9 months of visa exemptions back to back after 2 year overstay

[JackThompson]

1 hour ago, LivinLOS said:

 

The very fact 'they' havent made that kind of visa.. And 'they' enabled BOI companies to do it with a 2k USD a month minimum.. Kind of says the level 'they' have decided they feel is right.. That same level which nomads squawk at when in reality its pennies.. Thailand has said you can come and freelance from here online, this is the price and thats the tax revenue they want.. I am sure that will also get a 'thats absurd'... 

 

And thats the genuine short term traveller.. But go look around the nomad hubs.. A huge percentage are not moving on, they are moving in.. Nomads renting apartments in 6 months chunks, and buying vehicles.. Nomads asking about how to open bank accounts.. They are not nomadic, they are just underpricing western rivals, by breaking the social contract and living in developing countries to 'bootstrap' and undercut those who do it legally. This is the new face of work for the millennium ?? This is the social model of change ??

 

We didn't "break the social contract" - our nations / corporations threw us under the bus.  The "under-pricing western rivals" is a problem to do with Western countries taking down tariff barriers and rewarding offshoring - something I oppose, btw, as it has begun a race to the lowest standard of living (perhaps we agree on this point). 

 

Companies in India can under-price countries in the West, because they can pay their staff 10% (or less, when you consider the extras) of Western levels, and export their services into the West.  Similar with China and manufacturing (at 5% of Western labor-costs and zero environmental costs).  The current "social model of change" is based on a fundamental change in the rules of the game - rules we do not control.  The option to, "Put in 25 years at 'the plant' and retire with a nice pension," is no longer available (in the USA, at least).  What they could not outsource, they brought in cheap labor foreigners to do.  "They" threw us under the bus - we did not do this to ourselves.

 

Until Western governments end this madness of civilization-suicide, why should a "Western-born" entrepreneur, who does not have your level of investment capital (because our generations were thrown under the 'globalization' bus, eliminating our ability to amass significant-capital), yet is forced to deal with 'globalist' market-rules, not move somewhere that they can have a shot at success before our meager startup-funds dry up? 

 

I'm not suggesting using Thailand for this if one is involved in day-to-day operations, given the arcane visa/work rules here (which have been discussed to death).  Cambodia and most every other developing nation on Earth welcomes them, so those would be better choices.  But regarding the only available option for someone to this in Thailand, the "$2K USD a month minimum" is not the law in Thailand for a work-permit - more like ~$1400 (teachers exempted) or less (depending on country of origin).  The full chart is below.  This hurdle is not hard to overcome.

 

The taxes are also not a problem.  The 33% of Net to the BOI is the problem.  Let's review what the actual taxes cost - which many would be happy to pay (instead of to the USA, in my case):

 

Quote

Those who earn less than 150,000 Thai Baht are exempt from income tax.

Anything over this amount and less than THB 500,000 is taxed at 10%.

Between this amount and 1 million THB the tax rate is 20%.

Over this amount and below 4 million THB is taxed at 30%.

Anything above this amount is taxed at 37%.

 

600K Gross personal income (at 50K/mo) - 150K (personal deduction) = 450K @ 10% = 45K baht/yr, with the remaining income remaining invested in the business investment-portfolio.  Actually, significantly less tax, because that figure does not include the available deductions. 

 

The tax is on Gross Personal Income - not Net Receipts on the Business.  This is why the offer of "33% of Net" is absurd - not because someone would have to "pay taxes" on their personal-incomes.  Business-taxes would not apply, because the business-operations are offshore - so it's just personal-income at play.

 

The best scheme I can find for an overseas-business owner (who does not work here), is to incorporate offshore, then remit my personal-income from the business directly to Thailand in the year earned, pay taxes here on that, and deduct that sum from the taxes I pay to the USA (for permission to keep my passport - and nothing more, since I don't live there or consume any services).  But why go to the trouble, when Thailand offers ZERO rewards for my efforts (no visa, no ability to pay into the national-health system, etc)?

 

So I live here on previous-years money tax-free.  Their choice - not mine.

