Agreed, although you can invest in property and $500k put in a condo in BKK seems pretty sure to stay yours. Liquidating that could take some time though unless you pick well.
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Thailand new change - world wide income at Thai tax levels to be taxed
- Thread starter wellington
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sure, but condos are a bad investment with an almost guaranteed loss on it, plus handling fuss.
Id personally do stock market but its murky and if they only accept the foreigner registered shares (instead of the nvdrs) theres next to 0 liquidity.
gov bonds is anyhow out of the question.
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Thailand set to become a new hub for the rich and successful? Visa rules have changed
The Thai government has decided to simplify the rules for obtaining long-term visas for foreign citizens.
The new measures are aimed at attracting wealthy people, skilled professionals and digital nomads, which should stimulate their relocation to the country. These changes were approved at a cabinet meeting and include a number of significant concessions.
Minimum annual income requirement has been abolished
One of the key innovations is the abolition of the minimum annual income requirement for specialists wishing to obtain a long-term visa. Previously, applicants had to prove that their income over the past two years was at least 80,000 euros per year. However, as the Board of Investment (BOI) analysis showed, this condition has become a reason for rejecting many potential candidates, although it was not the main factor for issuing a visa.
The annual income threshold for companies has been lowered
The requirements for digital nomads working remotely for foreign companies have also been lowered. Now, companies whose employees plan to work from Thailand must have an annual income of at least 50 million euros over the past three years instead of the previous 150 million euros. This change is aimed at simplifying access to visas for remote workers.
Limit on the number of family members has been removed
Another important decision is the abolition of the limit on the number of family members that a visa holder can bring with them to Thailand. Previously, there was a limit of four people for long-term visas, which made it difficult for large families to move.
As part of the reform, the cabinet also decided to abolish most types of Smart visas, leaving only a visa for startup owners. This change is explained by the fact that most of the conditions of Smart visas duplicate the conditions of long-term resident visas (LTR).
Thailand is the second most popular destination for digital nomads in the world, second only to Mexico. According to Nation Thailand, the country accounts for 12 percent of all digital nomads who choose to work and live there.
Among the most popular cities are Bangkok, Chiang Mai and Koh Phangan."
Thailand set to become a new hub for the rich and successful? Visa rules have changed
The Thai government has decided to simplify the rules for obtaining long-term visas for foreign citizens.
The new measures are aimed at attracting wealthy people, skilled professionals and digital nomads, which should stimulate their relocation to the country. These changes were approved at a cabinet meeting and include a number of significant concessions.
Minimum annual income requirement has been abolished One of the key innovations is the abolition of the minimum annual income requirement for specialists wishing to obtain a long-term visa. Previously, applicants had to prove that their income over the past two years was at least 80,000 euros per year. However, as the Board of Investment (BOI) analysis showed, this condition has become a reason for rejecting many potential candidates, although it was not the main factor for issuing a visa.The annual income threshold for companies has been loweredThe requirements for digital nomads working remotely for foreign companies have also been lowered. Now, companies whose employees plan to work from Thailand must have an annual income of at least 50 million euros over the past three years instead of the previous 150 million euros. This change is aimed at simplifying access to visas for remote workers.
Limit on the number of family members has been removedAnother important decision is the abolition of the limit on the number of family members that a visa holder can bring with them to Thailand. Previously, there was a limit of four people for long-term visas, which made it difficult for large families to move.
As part of the reform, the cabinet also decided to abolish most types of Smart visas, leaving only a visa for startup owners. This change is explained by the fact that most of the conditions of Smart visas duplicate the conditions of long-term resident visas (LTR).Thailand is the second most popular destination for digital nomads in the world, second only to Mexico. According to Nation Thailand, the country accounts for 12 percent of all digital nomads who choose to work and live there.
Among the most popular cities are Bangkok, Chiang Mai and Koh Phangan."
Quick google search will give you a plenty of sources
https://www.prnewswire.com/apac/new...perts-investors-and-executives-302351256.html
Quoting an old message, but I've seen a video in which a guy from the Revenue Department says the pre-2024 tax free stuff applies only to 'cash in the bank' e.g. not to brokerage accounts or crypto
I'm not sure if it was just poorly translated or not, but I've also read this a few times, what do you think?
does anyone know what this is about?
I have accounts in several banks but have received such SMS only from Krung Thai. maybe because they are a semi-government-owned bank?
I have accounts in several banks but have received such SMS only from Krung Thai. maybe because they are a semi-government-owned bank?
Thai banks are starting to verify tax residency/status of their account holders. K Bank started in November. There are reports Bangkok Bank has been circulating such forms and today apparently Krungthai started as well. I read a similar post today on another forum.
Yes, a friend of mine got the same message. Also, be careful, if the name your phone number is registered under doesn’t exactly match the name on your bank account, they will close your accounts. You need to sort it out before April 30th.
Only if it’s not under your name or your spouse name which is the same surname
In my case, it’s under my name, but people from certain nationalities (Portuguese for instance) may have compound names and multiple surnames. So mine isn’t registered exactly as it appears on my bank accounts, and I need to go sort it out. It could be something like the order is not the same.
they wanted to know my tax ID and tax residence, and that I don't have a US passport or a green card.
yes I gave them my Thailand tax ID and they have copied the page with a long term visa in my passport, I'm afraid this will be more difficult for people with a tourist visa.
the bank clerk said that this is an order from the Central Bank of Thailand, all Krung Thai customers will have to fill this form every year, and other banks might ask for this form too, however I did not receive such request from any other banks yet.
no biggie, in that case they shouldnt even report you.
Its imo better than having some accounts e.g. in Singapore and you arent resident which then gets reported to whereever.
Surprising that Singaporean banks report non-resident accounts to random jurisdictions.
They should report to the country tax residence address provided at account opening, or do you have any different proper information?
yeah this. Depending where you live this is not good at all. Dont want Don Carajo showing up on my beach front villa in Guadalajara.
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