Thailand - No Longer A Cheap Retirement Destination

[kevozman1]

The baht value you stated: 75 baht to £. It was only at that rate for

a short amount of time. It tended to float around the 70 baht - £ mostly

4-6 years ago, now it floats around the 50 baht - £.

So exchange rates for a Brit are around 25-30% worse off and prices have risen

(inflation, happens all over the World!!!!).

[jesimps]

you admit that you too are full of wind, p*#@ and criticism. [unquote]

Oh, I could criticise you all night pal. I could criticise the fact that you hover, waiting to jump on any small part of a post that you can pass a silly comment.

I could criticise you on the fact that you have never offered a helpful comment in all the time I've been coming on these boards.

I could criticise the moderators for not having banned you a long time ago.

I could criticise you on the fact that you think you are a comedian, despite the fact that you're incredibly UNfunny.

etc etc etc

Tell you what though pal, if you promise to pick up my bar tab, I'll drink my whisky in whatever way you desire. I'll even have it in a glass with an umbrella stuck in a cherry.

Pathetic twerp!

[kevozman1]

^Oh I say. Bit of hostilaity in the air.

That whiskey can bring out the worst in us.

Edited August 18, 2010 by kevozman1

[jingjoke]

Oh, I could criticise you all night pal. I could criticise the fact that you hover, waiting to jump on any small part of a post that you can pass a silly comment.

I could criticise you on the fact that you have never offered a helpful comment in all the time I've been coming on these boards.

I could criticise the moderators for not having banned you a long time ago.

I could criticise you on the fact that you think you are a comedian, despite the fact that you're incredibly UNfunny.

etc etc etc

Tell you what though pal, if you promise to pick up my bar tab, I'll drink my whisky in whatever way you desire. I'll even have it in a glass with an umbrella stuck in a cherry.

Pathetic twerp!

Thank you jesemps! You correctly nailed that caustic creep, and psychotic mess. I could puke at the infantile and sarcastic crap she's posted over the years to be that bit better than everyone else; and the mods have yet to ban her. Thanks again!

[jesimps]

Oh, I could criticise you all night pal. I could criticise the fact that you hover, waiting to jump on any small part of a post that you can pass a silly comment.

I could criticise you on the fact that you have never offered a helpful comment in all the time I've been coming on these boards.

I could criticise the moderators for not having banned you a long time ago.

I could criticise you on the fact that you think you are a comedian, despite the fact that you're incredibly UNfunny.

etc etc etc

Tell you what though pal, if you promise to pick up my bar tab, I'll drink my whisky in whatever way you desire. I'll even have it in a glass with an umbrella stuck in a cherry.

Pathetic twerp!

Thank you jesemps! You correctly nailed that caustic creep, and psychotic mess. I could puke at the infantile and sarcastic crap she's posted over the years to be that bit better than everyone else; and the mods have yet to ban her. Thanks again!

Pleasure, just telling it as it is. Nice to know there are people on these boards who aren't sychophants of his. Without his toadies I think he'd have been banished long ago.

[Naam]

Oh, I could criticise you all night pal. I could criticise the fact that you hover, waiting to jump on any small part of a post that you can pass a silly comment.

I could criticise you on the fact that you have never offered a helpful comment in all the time I've been coming on these boards.

I could criticise the moderators for not having banned you a long time ago.

I could criticise you on the fact that you think you are a comedian, despite the fact that you're incredibly UNfunny.

etc etc etc

Tell you what though pal, if you promise to pick up my bar tab, I'll drink my whisky in whatever way you desire. I'll even have it in a glass with an umbrella stuck in a cherry.

Pathetic twerp!

Thank you jesemps! You correctly nailed that caustic creep, and psychotic mess. I could puke at the infantile and sarcastic crap she's posted over the years to be that bit better than everyone else; and the mods have yet to ban her. Thanks again!

[jesimps]

Oh, I could criticise you all night pal. I could criticise the fact that you hover, waiting to jump on any small part of a post that you can pass a silly comment.

I could criticise you on the fact that you have never offered a helpful comment in all the time I've been coming on these boards.

I could criticise the moderators for not having banned you a long time ago.

I could criticise you on the fact that you think you are a comedian, despite the fact that you're incredibly UNfunny.

etc etc etc

Tell you what though pal, if you promise to pick up my bar tab, I'll drink my whisky in whatever way you desire. I'll even have it in a glass with an umbrella stuck in a cherry.

Pathetic twerp!

Thank you jesemps! You correctly nailed that caustic creep, and psychotic mess. I could puke at the infantile and sarcastic crap she's posted over the years to be that bit better than everyone else; and the mods have yet to ban her. Thanks again!

