Moving back to Thailand

[Misplaced]

10 hours ago, caughtintheact said:

To deal with SSA while in Thailand, one can use

Email

You may contact us in a variety of ways, but the most efficient way is by sending an email to [email protected]. We generally respond within five (5) business days from the date of receipt.

To assist you with your concerns, we may ask for your Social Security Number (SSN), your date of birth and/or banking information. Providing this information is optional; however, we may need this information to answer your questions and fully assist you.

Phone

You may call us at +63-2-5301-2000 (Option 9) from 8:00 a.m. to 11:00 a.m. (Manila Time) every Tuesday and Thursday, except on U.S. and Philippine Holidays.

Facsimile or Postal Mail

You may send your inquiry via fax to +63-2-8708-9714 or write to us at the following address:

Local Address:	U.S. Address:
U.S. Embassy – Manila Social Security Administration 1201 Roxas Boulevard Manila, Philippines 0930	U.S. Embassy – Manila Unit 8600 Box 1610 DPO AP 96515-1610

  https://ph.usembassy.gov/u-s-citizen-services/social-security/

Thank you so much.  I really appreciate this.

[tonray]

12 hours ago, RocketDog said:

I would add that I got a USA Skype number in Colorado area code for $6.50/month and for $2.99/month I have unlimited calling package to any USA mobile /land-line phone; cheaper and more useful alternative to a mobile phone.

 

17 minutes ago, Misplaced said:

Can you please elaborate.  Thank you

 

Yes..I also use Skype. They have plans to get a number where anyone can reach you via a normal US number...you select the area code region. Also gives you unlimited calling when dealing with banks, activiating new credit cards, etc etc. Works a charm...been using it for 6 years now without a hitch.

 

https://www.skype.com/en/skype-number/

[Misplaced]

22 minutes ago, tonray said:

 

 

Yes..I also use Skype. They have plans to get a number where anyone can reach you via a normal US number...you select the area code region. Also gives you unlimited calling when dealing with banks, activiating new credit cards, etc etc. Works a charm...been using it for 6 years now without a hitch.

 

https://www.skype.com/en/skype-number/

So you can call from Thailand to US with unlimited minutes?

[tonray]

8 minutes ago, Misplaced said:

So you can call from Thailand to US with unlimited minutes?

Yes...if you buy the plan. I think I pay $60 per year for #1) my own USA number and 2) unlimited calling to USA and Canada

 

and of  course just like LINE you can always do Skype to Skype calls free..

Edited June 18, 2021 by tonray

[prism]

22 minutes ago, tonray said:

 

 

Yes..I also use Skype. They have plans to get a number where anyone can reach you via a normal US number...you select the area code region. Also gives you unlimited calling when dealing with banks, activiating new credit cards, etc etc. Works a charm...been using it for 6 years now without a hitch.

 

https://www.skype.com/en/skype-number/

I'm using a Ting Mobile sim card since some financial intuitions will only send a 2 factor authentication code to a mobile phone. It's about $9 a month. It must be activated in the US and it does have roaming. After you move back to Thailand, don't forget to file your annual FBAR reports online. Tax filing will be more complicated but I use Turbo Tax and it makes it much smoother. 

 

I sure wish I had dual USA and Thai citizenship.   

[J Town]

4 hours ago, Misplaced said:

I thought about that, but what happens if the house is destroyed by renters?  Do I fly back and take care of it or property manager?  

A good property manager will screen.

[Tropposurfer]

19 hours ago, DrJack54 said:

OP, you already have good info from @tonray. 

I'm just throwing in a sideways consideration. You sound like your 100% committed to this and why not, I along with many love living in Thailand.

so my sideways consideration......you dont need to sell your home etc at the very start. Personally I sold many assets including homes over time while in Thailand. 

As you intend to return to USA each year it's easy to sell your home in the future.

Good points by @tonray & DrJ.

If you've got savings and a pension coming in and can cover easily your moving and settling expenses (good to rent a place and move around a bit visiting places and staying a while to check exactly where you might like to settle your permanent home - (don't jump at buying a place in the first months, if buying a home is in your mind to do). I would move to BKK first.

The new Immigration rules for falangs to buy land under certain visa criteria/categories is worth checking out. I'm talking with a my lawyer and might buy the land my home is on, if this new initiative is kosher. So, I'd watch that space my friend! 

