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Digital Nomads, Biz owners in Bangkok

#202
jafo said:
(1) Yes, but is a German passport through Jus Sanguinis enough, even though the country of birth is different, and now independent, has its own citizenship and levies ZERO income taxes?

(2) Think of St. Kitts & Nevis. A child born on St. Kitts & Nevis by a British parent living on St. Kitts & Nevis. The child has British citizenship but has never lived in Britain or gone there. This person obviously has NO UTR #.

Where is the CRS communicated?

If to St. Kitts & Nevis, why? Who cares there? They levy NO taxes anyway. What's the point?
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Crs is simple.
It goes by the residency you give to the bank. So you know exactly where it goes. To where you tell them youre a resident with tax id and the whole blabla.

That being said, if and only if the financial institution is overly good boy like and want to creep the regulator deep into the little * where the sun isnt shining:
A They report to your passport country
B They report according to indicia: which is, phone number provided, standing instructions, powers and cash withdrawals, spent, ip logs etc.

A. should not matter much.
B. is sophisticated and requires their inhouse analytics to do it.
 
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#205
zzzzzz said:
@Skenners does Bangkok Bank show your Thailand residential address in an online/paper bank statement? Are bank statements in Thai (Thai script) or English (Latin alphabet)?
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I don't get statements, printed or emailed, but I don't think it does. I'm not sure. Most of the correspondence has been hybrid Thai and English.

I got online login to their Bualuang iBanking system but cant find where to draw up a statement.
this is all I pretty much see:

 
#206
Skenners said:
I don't get statements, printed or emailed, but I don't think it does. I'm not sure. Most of the correspondence has been hybrid Thai and English.

I got online login to their Bualuang iBanking system but cant find where to draw up a statement.
this is all I pretty much see:

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I found this, but it's for mobile version (Bualuang mBanking).

"Request Account Statement
The requested statement will provide your transaction history up to 12 months and be sent to your email registered with Bangkok Bank Mobile Banking within one hour."
https://www.bangkokbank.com/en/Pers...Bualuang-mBanking/How-to-Use/StatementRequest
 
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#207
zzzzzz said:
@Skenners does Bangkok Bank show your Thailand residential address in an online/paper bank statement? Are bank statements in Thai (Thai script) or English (Latin alphabet)?
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Even the residential address indicates Thailand it could be still different with the permanent residential address the bank has on record for CRS purposes.

I recall that the bank asked Skenners to provide a permanent address in his country of citizenship, this is normally the address used for CRS.

Unfortunately it is not clear if that will be the case or not. Before I had discussions with banks why I should give a permanent residential address in the country of citizenship if I didn't live there for ages and I had a residence permit (temporary) in another country. They still required me to fill in an address in the country of citizenship.

From my experience it depends on how strict banks are and what they accept as your residential address. Sometimes a utility bill can be enough, sometimes you need to show you are a citizen there or have a permanent residence.
 
#208
Mike Forman said:
I recall that the bank asked Skenners to provide a permanent address in his country of citizenship, this is normally the address used for CRS.

Unfortunately it is not clear if that will be the case or not. Before I had discussions with banks why I should give a permanent residential address in the country of citizenship if I didn't live there for ages and I had a residence permit (temporary) in another country. They still required me to fill in an address in the country of citizenship.
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Holy moly!
  1. This is odd and I think this is ignorance on the part of the employee at the bank because what would happen if we were born in Yugoslavia in 1970??? How are we going to give them an address of a country that NO longer exists? :rolleyes:
  2. My own parents moved OUT of Europe BEFORE I was born, so I was born on a European "colonial" island. That island has now gained its independence since the 90s. The European passports are all obtained through Jus Sanguinis. How am I going to provide an address in a country of citizenship my parents emigrated from BEFORE I was even born? :rolleyes:
I swear, Johnny is right. Bank employees are monkeys and very dumb ones too. rof/%
 
#209
Mike Forman said:
Even the residential address indicates Thailand it could be still different with the permanent residential address the bank has on record for CRS purposes.

I recall that the bank asked Skenners to provide a permanent address in his country of citizenship, this is normally the address used for CRS.

Unfortunately it is not clear if that will be the case or not. Before I had discussions with banks why I should give a permanent residential address in the country of citizenship if I didn't live there for ages and I had a residence permit (temporary) in another country. They still required me to fill in an address in the country of citizenship.

From my experience it depends on how strict banks are and what they accept as your residential address. Sometimes a utility bill can be enough, sometimes you need to show you are a citizen there or have a permanent residence.
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I don't think Bangkok Bank and Kasikorn Bank are ready for CRS. You won't find anything about it on their websites, they don't give you self-certification form, no tax id, no tax residency/residencies info requested. Permanent address abroad might be just identity theft precaution or in case they want to contact you or AML regulation.
 
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#210
zzzzzz said:
I don't think Bangkok Bank and Kasikorn Bank are ready for CRS. You won't find anything about it on their websites, they don't give you self-certification form, no tax id, no tax residency/residencies info requested. Permanent address abroad might be just identity theft precaution or in case they want to contact you or AML regulation.
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Some uae banks are asking that one too.
What does one do if you really do not have one. ;)

Its anyway completely irrelevant if one is not secretly living in his country of citizenship, de registered and clandestine.
 
