How to Live in Thailand Tax Free?

[@TheColdViking]

Thailand has introduced a 5 year DTV-Visa, that allows you to stay in Thailand for 180 days per visit, and it seems like this visa can become a massive Tax-Dodge for people living there. Because you only pay tax on the income that are put into the Thai Banking System, so if you have an offshore bank and lives in Thailand on a DTV-Visa, then there will be no taxes since you are not bringing in money to Thailand according to Thai Law. So if you earn millions in a foreign coutry as a digital nomad, and are investig outside of Thailand then there will be no taxes your you 😎

[@richardmuller2317]

only if you stay less than 180 DAYS BY YEARS?

[@rnikko6472]

Assuming you don't have a rental income, and SS benefits yet, $80K a year or $6,667 a month of unearned or passive income is quite high for retirees

[@chrisroach2390]

I see the best option if you do not qualify for LTR is Revolut/Wise type debit cards, you can use them at an ATM with up to 30k baht a time, very good exchange rates and something like 1% commission once you go over the limit, sounds a lot better than minimum 25% tax rate, just leave your money offshore.

[@thesheperd7567]

Wise doesn't have a card for Thailand yet

[@dancooper5741]

@@MyHomelessTravels Not really, the can’t tax loan funds…& credit card money are loaned money spent in Thailand . The card debt can be cleared daily in your home country to avoid interest.

[@MrEye4get]

The same exemptions should be applied to pensioners living in Thailand for a Non-O Retirement or Marriage VISA. If that doesn't happen, "earnings" should be tax-exempt on the first $120,000 remitted to Thailand.

[@mjl8197]

Seems crazy that they are giving tax-free status to these rich foreign Nationals that can qualify for the LTR Visa, but are prepared to tax those that want to retire there on a moderate but stable income of non-government pension and interest at a resulting rate that would be higher than they would be taxed in the United States.

[@tinh_lai_ivietnam5253]

Can't blame Thai government. The policies in place is to cope with a lot of farangs abusive behaviors in the past. The polices aim to filter out those Thai don't want in their society. The result is those people who can't meet the requirements are moving out to Laos, Cambodia. That's called picking order.

[@petepana1140]

​Its not going into a thai bank account how dumb are you,​@@tinh_lai_ivietnam5253

[@kellywalker4494]

@@tinh_lai_ivietnam5253are they saying rich people aren’t abusive and it’s only poor people who are abusive and need to be filtered out. I don’t agree, in my experience some of the most abusive people I’ve met have been rich and entitled people.

[@CreepyTrendMan]

@@tinh_lai_ivietnam5253 That makes no sense. Give examples .

[@scott1572]

Could you do a video about banking in all ASEAN or even all Asian countries. Ranking them and maybe giving yes/no for safety?? Might be good vid

[@darrineagle3450]

Thailand is about to learn the "dance with the one who brung you" lesson.

[@wengelder9256]

Do u think the Thai economy depends on a few expats ? Most of old pattaya type expats will not pay tax anyway

[@PamelaAlston-x5j]

Fortunately, we qualify for Long Term Visa (LTR) under Wealthy Pensioners……..

[@Ekami67]

The other issue with this visa is that for the "Work from Thailand" category you need to be an employee. Being a contractor, even with regular income coming from a single client doesn't let you qualify :( . They even specified they might add a category for freelancers someday but it's not on the table yet.

[@Sam-by3kk]

Just set up a company in a favourable region and make yourself an employee of it, UAE is best. 3 months a year, 1 visit every 6 months as it stands. less than 6 months in thailand if on elite visa, if LTR visa probably fine if it truly is tax exempt

[@Bribriblibliblu]

@@Sam-by3kk and how would you meet the requirements of your employer (the company you set up) being a publicly traded company or a private company with a revenue of $150M in the last 3 years?

[@roosterbooster3265]

Yes, the work from Thailand category excludes nearly all of those people who would be interested due to the employer rules. For the retiree category, salaried income is excluded too thus excluding most of those who have a side job where you can earn the income from anywhere. Dividends, pension and rental income is about all that is allowed.

