JontS

1 hour ago, scubascuba3 said:

You're the one who asked for advice, next time don't bother

Now that's a completely different advice 😁

I was not referring to this thread, but more in general. I'm quite happy with the advice I've gotten here, including yours.

3 hours ago, Patong2021 said:

Threads like this bring out the self proclaimed medical experts and insurance litigation experts. Of course none of whom are actually educated or have had matter in dealing with the subject matter. 

 

Taking statins  is not in itself grounds for refusing a  health insurance claim.

Agree, there is so much bs on forums like this, it was however not my intention to bring out the internet experts 🙂. Taking statins or having high cholesterol is not a disease on its own. And btw I do have a masters degree in pharmaceutical sciences.

It looks like Cigna might have a sensible approach to this, I will look into that when I arrive in about 6 months.

Thank you for your input. I would of course mention this before signing up so that everything is agreed upon beforehand.

If anything heart related is not covered I might just go for self insurance and get an accident insurance instead.

I have elevated cholesterol and take statins to help with this. BP is normal and no issues related to heart disease.

Is there a risk that high cholesterol and statin use might give issues with future heart related claims? Does anyone have experience on how insurance companies handle this?

Thanks, Jon

Anyone know where I can sign up for a Thai cooking class that lasts for 5 years? 😁

3 hours ago, mrwebb8825 said:

click the links and ask. I've heard of coverage ranging from 40k-80k THB a year. Seems a better use of of the 3m-10m THB sitting in a Thai (or other) bank when you could die at any time. Eat, drink, party and be merry for you might not wake up tomorrow.

Good point, thanks for the information 🤗

10 hours ago, mrwebb8825 said:

A 10 second google search:

 

https://www.axa.co.th/en/international-exclusive

 

https://www.thailand-health-insurance.com/coverage/pre-existing/

 

https://ten-pac.com/the-ultimate-guide-to-health-insurance-in-thailand/

 

etc. all cover pre-existing conditions and are in Thailand.

Interesting, I didn't know you get insurance that covered pre-existing conditions. Any idea what they cost?

4 hours ago, TheFishman1 said:

I have insurance and his last year I used it twice for some major surgery. They covered at 100% no problem TT.

Which company do you use and what is your age?

22 minutes ago, Letseng said:

I was always of the same opinion about insurance being waste of money. While on holiday in Austria last year I ended up in hospital with low sodium level post food poisoning. 2 nights in a single room, 3 lots of drips & bill came to 8000€. No other treatment.

All was paid by insurer. No argument. 

What does Austria have to do with Thailand?

15 hours ago, Ben Zioner said:

After over 300 claims I am still waiting to get denied.. Where did you get this utter nonsense from?

From here and other forums, happy to hear that not everyone has this experience. May I ask which company you use for insurance?

I have high cholesterol, but no heart issues or high BP, but I'm pretty sure insurance companies would use that as a pre-existing condition excuse. Other than that, I'm pretty healthy.

I do plan to get insurance for accidents at least.  

I have gotten a very comprehensive and useful answer from one of the members in a PM.

10 hours ago, theblether said:

 

The question was answered immediately - 10 million baht. One of my Thai mates spent three months in a kidney-related coma, eventually dying. The private hospital billed his family almost 4 million baht. 

 

So that begs the question for the OP - can he guarantee that he will be in a fit condition to decide on treatment? He'll be far from the first farang found unconscious and transported to a private hospital. 

 

Have you thought about that, OP? 

I have thought about that actually... it is a scary thought indeed

51 minutes ago, stat said:

Same for me. Not sure if I will like it though but will see when I am moving there. No big deal to move to Thailand if I do not like the Phils.

Been going back and forth, but Thailand won because of food, accomodation, infrastructure and stability of things such as internet and power, but I'm sure I could find a nice spot in the Philippines 🙂

3 hours ago, stat said:

There is no tax on "gains for stocks" in the Phils 😉

Thanks, Philippines start looking better and better. It was my original plan to go there anyway 🤗

5 hours ago, UKresonant said:

Unless you actually sold and repurchasedyour property prior to 1st Jan 2024 generating a new pricing point, I can't see how the interim valuations would be helpful.

