CartagenaWarlock

Here is a hilarious thing. A Chinese student in the USA spent close to 120K USD using his various cards and then went back to China. He then posted on social media, thanking Chase, Bank of America, American Express, and a few other banks for financing his stay in the US, and then cursed America for its imperialist agenda. 

On 5/21/2024 at 10:35 PM, EVENKEEL said:

feel the need to push a cashless agenda is an attempt to increase spending. If you lay down cash for your purchase you can regulate your spending better. 

I agree with this wholeheartedly. When you pay cash, you are very alert not to spend too much. There is no impulse buying, and one would buy the absolute necessity and anything that person is going to use immediately. With credit cards, a person needs to be very disciplined. 

10 hours ago, EVENKEEL said:

Unfortunately, that's the mindset of those who never had much money. 

You are right. I don't have much cash money, but banks just love to give me credit, and with 100+ credit cards, I've got close to a million dollars in available credit. Why do I need money? I live on other people's money while I keep my 3 million dollars in my 401K, IRA, and Roth.You're right, I don't walk around with cash. 

9 hours ago, EVENKEEL said:

Guess I'm a poor peasant with a butt load of cash. Poor me.

or a criminal who loves cash. 

7 hours ago, EVENKEEL said:

Cash is king.

The expression "cash is king" only applies to investments because when the market is down, if you don't have cash, you can't take advantage of that. In all other cases, cash is the poor peasants' or criminals' mode of transaction. The credit card is the king because: 1. Fraud protection, 2. Cash back 3. Using other people's money. 

On 5/19/2024 at 5:33 PM, KhunLA said:

That's false, as any motorized vehicle has to be registered, and you have to have a license to operate it.

Do you have any link to prove it. I don't have a link to prove otherwise, but I have this Pattaya News legal corner article that validates my claim that motorized scooters are forbidden on public roads if power output is more than 500W. 

Just now, Mike Lister said:

A series of interesting and useful debates have tried to determine if overseas credit card spending in Thailand by Thai tax residents, constitutes assessable income but they have been unable to decisively conclude. It is far from certain that such spending is not assessable and several factors lead us to believe it may be. The salient points in the debate include:

Where did these debates take place? Thai taxes are determined by debates? 

9 hours ago, Lorry said:

The same applies imho to usage of ATMs or paying with foreign debit cards.

I wouldn't dare to do it to evade taxes, to obvious a paper trail. But it might be some additiinal  protection if you are honest to the taxman.

This sounds like a ridiculous use of grand proportions. They are going to track every ATM and credit card purchase and then match that with who is a resident (staying more than 180 days) and who is not. I doubt if Thailand will have that capability in the next fifty years when they cannot manage simple websites efficiently for a sustained period. 

Are there no license plates on these scooters? If there are, then it is already registered. If it's less than 500W then there is no requirement for registration or a driving license. Of course, if there is an accident, you have to take responsibility.

Are there no license plates on these scooters? If there are, then it is already registered. If it's less than 500W then there is no requirement for registration or a driving license. Of course, if there is an accident, you have take the responsibility for all fiances. 

For the price of reparations for a dead body, a couple of family members can travel to Thailand and have his body cremated. 

20 hours ago, AreYouGerman said:

That people like you are stopped and even have to ask about that is the absolute downfall of Thailand tourism industry. Who enjoys to get treated like a dog.

People who are desperate to live in Thailand and don't want to go back home. 

4 hours ago, proton said:

This can't be true as know it all's are always telling us buying a house via the company route with Thai shareholders owning 51% is legal. Until you die it seems then the greedy rats decide it's not and want to take it away from your estate.

I never fell for that ruse. When I bought a house for my daughter's mom (she was a penthouse model in Poseidon who I impregnated when she was 19), I bought the house in her name. I bought a condo in my name.

3 hours ago, BKKKevin said:

I have a Fidelity account and they also refund all foreign ATM fees and money sitting in their cash position is invested in money market at around 4.5%…

Yeah their SPAXX now returns, I think 4.5%. But their ATM card is tied to their checking account, which returns a meager amount. When you transfer from their investment account (money market) to their checking account, it is not immediate because they have to sell SPAXX and can only settle at the end of the day and receive the money in your checking account the following day. 

