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khunPer

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Posts posted by khunPer


  1. I just passed by Chaweng this afternoon, seems like not much change since I walked the beachfront a few weeks ago. This time I just drove down the beach road, but all the resorts having entrance by the road, i.e. the major resorts, and the ones you can peek into like Ark Bar and Al's, are still closed with one exception only: King's Garden has just reopened, the sign in front says "Open 7/7". Chaweng Garden Resort have been open for some time, as I've mentioned in a post before, and also Sala further north – the never closed down – whilst The Library that stayed open in the beginning and closed later is still closed.

     

    Certainly not "all" has reopened...🙂 

    • Like 1

  2. 5 hours ago, kingofthemountain said:

    A risky bet that i don't recommend to take if you want to be safe and secure

    That was not part of OP's question, but the risky part is mainly the time it takes to sell land, because in general the value, and thereby price, of land goes up; there are exclusions of course.

     

    Let's say you bought 10 rai for 50,000 baht a rai, i.e. ½ million baht, and wish to sell it after 10 years. In average your land shall have doubled it's value by that time. How long time will it take to find a buyer that can come up with 1 million baht in cash?

    • Like 2

  3. 13 hours ago, Birdman said:

    Your home is Menam? Saree, Santiburi, W, Paradise, Fair House Villas, Coast, Napasai ... are not open yet? 

    I can't see around the bay-corner to Napasai, and I'm not sure about Fair House Villas, but Mitska Wan might be open (there are light); but all others seem closed and the ones I pass on my daily beach walk are indeed extremely closed, together with some unnamed more affordable resorts; however a few affordable accept guests for rooms, but not fully open, so no hotel restaurant service.

    • Like 2

  4. 23 hours ago, kickstart said:

    A parcel  of land for sale just around the corner from us ,been for sale a while now ,road frontage ,by far not the dearest parcel,in the area.   

    RIMG1473.JPG

    24 rai and 95 talang wah, almost 24 and a quarter rai, i.e. 38,780 m², so around 204,000 baht per rai.

     

    Road-front land is normally higher priced, but looked at for rental for farming it's not the best investment, pay-back rate in the area between 0,5 percent and up to maximum 0.75 percent a year. The investment is future price increase in the land price.

    • Like 2
    • Sad 1

  5. On 7/7/2020 at 5:43 PM, marc26 said:

    But if we bought a large parcel of land and leased it for farming, does anyone know what that makes? I don't want the hassle of dealing with leasing land if it doesn't make sense financially for me.

     

    Thanks for any info.........

    If it's good land you might get 1,000 baht to 1,500 baht a rai (1,600 ­m²) per year; in some areas/cases the fee is as low a 500 baht a rai.

     

    Some times the rental fee is not money, but a share of the harvest, so you might need storage space for rice, or insist on cash.

     

    You can as a general hand-rule count around 1 percent of the buying price as yearly rent for farmland, so looked as business then farmland for rent is not a good one. However, land prices normally increase, so over time you make money just keeping the land and later sell it, or just see the rent-percentage rise a bit, but often less than the land value. If you can find some really bargain priced land from someone in urgent need for cash, you might be able to get as much as up to 3-4 percent in annually return.

     

    Normal rental deals are for 3 years – which is the legal maximum without registration as lease at the land office and paying tax – and renegotiated, or just renewed, for another 3 year after the first period ends. If used for sugar cane – or other crops with more than one year growing period – instead of rice, it need to be 3-year agreements. Normally the fee is paid annually after the harvest; the payment date can vary depending of selling time for the harvest. Often a rent agreement will stipulate than the renter pays land-tax, and the renter might also be eligible for any support based on farmed land-size.

     

    If you – or rather your wife – have a 25 rai land size you can normally make between 12,000 baht and up to around 25,000 baht a year; if you make more you are very lucky...🙂

    • Like 1

  6. 5 hours ago, huberthammer said:

    Does anybody know what the latest requirements are for 90 day reporting in person? Yes, I know about the amnesty but want to avoid doing it once the amnesty ends and immigration offices will be swamped with all the people with WP and Tourist visas that have expired.  I can't do it online as it will be my first time doing it in Samui (oh the great times when travelling was allowed and easy ....) TIA

    Normally on Samui we just go to the immigration office with our pasport and a piece of paper with the address, get a queue-number for 90-days address report at the check-in counter, and it's done in short time.

     

    Why can't your do it online, have you tried?


  7. 6 hours ago, thaibeachlovers said:

    I hope your "wealth" isn't based on shares. Remember 1987 and 2007/8.

