gejohesch

Thanks also to you. Indeed, a formula with limited withdrawal amounts would be a good idea. You obviously understand sthg of the Thai culture ! 🙂

Ah, maybe that's the way : a joint account. I could check that out with a bank in T...

Thanks, obviously. I just forgot to say that I'm not legally married - some issues with my past life "back home" prevent me from marrying in Thailand. Any will I could write to the benefit of my "de facto wife" in Thailand would not be legally valid.

I have been living for nearly 20 years with a charming Thai woman. As I'm getting older (we all do!), I'm gradually getting concerned about the possibility that one day I will be gone, leaving her alone. She is 20 years younger than me, so that is quite a likely situation to happen some time in the future. I would like to find a way to put money away for her to secure her standards of living from that point in time onwards. Something like an in an investment or savings portfolio, say sthg in the order of 1-2 million THB, that she would know of but could only touch once I have disappeared. Why am I asking? Because, as sweet and lovely she is, I still cannot trust her entirely. I would not want to give her the opportunity to cash out while I'm still alive, me not knowing, and who knows what she would do with the money, what sort of silly "project" she would use the money for, "project" that would miserably fail? Most people on this forum know the Thais sufficiently to understand what I'm talking about. I'm aware that I could shop around the banks in Thailand and ask. However, if anyone in this forum could give me some appropriate advise, that would save me time and I would much appreciate it. By "appropriate advise", I mean that please, abstain from unnecessary comments on my personal relationship with my wife. That's not what I need!

You have summarised it well!

"Thai government intervening to help struggling expats is a welcome event" I guess that comment was with tongue in cheek!

Interesting comments

Thanks, I learnt sthg today!

That's pretty much what I do.

"Do many people live so near on the edge that 10% is lifestyle changing? " Seems to me that many do indeed, mate!

I have regular expenses in Thailand, where I spend several months a year, and I tend to exchange to THB more when I see good rates and less when I see poor ones. So, I'm not worried about periods of 2-3 months with less favourable rates. It's a different story if the "less favourable" rates keep on going for much longer. Even though I'm comfortable enough, financially speaking, and not usually stressed, I would join the crowd reducing time spent in Thailand and looking for options elsewhere. My wife who is Thai is very cool about spending several months outside Thailand, she is a good traveler!

Thanks, that clears it!

That would be 36 USD I guess, i.e. some sort of back where we were 6 months ago (or more)?

Thanks! What is "the 31 handle"?

I'm certainly not the first to wonder about the exchange rate THB against other currencies, but please bear with me! I see the current rates: 1 USD = 32.4 THB which is 9% down compared to 6 months ago 1 EUR = 36.2 THB which is 7% down compared to 6 months ago 1 GBP = 43.3 THB which is 5% down compared to 6 months ago That's quite a drop in purchasing power within a relatively short time for a lot of western residents in Thailand, and for a lot of potential western tourists! Can someone explain what is going on and give a view on how long this trend might hold in the near-mid term?

That would not come as a surprise!

Thanks!

Planning????? 😆

Thanks. Is it still a nice place to go in the late afternoon / early evening? It used to be quite a vibrant place some 10 years ago.

A few years back, I used to meet a group of friendly people in an open air area somewhere towards the Phra Khanong BTS station (I think), just 1 or 2 minutes walk from the station. I believe it's the W Market I can see on google map; Does anyone know about it? Is it still "alive"?

making things clear isn't exactly a thai strength so true

I was going to say!

I think I get your point re. pensions and tax evasion. It would probably be easy for (say) a Thai person having worked in (say) Germany) and receiving a pension there to not declare it to the Thai finances. Is that what you mean? One would then have to be sure that there is poor/insufficient communication between German and Thailand authorities!

Me : “I don't think it's that rare. It would be similar if I was resident in Portugal (past the 10 years "Residente Não Habitual" period), as my pension is from the private sector, paid in my home country, it would become entirely taxable in Portugal.” You: “Are you talking specifically pensions, or income in general? There's a big difference, pensions can't be readily abused for tax evasion. Washing money through a tax haven can.” In the example I was giving (if being “resident non habitual” in Portugal), I was focusing on pension as it's now my only income. The DTA (double tax agreement) between Portugal and my home country specifies that pensions from the private sector will be declared and taxed in Portugal, whereas pensions from the public sector (eg gvt administration, army, civil service and so on) remain to be declared and taxed in my home country. Btw, the DTA applies to whoever receives an income in/from my home country, regardless of his / her nationality. That’s an important point, often ignored, that could be found generally in many other DTA’s. Let’s make it clear with one example : imagine a citizen from Peru having worked in my home country and being now resident in Portugal. As that Peruvian person would receive a pension from my home country, the DTA between my home country and Portugal would apply. Possibly, the DTA between Peru and Portugal would also have to be checked (if there is one). It all depends (again) on how DTA’s are written. Everyone should do his / her homework and check what applies to his / her situation. There could be all sorts of bells and whistles in a DTA! I cannot comment on how pensions can be abused for tax evasion. I have no idea about that!

"There is a bi-lateral agreement between my home country and India, and it stipulates that if I'm resident in India, my pension income (sourced in my home country) becomes taxable in India and not in my home country." I don't think it's that rare. It would be similar if I was resident in Portugal (past the 10 years "Residente Não Habitual" period), as my pension is from the private sector, paid in my home country, it would become entirely taxable in Portugal. The point here is do not think that your own case is going to be the norm for citizens of other countries. Each one has to do his / her home work and check what a bilateral agreement with Thailand exactly says.