aldriglikvid

I appreciate the feedback. Thanks! I actually have a work permit, so perhaps some of the obstacles are not too much of a hurdle then. Just trying to understand the legality of company ownership (and the dynamics around it) in this country. I'm far too often met with opinions and feelings, and it's sometimes hard to grasp actual facts. Anyone sitting on any good websites where I can reach somewhat of a comprehensive understanding to company ownership?

Hi, It's very well understood that the law is written for foreigners not to own land, and - on that topic - creating a company with the only purpose to own and live in said property can also be considered against the law. With all that said, and agreed upon, am I allowed to create a company with the purpose of acquiring 1-2 houses and lease them on commercial terms? I'd humbly ask to not get side-tracked to what's possible, but rather what's allowed.

Update: Went to a TOPS and came with a pre-packed parcel and the adress written on it. It was addressed to a Lazada Warehouse, but it was not a return parcel i.e. pre-paid. It took about 4 staff, a long queue and 15 minutes of processing - then I had my parcel sent (cost 99thb). Passport via phone was OK. They offered Kerry.

Sure, that's how I ended up with Tops i.e. almost every hit on Google Maps is a Tops (or similar). Finding a location isn't the issue, if you read my original question again. Before I drag along a big Parcel I just wanted to reach out here with personal experiences and instructions.

Makes sense! Pattaya, Pratumnak area.

Hi, I need to send a parcel via Kerry Express. I've tried home pick-up two times, but they simply doesn't show. I noticed that Tops have Kerry Express "inside" them. Is it sufficient to bring the parcel and address? Or something else needed to be done beforehand?

These auto-translated articles are getting harder to read, and I don't understand why they're posted in the forums at all. Should be in a separate news site (if that's the ambition).

It would be a global blockbuster if Thailand would rip up their bank secrecy laws in a rug pull for +15 million foreign accounts, and then putting a random flat tax on all transfers. For all I know, the only one actually believing in this is @TroubleandGrumpy

Again, Thailand does not "record of all foreign deposits into Thailand" and there's absolutely no indication that this will change. Your logic, just because the Thai RD can access certain individual bank transactions as a final resort when under criminal investigation does not equal that Thai monitors all foreign (or domestic) deposits. Put differently, all sovereign nations reserve the right of 'final actions' such as expropriate property and assets, surveil phones and sms, withdraw visas, incarcerate people, request bank transactions from banks - and the list goes on. Hopefully we can agree on that these actions rarely occur randomly, not without reason and certainly not against all people. So yes, Thai RD can under a criminal investigation force Bangkok Bank to lift bank secrecy (which is written in law) - but to argue that all transactions are being recorded - which you have many times - is simply not helpful to the forum and extremely a dishonest way to conduct an argument.

Haven't visited this thread in one week. Last time I was here you argued automatic surveillance of all incoming transfers and CC- & debit payments. Now you've tuned it up to a 50% flat tax of transfers into the country. If any of these things would be implemented, it would be a 'worlds first'. I'd recommend everyone to not indulge oneself in this amount of fear mongering, adjacent to paranoia, as it might very well impact mental health.

Systems of taxation on personal income No income tax on individuals Territorial Residence-based Citizenship-based Ter: In the territorial system, only local income – income from a source inside the country – is taxed. Res: In the residence-based system, residents of the country are taxed on their worldwide (local and foreign) income, while nonresidents are taxed only on their local income. Cit: A few countries also tax the worldwide income of their nonresident citizens. Contrary to popular opinion, the majority of countries tax "worldwide income" - but what's often forgotten (and especially during these last news about a change in Thai tax laws) is that there are agreements in place to offset taxation of multiple places for the same income. Countries with a residence-based system of taxation usually allow deductions or credits for the tax that residents already pay to other countries on their foreign income. Many countries also sign tax treaties with each other to eliminate or reduce double taxation.

Another user that has nothing fulfilling to do in life besides sitting on this forum all day and everyday is @bignok - perhaps you could socialize?

It was an example, and it was correct - and I can't make an example for all possible situations, as my post would be miles long and thus not helpful at all. Next time, instead of just whining "it's wrong buhu" - contribute with something yourself.

