rainman Posted November 3, 2006 Posted November 3, 2006 thanks a lot for that very detailed information. i'm actually the co-owner (50%) as well as VP of an overseas company. the funds are sent by me from an account of the company, whatever i need in thailand to live. so its best to say i'm living from the savings and earnings of my own company.
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 Thanks to all for your reply. This is my conclusion: - 5 million baht is not much money. It will not allow me to retire in Thailand. My backup scenerio is my wife. She's from a pretty rich family and we'll never be poor (as long we stay married). It's not necessary for us to transfer the 5 million baht to Thailand and I will not transfer more money than strictly necessary for living during the first year. - My wife already has a nice house on her name in Thailand (gift from her parents). We'll not need to pay any rent. - I will not ask for paying more taxes in the shop because this is a path of no return. The shop has officially a low income and it would be stupid to pay more taxes than necessary. We're not going to ask government to be allowed to pay more taxes. - An insurance that covers medical expenses like the health insurance in my home country is extremely expensive (or even not excisting) in Thailand. I will keep a residence in europe where I can move back to in case of serious medical problems (cancer, heart problems). My wife has dual nationality. - During my first year in Thailand I will try to find a job to meet the 40K requirement. I have applied for a job in Thailand before (I've lived 1 year in Thailand) and I was ever offered a full time contract there (being a teacher at an engineering school). I know it's not impossible for me to find a job there. I know it's hard to find a job outside bangkok. - I will not declare the income of my apartment in Europe in Thailand as long as I don't have a job in Thailand. It's not useful to pay taxes and get nothing in return (and I also believe Thai laws are too unstable to really rely on them). - I will apply for a multiple-entry non-immigrant-O visa in my home country which allows me to stay about 15 months (with short visa runs every 3 months). - After the first year I'll decide again. At that moment I will not have moved much money to Thailand and all options are still open: * Maybe (and probably) I'll already have found a job there and there will be no problem. * Maybe I'll have decided to go to work in BKK anyway. * Maybe I'll be bored of Thailand and I'll return. * Maybe I'll find another source of income to prove the 40K (like build a condo or buying shares in an excisting condo). * Maybe I can move part of the income of my wifes parents to my wifes name (only on paper, while in reality they keep their income). * Maybe I'll just travel once a year to Europe to see my parents and apply every time again for a multiple entry non-immigrant-O visa (this is still cheaper than paying taxes in Thailand). * Maybe I'll just travel to Penang every 6 months and apply there for a single entry non-immigrant-O visa, followed by 3 months visa runs on tourist visas. * Maybe the law will be changed by then (probably it will get only get worse)
JR Texas Posted November 3, 2006 Posted November 3, 2006 One can't but pity small-minded guys like you - it can't be fun to be stuck with a mind working like that ... There you are: a 34 year old guy with reasonable savings and a reasonable income. As should be evident from other replies, in this thread, you have the means to relocate to the country of your dreams (I presume)- the one and only drawback is that you have to pay a small - and very affordable - amount of <a href="http://www.thaivisa.com/forum/?page=tax">tax</a> to the <a href="http://www.thaivisa.com/forum/archive/hosting">hosting</a> country. Do you jump of joy? -- No. You focus on the tremendeous problem that people, truly deserving retirement - some of which might have paid maybe 100,000 times as much <a href="http://www.thaivisa.com/forum/?page=tax">tax</a> in their lifetime than you'll ever get around to - actually can retire here without work-income. You focus on the tremendeous problem that natives, that never have had the chances you have had (and probably wasted), have that small piece of <a href="http://www.thaivisa.com/forum/?=luck">luck</a>, that the pay less <a href="http://www.thaivisa.com/forum/?page=tax">tax</a> than you. //edit to remove flame - lopburi3// The perspective of every person is different. You're clearly not in my situation. I've no problem with the people that retire in Thailand. But I think married people should have at least the same rights as these people. Can you imagine how it would feel like to be seperated from your partner if for some reason your income would drop below 40K? Can you image how it feels like paying <a href="http://www.thaivisa.com/forum/?page=taxes">taxes</a> on an income that you might not have, just to stay with the person you love? JR Texas (51, USA): Please correct me if I am wrong (new guy here). Is it true that a foreign male can now remain in Thailand indefinitely without having to show any monthly income or put any moneY in a Thai bank if he is married to a Thai woman and has a Thai child from that marriage(below the age of 18)? If so, that would be the only positive change to the visa rules that I am aware of. If this is true, one option would be to have a child during your stay in Thailand. Best wishes, JR