Not sure what visa type you'll be applying for - retirement I guess. I was lucky enough to have the funds to go with an Elite retirement visa and am very happy I did. It opens a lot of doors very easily, with all sorts of stuff by way of discounts and privileges.

I am certain that it brings a nicer response from all immigration and other officials here in Thailand compared to my previous work, educational and tourist visa's official contacts. 

 

I bought in Phuket after living in BKK and Chiang Mai, east coast beach areas for a short time and visiting a lot of other places too (north east too) before I did so (advice for members here and a few others I knew personally who have also lived in-country for a long time and know what's what in LOS).

I bought after very careful, and months of deliberation and consulting. I'd advise you do the same if buying is on your radar.

There's a solid American lawyer operating in LOS - BKK (one advertises on Thai Visa) who can advise and consult prior to leaving the US.

Don't forget your will n last testament in the US and to get it translated and verified by the US Thai lawyers offices once here.

 

You can find tons of nice monthly rentals everywhere.

You could start with an airbnb which you can book and check out before you leave the US so you have a known place to go to and not a hotel as an example then in a week or so of arrival and having a look around find another rental in an area you like.

Prices are cheap with the Covid thing affecting- bargains everywhere!

Planning what area you'll begin your life in is another consideration too, it will ease the culture shock and thousand yard stare at realising you now like a long way from what you are familiar. 

Sukhumvit road side soi's are convenient but you might like the river area, or The Old City the other side of the Chao Praya River. Lots of good places around On Nut. I lives in Sukhumviurt Soi 26 in a groovy large 4 apartment modern building and also in soi 33 in an apartment building and they were both great spots. 

If your cash flush then there's lots of beautiful quiet smaller apartments building, many in the 30's Sukhumvit sois to rent that are beautiful inner-city living, safe, green all around (river nearby with khlong boats to use), quiet oases after being out and about all day.

Personally to be safe I'd steer clear of living in the lower Sukhumvit soi's, or Silom Patpong area too many sharks there for a newby to manage!

Convenience, as in BTS and MRT connections and motocy routes easily accessed is a good idea to start with. 

I feel confident now after settling in my new home because I did a ton of research and talked to expats on the ground who were smart and savee people who had good, successful safe retirements and relationships with Thai women (some still single).

I will stay in my home for a long time hopefully before shuffling off this mortal coil. (I actually rented very close to where I was thinking of building here to really get a feel for the place and the locals etc). I built because I could afford it, covid downturn brought me a huge saving. I'd never owned a home before and always wanted my own home so a wonderful experience working with the architect, interior designers, landscape designer and the builders. 

Renting for your entire retirement here is a viable option too and very cheap, if you have modest needs. Although there are beautiful places up for grabs now at ridiculous prices although this will change when Covid peters out of course with lease prices returning to pre-Covid levels. Renting allows you to move anywhere you like when your lease expires too ????

I'd sit and write a list of what sort of environment and things you want (close to shopping, city life, country life, quiet, busy, sports, size of apartment or house, pool, gym, bucket list things etc.) then search and research areas that fit what you want - what you think will make a happy comfy life for you.

If you're single then make a contract with yourself not to fall in love with the first nice thai lady you meet. Enjoy your singleness and freedom.

 

I'd consult with some solid real estate agents in your home area and see what their opinion of the renting and selling market are and perhaps rent the home for an income and allow the property to accrue in value over some time rather than sell immediately - check the market and future predictions first! 

Use your Thai passport to enter Thailand - absolutely! BUT DON'T SURRENDER YOUR U.S. ONE. Just keep it in your safe and use it as you need when travelling etc.

As a falang of a different country (also with dual citizenship) I wouldn't NEVER surrender (my birth country passport) or the other one un less absolutely necessary. 

As for things like US drivers licenses I'd go ask at your Motor Registry if you can renew before you leave and get the longest license period you can (in my home country you can get a 10 year license).

Do the same with your passport i.e. get a new one with as many pages as you can and new far-away expiry date. Yes, you can get a new passport in Thailand through your embassy but it's a pain and needless if you do the former if you will visit the States again years down the track.

BANKING: Opening Singapore accounts is easy and a good idea as the place is steady, safe, secure and you can easily quickly transfer to you new Thai accounts (once you open them) for your Immigration required 800K account. Moving money is as easy as pie using the Singapore bank or Dee Money or Transferwise. I use the Transferwise route from Australia as it suits me, is very competitive with rates looking at a the long term movement of money for the rest of my life.

