Digital Nomads, Biz owners in Bangkok
- Thread starter andrew28fl
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Crs is simple.
It goes by the residency you give to the bank. So you︁ know exactly where it goes. To where you tell them youre a resident with tax︂ id and the whole blabla.
That being said, if and only if the financial institution︃ is overly good boy like and want to creep the regulator deep into the little︄ * where the sun isnt shining:
A They report to your passport country
B They︅ report according to indicia: which is, phone number provided, standing instructions, powers and cash withdrawals,︆ spent, ip logs etc.
A. should not matter much.
B. is sophisticated and requires their︇ inhouse analytics to do it.
It goes by the residency you give to the bank. So you︁ know exactly where it goes. To where you tell them youre a resident with tax︂ id and the whole blabla.
That being said, if and only if the financial institution︃ is overly good boy like and want to creep the regulator deep into the little︄ * where the sun isnt shining:
A They report to your passport country
B They︅ report according to indicia: which is, phone number provided, standing instructions, powers and cash withdrawals,︆ spent, ip logs etc.
A. should not matter much.
B. is sophisticated and requires their︇ inhouse analytics to do it.
My bad. Writing in a rush is never a good idea.
Corrected and extended sentence: "Let your financial institution (FI) know where you are a tax resident. Verify that your FI got it right."
Corrected and extended sentence: "Let your financial institution (FI) know where you are a tax resident. Verify that your FI got it right."
I don't get statements, printed or emailed, but I don't think it does. I'm not sure. Most of the correspondence has been hybrid Thai and English.
I got online login to their Bualuang iBanking system but cant find where to draw up a statement.
this is all I pretty much see:
I got online login to their Bualuang iBanking system but cant find where to draw up a statement.
this is all I pretty much see:
I found this, but it's for mobile version (Bualuang mBanking).
"Request Account Statement
The requested statement will provide your transaction history up to 12 months and be sent to your email registered with Bangkok Bank Mobile Banking within one hour."
https://www.bangkokbank.com/en/Pers...Bualuang-mBanking/How-to-Use/StatementRequest
"Request Account Statement
The requested statement will provide your transaction history up to 12 months and be sent to your email registered with Bangkok Bank Mobile Banking within one hour."
https://www.bangkokbank.com/en/Pers...Bualuang-mBanking/How-to-Use/StatementRequest
Even the residential address indicates Thailand it could be still different with the permanent residential address the bank has on record for CRS purposes.
I recall that the bank asked Skenners to provide a permanent address in his country of citizenship, this is normally the address used for CRS.
Unfortunately it is not clear if that will be the case or not. Before I had discussions with banks why I should give a permanent residential︀ address in the country of citizenship if I didn't live there for ages and I︁ had a residence permit (temporary) in another country. They still required me to fill in︂ an address in the country of citizenship.
From my experience it depends on how strict︃ banks are and what they accept as your residential address. Sometimes a utility bill can︄ be enough, sometimes you need to show you are a citizen there or have a︅ permanent residence.
I recall that the bank asked Skenners to provide a permanent address in his country of citizenship, this is normally the address used for CRS.
Unfortunately it is not clear if that will be the case or not. Before I had discussions with banks why I should give a permanent residential︀ address in the country of citizenship if I didn't live there for ages and I︁ had a residence permit (temporary) in another country. They still required me to fill in︂ an address in the country of citizenship.
From my experience it depends on how strict︃ banks are and what they accept as your residential address. Sometimes a utility bill can︄ be enough, sometimes you need to show you are a citizen there or have a︅ permanent residence.
Holy moly!
- This is odd and I think this is ignorance on the part of the employee at the bank because what would happen if︀ we were born in Yugoslavia in 1970??? How are we going to give them an︁ address of a country that NO longer exists? 🙄
- My own parents moved OUT of Europe︂ BEFORE I was born, so I was born on a European "colonial" island. That island︃ has now gained its independence since the 90s. The European passports are all obtained through︄ Jus Sanguinis. How am I going to provide an address in a country of citizenship︅ my parents emigrated from BEFORE I was even born? 🙄
I don't think Bangkok Bank and Kasikorn︄ Bank are ready for CRS. You won't find anything about it on their websites, they︅ don't give you self-certification form, no tax id, no tax residency/residencies info requested. Permanent address︆ abroad might be just identity theft precaution or in case they want to contact you︇ or AML regulation.
Some uae banks are asking that one too.
