BillStrangeOgre

Hi, I hope I've put this question in the correct forum.

I'm leaving Thailand in the early hours of Monday morning 22/04/24. Does anyone know if the VAT refund counter is open 24/7?

Thanks

Bill

52 minutes ago, DrJack54 said:

Wednesday 17

Thanks! 

Hi, anyone tell me when Lak Si opens again after Songkran?

Thanks

On 3/29/2024 at 11:56 PM, freeworld said:

Found something, try Betrend shop in  Emporium and Paragon.

 

They are mentioned on Indafix fabric dyes website as stockists of Indafix fabric dye for natural fibers

 

https://www.tiktok.com/@indafix_dyestuff

 

I when to Siam Paragon and found Betrend on the 3rd floor. They had the Indafix fabric dye in the stationary dept. 

85thb a sachet.

Cheers

On 9/18/2023 at 11:19 AM, NoDisplayName said:

Okay, fine. 

 

There is no minimum time spent in Thailand required to maintain a "retirement" visa extension.  I can keep my 800K in the bank, spend 181 days in other countries, and send my Wise transfers to a Cambodian bank account.  Can carry my Thai spending money in my wallet on frequent visits.

 

No, wait........why AM I going to all this trouble?

There's still an opportunity to avoid tax back home in the UK as well as here.

An account can be opened in Thailand with a 'retirement visa' then deposit funds from UK in a local sterling account but make sure to spend less than 180 days in Thailand and no tax payable anywhere.

2 minutes ago, freeworld said:

Lazada has lots of choices, probably also Shopee.

 

https://www.lazada.co.th/tag/color-dye-for-clothes/

Unfortunately I can't order online with a foreign bank card.

Any physical shops? Cheers

Hi, can anyone recommend somewhere to buy clothes dye in central Bangkok?

Thanks in advance

Bill

1 hour ago, Nick Carter icp said:

Your tenancy agreement will probably state that your tenants need to inform of of any mail you receive , just ask the tenants to post the mail to you or get them to open the mail and scan it and e-mail it to you 

I've just had my tenant send a UK SIM card to me here in Thailand using Royal Mail. I sent her a £25 ASDA gift card, she was very happy to do it.

20 hours ago, LivinLOS said:

Yes but it would be even easier to park those GBP funds in a non UK linked account outside Thailand and ensure your Thai liability does not happen even if you were here >180 days. 

Also the secondary factor would be the UK would still have claim on any UK 'domestic source' income, and in fact the UK can lay claim to 'sufficient ties' to the UK (still owning a UK car, uk property, kids going to school) they can be very harsh as the famous Gaines-Cooper case showed. If you pay the liability elsewhere it becomes a tax credit issue but when you try to slip between the cracks, as many western earning Thai resident expats have done its still a lot riskier / harder and you really have to have your UK connections severed. 

EDIT Gaines-Cooper https://www.blevinsfranks.com/gainescooper-and-uk-tax-residency-the-courts-judgement/

True and the tax man could probably make a good case for claiming I am a UK resident for tax purposes.

My funds will be coming from profits (hopefully) trading crypto currencies this year on a foreign domiciled exchange. No way the taxman would have any idea about that unless I repatriate the funds to a UK bank account.

The problem is opening a non UK linked bank account outside Thailand with all the KYC. I can do that here in Thailand relatively easily

On 3/22/2024 at 2:38 PM, Mike Lister said:

Correct.

That's useful to know.

I can park funds in a sterling account here in Thailand and as long as I don't stay longer that 180 days I avoid tax here AND in the UK

On 3/8/2024 at 2:14 PM, Mike Lister said:

No, that's not correct!

 

You must remain in Thailand for a cumulative 180 days per calendar year, in order to become tax resident. Please read the document in the OP, linked below. That means,, any number of individual visits of however many days each you chose, or one visit of a long duration, totalling more than 180 days:

 

 

Reading the Tax Guide...

TAX RESIDENCY 

21) If you stay in Thailand for more than a cumulative 179 days, between 1 January and 31 December each year, you will be and always were considered to be Tax Resident in Thailand during that year, almost entirely  regardless of the type of visa you have (special tax exempt classes of visa excluded). It doesn’t matter that you may be Tax Resident in your home country or elsewhere or that you pay tax in those countries, Thailand will still regard you as Tax Resident. Tax Residency and Immigration status (and the visa you hold) are different things. Tax residency is based solely on the number of days you spend in Thailand. A day appears to be counted using the entry and exit stamps in your passport, unlike many other countries where it is determined by where you are at midnight. The number of days counter reverts to zero, on 1 January each year.

