Buying a Thai Elite visa on financing

[justin case]

On 8/31/2019 at 7:09 PM, onera1961 said:

I won't spend 75% of my net worth on anything  except health. 

you are not from a european country, are you ?  as there healthcare is as good as free, even for illegal immigrants, asylum seekers, etc...

[NanLaew]

About 8 years ago, I took out a £10,000 bank loan in the UK for home improvement. They approved it but didn't know that it was for improving my home in Thailand. Paid it back on schedule and about 6 months later, I asked for a car loan. It was approved and I went and bought a pickup in Thailand.

[NanLaew]

18 minutes ago, justin case said:

you are not from a european country, are you ?  as there healthcare is as good as free, even for illegal immigrants, asylum seekers, etc...

Oh look! Someone else who hasn't yet caught a single episode of "Myth Busters"...

[NanLaew]

18 hours ago, mikeymike100 said:

20 years is a long time, anything could happen! Even with an elite visa you only need to be arrested for a violation and you could get kicked out. The authorities could change the laws, even with a elite visa you are only a 'guest' you have no rights. its your money and your choice, but only you can weigh up the risks.

You could also die and avoid all chances of being arrested for a violation and completely miss out on any law-changing.

 

If this happened to me, I would sue.

[JayBird]

Ignoring your questionable life choice decisions:

Obtaining a loan for something that is not tangible, without physical collateral that can be claimed in default is difficult.

To do so while living in another country is more difficult.

To do so with a Thai bank would be very challenging for a non Thai (hard enough to just open an account).

This translates to high interest rate. Are you prepared to pay 10 to 20 (or more)?

Your obvious choices would be:

1) Get a guaranteed loan (parents sign it).

2) Sell something to raise funds

3) Gofundme seems popular these days.

4) Get a credit card in your home country, cash advance, then spend a long time paying back the interest and fees.


And now the jokes:

1) If you handsome man, you can get job on walking street, make money quickly.

2) I know a guy, Knuckles, he can lend you the money. Of course if your late you may loose kneecaps.

[JesseBronson]

They accept credit card. 

 

I paid by Visa, got a bunch of points, and paid off the balance in 30 days. 

Most credit cards will want you to pay the minimal balance of 10% every month, but as you know, they ding you on very high interest. 

 

So use your mastercard or visa to get the TE (if you have one), but pay off as much as you can as fast as you can to the card issuer. 

 

My 2 cents. 

 

 

 

 

[jacko45k]

6 minutes ago, JesseBronson said:

They accept credit card. 

 

I paid by Visa, got a bunch of points, and paid off the balance in 30 days. 

Most credit cards will want you to pay the minimal balance of 10% every month, but as you know, they ding you on very high interest. 

 

So use your mastercard or visa to get the TE (if you have one), but pay off as much as you can as fast as you can to the card issuer. 

 

My 2 cents. 

 

 

 

 

They do? Do they ask you to cover the 3% CC charge?

[ICELANDMAN]

On 8/31/2019 at 10:18 PM, Hal65 said:

 

It's Pattaya or Angeles for me. I've spoken to friends and nothing else competes IMO.

 

You guys speak as if Thailand is in rapid decline. I agree that 5 years ago it was a little better, but not that much.

 

Pattaya or Angeles City, I know now why you not have money ????????????????????

[Hal65]

I'm not interested in the 20 year anymore. I think what I will do is something like this:

 

1) Continue using ED Visas until the loophole is fully closed. I give it another 2 years, could be more or even less.

2) Buy a 5 year Elite

3) Probably buy another 5 year elite

 

Then I'm at the 12 year mark, so around 45 years old / 2031. That's a long time from now. The last 5 year Elite if still around shouldn't be an issue then, and if Thailand has soured then I could just head to Angeles at that time. 

 

 

[JesseBronson]

1 hour ago, jacko45k said:

They do? Do they ask you to cover the 3% CC charge?

