jphasia
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Posts posted by jphasia
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10 hours ago, Presnock said:
If you meet the requirements for an LTR visa, wealthy, whealty retiree, professional..etc (look up requirements for LTR then you could change from your current visa without leaving the country and do so within a month or so. Check it out.
Ok, thanks. I don't know much about the requirements for LTR but I will check it out. I only understand that this is for wealthy people but I am not sure I am part of it. I have good incomes for sure but not sure if it's enough.
As for leaving the country, not really an issue for me. I am travelling a lot for my job and personal trips.
But anyway, thanks, I will check it out.
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6 hours ago, TylerBKK said:
I think the short answer is that you are going to need to reenter Thailand on a brand new visa if you want to go from a retirement visa to a business visa and eventually obtain a work permit. When I went from a business visa to retirement visa I also had to leave the country first and reenter with a brand new visa and start the visa process over again as there was no way to convert it.
And if you have a regular O visa now, then you may not be able to get a regular O visa again in the future if someday you want to switch back to a retirement visa. Most likely your only option will be an OA retirement visa, which also carries medical insurance requirements.
And if you have a regular O visa now, then you may not be able to get a regular O visa again in the future if someday you want to switch back to a retirement visa. Most likely your only option will be an OA retirement visa, which also carries medical insurance requirements.
Why not? If I stop work, they will cancel my work permit and will have few days to leave the country and come back either with Non O or visa exempt and re-apply for 1 year extension retirement as long as I have the minimum requirements (over 50, 800k...)
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1 hour ago, TylerBKK said:
By the way, are you on a regular "O" or an "O-A" retirement visa now?If it is a regular "O", and you switch to a business visa for a while, and then one day you want to go back onto a retirement visa, I believe that O-A might be your only option at that point. And I believe O-A might have some medical insurance requirements. Somebody can correct me if I'm wrong, but that is my understanding.
And when I was on a work permit before, I had to leave the country and come back in on a tourist visa in order to convert it to an O visa for retirement in Thailand. Since the regular O might not be available anymore, you might have to leave first and then obtain an O-A from an overseas Thai consulate if you would ever want to switch back to a retirement visa. Maybe someone else can chime in and reconfirm this though.I am on regular Non O with 1 extension based on retirement (over 50) and multi re-entry permit.
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19 minutes ago, DrJack54 said:
Some posts from ubonjoe in this thread.
https://aseannow.com/topic/1227491-change-from-non-o-to-non-b-without-leaving/
Thanks. Helpful. Actually restarting the process by getting a Non B in a consulate abroad for the purpose of applying a work permit is not really an issue for me as I am currently working in Vietnam while i have the 1 year extension for retirement in Thailand.
The company i working for want to relocate me to Thailand within this year. The timeline will be around July while my retirement extension is due for renewal in June.
My company is a bit slow planning things so I am anticipating a bit ahead. I can imagine asking to start in Thailand in July and told me once I moved that I need to get a Non B outside Thailand.
My registered address in Thailand is Phuket where the extension has been done but I will be based in Bangkok for the work (also BOI company).
I am wondering if I should proceed the retirement renewal while waiting the final move to Thailand with the company (exact date not yet define, July, August or Sep).
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How does it work? You have a non O + 1 year extension based on retirement but you get a job offer in Thailand. Do you need to cancel the existing extension, get a Non B and apply for work permit and extension?
Thanks
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I was in South Korean 2 weeks ago for few days with my Thai girlfriend (I said girlfriend because we are not officially but we have been living together for 18 years already and live in the same house in Thailand).
We also went for the first time to South Korea last September 2023 for a week holidays.
So in Sept we both applied for K-ETA through the official website and got apprpved (mine took few minute for approval as French passport but for my girlfriend took few days before approval). Well all good.
When we arrived at Incheon airport, I let my girlfriend pass first the immigration.