It isn't funny soft lad. It's big kids like you that stopped me using this forum to obtain advice. Believe it or not, the forum is here to help people, not for you to practise your sledgehammer wit.

[chops]

where are you going to go? thailand is still very cheap. would you ever be able to find a decent $100 a month apartment in the west? nope. fast food for $1? nope.

i'll admit some things have this nasty VAT tax on them, like cars and booze. but if you don't consume much of those goods, the place is really quite a good deal still. although not as much as 5 years ago.

[musiclover]

Oh, I could criticise you all night pal. I could criticise the fact that you hover, waiting to jump on any small part of a post that you can pass a silly comment.

I could criticise you on the fact that you have never offered a helpful comment in all the time I've been coming on these boards.

I could criticise the moderators for not having banned you a long time ago.

I could criticise you on the fact that you think you are a comedian, despite the fact that you're incredibly UNfunny.

etc etc etc

Tell you what though pal, if you promise to pick up my bar tab, I'll drink my whisky in whatever way you desire. I'll even have it in a glass with an umbrella stuck in a cherry.

Pathetic twerp!

Thank you jesemps! You correctly nailed that caustic creep, and psychotic mess. I could puke at the infantile and sarcastic crap she's posted over the years to be that bit better than everyone else; and the mods have yet to ban her. Thanks again!

Pleasure, just telling it as it is. Nice to know there are people on these boards who aren't sychophants of his. Without his toadies I think he'd have been banished long ago.

So who are we talking about here? i cant find the relevant post or poster!

[LivinLOS]

Thailand - No Longer A Cheap Retirement Destination

i fully agree and claim that Thailand is not only extremely cheap for those who would pay 45% (or more) of their income to the taxman in their home countries but live a very comfortable life in Thailand without spending a single penny as all expenses (and much more) are covered by their savings on income tax.

:jap:

But what kind of a fool would pay that ?? When blind trusts and offshore companies are so easy and cheap to administer.

If your smart enough to make a few million, your sure smart enough to keep it.

[Naam]

Thailand - No Longer A Cheap Retirement Destination

i fully agree and claim that Thailand is not only extremely cheap for those who would pay 45% (or more) of their income to the taxman in their home countries but live a very comfortable life in Thailand without spending a single penny as all expenses (and much more) are covered by their savings on income tax.

:jap:

But what kind of a fool would pay that ?? When blind trusts and offshore companies are so easy and cheap to administer.

If your smart enough to make a few million, your sure smart enough to keep it.

you are missing an important point LivinLos. hiding millions is no problem at all provided you don't spend the adequate proceeds. in my home country i can't own and maintain a home (like the one in Thailand), conduct my present life style (e.g. live-in domestic staff), buy an expensive car whenever i feel like, board with the Mrs a plane holding two first class boarding cards and then tell the taxman the fairy tale that i am making only the modest amount of €100k a year which (after taxes) pay only for a 'moderate' living.

perhaps that can be done for a year or two but then it's over and if i am unlucky i go for a year or two behind bars and that applies to the Mrs too who has to co-sign the joint tax return. prison sentences without probation are now mandatory in Germany if tax evasion exceeds a certain amount.

other countries in Europe exist where the laws are even more strict and tax havens like Monaco or some cantons in Switzerland where peanuts in taxes are levied are just too expensive to live when you have certain demands as far as "living" is concerned. i smiled several times when ignorants naïve members of Thaivisa mentioned Monaco as an alternative retirement location as the price of a shitty 26m² studio apartment in Monte Carlo (with a view to the building's garbage cans) can easily surpass 1.5 million EURos (60 million Baht).

[LivinLOS]

Thailand - No Longer A Cheap Retirement Destination

i fully agree and claim that Thailand is not only extremely cheap for those who would pay 45% (or more) of their income to the taxman in their home countries but live a very comfortable life in Thailand without spending a single penny as all expenses (and much more) are covered by their savings on income tax.

:jap:

But what kind of a fool would pay that ?? When blind trusts and offshore companies are so easy and cheap to administer.

