Want to open Thai bank account as American

[zierf1]

Is this possible? Will I have problems? Also, I have creditors(student loans, debt collectors) after me in the US and I'm afraid they might try to do something(like seize the money!). Would it be safe to park my money in the Thai bank account? Because I need to show 400k in there for the Thai marriage visa. Otherwise I am just too paranoid and I just carry around stuff like cash and travelers cheques to avoid these creditor guys.

[chiang mai]

Pay your debts then you wont have problems!

[daveAustin]

I'd be worried if I were American trying to hide money as they have antlers everywhere, don't they?

The 400k is to extend your visa based on marriage... you don't need to show money (AFAIK) to get the actual visa. But if you are going the extension route, be aware you need to have the 400k (or 40k month) in a Thai bank for three months prior to extending at immigration, which is done to negate what you suggest and would also hamper any future extensions. The alternative is to simply get a multi-entry O visa a from outside Thailand.

Edited October 9, 2014 by daveAustin

[theoldgit]

Nonsense post and response removed.

[givenall]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Pay your debts then you wont have problems!

They gave you education I guess was not enough!!!!! Just pay your debt

[ToddinChonburi]

Another criminal coming to Thailand

[NCC1701A]

do you have any sort of court ordered judgement against you?

have you been ordered to appear in court and did not show up?

other stuff:

FATCA also requires US citizens who have foreign financial assets in excess of $50,000 (higher for bona fide residents overseas – $200,000 for single filers and $400,000 for joint filers – see the IRS website for more details) to report those assets every year on a new Form 8938 to be filed with the 1040 tax return. Instructions for form 8938 were published in December 2011 and can be found on the IRS website.

https://americansabroad.org/issues/fatca/

http://online.wsj.com/news/articles/SB10001424052702303825604579515371064867150

good luck...

[chiang mai]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Pay your debts then you wont have problems!

They gave you education I guess was not enough!!!!! Just pay your debt

[NCC1701A]

the question is will a Thai bank cooperate with a US court order to attach your Thai bank or Thai assets? Does anyone on this web site know the answer to that question?

[Pib]

I'm guessing but I expect the U.S would need to get a Thai court or a Thai govt agency to issue a freeze on the account. I can see that occurring for money laundering but not for running away from debts in the U.S. unless they were really BIG debts...like millions of dollars. The answers given at this webpage regarding defaulting on a student loan by moving to another country sound reasonable.

But opening a bank account in Thailand now for Americans requires the completion of some FATCA related questionnaires/forms so Thai banks can report certain financial data to the IRS. Forms are easy enough...I opened a new account at Krungsri about a month ago...they had two FATCA info forms for me to complete.

It's up to the Thai bank whether they report accounts only above the FATCA $50K trigger level or also report amounts below the trigger level. It would be easy for them just to do a retrieval on on U.S. citizen accounts regardless of amounts and just report that way...or they may decide to just report accounts above the $50K "got-to" trigger level.

[happynthailand]

if you owe on a studend loan and skip out with out paying,

when you start getting ss they will take a % of your SS each month

they will get their money

[Pib]

if you owe on a studend loan and skip out with out paying,

when you start getting ss they will take a % of your SS each month

they will get their money

Yeap, the govt can wait until you get old and start drawing SS to start getting the loan paid back. This Bankrate.com article gives a good overview.

[thrilled]

I had been hearing that Ya have to report any amount over $10,000. I hadn't heard $50,000 or more.

And with the IRS,with their latest law.They can probably talk thai banks into freezing your accounts.Talk to A lawyer,not general

People.

[johnh869]

I'm guessing but I expect the U.S would need to get a Thai court or a Thai govt agency to issue a freeze on the account. I can see that occurring for money laundering but not for running away from debts in the U.S. unless they were really BIG debts...like millions of dollars. The answers given at this webpage regarding defaulting on a student loan by moving to another country sound reasonable.

But opening a bank account in Thailand now for Americans requires the completion of some FATCA related questionnaires/forms so Thai banks can report certain financial data to the IRS. Forms are easy enough...I opened a new account at Krungsri about a month ago...they had two FATCA info forms for me to complete.

It's up to the Thai bank whether they report accounts only above the FATCA $50K trigger level or also report amounts below the trigger level. It would be easy for them just to do a retrieval on on U.S. citizen accounts regardless of amounts and just report that way...or they may decide to just report accounts above the $50K "got-to" trigger level.

You have to fill out a W9 form when you open the account. Just did one in July of this year for Bangkok Bank. The lady teller said this policy became effective in July 2014.

[curtklay]

I had been hearing that Ya have to report any amount over $10,000. I hadn't heard $50,000 or more.

And with the IRS,with their latest law.They can probably talk thai banks into freezing your accounts.Talk to A lawyer,not general

People.

FBAR is $10,000

FATCA is $50,000

[dinger]

Man up, pay your debts and you will most likely get better responses here

[Jungle Jim]

I mentioned about foreign criminals hiding in Thailand on another post and everybody went nuts. Proves my point. Makes me wonder how many are hiding here likely in the thousands. But i agree pay your debts before starting a Thai bank account otherwise your just another dodgy foreigner.