[@BambinoAmericano]

Run. Malaysia is a good alternative. Sarawak at feasible conditions, the rest of Malaysia for the wealthy.

[@p.c.h.6721]

I'm currently contemplating moving to either Mexico or Thailand, still undecided. Thanks for the information, Michael 👍

[@AusValue]

Make sure you visit Thailand first.. you might change your mind like I did

[@JediStockTrader]

@@AusValue Please explain

[@OffshoreCitizen]

Happy to help! We have some interesting options for Mexico, so feel free to reach out if interested

[@AusValue]

@@DeusExMachina50 dangerous vehicles everywhere, I witnessed people die the first week I was there and then on the news the next day more people died including children on a speedboat (with a tour I’d been on shortly before) There is incompetence and no accountability everywhere. Locals are nice whenever you are giving them money at least. I can’t do anything I enjoy like going for long walks without any stress of walking near live wires or wild dogs. It’s nice for a holiday but living is another thing all together. I now plan to relocate to New Zealand and take up the 4 year tax free program

[@dexterspeights3484]

Mexico is more expensive than Thailand + corrupt cops will shakedown gringos for money in Mexico!

[@AsiaWalking4k]

Live between Dubai and Thailand or Vietnam and Thailand Second option is for budget friendly folks 😅

[@ChairWoodenFloor1]

Regarding Work From Thailand visa - they require you to prove you paid income tax on your salary for past 3 years and they expect you to continue paying income tax in your home country.

[@Leonardo_A1]

Thanks a lot for updates to Thailand , very interesting . Have a great time in Oman. best greetings from Varna cu Leonardo

[@OffshoreCitizen]

Thank you, Leonardo! Appreciate your support. What are your thoughts on the topic?

[@phil111ify]

Thailand is great for winter sun but I prefer cyprus to live full time. The visa system in Thailand is just strange and business and land ownership is terrible for foriegners.

[@OffshoreCitizen]

What do you like about Cyprus?

[@phil111ify]

@@OffshoreCitizen The two are chalk and cheese. Im british so going to live in Cyprus was perfect for me. Low taxes (0% on cyprus divs)a path to citizenship,good weather,low crime, entitlement to health care, i can own land although ltd to 40000sqm, I dont have to report every 90days, fare legal system(not in thailand), no dual pricing, freehold on property means freehold in thailand not the same. In cyprus you are considered as an equal human being in thailand you are farang(WHITEY) they are a deeply racist country, the more you learn the language the more you realise it. I love thailand and have a condo there but would never go all in there. Three things that really annoy me about cyprus 1. compared to places like tmarbella new property design is just terrible.2. Getting hold of good cheap furniture is impossible, small range very exspensive. 3 Its not well connected by air, limited direct flights, cost more not enough competition on the island to drive prices down. Flying to europe is ok but flying to thailand so expensive.

[@pathkris2984]

@@phil111ify How is annuity income taxed in Cyprus, any idea? Thanks.

[@vanhaleq279]

How do you pay 0% taxes in Cyprus? What are Cyprus "divs"? I am trying to compare Thailand with Cyprus tax-wise, I am a software developer

[@AUT1981.]

I live in Phuket Thailand and would NEVER Buy a property here. Reasons 1. Supply supply 2. Quality - buildings here are not build well or maintained 3. Property managers are dodgy ( tell the landlord they need to buy things that don’t need to be replaced ) 4. It’s still a 3rd World Country and does not have the momentum of Vietnam and some other south East Asian countries. Live here and enjoy a lower cost of living* and keep your money in a better run country.

[@benchoflemons398]

The yield is bad but doesn’t renting annoy you?

[@dexterspeights3484]

Phuket is becoming expensive because of too many Russians with deep pockets setting up base in that area!

[@RykerFreegeld]

Problem with Vietnam is it doesn't have any long-term visas to speak of ~ unless you want to register and run a company there. So not an option for most remote workers that just want to keep their lives simple I guess.

