LivinLOS

Great.. Thanks for confirmations.

Seeking info for vaccine needs to fly in. While I am vaccinated, in Thailand and with proof, mum is uk vaccinated and only has an NHS card. Secondly her second shot was only 29 May 2021. Well over a year ago. I heard some people being forced to buy tests in airport before boarding, others who were not and no one checked on arrival (random checking I think I read). What are the actual rules and is there a change Oct 1 ?

because opening an account for a Thai in the UK has zero connection to which banks allow a UK person to have a Thai address once account is established. Apples and Oranges.

'The OP' is me and the person this was about is in the UK.. My wife literally got off the plane, I wanted her to have her own bank card for carrying funds so first day got a sim, added Monzo app, opened the bank account.. No job, no credit card, no work history, no anything.. People can keep repeating things they think to be facts but thats what happened when we actually tried it. I also have all kinds of EUR accounts with no EUR utility bill. Fintecs seem to open accounts based on posting the debit card to the address to verify address.

none of that is an issue.. And almost all of the UK banks open accounts fully online now.. Your impression is simply not how it really is. My wife managed to open a Monzo GBP bank account within 24h of getting off the plane, simply with a UK prepaid mobile SIM in her phone. I can only speak for my own experiences first going back to get established in 2016.. I have since then opened 5 plus accounts.. Including all the fintecs like Starling, Monzo, Atom, as well as Lloyds Santander etc with none of those things.. All the accounts are opened to a commercial property address my family owns with no residential attached to it. No utility bill, no electoral roll, etc.

Pensions are taxable under Thai law in the year received.. Theres no effort made to collect that as its beyond thier ability to determine.

Yeah I am 48 and its my younger brother.. Not every poster on here is the over 60s crowd.. Only most..

Exactly part of the calculations in this.

listed on the site.. reasonable if you keep 5k in there which is low for offshore.

https://www.lloydsbank.com/savings/help-and-guidance/non-ukresidents.html#:~:text=Lloyds Bank plc.,Gresham Street%2C London EC2V 7HN. Lloyds are one of the 'hard No' answers I got and clearly posted online.

Lloyds made it very clear they couldnt do that unless you moved to the channel islands 50k on deposit accounts.. Maybe thats just a postal link not a residence.

Replied that its sold.. Sorry.

Listing was a month or two back but I just messaged the guy.. He had a retro camper and a classic bus for sale..

The fees look reasonable.. I just closed a CIM Banque in Switzerland because they have far too many standing fees, annual account statement fees, etc etc.. Citi demand 200k on deposit which is a fair bit to leave unused.. Great service but thats a penalty.

Would have been a possible one.. I am advising him to clean up his position though.. UK cars out of his name, etc etc.. Am even looking into creating a family trust or other holding structures as we have some estate planning we need to get tidy in the next years also.

Its not real estate.. And because the transaction will be reported to whatever jurisdiction the address on file is.. The address on file (which was established many many years ago) will be established by KYC based on bank account and utility bills, and then they may demand to pay that bank (but there may be flexibility there, thats not clear yet). Hence it is needed to be Thai jurisdiction where the reporting is irrelevant but not a Thai bank account where the funds wouldnt want to be sent. Finally the person concerned does have UK connection (too much in reality) and so still needs a UK bank to handle things but wants it to not be to his uk address. The next step over time is a better expat bank for him. Standard Bank above is on the list.

All banks in Thailand also charge a % fee to take out of the account, tho some can use this as thb conversion fee. It's currency and sending system dependant but 0.25 or 0.5% is usual. https://www.scb.co.th/en/personal-banking/deposits/foreign-currency-deposit-fcd.html Either way there's no way he's sending a sum of this size into Thailand. With all the issues of getting it out again

Strange with none of those things I got accounts in Lloyds, Santander, Monzo, Starling, etc etc when I fist started visiting again in the summers.. All those registered to a commercial non residential address.

Well yes he doesnt want to remit any amount of this size into Thailand, it would technically be 'income gained and remitted into the kingdom in the year it was received' and also have questions raised about getting it back out again (with a FETF but still) finally who would want to use a Thai account and pay the in and out % they cream off the top for no reason. Thai onshore is a dead end. We will work to a proper multi currency expat account based to Thailand and may not take the capital gains windfall until then but we may need to rapidly solve the KYC issues before sale of the assets. If so the above nationwide solves this urgently. Its all about tieing up lose ends which had been left untidy and having the right addresses on file.

Hes going to generate a significant taxable event and needs to ensure his Thai residency is firmed up, his UK exit status is correct (he filed it years ago but days per year is not perfect, we maintain a Irish address also that has no passport control between them) and he can pass KYC for a non UK and non Thai financial institution. This is all about ensuring everything is perfect, in advance and in correct sequence, for undisputable capital gains protection.

Like I keep saying.. Theres no issue there.. In fact the opposite..

In the uk.. He walks in opens the account.. Gets net banking etc set up.. Then they will change both his tax residence and postal address for the account after opening to his thai address.. https://www.nationwide.co.uk/help/your-details/registering-foreign-address-online/ Solved (for this specific need).

good option.. Thank you..

Foreign currency accounts take a slice on arrival and leaving.. this will have multi 100k USD moved so no desire for a domestic account taking 0.5% in and 0.5% out. hes barely 40.. pensions not a concern.. HMRC is. Yes considering an HSBC there but they also take a CLIE (commission in lieu of exchange) on large money movements even when they dont exchange them. Thats all easy.. Its breaking the UK ties that is the issue.. Not suitable for KYC which is the need here. Apparently nationwide building society do.. Just spoke with an advisor on the phone who said that they will register overseas residency and tax base and maintain an established current account to a non UK address that he can get in 5 minutes walking through the door.

Asking for a family member who (rapidly) needs an international bank account at a Thai address. He has Thai utility bills, Thai license, etc to prove things address for KYC but doesnt want a domestic Thai account as he will need to move a chunk of foreign currency. I am aware some Brit expats had UK banks (or building societies) and have kept them even after formally moving to Thailand. I just dont know which UK high street current accounts (not offshore channel islands etc) support that. Asking at Lloyds they said no, overseas tax residency and they will close the account.