When she gave her passport to the officer, immediately the officer stand up anf shout "Thai passport!". Another officer arrived and asked to follow him to a interrogation room. I then want to follow them but they instruct me proceed immigration for me and wait outside! Immigration check took me only few minutes and then I wait right after the immigration point for my girlfriend. Half hours later, an immigration officer to question me: are you living together? How long? Are living in the house..? One point is that i am working in Vietnam and doing a lot of go and back between Vietnam and Thailand.
That day we flew together directly from Saigon to Seoul. They were very confused why I was pretending living with my girfriend in Thailand but was working in Vietnam...
I started to get inpatient and annoyed and told them at some that if there was problem, that was ok for us and could cancel our holidays in Korea and take the next plane to Tokyo instead...(even we had hotels booked in Korea and return flight from Seoul to Saigon).
Few minutes later, my girlfriend was released, fully cleared immigration. She told me that they questioned a lot (in Thai), she had to show photos of us on her phone (glad she use Google photo as photo storage...) but they were insisting to show them her expired passport (she renewed her passport in 2022). Anyway, finally all good and we enjoyed our holidays.
The K-ETA once approved is valid for 2 years.
So when we went back last month to Seoul, we didn't re-applied for it.
This time, all went well on arrival. No question asked and only few minutes at the immigration check.
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10 hours ago, Mike Lister said:
I was referring to banks that are offshore Thailand, (I haven't had my coffee yet).
Understood. But i am looking at the best interest rates within Thailand only.
What you mean in your previous post is that I rather keep my USD in Vietnam with 0% interest and wait the USD devaluate as long as possible before transferring to my THB account? Instead of keeping it in FCD in Thailand for 6 or 9 months at 5% interest?
Sorry, I am not good at that...
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3 hours ago, couchpotato said:
What are Thai Offshore banks??
Yes I have the same question. Which banks are we talking about?
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On 1/15/2024 at 11:32 AM, john donson said:
scb and krungsri give like almost nothing for fcd... no difference for resident or non resident... just like I remembered
that is why the 5% was appealing as the max interest rate in my home country is 2.8% and not worth sending my Thai money back as I will lose a whole year of interest for the transfer in bad exchange rates and fees...
I just saw an official announcement from Krungsri and also on their website offering now fixed deposit on FCD 6 or 9 months at 5.1% / 5.2%.
I am banking with Krungsri already, having a standard saving account and MTD account at 1.5% for maximum 2MTHB.
I am working abroad, paid in USD. So transferring regularly my USD to my Thai account.
Is it worst to open such FCD account? I have cash available, not by converting my THB but transfering my USD from Vietnam where I am working. There are no interest for foreign currencies in Vietnam bank accounts.
The maximim deposit for these Fixed deposit is 15kusd.
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20 hours ago, TerraplaneGuy said:
Thanks didn't see your comment until now. That's all good except that the International DP is for 1 year only. What a silly limit. So you have to go back every year, and it might expire while you're still travelling abroad. Do you know if you can get the International DP at the Dept.. of Land Transport in Koh Samui?
Yes Klonko above mentioned that his DP is valid for 3 years. I rechecked mine and confirm it's 1 year validity. It might depend on DLT offices.
I don't know about Koh Samui as I am doing in Phuket everytime.
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5 hours ago, sometimewoodworker said:
That you have no assets in Thailand is irrelevant. It is proposed that any income brought into Thailand will be taxable.
I have no assets that provide income in Thailand, however I bring in enough money annually that I could be taxed. There are ways through careful planning to reduce, or possibly eliminate, taxable income to under the tax threshold.
Got your point. About Assets in Thailand, I misread your previous post as I understood "any assets sold in Tax year", you were refering to Assets in Thailand.
To be clear, I have no asset at all wherever in Thailand or anywhere else. No asset under my name. But yes, I am sure I bring in enough money too that I could be taxed.
Thanks again
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6 minutes ago, sometimewoodworker said:
Not yet, it is a proposal.
