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Are you running USA LLC from Thailand ?

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troubled soul

troubled soul

👁️ Quiet Authority
Aug 23, 2020
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How many of you running USA LLC from Thailand ?
Are you running USA LLC‌ without problem from Thailand ?
Do you face any problem from IRS or Thai Government?‍
How was your experience ?
what are the pro and cons?
Please share
 
Ive in the past.

no, sabai sabai

good, kinda hot at times

i see not many cons to Thailand unless⁣ uve got kids cause decent education is expensive.
cheap, things are a few bills away⁢ from being sorted out for you, etc
 
will be following since I a while back considered Thailand for a few years.
 
I'm also considering US LLC/UK LLP +thailand Elite visa.

But is it possible to open‌ a bank account in Thailand without being considered a PE.

Or should I better stick‍ to credit cards from another country for everything in Thailand?
 
Thai Elite Visa holders can open banks accounts, no problem. Office that handle The Thailand⁤ elite issue documents for you to open bank accounts.

I'm also considering same setup as⁣ you.
 
so is the dubai caravan now traveling onwards to Thailand? So it will only be‌ a question of time until thats gonna shut too? 😉
the americas are open for business‍ as well.
 
Income is taxable in Thailand if it is:

a) Earned in Thailand (local income) or
b) Remitted to Thailand in the same year as‍ it was earned

Not sure why you would want to send your money to Thailand,⁠ but maybe you enjoy paying taxes?
 
This only works if you stay under the⁠ radar. Don‘t go to the Thai tax office and ask if you can run an⁤ US LLC in Thailand. You are not allowed to work in Thailand with an Elite⁣ or retirement visa. People got deported because closing the shop-door of their Thai wife in⁢ the evening without work permit.

Don‘t tell anyone about anything and only transfer reasonable amounts︀ only from your personal bank account abroad to Thailand (like 1000s of retirees do monthly).︁

Just my 2 cents.
 
Maybe.
I just wanted to explain that Thailand‍ is very very strict about their immigration laws and not so strict about their tax⁠ laws as long as you stay under the radar. Exactly the opposite of Europe.

I want to add⁢ that a special visa with work permit probably comes with an obligation to pay tax.︀ Even if it‘s a special rate it‘s no more a tax free setup.
I still︁ think staying under the radar is the best solution, realistic and easily done.
 
I'm thinking about paying rent or maybe buying a car,⁠ I would need a local bank account.

Mainly I will only be using my credit⁤ card for daily uses.

Do you think I should change my residence address on my⁣ bank accounts from my home country to Thailand address as well? So CRS doesn't report⁢ to my home country?
 
Makes sense. No sharing sensitive information is key.

If it's a special rate of 5-15% why not. It's way better than︁ paying more than 30-40% in some countries in Europe.
But definitely, staying under the radar︂ is best.
 
Sure, then just pay the taxes.

That would also count as remitted income, so make sure you pay the taxes.⁠

Sure, if you⁣ are tax resident in Thailand and not in your home country?

Why would you care about CRS⁢ if you don't live in your home country?
 
Thailand joined CRS this year.
If you change your foreign bank‍ accounts address to be Thailand (as your residence) then next year your banks abroad will⁠ send CRS information to Thailand.
Question is: What will Thailand do with such data? ...⁤ probably nothing.
 
Collect it alongside all the other heaps of paperwork they collect lol.⁤

I understand they report CRS regardless, to︁ your home country, regardless of address (residence) on account, and I also don't believe i've︂ ever had to provide a residence certificate for a bank account (and that's from a︃ decade+ ago, and to recent ones the Government organised to be opened.

My only concern︄ about my nation (citizenship) getting information, is that at some point they will need to︅ tax overseas non-residents to continue their populistic political agenda which has debased the currency to︆ the last bastion of viable support within the populace.
 
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