Thailand is no longer an option: What else?

[Mercury]

A genuine credit card⁤ (not a debit or prepaid card) is a revolving line of credit, meaning you borrow⁣ funds that will be refunded (abroad in case of foreign credit card) at a determined⁢ date.

So using a foreign credit card in Thailand should be technically considered as a︀ loan not a remittance from income/savings.

Am I missing something?

 

[thomasparra]

Mercury said:
A genuine credit card (not a debit or prepaid card) is a revolving line of credit, meaning you borrow funds that will be refunded (abroad in case of foreign credit card) at a determined date.

So using a foreign credit card in Thailand should be technically considered as a loan not a remittance from income/savings.

Am I missing something?
Click to expand...

You are correct but I don't know if Thai tax authorities will share this view.

 

[thomasparra]

You are correct but I don’t know if Thai tax authorities⁣ will share this view.

 

[Mercury]

They can't create their own definition of what a loan‍ is.
They will probably want to tax loans as well, though. smi(&%

 

[TheCryptoAnt]

@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.

 

[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]

Word

Lemme ask, keep u posted

 

[Wellington]

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 such︂ a approach.

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

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

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

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

 

[JackAlabama]

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

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

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

 

[TheCryptoAnt]

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 corp︀ accounts.

 

[Wellington]

He was the⁤ OTC for the P2P.

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

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

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

 

[TheCryptoAnt]

@wellington ty for the answer above.

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

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 the︀ LTR visa itself should be exempt from tax by royal decree, but there seems to︁ be some conflicting opinions about this.

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

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

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

For me, I don't think the tax amount will outweigh the hassle of︉ moving elsewhere but the real pain will be the tax filing and the forest of︊ 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...