No, 

 

No 3% charge. Just a straight 500K, a week later appointment at Immigration for the visa.  I've had the visa now a year and a half or so... best decision I ever made, especially as a I travel quite a bit. No line ups at security/ immigration arriving or leaving, golf cart picks me up at my plane when I land takes me straight to fast track... Thai Elite handler delivers my passport to the Immigration officer before I get there and clarifies my Visa status in person. I say nothing do nothing. My bags are handled by Thai Elite from the belt through the green channel without hassle. 

 

If you live in Bangkok, they offer the 7 series BMW 40X per year (20 round trips) free... 

 

Lots of perks make it enjoyable to live in Thailand again. 

[Selatan]

I wonder if a Malaysian like me can get an Elite Visa for free since Malaysia and Thailand have a visa fee waiver arrangement. Haha.

[jacko45k]

1 hour ago, JesseBronson said:

No, 

 

No 3% charge. Just a straight 500K, a week later appointment at Immigration for the visa.  I've had the visa now a year and a half or so... best decision I ever made, especially as a I travel quite a bit. No line ups at security/ immigration arriving or leaving, golf cart picks me up at my plane when I land takes me straight to fast track... Thai Elite handler delivers my passport to the Immigration officer before I get there and clarifies my Visa status in person. I say nothing do nothing. My bags are handled by Thai Elite from the belt through the green channel without hassle. 

 

If you live in Bangkok, they offer the 7 series BMW 40X per year (20 round trips) free... 

 

Lots of perks make it enjoyable to live in Thailand again. 

Sounds great. But I always fly Biz so I get some of those as per normal. 

Just that credit cards usually take a commission off the vendor, and often in Thailand, it is recovered from the buyer. (As I found out when I paid a  car repair bill with one).

[ThomasThBKK]

On 9/1/2019 at 6:20 PM, Hal65 said:

The 5 year is being brought up again so I guess I'll elaborate on the awkwardness of my age. I have 17 years before the age of 50. This means:

 

- 1 20 year covers me

- 2 EDs and 3 5 years cover me for a little more than a 50% premium

 

* And my net worth will make the decision on the later 2 5 year Elites much less eventful compared to now

** The problem is it's quite likely the Elite Visa schemes may not be around in 10+ years. Wealthy nations don't like having these backdoors for numerous reasons (don't need the money, it's a bad look, etc)

 

To me it is a bigger loss to lose access to Thailand than to ride a 20 year for say 8, effectively paying $4,000 per year instead of a little less than $2,000. One cost is trivial, the other is significant.

 

Bouncing between PH and Thailand is compelling though. I'm not much of a traveller and would have to pay for storing a large room's worth of stuff, and then paying movers to relocate everything. Doing that twice per year wouldn't be too bad though. It's not my first preference but it's a decent alternative.

 

I have the same age and bought a 5 year visa, i regret not getting the 20 year visa but at the time i did it there were not many reports of elite visas and no one else i know had one so i played it safe - that kinda changed and most people i know use them now and i know they work as advertised, i am not sure they are still available in 10 years so i would have preferred to just spend money for the 20 year one upfront.

 

I don't know how any of that other stuff saves you money, the 20 year visa is 50k baht a year, that's way less money than visa runs and angeles city and blabla - it's just not a big cost imo and easily recovered from low taxes here.

 

 

On 9/2/2019 at 10:18 AM, onera1961 said:

How do you know it is not going to be around 10+ years? If they eliminate elite, the existing visa holders will be grand fathered. Wealthy nations (like EU nations, US, Singapore), still offer residency purchase. US has recently increased the price because there is lot of fraud and scam going there. 

Well, that's a reason to buy the 20 year visa, as he might not be able to get it later. i regret not buying 20 years.

 

 

On 9/2/2019 at 2:27 PM, Hal65 said:

I'm not interested in the 20 year anymore. I think what I will do is something like this:

 

1) Continue using ED Visas until the loophole is fully closed. I give it another 2 years, could be more or even less.