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 JR Texas (51, USA): Please correct me if I am wrong (new guy here). Is it true that a foreign male can now remain in Thailand indefinitely without having to show any monthly income or put any moneY in a Thai bank if he is married to a Thai woman and has a Thai child from that marriage(below the age of 18)? If so, that would be the only positive change to the visa rules that I am aware of. If this is true, one option would be to have a child during your stay in Thailand. Best wishes, JR We're already trying 3 years to get a child (not to get a visa, but because we want to have a child). We've now in the process of trying IVF(ICSI). There seem to be small medical problems on both sides. Not being able to have children is a very big handicap on your future in Thailand. I am thinking about adoption but my wife is a bit reluctant on that. Her brother is an adoption child and he has his own character (which is very different from my wifes character). Neverteless I love my wife very much and after 6 years of marriage I feel more sure about her than ever before, so I respect her opinion about adoption.
manjara Posted November 3, 2006 Posted November 3, 2006 One can't but pity small-minded guys like you - it can't be fun to be stuck with a mind working like that ... There you are: a 34 year old guy with reasonable savings and a reasonable income. As should be evident from other replies, in this thread, you have the means to relocate to the country of your dreams (I presume)- the one and only drawback is that you have to pay a small - and very affordable - amount of <a href="http://www.thaivisa.com/forum/?page=tax">tax</a> to the <a href="http://www.thaivisa.com/forum/archive/hosting">hosting</a> country. Do you jump of joy? -- No. You focus on the tremendeous problem that people, truly deserving retirement - some of which might have paid maybe 100,000 times as much <a href="http://www.thaivisa.com/forum/?page=tax">tax</a> in their lifetime than you'll ever get around to - actually can retire here without work-income. You focus on the tremendeous problem that natives, that never have had the chances you have had (and probably wasted), have that small piece of <a href="http://www.thaivisa.com/forum/?=luck">luck</a>, that the pay less <a href="http://www.thaivisa.com/forum/?page=tax">tax</a> than you. //edit to remove flame - lopburi3// The perspective of every person is different. You're clearly not in my situation. I've no problem with the people that retire in Thailand. But I think married people should have at least the same rights as these people. Can you imagine how it would feel like to be seperated from your partner if for some reason your income would drop below 40K? Can you image how it feels like paying <a href="http://www.thaivisa.com/forum/?page=taxes">taxes</a> on an income that you might not have, just to stay with the person you love? JR Texas (51, USA): Please correct me if I am wrong (new guy here). Is it true that a foreign male can now remain in Thailand indefinitely without having to show any monthly income or put any moneY in a Thai bank if he is married to a Thai woman and has a Thai child from that marriage(below the age of 18)? If so, that would be the only positive change to the visa rules that I am aware of. If this is true, one option would be to have a child during your stay in Thailand. Best wishes, JR It would be news to me JR, I have 2 kids with a Thai wife and live in Thailand. Everything we have is more or less in her name and I still have to show a salary far above the Thai average just to be able to stay with my family in Thailand. I don't think it should be easy to have a sham marriage as a means to stay in the country (any country), but after 5-6 years of marriage, you would think that just being able to show a normal life in Thailand would/should be sufficient to get permission to stay. I also have to report to the Immigration Police every 90 days (which I duly did this morning), and I got hassled for losing a small receipt that I got the last time I went to report. If anything, it is becoming more difficult to stay as a married person, even with offspring!
