Are you running USA LLC from Thailand ?

[troubled soul]

How many of you running USA LLC from Thailand ?
Are you running USA LLC without problem from Thailand ?
Do you face any problem from IRS or Thai Government?
How was your experience ?
what are the pro and cons?
Please share

 

[hanku89]

up

 

[TheCryptoAnt]

How many of you running USA LLC from Thailand ?

Ive in the past.

Do you face any problem from IRS or Thai Government?

no, sabai sabai

How was your experience ?

good, kinda hot at times

what are the pro and cons?

i see not many cons to Thailand unless uve got kids cause decent education is expensive.
cheap, things are a few bills away from being sorted out for you, etc

 

[clemens]

will be following since I a while back considered Thailand for a few years.

 

[TheCryptoAnt]

will be following since I a while back considered Thailand for a few years.

just go, you wont regret it.

 

[AtMo]

I'm also considering US LLC/UK LLP +thailand Elite visa.

But is it possible to open a bank account in Thailand without being considered a PE.

Or should I better stick to credit cards from another country for everything in Thailand?

 

[KingKing777]

I'm also considering US LLC/UK LLP +thailand Elite visa.

But is it possible to open a bank account in Thailand without being considered a PE.

Or should I better stick to credit cards from another country for everything in Thailand?

Thai Elite Visa holders can open banks accounts, no problem. Office that handle The Thailand elite issue documents for you to open bank accounts.

I'm also considering same setup as you.

 

[JackAlabama]

so is the dubai caravan now traveling onwards to Thailand? So it will only be a question of time until thats gonna shut too?
the americas are open for business as well.

 

[JustAnotherNomad]

But is it possible to open a bank account in Thailand without being considered a PE.

Income is taxable in Thailand if it is:

a) Earned in Thailand (local income) or
b) Remitted to Thailand in the same year as it was earned

Not sure why you would want to send your money to Thailand, but maybe you enjoy paying taxes?

 

[Berti]

so is the dubai caravan now traveling onwards to Thailand? So it will only be a question of time until thats gonna shut too?
the americas are open for business as well.

This only works if you stay under the radar. Don‘t go to the Thai tax office and ask if you can run an US LLC in Thailand. You are not allowed to work in Thailand with an Elite or retirement visa. People got deported because closing the shop-door of their Thai wife in the evening without work permit.

Don‘t tell anyone about anything and only transfer reasonable amounts only from your personal bank account abroad to Thailand (like 1000s of retirees do monthly).

Just my 2 cents.

 

[JustAnotherNomad]

I believe they are adding a new type of Elite visa that comes with a work permit?

 

[troubled soul]

I believe they are adding a new type of Elite visa that comes with a work permit?

wait for Oct...I also thinking the same....price rise+ more tax benefits

 

[Berti]

I believe they are adding a new type of Elite visa that comes with a work permit?

Maybe.
I just wanted to explain that Thailand is very very strict about their immigration laws and not so strict about their tax laws as long as you stay under the radar. Exactly the opposite of Europe.

Maybe.
I just wanted to explain that Thailand is very very strict about their immigration laws and not so strict about their tax laws as long as you stay under the radar. Exactly the opposite of Europe.

I want to add that a special visa with work permit probably comes with an obligation to pay tax. Even if it‘s a special rate it‘s no more a tax free setup.
I still think staying under the radar is the best solution, realistic and easily done.

 

[AtMo]

Income is taxable in Thailand if it is:

a) Earned in Thailand (local income) or
b) Remitted to Thailand in the same year as it was earned

Not sure why you would want to send your money to Thailand, but maybe you enjoy paying taxes?

I'm thinking about paying rent or maybe buying a car, I would need a local bank account.

Mainly I will only be using my credit card for daily uses.

Do you think I should change my residence address on my bank accounts from my home country to Thailand address as well? So CRS doesn't report to my home country?

 

[KingKing777]

This only works if you stay under the radar. Don‘t go to the Thai tax office and ask if you can run an US LLC in Thailand. You are not allowed to work in Thailand with an Elite or retirement visa. People got deported because closing the shop-door of their Thai wife in the evening without work permit.

Don‘t tell anyone about anything and only transfer reasonable amounts only from your personal bank account abroad to Thailand (like 1000s of retirees do monthly).

Just my 2 cents.

Makes sense. No sharing sensitive information is key.

I want to add that a special visa with work permit probably comes with an obligation to pay tax. Even if it‘s a special rate it‘s no more a tax free setup.
I still think staying under the radar is the best solution, realistic and easily done.

If it's a special rate of 5-15% why not. It's way better than paying more than 30-40% in some countries in Europe.
But definitely, staying under the radar is best.

 

[JustAnotherNomad]

I'm thinking about paying rent or maybe buying a car, I would need a local bank account.

Sure, then just pay the taxes.

Mainly I will only be using my credit card for daily uses.

That would also count as remitted income, so make sure you pay the taxes.

Do you think I should change my residence address on my bank accounts from my home country to Thailand address as well?

Sure, if you are tax resident in Thailand and not in your home country?

So CRS doesn't report to my home country?

Why would you care about CRS if you don't live in your home country?

 

[Mercury]

Why would you care about CRS if you don't live in your home country?

Thailand joined CRS this year.
If you change your foreign bank accounts address to be Thailand (as your residence) then next year your banks abroad will send CRS information to Thailand.
Question is: What will Thailand do with such data? ... probably nothing.

 

[wellington]

Thailand joined CRS this year.
If you change your foreign bank accounts address to be Thailand (as your residence) then next year your banks abroad will send CRS information to Thailand.
Question is: What will Thailand do with such data? ... probably nothing.

Collect it alongside all the other heaps of paperwork they collect lol.

Sure, then just pay the taxes.



That would also count as remitted income, so make sure you pay the taxes.



Sure, if you are tax resident in Thailand and not in your home country?



Why would you care about CRS if you don't live in your home country?

I understand they report CRS regardless, to your home country, regardless of address (residence) on account, and I also don't believe i've ever had to provide a residence certificate for a bank account (and that's from a decade+ ago, and to recent ones the Government organised to be opened.

My only concern about my nation (citizenship) getting information, is that at some point they will need to tax overseas non-residents to continue their populistic political agenda which has debased the currency to the last bastion of viable support within the populace.

 

[JustAnotherNomad]

Thailand joined CRS this year.
If you change your foreign bank accounts address to be Thailand (as your residence) then next year your banks abroad will send CRS information to Thailand.
Question is: What will Thailand do with such data? ... probably nothing.

What do you expect them to do with the data if they only tax income that is remitted to Thailand?

 

[TheCryptoAnt]

My only concern about my nation (citizenship) getting information, is that at some point they will need to tax overseas non-residents to continue their populistic political agenda which has debased the currency to the last bastion of viable support within the populace.

Soon in your favorite EU country!