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digeldoop5

Living in Thailand on an elite visa

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Hello,

 

I am 25, originally from and currently in Germany, however have spent 80% of the last 2 years in Thailand using tourist visas. Since I rather not get married anytime soon, don't want to bother with ED visa and so on, I am considering the 20 year elite visa.

I wish to leave Europe for good, cancel my rental apartment here and live in Thailand, at least for the close foreseeable future. I know that 20 years are a long time and I will probably leave to another country at some point. I wish to leave Germany as my primary residence address and live in Thailand on the elite visa. I have enough savings, investment returns and online job possibilities. After all, if things go down the drain I can always return to Germany in X years. Now the issue that arises is that the elite visa is a tourist visa if I know correctly, and I would not be allowed to work on it legally. (not online either!?)

 

My question in short, is anyone here living in Thailand using the Elite Visa and not having any primary residence in another country? If so, did this get you in trouble at any point? Would that make me theoretically a "homeless" nomad and live as a tourist for 20 years? How would I pay tax on my capital gains and co if I live on a tourist visa!?

 

 

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It is a great program. Why not try the 5 year deal first? I pay USA taxes and social security payments and sure it is different issues from Germany but not having a US physical address CAN be an issue for people, even retirees due to stupid investment and banking laws. Online work is a grey area. Keep on the down low no problems. You only bring in to Thailand funds earned in the previous year. My only Thai income is on Thai Bank account interest, and you can claim that that back up to a limit once you have a  tax id number which is easy to get. 

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5 minutes ago, Captain Monday said:

It is a great program. Why not try the 5 year deal first? I pay USA taxes and social security payments and sure it is different issues from Germany but not having a US physical address CAN be an issue for people, even retirees due to stupid investment and banking laws. Online work is a grey area. Keep on the down low no problems. You only bring in to Thailand funds earned in the previous year. My only Thai income is on Thai Bank account interest, and you can claim that that back up to a limit once you have a  tax id number which is easy to get. 

 

Thanks for your reply. My local bank told me I can keep my bank account as long as I keep them up to date with address changes.  By now we have many fin-tech online banks that make life a lot easier so banking is not much of a concern for me. I also have a Thai bank account with some funds already.

 

I read that before that online work is a grey area as all income is generated outside of Thailand.

 

In Europe (at least in Germany) I am not allowed to keep my primary residence here if I am not actually staying here, which results also me not having to pay my income tax here.

 

Another concern is my Passport, if it were to expire, can I just get a new one at the Embassy in Bangkok despite it not being an emergency?

 

I am still unsure about whether I should try the 5 year one first, considered the amount saved if going straight for the 20 year one. That's something I need a few nights of sleep over before deciding 😉

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56 minutes ago, digeldoop5 said:

My question in short, is anyone here living in Thailand using the Elite Visa and not having any primary residence in another country? If so, did this get you in trouble at any point?

i don't have a elite visa. but as an American I need to maintain a USA phone number to roam in Thailand to do banking transactions, i have a mail forwarding service for sending new credits cards and ATM cards and important mail, my primary form of USA ID is my California drivers license which has expired now which can make somethings very difficult like opening new accounts, banks get weird when you don't have enough transactions, one bank closed my accounts. not sure about Germany.  just some things to think about. good luck on your move.

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16 minutes ago, digeldoop5 said:

Another concern is my Passport, if it were to expire, can I just get a new one at the Embassy in Bangkok despite it not being an emergency?

do they have a website?

 

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41 minutes ago, digeldoop5 said:

Another concern is my Passport, if it were to expire, can I just get a new one at the Embassy in Bangkok despite it not being an emergency?

I am not aware of any embassy for a European country not issuing passports uness it was an emergency. Some do require you to register your residence here at the embassy to issue a passport.

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I am kind of a similar situation except not on an Elite visa but I do stay a total of 183 days or more on a tourist visa to be eligible for the tax residency.

 

First of all, nobody cares what kind of visa you use to stay in a country so don't worry about that.

In most countries you become a tax resident if you stay more than 183 days, more than half a year. If you don't stay anywhere that long, your home country will be able to claim taxes. Overall it's the banking mafia that will define your residency more than anything as you won't be able to open a bank account without proper proof of residence most of everywhere.

