Visa run to Cambodia

[Burma Bill]

Visa run to Cambodia

For reference from today's Cambodian press (27th February 2022):-

 

 

The Ministry of Tourism has announced that a Thai airline will resume flights from Bangkok to Siem Reap and from Siem Reap to Bangkok from March 3, 2022 onwards. (Thai Smile from BKK)

https://www.khmertimeskh.com/501032546/bangkok-siem-reap-flights-will-resume-from-march-3-2022/

 

[thaisail]

On 2/26/2022 at 10:12 PM, ericthai said:

You might want to check into FBAR more. My understanding from my accountant is that transferring money out of your account wont help with FBAR.

 

I was told that the rules state that if your foreign bank account (and any bank accounts you have access to, I have to list our corporate accountants as I'm listed as an officer with account access) exceeds $10,000 in a year you have to file. However, I have been told that it's also an annual aggregate total.  I use an the account at my lawyers office for my taxes.

I know that the balance for all accounts outside of the US combined must be under $10,000 or a FBAR must be filed before the October deadline. So I will now have to file a FBAR for 2022 tax year (Jan. 1 to Dec. 31) and because my local IO in Chiang Khan is demananding more than 45,000 instead of the legally required 40,000 baht per month to qualify for the monthly income method, I will have to complete 12 monthly foreign bank transfers over the next year of more than 45,000 baht. So today I have transferred 46,500 baht using Wise for the first time and the transfer was recorded with Bangkok Bank as an international bank transfer even though it was sent by "Wise" former (Transfer Wise). Unfortunately the funds arrived on February 28 instead of March 1st as planned. WISE is really easy to use, takes half the time of a bank to bank transfer and the speed of the transfer is twice as fast as before. Plus, I will know the exact amount in Thai Baht going into my account.  

 

I will re-apply for my marriage visa extension in April before my Non O visa expires and by then I will have 400,000 baht in my Kasikorn account for 2 months prior to my application. But unlike this year, I will leave the 400,000 baht in Kasikorn for an entire year and when I renew my marriage visa extension in April 2023, I will keep transferring 45K+ baht for the entire year to Bangkok Bank and I will try again to show only the Bangkok Bank statements in April 2023. If they refuse to give me the extension next year, I will get a letter from Kasikorn showing the 400K baht balance for the entire year and I will ask my IO if I must keep that 400k in my name. If he says no need, I will transfer again 200k baht to my wife's Kasikorn and 2023 will hopefully be the last year of having to file the FBAR. 

 

I have a bank account also in France so I must add those funds to my Thai bank account and if the combines balance does not exceed $10,000 US, I should no longer have to file an FBAR.