    Thanks for you concern, but I managed to get through both of them crisis without any real problems, and also the dot-com hot air balloon.

     

    If your investments are long term, and you are not depending of cashing capital out for ongoing expenses at the wrong time, stock has always come back up. However you might need to take care of the portfolio keeping the "right" stocks at all time; meaning trying to keep as few loss as possible in the portfolie. Sometimes it's probably pure lock – or perhaps there is something more between Heaven and Earth materializing visually in my crystal ball in January saying: »Sell all air traffic stocks«...:whistling: – I think all investors loose at some point, and gain on others, but it should hopefully sum up positive.

     

    Looking over a 100 year period the US-stock market had an average gain of 6-7 percent per year. If you keep the outcome in the market, it means that your portfolio doubles in value every decade. Worth considering when saving up for retirement, not making you rich, but might make your hard earned savings worth a little more than the inflation, when you are going to enjoy your otium, for example in Thailand...😉

     

    The trick is to "beat the market", but that might be difficult, even for professionals, but a few seems to manage to do it – sometimes I dream I'm one of them, sitting by a beachfront pool surrounded by beautiful girls bringing me cool drinks...😎 – but unfortunately I always wake up to the hard realities of normal life...🤥


  8. 2 hours ago, Birdman said:

    All the bigger hotels are also open now. Last Friday no chance to get a car ferry to Don Sak without a reservation. PG now with big Airbus coming in, not Dash. Also flights to/from HKT already since a week.    

    Not "all", because all the big ones that closed on "my" beach – and the smaller ones also – are still closed: however some of the smaller resorts might open a section in a week-end if there's demand enough for it.

     

    Where do you stay and see all big ones are open?

    🙂


  9. On 7/6/2020 at 9:52 AM, yuyiinthesky said:

    While the poor get poorer, the pandemic seems to be good for the superrich:

    I'm very plain ordinary, so I presume it depends on your source of income, and how you have placed your assets; for example in a stock portfolio.

     

    My home-country savings deposit is 13 percent up since January 1st by the end of last week (July 3rd) – data is calculated weekly – and my retirement portfolio is up by 17 percent...🤑 

     

    My Thai SET-portfolie is however down by almost 3 percent...😭

     

    Unfortunately I don't have any Amazon og Ali Baba stocks; I thought that train had passed already...🤥

     

     


  10. I don't know if there is something later than this, the page is dated 26 June 2019...

     

    Quote

    A tax exempt threshold of Baht 10 million shall apply to buildings owned by individuals, where they are not the land owner, that are used as their place of residence, if their names appear in the house registration bookon 1 January of the tax year. By definition this would include a condominium unit.

    Source: "Tax Updates: New Property Tax Law in Thailand", which page also mentions the percentages for taxation etc.

    Quote

    Tax rates have been announced for 2020 and 2021. For example, for a condominium unit owned by an individual that uses the unit as their place of residence and their name appears in the house registration book, the tax rates are:

    table-final-2.jpg.aspx?lang=en-GB&width=

     

    • Like 1

  11. The Bent Pyramid about 25 miles south of the Great Pyramids however clearly has eight sides...

     

    Bent-Pyramid-Dahshur-92-copy.jpg?fit=170

     

    The official explanation is that when the older pyramid in Medum collapsed during the construction of farao Sneferu's pyramid, the angle of the sides was changed, and there the bent shape. This is waht is left of the Medum pyramid...

     

    26466204637_ede09738fa_b.jpg

     

    This 3D schematic shows the original outline; first a tower or step pyramid was build, and then the sides and angles messered from the top, it's the inner tower that still stand...

     

    W9WSmC5S_HHdOJdNAqUrNzxIpS_KNiy31Gribbiw


  12. 6 hours ago, Oxx said:

     

    I believe this is incorrect.  According to KPMG:

     

    "Interest, dividend, and rental income derived from sources outside Thailand by resident of Thailand are taxable in Thailand to the extent such income is paid or remitted into Thailand within the same calendar year it is received."

     

    https://home.kpmg/xx/en/home/insights/2011/12/thailand-income-tax.html

    What KPMG states does however normally not include dividends that has been withheld taxed in a country with a DTA (Double Tax Agreement), you might need to check the DTA for the country in question. 

     

    For some countries the DTA states that you even can get the dividend tax reduced to 10 percent, following the Thai dividend tax, if the withheld dividend tax is higher than 10 percent, but you might need to apply for it year-by-year – I have to, so I talk from experience, I need to be registered as tax resident in Thailand, and make annual tax return form for the year in question, and apply for certificates for both.