So, theoretically if on a Type-O or a Type-OA for reason of retirement and I don't spend more than 180 days in the country, then funds I import into Thailand and placed in a sterling bank account here are not taxable?

1 hour ago, Liquorice said:

Costa are still the same, 1,900 BHT for an extension of stay application. Re-entry permits are 1,000 BHT for a single entry, 3,800 BHT for a multiple entry.

Once you've registered your place of residence with Immigration (TM30) you may have to submit the very first 90 day report in person, but thereafter it can be completed in person, by post or online.

 

I would say that depends on how organised you are.

Personally, I have copies of the required documents already prepared well in advance.
You can apply for the extension at least 30 days, 45 days at certain offices prior to your existing permission of stay expiring.

On the day of application, merely a visit to the bank to obtain a letter and statement, then proceed to the office to submit the application.

Processing the application varies dependent on the size of the Immigration office and how many foreigners are applying.

CW is a busy office.

Thanks for that

And thanks to everyone who replied. Some great info here...cheers  

2 hours ago, DrJack54 said:

Immigration will accept bank letter and bank statements up to 7 days early.

Be aware that some offices insist upon update on day of application and even "activity on day of application. 

A small deposit achieves both.

Don't be concerned the balance does not match the bank leter

Thanks.

Seems like quite a complex procedure, with a lot for me to consider before I decide to go ahead. Not least that I will be dealing with immigration at CW, costs are increasing I've heard, then there's 90 day reporting which can be done online? 

Is the renewal process after 12 months fairly easy in comparison?

Thanks again

6 hours ago, DrJack54 said:

Yes. 

This is what I do. Others have their own MO.

I make appointment for extension based on retirement.

Attend immigration with enough time to deal with bank.

Do not go to teller. Obtain ticket for bank letter.

The clerk will know exactly what you need.

Ask her to deposit 100b into your account and do bank letter (also 100b) 

Ask her to photocopy this updated last page. 

Note previously CW were happy with photocopies of my bankbook pages.

Recently they required bank statements.

That can be done in week prior to appointment.  I do it day prior. 

 

So yes can all be done same day.

Be aware Bangkok Bank requires several days to provide bank statement. 

My bank (kasikorn) like many others can do it on the sport however takes time. 200b.

 

I'm assuming immigration will accept a bank statement from the day before if you have an updated passbook (including original) with the certificate of balance 800,000thb and proof of 100thb paid in, same day as the application is submitted? 

I've just noticed that there's a requirement for my passbook and deposit certificate from the bank to be dated the same day as the application. How does that work? Will the bank do all the necessary in the morning to allow me to submit the application at Chaeng Wattana in time, same day?

Cheers

4 minutes ago, DrJack54 said:

Because it's not 3 months prior to application for 12 month extension.

It's 2 months prior.

When you obtain a 12 month extension it's has a stamp with "admitted till date" 

Referred to as permission of stay.

If you plan to exit Thailand you need to purchase a reentry permit. 

The until date on the permit will match the extension stamp. 

 

Which immigration office. 

Thanks, didn't see this before above posting

6 minutes ago, Sheryl said:

If you enter visa exempt you can only stay 60 days not 3 months.

 

Aside from the methods mentioned you could also get a Non-O visa to begin with. That eliminates one whole step in the process and you'll get a 3 month stay on entry.  Then  do a one year extension of stay. Make sure you get a non-O and not a non O-A. You need to have had the 800k in bank for 2 months before the one year extension. 

 

Check first that the Embassy in Korea will issue non-O to non Koreans. 

 

Each extension of stay is for one year so would need to be back in Thailand to renew before then. 

 

If you leave the country be sure to get a re-entry permit otherwise your extension based on retirement will be voided and you have to start all over again 

 

Re-entry permits (single or multiple entry) can be obtained at same time you do your one year extension. 

Thanks for that.

On the one year extension and with the re-entry permit in hand before I leave, how long can I stay out of Thailand before the extension is voided or is valid if I stay out until the extension is finished...just want to get some sort of timeline.

Thanks again

14 minutes ago, soisanuk said:

Each Immigration Office may have their own requirements, which can differ from the main Immigration Rules.

 

If you will be using Chonburi (Pattaya) Immigration, they currently require that the 800k be on deposit in a Thai bank in your name at least 2 months before you apply for the Non-Immigrant O Visa (the "Immigration Rule" does not require this 2 month period, only that it be on deposit on the day of application).

