am not sure about some of the information (for example "net worth" - what i i had a good investment and now 

my net worth is doubled? will i now be considered a liar by the bank ?)

i am affraid this form expose me to legal complications with the bank , and in a country like thailand it means

allways that i will lose. do you have any idea how to solve this? maybe close the account in bangkok bank (don't

have much $$$ there anyway)...

On 12/26/2019 at 7:27 AM, TallGuyJohninBKK said:

Wonder what's going to happen to his Thailand real estate holdings while he's serving his long prison sentence in U.S. federal prison???  I wonder if there will be an asset forfeiture seizure by either the U.S. and/or the Thais?

 

as in all money laundry cases, all the assets are confiscated by the state, in this case Thailand, because that's where he tried to launder his ill gotten money.

Having said that, many critics around the world are warning that the draconian moneu laundry laws

open a gate for corruption and "stealing by the state". Countries around the world are using

money laundry confiscation laws to "make money" , and are over zealous in prosecuting and confiscating suspect's assets.

well, at least you got a credit card without having work permit

On 12/25/2019 at 8:36 AM, rascalman said:

Very Bad Taste: Google and see how many were killed during this terrible world War. Not Funny! My father luckily survived, many did not. I once told a vendor years ago in Bangkok who was selling a mini swastika natzi <deleted>. That this was pure evil. 

An estimated total of 70–85 million people perished, which was about 3% of the 1940 world population (est. 2.3 billion).  World War II fatality statistics vary, with estimates of total deaths ranging from 70 million to 85 million.

On 12/24/2019 at 10:30 PM, JonnyF said:

I believe this is simply ignorance, not malice. They have no idea of the history and just think the uniform looks cool, a bit like dressing up as a stormtrooper from Star Wars. They've probably seen the swastika on T-shirts at the night market and think it's a designer name in Europe.

 

Lack of education is the issue here, not hatred of Jews or a love of genocide.

the nazi regime is not only about the jews ans genocide, but also about a horrific war that killed 80 million people, including 8 million germans - 15% of the german population at that time.

thai people simply can't say , again and again, that they don't know what it means.

and i am sure that all the ones who use those nazi symbol, know very well what it means, only

that they are sure, haha, that they are also do powerfull and superior as nazi germany. this is

unfortunately how they see the world.

check out those nazi thai chicks - they propably need some aushwitz education surse !

if the foreginer was not smart enough to sign a financial aggreement with the thai lady, than

she can sue him for eerything HE earned since the relationship started.

on the other hand, since the foreigner is retired . he propably did not earn anything so

there will be no financial gain for the thai lady, as the thai law is that only gains

AFTER the couple has started the relationships are common (so all property BEFORE

the relationships started is not shared).

on the third hand, according to the thai law the foreigner can also claim

his 50% SHARE In all the gains/ money the thai woman earned since the relationship

started, as long, of course, that she is a real lady (no ladyboy).

What about the "letter frpm embassy"? the laos web site says there is a need for "letter from embassy" in case of applying for the retirement visa based on 800K baht in the bank.

what does it mean, this "letter from embassy" and is there a way to skip it?

I Need to issue a NON CRIMINAL CERTIFICATE from the thai police, does

anyone know how to do it or if there is any agent that do it (i do not

have any criminal record in thailand or on any other country)?

this goes in accordance with some byblical predictions. around

75% of the world will be completely destroyed, either by fire (earthquakes, wars, ext.)

or by water.

the water verdict - flood -  is usually reserved to sins which involve "sead wasting",

or in other words, excessive sperm ejaculation.

the sperm is the most precious liquid and resource in the body, hence

wasting or spilling it for nothing, either by masturbation or by improper sexual activity, 

can result in deterioration of the world, both the inner and outer.

this insight can be found in the judeo - christian teaching (the flood) as well as

in chinese and indian holy scriptures and practices (Dao and tantra sexual disciplines).

On 9/26/2019 at 6:07 AM, steve187 said:

so the African girl gets deported and the others get a warning, meanwhile the Thai's are nowhere to be found

this discriminating attitudes can be found in many areas, not just prostitution.

thai police will go after foreigners for things that they won't charge thais with.

On 10/29/2019 at 5:16 PM, dimitriv said:

only 7% of the people pay tax.

only 7% of the people pay tax because 90% of the population earns minimum wage, if

they are employed at all, and in thailand there is no tax for annual gains below

certain amount,

however, we are expats must consider tax regulations also in other countries, because these days

many countries , and banks will not allow transactions

or payments out of thailand if you do not have the proper documents proving that

you did pay this or that.

recently i tried to transfer around 50K EUR to my bank in my home country, in europe.

the bank asked me for the following documents:

1. letter from accontant confirming that the amount was taxed.

2. letter from the tax authorities in that country confirming i paid the tax.

3. letter of recommendation from the paying bank (showing money movements, to

prove that i am not a terrorist / criminal / whatever the bank does not like).

4. prove to where the money comes from (to eliminate the case of laundring money

which came from illegal activities, the bank will still investigate, even after

i showed them accountant papers, where the money came from...)

that's is the mess FATCA  / CRS created in the world today, and you better take it very

seriously, because even if the law in your country allows one kind of business,

the law in another country might see this activity as illegal and than prosecute you

for money laundry, which can result in confiscation of all your assets and your as* thrown

to many years in jail.

19 hours ago, wordchild said:

Well, there are plenty of things in this world that don’t make sense to me either.

Nevertheless , Thai taxation law has evolved, I presume, because of a variety of pressures/interests  and for  a variety of reasons. It is what it is.

 BTW, for a local investor who invests (In the Thai stock market) via a Thai Bank or Stockbroker, there would be no applicable capital gains tax anyway, because of the concession that applies  to investing in SET listed securities. There is no taxation (In Thailand) for any gains made from investing in the Thai market. So investing via an overseas account would be pointless, for local investors in the SET.
  

acctually Thailad makes one of the best investment worldwide, in the past 20 years.

if you invested in Thailand fund in the bottom of the 1998 asian crisis, than your annualised profit

would be around 12-12% a year, much better than most countries incl. USA.