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Thailand 0% tax

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For me I will spend the water season in Thailand as it starts Nov-May, then‌ head out end of April (friends leave) Malaysia, camp there will July, head to Swiss‍ (pay wealth tax) for the summer, then do the remainder Malay/Indo/HK/SG till the end of⁠ the year.

Will move funds in for a couple of years (2026) and live off⁤ those till the next dividends season comes up.

As for the Elite Visa, i've written⁣ that off, will in future just do tourist visa or visa exempt when that expires⁢ in 2026 time period.

Based on my interpretation if you don't︃ remit its tax free.

So living in Malaysia depositing into overseas bank (thai+overseas) its not︄ income in Malaysia (remitted) = tax free as they are retaining their onshore income tax︅ system but not overseas (which Thailand is loosing).

Worst case (the accountant + agent recommended︆ as part of the Labuan setup).

https://premiatnc.com/my/blog/mm2h-programme/
Just stay under 180 days in Malaysia also.︇
 
Hard to︃ stomach such ai stuff actually works given how other systems and the overall state of︄ maintenance is.
Does their Ai face thingy even works with facemasks on?
 
2y ago, I also had a small startup which⁠ involved a face rec use case. But Im not up to date on this now⁤ and given tech evolves so fast I do not know the exact state of affairs⁣ in ai face rec today. So would appreciate @wellington input.
 
All the︃ stuff you just said could be easily stopped by using a Covid Face mask +︄ sunglasses + sunnie hat when withdrawing from an ATM.
 
Yes no tax if not remitted to Malaysia.
Remains to be seen if Thailand‍ will tax income that is not remitted.
 
If Thailand︃ turns into this kind of perfect surveillance state with overtaxing, then it‘s time to leave︄ anyway.
But as already mentioned, you don‘t stand out here wearing a face mask.
 
They'd just block the ATM and the Revenue-AMOL team would look at nearby CCTV⁠ if its big enough...

Thai government is like this where tax is concerned.

Price given⁤ (pulled out of arse).
Price rejected
Price increases

For someone intending to live in Thailand long-term, this is ideal.︀

Malaysia fits the requirements my end... serves the purpose, plus the Gov are offering incentives︁ for corp Labuan in the field we operate in.

Thailand has a strong but decentralised cluster surveillance system, its all coming together, lot of︄ it was started in 2019 when the police started going to China to learn best︅ practices (a friend was part of that).

Then at the same time, the US is︆ pushing taxation aspects, so you have the two coming together...

To say the least there's biased aspects, and AI isn't perfect, our system was︋ trained on data from IBM which was the largest at the time, that evolved (that︌ was about 5-10yrs ago).

Where people need to be concerned...

There's 400-600,000 resident non citizens︍ in Thailand.

They are comparing against that, not 66m Thai citizens, the failure rate comes︎ dramatically down.

As someone from the field, i yearn for a‍ country to ban technology past a point (10yrs ago)...

When you see the capabilities in⁠ various avenues, its frightening for authoritarian use, and we increasingly see those applications by our⁤ own states...
 
Indeed, its very frightening in real︇ life, but with all tech you need hardworking somewhat smart workers running it. I could︈ imagine it working well in Germany, Japan, HK, Singapore and maybe China (lets give them︉ the benefit of the doubt here) for that matter.

However, given the overall state of︊ infrastructure and maintenance in Thailand (did not someone just die on an escalator or smth︋ like that recently?), I find it hard to imagine how they can run such complex︌ systems. I traveled frequently to that region and imo none of the countries except sinapore︍ seems to be able to pull off such a thing.
Do you have insights on︎ this?
 
100% True! Also, I find it hard to believe enforcing some "rules"‍ put in place that will directly harm my economic outcome. I wouldn't, but so many⁠ people, for one reason or another, do that...it boggles my mind. The same people later⁤ complain they aren't doing well financially. It's ANALogous to curb or even stop the feeding⁣ on my chickens (eggs) and cows (milk) to appease some d*mb*ss 1000s of kms away⁢ because over there they "voted", did a ritual, and renamed their man-made delusions "law".

This irrationality ALWAYS reminds me of this funny story: https://medium.com/@flowingwp/show-him-your-badge-a-humorous-texas-tale-c301d71d5eff

smi(&%
 
What if you keep all funds and invest through offshore company like Estonia or Cyprus‌ with nominee director? Isn't it good enough to have your income taxed less or not‍ at all in the case of Estonia?
Then you can withdraw only funds that are⁠ required for living.
 
Indeed this is the safest option right now since income isn't in a personal bank‌ account but in a business bank account and with Estonia in particular you could remit‍ tax free salary in Thaialnd that you will use for daily expenses.
 
How can you remit tax free salary to Thailand? they will tax all⁠ income and you cannot work while being in Thailand, you can take dividends. Are you⁤ sure?
 
Tax free salary means that Estonia doesn't impose taxes on salaries paid offshore.

Of course that‌ salary will be taxed in Thailand since you are bringing that income in Thaialnd.

If you instead get paid by the Estonian company with dividends you will pay taxes on‍ dividends distributed in Estonia AND personal income taxes in Thailand.
 
Technically, you can also lend yourself money, but it's prohibited with a private limited⁣ company. You can however do it with a general partnership, which works the same way⁢ as a company.
Estonia actually offers way more possibilities for tax structuring that are largely︀ unutilized and unknown.

Cyprus is also a decent option if you relocate there, use it︁ as a holding/trading securities, benefit from the IP box regime, or need it for some︂ cross-border structuring.
 
As I understand there is not really a legal⁢ way to have nominee director for Estonian company, while there is for Cyprus company. Is︀ it right?
Would you say keeping money in Cyprus or Estonian company will fix the︁ problem with remittance based taxation in Thailand? There is still no CFC in Thailand, so︂ is there any way Thailand will find out about the company?
 
No, this is a typical⁣ half way thought thru shot very common in this region (or other similar regions for⁢ that matter). The topic itself is an insanely complex one.
They either take an easy︀ way out or overhaul the whole tax code or prospone that futile exercise.

The easy︁ way out is to just chip away from all transactions coming in as bitkub to︂ bank is doing right now. I cant verify this bitkub story so Ill take a︃ friends word for that.
You are then going to file to get tax credits back︄ for funds where you have paid tax elsewhere.
 
How will thai authorities know about the company if there is no︁ CFC? Can't just keep the whole wealth under company offshore (example Cyprus / Estonia).
 
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