Digital Nomads, Biz owners in Bangkok

[andrew28fl]

Hey guys,

I am in Bangkok for the next month. I am evaluating Thailand as a future home, looking into Elite visa. Any digital nomads/business owners who call Thailand/Bangkok home? Would love to meet and pick you brain. Coffee on me

 

[troubled soul]

Do you post your experience here ? What are pro and cons .....?

 

[EliasIT]

You want to write more about yourself and let us know your questions.

 

[Frank in Bangkok]

I am in Bangkok for the next month ... evaluating Thailand as a future home

Welcome to Bangkok, Andrew.

I have been living here in Thailand for 20 years.
(Retired business owner from the USA.)

Living in Bangkok can be very pleasant; not Shangri-La, but quite pleasant.

However, trying to do business here is not pleasant.
This culture is top heavy with uncertainty and corruption.
Plus annoyance of dealing with Oriental business tricks at every turn.
The lying, cheating, scamming, and fraud never end.

A better plan would be to avoid doing business in Thailand --
make your money elsewhere -- and just enjoy living here.
The living is easy.

As for picking brains, I suggest doing it on this open forum where others can read, learn, ask questions, and add their own comments.

One comment to start things moving:
You have landed in Bangkok at the worst time of the year.
Today the sky is mostly clear, a light and refreshing breeze, temperature mild and Spring-like.
For a tourist, it's the best time of the year, but for someone
thinking about living here, you'll be lured in with the nice weather.
It doesn't last more than three months: mid-November thru mid-February.

More realistic if you come back in the hot season, or the wet season, or the flood season, or the burning season, or the riots & protests season, and then we'll talk some more.

-- Frank in Bangkok

 

[JackAlabama]

To get not only your feet wet and dive right into the matter. Id suggest a trip to Pattaya.
It will provide you with pretty unique insights, leanings, valuable lessons and provides an compressed optimal "battle- and training ground" .

Its just a short and cheap grabtaxi ride (just 2h and 50$ or so) away from bangkok. Very easy and convenient.

Pro tip: Do not jump into any of the good and nice looking business and investment opportunities even if they are presenting themselves with massive FOMO.

Having mastered the initiation period and to digest these learnings, the opposite of the Thai golf is ideal to sort your head thereafter and make plans on how to proceed when back in Bangkok.

 

[andrew28fl]

Thanks all for your suggestions. I should have explained more about my situation and plans before asking for meetings or inputs. So here goes:

For various reasons that might not be relevant to most people, I have narrowed down my options to Dubai or Bangkok. I spent a month in Dubai earlier this year, and now in Bangkok for a month. I might explore some islands around Bangkok, but don't want to go as far as Phuket or Ko Samui etc.

I have investments in low 8 figures, no kids, so the goal is to blow this money over the next 20-30 years, if I live that long. I currently operate a Single member LLC in the US, and that income is also tax free because of me being a Canadian, and non-resident in Canada for tax purposes. I won't get into my current tax residency, but the future tax residency is a concern and of importance to me.

If I live in Thailand on Elite visa, would my single member US LLC be tax free? Technically, I will be managing that LLC from where I live, but I don't think Thailand enforces the permanent establishment. Please share your own experiences.

Dubai would be a lot easier tax residency wise. No personal income tax, even though the new 9% corporate tax is being introduced, I don't think they will go as far as enforcing that on my US Single member LLC. But again, the details are hazy on this..so what knows.

Weather and nature wise, is Bangkok a decent place to be in? Or do you really only get 2-3 months of decent weather (as Frank in Bangkok said)? Dubai at least has 4-5 months of great winter months. How would you compare the two, if anyone has any personal experiences. Thank you again for you time!

To get not only your feet wet and dive right into the matter. Id suggest a trip to Pattaya.
It will provide you with pretty unique insights, leanings, valuable lessons and provides an compressed optimal "battle- and training ground" .

Its just a short and cheap grabtaxi ride (just 2h and 50$ or so) away from bangkok. Very easy and convenient.

Pro tip: Do not jump into any of the good and nice looking business and investment opportunities even if they are presenting themselves with massive FOMO.

Having mastered the initiation period and to digest these learnings, the opposite of the Thai golf is ideal to sort your head thereafter and make plans on how to proceed when back in Bangkok.

Hey Jack, I should have been clear, I am not looking to invest in Thailand, or run a local business here. Just want to operate my US Single Member LLC or some other offshore entity while living in Thailand. Is Pattaya a better place than Bangkok to live, for a person who enjoy open spaces, clean air, walks, and nature? For various reasons, I don't want to be too far away from Bangkok (like in Phuket or Ko Samui etc). Thanks!