[@cfdProptrader]

3rd World Country with World number 1 rules for visas lol right ? Nha..... Cyprus is ok.

[@davidpascoe5977]

3rd world country, what a load of BS. Thailand is far above 3rd world status, obviously you have not travelled the world !

[@buzzlamicjihad]

new vid on Labuan please, and/or global options for crypto traders/firms (trusts, holding companies, banking, etc.)

[@wengelder9256]

Not all money coming in wil be taxed . If earner prior to end 2023 it’s not taxable. Or if there is a double tax agreement , the likelihood that you pay tax is low

[@DoorCam-l7y]

Thai retirement visa 1900B/year... $65 (no exit needed). Use ATM/cash advance withdrawals. Even for residents, Thailand, unlike the US do not tax foreign income. Only inbound transfers via SWIFT..... are taxed.... so why transfer....?

[@Gorilladome4664]

2 quick questions: 1) RE the required USD 80K income...would that included overseas income, say from dividends, brokerage account, NOT remitted into Thailand...doesnt seem to be a distinction re whether or not the income has to come into Thailand to count or simply exist offshore, declared of course. 2) Re the required "direct foreign investment" ... does that mean specifically offshore investments including stocks and or property etc...? thanx!

[@dapro2524]

Tip : Just stay in Thailand for 6 months and ignore all the tax headaches in general. Spend the rest of the 6 months in the Philippines. Just a 3 hour flight

[@realsatoshihashimoto]

What about international treaties/agreements which Thailand has signed dealing with prevention of double taxation? So long as you can prove you already paid income tax on the funds in your own country surely the double taxation treaties would prevent double taxation? The most that should be payable is the difference between tax already paid in your home country & the Thai tax rate! (If any.) Pretty sure countries like UK, USA, Canada & Australia have double taxation agreements with Thailand. I also heard this new tax on money brought into the Kingdom isn't specifically targeted at expats living there. Thai nationals bringing funds into the Kingdom also have to pay tax on those funds. I heard it was actually primarily aimed at Thai Nationals & that foreigners spending more than 6 months per year in Thailand are collateral damage.

[@dangeisser3416]

What if you applied for a retirement visa years ago and you were making over $80,000 for 10 years prior to applying for the retirement visa? Could you use that income for the wealthy pensioner LTR today?

[@EntropyFarmGreece]

Does this mean someone owning 1 million dollars worth of Real Estate can get the Visa or do they need to also make 80k a year for the past 2 years? Thanks

[@tinglestingles]

Can you do an update - I'm not sure this is still correct.

[@janhansen6195]

why stay in a country like Thailand that has this flip-flop system at all? If your an exspat you do not need all this stress and hassel right? l did live in Thailand for many years and l had a good pension from my home country and all of this went into Thailand, and in most of EU there are rules like I have to pay full tax the first year after I have moved out of Norway, then I only pay 15% tax afterwards. And I have to open a bank account in the country I'm moving to in order to have my pension paid there with tax relief, if I keep my Norwegian bank account and choose to withdraw my pension in Norway then yes I have to pay full tax which is much higher and I lose a lot of money on this, so here you can forget about everyone who has the same system as us and this applies to most people in Europe also so l got smart and l move to the philippines and it was totaly diffrent, no hassel at all, no stress with visa and no tax at all, so why stay in Thailand at all. l did go to the Philippines and it was 10 times better, no stress and hassel with visa no tax, and this is what you want as an exspat

[@wesgraham2262]

As an American, does Thailand tax me on my pension or Social Security payments if I stay in Thailand over 6 months?

[@BlazeGuitarLessons]

The LTR visa sounds awesome except for the $150 million in the last three years.

[@AntiTheismForever]

Qualifying then would require me to invest at least $250K USD (an extremely overvalued currency) in Thai property. So that translates to decreasing my retirement savings by at least $380K AUD. No thanks.

