oldcpu

I agree with DrJack54. In many respects, the article is a load of rubbish. Why do i say that (its a load of rubbish)? That article is a mix of fact, speculation, and errors. Under the title "Shift 1: Visa Overhaul, From Easy Entry To Strict Control" it states: "For more than 300,000 long-term visa holders, the changes have a retroactive twist. By 31 December 2025, every foreign resident who has stayed more than 180 days in a year must file a new Residency Compliance Report through the e-Visa portal" There already is a requirement similar to the Residency Compliancy Report and it is every 90-days. The 90-day report, or for the LTR visa the one-year report. Show me an approved government document or Royal Decree that backs up what that spin in how the chiangraitimes article presents this? Requiring a 180 day report? I believe only LTR visa has such ( a one year report) - and it is not tied into taxation. Under the title: "Shift 2: Tax Shake Up, Global Income Now On The Radar" Yawn. Where have we heard this before? The article deliberately immediately misleads and starts off saying " From 1 January 2025, Thailand moved to a stricter interpretation of its global income tax system". Its Global income tax system ??? Does the author mean Thailand's existing Global taxation system? Nonsense !! Thailand does NOT have a global income tax system. That article is simply wrong and misleads. There is no global income tax system in Thailand. Rather Thailand has a remitted taxation system. A 'remitted taxation system' and NOT a 'global taxation' system. Yes, there has been speculation for years that Thailand might move to a global income tax system, but the article does not state that. The article states "From 1 January 2025, Thailand moved to a stricter interpretation of its global income tax system".. THAT is rubbish. What transpired is in some respects, on 1-January-2024 (por-161/162), Thailand moved to a stricter 'remitted taxation system. Lets now look at "Shift 4: Health Care And Welfare, Priority For Citizens" ... The article states "Changes to the Universal Coverage Scheme, which took effect on 1 November, formally remove foreign residents from subsidised state health care. From now on, most expats must rely on private health insurance." ... How many expats even qualify for the the Thai 'Universal Coverage Scheme'.??? How many ??? Please, how many?? Let me answer: Not many. So that article misleads. Dare I say again, rubbish? The the article states: "from now on, most expats must rely on private health insurance." ... Most expats?? Most?? From now on??? Serious?? Rubbish !! Don't get me wrong. Contrary to many on this forum, while I do believe expats SHOULD get health insurance, the fact of the matter is most likely most expats have NO insurance company purchased/provided health insurance, but rather most self-insure based on their own (likely IMHO inadequate) estimate of what they need for self health insurance. That view of mine is based on the view of the expat friends I have in Thailand. There is no "from now on, most expats must rely on private health insurance." None. Nadda. There is no immigration requirements there for Type-O visa. Even LTR visa holders do not need to rely on private health insurance (as LTR visa holders can 'self insure' to BoI requirements). So to say "must rely on private health insurance???" That is Rubbish !! Then there is "Shift 5: Environmental And Property Rules, Tougher Coastal Protection" ... That states "The law bans foreign individuals from buying land within two kilometres of the shoreline. " .... Serious? what ??? When have foreign individuals been able to by Thailand? Any Thai land? When?? Foreign individuals have NEVER been able to buy land in Thailand. Anywhere!! So there is NOTHING new there. Again, rubbish - an article making a spin. Be careful as to what one believes when one reads such articles. Sometimes the article or author have a spin in mind, and they want to present a perspective, and they have no problems with distorting the truth.

These things are difficult to predict. In general, the consensus is that markets, all markets (including Forex markets for specific currencies) dislike uncertainty. A Thai election means uncertainty until it is known what party (with what policies) will come to power. One might thus speculate this means an upcoming weakness in the Thai baht until the election (or until a short time after, depending on any election outcome). Which could mean using Thai baht now to buy some foreign currency. Try to pick the currency with the most likely upside (and perhaps also with the most interest possible in some TBD country). All easier said than done. Best wishes to everyone in how you structure your investments.

