Company formation when moving to asia

[CaptK]

Your correct, Thailand dont really enforce any rules and are more interested in the actual business you do in country. If you are a foreigner receiving funds from abroad they are happy that you are spending money in the country.

Option 2 is buy the Ferrari and sleep like a baby option

 

[Dasboot]

JustAnotherNomad said:
Honestly it sounds risky. I can only speak of European countries where the effective place of management has much more to say than where your website is hosted. But I don't know anything about Thailand, so I'm not saying you are wrong. Probably they don't really enforce taxes on foreigners anyway.
But I agree that the other structure seems safer.
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Anything here is risky, especially stuff like traffic! ;-)

But some people feel much better here, the state simply does not have the complete control it has in the West - as long as some level of taxes are paid and everything is filed in time, no one would ever check or really care.

That being said you'd really need locals to handle stuff, in my case that has been a good and actually affordable, upcoming lawyer as well as my wife who is totally fluent in both english and "bureaucratic" 🙂

 

[StuartG]

Be careful - theoretically, if you are a Thai resident any income you bring into Thialand is taxable, though capital can be brought in tax-free.

 

[Dasboot]

Everything I've taken in except for cash from ATMs is so far in the books & reporting of the company, taxes and dues paid every month 🙂

Its not that I think you imply this, but could ATM withdrawals be monitored in any way??? Seriously doubt that...

 

[JustAnotherNomad]

Of course they can be monitored.
@Martin Everson will soon post his favorite link about the Dutch couple, I'm sure. 😀

 

[CaptK]

JustAnotherNomad said:
Of course they can be monitored.
@Martin Everson will soon post his favorite link about the Dutch couple, I'm sure. 😀
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Go on @Martin Everson the newbies need to understand how much care needs to be taken.

 

[Dasboot]

Well, around 15.000 euros spread on 4 different cards/bank over a period of a year - and all easy to document as 100% legal? Pretty sure I'll be OK, its probably far less than most europeans spend here anyway...

With monitored I mean very actively, as in the West, really do not think they are up on that level here. That being said, of course there are SOME checking and mass surveillance going on, but they'll normally have bigger & different fish to fry.

Its funny, actually living under the same roof as both a police officer and someone who works at the national money laundering unit - think I'll get the help I'll need if I run into bad luck for real!

Anyway, thanks for the scepticism & looking forward to that dutch couple, vaguely remember reading something about that years ago 🙂

 

[JustAnotherNomad]

15k definitely won't be a problem, even more so if the taxes have been paid.

 

[Martin Everson]

CaptK said:
Go on @Martin Everson the newbies need to understand how much care needs to be taken.
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Sometimes you just have to let people find out the hardway 😕.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.