2) Buy a 5 year Elite

3) Probably buy another 5 year elite

 

Then I'm at the 12 year mark, so around 45 years old / 2031. That's a long time from now. The last 5 year Elite if still around shouldn't be an issue then, and if Thailand has soured then I could just head to Angeles at that time. 

 

 

 

What's the point, that costs you more than 1 mio THB? and it's likely to get only more expensive and not cheaper...

Plus all the extra paperwork, visa runs and blabla, waste of time and money, just earn money in the time you aren't busy with that ED stuff instead.

[Matzzon]

On 8/31/2019 at 9:03 AM, Hal65 said:

I have enough for the 20 year Thai Elite (1 million baht. A 5 year costs 500k). But it would take out 75% of my savings. To avoid that issue I could either wait a couple more years, or take out a loan. Option 1 was the original plan but things are changing rapidly and the loan option is beginning to look better.

Nice to know that yet another one is planning a disasterous step to get rid of 75% of savings or borrow money to can live in a foreign country. Nice planning, I wish you all the luck possible. You will surely need it.

[Hal65]

A couple points:

 

1. The philippines has a SRRV investment visa that lets you have a long stay in the country for $50,000 put into a time deposit account, or better yet a condo. A condo should keep up with inflation over time unless you really buy wrong. Of course it also saves you money. You can be as young as 35 to qualify.

 

2. The question then becomes whether Thailand is a better country than the phils. The problem is, Thailand probably is a better country. More specific to me, Pattaya is more pleasant, less dangerous, and at a larger scale than Angeles.

 

3. On the other hand, the Philippines at 6% nominal or 4% real annual growth will take 20 years to reach Thailand's current level of wealth.

 

Mixing all these factors together my thought is:

 

4. The last 5 to 10 years of a 20 year Elite Visa will be much less valuable as Thailand will be closer to Malaysia's income level, and the Phils will be closer to Thailand, hopefully fixing some of its current problems without spoiling it.

 

5. In the Philippines you get a condo for your money whereas in Thailand you get the right to exist only. That's a heavy incentive to prefer the Phils if lifestyle factors are even in the same ballpark.

 

I believe the best path is to stay in Thailand maybe another 7 years. I'll be 40 then. Hopefully in Angeles the cops will be slightly less likely to shake you down at that time, there'll be a little less begger kids and break ins, and the area will be incrementally improved. I've sure seen changes in Pattaya. That would be a good enviroment to transition into.

Edited September 5, 2019 by Hal65

[ThomasThBKK]

6 minutes ago, Matzzon said:

Nice to know that yet another one is planning a disasterous step to get rid of 75% of savings or borrow money to can live in a foreign country. Nice planning, I wish you all the luck possible. You will surely need it.

 

This is poor people bs talk.

To make money, you need to invest money.

 

If he can save money here on taxes and living, compared to his home, it's a good investment.

If he can get a mortgage and build a multi family home to rent it out and let those renters pay if off, it's a good investment.

 

Debt is not automatically bad. Most people in this country have way more debt than him, he's one of the lucky ones with actual savings.

Debt for consumer goods = stupid.

Debt for an investment in ones future = ok.

Edited September 5, 2019 by ThomasThBKK

[ThomasThBKK]

2 minutes ago, Hal65 said:

A couple points:

 

1. The philippines has a SSRV investment visa that lets you have a long stay in the country for $50,000 put into a time deposit account, or better yet a condo. A condo should keep up with inflation over time unless you really buy wrong. Of course it also saves you money. You can be as young as 35 to qualify.

 

2. The question then becomes whether Thailand is a better country than the phils. The problem is, Thailand probably is a better country. More specific to me, Pattaya is more pleasant, less dangerous, and at a larger scale than Angeles.

