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BANGKOK 19 February 2019 14:02

khunPer

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About khunPer

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  • Location
    Koh Samui

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  1. That is the what the Law says, be happy that they don't also say »and no alcohol sale after Midnight«, because that's also the Law... You also need to follow "no alcohol" when elections, even foreigners and tourists cannot vote, and no alcohol today, because it's Buddha Day, even many foreigners might not be Buddhists...
  2. Only if you use promotion accounts with special rate. A normal fixed deposit of for example 12-month term remains in the same bank book, but for each term period the interest rate might change over time. Same with SCB, K-Bank and Government Savings Bank (I talk from many years experience)...
  3. Yes, each deposit works as a special agreement for the fixed term; i.e. if you deposit 800k baht today, the term is 19th februar 2020 where your interest will de added. If you also deposit some fund for example March 1st, then that fixed period will terminate March 1st 2020. Concerning the 800k baht deposit in a fixed account, the easy way is to keep that balance clean – i.e. keeping 800k baht only and withdraw the annual interest – and keep all other savings in separate account(s). I've been using that method for many years, and it works very well, and the immigration officers are happy, as they don't need to calculate anything; and I'm happy, because I don't need to worry about my deposit. At the moment you can get 1.5% p.a. (or more) that after withholding tax ends up with 1.275% p.a. or 10,200 baht interest of 800k baht 12-month fixed deposit.
  4. Your passport and data will show you had a previous extension of stay on your last Non-immigrant O visa. You'll a new Non-immigrant O visa, as you start on a fresh term, which might mean that you need to leave the nation without a re-entry permit to terminate your old extension of stay, and thereafter apply for a new visa.
  5. At least part of Maenam soi 1 is open for scooters and motorbikes today, but I've not been all the way over the hills to Lamai...
  6. There are lots of possibilities. Might help with recommendations if you unveil in what area you live, and if you have a budget. Like @Tropicalevo said, a number of the five international schools on Samui have kindergarten classes – K1 to K3, where K3 equals internationally Year 1, but also fairly high rates. There are also nurseries for (normally) up to 3 years of age, which can be both good and affordable.
  7. It's not that difficult to stay in Thailand, 400k baht in bank deposit if married to a Thai, or 800k baht in bank deposit if over 50 years old and retired, and if business or work it's possible to get extension based on that showing a reasonable income, same-same like in Denmark where OP and myself originates from. It is one's own decision to follow a dream and move out from one's home country to live permanently somewhere else, and that dream might often require a bit of planning, and savings to fulfill...
  8. Partly, there is a property sales tax, depending of length of ownership. If ownership is under 5 years you'll pay extra 3.3% Business Tax. Normally seller pays taxes, and buyer pays transfer fees, when selling property. Your tax can be calculated here.
  9. Cannot be correct, HM King Chulalongkorn was regent from 1868 to 1910. Wikipedia however says...
  10. Normally it's said that the money shall be withdraw-able at any time, so any bank deposit from where the money can be withdrawn should work. I've had my 800k baht permanent in deposit for years – because it's much more easy then maturing every your and prove it with mixed deposits and withdrawals – and I've been using fixed accounts, normally for 12-month, but occasionally longer. Some of the years I've been shopping around for best interest – but I've never moved to another account less than 3 month before my annual application for extension of stay, i.e. the mature period – and I've never had a problem. You can normally withdraw funds with loss of interest (present period). At the moment I use Bangkok Bank that offers 1.5% p.a. (before 15% withholding tax). It's been mentioned in another thread, that after the new rules, where you always need 400k baht in deposit, you are still allowed to move bank, as long as withdrawal from old account, and deposit in a new account, is made on the same date.
  11. It's about 8 million baht. Having lived so long time in Thailand and knowing the culture, it makes sense to invest to money in Thailand, if you plan to stay here, to avoid foreign currency fluctuation. You can count on a average of 3 percent annually in dividend or spendable outcome when not taking too big risks, i.e. 30,000 baht per million baht invested, or 240,000 baht a year in your case, which equals 20,000 baht a month. Spreading the investment would make sense. There are for example both so-called Fund Books in the banks. A Fund Book is a mutual fund where you have professionals to take care of your investment, but pay a percentage of the invested capital for that service, typically 1% to 1½% per year. Choose funds that pays a dividend, and that invest i Thai market, to avoid foregn currency fluctuation; i.e. don't invest in overseas mutual funds coverings China, USA and like, if you wish a more steady outcome. Some examples of mutual funds can be found on the banks homepages, I'm using, and familiar, with the following, but most banks might offer this service, so it's not a recommendation for a named bank: Bangkok Bank Mutual Fund K-Bank, Kasikorn Asset Management SCB (Siam Commercial Bank) You can also place some of your saving in the SET (Stock Exchange of Thailand) stock market, which you can do online through a bank, i.e. using an online platform, which is the cheapest way to invest, but you have to pick the stocks yourself. You can only buy stocks marked NVDR, as these can be held by foreigners (but without voting rights), and they will pay dividend to foreigners. Looking at the usual parameters like P/E (Price/Earning), and dividend policy, and historically paid dividends (not a guarantee for future dividend payments),you can pick some stable stocks that could pay between 3% and up to 5-6% in annual dividends after 10% withholding tax. Dividends will automatically be transferred to you savings account. I'm using SCB-online and is familiar with that Thai platform, which is very easy to register – click on "New Clint, Open New Account" and follow the screen instructions – and fairly simple to use; but there are others, and they are probably equally good. Another possibility is to look into bonds (could be via the bank's Fund Books), or high interest long-term fixed accounts, or a combination, and simply use the savings over time. The calculation is expected life-time combined with interest, or value increase of Fund Books investing in bonds – they don't pay dividend, but are accumulating, and you don't pay tax of the accumulation – so the question is, based on the age of 64, how long a period the savings are going to cover, and what inflation rate you wish to be included? Extremely simple calculation could be 8 million baht over for example 30-years (8,000,000/30 plus some interest), which could pay in the in the range of 300,000 baht a year, or around 25,000 baht a month. But you might wish another order, with periods of higher payouts, and periods you might need less money. Hope this can help you, you're welcome to ask questions about details, if you're interested...
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