If your smart enough to make a few million, your sure smart enough to keep it.

you are missing an important point LivinLos. hiding millions is no problem at all provided you don't spend the adequate proceeds. in my home country i can't own and maintain a home (like the one in Thailand), conduct my present life style (e.g. live-in domestic staff), buy an expensive car whenever i feel like, board with the Mrs a plane holding two first class boarding cards and then tell the taxman the fairy tale that i am making only the modest amount of €100k a year which (after taxes) pay only for a 'moderate' living.

perhaps that can be done for a year or two but then it's over and if i am unlucky i go for a year or two behind bars and that applies to the Mrs too who has to co-sign the joint tax return. prison sentences without probation are now mandatory in Germany if tax evasion exceeds a certain amount.

other countries in Europe exist where the laws are even more strict and tax havens like Monaco or some cantons in Switzerland where peanuts in taxes are levied are just too expensive to live when you have certain demands as far as "living" is concerned. i smiled several times when ignorants naïve members of Thaivisa mentioned Monaco as an alternative retirement location as the price of a shitty 26m² studio apartment in Monte Carlo (with a view to the building's garbage cans) can easily surpass 1.5 million EURos (60 million Baht).

You missing one of the benefits..

You see the blind trust owns the home, buys the cars, pays the maids, does whatever it wants too (with the added advantage in my home country that overseas entities pay no capital gains on property taxes last time I checked) which can of course be passed to heirs (blindly) totally inheritance tax free. Then you have an employment contract from that company, with a token modest income, paying a small amount of tax, and a gold card for 'company expenses' as provided in your contract.

Theres far cheaper 'havens' than Monaco, tho people only seem to know the big names.. Morocco currently offers zero tax rates on income generated outside the country but of course you then have 90 day travel restrictions to home countries per tax year, or at least the UK is down to 90 days. Andorra is pricey but nothing like Monaco and tax free on goods might even help if your a large consumer of 'stuff'.

Advantages of blind trusts are far greater than taxation tho.. Serial entrepreneurs may (will) have businesses fold, by using a blind trust your assets are shielded, your protected from litigious parters or spouses, your assets remain healthy through divorce, you become a 'man of straw' which is very freeing as concern over asset protection is a large part of the modestly well offs worries.

Edited August 29, 2010 by LivinLOS

[Naam]

You see the blind trust owns the home, buys the cars, pays the maids, does whatever it wants too (with the added advantage in my home country that overseas entities pay no capital gains on property taxes last time I checked) which can of course be passed to heirs (blindly) totally inheritance tax free. Then you have an employment contract from that company, with a token modest income, paying a small amount of tax, and a gold card for 'company expenses' as provided in your contract.

that might work perhaps in your or any home country where the taxman is a dummy², but not in mine!

[LivinLOS]

You see the blind trust owns the home, buys the cars, pays the maids, does whatever it wants too (with the added advantage in my home country that overseas entities pay no capital gains on property taxes last time I checked) which can of course be passed to heirs (blindly) totally inheritance tax free. Then you have an employment contract from that company, with a token modest income, paying a small amount of tax, and a gold card for 'company expenses' as provided in your contract.

that might work perhaps in your or any home country where the taxman is a dummy², but not in mine!

Its not a question of can work, it does work, its not illegal.. You just have to be very careful on the issue of 'ownership' of the blind trust and administration.

If your not technically the owner of the trust, its not your assets, and you dont have to pay tax on them.

[dmax]

retire in sihanoukville in cambodia, miles better, no s**y visa regulations as thailand has

[Naam]

that might work perhaps in your or any home country where the taxman is a dummy², but not in mine!

Its not a question of can work, it does work, its not illegal.. You just have to be very careful on the issue of 'ownership' of the blind trust and administration.

If your not technically the owner of the trust, its not your assets, and you dont have to pay tax on them.

i does NOT work in a country where the taxman is not utmost stupid. you can't live in a mansion, enjoy the service of domestic staff, drive expensive cars, etc. (all expenses paid for by an offshore trust) without being liable for income tax which is equivalent, respectively in relation to the total expenditure. in most countries (including the U.S. of A.) perks are taxable. the IRS even estimates and taxes the tips of waiters!

in countries which are not tax havens you can only avoid income tax if the proceeds of the trust are not distributed and you live like a pauper. i am talking of european countries such as Germany, France, Spain, Austria and especially all scandinavian countries. by the way, the latter (scandinavian countries) have a tax load which makes the hardliner taxmen of Germany and France look like forlorn orphans in the dark woods.

did i mention that taxes, trusts, legal tax saving schemes and making money is my major hobby since decades?

[rgs2001uk]

retire in sihanoukville in cambodia, miles better, no s**y visa regulations as thailand has

What "s**y visa regulations" are you talking about?

Thailand must rank up there as one of the easiest countries to live in (if married to a Thai) or retire to.

The zero income tax is pretty nice as well, when compared to countries such as Canada or Australia.

[phutoie2]

retire in sihanoukville in cambodia, miles better, no s**y visa regulations as thailand has

What "s**y visa regulations" are you talking about?