 

When you sell your property, will Thai RD not request your home country tax docs

 

Probably, nearly surely, you should aim to not be Thai tax resident at the point of the property sale that generates the gain.

I'm pretty sure the selling of my apartment will not be stated on my tax documents as it is not taxable here in Denmark.

I will evaluate the situation once there is more clarity on this and if it's an issue I will simply start my expat life in Philippines. I'm sure they will be happy to receive my monthly spendings and tax on gains for stocks.

Just now, stat said:

I am not sure your initial gain from the appartment will ever "disappear" according to Thai RD logic even if reinvested. No one knows currently.

I guess I have will have to wait and see. There is always the option go to another country in SE Asia and live there, plenty of options if the Thai government doesn't want my money 🙂

Just now, Mike Lister said:

The answer to your question is, you have to tell them!

 

Your job is to fill out a tax return and tell them whatever you want to tell them, based on the funds that you import into Thailand. You can say what ever you like but you should be aware that if they decide to check, you will need to prove what you said and if they catch you out, the penalties are harsh. 

 

 

Perhaps a solution is to invest the money from the apartment (as I'm planning on investing about half my money anyway), and leave it for years. I'm happy to pay taxes on any gains from the stock market.

1 minute ago, Mike Lister said:

There are several issues here.

 

A capital gain is not realised until the asset is sold, until that time, there is no gain. The crystalised gain is measured against the purchase price, or in the case of Thai tax, against the value on 31 December 2023, if that can be measured. It's fairly straight forward to measure the value of say investments that can be marked to market on a certain date, but the value of property on a particular date is much more difficult.  

 

If the gain has been realised prior to 1 January 2024, both capital and gain would be free of Thai tax, if the funds were imported into Thailand. If the gain is realised after 1 January 2024, we do not know how the TRD will want to measure the gain, against what valuation point.

 

The next major obstacle is the way that TRD will treat the importation of the combined capital and gain, will they say that gain comes first, capital comes second or will they pro rata all remittances.

 

In both of these issues we need to hear from the TRD to understand what their preferred treatment will be of CG valuation points, relative to 1 January 2024 and also the treatment of the combined capital and gain, when they are remitted.

Thank you Mike

I guess I will have to wait and see, but there is no way they are getting a penny from me selling my apartment. We're talking about 10 million baht which is only the increase in price that happened in 2020. Then I will go back to my original plan and head for the Philippines insted.

But I also wonder, how can they find out where my money comes from? My plan was to keep my bank accounts here and just transfer regularly. I also have a considerable amount besides the money from my apartment.

Done some more reading and I have a more specific question now.

I've read the guide and if I understand this correctly, as long as the increase in price on my apartment took place before 2024, it will not be taxable in Thailand. There was a huge price jump in about 2020 when the appraisal process was changed. I would be able to document this with reports from the "cooperative apartment" complex I live in. I have not yet sold my apartment, but plan to do so later this year or early next year. This is the uncertain part for me, i.e. whether it needs to have been sold before 2024 or not. Any comments appreciated.

https://aseannow.com/topic/1324294-intr … e_vignette

48) The proceeds from the sale of a capital item such as overseas property, where funds are remitted to Thailand, is one popular source of expat funds, the sale of some investment products such as stocks, shares and bonds is another. Those proceeds typically comprise two parts, capital and profit (or gain). If the capital and/or gain was acquired before 1 January 2024, it is free of Thai tax. If they were acquired after that date, they are potentially subject to Thai tax at PIT rates.

Thank you all for a very good thread on this rather confusing issue.

I’ve tried my best to read through the comments regarding taxes when selling property before moving to Thailand. I’ve not been able to find anything that fully answers my concerns.

I plan to move to Thailand sometime next year (O visa with 800k in the bank) and before I do so, to sell my apartment. There will be a considerable gain from doing so and these gains are not taxable where I live (Denmark, which has a tax treaty with Thailand).

Does anyone know when there will be full clarity on this situation?

My plan is to get a TIN as I will have income from stock investments in the future. I have no issues paying tax on that income to Thailand.