What's wrong? The financial institution has an obligation to report to the customers established tax residency - not to all 110 countries just for the fun of it.

I notice that some of the usual suspects claiming in this thread, as in all other threads, that Thailand have overhauled its banking laws and that the Thai RD will be able to see or analyze all incoming transfers. That's not the case now, and since it would be an absolute world-wide blockbuster move - I don't see that happening in the future. Thai RD will have your end of year balance, your capital gains (interest, mutual funds & stock market) and your dividends received (stock market). Joining the CRS earlier this year, this year will mark the first year the Thai RD gets a sizeable Excel batch of Thai nationals - living and enjoying life in Thailand - but at the same time receiving capital gains and dividends held offshore. For decades over decades, these Thais have been escaping tax. Rest assured, Thai RD will be busy - but they won't be occupied with chasing retirees already taxed €450 monthly transfer. I'd recommend everyone to relax one or two steps, and not repeat the absolute worst case in each and every thread: detained on the airport with a tax receipt, that the tax law is an explicit farang hitjob, Visa & Mastercard payment analysis straight into Thai RD, immigration police in hand with RD knocking on retirees door and asking for a QR payment on the spot. I can go on and on. These threads have it all, besides some common sense.

Terrible take

Well, you already have the answer. These products & services you're referring to are either SMB's or pure mom-and-pop-stores and thus not trying to compete on price outright as, let's say, Walmart. If they wanted to compete on price, as you want it, they would've put the price in public. If you want straight price comparison perhaps you should approach larger businesses such as BigC or other firms. If you then ask them about price in public, and not in private as they want to, it's somewhat of an anti-social move - thus the irritating and defensive response. It's not illegal nor forbidden, but you're simply not jiving socially to what's expected here.

I explained to you all the ways Thai authorities can see account transfers. If you then rehash all my points and try to make them your own, it comes off as somewhat dishonest way of having a discussion. Automatic disclosure of 15 million expats (Chinese, Korean, Japanese, American, UK, Norwegian, etc) account transfers is not happening, and will not happen. Keep in mind, it has been your outright position that this was the case - in several threads. I do work under these laws and regulations, and no - Thailand RD can't just see all account transfers even if they get an initial notification from a bank that a transfer is unexplained. It will require reasonable criminal liability, followed up by further manual requests. The idea that this will be used en masse (+15 million international accounts) for all transactions and then flat tax everyone is an almost nauseating level of fear mongering.

You really got to let this go, the idea that the Thai government is able to "look at your account" and "track your transfers". They can't. Thai banks, just as OECD banks, have bank secrecy laws and there's no everyday tracking. If this would be implemented, it would be huge news - in a country of 80 million and a very substantial international community. Won't happen. Here's how CRS/Fatca works: - Year of end balance, dividends and capital gains are shared in batch to country of nationality: not to all +110 countries that have signed up for CRS. Meaning, if a Thai national opens an account in Poland, the Polish bank will ask for passport and thus nationality. That Polish bank is then obliged to send Thai RD the aforementioned data, once per year. Here's an important rule: Thailand is not obliged to send Poland info as per standard, and Poland does not send all +110 CRS countries info. Besides CRS/Fatca all banks follow Tax Evasion and Terrorist Finance laws which means that large incoming transfers that the client is unable to properly explain, is then sent as a notification to the local tax agency for further investigation. Can they request transfer info if they see criminal liability? Sure, but mass surveillance of 15 million international expats is not qualifying. Please stop with the "Thailand see your money transfers" nonsense. They don't.

You quoted me out of context here, mate. First: 1) CRS doesn't share transactions (nor FATCA). Transactions are not even shared domestically to 99% of Tax Agencies - and I see no risk Thailand of all countries will be the first. 2) Let's say my home country is Norway, nationality Norwegian - that means according to CRS Thailand (or other countries) will send end of year info to Norway. Norway has no obligation, and certainly no "automatic", information disclosure to ALL +110 CRS MEMBERS. So my original point still stands: if you tax in your home country (income, pension, capital gains, dividends etc.) I see no risk for you to have your assets confiscated by Thai authorities the coming years. If you don't tax anywhere - which is their target - and all these countries send THAILAND info of your big accounts offshore - prepared to get the temperature up a couple of degrees. It's a huge difference. This fear mongering that Thai Authorities will be able to see your bank transactions in a couple of months is just silly, if not mean to all the people it worries and creates anxiety for.

