New Thai Visa Will SAVE You On Taxes!! Destination Thailand Visa
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- Опубліковано 5 жов 2024
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Thailand's New Tax on Foreign Income - www.siam-legal...
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The DTV qualification criteria has not been shared by the Thai authorities. Everyone is guessing the details behind the headlines, including you. Beyond me how you can describe it as 'perfect' when so much is unknown 🤷♂️
Yep, and it seems that he thinks it’s great for tax reasons, because you can stay for 180 days at the cost of POSSIBLE 10,000 baht….. if they let me stay for 60 days each entry, and it’s at zero cost, why would I want to pay 10,000? I work away for about 60 days, then about 60 days in Thailand with my wife and son.
Agreed. Ppl are jumping the gun making these videos when there isn't an official update on the Thai embassy site. Smh
Yes, exactly.
@@stepkycopky9354 I was told that after you do the border run 5-6 times they start frowning at you.
There is a risk that this "60 days in 60 out" scheme does not work for several years while DTV is designed to work like that as it seems.
What I do not understand though is why the author thinks that it will be 10k baht per year?
From the announcement it seems rather 10k baht per visa valid for 5 years, i.e. 10k baht once in 5 years.
@@SvirepiyBambr-xw8rw yes, as usual with Thailand, we will have to wait and see…… good luck
You misunderstood the 180 days rule. It is not per year but per entry. So you can stay much longer than 180 days a year
The visa is irrelevant to taxes, everyone has a choice how long they remain in one location and the 183 day rule isn't cast in stone either, it's a guide depending on family circumstances and financial situation of the individual, it's 95% reliable but there are exceptions so be careful
Personally, I think the 60 days on arrival is wonderful. Now you can get six months of total time in the country. And only have to do two border runs. Not needing a visa at all.
How many times can you do this?
@@TheWiseGuys101 That's no longer the subject or issue, the issue is that you would need to pay taxes if longer than 180 days. That is the entire catch.
@@TheWiseGuys101 You can do it over and over again. There is no limit.
So if I spend more that 180 days I'll have to pay taxes?? When does it reset?
@shim6057 what about the 180 day rule
Excellent video, Forrest. Many thanks.
Thanks Forest. Get us an update sometime on how you're doing personally.
Nothing has been implemented yet neither published on the gazette, so we dont know when will ever start and what are the ultimate conditions, as there are million versions about.
lol Welcome to Thailand.
Another young wonker out of money trying to survive on youtube like the rest of them.
Thank you for the update - it sounds good brother Lee. Please do a follow-up video in a few months verifying and confirming the actual tax savings.
There's too much that isn't known about the Visa yet. All we really know for sure is who the Thai government is trying to cater the Visa toward. The application requirements, mechanics of re-entry, and reporting schedule are not really known. It's exciting for sure, but mysteries usually are.
A lot of unknown, err towards the side of caution
Would be good to see the content creator in the comments section responding to his viewers
Thanks again for all the positive intel here brother Forrest. Will be more than Glad to live and pay Taxes to the people of Thailand. See you later
I won't give a bath to the Thai government
Great update !! Im from Uruguay and happy to be included now in the visa exemption .
Interesting.
Just wondering what visa is Forrest Lee on in Thailand?
Definitely not the Digital Sexpest Visa.
@@warrpeddduhhhhhh
Mr. Lee! Mr. Lee here yeah Taiwanese born American here.... yeah you took the words right out of my mouth. Me too i love Thailand too much myself and currently in BKK.... this 180 days DTV is just not gonna cut it for me also. Really can't see myself staying in Taiwan or the US at all...... i am totally sucked in...
I’m very interested. Usually spend 3 months a year in Thailand and do extensions or border run. DTV would be perfect for me. Guessing with a DTV, it would be easier to open a bank account too.
In our experience, tourists have always been able to find the right visa , regardless of the type of visa.
Thanks for the the update, this was very helpful! I'm currently in Thailand and thought to switch over to the DTV, but just like you, I love Thailand too much and wouldn't want to stay anywhere else during the other 180 days of the year.
It's not that you can choose to not pay income and capital gain tax at all. For example if you stay in 3 countries for 4 months a year per country, you will need to determine which of the 3 countries is your base country for paying tax ...
