Opening an account in Cambodia

[nomad999]

Actually, in comparison Thailand is well ahead of everyone as crypto is now regulated there, they have a few regulated exchanges and so transfer from Thai banks to those Thai exchanges is allowed.

 

[blackeric]

are you certain? I've always heard that cryptocurrency in Thailand isn't prohibited, but isn't allowed either.

only to/from Thai exchanges? What are thai exchanges? what about Kraken for instance?

 

[nomad999]

Absolutely certain, bitkub is the regulated exchange with the most volume, unfortunately only bitcoin/thb has decent volume, other crypto not so much...
Still a very good way to take money out the country cheap and easy.

The bad part is they also clearly defined crypto as local source income and impose a 15% capital gain tax for tax resident no matter where the trade occurs, crypto income or interest would also be taxed as local sourced income.

Pretty sure you could receive fund from kraken in a Thai bank, but not so sure about getting the money out the country easily
Wouldn't consider that a good solution at all.

 

[blackeric]

What bank do you recommend, except BangkokBank and Kasikorn, that has convenient internet banking, supports internet payments and has no strange limitation for farangs such as "no internet banking", or "no bank card", or " account only in THB"? And that allows receiving and sending international payments.

Have you tried UOB?

 

[daxbr]

What bank do you recommend, except BangkokBank and Kasikorn, that has convenient internet banking, supports internet payments and has no strange limitation for farangs such as "no internet banking", or "no bank card", or " account only in THB"? And that allows receiving and sending international payments.

Have you tried UOB?

Attempted earlier this month with several tricks that worked in the past, no luck. Work permit only.

 

[nomad999]

only have bangkok bank, it works but very limited due to being on a tourist visa and the mobile app is really not great.
I only use it to avoid the atm fees when in thailand so I don't really care much for now.

I would try opening at UOB or CIMB which are major banks in all Asia for a much better mobile app and internet banking, but that's just a guess.
regarding making international transfer I am pretty sure this is a restriction applied by the authority when you are on a tourist visa. that why this regulated crypto exchange is perfect as it allows to to bypass this.

 

[zeytin]

I guess they want Cambodia because Cambodia is not part of any treaties and keep your bank account balances hidden

 

[GiGoGo]

I guess they want Cambodia because Cambodia is not part of any treaties and keep your bank account balances hidden

Not part of CRS / FATC

But it's a very corrupt country, so I would be careful

Anyway I'm thinking to make a visit in 2020, let me know guys if any of you wants to join

 

[zeytin]

I wouldn't trust my money with any bank in Cambodia. For small amounts, perhaps it is okay.

 

[GiGoGo]

Yes, but this may be so temporarily situation. What's the point then?

I don't think there would be any permanent solution.
Money hungry govs are going to keep chasing any escape, so you need to keep looking new ways

 

[nomad999]

If Cambodia is backed by China, its likely they could stand against the OECD for quite some time.

 

[JohnSeed]

Why then China is a member of OECD? Why China hasn't been backed by China?

AGAIN !!!

 

[speedster]

Why then China is a member of OECD? Why China hasn't been backed by China?

Not sure if you're trolling or simply ill-informed

 

[speedster]

You're not only unsure -- you don't know. You may ask me about that. Maybe I'll answer you.

Not needed. You just gave me the answer. I don't foresee you being around much longer though so I'll say goodbye now.

 

[JohnSeed]

Not needed. You just gave me the answer. I don't foresee you being around much longer though so I'll say goodbye now.

You must have magic power thanks @Admin to ban this