Thailand must rank up there as one of the easiest countries to live in (if married to a Thai) or retire to.

The zero income tax is pretty nice as well, when compared to countries such as Canada or Australia.

You just got off the boat??.

You think current Thai Immigration requirements a breeze for retirement or extension on support Thai wife, + 90 day address reporting etc etc!!.

Have another sip of Chang, do some research and report back!.

In fact, stay off the booze, Just noticed your comment on zero income tax:whistling:

[Naam]

retire in sihanoukville in cambodia, miles better, no s**y visa regulations as thailand has

What "s**y visa regulations" are you talking about?

Thailand must rank up there as one of the easiest countries to live in (if married to a Thai) or retire to.

The zero income tax is pretty nice as well, when compared to countries such as Canada or Australia.

You just got off the boat??.

You think current Thai Immigration requirements a breeze for retirement or extension on support Thai wife, + 90 day address reporting etc etc!!.

Have another sip of Chang, do some research and report back!.

In fact, stay off the booze, Just noticed your comment on zero income tax

perhaps that applies to you? or are you not aware that a retiree in Thailand does not pay any income tax?

[phutoie2]

Well this may come as a bit of a shock then Mr Know it all. Those who have served in the UK armed forces and are in receipt of a Goverment service pension will pay income tax at source back in the UK, regardless of where you live or retire in the world.

[bangkokburning]

US also require you to pay tax no matter where you are in the world, but...if retired and your only income is investments, that tax can be 15% AND the first 75k is not taxed at all.

Despite Nam's issues of not paying taxes to his country that afforded him the oppty to make those funds...

The US allows many very, very legal trusts to operate. These are not without costs such as giving away the assets often times. But LivinLOS is correct, very legal, SOP for many wealthy persons.

[rgs2001uk]

retire in sihanoukville in cambodia, miles better, no s**y visa regulations as thailand has

What "s**y visa regulations" are you talking about?

Thailand must rank up there as one of the easiest countries to live in (if married to a Thai) or retire to.

The zero income tax is pretty nice as well, when compared to countries such as Canada or Australia.

You just got off the boat??.

You think current Thai Immigration requirements a breeze for retirement or extension on support Thai wife, + 90 day address reporting etc etc!!.

Have another sip of Chang, do some research and report back!.

In fact, stay off the booze, Just noticed your comment on zero income tax:whistling:

Yes thats right just of the boat, I am shortly due to do my 6th extension based on marriage to a Thai.

In my experience the process is a walk in the park, usually completed in about 10 minutes, the first did take about 20 minutes .

90 day reporting, can leave the house and be back about one hour later, this is in Bangkok, cant comment on elsewhere.

An oversight on my part, forgot to mention the 300 baht I was taxed on interest on the money I have in a Thai bank account for extension needs.

Dont drink Chang, but appreciate others may well not have an option.

Any more comments or questions?

BB said "Despite Nam's issues of not paying taxes to his country that afforded him the oppty to make those funds..."

Cant comment for Naam, only myself, my country didnt afford me the opportunity to make those funds, I worked overseas in a country where there was no income tax, and structured my funds in such a way that they dont come under the jusisdiction of my home country.

I will admit to having some funds in my home country, but as I am no longer resident there for tax purposes I am not taxed.

Thankfully Uncle Sams long arm doesnt apply to me, but I feel your pain.

[billd766]

retire in sihanoukville in cambodia, miles better, no s**y visa regulations as thailand has

What "s**y visa regulations" are you talking about?

Thailand must rank up there as one of the easiest countries to live in (if married to a Thai) or retire to.

The zero income tax is pretty nice as well, when compared to countries such as Canada or Australia.

You just got off the boat??.

You think current Thai Immigration requirements a breeze for retirement or extension on support Thai wife, + 90 day address reporting etc etc!!.

Have another sip of Chang, do some research and report back!.

In fact, stay off the booze, Just noticed your comment on zero income tax:whistling:

I think that the current Thai requirements for a retirement visa are that easy, mine took 20 minutes last month.

Granted that I had to drive 125 km to Nakhon Sawan and back but I combined that with a monthly bulk shopping trip which I do anyway.

90 day reporting can be done by post or I can ride down on my motorbike for a trip.

phutoie2 this morning

Well this may come as a bit of a shock then Mr Know it all. Those who have served in the UK armed forces and are in receipt of a Goverment service pension will pay income tax at source back in the UK, regardless of where you live or retire in the world.

You can quote me as a Know it all as well because I did know that long before I got to Thailand to live and I know I cannot get out of it.