Its a proposal so can change before implementation, if it ever is implemented.
The proposal is for anything considered income, this includes capital gains, dividends, pensions, rents etc and the date is calendar 2024, and no, at the moment there is no suggestion that it will cover anything prior to calendar 2024.
- Any assets sold in a tax year, which are at a loss, cannot be used to offset a gain achieved by selling an asset with a gain in that tax year
However (and this is my guess so certainly may be wrong) if implemented later than January 1st 2024 it WILL cover anything from calendar 2024.
This is why I, and anyone who believes that it may (or will) be enforced, is crystallising my current capital gains by “bed and breakfasting”. If the term is unfamiliar a little research will assist. This is producing a nice revenue bump for investment advisors specialising in long term Thai clients.
Thanks, your reply is very clear and answered my questions.
Yes, i checked google about the "bed and breakfasting" and know i understand it.
Officially, I have zero asset in Thailand. I have a house but it is under my son name ( he is both Thai and French), F&B businesses but 100% under my girlfriend (Thai) name (live together for 18 years but not marry). Even cars, motorbike... are under her name.
The only things I have under my name are several bank accounts and several Thai Credit Cards.
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Sorry to pop up here but I have seen several posts on this topic about taxable incomes to Thailand but i can't find the details:
Is it official?
Who are concerned?
Based on what?
I am French, not working in Thailand. On retirement extension.
I am actually working in Vietnam, having a local contract, paid in USD in a local bank account. My Vietnam taxes are paid by my employer.
Even if i am back to Thailand very often (basically 2 weeks in VN, 1 week in Thailand), i doubt it's make 180 days in Thailand.
I transfer money from my Vietnam account to my Thai bank accounts regularly ( basically on monthly basis) as I have no intention to stay in Vietnam forever.
I have Credit Cards issued in Vietnam and Thailand.
Am I concerned about that?
What would be the rate of this tax, when it is effective and is it retroactive?
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I have been banking in Thailand since the 90's. First account was open in Bangkok Bank in Bangkok. That time was on tourist visa or visa exempt but that time was easy to open an account.
About 20 years ago, while I was working in Thailand with work permit, I got a credit card from Bangkok Bank and an American Express gold cards directly from American Express Thailand. Both not secured (didn't need to block any amount to secure the card). 2 years later, I stopped my contract in Thailand, so lost the working permit and worked abroad since then. So never got any new work permit since that time. Both my Bangkok Bank and American Express have been automatically renewed since. Never been asked to deposit any amount in account to secure the card. Few years ago, Bangkok Bank even issued a 2nd Credit Card not secured too. I am not married officially but live with my Thai girlfriend for 18 years now. I requested a supplementary card for her to American Express few years ago and she got it and been renewed automatically without any question or issues.
All these years on visa exempt, tourist visa or 1 year Non O based on my son (from ex wife).
Of course, during all these years, i changed several times passports (renewed because expiration date or renewed because full as I travel a lot) and always updating the bank with new passport details and visa status.
Of course, I have always paid the credit card statements on time, never had any debts and recieving comfortable incomes from abroad.
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23 minutes ago, Celsius said:
So as is the case with most insurers here everything was nice and great as long as they were collecting payments?
Correct
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In case someone has good advise:
I have been with Aetna Thailand since 1999 for health insurance. It started as Bupa Blue croos Thailand that time, then became Aetna Thailand and recently this year became Allianz Thailand.
I have been on Premium IPD 5MTHB coverage since 1999, renewed the policy every year without any issues.
During the period as Bupa, I was based in Bangkok and so was renewing directly in Bupa office in Bangkok.
Later, I moved to Phuket and I was requested by Aetna to go through a broker in Phuket for anything. I couldn't understand really why because Aetna had also an office in Phuket.
My sister moved about 20 years ago to Thailand and I advise her to get an health insurance as well. She followed my advice and opt for the same insurance and plan as me.
