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BANGKOK 20 February 2019 06:43


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Everything posted by ThomasThBKK

  1. yeah sure if they want to bugger off every foreign joint venture here, crash over the whole economy and destroy the whole real estate market making all land and thai property companies pretty much worthless and bugger off all thai hisos while doing so .... they can do that.... Meanwhile WW3 can start and we can be as likely bend over, all these nightmare scenarios can happen everywhere and are so non sense to even discuss here...
  2. No the landowner has no rights to do anything to the land, you are the only one that has a right to uwe the land. That's the whole point of the usufruct... And if he sells the land the new owner or the bank can't do shit either. And no one will give you money for it anyway... Sent from my LYA-L29 using Tapatalk
  3. The majority of shares of course but not the majority of voting rights aka preference shares. Thailand supports class a and b shares and the dbd registers them without issues.... It's standard business practice... You don't put the house in there as a company asset or u would lose money while selling of course to the thai share holders... Ahh i stop, doesn't make sense to discuss here anyway... Yeah and freshfields prolly knows what they do... The guy just described it incorrectly. Sent from my LYA-L29 using Tapatalk
  4. Yeah i was self employed in germany and i never paid a cent into the state pension. Did my own private retirement preparation, basically there's no way to ever get a german income affidavit for people like me afaik as they base everything on the dull state pension system.
  5. Yes and besides that u dont even need to use ur gf as a shareholder - use a business partner, thai-foreigner friend, account or whoever else... yeah thats true, i meant stuff that u buy after u are married, that could easy be marrital property. you would need to proof it's a personal asset, might work if it was paid with an oversees wire in your name. the main issue is that if the land department notices your wife is married they force u to sign a document that states that her money was used to purchase this - and they are not flexible on that bs document... better to not have your wife listed anywhere in the shareholdings at all
  6. Uhm normally if you are over a certain treshold u pay monthly or quarterly so they are more sure that you pay at all, this is based on other countries knowledge tho. If you pay monthly u pay 1/12 of what you would pay at the end of the year. You don't pay more , just more regularly and only on the last months profit or the projected profit of the average month. The percentage doesn't change, if u pay 20 or 25 percent in taxes yearly its still 25 percent just on a monthly base. Sent from my LYA-L29 using Tapatalk
  7. If you official turnover is less than 1.8 mio thb then u can register it as a small business with the dbd in your wifes name: https://www.dbd.go.th/dbdweb_en/ewt_news.php?nid=3974 And then you are VAT exempt as long as you dont "officially" go over that amount (this is turnover tho, not profit). That's all you need to do in this case afaik. I am not sure about withholding tax i think u need to pay half of the expected annual taxes every 8th month in the year. Work permit would need a limited company with at least 4 thai employes for every foreigners, that's prolly not worth it Sent from my LYA-L29 using Tapatalk
  8. Nothing is illegal if setup correctly when it comes to holding structures, preference shares and usufruct. All that is backed by thai law and multiple decisions in the Supreme court. There are multiple things that are illegal as having a nominee structure, a company that just exists to own land... But all these things can be done correctly and every big company is either using that or a BOI. Usufructs have also been challenged in supreme court multiple times and it was ruled they are totally legitimate and can be issued for lifetime to foreigners. There's a lot of half truths and just factually wrong infornation in here. BUT none of this helps if you are married already - especially without a prenuptial agreement. All your company shares and your wifes will be owned by both of you and so is the usufruct, the usufruct could even be cancelled if you are married already. You are out of luck if married if you want to protect your after marriage assets from your wife imo.
  9. How is that even possible after you got the visa already in your passport... It never happened before on any visa. Extremely unlikely. You guys are just so grumpy and fear mongering and will never be happy no matter what solution one presents to you. And the you guys recommend countries like Cambodia and Laos where you don't even know if the country will exist in 20 years [emoji23] Sent from my LYA-L29 using Tapatalk
  10. No it's not: https://www.thailandelite.com/at-your-service/card/elite-superiority-extension-membership?locate=en Try again dude that can't even use google.
  11. There's no point. For 50k a year u get a 20 year elite visa (1mio thb) without all those problems.
  12. More Philippines shilling, we get it but we don't like presidents who throw people out of helicopters
  13. The thais do a lot of stuff. There are dozens of good thai accountancts and tax professionals who will tell you the same i did. They will even use the same wording. You wanted to hear the facts. You got them. Companies are way more tax efficient, you can better deduct ur expenses and the profit tax is also max 20 percent. Also you get rid of most liabilities which is especially helpful if you are ever near bankruptcy. If you intend to pay taxes how the law wants it, a company is more tax efficient than personal income declared taxes. Like the thais say, up to you, up to you I just don't know why you even ask if you aren't interested in the truth. You are paying someone to give you wrong advice, you might as well just keep the money to yourself.