#211
zzzzzz said:
I don't think Bangkok Bank and Kasikorn Bank are ready for CRS. You won't find anything about it on their websites, they don't give you self-certification form, no tax id, no tax residency/residencies info requested. Permanent address abroad might be just identity theft precaution or in case they want to contact you or AML regulation.
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There are many banks/countries like this. Mostly those who joint the OECD Standard without having been "asked" (o.k., that's a bit different with Thailand - they were "asked" to join).
Seems nobody really cares if the less important countries report wrong data.
 
#212
backpacker said:
There are many banks/countries like this. Mostly those who joint the OECD Standard without having been "asked" (o.k., that's a bit different with Thailand - they were "asked" to join).
Seems nobody really cares if the less important countries report wrong data.
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Indeed. For whatever reasons, these countries get bullied around less regarding that.
 
#213
@Skenners in one of Thai Elite newsletters I read that you need mailing address when opening account with Bangkok bank or Kasikorn bank. Usually banks ask for residential address (where you reside) and if you receive mail somewhere else, also mailing address (p.o. box, office...). How is with that and do they send anything or is everything digital now?
 
#214
zzzzzz said:
@Skenners in one of Thai Elite newsletters I read that you need mailing address when opening account with Bangkok bank or Kasikorn bank. Usually banks ask for residential address (where you reside) and if you receive mail somewhere else, also mailing address (p.o. box, office...). How is with that and do they send anything or is everything digital now?
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I arranged it with the Thai privilege concierge. I showed them my expired 6 month lease (still at same place though) and a tm34 (provided by my building lobby) along with 2 letters from Thailand priv that they email you and also passport with visa. They book you in on a day and you just walk in and open a new account.

As long as you have a lease or house contract and the tm34, you should be fine. Its all paperwork though, nothing digital

this was bangkok bank

-Skenners
 
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#215
zzzzzz said:
@Skenners in one of Thai Elite newsletters I read that you need mailing address when opening account with Bangkok bank or Kasikorn bank. Usually banks ask for residential address (where you reside) and if you receive mail somewhere else, also mailing address (p.o. box, office...). How is with that and do they send anything or is everything digital now?
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I used my main residence address..

backpacker said:
There are many banks/countries like this. Mostly those who joint the OECD Standard without having been "asked" (o.k., that's a bit different with Thailand - they were "asked" to join).
Seems nobody really cares if the less important countries report wrong data.
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Governments overseas are really intrigued just how much wealth is flowing East to Thailand from the West... especially when they need to find something to raid for their currency debasement debt binge... reportedly some nations are now having the ability to tax dependents of mixed race on the untimely demise of the chap living overseas... (read online this morning a European - no country given - now expected to pay inheritance tax when he drops dead - or rather his mixed Thai-European kids which have all resided in Asia all their life) - in Thailand tax is generally nothing or 5-10%

Though with the new Government debt spending and following the US (alignment) i suspect Thailand won't be that fantastic retreat for 15 yrs before its demographics collapse, and now thinking maybe 2-5yrs, before they begin raiding everything they can.

As for banking, Yellow bank asked for my address in the UK a year or so ago, hadn't visited the UK in a very long time mind, and E.V and Resident in Thailand (they were aware) it appears they are opting for the easy approach (and worrying for some i'd imagine) of just sharing absolutely everything with the UK, EU, AUS, US etc
 
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#216
wellington said:
As for banking, Yellow bank asked for my address in the UK a year or so ago, hadn't visited the UK in a very long time mind, and E.V and Resident in Thailand (they were aware) it appears they are opting for the easy approach (and worrying for some i'd imagine) of just sharing absolutely everything with the UK, EU, AUS, US etc
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As for CRS, they still don't have infrastructure in place so I'm not sure how they can share anything. What is your connection to the UK - citizenship, permanent residence status, country of birth? You can always say, address doesn't exist anymore, building was demolished 20 years ago...
 
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#217
zzzzzz said:
@Skenners in one of Thai Elite newsletters I read that you need mailing address when opening account with Bangkok bank or Kasikorn bank. Usually banks ask for residential address (where you reside) and if you receive mail somewhere else, also mailing address (p.o. box, office...). How is with that and do they send anything or is everything digital now?
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I have an account with Kasikorn for 10+ years. Don't remember what they wanted when I opened it, but here is an anecdote:
A couple years ago I wanted to change the address and came by to a branch near me with some kind of paper proof. They refused to change my profile and said that I have to go to the branch where the account was open. I objected saying that it was another city... and the manager then suggested calling the call centre! I dialed the number and changed my address by phone without any verification whatsoever. They are not really strict.
 
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#218
Meta said:
I have an account with Kasikorn for 10+ years. Don't remember what they wanted when I opened it, but here is an anecdote:
A couple years ago I wanted to change the address and came by to a branch near me with some kind of paper proof. They refused to change my profile and said that I have to go to the branch where the account was open. I objected saying that it was another city... and the manager then suggested calling the call centre! I dialed the number and changed my address by phone without any verification whatsoever. They are not really strict.
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Do they send any mail to your address, or is all communication now electronic (email, online banking, mobile app, telephone)? I was thinking of giving them residential address (tm30) and mailing address (p.o.box).
 
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#220
Skenners said:
I arranged it with the Thai privilege concierge. I showed them my expired 6 month lease (still at same place though) and a tm34 (provided by my building lobby) along with 2 letters from Thailand priv that they email you and also passport with visa. They book you in on a day and you just walk in and open a new account.

As long as you have a lease or house contract and the tm34, you should be fine. Its all paperwork though, nothing digital

this was bangkok bank

-Skenners
Click to expand...
How did you get your lease? Is there a website or app where you can lease condo online like booking.com is for hotels?
 
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