The years passed with any issues about insurance, renewing the policies on time every year.
Since the last 4 years, my sister having financial difficulties, I have paying her premium myself for her to the broker. As the renewal are the same date for both of us, I am proceeding a global bank transfer for both of us to the broker. No issues. After the payment, the renewed policies been delivered by the broker later. Until this year!
The renewal for both policies are in April and got the notification for renewal by the broker in March. At the meantime, I got a notification directly from the insurance that Allianz took over Aetna but everything will remain unchanged. So I proceeded the bank transfer for both policies in March as usual. Of course keeping the necessary payment evidences.
It happened that in the beginning of the year, I had some health issues and was advised by the hospital (Bangkok Phuket hospital) to proceed some costly test (MRI...). After confirmation from the insurance that will cover (in Marsh) to both directly the hospital and me, i had an appointment scheduled for end of April for these tests.
When I showed up for this appointment, the hospital informed that the insurance won't cover these tests as I didn't renew my policy. I trier then to contact the broker but he was not reachable. After multiple calls to the insurance directly, they finally confirmed that they will cover the agreed test and advised me to go directly to Allianz Phuket office to collect my renewed policy.
I got my policy and asked the one from my sister but they told it was not ready yet. I found it weird as the renewal are the same date and the payment was done at the same time for both policies.
Time passed and as of today, my sister still didn't get her policy. Asking Allianz, she has not evidence that she is still covered. She has been advise by Allianz to fill a complain at the police station as there seems to be a lawsuit against the broker who of course disapeared.
My main concern, apart that if she has any heath issue at the moment, she is not cover but what will happen if she want to continue with Allianz later? Will they just accept to renew her policy or consider as new client and might not accept her due to health conditions and age (57)?
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4 minutes ago, gamb00ler said:
You had 2M deposited for 4 months or 1/3 of a year.
You should get 1/3 * .015 * 2,000,000 = 10,000฿
On the 25th of each month your should get approximately 1/12 * .015 * 2,000,000 = 2,500฿
On the funds above the 2M you will be paid 1%.
Leaving the 2,500 deposited will earn you 1/12 * .01 * 2,500 = 2.08 ฿ extra each month.
Thanks! Better than nothing...:)
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I don't understand how it work either.
I opened an EZ account on 17 June and within the next 10 days tranfered money on it to reach 2M. So since 27 June, my balance has been 2M. Didn't touch it.
On 25 Oct, the interest was paid for an amount of 10,002b. I transfered this amount to my normal saving account to remain at 2M balance on my EZ account.
As they will pay the interest now on monthly basis, should i expect to get around 2,400b on 25 Nov?
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1 hour ago, Klonko said:
The validity of my international Thai DP from 2023 is 3 years (Chonburi)
Interested! Mine, issued in Phuket always been 1 year. Let me recheck the last one I got this year, it might have changed and I didn't notice it
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On 10/18/2023 at 5:23 PM, TerraplaneGuy said:
I'm planning to apply for one of these permits at DLT in Bangkok. I see the list of required documents, and I wonder:
- does "5 years Thai driving licence" mean there are still 5 years left before the licence expires? If so it's a problem for me since mine expires in a little over one year.
- one of the required documents is "work permit" - but I don't have one, I'm here on a retirement visa/extension. Is that a problem?
- is there an expiry date on the international permit when they issue it?
- It mean that you are eligible to get Thai international DP as long as you are eligible to get a 5 years Thai DL. The validity of the international Thai DP is 1 year only. So as long as your 5 years Thai DL is valid, you can apply for the international one.
It might depends on the offices but for me, in Phuket, as long as you have a valid 5 years Thai DL, there are no other requirements (only regular copies passport, visa pages...and certificate of residence from immigration).
No test, nothing, just provide your original 5 years Thai DL + requested copies and photos (no digital photo on the international DP)
I got few Thai international DP in the last years, being on Non O 1 year multiple entries or the last one in June 2023 on Non O + 1 year extension retirement
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I bought a house + land in Phuket a bit more than 20 years ago.
