Updated list of Territorial Tax Countries
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Malaysia still levies no capital gains tax on foreign capital assets & listed Malaysian companies
So for the wealthy investor in traditional capital markets... still perfectly fine
So for the wealthy investor in traditional capital markets... still perfectly fine
Thailand ONLY taxes world wide IF remitted.
If not remitted then its tax free overseas.
In addition any money brought in as proven savings is tax free.
In addition there are MANY ways to legally reduce the amount needed to live in Thailand by not remitting but paying a overseas provider for a service - I.e insurances etc
You'll be surprised just how little tax you have to pay at the end of it when you offshore all those services.
*actually just thought of a cunning businesses opportunity - establishing a agency to list Thai hookers on Onlyfans.com (offshore) and allow punters to charge their cards to onlyfans.com to get their nuts wet - that's a 200m$ a year industry as wallets close up domestically due to the taxes imposed on remitting to then pay the local whorehouse
As you mentioned, for insurance, flights etc you don't need to remit anything. I'm sure prepaid Gift Cards will become a little more popular too, as you can buy them with Crypto or USD/EUR. They are available for a ton of stuff such as FoodPanda/Grab/Grab Food, Shopee, Starbucks, Gas stations, Electronics, Clothing stores, Supermarkets, Home Goods etc. There are many gift card providers which are based outside of TH and have no presence there.
That's a great option available nowadays. Does this apply to LP/LLPs and other pass-through taxation entities?
True, but if you run a company from Thailand, you are technically liable for a Thai corporate tax, so the Thai route works for now, but it's still a scheme, and not clear as with the UAE.
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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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If you are a shareholder (passive) = no tax.
Also confirmed with RD when all the chatter started, they are not interested in bringing offshore companies onshore for tax as long as it doesn't do business in TH.
Yeah, with a director, it will be completely legal.
The same works with the UAE and other countries that apply CT based on the management, Cyprus, for example.
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might change by then. that region changes stuff like others change their underpants.
yes, most Chinese are complaining that they will not be able to bring their money to the country tax-free starting from 2026, and the amount of outside investment in luxury cars, assets and condominiums will likely drop. And seeing how Malaysia is currently suffering from exceed of empty condominiums, it might be that they extend the deadline or add more exceptions to make it easier for the Chinese to bring their money to the country while still following EU desires...
yah indeed, the condo market in Malaysia is not that strong and also their currency is mediocre at best. This whole thing is mainly driven by the oecd / fatf terrorist gang. So its a good play to assess it by end of 2026, which is almost 3y out, by which time i hope these powers driving all this are much less powerful since their fiat currencies will have gone thru massive devaluation.
That's how i see the world, one of the reasons i take 5-10 yr dividends in one go and defer, defer, etc so i don't have capital to deal with until the time is ripe.
The time will be ripe around 2026 🙂
Always liked Malaysia, gave it some serious thought... but HK probably offers a better lifestyle and you can harvest income / dividends in one year tax free (overseas).
hk would be good indeed. But the visa is not straight forward. Been told recently youd need to setup a real operating company there or smth which they oversee and then approve you or not based on local operations and people employed etc.
Its basically like Dubai but with way more substance required.
Also with the us china dispute picking on steam (from next year or so onwards) it might not be that great for western passport holders.
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thomasparra
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I think a nuance can be made between Europe and the US. As an example, only four countries in the world can travel VISA-FREE in China today: France, Germany, Italy and I believe Malaysia. I can go in China tomorrow without a visa if I want. Of course, no five eyes country in there... 🙂
On this note, is it possible to just have a personal bank account outside of Thailand (in like Singapore) for dividend withdrawal?
This way you get to use a foreign card anywhere in Thai without paying personal tax?
cards count as remitted at least in theory same with cash. No idea in that case tho.
Lot of things have changed yes.
But i understand you reside in Thailand (Territorial).
As long as you are not actively involved in the operations (i.e physically directing all the time) then like domestic, you are only taxed on income, in this case remitted income.
Thailand (as per my conversation - and my real concern in Sep) is not interested in taxing companies overseas whereby the Director/Majority shareholder etc resides in Thailand, that's not currently on the cards, as long as the business doesn't do business in Thailand.
If you have some local staff for the overseas company then they have to become 3rd party contractors (not employees) - Self Employed or their own LTD.
And of-course you can't sell into Thailand or do business inwards of Thailand.
Correct.
Though... there's ways around that. Credit Cards are debt... so there's contention for pushing that through the court system (pretty sure it will be by 2026).
Another possible loop-hole that will have to be pushed through the courts is "GOLD" in Thailand Gold is tax exempt.
You could import into Thailand gold holdings and then liquidate domestic (this could be cheaper than tax).
You could possibly also liquidate gold holdings overseas and remit the fund and when it comes to declaring 'gold sales' which are exempt whether they would recognise this is external and tax free or income tax charged is the contentious point for the courts.
I would love to move back to HK, alas i now have two kids and a third on the way so it's not practical.
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thomasparra
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For sure, Malaysia/Thailand are much more friendly when you have kids. I know couple people who were in HK for 15+ years; with kids, and eventually settled in Thailand. HK is not great when you have kids in general (as most huge cities in the world besides a few exceptions).
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