5 hours ago, BKKKevin said:

I transfer funds from my Charles Schwab to me Wuse account... It usually arrives same day - No fee (US business time)... Once in my Wise USD account I can transfer to my BK Bank usually in a few hours... I always keep a month's worth of funds in the Wise USD account it gets almost 5%... If you go to your USD account and click more and then proof of accout details it will give you your Wise  ACH info to link your US account to it... I've heard people have just linked the SS deposit directly to Wise using this ACH method...

Yes, pushing from a US account to the Wise USD account is fast. My Chase Bank does it in a few hours. I have not tried CHarles Schwab yet. Let me try it by sending $10. Do you know fees and limitations of ATM withdrawal using Wise ATM card in Thailand? In my Wise USD account, I see I have a virtual card but no physical card in my possession. I usually transfer funds from my Chase account to my Charles Schwab account and then use their ATM card to withdraw funds in Thailand. But Charles Schwab pays meagre interest to hold money in their account; hence, I don't keep too much money in their account. My savings are in the WealthFront account, and my investment money is in the Fidelity account. WealthFront charges ATM fees for international transactions. 

7 hours ago, oldcpu said:

Ok - so if under age-70, and if no Thai wife, then if you don't fly business class, you will likely have to suffer through the immigration lines. 

I fly business class/first class. 

7 hours ago, oldcpu said:

I don't pay an agent ... I use that money for food and drinks instead.  And while I don't begrudge those who want to use an agent,  I still do note an LTR in this case (my not paying an agent) has saved me that money.   I consider that saving a useful benefit.

I don't want to save anymore. I have enough money in my 401K, IRA, and Roth. The funny thing is that the money stays the same even after my yearly withdrawals because of the magic of compound growth and generous S&P 500 returns. My expenses after covid have gone down drastically because I almost stopped travelling and staying in Europe for extended period of time. I don't drink at all. Now maybe my biggest expenses are in weed. 

7 hours ago, oldcpu said:

If the agent does not ask you for any documents, and if you stay in Thailand for 6 months (or shorter periods) then I assume you are regularly contacting your agent (or your agent contacting you) for either the 90-day report, or the TM-30 or for other aspects.

Yes, you're correct. I send a line message to my agent, and she comes and picks up my passport. I Have done TM30 twice. Once, 7 years ago, and the last one in March this year to obtain a residence certificate to renew my Thai license. My agent did it. 

7 hours ago, oldcpu said:

So maybe you don't see any benefits - but I dare say many of us do.  I think its clear we would not have applied for (and obtained the LTR) if we did not believe there was a benefit.  

 

But I have said before and I will again. Thailand has many visa options, and LTR is not a visa for everyone.  It is thou for some of us.

I do agree. If I were 40 years old or may be 50, I would have applied for an LTR visa. Now I'm 63 and don't want to change the thing that has been working for me for the last 7 years. 

Good luck with your LTR and congratulations. 

8 hours ago, oldcpu said:

assume when you travel, you always travel business class, or you have a Thai wife

I don't have a Thai wife. 
 

8 hours ago, oldcpu said:

I assume ALL your income is covered by a Double Tax Agreement and hence you receive no benefit from the tax exemption (by Thai Royal decree) for any money brought into Thailand. 

I don't stay in Thailand for more than 180 days. Before, I used to stay 3 months in Thailand, 3 months in Portugal and 6 months in the US. I have sold all my real estate in Portugal. Now I only stay 6 months in the US and 6 months in Thailand, and visit Portugal one or twice a year for a month. 

 

8 hours ago, oldcpu said:

I assume the online 90-day reports always worked for you (they never worked for me) and so since you say you don't travel much anymore , you can still do your 90 day reports online?  In my case, before I had the LTR visa, the 90-day online NEVER worked.  If I had not traveled recently, I would every 90-days have to drive to immigration (and potentially go in line with the hordes at immigration)  to do a 90-day report.  Since getting the LTR I have not had to do an immigration 'report' (other than my entering/leaving Thailand at the immigration booth).

I don't do 90-day online or not. The agent picks up my Passport from my condo and returns it the next day. Sometimes I even don't need to do 90 days because I make a trip to Singapore to visit family members. 

 

8 hours ago, oldcpu said:

Can you submit your documentation (for your extensions) online to your agent ? (ie sit on a chair on your seafront accommodations balcony with your feet up, sipping a glass of wine)?  I could to that with my LTR application.  I do note my friends on type-O visas can mostly do such with their agents (to whom they give power of attourney for their visas) except they are required yearly to physically visit their agent a couple of times AND despite having an agent they are still required to go to immigration yearly to pick up their passport with their extensions.  Perhaps other agents handle this differently.