 

[JackAlabama]

Thanks all for your suggestions. I should have explained more about my situation and plans before asking for meetings or inputs. So here goes:

For various reasons that might not be relevant to most people, I have narrowed down my options to Dubai or Bangkok. I spent a month in Dubai earlier this year, and now in Bangkok for a month. I might explore some islands around Bangkok, but don't want to go as far as Phuket or Ko Samui etc.

I have investments in low 8 figures, no kids, so the goal is to blow this money over the next 20-30 years, if I live that long. I currently operate a Single member LLC in the US, and that income is also tax free because of me being a Canadian, and non-resident in Canada for tax purposes. I won't get into my current tax residency, but the future tax residency is a concern and of importance to me.

If I live in Thailand on Elite visa, would my single member US LLC be tax free? Technically, I will be managing that LLC from where I live, but I don't think Thailand enforces the permanent establishment. Please share your own experiences.

Dubai would be a lot easier tax residency wise. No personal income tax, even though the new 9% corporate tax is being introduced, I don't think they will go as far as enforcing that on my US Single member LLC. But again, the details are hazy on this..so what knows.

Weather and nature wise, is Bangkok a decent place to be in? Or do you really only get 2-3 months of decent weather (as Frank in Bangkok said)? Dubai at least has 4-5 months of great winter months. How would you compare the two, if anyone has any personal experiences. Thank you again for you time!


Hey Jack, I should have been clear, I am not looking to invest in Thailand, or run a local business here. Just want to operate my US Single Member LLC or some other offshore entity while living in Thailand. Is Pattaya a better place than Bangkok to live, for a person who enjoy open spaces, clean air, walks, and nature? For various reasons, I don't want to be too far away from Bangkok (like in Phuket or Ko Samui etc). Thanks!

Well. Jomtien beach has more what you look for then.
Or the other side of the golf, area around Hua Hin, also easy and cheap to reach by grab.

Well, BKK is like NY or any big big city. It has a nicer vibe tho and is considerably cheaper than western cities for what it offers. But nevertheless, it is a big city.

 

[benbao]

Dubai has better taxes, better business environment, better infrastructure, better visa options, higher lifestyle and service, better health care, but is considerably more expensive.

The weather is a preference matter, do I like summer in the middle East? No. Is it so bad that I need to wine every chance I get about how you can only be there for 4 months a year? Definitely not but then again everyone has a different heat tolerance.

Thailand will also be better for dating and flexible application of laws if that's important to you.

 

[JackAlabama]

Dubai has better taxes, better business environment, better infrastructure, better visa options, higher lifestyle and service, better health care, but is considerably more expensive.

The weather is a preference matter, do I like summer in the middle East? No. Is it so bad that I need to wine every chance I get about how you can only be there for 4 months a year? Definitely not but then again everyone has a different heat tolerance.

Thailand will also be better for dating and flexible application of laws if that's important to you.

yah.
OP can also easily pick both. His finances allow for both options with ease.
It is always nice to have a Dubai freezone company and having a place to go during the summer heat.

 

[boomy]

Dubai has better taxes, better business environment, better infrastructure, better visa options, higher lifestyle and service, better health care, but is considerably more expensive.

If I had to choose between Dubai and Thailand I would choose Dubai for sure. Everything works much better there compared to Thailand. However, I don't know if they have ladyboys in Dubai so if that is a must Thailand may be a better choise.

 

[troubled soul]

If I had to choose between Dubai and Thailand I would choose Dubai for sure. Everything works much better there compared to Thailand. However, I don't know if they have ladyboys in Dubai so if that is a must Thailand may be a better choise.

But You can invite them in Dubai.....If you can not live without them......
Food Poisoning is a thing in Thailand....In Dubai You never heard this type of thing

 

[backpacker]

OP can also easily pick both.

That is exactly what @andrew28fl should do: Do not rely on a single jurisdiction if you can afford multiple ones!

However, I don't know if they have ladyboys in Dubai

At least not native

 

[KDX]

I have investments in low 8 figures, no kids, so the goal is to blow this money over the next 20-30 years, if I live that long. I currently operate a Single member LLC in the US, and that income is also tax free because of me being a Canadian, and non-resident in Canada for tax purposes. I won't get into my current tax residency, but the future tax residency is a concern and of importance to me.

If I live in Thailand on Elite visa, would my single member US LLC be tax free? Technically, I will be managing that LLC from where I live, but I don't think Thailand enforces the permanent establishment. Please share your own experiences.

Dubai would be a lot easier tax residency wise. No personal income tax, even though the new 9% corporate tax is being introduced, I don't think they will go as far as enforcing that on my US Single member LLC. But again, the details are hazy on this..so what knows.