[@elchapo8419]

Do y ou have a video about the Netherlands? I couldn't find it in your channel

[@orlandoheavener8932]

Are disability payments also tax eligible?

[@thesheperd7567]

If the DTA doesn't happen for me then I will continue using Wise to transfer money but send it to my daughter's second account for my use only. She can receive gift money upto 2 million baht (as read from a forum).

[@Levi-zy5dr]

Better become a Cambodian citizen (buy it for 250k usd), Cambodians can enter Thailand easy

[@happylife4734]

First check if your country has Double Taxation Agreement (DTA) with Kingdom of Thailand, if they do, then you don't have to worry about this, because DTA prevent the same income from being taxed twice. Australia has DTA with Thailand, and age pension is exempted from taxation according to Australian Treaty Series 1989 No 36 with Kingdom of Thailand. Google the treaty online. Article 18 in the treaty says Pensions and annuities 1. Subject to the provisions of Article 19, pensions and annuities paid to a resident of one of the Contracting States shall be taxable only in that State. 2. The term "annuity" means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth. Don't waste your time and money listening to the expert, because they are here to confuse you and make money from you.

[@devoutsalsa]

What kind of land can foreigners buy? There are restrictions on what foreigners are allowed to own.

[@OffshoreCitizen]

Only a foreigner who qualifies under section 96 bis of the Land Code Act may own up to 1600 square meters (or 1 rai) of land for residential purposes in specified areas.

[@it_is_what_it_is2023]

Can i apply for the LTR Visa although i own already a Thai Elite Visa ? Thank you

[@Gorilladome4664]

Hey, thanx for the video...great content as usual! Quick question...contemplating this move near term... question involving becoming a tax resident of Thailand vai physically retiring and moving to Thailand. If I moved my Canadian stock portfolio overseas, say Singapore, to an investment bank, say DBS Vickers, access to NA markets, where a wealth manager took over the management of that account from myself. If the mind of the business remained in Singapore (through an individual trading account only), while Im residing in Thailand full time...then according to Thailand tax laws, those capitals gains would remain tax free if not remitted into Thailand...is that correct? So two points, the mind of the business must be in Singapore and the capital gains must remain offshore? thanx very much!!!

[@hgh1727]

From my understanding of this law, you are correct.

[@monsieurminimal6277]

Being a Non US Person, and having my income from stock market earning and dividenda as a person (or on of my LLC or BVI) where do you recommend to move: Dubai or Thailand? (I'm a tax Paraguay resident, 53 years old, single male)

[@AsiaWalking4k]

Hong Kong corporation and living in Thailand

[@tinglestingles]

Would residents be subject to tax on monies brought into the country - for example, for a condo purchase?

[@robertgrey6101]

A very good question !!

[@AntiTheismForever]

Yes. Unless you qualify for the long term visa as discussed in this video.

[@Marcus-d5d]

How would someone remit the 500k to invest for the global citizen LTR, if they won't be tax exempt until after they have the visa.

[@GregoryCampbellSwag]

If you dont have 5 years of experience or $80k yet, could you get the elite visa and live in thailand, while gaining that 5 years and working up to getting a promotion to $80k, and then apply to the LTR visa? Is that allowed?

[@djcconsults]

Just wanted to say thank you again Michael you have taken a complicated misunderstood subject and clarified it completely

[@OffshoreCitizen]

Always a pleasure! Anything you'd like to see next?

[@chrissmall1246]

I was informed by a Thai tax accountant that I can withdraw money from my Canadian bank via the ATM in Thailand and that money is not considered a transfer. The accountant said the government is not currently looking at that type of transaction as income import. I can the physically deposit that money into my Thai bank account and again that money is not considered a transfer as it is deposited from within the physical boundaries of the country. On 25k TB I pay 220 Baht plus $5 service charge from my bank in the country of origin. This process costs me between 1.6-1.8 percent interest on my money depending on the daily exchange rate. This is a reasonable price in my opinion to remain non taxable and avoid utilizing an accountant to process taxes on money already taxed in my country of origin. Is this a sound, legal and legitimate strategy to move money for living expenses or am I missing something. The accountant informed me that the Thai government is not looking at this type of transaction as it is too difficult to track and is not considered a physical transfer into my Thai bank account. Am I missing something?

