Residence in Thailand – Offshore Affiliate Marketing

[DigitalAffiliate]

Hi,

I am a British expat living in Thailand on the Thai Elite visa and want to do some overseas affiliate marketing on clickbank, impact and youtube. The platforms are asking me to enter an address and tax ID. Is it best entering my home country address in UK, or my Thai address, or register an offshore company for this? I am looking to minimize or preferably eliminate any tax liability. I don’t need to send funds to Thailand and don’t have a Thai Tax ID and I don’t spend any time in UK. I welcome any recommendations if anyone has any insights how to do this.

Thanks

 

[wellington]

If they ask for your tax residency then that’s Thailand

And when it comes to reporting you have to report it as it’s active income and taxable regardless of being remitted or not.

If however you do via an entity and it’s not remitted then it should in theory be tax free but only if it’s passive not active income and only if you don’t remit to personal in Thailand.

 

[DigitalAffiliate]

Thank you. Looks like I will need an overseas entity and director as I don't want to be involved in local tax reporting. I don't need to remit to Thailand. Which offshore countries work best for affiliate marketing promoting crypto offers and other financial services on clickbank and other affiliate platforms?

 

[Mercury]

And when it comes to reporting you have to report it as it’s active income and taxable regardless of being remitted or not.

Indeed, but we all know that "working" from your laptop is not enforced in Thailand.

 

[wellington]

Indeed, but we all know that "working" from your laptop is not enforced in Thailand.

Covering my arse lol

 

[DigitalAffiliate]

Thanks guys. My broker in US also just requested I update my W- 8 BEN form and want me to enter a tax id number. The system won’t submit the form until I enter my tax id. I still have the account registered back at my old address in China as I only recently moved to Thailand. I don’t have a tax id in Thailand as I don’t work here. Is there any issue leaving the US broker account under my address in China while living in Thailand? My Singapore bank forced me to update my Thai address on the W-8 BEN last year when they posted my new bank card, so I have W-8 BEN registered at two different address at the moment. Is that going to cause problems? Looks like I am best putting everything under an entity... Any ideas which countries are best to incorporate for low tax, banking access, and affiliate marketing for an expat living in Thailand?

 

[wellington]

Thanks guys. My broker in US also just requested I update my W- 8 BEN form and want me to enter a tax id number. The system won’t submit the form until I enter my tax id. I still have the account registered back at my old address in China as I only recently moved to Thailand. I don’t have a tax id in Thailand as I don’t work here. Is there any issue leaving the US broker account under my address in China while living in Thailand? My Singapore bank forced me to update my Thai address on the W-8 BEN last year when they posted my new bank card, so I have W-8 BEN registered at two different address at the moment. Is that going to cause problems? Looks like I am best putting everything under an entity... Any ideas which countries are best to incorporate for low tax, banking access, and affiliate marketing for an expat living in Thailand?

You can enter a TIN, I've had one since early 2010's and just enter it, nothing comes of it.

Reason being is Thailand is territorial tax based - unless this is crypto related - then stock trading overseas is not considered domestic, if it is however crypto related - then that is taxable world wide (use a vehicle with solid substance).

So entering the TIN shouldn't be an issue with a brokerage account outside of Thailand, as the funds are only taxed on remittance bases (not initial principle, but profit).

 

[Mercury]

Reason being is Thailand is territorial tax based - unless this is crypto related - then stock trading overseas is not considered domestic, if it is however crypto related - then that is taxable world wide (use a vehicle with solid substance).

Offshore crypto is apparently treated the same as offshore stocks, tax arises when income is remitted.

Thailand Cryptocurrency Income Personal Tax

On 18 Mar 2022, a Thailand tax Ministerial Regulation was gazetted granting a right to deduct capital losses from crypto income capital gains

sherrings.com

 

[wellington]

Offshore crypto is apparently treated the same as offshore stocks, tax arises when income is remitted.

Thailand Cryptocurrency Income Personal Tax

On 18 Mar 2022, a Thailand tax Ministerial Regulation was gazetted granting a right to deduct capital losses from crypto income capital gains

sherrings.com

Really? Interesting as I understood it was treated as such onshore under the guise it’s everywhere thus onshore when they did the updates in 2023

 

[DigitalAffiliate]

You can enter a TIN, I've had one since early 2010's and just enter it, nothing comes of it.

Reason being is Thailand is territorial tax based - unless this is crypto related - then stock trading overseas is not considered domestic, if it is however crypto related - then that is taxable world wide (use a vehicle with solid substance).

So entering the TIN shouldn't be an issue with a brokerage account outside of Thailand, as the funds are only taxed on remittance bases (not initial principle, but profit).

That is good to know. Thank you.

Really? Interesting as I understood it was treated as such onshore under the guise it’s everywhere thus onshore when they did the updates in 2023

I was planning to trade crypto with Kraken and Coinbase, as well as with my futures broker in US. Did they make an official statement crypto is subject to onshore taxation in Thailand even if traded from an offshore exchange / broker and not remitted to Thailand? If trading crypto futures (derivative) instead of spot, does that have a different tax implication?

 

[Radko]

with my futures broker in US.

May I ask what's the name of the broker that you use in the US to trade futures? Schwab, IBKR?

 

[DigitalAffiliate]

May I ask what's the name of the broker that you use in the US to trade futures? Schwab, IBKR?

Sure, I'm using IBKR and TradeStation to trade stocks and futures in US.

Can anyone please confirm whether crypto (BTC, ETH) profits made on spot or futures derivatives are taxable in Thailand if not remitted?

I'm considering registering a US LLC for YouTube Adsense revenue, and Seychelles or BVI IBC for receiving affiliate commission. Are these structures secure from Thai taxation if profits are not remitted. What kind of offshore substance is required? I read some people using SVG to own the Seychelles IBC, is there any advantage to doing that?

 

[Radko]

Sure, I'm using IBKR and TradeStation to trade stocks and futures in US.

Can anyone please confirm whether crypto (BTC, ETH) profits made on spot or futures derivatives are taxable in Thailand if not remitted?

I'm considering registering a US LLC for YouTube Adsense revenue, and Seychelles or BVI IBC for receiving affiliate commission. Are these structures secure from Thai taxation if profits are not remitted. What kind of offshore substance is required? I read some people using SVG to own the Seychelles IBC, is there any advantage to doing that?

I don't think you need to worry about Crypto profits from futures if you don't remit, plenty of my friends living in Chiang Mai are doing it and they don't pay any taxes.

 

[offsiteguy]

Offshore crypto is apparently treated the same as offshore stocks, tax arises when income is remitted.

Thailand Cryptocurrency Income Personal Tax

On 18 Mar 2022, a Thailand tax Ministerial Regulation was gazetted granting a right to deduct capital losses from crypto income capital gains

sherrings.com

Does this mean a tax resident of Thailand can own an offshore company that holds a crypto portfolio, and make disposals of the crypto and only pay tax on income thats remitted?

 

[JackieTsan]

If they ask for your tax residency then that’s Thailand

And when it comes to reporting you have to report it as it’s active income and taxable regardless of being remitted or not.

If however you do via an entity and it’s not remitted then it should in theory be tax free but only if it’s passive not active income and only if you don’t remit to personal in Thailand.

May I ask what is the difference between active and passive income as you mention it? Thank you

And when it comes to reporting you have to report it as it’s active income and taxable regardless of being remitted or not.

Where does the law says that if you don’t remit it inside Thailand, it’s taxable? Active means salary? Passive means dividends? Kindly correct me if I’m wrong. Thank you