In general yes - but not completely. i know of westerners who are professional photographers (jobs that Thais can do), who run restaurants (jobs that Thais can do), manage hotels (again , job's Thais can do), run Dive Clubs ... have Dive boats ... all job's that Thais can do. I do note thou, those westerners (that I know) did not do such on a visa exempt, but rather they obtained proper work visas. As for the Cambodians and Burmese, ... one could argue they are the one's who take the jobs that the Thai people do NOT want to take. The Cambodians and Burmese take lower paying jobs that the Thais do not want to do. So its not all so cut and dry. Agree.

I was thinking the same thing. I wish it existed in the 1997 to 1999 timeframe.

If you research this a bit more, IMHO, you will read that it has been debunked. But don't believe such, go ahead and short AI stocks, ... such that those who are long will make money when there is a 'short squeeze. ... ok ... I don't recommend that going short ... rather i am making a point. But I do recommend being careful as to what you believe. That article is spinning an inaccurate story. i do recommend researching more, prior to either (1) going long, or (2) going short, or (3) staying out of the market and not making money either way. .

Take this with lots of gains of salt. Well over 1/2 century ago, i was trained on analogue computers. I worked on them a LOT. This is NOT analogue computers as implemented from the 1940s through to the 1980s. Don't let some video tell you otherwise. Its wrong in characterising this as 'analogue'. The author of the video doesn't understand analogue computing. That is very clear in first 5 minutes of the video. Note Analogue computing is very very fast, but fundamentally it is not as precise. Full stop. Saying analogue is more accurate than digital is wrong. What is being described in the video is NOT analogue computing. Not in the slightest. It is digital computing with more discrete electrical states. That is not analogue. Of course to describe what is actually taking place would not get the Youtube hits, ... so a misleading title is inserted as click bait. Be careful as to what you believe.

If you leave it 'in situ' have you decided what currency? While the British pound has recovered a LOT from ~6 years ago, and while I note the Thai Baht is still relatively strong vs the British pound, ... I also note in general the pound is on a slow upward recovery trend the past 6-years vs the Thai baht. If you think the British pound will slowly continue to go up (vs Thai baht) you could consider converting such to British Pounds. In that case thou, theThai banks in an FX account in Thailand may yield no interest on such, ... which may then have you thinking you wish to repatriate the money and obtain better interest than what you can get in Thailand. ... and you could also consider other currencies, such as the US$ where Thai baht is relatively strong vs US$ (and hence maybe buy US$ now, if you can find an interest bearing account for US$). Buying US$ now if one is speculating US$ will go up vs the Thai Baht. And of course, you may think of different /other investments with that money. Lots to consider and these things are not always so straight forward. Best wishes.

I guess the point is some people can put very little in the bank in Thailand as they have excellent health insurance. And the second point is Thailand's BoI consider $100k USD equivalent the minimum adequate self health insurance. That is an official Thai government department assessment which they enforce for any one on an LTR visa ( who can't prove health insurance to BoI satisfaction). As for many others in Thailand, .. I do not doubt for 1 second that many prefer to get by with far far less for self insurance. Perhaps your question in your original post should have been what is the bare minimum people think one should keep in a Thai bank for self health insurance, .. as opposed to your open more general question asking everyone their approach. Best wishes to you in what ever approach you adopt.

ok... you asked abut minimum balances in Thailand - and I preferred not to state the money I have. Especially not on a public forum. However in regards to health care, I have excellent health insurance from Europe, that is heavily subsidized as part of my pension (my former employer pays more than 50% of the cost and the amount I pay is 'capped' at rate of 65-year old, even thou i am age-71, and further, this health insurance covers both myself and my wife). Having typed that, when I applied for (and obtained) LTR visa, at that time I did not know how to get BoI to accept my European insurance, nor did I know how to get my European Insurance provider to provide an appropriately worded letter that BoI would accept for my BoI approved LTR visa Health Insurance proof. So instead I self insured, meeting the BoI requirement of $100k US$ in a Thailand bank. I used a Thai bank since my money outside of Thailand is in accounts where i can trade equities, so those accounts were not accepted by BoI for self health insurance. Hence instead i use an FX account in a Thai bank that has the equivalent of $100k US$. ... I previously had other plans for that money. However so to get the LTR visa, I instead financially restructured so to use that money already in Thailand for my 'self health insurance' (for BoI LTR visa proof) and I used other funds to address what I had originally planned to use the $100k equivalent for. . When I renew my LTR visa proof in a couple of years, i plan to use my European insurance so to free up the $100k US$ equivalent. i have subsequently learned from another AseanNow forum member how to go about this (to get BoI to accept my European Health Insurance), and I am hopeful it will work.

