Ah, you mean taking a loan overseas, sorry I thought you meant taking a loan in Thailand
Our valued sponsor
Thailand Capital Gains Tax on "Foreign Sourced Gains"
- Thread starter flyinglow
- Start date
Easy... its just a name in the meta... consider a csv/spreadsheet, sort by
Fly to KL withdraw, fly back ~ 1hr flight time.
Joke - Alternative fly to KL open a bank, open the bank in a arabic name lol
Have a friend thinking he can get a gift from his non Thai wives mother...
Perhaps works, who knows.
Fortunately i've been grandfathered in so all my savings are tax free.
All those are good ideas...., but flying with $20K in cash is risky.
In the western world the most that you're allowed to carry in cash is 10K, more than that, by law, has to be declared.
I guess you can ask your lovely lady to carry another 10K, and I'm not sure you want to ask a child to carry another 10K. If Mr. Customs guy finds the cash, they are going to ask you to fill a bunch of forms, just to make sure you're not doing that on a regular basis.
The good old days when you could fly with a suitcase full of cash are over my friend.
I think using foreign debit & credit cards is the way to go. I don't know how the Thai authorities are going to keep track of so many Expats.
Best alternative, move to Cyprus:
-Easy to get permanent residency.
-No Capital gains tax.
-No taxes on dividends.
-No foreign income tax.
-Great weather all year round.
-Very safe.
-Not that far from Thailand & Europe.
-And you only have to spend 60 days per year to keep your tax residency.
Last edited:
Like is it a joke or you consider/recommend that? Never tought about KL bank account, either the requirements as non resident there..
Anyway saving is still tax free for anybody no? And only with LTR visa to remit in Thailand (INCOME) you are still tax free, otherwise yes tax has to be paid..
Yes by the law when you leave/enter EU you have to declare above 10K€ (and some countries like France if you are travelling BETWEEN EU countries. But still half of the EU countries doesnt have that law fortunately, inside EU).
I don't know your experiences but I took hundredS of flights (out EU), I never saw any customs or things like this when you LEAVE EU. Of course when you land, you pass more 'officially' through the green or red line after the luggage carpets..
Also depends the country/airport from where you travel. For example if we talk about Budapest.. Literally the passport checking (for non EU flights) is like few immigration cabin and you have the boarding gate 20/30meters behind, with nothing between.. I assume there is very very low possibility to get check/control when you leave.. When you arrive it's another topic.
No offense, but you cannot really compare life in Cyprus and life in BKK (or even some islands, depend what you looking for).. NOT the same at all. Personally I really dont like Cyprus. When i was looking to change my residency at this time from HU, many years ago (but staying in EU), i was considering Malta and Cyprus. By spending time in both places, I choose Malta. Never liked the vibes in CY.
But just personal choice ofc.
Last edited:
I had forgotten about the LTR Visa, arguably the best visa to get at the moment. Not sure what the requirements will be after the 10 years are over.
that might be phased out or changed in no time. No guarantees nor rule of law.
Nah - if you have residence in Thailand and have savings 2024 its tax free remittance wise
Yep. For those looking for certainty and constancy Thailand is not the place to be.... the other side of the coin being flexibility and still kind of freedom compared to other well-developed countries.
Anyhow individuals, and it's backed by figures, who pay taxes in Thailand are either because it's withheld from their income or they are willingly eager to pay.
Yes yes I was only talking for INCOME (in that case it's taxed, but any saving no). Except for LTR visa : saving AND income remitted = tax free
Based on the releases. - and information
If you have savings pre 2024 ok no tax
If you have invested savings pre 2024 ok no tax if remit only principle
If income yes tax, if pension possible tax
yes but still the same FROM 2024.
Saving + invested saving (remit only principle) also will stay tax free, correct no ? even from/after 2024.
For the tax residency rules, Thailand is strictly for the 180days+. So it's mean if you are in the kingdom like 170days a year, or 175, or even 179 days, NO tax if you remit INCOME (no saving) this particular year. Still correct?
Yes. Its just the way emerging markets work. Thailand is not even alone with that and more over all of Asia is similar in that regard.
yes sure. If you go there in 2030 for the first time, all prior is savings. Keep statements from 31.12.2029.
sure. but if that does not by any means mean you're safe
if someone thinks you need to pay so will it be.From your posts, I see you are looking for legally binding ways to be safe. You wont find that in the global south, there are other ways to achieve what you looking for there.
Yes. Its just the way emerging markets work. Thailand is not even alone with that and more over all of Asia is similar in that regard.
yes sure. If you go there in 2030 for the first time, all prior is savings. Keep statements from 31.12.2029.
sure. but if that does not by any means mean you're safe
From your posts, I see you are looking for legally binding ways to be safe. You wont find that in the global south, there are other ways to achieve what you looking for there.