     

    For US – the origin of the dividend in question – the DTA says in Article 10...

    Quote

    1. Dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other State.

     

    2. However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a resident, and according to the laws of that State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so charged shall not exceed

     

    a) 10 percent of the gross amount of the dividends if the beneficial owner is a company which controls at least 10 percent of the voting power of the company paying the dividends; or

     

    b) 15 percent of the gross amount of the dividends in all other cases.

     

    This paragraph shall not affect the taxation of the company in respect of the profits out of which the dividends are paid.

     

    However all other income is income-taxable in Thailand if transferred into Thailand during the same calendar year as it's earned, but again depending of the DTA some income might be excluded. Many states for example also exclude retirement pensions, even the WTO-model for DTAs says that retirement pension is taxable in the country of tax residence. You might see the expression in DTAs like "...can be taxed in both contracting states", meaning, that if one state tax it, it cannot be double taxed, as there is a DTA.

    Edit: Link here to PDF-download of all present DTAs with Thailand.

    • Like 1

  13. On 7/3/2020 at 6:31 PM, corkman said:

    Does anyone have any experience of this?

    15 percent dividend tax is what I pay from US stocks, I'm also non US-resident (I'm European). The bank where I have my trading platform and stock deposit takes care of the approval – it's a Scandinavian bank – I believe it runs for three yeas, and can be renewed; I've got my renewed a couple of times.

    There are no tax in Thailand of foreign dividends where tax already has been withheld, so you can tranfer the dividend into Thailand the same year as it's earned.


  14. 14 hours ago, 4MyEgo said:

    I have to ask myself, do any other countries have no local transmissions, or is Thailand really special, that said if I believe what I am supposed to believe, then that would make me stupid, I think 🙄

    New Zealand have had no new vases for longer time than Thailand so far, NZ also had, or still have(?), very strict border controls.

     

    According to WHO a country if free of Covid-19 after 30 days with no new reported cases. According to that definition Thailand should be safe now, as long as borders are kept under strict control.

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  15. 12 hours ago, RichardColeman said:

    Way I understand it it that if you had something prior to marriage, it does not count in any divorce. 

    But, what happens if you say sell the Bangkok condo you brought previously for 10 million baht before being married and invested it in say 2 condo in Pattaya that for argument sake cost 5 million baht after you were married. 

     

    Now you invested your own money and bought the Bangkok condo and if divorced your wife would have no claim I guess as before marriage.

     

    But , would your wife get 50% of the condo - 5 million baht - if your original investment had been changed into something new ? Basically can you get nailed for changing your asset into something different after marriage. She could argue that whilst the money used was originally yours, the condos were bought AFTER the marriage and therefore an asset of the marriage.

    Thoughts, experience  ? 

    Therefore, even Thai law states about property owned before marriage is separate property, a prenuptial is always a good idea, and for example include words like "a Bangkok condo, or whatever might replace it".

    However, there might be clauses that already takes care of that. I read in another thread a post saying, that inheritance during a marriage is not considered common property.

     

    In my home country a Last Will might include that inheritance, or whatever might replace the inheritance, cannot be common property in case of marriage, but shall always remain separate property. I use the same wording in my Thai last will, in case I should not be able to use everything myself...🙂


  16. I've often been dreaming about making a kind of Great Pyramid replica, but higher than 9 meters, an at least 1:10 replica so almost 15 meters or more high. However, in my visions it would a nice finish, and more authentic inside structure, the latter just in case pyramid power exists – I'm curious, but also skeptical with both legs solid planted on the ground – experts says it has to in the correct internal position to gain full pyramid power.

     

    Anyway a nice try from the Russian couple, but not one like that I'm dreaming about having in my garden when I win the Euro-Lotto jackpot; lack of same is mainly what have held me back so far to materialize my dream...🙂

    • Like 1

  17. I use both Bangkok Bank and SCB and have foreign transfers to both, I never had a problem. My company also use SCB and have foreign transfers directly coming in. Normally cheap bank-to-bank SWIFT-transfers from Europe usually takes three bank-days.

     

    For my private transfers I began to use Transferwise, it's both little cheaper in total – i.e. compared to various fees and exchange rate, even my Scandinavian bank has a very favorable Internet bank option that I use – and funds are available next bank-day. Even a few hundred baht extra in the pocket from each money transfer warms a bit, when the exchange rate to Thai bath is as bad as now...🙂

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