 

3. On the other hand, the Philippines at 6% nominal or 4% real annual growth will take 20 years to reach Thailand's current level of wealth.

 

Mixing all these factors together my thought is:

 

4. The last 5 to 10 years of a 20 year Elite Visa will be much less valuable as Thailand will be closer to Malaysia's income level, and the Phils will be closer to Thailand, hopefully fixing some of its current problems without spoiling it.

 

5. In the Philippines you get a condo for your money whereas in Thailand you get the right to exist only. That's a heavy incentive to prefer the Phils if lifestyled factors are even in the same ballpark.

 

I believe the best path is to stay in Thailand maybe another 7 years. I'll be 40 then. Hopefully the cops will be slightly less likely to shake you down, there'll be a little less begger kids and break ins, and the area will be incrementally improved. I've sure seen changes in Pattaya. That would be a good enviroment to transition into.

 

1. Real Estate in the Phills is <deleted>, it's more expensive than Thailand and of less quality. You can get the same here with an Investment Visa later, use your time to earn money offshore and you have a good life here.

 

2. Then why do you plan to go there? The phills are a rekt country so far, why do u think that ever changes? There's much to complain about Thailand, but after all it's doing good compared to the rest of SEA and that since decades.

 

3. 4.) What's your logic? You want to move to PH when it reached Thailands level but you don't want Thailand to reach Malaysias level?! That's contradicting?

 

5.) Nothings free in life, even death will cost you your life. That said no you don't get a free condo in the Philiphines, you can as well just get a thai investment visa. You are just locking up more money there then you would lock up here. And you are forced to buy a stupid low quality 50k condo as you don't seem to have the money for something that really makes money.  That's like 100% of your saving in a country that has no good medical care at all, just to have a condo that you can't sell because you depend on the visa? denominated in PHP currency that is a mess, see chart below. 

 

 

You have to make up your mind where you really want to life, if you think you prefer PH longterm, you should go there now and get your stuff sorted imo - if not forget about PH.

[Hal65]

@Thomas BKK Most of my post was forward looking. Once you put money down on a place you're sort of rooted there so this is very important.

 

The Phils is just too ghetto right now. Well, it would be doable, but quality of life would go down. The good side of that is that it has massive future potential.

 

Thailand IMO is heaven right now but further costs will not lead to further improvements. If anything they will decrease the quality of life.

 

So to me the question boils down to

 

1) What is the best place to be and at what time?

 

Thailand for sure now and maybe up to 10 years later. But the Phils will eventually catch it.

 

2) How do the financial incentives compare?

 

The Phils has a massive edge here which IMO justifies a step down in living standard.

[Matzzon]

40 minutes ago, ThomasThBKK said:

 

This is poor people bs talk.

To make money, you need to invest money.

 

If he can save money here on taxes and living, compared to his home, it's a good investment.

If he can get a mortgage and build a multi family home to rent it out and let those renters pay if off, it's a good investment.

 

Debt is not automatically bad. Most people in this country have way more debt than him, he's one of the lucky ones with actual savings.

Debt for consumer goods = stupid.

Debt for an investment in ones future = ok.

You just called me poor? Wow! And you know what about that?

You can read how many advice against doing that, in this thread. Are you calling all those people poor too?

I do think that the poor stuff is own by you, and it´s called poor decisions made out of poor knowledge.

[ThomasThBKK]

25 minutes ago, Matzzon said:

You just called me poor? Wow! And you know what about that?

You can read how many advice against doing that, in this thread. Are you calling all those people poor too?

I do think that the poor stuff is own by you, and it´s called poor decisions made out of poor knowledge.

No, i called this kind of thinking poor.

Investing 15-30k USD in a Visa for 5-20 years isn't a bad thing when it smoothes out life and he can concentrate on making money offshore without being distracted by thai paperwork. It is easily earned back due to thai tax laws. Use Thailand to your advantage.