  14. That's wrong. It makes a giant difference. Every shareholding after marriage, everything you buy while Married she also owns and vice versa. It's a giant legal pain in the ass. Also there are more than limited controls over a thai company, preference shares and holdings are a thing and so are usufructs and superficies. Not to mention that only a director can sign sales contracts and land is worthless anyway if a usufruct is on a chanote in your name.
  15. You would need a lending license to legally lend money to someone in thailand on a commercial basis. So no these short term loans for immigration purposes are usually not legal.
  16. I am just trying to help you, no need to throw the bar stool attitude at me Just check the official government sources: http://www.rd.go.th/publish/6045.0.html All income above 150k thb has to be taxed with at least 5 percent, the higher you go the more taxes you pay it's a progressive tax sheme. Do u really think you can legally esrn 2 mio thb tax free here?? That's over 50k usd, far more than any country would allow you to earn taxfree. The limit in germany for example is 8k euro in profits. Do you want to know why she told you the 2 mio thb limit and the 400 transaction limit? Because of this new law: https://www.bangkokpost.com/news/security/1587610/new-tax-law-prompts-suspicions-of-snooping This law basically means that banks will report you to the aml and tax authorities if you are over the limit. Do you want to know what she basically is trying to do? She's telling you not to pay any taxes and break the law and to not get caught you should stay under the radar by not doing any more transactions as mentioned above. Of course that's also why she told you not to incorporate a company, because then the tax authorities already know you are running a business. You, well your wife, will be liable for all this and thr crooked account doesn't give a damn if they ever audit you. So that's why the tax accountant wants you to pay him instead of paying the tax authority. He/she is basically stealing your money for telling you how to break the law. Don't believe me or the thai government? Ok but maybe you believe KPMG: https://home.kpmg.com/content/dam/kpmg/xx/pdf/2018/09/thailand-2018.pdf&ved=2ahUKEwjk1oDyrr_gAhWLMI8KHRu1Dz0QFjANegQIChAB&usg=AOvVaw1MdxWsS2EOVNBLxS8DkWf3 There's income tax guidance guides from all big 4 companies and lawyers like tillele and gibbins available on google. Just Google for thailand income tax guidance.
  17. We have many of these career politicians in germany that never worked a single day in theit life. They are far away from the struggle of an average german. I would argue that every self made businessman who takes cares of employees is a better fit for the job as he's way closer to the people. But with self made i mean people like the above mentioned and not the ultra rich thai hiso who got his/her money from his daddy.
  18. Can confirm, used line Messenger service before for changwattana 90 day report as i am too lazy to bring it to the thai elite office. Give him 300 baht for the trip and he is usually back in 2 hours
  19. I hope this comes into effect. A perfect way none of the youth will vote for the current guys in the election... Tourists will for sure love it, coming here to see songkran and not beeing able to get a drink. Must be a TAT approved plan.
  20. It doesn't trigger tax issues abive 400 transactions, it might get your account reported to the BOT as suspicious. Nothing special but newly in thailand. Only an issue for people who scam taxes. Same for the 2 mio thb rule, transactions under 2 mio thb do not get reported automatically ... Once again nothing special. Your tax accountant is a crook. You should run away and get one in bangkok asap. Every info she gave you is hilariously incorrect. Also never ever run a business in a personal name, that's just nonsense and u have all the liabilities... There's a partnership in thailand but it also sucks. Setup a simple limited ay least.
  21. Yeah because losing face here is never an issue right... Why don't you tell him where his mistake is instead of shouting bs here? He still doesn't know and they won't tell him.
  22. Banking in Vietnam is a hassle btw, depositing money is a pain, u need to fill out customs forms and all that shit and have trail of every cent. It's the opposite of thai banking. But i guess he will soon find that all out himself
  23. Vietnam neither has a retirement visa nor sth like the elite visa - not sure why you would think its the path of least resistance. healthcare sucks there, traffic and air pollution is worse than thailand. I like going there for holidays...but thats it...Even as european u get only 15 days visa exempt.
  24. In a hotel only the management jobs can be done by foreigners. The rest is a restricted thai profession. I am not sure if/how the foreigner have to proof that he's qualified as a manager. I guess these foreigners you see there on big hotels are mostly managing the the reception stuff, kitchenmanagers etc and thus get a work permit. Sent from my LYA-L29 using Tapatalk
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