If the RTP would begin chasing western retirees over undeclared, but most certainly correctly taxed back home, pensions Thailand would instigate a diplomatic scandal, of global proportions. Again: possible but not probable.

1) Yes, and if that's the case it means they will honor the DTA's (which they are trying to communicate now already, but is downvoted here in the forums). Non issue for 95% in this thread. Probably a issue for those evading tax entirely. 2) How was it before? Genuinely asking. 3) I sincerely doubt that Thailand will implement that Banks will be forced to declare all transactions to RD. It will be completely unprecedented, on a global scale. (remember, they way RD "back home" knows your income is because it's reported by your employer, pensionhub or self reported). I just don't know what info IM will base their indiscriminate/random number on. And honestly, I don't see many examples here either.

What you're saying here are the main bulletpoints of the fear-mongering that has been going on in the last 60 threads back. And I don't argue that indiscriminate random taxation on the spot is impossible, but it's not probable in my base case scenario. The essence of my post was, if Thailand is to enforce the law in the way that most people are presenting it here on the forums, the following is needed: - Banks sharing not only year-end balances as per Fatca/CRS standards but sharing all transactions throughout a year - Flat income tax % on all transactions throughout a year - Automatic border entry/exit communication with RD (land, sea and air) - IF +180 days in country, RD automatically prints a TIN and send it (via mail?). TIN is granted without prior request or underlying documents. - Access to international card issuers banks and requesting Mastercard and Visa transaction details breaking all banking standards developed since WW2 - Flat income tax % on aforementioned Visa and Mastercard transactions - Banks in Europe, MENA, Singapore and the US sharing capital gains, transaction details and dividends to Thailand RD in an elaborate new system Everything implemented 4 months from now. Yes, of course I'm overdoing it here - but hopefully you get the point: it will take a long time before this is implemented. If you have a very cynical view of Thailand, you might buy into the idea that RD personell will bang on your door demanding QR payment on the spot. Personally, I'm not in that camp. I stand my ground and saying that the first transition years will almost only be 1) "chasing the big fish" via LARGE transactions from self reporting banks (similar to KYC reporting) and 2) Self declaring income that is rightly to be taxed IF I'm being flat taxed on all international transfers in to Thailand this coming February, I'm willing to repost this very post and give you all a "you were right!"

Not a UK resident, but - may I ask, what's the reasoning of not letting UK nationals currently not residing in the UK having active bank accounts? Is it a new law?

Although I appreciate everyone's contributions in interpretating this upcoming tax law, there's little to none discussion on how they would practically implement and enforce these new law. As it stands now, Thailand is unable to automatically link a traffic ticket to a centralized database of driving licenses. For this to be enforced properly they need to establish +180 days in the country i.e. tax subject - Revenue Department links to Border Entry's? Electronic monitoring of transactions - If this would be implemented, it's quite unique in a global context. It's rare. Most countries have end-of-year balance sent to RD's and also dividends/capital gains as per CRS standards. I'll probably be heavily criticized here, but here's how I see this playing out: - Tax law postponed +6-12 months - First 2-3 years "the big fish" are targeted via KYC-like initiatives from Banks. Meaning, Banks are encouraged to investigate "large and recurring transactions". If these are not properly explained, they are sent to the RD for tax/further investigation. - +2-3 years everyone with a non-im (or similar) making yearly extensions are encouraged to show tax filing "back home" as per DTA, or be taxed in Thailand on the spot The idea that Thailand would be able, 4 months from now, to automatically monitor the bank accounts and transactions of approx. 80 million people (domestic + foreigner, non-TINs, TINs, Elite's, ED-visas, etc.) and smack a income tax on the aforementioned, just seems like a pipe dream. Send it by mail? IM knocking on the door? Deducted at the airport?