I pay tax on my armed forces pension, company pension and state pension to the UK government and there is nothing I can do about it so like most people I just live with it and don't whine about it.

In fact if your armed forces pension is below the current UK tax threshold you actually pay no tax on it anyway.

Having lived and worked in 38 countries around the world I have found no better country to retire to and certainly not the over regulated PC country that I was born in and proudly served for 25 years boy and man.

Also I don't drink Chang but I have acquired a taste for Sang Som and soda with ice though it rare that I start drinking before 6 in the evening.

I have a Thai wife and son and every year when I get my visa I also get some new rose tinted glasses.

[Naam]

BB said "Despite Nam's issues of not paying taxes to his country that afforded him the oppty to make those funds..."

Cant comment for Naam, only myself, my country didnt afford me the opportunity to make those funds, I worked overseas in a country where there was no income tax, and structured my funds in such a way that they dont come under the jusisdiction of my home country.

I will admit to having some funds in my home country, but as I am no longer resident there for tax purposes I am not taxed. Thankfully Uncle Sams long arm doesnt apply to me, but I feel your pain.

the same applies to me. for nearly 20 years i worked my àss off in the desert, the jungle, the swamps and the bush. working not 5 days a week from 9-5 but 7 days a week and most of the time 12-15 hours a day. if i had died, incapacitated by an accident or something like that, my country would have cared a <deleted> about me or my family except perhaps for some welfare entitlements. besides, during the years when i owned a house in Germany but did not live there (a fact that made me liable to pay income tax for my worldwide income) i paid a multiple of taxes that my average country fellow pays in a lifetime.

it is interesting that the thread has changed to "morality of paying or not paying taxes" from "no longer a cheap retirement destination" and even the tax topic changed from "paying taxes in Thailand" to "paying taxes in your home country".

[Naam]

US also require you to pay tax no matter where you are in the world, but...if retired and your only income is investments, that tax can be 15% AND the first 75k is not taxed at all.

Despite Nam's issues of not paying taxes to his country that afforded him the oppty to make those funds...

The US allows many very, very legal trusts to operate. These are not without costs such as giving away the assets often times. But LivinLOS is correct, very legal, SOP for many wealthy persons.

that is BS²! as the "Foreign Earned Income Exclusion" applies only to those who work and live abroad; the emphasis is on the word "earned"! the amount is presently USD 91,500 and my american friends who retired in Thailand would be happy to collect that much of their investment income tax free.

if you have no idea i suggest you inform yourself before spreading wrong information.

[Naam]

Well this may come as a bit of a shock then Mr Know it all. Those who have served in the UK armed forces and are in receipt of a Goverment service pension will pay income tax at source back in the UK, regardless of where you live or retire in the world.

we were of course discussing and referring to THAI income tax. it is well known that some unfortunate citizens have to pay income tax no matter where they live. but the fact remains that most retirees live in Thailand tax free. no need to accuse them of drinking too much beer or booze because you are angry and envy their status.

[Lancelot]

that is BS²! as the "Foreign Earned Income Exclusion" applies only to those who work and live abroad; the emphasis is on the word "earned"! the amount is presently USD 91,500 and my american friends who retired in Thailand would be happy to collect that much of their investment income tax free.

Naam is correct. The US Foreign Income Exclusion only applies when one works abroad for specific amunts of time. US retirees world wide are introduced to the joys of US Income Tax on their interest, dividends, etc.

[Naam]

Naam is correct. The US Foreign Income Exclusion only applies when one works abroad for specific amunts of time. US retirees world wide are introduced to the joys of US Income Tax on their interest, dividends, etc.

there was a time when U.S. citizens could [illegally] use the Foreign Income Exclusion without resorting to derive income from trusts (as described by LivinLos) which is as illegal! but the activities of The Right Honourable Osama bin-Laden, Esq., various other terrorists, drug dealers cum money launderers, etc. made that nearly impossible nowadays although there are still ways. because it might be against forum rules i refrain from describing the method.

edited for adjusting a sentence.

Edited August 31, 2010 by Naam

[cloudhopper]

Here's an article that could be of interest to expats earning/saving/investing/changing/spending in their various currencies-

http://www.zerohedge.com/article/4-trillion-day-and-50x-leverage-fx-trading-volume-and-risk-dwarfs-equities-and-treasuries

[flying]

but the activities of The Right Honourable Osama bin-Laden, Esq., various other terrorists, drug dealers cum money launderers, etc. made that nearly impossible nowadays

Its ok your among friends..... you can just tell the truth...they used Bin Laden as an excuse to fleece us even more than usual

Edited September 1, 2010 by flying