To answer your question, I do not know. I don't. To comment on your question, dependent on the assessment re 'screwing the tenant' , I would caution that such a move to disrupt the landlord (if one is still living in the place) could be a lose-lose scenario where no one wins. Perhaps find an alternative better place to stay/live in first, before taking any action in regards to the previous landlord (whom one feels was screwing the tenant).

I don't understand the upward movement of bitcoin - so I avoid such. I have learned the hardway in life when i dive into something I don't understand, it typically costs me money. Gold? I think a case can be made for it, but holding a position in gold doesn't match my trading/investment style. As for stocks, i would not recommend limiting it to tech stocks. That is not to say do not invest in tech stocks, but rather to say, be conservative, and expand one's portfolio beyond just tech stocks. The market is IMHO still over due for more of a sell off, albeit nvidia, with its recent strong earnings, is making it difficult for the 'bears' to push down the 'bullish' sentiment. .

US Government purchased a MASSIVE amount of Intel stock not too long ago. Why? The US Government decided Intel was of strategic importance. IMHO some tech stock are definitely worth owning. But one does need to be selective.

... and when the crash doesn't happen? We won't hear beep from those making the predictions. I've lost count of # of times I have read of such predictions (based on this or that aspect) and when it doesn't happen, those making the prediction are so very very silent.

Primarily i think, due to a lack of trust in the banks, especially when it comes to bank transfers. No so much re: Thai banks, but I was doing money transfers from Canadian banks, and I had issues where the money transfer did not take place, and my account was debited for over a week, before money refunded. I called the bank (Bank of Montreal (BMO)) help line , and they claimed I had screwed up in the transaction. However I did not screw up. I had images I took of every step of the transaction transfer process (about 1/2 dozen step), and I asked them (the help line) for a website address where i could upload the images to prove THEY, THE BMO bank, SCREWED UP. Screen shots not possible, so I took images with another phone. They declined to accept my images, but I was asked to wait another day while they looked into the issue again. The next day, the money I attempted to transfer was finally refunded to my account. They never did apologize nor did they explain how THEY screwed up. End result? i am going to close my account with BMO. Can't be trusted given such behaviour.

Speaking of nvidia, the reported results at the annual meeting exceeded pretty much even the more optimistic speculations. Before the Annual meeting nvidia share price toward the end of October reached around $207 USD/share, but then in the weeks after that the share price dropped about 10.5% to around $175 USD/share (and maybe even a bit lower than that). I suspect with these annual earnings results the stock could again test the past high of $207 USD/share. ... I has me wondering, will an upward move of nvidia (due to its excellent earnings results) pull up many other AI stocks to reach potentially unjustified (??) highs? If only I had a functioning and totally accurate crystal ball. 😅 .

In some ways yes. Still (granted off topic on this thread) the DTV opens up opportunities that did not exist in the past, where age is not nominally a restriction for that Visa. Rather the constraint is either having an existing life style compatible with the DTV, or finding a way to restructure one's lifestyle to qualify for the DTV. That did not exist over a quarter of a century ago, when i was under age-50, of moderate means, but struggling to find a way to live in Thailand. My hope is that those impacted by any enforcement of these new rules, find a satisfactory way forward.

