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Secure wealth in Thailand

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Puzel12

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Dec 26, 2021
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#1
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What would you choose to protect your wealth in Thailand if your business is making 100k - 200k$ profit per year? The business is marketing agency.

I only withdraw like 2k$/month for living expanses and the rest I'd like to store under company instead of my personal name as it's risky especially with the CRS rules.

I was thinking about Cyprus and Estonia as most of the clients come from EU, so it will be easier for transactions within EU.

US LLC and storing wealth under it could work too, but I want to reinvest profits in European real estate and I feel like it's not 100% legal (transparent tax entity) vs company in any EU country will work because Thailand is not part of CFC. I can also consider entities in Asia or abroad if anyone have some idea.
 
#4
Puzel12 said:
Single member us llc + working only while travelling outside of thailand and making payouts while outside of thailand to offshore bank account could work?
Click to expand...

TH is not interested on taxing foreign corps, even if you manage them from TH, if they dont have any TH income (for now).

You can control it from here no problem.

As it stands now you have to pay taxes in salaries remitted to TH tho.
 
#5
I can advise based on ours, only issue i will say is we actually have substance overseas.

But previously we had a research vehicle in Thailand, we'd 'invest' into Thailand, but the Tax Department and our Lawyers advised redirecting forwards as a 'revenue' opposed to 'investment' (rather forceful) so that 'taxes' could be collected (we had 20-30 staff in the division and 3 universities working with the division (all STEM qualifications).

When Covid occurred we ceased all ops, fired and paid off all employees and closed it down, then doubled efforts elsewhere in the world.

We then transitioned most roles to automated/AI/Blockchain incorporation (accounting etc).

So basically went from something like 70-90 staff down to around 10.

So that's the thing you need to be considerate of if you do via offshore.

Best to establish overseas and just earn a dividends OR consultancy for yourself.
 
#6
Puzel12 said:
What would you choose to protect your wealth in Thailand if your business is making 100k - 200k$ profit per year? The business is marketing agency.

I only withdraw like 2k$/month for living expanses and the rest I'd like to store under company instead of my personal name as it's risky especially with the CRS rules.

I was thinking about Cyprus and Estonia as most of the clients come from EU, so it will be easier for transactions within EU.

US LLC and storing wealth under it could work too, but I want to reinvest profits in European real estate and I feel like it's not 100% legal (transparent tax entity) vs company in any EU country will work because Thailand is not part of CFC. I can also consider entities in Asia or abroad if anyone have some idea.
Click to expand...

Youd need another residency papers for setting your thing up if youre worried about thailand seing your crs. There are a lot of options out there for this.
ideally its in the same country where the company is as crs reports company accounts too, afaik.

Or you are only a shareholder and have staff working for your business, then its clear cut only some dividends on a random basis.
 
Last edited:
#9
Cyprus is a great option for your setup. Works for many of our clients in very similar setups with Thailand.
 
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