[@ChairWoodenFloor1]

The government doesn't care about ATM withdrawals for now, but technically they qualify as remittances, i.e. taxable.

[@chrissmall1246]

@@ChairWoodenFloor1 I just watched Chris Parker (Canadian xpat) Retaired working for you. He did an update with a highly accredited Thai tax accountant and partner in a prominent firm. The accountant specifically stated that ATM withdrawals and credit card spending WOULD NOT be considered repatriation of funds and would therefore not be taxable. Very good news.

[@vanhaleq279]

Can I get "Work From Thailand" visa as a contractor?

[@yumchar7]

Wealthy Global Citizen stream: Can the US$500k investment in Thai bonds / Thai real estate be counted towards the US$1m in assets requirement?

[@bjornebekk2]

If i make my money on november 24, can i teak that money to Thailand in februar 25 and not pay income tax?

[@tazzel2699]

All I know is I, as well as many, are halting any plans to retire to Thailand

[@OffshoreCitizen]

Where are you looking into instead?

[@tazzel2699]

@OffshoreCitizen my number one choice was Thailand. Now I am going to have to start researching again

[@erikjanse3994]

Is one still eligible for the LTR as a wealthy pensioner if you bought a Condo in Thailand over 250k USD (over 10 million Baht) in 2018?

[@BadApana]

Usually these require new investment after meeting the other criteria and application process. Plus, the property must be a brand new condominium.

[@Frank-yx1np]

Complete joke,,,th will loose money

[@rafalwyszkowski70]

LTR visa in wealthy pensioner category seems like a great option however my portfolio is not structured for generating passive income yet as I don’t see any need for draw from my investments. This creates a problem how to document that $80K income without converting to annuity. One would assume that portfolio of $2M should provide $80K of lifetime passive income without significant depletion of principal. Would that be considered adequate for this category?

[@AusValue]

Only 80k? You’re investing in the wrong places

[@AntiTheismForever]

That $80k must be classed as income, such as an annuity, and documented evidence of that income provided.

[@johnthomasmoulton8934]

Anyone considering the "gifting" alternative?

[@thesheperd7567]

I'm a mere retiree and have UK DTA status. If I have to pay tax I will continue to use Wise but send to my daughter's second account for my use. I can transfer whatever to my own account keeping below the threshold. Far too complicated for Thai authorities, can't even impose the airport tax yet again and that's simply channeling travelers through passport control.

[@Kain81023]

Hey Michael, You mentioned you could keep the money at your foreign company. Can't you just use credit cards then to pay for yourself in Thailand? I don't see the need to transfer the money over to a Thai bank account.

[@thecontainerthecontents6889]

could i qualify as a foreign expert in business because I own a tiny USA LLC which earns me the sufficient 80k as the CEO of my one man operation? Because the word "expert"... is not an clear term here. It sounds like anyone can leverage that word and qualify under the foreign expert category, as their is no one to establish or qualify 'expert'.

[@johnthomasmoulton8934]

I essentially have the same question, llc member but the income on my tax form is listed as "nonpassive." I think this will disqualify me for a wealthy pensioneer LTR.

[@maaa.a.8003]

BIS ( Bureau of International Settlement)

[@micomarinas2753]

can buying/investing in property in thailand grants a thai elite visa?

[@theRealRobMart140]

If your retired and decide to move to any of these countries from US, you still will be taxed by the US no matter what, Tax free for a US Citizen is not ever true.

[@popmop1234]

Not familiar with us situation, what about tax treaties?

[@ciaransheil563]

There is a foreign earned income exclusion if you don’t live in US you can exempt some income

[@TripleDeano]

Good luck cashing out that bond 😂