 

[DrJack54]

20 minutes ago, Tropposurfer said:

Good points by @tonray & DrJ.

If you've got savings and a pension coming in and can cover easily your moving and settling expenses (good to rent a place and move around a bit visiting places and staying a while to check exactly where you might like to settle your permanent home - (don't jump at buying a place in the first months, if buying a home is in your mind to do). I would move to BKK first.

The new Immigration rules for falangs to buy land under certain visa criteria/categories is worth checking out. I'm talking with a my lawyer and might buy the land my home is on, if this new initiative is kosher. So, I'd watch that space my friend! 

Not sure what visa type you'll be applying for - retirement I guess. I was lucky enough to have the funds to go with an Elite retirement visa and am very happy I did. It opens a lot of doors very easily, with all sorts of stuff by way of discounts and privileges.

I am certain that it brings a nicer response from all immigration and other officials here in Thailand compared to my previous work, educational and tourist visa's official contacts. 

 

I bought in Phuket after living in BKK and Chiang Mai, east coast beach areas for a short time and visiting a lot of other places too (north east too) before I did so (advice for members here and a few others I knew personally who have also lived in-country for a long time and know what's what in LOS).

I bought after very careful, and months of deliberation and consulting. I'd advise you do the same if buying is on your radar.

There's a solid American lawyer operating in LOS - BKK (one advertises on Thai Visa) who can advise and consult prior to leaving the US.

Don't forget your will n last testament in the US and to get it translated and verified by the US Thai lawyers offices once here.

 

You can find tons of nice monthly rentals everywhere.

You could start with an airbnb which you can book and check out before you leave the US so you have a known place to go to and not a hotel as an example then in a week or so of arrival and having a look around find another rental in an area you like.

Prices are cheap with the Covid thing affecting- bargains everywhere!

Planning what area you'll begin your life in is another consideration too, it will ease the culture shock and thousand yard stare at realising you now like a long way from what you are familiar. 

Sukhumvit road side soi's are convenient but you might like the river area, or The Old City the other side of the Chao Praya River. Lots of good places around On Nut. I lives in Sukhumviurt Soi 26 in a groovy large 4 apartment modern building and also in soi 33 in an apartment building and they were both great spots. 

If your cash flush then there's lots of beautiful quiet smaller apartments building, many in the 30's Sukhumvit sois to rent that are beautiful inner-city living, safe, green all around (river nearby with khlong boats to use), quiet oases after being out and about all day.

Personally to be safe I'd steer clear of living in the lower Sukhumvit soi's, or Silom Patpong area too many sharks there for a newby to manage!

Convenience, as in BTS and MRT connections and motocy routes easily accessed is a good idea to start with. 

I feel confident now after settling in my new home because I did a ton of research and talked to expats on the ground who were smart and savee people who had good, successful safe retirements and relationships with Thai women (some still single).

I will stay in my home for a long time hopefully before shuffling off this mortal coil. (I actually rented very close to where I was thinking of building here to really get a feel for the place and the locals etc). I built because I could afford it, covid downturn brought me a huge saving. I'd never owned a home before and always wanted my own home so a wonderful experience working with the architect, interior designers, landscape designer and the builders. 

Renting for your entire retirement here is a viable option too and very cheap, if you have modest needs. Although there are beautiful places up for grabs now at ridiculous prices although this will change when Covid peters out of course with lease prices returning to pre-Covid levels. Renting allows you to move anywhere you like when your lease expires too ????

I'd sit and write a list of what sort of environment and things you want (close to shopping, city life, country life, quiet, busy, sports, size of apartment or house, pool, gym, bucket list things etc.) then search and research areas that fit what you want - what you think will make a happy comfy life for you.

If you're single then make a contract with yourself not to fall in love with the first nice thai lady you meet. Enjoy your singleness and freedom.

 

I'd consult with some solid real estate agents in your home area and see what their opinion of the renting and selling market are and perhaps rent the home for an income and allow the property to accrue in value over some time rather than sell immediately - check the market and future predictions first! 

Use your Thai passport to enter Thailand - absolutely! BUT DON'T SURRENDER YOUR U.S. ONE. Just keep it in your safe and use it as you need when travelling etc.

As a falang of a different country (also with dual citizenship) I wouldn't NEVER surrender (my birth country passport) or the other one un less absolutely necessary. 