Maestro Posted November 3, 2006 Posted November 3, 2006 Is it true that a foreign male can now remain in Thailand indefinitely without having to show any monthly income or put any moneY in a Thai bank if he is married to a Thai woman and has a Thai child from that marriage(below the age of 18)?It would be news to me It is true, and it is indeed news, Manjara, in effect only since 1 October 2006. In another thread confirmed by Sunbelt, who knows more about immigration rules than all other members on this forum combined. Incidentally, the Thai child can be of any age, no limit specified. And marriage to a Thai woman is not part of the requirements. The only condition is that the applicant for extension of stay (foreign father or mother of the Thai child) must be at least 50 years old. --------------- Maestro
JR Texas Posted November 3, 2006 Posted November 3, 2006 Is it true that a foreign male can now remain in Thailand indefinitely without having to show any monthly income or put any moneY in a Thai bank if he is married to a Thai woman and has a Thai child from that marriage(below the age of 18)?It would be news to me It is true, and it is indeed news, Manjara, in effect only since 1 October 2006. In another thread confirmed by Sunbelt, who knows more about immigration rules than all other members on this forum combined. Incidentally, the Thai child can be of any age, no limit specified. And marriage to a Thai woman is not part of the requirements. The only condition is that the applicant for extension of stay (foreign father or mother of the Thai child) must be at least 50 years old. --------------- Maestro JR Texas (51, USA): Thank you for clarifying that Maestro. Is is good news for many. But not for the person in question here. I have been in Thailand for 20 years, off and on. I have been with the same woman for the past six years and have been supporting her and her family. It would not, however, be prudent for the woman I am with to have a child (for medical reasons). BUT, and here is my question: If we adopt a Thai child, will this new rule apply? Put differently, if I adopt a Thai child--51, American--can I stay in Thailand indefinitely, or until the next wave of rule changes? Thanks. Best wishes, JR
Maestro Posted November 3, 2006 Posted November 3, 2006 i guess monday morning i will take a trip to the immigration to get the exact documents they need for my next extension That’s the spirit, Rainman. The first rule when dealing with any government office, in any country, is to know what documents they need and then to give them only what they need. Anything else or anything more may only confuse them. Contrary to what your other posts on this subject indicate you seem to think, you do not have to prove remittance of 40K per month to your account in Thailand, your embassy does not have to certify your employment. From the Police Order No. 606/2006, paragraph 7.17, effective from 1 October 2006: Criteria (6) In case of the applicant who is married to a Thai wife, one of them or both of them need to have the total annual income that is averaged out not less than 40,000 Baht per month. Except for the case that the said foreign national has entered Thailand before this Order is enforced and the foreign national has been permitted to stay in the Kingdom by the result of having married to a Thai wife, then if the applicant does not have the said income, then, the latest 3 months records of the account book of any Bank in Thailand with the account name of either or both parties need to have the amount of money not less than 400,000 Baht. List of Documents 5. According to the Criterion No. 6, the applicant is required to attach the certificate of having the savings in the bank account of any Bank in Thailand and copy of the bank account, or evidences of personal income of either party or both that shows the total income of both parties not less than 40,000 Baht per month, such as the evidence of the personal income tax filing and the receipt, evidence of being a pensioner, credentials of receiving the interest of the saving money, or the evidences of having other income from other related organizations. When Lopburi says that the embassy does not have to guarantee anything but your word, this applies to the US embassy. Others, e.g. the British embassy, have been reported to want to see supporting documents. 1. What documents does immigration need? Only the letter from the embassy. Nothing else. No documents to support what the embassy letter confirms. No proof of monthly remittances of minimum 40K to Thailand. 