Tho he's a bit limited as US citizens have worldwide citizen based taxation on income over 100k USD. 

 

You don't make money without taking risks and investing money.

What poor knowledge, the tax rates in europe and the US for offshore work go from 30-50% with higher living costs, it's a no brainer. 

Asia has much better opportunities as it's an emerging market - use it.

 

Travel and relocate while you are young, with 65 after pension you might not be able to anymore. The whole western pension and work till old age system is a joke - it's like running in a hamster wheel.

[JesseBronson]

On 9/2/2019 at 5:22 PM, jacko45k said:

Sounds great. But I always fly Biz so I get some of those as per normal. 

Just that credit cards usually take a commission off the vendor, and often in Thailand, it is recovered from the buyer. (As I found out when I paid a  car repair bill with one).

 

Yea true... especially the small vendors try and hit you 2.5 or 3%... I have seen AMEX charges as much as 4% in Bkk.

 

I tried buying a Ducati a few years ago, they tried to charge me 3%... I told them to give me 3% discount and they change charge me the 3% Visa fee...   They wouldn't budge - so no Ducati.

 

The Thai Elite, anything online no issues, nearly all 4/5* hotels in Thailand, decent restaurants, petrol stations, groceries, even 7-11 now no 3%.  They are getting better !

 

 

[emptypockets]

4 hours ago, ThomasThBKK said:

No, i called this kind of thinking poor.

Investing 15-30k USD in a Visa for 5-20 years isn't a bad thing when it smoothes out life and he can concentrate on making money offshore without being distracted by thai paperwork. It is easily earned back due to thai tax laws. Use Thailand to your advantage.

Tho he's a bit limited as US citizens have worldwide citizen based taxation on income over 100k USD. 

 

You don't make money without taking risks and investing money.

What poor knowledge, the tax rates in europe and the US for offshore work go from 30-50% with higher living costs, it's a no brainer. 

Asia has much better opportunities as it's an emerging market - use it.

 

Travel and relocate while you are young, with 65 after pension you might not be able to anymore. The whole western pension and work till old age system is a joke - it's like running in a hamster wheel.

You do realise you are talking about person who has, at last count, seven threads on how to stay in Thailand? By any means apparently. He does not have the funds, and based on his posting history doesn't have the ability to speculate and invest in anything. Not every 'digital worker' is a Bill Gates.

[Matzzon]

 

4 hours ago, ThomasThBKK said:

No, i called this kind of thinking poor.

Investing 15-30k USD in a Visa for 5-20 years isn't a bad thing when it smoothes out life and he can concentrate on making money offshore without being distracted by thai paperwork. It is easily earned back due to thai tax laws. Use Thailand to your advantage.

Tho he's a bit limited as US citizens have worldwide citizen based taxation on income over 100k USD. 

 

You don't make money without taking risks and investing money.

What poor knowledge, the tax rates in europe and the US for offshore work go from 30-50% with higher living costs, it's a no brainer. 

Asia has much better opportunities as it's an emerging market - use it.

 

Travel and relocate while you are young, with 65 after pension you might not be able to anymore. The whole western pension and work till old age system is a joke - it's like running in a hamster wheel.

No, you didn´t. Below is what you wrote:
 

5 hours ago, ThomasThBKK said:

This is poor people bs talk.

The tax rate in Thailand, when you make a profit of only 1M baht, is around 25-30% and you are calling that good. That´s the big joke here.

I did relocate when I was only 28 years old, so yes I know what I am talking about. I didn´t read his second better choice, though. That was to buy a 5 year at the time. That sounds more like a winner.

 

[ExpatDraco]

 
The tax rate in Thailand, when you make a profit of only 1M baht, is around 25-30% and you are calling that good. That´s the big joke here.

No, it's not... Thailand uses a progressive tax system.

[Matzzon]

1 hour ago, ExpatDraco said:

No, it's not... Thailand uses a progressive tax system.