As for things like US drivers licenses I'd go ask at your Motor Registry if you can renew before you leave and get the longest license period you can (in my home country you can get a 10 year license).

Do the same with your passport i.e. get a new one with as many pages as you can and new far-away expiry date. Yes, you can get a new passport in Thailand through your embassy but it's a pain and needless if you do the former if you will visit the States again years down the track.

BANKING: Opening Singapore accounts is easy and a good idea as the place is steady, safe, secure and you can easily quickly transfer to you new Thai accounts (once you open them) for your Immigration required 800K account. Moving money is as easy as pie using the Singapore bank or Dee Money or Transferwise. I use the Transferwise route from Australia as it suits me, is very competitive with rates looking at a the long term movement of money for the rest of my life.

 

Excellent post.

Think you overlooked one VERY important thing. The guy is Thai citizen. My guess perhaps Thai mother or whatever.

Point is he can enter on Thai passport and have nothing to do with immigration.

Also can buy land etc.

Most likely has Thai family here.

Sounds almost like wants a complete break from USA at very least in terms of return visits etc.

Don't think he needs much banking stuff as his plan is to sell up and live in Thailand ongoing. 

[RocketDog]

11 hours ago, tonray said:

 

 

Yes..I also use Skype. They have plans to get a number where anyone can reach you via a normal US number...you select the area code region. Also gives you unlimited calling when dealing with banks, activiating new credit cards, etc etc. Works a charm...been using it for 6 years now without a hitch.

 

https://www.skype.com/en/skype-number/

Yep, that's what I have had for a few months. I'm adding all the appropriate URL info in a reply to the OP.

People call the Colorado area code 303 number and my phone rings here whether the Skype app is open or not. I have unlimited calls to the USA for $2.99/month.

[RocketDog]

Here is a file with URL links to the proper Skype phone plans.

I am very pleased with the price, $10/month, for unlimited service from/to USA, all phone types.

It's cool to be able to have live video call, messages, voice mail, photo, video files, etc.

Even without a Skype account you can talk to anybody already on Skype for free. Of course you can also set up conference calls, etc. The only downside is that to get an account you have to deal with MicroSlut, which I loathe.

Main site:

https://www.skype.com/en/

get phone number by region:

https://secure.skype.com/en/skype-number/

international call plans:

https://secure.skype.com/en/international-calls/

You can also post a minimum $5 payment and get credit to call almost anywhere on the planet, at various rates. High, but you don't have to commit to plan for any given region. When you use it and credit falls below $5 it is automatically charges another $5 increment to your credit card. That option is at the very top of the third link above.

Screen shots are in the attached file.

 

Good luck

 

Skype plan info & URL.doc

[lopburi3]

On 6/17/2021 at 3:15 PM, chicowoodduck said:

most US States allow for DL renewal via the internet until you reach the age of 70

Don't believe that is true anymore - know for fact it is not for Florida - one renewal only.  But if going home every year should not be an issue.  One issue is if from a state with income tax - some don't want to lose that money.

[Misplaced]

On 6/17/2021 at 8:06 PM, prism said:

I'm using a Ting Mobile sim card since some financial intuitions will only send a 2 factor authentication code to a mobile phone. It's about $9 a month. It must be activated in the US and it does have roaming. After you move back to Thailand, don't forget to file your annual FBAR reports online. Tax filing will be more complicated but I use Turbo Tax and it makes it much smoother. 

 

I sure wish I had dual USA and Thai citizenship.   

Do I need to file the FBAR report if I intend to keep my US bank accounts and keep very little in Thailand's bank?  I think my money is safer in the US.  I can always withdraw via atm?

[Misplaced]

Everything you say is true.  However, I will always continued to travel back to the US since my family are here. 

[Misplaced]

16 hours ago, RocketDog said:

Here is a file with URL links to the proper Skype phone plans.

I am very pleased with the price, $10/month, for unlimited service from/to USA, all phone types.

It's cool to be able to have live video call, messages, voice mail, photo, video files, etc.

Even without a Skype account you can talk to anybody already on Skype for free. Of course you can also set up conference calls, etc. The only downside is that to get an account you have to deal with MicroSlut, which I loathe.

Main site:

https://www.skype.com/en/

get phone number by region:

https://secure.skype.com/en/skype-number/

international call plans:

https://secure.skype.com/en/international-calls/

You can also post a minimum $5 payment and get credit to call almost anywhere on the planet, at various rates. High, but you don't have to commit to plan for any given region. When you use it and credit falls below $5 it is automatically charges another $5 increment to your credit card. That option is at the very top of the third link above.

