Just a point of note
There's been a lot of discussion (here i think) and elsewhere about utilising ATM withdrawals.
There is an issue with this idea, and I'll explain what it is.
Set aside that cards can be linked to you via CRS or via KYC information with the card provider, this i am not referring to and is well known going back quite a few years.
I am referring to cards without a Identity assigned to them, lets say dark cards.
In Thailand all ATM's capture your face when withdrawing, this information is stored/archived in their backend system, this information can be automated into under a 30 seconds for facial recognition, which can tie against your Immigration capture (yes every-time you pass through a immigration checkpoint they capture you even if you are not aware - i've seen the Thai interpol system access and FBI equivalent system in Thailand first hand).
Second people may laud at the idea of Thailand and Facial recognition, I won't because most of the staff that went on to build out the Thai AI system(s) for intel, counter-intel etc used to work for my company and on leaving or interning and qualifying a lot went to the Government.
The process for tying a ANON Card + Face + Immigration + CRS information = under 1minute flat.
It also doesn't take much to blacklist a card from the system...
So i would think again on that approach if considering.
If you have assets or a place of centre in Thailand this would be highly risky.
If not then potential fines, amol, prison, deportation etc (trust me you don't want to get on the bad-side of the revenue department, or
Anti-Money Laundering department of Thailand).
@wellington thanks for sharing this! I can see
Penang, is it where you are looking at? If you haven't spent there more than 2-3 days I would recommend you to go and check. I found people there extremely slow, not a very active community and despite being an Island, its beaches were terrible, on the Pattaya style. I do not know where you live now, but if you live in Bangkok then for you and your family Penang can be a big change.
Penang i went to about a decade ago.
I think (or Johor) it would be suitable, note we will only be using to get around this idiotic new policy (-180 days Thailand) in a tax event year, the Company move to Labuan and power/control transfer was always on the cards due to polarised world and the policies coming into control the flow of technology.
So as to benefit as a shareholder but ultimately not breach any national or international laws based on the market segregation within the confines of international law (West will restrict AI for control, Global South will embrace it).
I (me) personally live off savings but now savings can be considered taxable ~35% because I used to live in a
Tax haven rather than say the countries where the tax treaties exist.
So roughing it, with the ability to head to Thailand for a weekend etc, as well as
Indonesia/HK/SG is the main reason Malaysia has appeal outside of the structuring of personal or commercial.
Dubai i was in previously and it was soul crushing... + tax commercial too high.
Story is not over and it's far from a done deal.