 

Oh, what a news flash!? yes, sir! I am very well aware of that. The tax rate between 1M baht up to 2M baht is 25%.

As you clearly not understand we were talking about investments and making money. Therefore I am talking about making money. Not making some measly Thai baht under the level of 1M baht. And after that 2M baht it will only get higher with the maximum of 5M baht and up on a tax rate of 35%.

So, In my world when you are talking about investments and making money in Thailand. Then all under making a profit of minimum 5M baht is not worth working for. Therefore it is not a good tax rate even as it is progressive. Only for the small potato up to 1M baht you will be able to enyoy a total taxation of only 12,25%.

That is of course if you do not know how to work the system. There are numerous ways to only pay a total of 12,25% up to a total profit of 10-25M baht too. That was not the piont here, though. The point was that the Thai taxation system is not an advantage for the ones who really into making a real bag of money per year. And I will not go into an explaination over how you can get the lower taxation on the much higher profit. That is something you will have to learn on your own, or pay somebody to teach you. 

Edited September 5, 2019 by Matzzon

[ExpatDraco]

Oh, what a news flash!? yes, sir! I am very well aware of that. The tax rate between 1M baht up to 2M baht is 25%.

As you clearly not understand we were talking about investments and making money. Therefore I am talking about making money. Not making some measly Thai baht under the level of 1M baht. And after that 2M baht it will only get higher with the maximum of 5M baht and up on a tax rate of 35%.

So, In my world when you are talking about investments and making money in Thailand. Then all under making a profit of minimum 5M baht is not worth working for. Therefore it is not a good tax rate even as it is progressive. Only for the small potato up to 1M baht you will be able to enyoy a total taxation of only 12,25%.

That is of course if you do not know how to work the system. There are numerous ways to only pay a total of 12,25% up to a total profit of 10-25M baht too. That was not the piont here, though. The point was that the Thai taxation system is not an advantage for the ones who really into making a real bag of money per year. And I will not go into an explaination over how you can get the lower taxation on the much higher profit. That is something you will have to learn on your own, or pay somebody to teach you. 

Oh my bad, I thought you were talking about PIT when you earn 1m THB. I'm from Belgium so there's probably no country in the world with higher tax rates.

[Matzzon]

6 minutes ago, ExpatDraco said:

Oh my bad, I thought you were talking about PIT when you earn 1m THB. I'm from Belgium so there's probably no country in the world with higher tax rates.

Yeah, the taxation in Belgium is not something I would like on my worst enemy. But you are right about Thailand. If you just make 999 999 baht, then you get away with 12,25% approx. That´s great, and you can actually live good on that amount. Sure, but it´s still not anything to put in the investment tree. ???? 

Actually, I can make you a little bit happy. Belgium is not at all the country with the highest tax rates in the world. They are actually only on the 6th place.

You are beaten by (in order from 5-1) Austria, Denmark, Japan, Portugal and Sweden who is the country that is worst.

Belgium has the highest tax rate in western Europe on 53,7% and Sweden have a massive 57,1%.

On the other hand, it is also depending on which line of work a company does between different countries taxation system. For an example, if some body sell residential properties in Sweden that is then tax exempt, but the one that sells the same in Belgium is eligeble for paying tax on the sale.

[ThomasThBKK]

2 hours ago, Matzzon said:

 

No, you didn´t. Below is what you wrote:
 

The tax rate in Thailand, when you make a profit of only 1M baht, is around 25-30% and you are calling that good. That´s the big joke here.

I did relocate when I was only 28 years old, so yes I know what I am talking about. I didn´t read his second better choice, though. That was to buy a 5 year at the time. That sounds more like a winner.

 

 

No one here talks about money earned inside of Thailand?

For money earned offshore it's effectively zero, granted you don't transfer it in in the year earned. He doesn't have a work permit, can't work here anyway - another problem for him. 