Yeah, as I read and discussed, I noticed you cannot have certitude with SEA or south in general, but I really like SEA and Thailand in particular.
I know there are other options, but I don't want to live 6months a year in Dubai for ewample. no way.
Neither in carribbean island, neither in Panama etc.. (neither Cyprus too).
If you read my posts, I mention that I want to take distance with Europe, but till now my set-up works properly with NHR portugal (and prior in Malta) : I have only passive income (dividends, interests), mostly my wealth came/come from capital gains and I also have some international real estate income (where i pay the rental taxes in the country where the flats are located).
As I said I am ok to spend at least 180days a year in Thailand if necessary, I was just asking how Thailand considers you if you stay one year like 175 days or even 179days in any particular year ? As the 180days+ seem the ONLY condition to be (or not) thai tax resident.
I Just went back last week in Europe from 4 months in Asia (mostly Thailand : 105 days already this year).
I plan to go back after september there, mix Thailand and SEA till the end of the year, without reaching the 180days+ for 2024 (and keep my NHR portugal tax scheme until this 2024 tax year).
And from 2025 calendar year, switching officially for Thailand. That's the plan for now
That's why it is PARAMOUNT to know the identity of this "someone."
There is NO certainty ANYWHERE! Zero! Nada! Zilch! I'm speaking from decades of experience.Yeah, as I read and discussed, I noticed you cannot have certitude with SEA or south in general, but I really like SEA and Thailand in particular.
I know there are other options, but I don't want to live 6months a year in Dubai for ewample. no way.
Neither in carribbean island, neither in Panama etc.. (neither Cyprus too).
If you read my posts, I mention that I want to take distance with Europe, but till now my set-up works properly with NHR portugal (and prior in Malta) : I have only passive income (dividends, interests), mostly my wealth came/come from capital gains and I also have some international real estate income (where i pay the rental taxes in the country where the flats are located).
As I said I am ok to spend at least 180days a year in Thailand if necessary, I was just asking how Thailand considers you if you stay one year like 175 days or even 179days in any particular year ? As the 180days+ seem the ONLY condition to be (or not) thai tax resident.
I Just went back last week in Europe from 4 months in Asia (mostly Thailand : 105 days already this year).
I plan to go back after september there, mix Thailand and SEA till the end of the year, without reaching the 180days+ for 2024 (and keep my NHR portugal tax scheme until this 2024 tax year).
And from 2025 calendar year, switching officially for Thailand. That's the plan for now
Do you want certainty? Follow and understand this euphemism...
Certainty is like a bulletproof vest. They may shoot at you but won't "end" you. In theory, this sounds great. The problem with this is most people have NEVER been shot while wearing a bulletproof vest. Trust me... you feel like you are going to DIE! You can't even breathe. It's NO fun! Those lawyers, accountants, case laws, jurisprudence, etc., have NEVER been shot, so they are whistling Dixie out of their a*s because they WILL profit from it or their industry will profit from it. It's a taxable event! Those who support or cause taxable events are your enemy!
#RealTalk!
What you want is to hang around where people (in general, governments consist of unproductive and lazy people) are TOO poor to own bullets, much less a gun! You do NOT want ANYONE shooting at you at ALL, regardless of what your lawyer, accountant, and other "pundits" (who will only earn BIG if you get shot) promise you. No amount of ink on paper (some call them "constitution," others refer to it as court orders) will save you from a vicious gun-wielding gang under the ruse of government.
I have several other successful European friends who live "abroad" but visit the continent regularly. I'll give two examples of how they "bullfight" the EU plantation.
(1) Mr. London has a British passport. He regularly flies into mainland Europe and travels through Europe primarily by train, visiting family members on the mainland. He stays in hotels, Airbnb, VRBO, homestays, rents motorhomes, etc., but doesn't visit his passport country.
(2) Mr. Munich has a German passport. Same thing as #1, except he doesn't visit his passport country (i.e., Germany). He does visit the UK, though, since he has NO "link" there.
In terms of your passport country, think of yourself as a Fugitive Slave: Fugitive Slaves in the United States.
In Europe, we have more sophistry and casuistry sugarcoated as "bienséance," so we don't openly call our "indentured servants" with the pejorative noun of "slaves."
Success!
Last edited:
Agreed, although I found that the countries offering the highest degree of certainty are more than often the ones with the highest tax rates. Certainty comes with a price.
Latest Threads
-
-
-
So crypto market is going insane because of global central banks cutting rates!
- Started by erni
- Replies: 1
-
-
-
-
-
-
US company owning an EU company owning an asset. Is the asset really protected?
- Started by PinkCat
- Replies: 3
-
Which countries have disregarded entities (single members)?
- Started by kekmaw
- Replies: 0
