Non Resident Canada Lp + Elite visa thailand

[matata1996]

As a Moroccan national looking to open a partnership in Ontario, Canada, I am interested in finding out if it is possible to open a business bank account by physically visiting a bank. I currently make money through my YouTube channel and need a physical bank account as accounts like TransferWise are not accepted by Google AdSense. I am looking for a debit card for my business.

I was also considering setting up my business in Canada and residing in Thailand with the Thai Elite visa, using the remittance policy to pay myself dividends tax-free in Thailand. Is this a viable setup? If you have any other suggestions for a better setup, I would appreciate any input you have. Thank you for your help.

 

[I'mRobot]

What about Revolut which is a bank, Mister Tango and other similar lager EMI's are they also not accepted by Google?

 

[Marzio]

Is this a viable setup?

Nope because an Ontario LP is tax transparent so firstly you don't pay yourself dividends but business profits and secondly you'll pay 5% US WHT on youtube royalties since your Ontario LP will be considered tax resident in Thailand.

You are also creating a PE in Thailand by managing your business from there and even if it's unlifely that somebody will ever come to you asking you to pay taxes, it has to be said that Thailand is taking part of CRS starting from 2023 so they will know exactly who are the people that have money overseas.

 

[wellington]

Thailand is taking part of CRS starting from 2023 so they will know exactly who are the people that have money overseas.

I understood it started in 2022.

 

[matata1996]

What about Revolut which is a bank, Mister Tango and other similar lager EMI's are they also not accepted by Google?

Not accepted.

 

[Mercury]

Thailand is taking part of CRS starting from 2023 so they will know exactly who are the people that have money overseas.

I understood it started in 2022.

Indeed, with CRS Thailand will know exactly how much money resident foreigners own abroad.

It will be extremely useful for them in order to kick out poor chaps overstaying the kingdom and rolling out the red carpet to the potential biggest spenders.

 

[Marzio]

I understood it started in 2022.

Nope, it will start from 2023

https://www.oecd.org/tax/transparency/AEOI-commitments.pdf

 

[TheCryptoAnt]

if any of you think Thailand is gonna get their s**t together all of a sudden cause they joined CRS you have to stop doing Kratom.

I lived there for years and its the biggest shitshow ever.

OP you fine, Thai Elite holders are left alone.

 

[RealDude]

Thai prisons have among the highest standard of living.