What does one do if you really do not have one. 😉
Its anyway completely irrelevant if one is not secretly living in his country of citizenship, de registered and clandestine.
What does one do if you really do not have one. 😉
Its anyway completely irrelevant if one is not secretly living in his country of citizenship, de registered and clandestine.
There are many banks/countries like this. Mostly those who joint the OECD Standard without having been "asked" (o.k., that's a bit different with Thailand - they were "asked" to join).
Seems nobody really cares if the less important countries report wrong data.
Seems nobody really cares if the less important countries report wrong data.
@Skenners in one of Thai Elite newsletters I read that you need mailing address when opening account with Bangkok bank or Kasikorn bank. Usually banks ask for residential address (where you reside) and if you receive mail somewhere else, also mailing address (p.o. box, office...). How is with that and do they send anything or is everything digital now?
I arranged it with the Thai privilege concierge. I showed them my expired 6 month lease (still at same place though) and a tm34 (provided by my building lobby) along with 2 letters from Thailand priv that they email you and︀ also passport with visa. They book you in on a day and you just walk︁ in and open a new account.
As long as you have a lease or house︂ contract and the tm34, you should be fine. Its all paperwork though, nothing digital
this was bangkok bank
-Skenners
As long as you have a lease or house︂ contract and the tm34, you should be fine. Its all paperwork though, nothing digital
this was bangkok bank
-Skenners
I used my main residence address..
Governments overseas are︁ really intrigued just how much wealth is flowing East to Thailand from the West... especially︂ when they need to find something to raid for their currency debasement debt binge... reportedly︃ some nations are now having the ability to tax dependents of mixed race on the︄ untimely demise of the chap living overseas... (read online this morning a European - no︅ country given - now expected to pay inheritance tax when he drops dead - or︆ rather his mixed Thai-European kids which have all resided in Asia all their life) -︇ in Thailand tax is generally nothing or 5-10%
Though with the new Government debt spending︈ and following the US (alignment) i suspect Thailand won't be that fantastic retreat for 15︉ yrs before its demographics collapse, and now thinking maybe 2-5yrs, before they begin raiding everything︊ they can.
As for banking, Yellow bank asked for my address in the UK a︋ year or so ago, hadn't visited the UK in a very long time mind, and︌ E.V and Resident in Thailand (they were aware) it appears they are opting for the︍ easy approach (and worrying for some i'd imagine) of just sharing absolutely everything with the︎ UK, EU, AUS, US etc
Governments overseas are︁ really intrigued just how much wealth is flowing East to Thailand from the West... especially︂ when they need to find something to raid for their currency debasement debt binge... reportedly︃ some nations are now having the ability to tax dependents of mixed race on the︄ untimely demise of the chap living overseas... (read online this morning a European - no︅ country given - now expected to pay inheritance tax when he drops dead - or︆ rather his mixed Thai-European kids which have all resided in Asia all their life) -︇ in Thailand tax is generally nothing or 5-10%
Though with the new Government debt spending︈ and following the US (alignment) i suspect Thailand won't be that fantastic retreat for 15︉ yrs before its demographics collapse, and now thinking maybe 2-5yrs, before they begin raiding everything︊ they can.
As for banking, Yellow bank asked for my address in the UK a︋ year or so ago, hadn't visited the UK in a very long time mind, and︌ E.V and Resident in Thailand (they were aware) it appears they are opting for the︍ easy approach (and worrying for some i'd imagine) of just sharing absolutely everything with the︎ UK, EU, AUS, US etc
As for CRS, they still don't have infrastructure in place so I'm not sure how they can share anything. What is your connection to the UK - citizenship, permanent residence status, country of birth? You can always︀ say, address doesn't exist anymore, building was demolished 20 years ago...
I have an account with Kasikorn for 10+ years. Don't remember what they wanted when I opened it, but here is an anecdote:
A couple years ago I wanted to change the address and came by to a branch near me︀ with some kind of paper proof. They refused to change my profile and said that︁ I have to go to the branch where the account was open. I objected saying︂ that it was another city... and the manager then suggested calling the call centre! I︃ dialed the number and changed my address by phone without any verification whatsoever. They are︄ not really strict.
A couple years ago I wanted to change the address and came by to a branch near me︀ with some kind of paper proof. They refused to change my profile and said that︁ I have to go to the branch where the account was open. I objected saying︂ that it was another city... and the manager then suggested calling the call centre! I︃ dialed the number and changed my address by phone without any verification whatsoever. They are︄ not really strict.
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