 

For now every time I get asked my address in my home country I give my last address which is the one on my current passport. I can see this becoming an issue if I ever get into some kind of trouble with the authorities but otherwise nobody gives a f really.

 

It seems a work permit would only be required by the Thai immigration dept if you work with a Thai based company or with Thai people, so any online freelance job or whatever online with a company or people outside of Thailand is fine to do on a tourist visa.

 

Regarding taxes it's a bit of a grey area however.

As a Territorial taxation country, Thailand only tax on income generated or earn inside Thailand, anything earned outside and not remitted in the country in the current year is not taxed.

 

That said, from my understanding and according to the law, if you perform an activities that can get classified as work performed on Thailand territory, whether or not the salary is paid oversea and remitted into Thailand, is considered taxable income. Exception in case the income is already taxed in a country that has a double taxation treaty with Thailand.

From my research it seems most people just bury their head in the sand on this by not declaring anything anywhere while working online job in Thailand, earning income and keeping it outside of Thailand. Apparently nobodies ever gets in trouble doing this it seems.

 

Investment outside of Thailand or management of a foreign company apparently does not qualify as work or as a job and therefore is not taxed as long as the profit is not remitted in the current tax year.

 

Important f you are involved with crypto, whatever you earned from crypto is considered Thailand income as the blockchain is everywhere they said ... A capital gain tax of 15% is due on crypto trading profit and interest or income earned from crypto would be considered taxable income by the revenue dept not matter what.

 

 

 

 

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9 hours ago, digeldoop5 said:

 

In Europe (at least in Germany) I am not allowed to keep my primary residence here if I am not actually staying here, which results also me not having to pay my income tax here.

 

 

Not correct, sorry mate who told you this? If u have a permanent residence for 1 day in Germany you could be liable for capital gains tax in Germany if no other country claims you via a dba ie Thailand for 183 day stay.

 

https://www.deloitte-tax-news.de/arbeitnehmerentsendung-personal/thema-des-monats/wohnsitz-par-8-ao-und-gewoehnlicher-aufenthalt-par-9-ao.html

in german

 

The topic is very complicated in German tax law. However in real life usually you are not liable for German tax (meaning you do not get caught) if you do the "Abmeldebestätigung" i.e. state that you have no longer a permanent residence in GER. . You remember Boris Beckers tax troubles if you are German. You can keep German residence and tax liability for example by simply stating you life with your parents in Germany.

Edited by stat

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At your age, I would strongly recommend you set up a company somewhere/anywhere that can be a bit of a constant for you.  Tax havens might make sense for this purpose.  Then, open a Thai subsidiary within a year or so of getting the EV, and use that for a real work permit.  Expecting to be able to take advantage of the Elite for a long time is going to be tricky unless you are a trust-fund baby.

 

If you don’t have right-to-work in a place then you are always on the edge.

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11 hours ago, NCC1701A said:

i don't have a elite visa. but as an American I need to maintain a USA phone number to roam in Thailand to do banking transactions, i have a mail forwarding service for sending new credits cards and ATM cards and important mail, my primary form of USA ID is my California drivers license which has expired now which can make somethings very difficult like opening new accounts, banks get weird when you don't have enough transactions, one bank closed my accounts. not sure about Germany.  just some things to think about. good luck on your move.

Check out VOIP.ms for phone service, along with Bria for your phone for SMS.

 

Also, get a US Passport Card.
 

Guessing you are still liable for California taxes...

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11 hours ago, NCC1701A said:

I need to maintain a USA phone number to roam in Thailand to do banking transactions

Because they will send you SMS, in which case you mean a mobile phone number? T-Mobile has a fairly basic service that doesn't cost much which should meet your needs. Otherwise I've friends here who sign up for Vonage for a landline number

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One thing you DO need to bear in mind is Thai Elite reserve the right to change their  rules at any time and are answerable to Thai immigration.

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Maintain those family ties, guys. I've watched people lose them over the most petty disagreements, and the price they paid was dear.

 

I use my mom's US address for everything. I maintain my US credit cards and bank account, and they're tied to that address. I still have to file taxes at that address, for my student loans. I never have to pay as long as they keep seeing my meager Thai income.

 

My mom's pretty old already, but eventually she'll get older, and is going to need help. Then I've got a place to stay. With the way things are here, I'm certainly not staying in Thailand indefinitely.

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