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104
world wide income taxation update
Including all the LTR categories, there have only been 6,000ish visas issued in 28 months (from Sept 22 until Dec 2024). If it wan’t declining, there would be no need to ease the requirements. “As of the end of 2024, the BOI has already granted LTR visas to more than 6,000 applicants. Europe leads the list with 2,500 recipients, followed by the United States (1,080), Japan (610), China (340), and India (280).” https://www.prnewswire.com/apac/news-releases/thailand-approves-update-of-long-term-resident-ltr-visas-criteria-and-conditions-to-attract-a-wider-range-of-foreign-experts-investors-and-executives-302351256.html#:~:text=As of the end of,to more than 6%2C000 applicants. Thailand desperately needs people to buy all the unsold condos and many more are still under construction. “In 2023, the unsold units of residential real estate in the eastern region of Thailand grew by approximately 14.3 percent compared to the previous year. In that same year, the number of unsold residential units in the country amounted to over 356.77 thousand units.” https://www.statista.com/statistics/1290951/thailand-growth-of-unsold-residence-units-by-region/ In Bangkok alone, there were approximately 85,000 unsold condos as of mid 2023 and there are countless projects still under construction and the sales have actually slowed down since then. https://www.bangkokpost.com/property/2928811/condo-market-subdued-in-q4 -
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Thailand Eases Long-Term Visa Conditions to Draw Wealthy Foreigners and Digital Nomads
Shows that there were after all not that many wealthy people favouring to stay in Thailand... -
119
what money is taxed 2024 ?
All of those may be true, but only if they do NOT declare their non-assessable income. Claiming an exemption per DTA or applying a tax credit is currently UNpossible under the current system with the current forms, including the brand spanking new 2024 Thai forms. If you claim the income, it's assessable, and if above your TEDA is taxable. No way around that other than hiring a professional to sit with you in the tax office, explain the situation, and then having the officer tell you DO NOT DECLARE NON_ASSESSABLE INCOME. Congratulations! You've just spent 25k baht for a professional to do what you could have done at home for free in your underwear. -
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Advise sought on second hand PCX or Nmax
Thanks for the heads up. I bought a 3 month old bike already, so it still has 4 years and 9 months warranty. I presume that the defects you mention are covered by the warranty? -
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400.000 Baht disappeared, a story of BKK Bank, SCB and Advice IT
Whilst I am sure your wife is "different" what if she takes that money before you die?
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