2. What does your embassy need? Remember that you are not asking them to confirm your employment, but your income. Not your future income, but your current income. If it is not the US embassy you’re dealing with and they ask for a supporting document, in the circumstances you have described I guess a letter from your employer stating that you are being paid a monthly salary of such-and-such amount should suffice. Regarding the point Kudroz mentioned, it is true that technically income earned abroad is not subject to income tax in Thailand only if it is not brought into Thailand during the year (floating 12-month period) it is earned. Instead of having your employer remit your salary directly to your Thai account, you may want to consider remittance from your employer to an account in your home country, then you remit only what you need for your living expenses from your foreign account to your Thai account. --------------- Maestro
Maestro Posted November 3, 2006 Posted November 3, 2006 If we adopt a Thai child, will this new rule apply? Put differently, if I adopt a Thai child--51, American--can I stay in Thailand indefinitely, or until the next wave of rule changes? Yes. I have now looked up that other thread I mentioned and that confirmation of Sunbelt. As all this is also new for the immigration officials, it may be a good idea to spell out on your application for extension of stay the capacity in which you are applying, for example “to live with my adopted Thai child, in accordance with Royal Thai Police Order No. 606/2549, paragraph 7.17(5)” --------------- Maestro
lopburi3 Posted November 3, 2006 Posted November 3, 2006 When Lopburi says that the embassy does not have to guarantee anything but your word, this applies to the US embassy. Others, e.g. the British embassy, have been reported to want to see supporting documents. Regardless of looking at supporting document or not what they are doing is certifying your word - they are not going back to employer for confirmation in any case reported on forum that I have seen.
Maestro Posted November 3, 2006 Posted November 3, 2006 Regardless of looking at supporting document or not what [embassy] are doing is certifying your word - they are not going back to employer for confirmation in any case reported on forum that I have seen. Correct. --------------- Maestro
Mentors Posted November 3, 2006 Posted November 3, 2006 (edited) is there really any news to come around 15th November? Edited November 3, 2006 by Mentors
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 What about this scenario? Assumption: -I am married with a Thai wife, -I arrive in Thailand after oktober 1, 2006. -I can not prove the 40 K income. Day 0: I apply for a one year multiple entry visa in my (european) home country. During these 15 months, every 3 months: Visa run Day 0 + 12 months Put 400000 baht on a thai bank account Day 0 + 15 months Leave and come back with 30 days stamp 27 days later Go to the immigration office and ask to change the 30-day entry into a non-immigrant O visa. I provide prove of the 400K of the bank account and show my marriage cerfiticate. 3 months later get a new entry 30-day entry. 27 days later Go to the immigration office and ask to change the 30-day entry into a non-immigrant O visa. I provide prove of the 400K of the bank account and show my marriage cerfiticate. 3 months later get a new entry 30-day entry. 27 days later Go to the immigration office and ask to change the 30-day entry into a non-immigrant O visa. I provide prove of the 400K of the bank account and show my marriage cerfiticate. and so on.... This way I would never have to go back to my home country and I would never have to go to any embassy. Would this work?
Lite Beer Posted November 3, 2006 Posted November 3, 2006 If we adopt a Thai child, will this new rule apply? Put differently, if I adopt a Thai child--51, American--can I stay in Thailand indefinitely, or until the next wave of rule changes? Yes. I have now looked up that other thread I mentioned and that confirmation of Sunbelt. As all this is also new for the immigration officials, it may be a good idea to spell out on your application for extension of stay the capacity in which you are applying, for example “to live with my adopted Thai child, in accordance with Royal Thai Police Order No. 606/2549, paragraph 7.17(5)” --------------- Maestro I, 54 years old. Living with and suporting my Thai wife and her 2 daughters aged 14 and 10. No need for proof of money or income. Yes? Any info on Adoption procedure? Maistro, Lopburi or Sunbelt (probably closed now) Thanks.