 

Also, the Application has to be approved by Immigration HQ in Bangkok and they require at least 15 days to process it. So, you will need at least 15 days remaining on your initial Permission to Stay at the time of application (best to check with the Immigration Office where yo will apply as there have been reports that some require at least 21 days be remaining).  If you enter Visa Exempt and receive the initial 30 day stay, you can extend it another 30 days at an Immigration Office in Thailand if needed to allow enough time for for processing the Application for the Non-O Visa.

 

After receiving the Non-O Visa, continue to keep the 800k on deposit as it is required to be on deposit at least 2 months before applying for the Extension of Stay (this is the "Immigration Rule," and is followed by Pattaya Immigration, but there reports that a few Immigration Offices will require 3 months on deposit beforehand). 

 

 

Okay, didn't see this before posting above.

Cheers

Thanks for all the replies everyone.

I already have a Thai bank account. One area of concern is the requirement to have the 800,000thb in my account for a full 3 months prior to the extension being granted. How does that work if I can only stay 3 months when I enter?

Another quick question...Once I have the 'retirement' visa, if I leave Thailand how long can I stay out before the thing is no longer valid?

Thanks for taking the time to answer these questions which I'm sure have been asked a million times before.

Bill 

Hi, I'm a 67 year old Brit who's thinking of applying for an extension based on retirement.

Firstly, I'm here on a 30 day permission to stay. I will extend for another 30 days in a few weeks then leave for Seoul, S.Korea for month in April. Is it best for me to return to Thailand on a visa (tourist?) and then begin the 'retirement' process?

Is there somewhere I can get comprehensive information of what I have to do (paperwork, requirements etc) to become retired here in Thailand? 

Thanks

Bill

31 minutes ago, TigerandDog said:

that would be totally dependent on the wording of the UK/Thai tax treaty.

 

Using the aussie/Thai tax treaty as an example it states that as I'm a resident for tax purposes in Thailand and not Oz under our tax treaty Thailand has the sole rite to tax any funds I bring into Thailand from 1 Jan this year and that Oz cannot tax me at all. The ONLY exclusion to be taxed in Thailand would be for me to be able to prove that those funds were either savings or earnings prior to 1 Jan 2024.

If I'm taxed in Thailand on those profits does anyone know the rate?

Thanks

6 minutes ago, flyingtlger said:

Why risk having to pay taxes by depositing funds on profits from your investments in Thailand, especially now since the Thai government is stating they will crack down of taxing all foreigners' income living in Thailand?

Just open a bank account that required for your retirement visa and wire transfer a set amount every month from your bank back home.

 

A friend of mine did something similar, he had a relative that lived back in his home country and he would use his relatives address to receive all his mail from the bank. He would send a set amount to his bank in Thailand every month or every other month....

If he was proving residency in the UK through his relative's address wouldn't he then be liable to UK tax on his profits?

I'm thinking of opening a sterling bank account with a local bank here in Thailand. I will be on a 'retirement' visa.

I would use the account to deposit funds made on profits from investments outside Thailand.

Can anyone give me any idea what my tax liability/rate in Thailand be?

Thanks

Bill

I've been using Halifax Clarity card for years and was always impressed with the no charges for foreign ATM withdrawals. Although I don't make ATM withdrawals in Thailand as no way around the local charges.

The exchange rate was always good, even beats EX.com spot rate so shocked to hear this. I tend use my Monzo card to make payments when outside the UK and I'll use the Clarity card online.

I use Wise to transfer funds between my UK account and my Thai bank account but I recently heard that Wise has been blocked for making card payments in Thailand but can't personally confirm this

11 hours ago, lkn said:

More money = more people interested in buying?

 

That means increased demand, but supply cannot be increased to follow demand.

 

Economics 101 says that when demand is larger than supply the price will go up.

 

So how do you conclude that more money going into bitcoin will lead to a less volatile price?

 

Also, the way you say “more money comes into BTC” makes me wonder if you have tought through how bitcoin sales actually work: If I buy a coin for $65k then I will pay someone else for this coin, this someone may take the $65k and spend it on a new car or similar, so the money is no longer there. There is not a big pool of money that can be used, when people wants to cash out of bitcoin. If you want to cash out, a requirement is that someone else is willing to buy your coin from you, there is no market maker that will step in or some pool of cash you can take from, and leave your bitcoin somewhere else. And this is why the price is so volatile, it’s like baseball trading cards.

The larger a market becomes (capitalisation) the more money it takes to move it one way or the other (volatility)

And yes, as more money flows in that means increased demand and prices go up. But a percentage of that inflow will remain in the market. Not everyone sells when prices go down. Over time the market gets larger and therefore it takes ever larger volumes of selling or buying to move the market. Less volatility.