I used a local lawyer that time that advised me that the eaiest way was to setup a local limited company (using thai nominate shareholders...).
So the land and the house became own by the Thai company.
The seller was a foreigner and the land was own by his Thai wife.
It was a big land and his project was to split the land in 6 parts, build 6 houses and sell them separetely.
My house was the first built but as I wanted a garden and privacy, I bought the house and the parcel next to it.
Later on, he built the remaining houses.
Few years later, knowing Thailand and not comfortable with this purchased using Thai limited company, I contacted another lawyer and asked to transfer the property ownership to my son (Thai / French) who was less than 10 years old that time.
My son them became the Ta Bien Baan master and the chanote was transfered to his name. He is since then the sole owner of the full property being a Thai citizen.
During the chanote ownership transfer, my lawyer asked to come to the land department as they were holding transfer, asking for unpaid tax (garbidges collections) and the amount to pay (taxes unpaid + late penalties...) was 300,000b. I understood what it was really and compare to the property value, I had no choice than pay.
The houses next to mine were bought by foreigners. They bought the houses on their names, but leasing the land for 30 years. They actually don't live there but rent out their properties.
The seller (foreigner) of the property passed away few year ago.
About 4 years ago, I saw a sign placed in the front of these properties from a Bank and the properties being sealed.
I asked my wife what was it about.
The wife of the seller, once her husband passed away, made loans to the bank and used the lands as collateral. She didn't pay back the loan and disapeared...
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I did that with Bangkok bank.
My original account is in Phuket but I was in Bangkok often and deposit regurlary cash to my account. As I was depositing the cash from a Bangkok Bank branch for my Phuket branch, I was charged for the deposit. The branch in Bangkok advised me to open an account with them to deposit the cash and use the app to transfer to my Phuket account as the transaction is free. They didn't ask me any supported documents except my passport and my Thai driving license. My registered address is in Phuket. I was on Non O 1 year ME that time.
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19 hours ago, Lacrimas said:
Thanks this is the information I was looking for, did you also use it for your extensions at immigration? I heard it is enough to show your balance from the phone's screen at some IOs
No. My 800k for the retirement extension is on a separate standard saving account (with passbook) because the extension was done before i opened these digital accounts (1 month later)
Before the renewal extension next year, I will ask the immigration if this digital account with bank book is acceptable. I have actually more than 800k in these digital accounts. But they might refuse because it would be only 11 months showing the 800k even if i show them the standard saving with bank book with the 800k untouched.
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I opened 2 digital saving accounts (no passbook) earlier this year.
1 with SCB (EZ saving account)
1 with Krungsri (MTD account).
No issues at all.
Background: I already have standard saving account (with passbooks) on both of these banks and the related mobile apps. I am on 1 year retirement extension.
Went to the branches and enquired for these digital accounts. Provided my passport (SCB requested only my Thai driving license). They setup the account for me and added it in my bank app.
It gives a bit more interests (1.5% for maximum 2M deposit). No passbook and if i correct, you can't withdraw at the counter and no debit card attached to the digital account. However, you can deposit online (from any account) and transfer Online to other accounts.
I have account in Bangkok Bank too but didn't try to open a digital account with them. But I saw on their website that it is limited to Thai only.
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Switch from 1 year extension based on retirement to work permit
in Thai Visas, Residency, and Work Permits
Posted
Yes, I am thinking the same. Unless they change drastically the requirement for Non O, I don't any issues even if I need a trip outside to get a new Non O and restart the process.
Again, my original question was if I am already on Non O + 1 year extension, do I need to get a non B outside Thailand to proceed the work permit application. And i understand from the previous feedback that yes. As I am in Vietnam now working for the same company, i will need to remind them this point before they ask me to relocate permanently to Thailand.