Thai Exchange for non-residents

[Capt23]

Is there an exchange that non-residents can register with?

 

I want to use it to send money before I am a resident so I don't have to worry about tax implications.

[JBChiangRai]

What exactly do you want to do?

 

There is full income tax payable on the sale of crypto or on the profits on crypto depending where you bought if sold on a Thai exchange.

[Capt23]

You only have to pay tax if you are a tax resident I.e. spend 183 days or more in Thailand during a calendar year.

 

I want to transfer money there this year and move next year. From what I understand this is completely legal.

 

I have a Thai bank account from living there 2 years ago but obviously don't have a valid long term visa so I can't set up accounts with binance.th (from what I understand).

 

I wanted to find out if anyone knows an exchange which doesn't require residency documents to set up an account so I can trf money into my Thai account.

[chiang mai]

10 minutes ago, Capt23 said:

You only have to pay tax if you are a tax resident I.e. spend 183 days or more in Thailand during a calendar year.

 

I want to transfer money there this year and move next year. From what I understand this is completely legal.

 

I have a Thai bank account from living there 2 years ago but obviously don't have a valid long term visa so I can't set up accounts with binance.th (from what I understand).

 

I wanted to find out if anyone knows an exchange which doesn't require residency documents to set up an account so I can trf money into my Thai account.

I can't imagine a scenario where you will be allowed to open any form of  account here, without a long term visa or similar. Thailand is not an offshore banking center and has even tightened rules on non-resident foreigners currency accounts, even they need documentation in order to open an account.

[JBChiangRai]

It also depends on your nationality, if you’re American it will be very difficult.

 

BitKub wants identity and proof of address (blue book), Check out the website and see if you can do anything with a lower transaction limit.

[paddypower]

Can OP clarify?  are the funds currrently in fiat or crypto? I do not know the rules on the max of fiat currency which you can transfer in to your Thai bank account. But persumably you can stagger it (multiple transfers). if it is crypto currency, there is a borderless market to sell crypto in exchange for Thai fiat. I buy and sell crypto for Thai baht on Local Coin Swap. i must be missing the point of the OP's question

Edited yesterday at 01:38 AM by paddypower
spell

[JBChiangRai]

27 minutes ago, paddypower said:

Can OP clarify?  are the funds currrently in fiat or crypto? I do not know the rules on the max of fiat currency which you can transfer in to your Thai bank account. But persumably you can stagger it (multiple transfers). if it is crypto currency, there is a borderless market to sell crypto in exchange for Thai fiat. I buy and sell crypto for Thai baht on Local Coin Swap. i must be missing the point of the OP's question

 

You have the same taxation issues as selling on a Thai exchange.

[paddypower]

6 minutes ago, JBChiangRai said:

 

You have the same taxation issues as selling on a Thai exchange.

who, me worry about the Thai tax system? 555. i do/will pay tax on my pension and Thai sourced income. but crypto - they don't have a clue, they are too busy stealing at the public trough, or operating ganja farms.

Edited yesterday at 02:12 AM by paddypower
spell

[JBChiangRai]

6 minutes ago, paddypower said:

who, me worry about the Thai tax system? 555. i do/will pay tax on my pension and Thai sourced income. but crypto - they don't have a clue, they are too busy stealing at the public trough, or operating ganja farms.

 

You couldn't be more wrong.  I think you can bring money into the country without any issue, but they are like mustard on the crypto exchanges and all the brokers on localcoinswap will 100% be giving your details to them.

 

The safest way is to sell here when non-tax resident or sell overseas and bring the money here.

[paddypower]

12 minutes ago, JBChiangRai said:

 

You couldn't be more wrong.  I think you can bring money into the country without any issue, but they are like mustard on the crypto exchanges and all the brokers on localcoinswap will 100% be giving your details to them.

 

The safest way is to sell here when non-tax resident or sell overseas and bring the money here.

really? thanks for that tip. is there a solid source ? I must check the scene with my friends here, in LOS, who are major players.  

[JBChiangRai]

1 minute ago, paddypower said:

really? thanks for that tip. is there a solid source ? I must check the scene with my friends here, in LOS, who are major players.  

 

You will find the crypto tax listed in one of the tax guides posted on AN, I will save you looking it up, if you bought your crypto on a regulated Thai exchange you pay PIT (up to 35%) on the profit, if you didn't buy it this way then you pay PIT on the entire transaction amount.  All the approved exchanges practice KYC and output data to the TRD every year.  

 

If you sell overseas and bring the money here, it's up to you "if and how" you declare it. 

[Yumthai]

6 hours ago, JBChiangRai said:

You couldn't be more wrong.  I think you can bring money into the country without any issue, but they are like mustard on the crypto exchanges and all the brokers on localcoinswap will 100% be giving your details to them.

There's actually a Cardless Cash (via ATM) payment option offered by some merchants. No KYC/bank account is necessary.

 

6 hours ago, JBChiangRai said:

The safest way is to sell here when non-tax resident or sell overseas and bring the money here.

100% agree.

[JBChiangRai]

3 minutes ago, Yumthai said:

There's actually a Cardless Cash (via ATM) payment option offered by some merchants. No KYC/bank account is necessary.

 

 

 

Cardless Cash won't work for me, I typically sell more than 1 BTC at a time.

[Capt23]

17 hours ago, paddypower said:

Can OP clarify?  are the funds currrently in fiat or crypto? I do not know the rules on the max of fiat currency which you can transfer in to your Thai bank account. But persumably you can stagger it (multiple transfers). if it is crypto currency, there is a borderless market to sell crypto in exchange for Thai fiat. I buy and sell crypto for Thai baht on Local Coin Swap. i must be missing the point of the OP's question

Local Coin Swap might be what I am looking for.

 

I don't have to worry about amounts because I'm not a tax resident. I can transfer any amount into my Thai bank account. 

 

Can I open a Local Coin Swap account without being a Thai resident and use that to trf fiat to my Thai bank account?

 

That was my original problem.

[Yumthai]

6 hours ago, Capt23 said:

Can I open a Local Coin Swap account without being a Thai resident and use that to trf fiat to my Thai bank account?

Sure you can.