Screen shots are in the attached file.

 

Good luck

 

Skype plan info & URL.doc 746 kB · 0 downloads

Thank you, sir

[tonray]

9 minutes ago, Misplaced said:

Do I need to file the FBAR report if I intend to keep my US bank accounts and keep very little in Thailand's bank?  I think my money is safer in the US.  I can always withdraw via atm?

FBAR is required if at anytime during the year you maintain $10,000 or more in a foriegn bank. In addition, if at anytime during the year you maintain a balance of $75,000 or at the end of the year a balance of at least $50,000 you must file a FATCA form with your tax return. The FBAR filing is online and takes 10 minutes...anyone with 800K in Thai bank for retirement extension needs to do it...no big deal.

[lopburi3]

43 minutes ago, tonray said:

FBAR is required if at anytime during the year you maintain $10,000 or more in a foriegn bank. In addition, if at anytime during the year you maintain a balance of $75,000 or at the end of the year a balance of at least $50,000 you must file a FATCA form with your tax return. The FBAR filing is online and takes 10 minutes...anyone with 800K in Thai bank for retirement extension needs to do it...no big deal.

But poster is Thai so no need for any bank balance for retirement - but in general Thai accounts are safe and much easier to use than ATM (which all change fees).  But you can keep it below the $10k to avoid FBAR if you want - but as said it is only about 10 minute online process to do - you just need your bank accounts for the year and convert to USD.

[Misplaced]

6 hours ago, lopburi3 said:

But poster is Thai so no need for any bank balance for retirement - but in general Thai accounts are safe and much easier to use than ATM (which all change fees).  But you can keep it below the $10k to avoid FBAR if you want - but as said it is only about 10 minute online process to do - you just need your bank accounts for the year and convert to USD.

Thank you. I plan to keep my US bank accounts and retirement accounts in the US as is. I can transfer funds as needed while continued to use atm for daily expenses.

[walt1]

With the US passport you can travel much easier to more places so agree keep that. I also have the Skype US telephone number , works great mine is $50 USD year. I don't have the plan for calls just pay per minute 2.3 cents to US. Set up the my SS account before leaving the states and it's easy to start from Thailand. While the house could generate income is it worth the worry and hassle? I came to the conclusion it wasn't and sold mine. I would keep some Baht accounts transfer in when good exchange rates as a buffer when it's down. The FBAR reporting is easy if needed. Not sure what state you are in but if have state taxes consider ways to avoid them. I sent the required form with my final tax return saying I moved, so only the FEDs to worry about.

[Salerno]

  

On 6/17/2021 at 8:48 PM, J Town said:

Beware of foreign transaction fees (FTA) on most US credit cards, typically 4%. Before making the plunge, shop around. They're out there - no FTA and no annual fee.

 

@Misplaced As J Town mentioned, fees with bad cards can quickly build up. Charlie Schwab seems to be the go-to card for you guys.

 

What about relocating "home State" to a no/low tax State before heading across given what you said re not wanting to live where you are anymore. Not sure what the deal is with that (what taxes are involved?); have seen it mentioned before in similar discussions but not in this thread as yet.

 

Edit: and as I was typing walt1 mentioned taxes ????

Edited June 20, 2021 by Salerno

[Salerno]

If you don't already have a Thai driving licence might be worth getting an IDP before leaving the States. 

[walt1]

Good idea the IDP makes getting the Thai one easier. I type so slow I run into that problem too.

[flexomike]

On 6/17/2021 at 11:28 AM, Captain Monday said:

If you have Thai nationality if I were you I would renounce US citizenship. The fee with the US consulate will cost you about $2350, unless you are some kind of multimillionaire you may have to pay an exit tax. You will still be entitled to social security payment and 401k, and pensions but will never have to file a tax return or do FATCA reporting, 

 

Maybe try to get a Singaporean bank and investment account and shift all your assets there.  You will be 100 percent Thai though for overseas travel, if you want to go to the US you will need to get need to secure a Visa like any other Thai person.

I would not do that unless you are never planning on returning to the US

[Salerno]

12 minutes ago, walt1 said:

I type so slow I run into that problem too.

 

I'm normally doing at least 2 or 3 things when on here and my fingers don't move unless I look at them so have been caught before too. Bummer, thought an Aussie was going to get in before a yank on taxes was going to throw a (tea) party ????

