UK-Thailand-Alternative large sum crypto cash out options

[Jonathan169]

Assets in excess of $10,000 are really useless in Thailand unless you are a Citizen, you can't own anything. And beware of legislation changing quickly against foreigners in the foreseeable future, as the politicians gain favour with the Thai population by kicking the foreigners in the nuts.
So, although you may love the place, which many do, it's a financial black hole in terms of holding or building assets, never mind realizing any future gains. The best advice is to set up your trading platform, and corresponding banks in a true offshore location, (Dubai?)- Good stop off en route between UK/Thailand) where you have 100% rights to any assets you may chose to buy in the future.
Maybe every time you visit i.e. for 3-4 months bring $10k in, or ATM it 50:50. but still, that's one hell of a a party.

 

[backpacker]

Assets in excess of $10,000 are really useless in Thailand unless you are a Citizen, you can't own anything. And beware of legislation changing quickly against foreigners in the foreseeable future, as the politicians gain favour with the Thai population by kicking the foreigners in the nuts.
So, although you may love the place, which many do, it's a financial black hole in terms of holding or building assets, never mind realizing any future gains. The best advice is to set up your trading platform, and corresponding banks in a true offshore location, (Dubai?)- Good stop off en route between UK/Thailand) where you have 100% rights to any assets you may chose to buy in the future.
Maybe every time you visit i.e. for 3-4 months bring $10k in, or ATM it 50:50. but still, that's one hell of a a party.

I agree with most of what you said. However, since this about crypto it is not enough to just "set up trading platform and corresponding banks in a true offshore location". He should better have his "centre of life" in such an offshore location (i.e. become a tax resident there). From this offshore location (his new tax residency) he can then easily go on an extended "vacation" to Thailand (tourist) for a couple of months every year.
A crypto-friendly country which might make sense for him to acquire tax residency is Georgia (always considering that he is not a day-trader) because that will save him setting up obscure offshore constructions. Another option would be Dubai, albeit on a much higher price level.

Btw., There is another thread where a similar case is currently discussed -> https://www.offshorecorptalk.com/th...s-for-a-thailand-based-crypto-investor.33110/

 

[Jonathan169]

I agree with most of what you said. However, since this about crypto it is not enough to just "set up trading platform and corresponding banks in a true offshore location". He should better have his "centre of life" in such an offshore location (i.e. become a tax resident there). From this offshore location (his new tax residency) he can then easily go on an extended "vacation" to Thailand (tourist) for a couple of months every year.
A crypto-friendly country which might make sense for him to acquire tax residency is Georgia (always considering that he is not a day-trader) because that will save him setting up obscure offshore constructions. Another option would be Dubai, albeit on a much higher price level.

Btw., There is another thread where a similar case is currently discussed -> https://www.offshorecorptalk.com/th...s-for-a-thailand-based-crypto-investor.33110/

I think I wrote 3-4 mths in Thailand, and unless somebody had an accident with the Improbability Drive the last I heard was that 3-4 months isn't 183 days. Georgia makes no sense, from travel, communication, quality of life or safety, if Ukraine kicks off they will get steamrolled too.
He could try Singapore as suggested in the thread (as a resident) but at some point, that's nearly as expensive as Thailand when you include the cost of living (Net Income) which nobody seems to value in this forum, [ I live somewhere and it's FREE?] I think I worked out the break-even point to move to Singapore was over $130,000 per annum...and if you like going from Starbucks "A" to Shopping Mall "B", it's a great place to live.
Labuan Island in Malaysia is another location in SE Asia worth looking into, especially since I think....you need a $5k BK deposit., $2k annual Fees, 3% Tax up to $47k..<<<ALL needs verification. Caveat Emptor et al.
https://globalbanks.com/labuan-offshore-bank/

 

[backpacker]

I think I wrote 3-4 mths in Thailand, and unless somebody had an accident with the Improbability Drive the last I heard was that 3-4 months isn't 183 days.

Come down, read in context.

Georgia makes no sense, from travel, communication, quality of life or safety,

• Travel: Look into a flight schedule and you will learn that connections are pretty good.
• Communication: Learn a bit Russian - not exactly difficult. The younger generation even speaks English!
• Quality of life: Better than other countries with comparable GDP per capita. Of course, if you need bars and obscure nightlife than it might not be the best place.
• Safety: Georgia consistently ranges in the group of "very safe countries". It is a lot safer than most places in SE-Asia, with the notable exception of Singapore and Brunei.

He could try Singapore

In case of residency: No! Read the numbers + study applicable regulation.

Labuan Island in Malaysia is another location in SE Asia worth looking into, especially since I think....you need a $5k BK deposit., $2k annual Fees, 3% Tax up to $47k.

If he wants to make this his permanent residence - maybe. Otherwise - no.