Maestro Posted November 3, 2006 Posted November 3, 2006 I, 54 years old. Living with and suporting my Thai wife and her 2 daughters aged 14 and 10. No need for proof of money or income. Yes? In this situation, if you are not already on an extension of stay for support of Thai wife, for a new application you need proof of income – yours, your wife’s, or combined – of average 40K per month. Police Order 606/2549, paragraph 7.17(6) An alternative option available to you is extension based on retirement, with 65K monthly income – yours – or 800K in the bank. Police Order 606/2549, paragraph 7.21 Any info on Adoption procedure? I do not know the adoption procedure. However, once you have an adopted child of Thai nationality and because you are older than 50 years, you qualify for extension of stay without proof of income or money in the bank. Police Order 606/2549, paragraph 7.17(5) --------------- Maestro
coldcrush Posted November 3, 2006 Posted November 3, 2006 With that negative attitude of yours from the outset, I am reluctant to give you advice as you may comment on any suggestion being made that it is “unfair”. There is in fact a very simple way for you and your family to live in Thailand legally, with you on annual extensions of stay. -------------- Maestro Hey calm down Charlie....You are a bit condescending are you not. If you dont want to give advice...just dont.
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 It is true, and it is indeed news, Manjara, in effect only since 1 October 2006. In another thread confirmed by Sunbelt, who knows more about immigration rules than all other members on this forum combined.Incidentally, the Thai child can be of any age, no limit specified. And marriage to a Thai woman is not part of the requirements. The only condition is that the applicant for extension of stay (foreign father or mother of the Thai child) must be at least 50 years old. --------------- Maestro I understand this differently: This is an extract of police regulation 7.17: 7.17 In the case of a family member of a Thai (applicable only to parents, spouse, child, adopted child or child of his/her spouse): Permission will be granted for a period of not more than 1 year at a time. (4) In the case of a child, adopted child or child of his/her spouse, the said person must not be married, must be living with the family, and must be less than 20 years of age; or (5) In the case of a parent, the said person must be 50 years of age or over; or Paragraph 7.17 doesn't say anything about the age of foreign parents taking care of their children. But it does say that your Thai parents have to be at least 50 years old if you, being a foreigner, want to take care of them in thailand. But maybe Sunbelt has other or more information? Or maybe there has just been a misunderstanding.
Cyberstar Posted November 3, 2006 Posted November 3, 2006 7.17 deals with an applicant that is either a child, spouse or parent of a Thai national and all references to persons refer to the applicant. As confirmed several times by Sunbelt un this board: The meaning of 7.17 (5) is to grant Thai nationals - with foreign parents - the same right as other Thai nationals - namely the right to fulfill their obligations to take care of their elderly parents in Thailand.
David H Posted November 3, 2006 Posted November 3, 2006 I am married to a thai, so if i apply for a retirement visa I only need to show 800,000bht in a.. thai bank. That is if I don't declare that I am married? Does that sound like it would work?
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 7.17 deals with an applicant that is either a child, spouse or parent of a Thai national and all references to persons refer to the applicant.As confirmed several times by Sunbelt un this board: The meaning of 7.17 (5) is to grant Thai nationals - with foreign parents - the same right as other Thai nationals - namely the right to fulfill their obligations to take care of their elderly parents in Thailand. Okay after reading it again I also understand it this way: 7.4 refers to a foreign child being younger than 20. 7.5 refers to a foreign parent older than 50 7.6 refers to a foreign husband Thank for helping me understand.
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 (edited) I am married to a thai, so if i apply for a retirement visa I only need to show 800,000bht in a.. thai bank. That is if I don't declare that I am married? Does that sound like it would work? Yes, if you are older than 50 and you have >800K on a Thai Bank account you can get a retirement visa. The fact that you're married to a Thai is irrelevant. Edited November 3, 2006 by kriswillems
gavstah Posted November 3, 2006 Posted November 3, 2006 I believe the new regulations are not very fair.I thought annual extensions of a non-immigrant-O are only possible if you've >40K/month income (for new applicants), and the 400K rule is not valid for new applicants? Just my .02 euro/cents/baht here, but if you get a multi-entry O visa (pretty easy from Europe, is my understanding) you have a year to get your ducks in a row. And having a background in engineering and computer science, then you should have no problem living in Thailand with your wife - who as you point out, also has a technical background. There is a global demand for people with such skills, requiring not much more than a broadband internet connection and a computer - both readily available here in the LOS. If you and your wife cannot make 40k+ baht (currently 856.49 euros) per month combined, then how are you possibly living in Europe? On the dole? Even if your wife lands a 15k baht/mo job locally, a person with a comp sci background should have no problem landing telecommuting work that would keep you in a comfortable lifestyle here, not to mention fulfill any immigration requirements. Again, just my .02 cents/euro/baht, but it seems to be within easy reach for you.
