Yes. But the problem is that for Thai residents, you don't have the option to have an a physical card.Bump on this.
If I change my EU Wise address to a Thai address, will they require proof of residency in Thailand?
I do have a Thai driving license, will it work?Yes. But the problem is that for Thai residents, you don't have the option to have an a physical card.
Yes, it worksI do have a Thai driving license, will it work?
I believe wise will report you to your home country if you keep the old address there.Isnt it best to just keep the Wise account in the old EU/UK address? Not so difficult to keep a bank statement or bill in that address and have mail forwarding. Or if you own property (or can use friends/family address) then it's even easier. Anyway, Wise basically never asks to prove the address again if you opened the account in a high tax country.
I think that's what many people do. If you open a bank account elsewhere, there are also good chances that the bank will ask for the tax id of your citizenship country and report there too.I believe wise will report you to your home country if you keep the old address there.
Ok, so say you are a Belgian citizen and opened a UK Wise account while you were a resident in the UK.I believe wise will report you to your home country if you keep the old address there.
It just adds layers of hassle. The tax authority can contact you, request an explanation for the transactions, and require you to prove that you are not liable for taxes.Ok, so say you are a Belgian citizen and opened a UK Wise account while you were a resident in the UK.
You keep the Wise account in your old UK address, but you have lived in Thailand/UAE/Philippines/Congo/Mexico the last decade.
So the UK authorities could of course get data from Wise, if they wanted. And maybe Wise even does reporting to your passport country Belgium. But if Belgium receives such a report, they'll just go, this guy doesn't live here, not our problem, discard.
In case it is UK, we recently had a discussion with @Martin Everson. You may want to make sure HMRC has a foreign address of you on file where you can receive mail. They may send things as I've learned from Martin.Ok, so say you are a Belgian citizen and opened a UK Wise account while you were a resident in the UK.
You keep the Wise account in your old UK address, but you have lived in Thailand/UAE/Philippines/Congo/Mexico the last decade.
So the UK authorities could of course get data from Wise, if they wanted. And maybe Wise even does reporting to your passport country Belgium. But if Belgium receives such a report, they'll just go, this guy doesn't live here, not our problem, discard.
@Martin Everson thank you for your report. How did the HMRC contact you when you were no longer at that address?
What is you experience on this?
It just adds layers of hassle. The tax authority can contact you, request an explanation for the transactions, and require you to prove that you are not liable for taxes.
Because you get great EMI/bank accounts while living in countries where you cant have good EMI/Bank accounts using a local address. I have been doing this for over a decade with accounts in multiple countries, while having West Africa as main home base. Has been zero hassle, zero enquiries from tax authorities.Why would you need it if you can avoid it?
Yeah, but they only report to places where you are not a resident, so it gets discarded.Those EMIs do report you to the tax authorities, which is why they ask for your tax number.
Which tax authority?
The UK one in the example above? Yes, you should have a mail forwarding service set up from the UK address you are using, but you are clearly not a UK tax resident in the example given, so I think it is quite unusual that UK tax authorities would contact you.
Would need to see the details of the Martin Everson case.
The Belgian one? They'll just discard it.
Because you get great EMI/bank accounts while living in countries where you cant have good EMI/Bank accounts using a local address. I have been doing this for over a decade with accounts in multiple countries, while having West Africa as main home base. Has been zero hassle, zero enquiries from tax authorities.
And good luck trying to open a bank account with an address in West Africa! Basically all western expats/foreigners here keep bank accounts in western countries, and often using the old address.
Yeah, but they only report to places where you are not a resident, so it gets discarded.
And ideally where you actually reside, there is no such thing as a tax number.
Is it only for personal account?Ya my Wise account was completely crippled when I had a residency in the UAE. Royalty owns banks and communication and are important pressure points for controlling a people.
I don’t know if wise really reports to tax authorities yet. If they would they would ask for a utility bill or tax id and they don’t or at least they didn’t a couple of years ago.I believe wise will report you to your home country if you keep the old address there.
A couple of years ago, you could walk into a bank with a totally fake passport and walk out with a bank account booklet.I don’t know if wise really reports to tax authorities yet. If they would they would ask for a utility bill or tax id and they don’t or at least they didn’t a couple of years ago.
I think Wise will care about where the owner of the US LLC is a resident, and not allow countries where Wise does not operate.Is it only for personal account?
What if a UAE resident opens a corporate Wise account for a US LLC (or any company in a allowed country)?
good to know. Im gonna lowkey troll them like thatWise has a banking license in Belgium. They report.
Wise report to the country of tax residency + to all countries where any kind of the ties is found by them. Their system detects ties by:
IP address used for log in is used more than onece in a longer time period.
Phone number