 

--------

 

Min-Income for work-permit qualification chart:

 

Countries	Minimum Income Declared  in Thai Baht
Europe and Australia, Canada, Japan, the United States of America (except Russia)	50,000 per month
South Korea, Singapore, Taiwan, and Hong Kong	45,000 per month
Asian Countries  (except Japan, South Korea, Singapore, Taiwan, Hong Kong, Cambodia, Myanmar, Laos, and Vietnam)South America,Eastern Europe,Central America,   Mexico, Russia, South Africa	35,000 per month
All African Countries (except South Africa), Cambodia, Myanmar, Laos, and Vietnam	25,000 per month

 

[JackThompson]

On 12/26/2016 at 0:01 PM, billd766 said:

AFAIK only the US taxes its citizens on any income worldwide and if the tax on Thai earnings is paid in Thailand then you may be able to offset that against you US taxes. However as I am not a US citizen I am not too sure of that bit. So you need to talk to a US citizen who pays Thai and US taxes to get the truth.

 

Yes, that is the case for US-citizens.  I think the Chinese and North Koreans are the only others left (the Philippines stopped, after many of their successful expats renounced).  The US-solution is to make it very difficult to renounce your citizenship, totalitarian-style.  There is no "wall," so you can get out, but they still have their hooks in you, forever.  

 

The best you can do is find somewhere you would rather pay taxes and use that as an offset.  "Hello, Thailand, are you listening?"  It's a "win-win" if they would.

[LivinLOS]

6 hours ago, JackThompson said:

 

We didn't "break the social contract" - our nations / corporations threw us under the bus.  The "under-pricing western rivals" is a problem to do with Western countries taking down tariff barriers and rewarding offshoring - something I oppose, btw, as it has begun a race to the lowest standard of living (perhaps we agree on this point). 

 

Companies in India can under-price countries in the West, because they can pay their staff 10% (or less, when you consider the extras) of Western levels, and export their services into the West.  Similar with China and manufacturing (at 5% of Western labor-costs and zero environmental costs).  The current "social model of change" is based on a fundamental change in the rules of the game - rules we do not control. 

 

Standard Millennial whine.. and absolutely not true.. 

 

There no opportunity in the west ?? I went there this summer... started trade in sept making 8 - 10k GBP income above expenditure a month by Mid Nov.. I have contracts in hand to be making 30 - 40k a month by easter.. I feel confident I can be pulling half a million gbp personal drawings by the 3rd year... Whil employing 100s of people.. No opportunity ?? 

 

Why is it every developing worlder wants to go there ?? 

 

Its just yet more 'poor me' 'its all so hard' 'taxes are too high'.. So vote for less distribution economics.. Instead the millenial vote is for socialism in handouts, but run to the developing world and break the tax laws for pay ins.. Making money in the west is so easy. 

[LivinLOS]

6 hours ago, JackThompson said:

Until Western governments end this madness of civilization-suicide, why should a "Western-born" entrepreneur, who does not have your level of investment capital

 

Child of hippy pikeys.. Who grey up in caravans, on tinker sites, and missed years of school while my folks drove to north africa and back smuggling hash in the 70s.. I used to put tesco bags over my feet to walk across the muddy site in winter to not get teased at school. 

 

Make your own capital.. The biz I just started I put only a few 1000s in printing and phones lines.. the 60k cost was me relocating to the west to be in compliance with Thai tax law. 

[LivinLOS]

6 hours ago, JackThompson said:

Cambodia and most every other developing nation on Earth welcomes them, so those would be better choices. 

 

Again no research.. while a B visa is trivial a legal work permit needs to be based on a Cambodian company.. Just like Thailand.. Just like Malaysia.. Just like the PI.. Just like Myanmar.. 

 

This assumption that nomads need to be greeted with open arms.. While not employing locals, paying minimum taxes, and avoiding western ones.. Is only in nomads minds. 

[LivinLOS]

6 hours ago, JackThompson said:

The best scheme I can find for an overseas-business owner (who does not work here), is to incorporate offshore, then remit my personal-income from the business directly to Thailand in the year earned, pay taxes here on that, and deduct that sum from the taxes I pay to the USA (for permission to keep my passport - and nothing more, since I don't live there or consume any services).  But why go to the trouble, when Thailand offers ZERO rewards for my efforts (no visa, no ability to pay into the national-health system, etc)?

 

So I live here on previous-years money tax-free.  Their choice - not mine.

 

Except its you know.. against the law.. Their choice.. Not yours.. 

[ubonjoe]

8 hours ago, JackThompson said:

Min-Income for work-permit qualification chart:

That is the requirement to apply for an extension of stay based upon working for a company. There is no minimum income requirement to apply for a work permit.

 

Notice :Topic is now closed since it has gone off topic and has turned into a back and forth discussion between 2 members.

Topic