The BoI website is clear that when on LTR visa, to open a bank account, in addition to one's passport, one also need to Bring the BoI "Notification of qualification for endorsement for Long-Term Resident Visa". Some months back I went to open an account at SCB bank, and I was surprised they asked for that BoI "Notification of qualification for endorsement for Long-Term Resident Visa". ! Fortunately I had an electronic copy of such on my smartphone. I also recall in the May-2023 timeframe, when I first received my endorsement for my LTR-WP, where my Thia wife was chatting with a high-school friend, where this friend was a bank manager at a local Krungsri bank branch, and this friend noted they had only just received (from the head office) authorization to open bank accounts for foreigners on an LTR-visa. Further the friend (who is also friends with bank managers of a few different Thai banks) that none of those bank branches had yet been authorized (from their Bangkok based HQ) to open accounts of people on LTR visas. Of course that was 2.5 years ago. Things have changed. Still, a BoI "Notification of qualification for endorsement for Long-Term Resident Visa" is nominally required to open a Bank account. Here is what the BoI webpage has to say: https://ltr.boi.go.th/page/opening-bank-account-in-thailand.html

I also believe a correction (or profit taking is due) a thousand times? What stock are you referring to? You said "all". That is simply wrong. A horrific exaggeration. nvidia ? No ... its trailing p/e about 53x. Its leading p/e about 30 to 32x. So 1,000x ? i think not. ok... how about Taiwan Semiconductor Manufacturing Company's (TSM, or TSMC)? well its trailing p/e is about 28 to 29x. Its leading p/e about 23x to 25x. So 1,000x? I think not. ok ... how about PLTR ? ok ... yes this is more speculative. Much more speculative. Its trailing p/e is about 400–550. Its leading p/e is 175 to 230x. Yes ... very speculative. So yes, lots of speculation there. But 1,000x ?? I think not. ok. ... NOT 1,000x Lets look further .. How about AMSL ? Its Trailing P/E → ~35–42x. Its leading P/E ? 33 to 35x. So 1,000x ?? I think not. How about AVGO ? It is more speculative. is trailing p/e is 85–92x. Its leading p/e is about 39 to 43x Definitely expensive. More expensive than nvidia. but 1,000x ?? I think not. How about GOOGL ? Its trailing P/E: ≈ 24.5–25.5x. Its leading/forward p/e ? 21 to 23x . so is it 1,000x ??/ I think not I could go on, but I think I made my point. You stated " when all the current valuations are a thousand times expected earnings" You did say "all" right? "all". I think not. Do i think there will a market adjustment? Yes. Highly likely, but its not because ALL AI stock current valuations are a thousand times earnings. That is flat wrong, and anyone who trades on that sort of assessment is IMHO doomed not to make money. Accuracy is important here. Really. Its very very important. Best wishes in your investments. I recommend having a cash position on hand so to deal with and take advantage of any market downward adjustment. But if i may - don't assume ALL AI current valuations are a thousand times expected earnings. That is not the case, and it will mislead you. Again. Best wishes.

Unlikely any conversion ( to Thai baht) is needed if via Swift transfer ... where I assume you mean transferring from a Thai bank FX US$ account to a nonimal US$ account in USA. My having typed that, I have never tried such myself. I do know I transfered Euros from one Thai bank FX Euro account to another Thai bank FX Euro account via Swift transfer and no intermediary conversion to Thai Baht was needed. I do note that transfers via Swift are not cheap.

Nothing I suspect. Entry is still denied.

It does read it will be more difficult for those under age-50 to stay in Thailand. I (vaguely) speculated on this possibility in another thread, for those under age-50 (and hence type-O visa not applicable), possibly some form of the DTV visa could be considered for those who can no longer border bounce easily due to more restrictive immigration policies. It does make me wonder as to how the DTV visa could be used to allow one who is significantly under age-50 to legally stay in Thailand (where I note this is not applicable to me as I am > age-50 and I have an approved Visa (LTR)). ie so for DTV perhaps have a minimum amount in a foreign bank ( greater than ~ 500,00 THB equivalent) plus perhaps register for a Thai language course (perhaps find a course that is 2 days per week for 6-months) to see if that will meet the DTV "Soft power" criteria? And of course one MUST have sufficient money saved to support one's lifestyle in Thailand ( rent / food / transport / medical / entertainment / language-course-costs). As to whether that would be accepted ? I don't know. I also suspect that approach would not interest most. However for medical reasons, perhaps one can lever that reason to obtain a DTV (ie regular medical treatments in Thailand). Still, I am wondering if we may see more expats migrating toward some sort of DTV approach away from the previous multiple border-hop / entries. I also now, after typing this, am thinking that this is not the right thread for this speculation - as we do have a DTV thread. (one example old thread): ).

