Karma80

Got to have something to distract from the PM2.5 blanketing the entire country causing respiratory issues I guess.

I live in Phuket and can say there are plenty. Of course, in the major tourist areas you are going to see tourists, but look to the more residential parts and sometimes you think you've landed in PhuketGrad.

Russians overstaying visa's and working without a work permit? Nobody could have ever seen that coming, surely ???? I wonder if the Russian representative turned up, as they weren't listed as present in the meeting. Or if it was like some UN gaslighting session.

But let's double the tourists. Truly this man is a space time wizard. But if you could maybe just give it go with about 50% of the Russians, that would be a good start.

The problem with it is the design. Because the work from Thailand remote criteria is so badly drawn up and ignores modern cross-border employment standards, you're effectively left with retirement and straight-out buy property investors in the main. So it actively encourages that, rather than people who would make their homes whilst working here.

What you mean that demand is softening after the high season ends? Who would have thought! But the Russians are well and truly everywhere in Phuket and the enterprising sign writers are starting to churn out things in Russian is seems. I applaud my Ukrainian neighbour who has made them feel at home with Ukrainian flag draped over the balcony.

I took professional expat tax accountant advice, and agree that people are seeing what they want, rather than an unpleasant reality. I would be performing work in Thailand, albeit for an overseas company. The LTR personally allows for a tax exemption, but in no way addresses the broader issue of creating a PE, which may or may not be captured conclusively under the relevant DTA. The Thailand Revenue Department has not issued any regulations and exemptions from taxation for foreign employers with staff working in Thailand under a work-from-Thailand professional visa. The visa in relation to remote workers can leave people and their employers in a very precarious position and ill-thought-out. I think it wildly misses the mark. A person capable of remote work and already outside their employer's home economy is likely already a contractor through their own corporate entity to facilitate cross-border employment, and unable to meet the financial requirements of the LTR It would only be a very unique subset of people that could avail themselves of this visa without significant tax risk to the company or themselves. And I, for one, have no intention of being that crash test dummy.

Yes, but how many of these are just existing retirement visas converted? Seems to make up most of this thread contribution. Not that there's anything wrong with that, but it's not really much benefit to the country.

I was saying to a friend only yesterday - Fark...I miss covid Phuket. I think we've been annexed by Russia.

Russians aside, beg-packing and begging by foreigners should not be allowed and they should be banned from entering the country again.

And the world could care less. It's about trying to provide at least some first line of defence for a country about have Chinese visitors arriving from a country opening at a time of extreme health crisis. Who is going to pick up the health tab when a visitor falls ill?

As someone in Phuket, I can certainly feel it. Places are very busy, large coaches back on the roads. Russian tourists turn up to our small apartment building of long leases (9 units) asking for short term rentals every day. Roll on low season...I almost miss covid times.

Thanks very much. My tax returns seperate everything clearly. I will email them of course, but that's good to hear and a starting point. Will report back!

https://www.bbc.com/news/world-asia-china-64102176 With Chinese passports now being issued again from 8th January, I'm not sure that stance will hold and outbound travel isn't discouraged.

I did trawl a bit through this thread, but couldn't find if anyone had used regular dividend payments as proof of income, rather than pension. In particular, if I own an overseas company and pay myself dividends that exceed the $80k per annum for 2 years, will that be meet the requirement for the Wealthy Pensioner plan? As I approach 50, I am looking for to arrange my tax strategy and the LTR's advantages for both tax, convenience and certainly make it worth lining my ducks up for. TIA.

As a side note, for HSBC, if you are a premier customer (or meet the requirements) you can open a HSBC Expat account. But I've found it to be less hassle, as it's intended market and product is designed for expat banking, and it's available to Thailand residents. https://www.expat.hsbc.com Also on the subject of tax, this is one drawcard of the LTR visa. The Royal Decree (No 743) gazetted on 23 May 2022 prescribes the income tax incentives for foreigners to come and reside in Thailand under an LTR Visa, as follows: For Wealthy Citizen, Retired and Work-from-Thailand foreigners who come and reside in Thailand under an LTR Visa: A right to exemption from tax on income that's derived from a post or an oìce outside Thailand or business outside Thailand or property outside Thailand and brought into Thailand (i.e. an exemption from the Foreign Source Income law). https://sherrings.com/long-term-resident-visa-tax-concessions-thailand.html

That's true. But the same announcement was coupled with the promise of relaxation for outbound tourism over the next months.

My partner is Chinese, so I'll refrain from joining the bashing or casual racism. But, on a more serious note, Thailand could experience a large spike in long term residence via wealthy LTR. A million in assets / buy a $500k property in exchange for a 10 year residence and a work permit for you and all your family is an attractive exit option/2nd residence for rich Chinese. Thailand, when structured well, has a ridiculously attractive taxation system. The mainland exodus will also push Hong Kongers to consider exit plans. I think SE Asia thinks it wants the Chinese to come, but I am not sure they are really prepared for the long term economic consequences post covid.

KYC - Know Your Customer rules are tightening in every financial institution. In Thailand there has likely been a rise in foreigner account opening with the large influx of Russians on tourist type visas, Chinese educational dodgy visas and so on. I daresay some banks have directed staff to check passports and visas for all in branch transactions, but this is Thailand and we know nothing is uniform, or even the same the next day.

With the rise of the remote working capability driven by covid, I imagine the amount of people on fake volunteer and dodgy ED visas has accelerated to the point it's no longer something that can be swept under the brown paper carpet, Here in Phuket, the number of Russians arriving is quite insane over the last few weeks. Many are looking for long term rentals, so would have a visa to match that intention. I would think a proportion of those are provided through an agent. Of course, being seen to do something and actually doing something are two different things.

I have a Thai driving licence and the digital version on my phone which has also been ok on the rare occasion I've been stopped. I do carry that physical card. My work permit is only digital, and as soon as I show that I never have been asked for a passport. Not that I would ever carry it with me unless I was heading to the bank or immigration. But, I keep a copy on my phone.

Easy. Remove the requirement for the employer of a foreign working professional to be a publicly listed company / $150m financials. You then get access to every decent earning remote worker. It would transform the program to a success. Not everyone is retirement age.

I guess this level of failure will mean it can't be blamed on external factors and they might be forced to revisit the criteria sooner rather than later when they twiddle their thumbs having run out of retirees.

It's pretty clear what happened to the LTR, outside of wealthy investors or retirees who were already accessing retirement visas anyway. It got bounced between a bunch of civil servants and committee members that just piled on requirements that are out of touch with reality, or the target demographic. Meanwhile, neighbours and other countries are waking up to the reality of how much money can be poured into the economy from higher-earning remote or independent workers. It's quite sad to see this potentially transformative moment slip away due to the shortsightedness in the program criteria. I hope that someone fixes it, but on past form, the loss of face involved with an overhaul to make the program work may just be too much.

I sincerely hope that controls are put in place, and quickly. To be clear, I am not anti-weed, but last night I walked into our local mall where there's a night market. Two tables with weed vendors selling to anyone with cash. Walk out into the car park and a stink of weed smoke. One guy in our building has decided that it's his new hobby and stinking up the common areas. It's not a good situation to be in, where people now just do as they want - technically illegal or not. How many people are stoned on bikes? Make clear some rules around it that work to protect the public and just avoid it becoming a worse public nuisance. I'm totally behind people smoking weed if they want to, but you shouldn't get to impact others with your decision.