9% tax in UAE only applies to mainland companies, not the free-zone or foreign companies (as far as I'm aware, if you have doubts, you can structure that around a free-zone company?).

 

[myshufflemix]

So UAE companies if foreign still don't pay any tax in the UAE - @Fred can you confirm ?

 

[Fred]

So UAE companies if foreign still don't pay any tax in the UAE - @Fred can you confirm ?

Confirmed.

Freezone Companies without any Mainland Sourced income DON'T pay 9% CT.

 

[Puzel12]

Im 24yo with 2 online businesses, living in Bangkok. Anyone want to connect? Message me. Being succesful here started to feel kind of lonely, so I am looking for making new friends

 

[Frank in Bangkok]

living in Bangkok ... Being succesful here started to feel kind of lonely, so I am looking for making new friends

Puzel12 points out a common problem for successful (and intelligent) expats and nomads in Thailand:
There aren't many others like you.
Some, but very scarce.

I have tried many ways to make new friends here, but everywhere I look, not people with whom I want to spend my time.
Back home (USA), plenty of good friends and plenty of ways to make new friends: never a lack.
Had I realised this when I chose to retire in Thailand, I might not have come here.

Are there any possibilities for Puzel12 and the OP andrew28fl ?
Very few.
And it takes months, years to make just a little progress.
In one month, or even three months, probably no.

Possibilities:

Find a few restaurants and coffee shops you like, and go back there day after day.
Make eye contact with the few other repeat customers and say, "Good morning."

Search for a gym or sport activity you like and become a regular. Motocycle riders and bicycle riders are two examples.

On the other hand, among my Thai friends, no lonely feelings at all.
But that means learning the language to at least intermediate level:
Plan 5-10 years.

Wish I could be more encouraging, but those are the facts as I observe them.
I would like to read some contrary opinions.

.

 

[andrew28fl]

If I had to choose between Dubai and Thailand I would choose Dubai for sure. Everything works much better there compared to Thailand. However, I don't know if they have ladyboys in Dubai so if that is a must Thailand may be a better choise.

All jokes aside, my feeling so far is that if you take the adult entertainment (whatever flavor you're into, including dating Thai women, which I should probably not categorize as entertainment) out of the equation, then Dubai wins over Bangkok in other departments. Having spent a month in Dubai, and a week in Bangkok so far, I don't really see the appeal of Bangkok. I am going to make a trip to Pattaya, Hua Hin, and Phuket (western part, millionaire's mile) to see if they have something better to offer compared to Bangkok and report back.

I really enjoyed my stay on Dubai Marina, could go for a 7-8k run. Dubai in general is much cleaner than Bangkok and there is no language barrier. Thai is a difficult language to learn, so must really commit. So far the only pocket I am remotely interested in is the Lumpini/Benjakitti park area, but even there the parks are the only attraction. The streets around the parks have the same dirty feel to it, weird smells everywhere, saw an open sewage near Benjakitti. Hope I am not offending anyone, just sharing my experience. The real downside to Dubai is its summer, which can be quite long depending on your tolerance. But from what I hear, Bangkok has weather related issues too (flooding, humidity etc).

 

[RealDude]

All jokes aside, my feeling so far is that if you take the adult entertainment (whatever flavor you're into, including dating Thai women, which I should probably not categorize as entertainment) out of the equation, then Dubai wins over Bangkok in other departments. Having spent a month in Dubai, and a week in Bangkok so far, I don't really see the appeal of Bangkok. I am going to make a trip to Pattaya, Hua Hin, and Phuket (western part, millionaire's mile) to see if they have something better to offer compared to Bangkok and report back.

I really enjoyed my stay on Dubai Marina, could go for a 7-8k run. Dubai in general is much cleaner than Bangkok and there is no language barrier. Thai is a difficult language to learn, so must really commit. So far the only pocket I am remotely interested in is the Lumpini/Benjakitti park area, but even there the parks are the only attraction. The streets around the parks have the same dirty feel to it, weird smells everywhere, saw an open sewage near Benjakitti. Hope I am not offending anyone, just sharing my experience. The real downside to Dubai is its summer, which can be quite long depending on your tolerance. But from what I hear, Bangkok has weather related issues too (flooding, humidity etc).

Skip Hua Hin, Phuket, Pattaya and Bangkok and move on to Chiang Mai or a remote island like Ko Lanta if you have to stay in Thailand. I have been there, never again. Skip Bali too…

 

[Mercury]

So far the only pocket I am remotely interested in is the Lumpini/Benjakitti park area, but even there the parks are the only attraction.

If you like running try Wachirabenchathat Park (Suan Rot Fai) up north Queen Sirikit and Chatuchak parks.
Very enjoyable place to run with a lot of green and shaded paths.