8 hours ago, oldcpu said:

Can you submit your documentation (for your extensions) online to your agent ? (ie sit on a chair on your seafront accommodations balcony with your feet up, sipping a glass of wine)?  I could to that with my LTR application.  I do note my friends on type-O visas can mostly do such with their agents (to whom they give power of attourney for their visas) except they are required yearly to physically visit their agent a couple of times AND despite having an agent they are still required to go to immigration yearly to pick up their passport with their extensions.  Perhaps other agents handle this differently.

Agents never asked me for any documents except my passport. And she picks it up from my condo. 

In the last 7-years that I have been in Thailand, I have never stepped foot in the IO office. Last March, I wanted to get a taste of the IO office for a residence certificate to renew my driving license. I went to the office and handed over my passport. They said your TM-30 is not up-to-date. I ran from there and called my agent. She came and got the passport from me and got a residency certificate and a brand new TM-30 stapled to my passport. And then she drove me to the DMV office and got my license renewed. 

 

17 hours ago, oldcpu said:

The beauty of the LTR visa is it is valid for 10 years.  No need to go for an agent EVERY YEAR.  No need to pay an agent - EVERY YEAR.

 

Further, one can apply for the LTR-visa - where in my case I uploaded all the documents with a laptop computer from my condo balcony (with a great sea view) with my feet up, sipping a glass of wine.  Why pay an agent - as I meet the requirements and I don't have to wait at immigration ?

 

I do thou, have a couple of good friends who share your view and always use an agent. They easily meet the Type-O visa financial requirements, and they do NOT want to wait with the hordes at immigration ever year.  So EVERY YEAR they pay an agent (which includes handing over 'power of attorney' to the agent for the Type-O visa extensions) and this reduces my friends travel EVERY YEAR to 1 or 2 trips to see the agent, and 1 trip to immigration to pick up the passport when the extension stamp is in place. 

 

Each to their own - but I note the LTR visa is for 10 years ( with financial proof and likely a trip to Bangkok to have next 5 year stamp applied needed).  I much prefer that over yearly going for a 1-year extension via an Agent.  Again - each to their own.

I thought to apply for an LTR visa, but except for the Work permit to run your business, I really did not see any more benefits. Of course, you are right that you are constrained to visit your agent once a year within a two-month time period and must be in Thailand for that. That's the other benefit I could conclude. The thing is that I'm approaching 60, and according to Google, I have traveled to 163 cities and lived in multiple countries. So, I have less desire to travel anymore. If I were 50 years old, I would have definitely applied.

8 hours ago, Sigmund said:

We all wrongfully thought that once you get the preicous so called 10 year LTR all the hassles would be over with those fine immigration fellows.

 

The best thing in Thailand is to just get an agent to get your things done, including your retirement visa and never step into the immigration office. I avoided the immigration office for 7 years and always got things done by agents. Last March, I wanted to get a taste of the IO office to get my residence certificate for my MC license. They looked at my stapled TM30 and said it was out of date. I ran from there and went to my agent, who got everything done for me, including a brand new TM30 without any documents. 

26 minutes ago, Captain Monday said:

Thailand is an escape valve or plan B for me now. I never spent near 180 days in Thailand except 2021 anyway. Because of a  “flu”

Captain Monday - “Constant International Travel”

I'm in the same boat. I spent one full year in 2021 and 9 months in 2022 due to COVID. I got bored and ran to the US and Portugal. I usually spend 6 months in Thailand and was thinking of spending 9 months as I cross 60, but that plan is now on hold. I will wait till I get my SS. For now, I will continue with my 6-month stay. 

Get a real office chair costing at least 10K USD. 
https://arielle.com.au/most-expensive-office-chairs/

4 minutes ago, DrJack54 said:

You can also do border bounces to obtain 30 + 30 extension twice

In my opinion, a border bounce in a cattle cart should be the last option for a person. Sitting all day in a crammed minivan is no joy for a holiday. 

9 hours ago, ukrules said:

I've been saying this for years.

They hate us, only now are we seeing highly publicised evidence of this, it was more subtle before.

 

Sure they hate you but you don't have any options for a decent life in your home country, let alone finding a woman in your home land. That's the exact reason you live here and vent your frustration in the only forum you're allowed to do so.