Thailand is no longer an option: What else?

[TheCryptoAnt]

@Mercury @wellington

https://paxful.com/sell-tether/with...y-payment-method&countryIso=TH&hasScroll=true

Mercury said:
So using a foreign credit card in Thailand should be technically considered as a loan not a remittance from income/savings.
Click to expand...

Id think so too

I believe we can use Nexo too, and just get a USD loan with USDT as collateral, then transfer to Thailand.
Debt aint income.

 

[Mercury]

@TheCryptoAnt

Regarding P2P, I would be cautious. You never know to who you sell your cryptos to and accounts could be flagged.
There have already been crackdowns on people about money laundering.

Yes Nexo is a solution.
I couldn't find if they are able to issue a loan certificate, useful as supporting doc when asked.

 

[TheCryptoAnt]

Mercury said:
@TheCryptoAnt

Regarding P2P, I would be cautious. You never know to who you sell your cryptos to and accounts could be flagged.
There have already been crackdowns on people about money laundering.
Click to expand...

Word

Mercury said:
Yes Nexo is a solution.
I couldn't find if they are able to issue a loan certificate, useful as supporting doc when asked.
Click to expand...

Lemme ask, keep u posted

 

[wellington]

Mercury said:
@TheCryptoAnt

Regarding P2P, I would be cautious. You never know to who you sell your cryptos to and accounts could be flagged.
There have already been crackdowns on people about money laundering.

Yes Nexo is a solution.
I couldn't find if they are able to issue a loan certificate, useful as supporting doc when asked.
Click to expand...

In light of the recent news, I wouldn't be touching P2P in Thailand (see the Russian cuffed for P2P with some Laos gangs that led to a Thai man murdering his family due to casino debts).

TheCryptoAnt said:
@Mercury @wellington

https://paxful.com/sell-tether/with...y-payment-method&countryIso=TH&hasScroll=true


Id think so too

I believe we can use Nexo too, and just get a USD loan with USDT as collateral, then transfer to Thailand.
Debt aint income.
Click to expand...

If taking such a approach.

I would structure it offshore and bring in the capital and then when it comes to declaring you have the paper-trail for overseas.

Thailand as far as I am aware has strict processes for loans and unregistered loans... could cause you a lot of issues...

If overseas its debt overseas, capital in return and re-paid overseas.

Though if doing this for years I'd imagine they'd just tax you anyway.

 

[JackAlabama]

wellington said:
In light of the recent news, I wouldn't be touching P2P in Thailand (see the Russian cuffed for P2P with some Laos gangs that led to a Thai man murdering his family due to casino debts).


If taking such a approach.

I would structure it offshore and bring in the capital and then when it comes to declaring you have the paper-trail for overseas.

Thailand as far as I am aware has strict processes for loans and unregistered loans... could cause you a lot of issues...

If overseas its debt overseas, capital in return and re-paid overseas.

Though if doing this for years I'd imagine they'd just tax you anyway.
Click to expand...

This one?
Russian man arrested for money laundering linked to scam call centre

apparently not for p2p but by being involved in that scam operations.

But agreed in doing this offshore (in the sense of not in the place where one is a tax resident) in general and especially in this case.

 

[TheCryptoAnt]

wellington said:
If taking such a approach.

I would structure it offshore and bring in the capital and then when it comes to declaring you have the paper-trail for overseas.

Thailand as far as I am aware has strict processes for loans and unregistered loans... could cause you a lot of issues...

If overseas its debt overseas, capital in return and re-paid overseas.

Though if doing this for years I'd imagine they'd just tax you anyway.
Click to expand...

Hey wellington can you extend this please? Ive got 0 info in this topic.
ty

@Mercury yes they can provide loan agreement/certificate but only for corp accounts.

Last edited: Oct 6, 2023

 

[wellington]

JackAlabama said:
This one?
Russian man arrested for money laundering linked to scam call centre

apparently not for p2p but by being involved in that scam operations.

But agreed in doing this offshore (in the sense of not in the place where one is a tax resident) in general and especially in this case.
Click to expand...

He was the OTC for the P2P.

TheCryptoAnt said:
Hey wellington can you extend this please? Ive got 0 info in this topic.
ty

@Mercury yes they can provide loan agreement/certificate but only for corp accounts.
Click to expand...

Well do the loan overseas into a overseas account and transfer in, use the paper-trail to show its a loan.

If a sizeable amount have a legal profession counter sign and translate it's a overseas loan to support your position.

Don't do in dribs and drabs but in one chunk into fiat and transfer in as one chunk.

 

[TheCryptoAnt]

@wellington ty for the answer above.

wellington said:
Though if doing this for years I'd imagine they'd just tax you anyway.
Click to expand...

Having to go through the Thai justice system against the rev department doesnt sound fun tbh

TheCryptoAnt said:
@Mercury yes they can provide loan agreement/certificate but only for corp accounts.
Click to expand...

Just get a cheap Seychelles corp, Binance will onboard you np.

 

[pomo]

Getting back to the first post, what alternatives are there (for someone not of retirement age)?

• Malaysia: On the immigration side there's the MM2H, PVIP and De Rantau (digital nomad) visa options, however the country will start to tax foreign remittances from 2026 so it's just a two year respite compared to Thailand.
• Philippines: SIRV or tourist visas. No taxation on global income or remittances (?)
• Indonesia: Second Home visa, a new "Golden Visa" to be launched. Resident taxed on their worldwide income, but the Golden Visa supposedly will be exempted.
• Cambodia: CM2H. Residents (>182 days) taxed on worldwide income.

and then in Thailand the LTR visa itself should be exempt from tax by royal decree, but there seems to be some conflicting opinions about this.

Looking only on immigration and tax, Philippines looks like the winner on paper. I've had a few short business trips to Manila and it seems okay but never struck me as place I wanted to spend any longer time in. Maybe one can survive in the BGC bubble?

Indonesia could be a contender if the GV is exempt, but the requirements to qualify will probably be quite onerous. Personally I don't like Bali but maybe Jakarta is a more interesting place?

Finally, if Malaysia and Thailand will have the same situation in 2026, better stick with Thailand if already invested there.

For me, I don't think the tax amount will outweigh the hassle of moving elsewhere but the real pain will be the tax filing and the forest of paperwork they are likely to require. It's already a headache with the 90 day reports, TM30s and whatnot.

Maybe will have to start looking at some European options...