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 I believe the new regulations are not very fair. I thought annual extensions of a non-immigrant-O are only possible if you've >40K/month income (for new applicants), and the 400K rule is not valid for new applicants? Just my .02 euro/cents/baht here, but if you get a multi-entry O visa (pretty easy from Europe, is my understanding) you have a year to get your ducks in a row. And having a background in engineering and computer science, then you should have no problem living in Thailand with your wife - who as you point out, also has a technical background. There is a global demand for people with such skills, requiring not much more than a broadband internet connection and a computer - both readily available here in the LOS. If you and your wife cannot make 40k+ baht (currently 856.49 euros) per month combined, then how are you possibly living in Europe? On the dole? Even if your wife lands a 15k baht/mo job locally, a person with a comp sci background should have no problem landing telecommuting work that would keep you in a comfortable lifestyle here, not to mention fulfill any immigration requirements. Again, just my .02 cents/euro/baht, but it seems to be within easy reach for you. I know I can find a job in Thailand. I wouldn't say it's easy. I've tried before and finding a job in Thailand is hard, but not impossible. The fact that I need a working permit immediately makes a broad range of jobs unavailable for me. I also don't want to work in BKK, which again takes a away 90% of the available jobs. I am highly specialised. I develop hightech telecommunication equipment (broadband modems, satellite communication equipment, digital TV receivers, both hardware and software). In Thailand there's a good as no development, so I'll need to look for work in a different field. I've a job here in Europe which pays about 120.000 baht a month (after taxes), which is reasonably good until very good for countries with high income tax, like my country. I am not on the dole. I am going to quit this job to live in Thailand. My wife has no technical background, but I am sure she's going to make a good income. Before the new immigration rules I had more or less a guarantee that I could stay in Thailand (400K or even 800K on a bank account is peanuts). Now I risk to be kicked after a bad year (with lower income). I hope you understand I feel disappointed. But as you said, I'll start with a multiple entry visa and do my best. We'll see what future brings.
Maestro Posted November 3, 2006 Posted November 3, 2006 You are a bit condescending are you not. Condescending, that’s the right word; I couldn’t have said it better myself. I do not mind that the OP’s wife cheats on taxes, not one little bit. No skin off my back. I respect the OP for taking upon himself the inconvenience caused by his wife’s cheating, i.e. his inability to obtain an annual extension of stay. This is true love. But when he then comes to this forum and complains that the immigration rules are unfair to him, that’s when it gets too much for me. That’s when I become condescending. --------------- Maestro
kudroz Posted November 3, 2006 Posted November 3, 2006 Regarding the point Kudroz mentioned, it is true that technically income earned abroad is not subject to income tax in Thailand only if it is not brought into Thailand during the year (floating 12-month period) it is earned. Instead of having your employer remit your salary directly to your Thai account, you may want to consider remittance from your employer to an account in your home country, then you remit only what you need for your living expenses from your foreign account to your Thai account. Not trying to be off-topic, but I just want to clarify something here - because generally people are not exactly aware of this in the details. If you are being paid a compensation (salary, consultation fee, commission) it is important to determine where the source of the income arised. I.e: - If you are working remotely for an employer, you are performing services in Thailand - thus it is "Thai source income" and regardless where its paid, you are subject to pay taxes in Thailand on your Thai source income. - If you are a freelancer and you are making website for a company outside of Thailand and you are performing these services while being in Thailand, it is "Thai source income" and regardless where its paid, you are subject to pay taxes in Thailand on your Thai source income. The rule of thumb is to determine where the source of the income arised.