If it was a bit more (say ~220,000/month) you would qualify for an LTR-WP visa (ie income of $80k US$/year equiv) and then if you apply for and obtain the LTR-WP visa, per Thai Royal Decree the money remitted to Thailand would be Thailand tax free. It would only then be US taxes to worry about. .. or if you have $250k US$ equiv invested in a Thai condo, then you greatly exceed the $40k US$/year (needed for LTR-WP visa with a Thai investment of $250k US$ equiv) and again you could qualify for an LTR-WP visa and then if you apply for and obtain the LTR-WP visa, per Thai Royal Decree, the money remitted to Thailand would be Thailand tax free. It would only then be US taxes to worry about. .. Alternatively independent of any Visa, if you can also show that the 200,000 THB/month comes from US$ savings from before 1-Jan-2024 (as opposed to only showing it coming from a retirement fund), then per POR.161.162 that remitted money is Thailand is tax exempt. Again it would only then be US taxes to worry about. I don't know ins/outs of USA-Thai DTA (Double Tax Agreement) so be certain to read that and assess what your tax obligations to Thailand (and the USA) may be.

I successfully was able to access both my new RBC and new Scotiabank accounts from Thailand. My plan is still to close my BMO account (where access to my BMO account from Thailand is exceptionally difficult). I need to wait first to confirm my CPP and OAS no longer go to my BMO account (but rather to my Scotiabank account) before I close the BMO account. It can be difficult at times, as a Canadian expat living in Thailand (as a Thailand resident, and not a Canadian resident), to continue to manage one's Canadian assets.

IMHO the market is in the process of either profit taking, or a slight correction. I have never been good at timing the market (just the very opposite) so take such a comment of mine based upon your own trading strategy and risk tolerance. Some stocks that I currently hold (with various sized holdings) that have some component of AI include: NVDA TSM PLTR GOOGL ASML AVGO ISRG These are all pretty risky (IMHO) to varying degrees, and should only be purchased by those willing to take a risk. I could be wrong in choosing and holding these. I purchased the above all quite some time back with a low entry point. I currently plan to mostly hold these positions through any market correction or pullback, as (1) I have never made money on trying to time the market , but rather I have made money on long term holding of a quality stock 👍 , and (2) I have currently sold some stocks so to have a cash reserve. Other high tech stocks that I currently hold include INTC (purchased same time US Govt purchased a bunch) , and also AMZN. Again, I purchased both these some time back with lower entry points. I also hold other stocks that are not high-tech/AI related but I prefer not to go into such (nor into any more of my holdings) here. . This AI area is very speculative - as there is a LOT of talk this could be like another dot.com bubble. It is VERY VERY much, let the buyer beware.

Being of moderate means, I took a sabbatical from work in North America, in the 1996 to 1999 timeframe, first spending one year in Hong Kong and starting in 1997 two years in Thailand. I had no work permit, I did not have a Thai spouse, I was under 50, and arguably not retired ( I was a digital nomad remotely trading the markets (outside of Thailand), stocks, and options, and futures). I was in my early 40s and I liked Thailand. I ended up meeting the Thai lady in the final year (1999) there, who would eventually become my wife. Some of us, just like Thailand. And some under age-50 did have enough money to not work at that young age - albeit I concede that is a bit young to retire, and for those who retire so young, it often means (IMHO) that they can't afford the big "toys" (ie not the latest phones, computers, ski trips ... etc ...). Doing multiple visa runs / border bounces is no fun. And I hope that those affected by these tighter rules find an appropriate way forward. .