Thailand/countries to live off crypto

[wellington]

Very interesting. I wonder if that precedent would hold in a tax case (at least your experience shows some consistency in criminal cases) and how/if other countries have and will rule on this.
Thanks for sharing.

Based on my discussions with the revenue department, in my case yes.

 

[wachtwoord]

It's 12 words....

And you dare trust others with those words? Yes your multi-sig solution is a problem too as you lock yourself out without the cooperation of another. That requires trust, and when trust isn't required it's always a mistake.

 

[wellington]

https://www.thephuketnews.com/phuket-exchanges-raided-in-b14bn-crypto-network-bust-96071.php

 

[Zensurfer]

What about El Salvador?

 

[cryptofriendly]

If Thailand is too difficult, choose any neighboring country and cash out at physical shops, they are not that hard to find.
Or just open a bank account and do P2P, or even combine them and do both. The fees are minimal.

For example: P2P USD from local bank to ->USDT cost today 0.18% (would be 0.1% but I dislike merchant KYC), cashing out at physical shop I get an exchange rate that's 1% higher than when exchanging dollars in cash. I haven't used an ATM for a year now (I dislike giving 2% fees plus ATM fees to the banksters). Instead I just send it from the bank straight to a P2P merchant, receive USDT and cash out locally. Practically, I even make 0.80% profit every time I do this to fill my wallet with fiat money.

Oh, coming back to Thailand: when entering the country one is allowed to bring $20,000 in cash per person without any SOF. I guess it should be sufficient to cover any living expenses for 2 months for most of the people, even >1 year for some.

Disclaimer: no financial or tax advice, do your own research, everything is just imaginary for amusement purposes.

 

[Mercury]

Oh, coming back to Thailand: when entering the country one is allowed to bring $20,000 in cash per person without any SOF

It's $15K equivalent in/out without customs declaration according to BOT:

Bringing into or taking out of Thailand baht banknotes in an amount exceeding THB 450,000 or foreign currency banknotes in an amount exceeding USD 15,000 or its equivalent requires a Customs declaration when entering or leaving the country.

 

[cryptofriendly]

It's $15K equivalent in/out without customs declaration according to BOT:

Bringing into or taking out of Thailand baht banknotes in an amount exceeding THB 450,000 or foreign currency banknotes in an amount exceeding USD 15,000 or its equivalent requires a Customs declaration when entering or leaving the country.

Thank you for that, so many sources quote 20K, even their embassy in London.

https://london.thaiembassy.org/en/publicservice/84708-bringing-currency-in-and-out-of-thailand

But the customs rules confirm your figure of 15K, one learns something new every day.

http://ccc.customs.go.th/cont_strc_...edure_161208_07&current_id=14232932404f505f46

 

[Mercury]

Thank you for that, so many sources quote 20K, even their embassy in London.

In Thailand the most reliable and up-to-date information is always from the horse's mouth.
In that case Bank of Thailand responsible of Exchange Control Regulations.

https://www.bot.or.th/en/our-roles/...ion.html#accordion-89d74b5d26-item-394b0956bc