Also that's the personal income tax rate, if he had a company here correctly structured it looks different. Paper profits are easily transferred anyway...

Thailand is a great base for a tax residency unlike other nearby places like Vietnam who have worldwide taxation.

 

 

26 minutes ago, Matzzon said:

Oh, what a news flash!? yes, sir! I am very well aware of that. The tax rate between 1M baht up to 2M baht is 25%.

As you clearly not understand we were talking about investments and making money. Therefore I am talking about making money. Not making some measly Thai baht under the level of 1M baht. And after that 2M baht it will only get higher with the maximum of 5M baht and up on a tax rate of 35%.

So, In my world when you are talking about investments and making money in Thailand. Then all under making a profit of minimum 5M baht is not worth working for. Therefore it is not a good tax rate even as it is progressive. Only for the small potato up to 1M baht you will be able to enyoy a total taxation of only 12,25%.

That is of course if you do not know how to work the system. There are numerous ways to only pay a total of 12,25% up to a total profit of 10-25M baht too. That was not the piont here, though. The point was that the Thai taxation system is not an advantage for the ones who really into making a real bag of money per year. And I will not go into an explaination over how you can get the lower taxation on the much higher profit. That is something you will have to learn on your own, or pay somebody to teach you. 

 

No it's not, there's not even a tax brackets from 1-2 mio THB for income.

it's 10% till 500k,

20% till 1mio

30% till 4 mio THB

and 37% on Above 4 mio THB ...

 

And that's income tax, capital gains tax for stocks on the SET and ASEAN stock exchange is Zero. 

 

 

Anyway as he works offshore his effective tax rate would likely be ZERO if he makes no dumbass mistakes.

 

2 hours ago, emptypockets said:

You do realise you are talking about person who has, at last count, seven threads on how to stay in Thailand? By any means apparently. He does not have the funds, and based on his posting history doesn't have the ability to speculate and invest in anything. Not every 'digital worker' is a Bill Gates.

 

Well, he said: "I have enough for the 20 year Thai Elite (1 million baht. A 5 year costs 500k)." 

 

That makes him as wealthy as many retirees on this forum. 

[ExpatDraco]

Yeah, the taxation in Belgium is not something I would like on my worst enemy. But you are right about Thailand. If you just make 999 999 baht, then you get away with 12,25% approx. That´s great, and you can actually live good on that amount. Sure, but it´s still not anything to put in the investment tree. [emoji846] 

Actually, I can make you a little bit happy. Belgium is not at all the country with the highest tax rates in the world. They are actually only on the 6th place.

You are beaten by (in order from 5-1) Austria, Denmark, Japan, Portugal and Sweden who is the country that is worst.

Belgium has the highest tax rate in western Europe on 53,7% and Sweden have a massive 57,1%.

On the other hand, it is also depending on which line of work a company does between different countries taxation system. For an example, if some body sell residential properties in Sweden that is then tax exempt, but the one that sells the same in Belgium is eligeble for paying tax on the sale.

You have no idea how bad Belgium taxation really is... There's not only PIT, but also 21% VAT. And then there are extra surpluses/taxes you have to pay for almost everything you can imagine. And if you are single you have to pay the same amount then when you are a family. Also your boss has to pay extra taxes/social security on your gross wage. But hey Belgium social security is the best in the world. True if you can take advantage. But the working class, especially if they are single, get shafted big time. And that's why I said <deleted> it and migrated. ;-)

[Matzzon]

8 hours ago, ThomasThBKK said:

Anyway as he works offshore his effective tax rate would likely be ZERO if he makes no dumbass mistakes.

That´s if he chose to break the law, and that is equal to what you consider a dumbass misstake. Yeah, that ends my conversation with you.

That I say it´s breaking the law, is that most people cannot prove they are spending money that was made the year before. Therefore he would have to pay tax even on money earned abroad if he stays over 180 days in Thailand per year.