 

Edited June 20, 2021 by Salerno

[Tropposurfer]

On 6/18/2021 at 5:25 PM, DrJack54 said:

Excellent post.

Think you overlooked one VERY important thing. The guy is Thai citizen. My guess perhaps Thai mother or whatever.

Point is he can enter on Thai passport and have nothing to do with immigration.

Also can buy land etc.

Most likely has Thai family here.

Sounds almost like wants a complete break from USA at very least in terms of return visits etc.

Don't think he needs much banking stuff as his plan is to sell up and live in Thailand ongoing. 

Ah nope I didn't miss that but thanks for the response to my post. Just cause the guys Thai don't mean he will buy land or a home - I made no assumptions or misunderstanding that as a Thai he has full citizens rights including buying anything he chooses and can afford with ease. I hoped I wrote clearly about immigration ... I knew/know he has little to do when entering other than to show a current Thai passport and can walk through Immigration control once the passport is scanned and not flagged. I wasn't aware my post implied anything other than that.

[DrJack54]

On 6/18/2021 at 2:00 PM, Tropposurfer said:

The new Immigration rules for falangs to buy land under certain visa criteria/categories is worth checking out. I'm talking with a my lawyer and might buy the land my home is on, if this new initiative is kosher. So, I'd watch that space my friend! 

Not sure what visa type you'll be applying for - retirement I guess. I was lucky enough to have the funds to go with an Elite retirement visa and am very happy I did. It opens a lot of doors very easily, with all sorts of stuff by way of discounts and privileges.

Doesn't sound like useful information to a Thai national. Move on

[lopburi3]

3 hours ago, Tropposurfer said:

Ah nope I didn't miss that but thanks for the response to my post. Just cause the guys Thai don't mean he will buy land or a home - I made no assumptions or misunderstanding that as a Thai he has full citizens rights including buying anything he chooses and can afford with ease. I hoped I wrote clearly about immigration ... I knew/know he has little to do when entering other than to show a current Thai passport and can walk through Immigration control once the passport is scanned and not flagged. I wasn't aware my post implied anything other than that.

Actually you also said below which clearly if he enters as a Thai is not required.

Quote

BANKING: Opening Singapore accounts is easy and a good idea as the place is steady, safe, secure and you can easily quickly transfer to you new Thai accounts (once you open them) for your Immigration required 800K account.

 

[kiteman9]

On 6/17/2021 at 4:23 PM, donmuang37 said:

If you retain your US citizenship:

1. Get a good mail forwarding service. Don't rely on friends or relatives - they will eventually get tired of it.  Or forget at worse time!

2. Keep at least one US bank account.

3. Keep your US credit cards. They usually have much lower limits here and can be more difficult to obtain, especially if you don't have a good job.  Use your US address for billing.  Pay online from your US bank account.

4. Keep a USA mobile phone number and use it when you use your credit cards (hotels, airlines, Amazon, etc.)  If you use your Thai phone number, it won't match your USA billing address, and your charge will be rejected.  I keep an AT&T number for about $60/month.

5.  File your US income tax (if any) online using Turbotax.  It's easy if you follow the step-by-step directions.

Good luck,

Don

I transfered my AT&T numbers to this company years ago and get calls and texts on my Thai number when anyone rings my AT&T numbers. https://www.tossabledigits.com

[Tropposurfer]

On 6/20/2021 at 11:28 PM, lopburi3 said:

Actually you also said below which clearly if he enters as a Thai is not required.

 

How does my post indicate or demonstrate a misdirection of the member, or a lack of understanding that he is indeed Thai? It does however clearly indicate and acknowledge this member has assets overseas in US property and currency, and that movement of money back into Thailand might be financially secure and fiscally sound in managing these considerable assets/funds from a secure Singapore bank, and as such allow him to access financial leverages in investing these funds ex-of the morass of Thai laws and 'fees' levied around almost every financial transaction one can think of. Tye laws in banking and the fees in Singapore are far more user friendly than Thailand - this is a well known fiscal fact.

Lots of folks around the world with dual (or singular) nationality hold monies in banking systems outside of their home, or resident countries for financial, and security, and privacy beneficial reasons. That's why for example the Swiss, Cayman and other offshore banking systems are so popular). Dear me but there are some seriously, assumptive pedants on this forum. Perhaps you might consider a career in law.