Thailand CRS UPDATE (Sep 2023)

[churumbelo]

In Thailand there is no black and white. Everything is grey. The same bank,⁤ let's say Bangkok Bank, you go to a branch and they would require you to⁣ provide XYZ documents and ask different questions, then you go to a different branch and⁢ they require different things or nothing at all.

I do not know what country they︀ are reporting his account to. I was not with him during the whole process he︁ was with the banker, but I know he only needed his passport (European) and pay︂ for the insurance, and they opened the account for him right away. In some branches︃ even with lease contract + resident certificate (without work pernit), and so on, they do︄ not open it for you unless you buy the insurance. If you buy the insurance,︅ they do not require anything besides your passport. In others they do not try to︆ sell you the insurance, like in my case, and just wirh the lease country and︇ certified copy of my passport was enough.

He did not have any address in Thailand︈ and actually he was leaving the country a couple of days later. So I guess︉ he gave them his address in Europe. He was staying in hotels or serviced aparrments.︊

I will tell you, the branch he went to was Bangkok Bank at Siam Paragon︋ (ground floor I think). Also if you pay an agent around the same amount the︌ insurance costs, they can open accounts for you too.

 

[Wellington]

Back in the day i easily opened a account with my passport and 50,000⁢ THB deposit lol.

 

[cryptofriendly]

Time to cross a border and open an account in Laos, Vietnam or Cambodia. No‌ CRS, or any of that gimmicks.

I tell all of you a secret here. You can cancel︋ that insurance and get a refund up to two weeks after signing the contract, according︌ to Thai customer protection laws.
Of course you'll keep the bank account without any issues.︍

 

[Mercury]

I agree︊ that anything can happen in Thailand but in 2023 a branch from the top 3︋ banks, especially in one of the main luxury mall in Bangkok, not being compliant is︌ pretty weird and marginal to say the least.

For obvious reporting reasons, I personally would︍ never open a bank account without providing a documented address, and without truly knowing either︎ the account is resident or non-resident.

 

[churumbelo]

Thank you. Good to know. Although I opened⁣ the account without insurance. It was my friend who opened paying that insurance.
It happens in more︄ branches, not only that one. You pay insurance they open bank account only with passport.︅ It is Thailand. At least in the beggining of this year it was still like︆ that.

 

[zzzzzz]

@churumbelo does your bank statements shows your Thai address? Regarding address documents, do they want‌ to see Tm30 or residence certificate or lease agreement?

 

[Clank]

To get my account open a couple of months ago all banks asked for residency certificate‍ and 30 days left on the visa.

You can get the residency certificate at immigration⁠ with the TM30 from the hotel or Airbnb.

 

[zzzzzz]

Here they say https://thailand-elite.com/what-is-a-residence-certificate-and-how-to-get-it/ that you also have to stay 90 days, do one reporting, and⁠ have lease agreement in order to get residence certificate?

 

[Clank]

TM30 is enough for residency certificate.

 

[Wellington]

Interesting, wasn't aware of this, not that i⁣ mind CRS, i just disagree with the surveillance state, and everything being presumed guilt before⁢ proven innocent.

I've never visited Camboida, or Laos, been to Vietnam a few times, I'd︀ imagine it can be difficult to open accounts directly in or ven remotely.

 

[Clank]

Maybe you can open⁤ through HSBC Vietnam remotely.

 

[cryptofriendly]

I opened an account⁤ with bankcard and onlinebanking at SMBC bank in HCMC, Vietnam in 20 minutes with a⁣ tourist visa 4 years ago,
ABA bank with Visa debit on a 30 days ordinary⁢ visa and
Prasac Microfinance (they offered 14% on USD deposit) on a 6 months ordinary︀ visa extension and a rental contract (I had to go to a second branch for︁ that, the first wanted to see a work permit).

Nowadays, Cambodia got a bit stricter︂ and they don't give bank accounts so freely, you should have at least 6 months︃ extension, but as in Thailand, it all depends on the branch,

 

[Berti]

Just been informed? Who did inform you?

 

[AtMo]

Could I get the‌ residency certificate without a long term visa please?

 

[Clank]

Yes, you can, you only need 30 days left on your visa and‌ a TM30.

If you don't want to do it by yourself you can hire a‍ visa agent and they take care of it for 1-2K BHT.

 

[AtMo]

Thank you for sharing, do you know where I can‍ find a visa agent please?

 

[Clank]

Where are you located? Bangkok?

 

[AtMo]

I'm not in Thailand yet,‌ I would prefer Bangkok or Chiang-mai.

 

[Clank]

For Chiang Mai you can use this one, I have worked with them previously.‍

Napa Visa: Napa Visa

 

[Reawake]

@churumbelo Can you recommend a branch in BKK to open an account on a tourist‌ visa? I found an agency which helps to open a bank account here, but they‍ basically want my firstborn in exchange.