Gumballl Posted November 3, 2006 Posted November 3, 2006 kudroz - I was under the impression that if income is derived from overseas, deposited overseas, and it is taxed overseas, that the individual earning the income is not liable to pay Thai taxes. How will the Thai authorities know that I am earning income, if my monies come out of an ATM? kriswillems - You are severely underpaid in your country! I have a similar background, and make 3 times that amount in the US.... and I thought I was underpaid. gavstah - Can you please send me a PM, or just post it someplace, some of your contacts that offer telecommuting positions (that would permit work in Thailand)? I would be very interested. I have a Comp Sci background just like KrisWillems.
kudroz Posted November 3, 2006 Posted November 3, 2006 kudroz -I was under the impression that if income is derived from overseas, deposited overseas, and it is taxed overseas, that the individual earning the income is not liable to pay Thai taxes. How will the Thai authorities know that I am earning income, if my monies come out of an ATM? If it is foreign source income (like you said, derived from overseas) and deposited overseas - it is not subject to Thai taxation. But if it is Thai source income (derived from Thailand) it is subject to Thai taxation. Thai source income means that the location of the activity for which the payment is being made is in Thailand. I.e. You are located in Thailand and performing services for an entity outside of Thailand from which you receive a compensation; it is Thai source income and this income is subject to Thai taxation regardless of where it is remitted.
Khun Jean Posted November 3, 2006 Posted November 3, 2006 You can also see this adjustment of visa rules positive. It will make you think longer before making the step to live in Thailand 100%. It pushes you a little in the direction to leave your money in your savings account because you need an income from something. 5.000.000 baht should give you around 25.000 on interest only. There are enough saving programms that offer 5% or more. The other 15.000 you can get from renting out your appartment/house. BTW, I have experience with that, don't count on a regular income from rental properties. I had to fly back 2 times in the last years to fix problems with tenants. Still fighting to get my money. Brokers are just that, they make you broke. The not paying tax in Thailand is to say it friendly "not nice". You live here and supporting the country would be a good start.
Gumballl Posted November 3, 2006 Posted November 3, 2006 kudroz -I was under the impression that if income is derived from overseas, deposited overseas, and it is taxed overseas, that the individual earning the income is not liable to pay Thai taxes. How will the Thai authorities know that I am earning income, if my monies come out of an ATM? If it is foreign source income (like you said, derived from overseas) and deposited overseas - it is not subject to Thai taxation. But if it is Thai source income (derived from Thailand) it is subject to Thai taxation. Thai source income means that the location of the activity for which the payment is being made is in Thailand. I.e. You are located in Thailand and performing services for an entity outside of Thailand from which you receive a compensation; it is Thai source income and this income is subject to Thai taxation regardless of where it is remitted. What if the money is taxed by the US, which has a tax-treaty (or something like that) with Thailand? If things work out, I was planning to seek a job in the US that would permit me to telecommute (thus permitting me to work from my wife's home in Thailand). I would arrive in Thailand with a multiple-entry Non-Imm-O visa. I would access funds thru the ATM. How is Thailand going to 1) know I am working, and 2) be able to tax me?
kriswillems Posted November 3, 2006 Author Posted November 3, 2006 You can also see this adjustment of visa rules positive.It will make you think longer before making the step to live in Thailand 100%. It pushes you a little in the direction to leave your money in your savings account because you need an income from something. 5.000.000 baht should give you around 25.000 on interest only. There are enough saving programms that offer 5% or more. The other 15.000 you can get from renting out your appartment/house. BTW, I have experience with that, don't count on a regular income from rental properties. I had to fly back 2 times in the last years to fix problems with tenants. Still fighting to get my money. Brokers are just that, they make you broke. The not paying tax in Thailand is to say it friendly "not nice". You live here and supporting the country would be a good start. I have no problems paying taxes when I'll have a job. And I think you're right. Because of the new visa regulations I'll think longer before taking any risk. I'll make sure that I can return at all times and that I'll not bring more money to Thailand than strictly necessary for living (I also don't need bring money to Thailand, because there's no 400K rule anymore).
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