Yes he is wrong. What he is advising is tax evasion, and he clearly is not informed AT ALL. But you have to stay 183 days in one of those 3 countries, or you most likely default to your home country as tax resident.
For US tax payers, here is a tip. If you spend 11 out of 12 months outside of the US and don't get tagged as a tax resident in ANY foreign country, you can exclude up to $126,500 PER YEAR of EARNED INCOME (TAX FREE MONEY). Once again, not passive income, earned income so this DOES apply to self employed, freelance workers, wage employees.. ref: foreign earned income exclusion
I am Thai and love Thailand too but staying in Thailand more than 6 months will kill me. I can no longer tolerate the heat 🔥😔. Thanks for great information.
Agree here. So hot in Thailand, the recent heat wave few weeks ago killed like over 30 people!. I have moved out from Thailand to Malaysia , weather is much better less hot and less crowded than Thailand.
@@chiangmaigang they moved tp SF for other reasons i guess, there are many many other places which are perfectly fine. not only SF is cold no?
@@chiangmaigang SF is not cold when compared with other cities, like Chicago.
@@andreandree4384 I agree they moved to SF for other reasons.
Good information!! Keep it coming!
take it with a grain of salt as there's nothing confirmed yet.
Doesn't USA have a no-double-tax treaty with Thailand? So since you have to pay USA taxes, doesn't that stop you from being taxed on the money you bring into Thailand?
Yes and Yes
That seems to be what all the whining old men don’t seem to understand. The taxes in your home are removed from the obligation in Thailand, I would bet big money that some new language will be added when this evolves. They are not after expats, they are after big money tax shelters.
@@DakotaTPatterson Yes and No: you would still have to pay the difference that is more, in Thailand.
There is a treaty but Thailand is ignoring the treating. I live in Thailand, what most expats won’t tell you is that the new tax laws are targeting farang. Most Thai locals don’t pay taxes and the ones that do. Pay very little. Taxing farang is way over what they Tax a local.
@ReneMedia Thailand has more taxes than the US?!?! I guess time will tell.
It’ll be the perfect way to live in Thailand for 1 year without the hassle of doing a visa run for only 20,000 baht
but you can only stay 6 months in a year (180 days) if I understand correctly
I love this trend. Hope to see more countries competing for tourist/nomad dollars.
Theres no indication that income tax is waived on the DTV class. The LTR has an exemption in law for online workers, wealthy global citizens and wealthy pensioners. If this was given to the DTV then I would agree, but the 180 days entry implies they expect people to stay less time than tax residency.
Assuming it is tax free is just that an assumption until it has a post in the Royal gazette.
Staying in Thailand 180 days would be great as I could split my year between there and the Philippines. But why couldn't I just stay between Thailand and another country like the Philippines 60 days at a time throughout the year and not have to pay a visa and not have to show a minimum income? Can I enter Thailand 3 times a year visa free?
International treaties with the US says that Thailand can’t tax US income if it’s been tax in United States so this would violate the treaty
Most working age Americans in Thailand aren't paying tax on the first $126,000 of earned income. Much of that would be taxed at 35% by the Thai tax authorities.
@@kwhatten are you saying that that will be tax now or money over the 125,000?
However, any tax on Americans living in Thailand violates the treaty so how are they getting around that?
@@tomofnorthcal If you're an American working in Thailand (and reside in the US less than 30 days per year) and your salary is $126,000, you are eligible for the expat exclusion. You wouldn't pay any US taxes on that amount. My guess is Thailand will then expect you pay taxes on that amount to the Thai government.
I’m pretty sure it’s 10,000 bhat for a 6 month period and an additional 10,000 for another 6 months. Also you can only stay for one year total within the 5 year period. You don’t get to stay for 5 years straight
I've seen it explained this way elsewhere as well.
If this is true, it's a non-starter for me.
My Wife is Thai, and in 4 years when our Son graduates HS in North America, we plan on returning. I want to work virtually PT; it seems we'll be looking for other options on what will be my visa.
We intend on staying less than half a year in THailand and France and travelling to some other places to fill in the gaps.
Not true. It's zero cost to re-enter Thailand.
The DTV is pretty crap if you can't stay year-round. 180 days per year? I might as well just get 2 tourist visas where I don't have to bank 500k in a local account.
180 is pretty crap indeed, esp. considering there are tons of similar countries in the region.
Might as well stay in Georgia with my 360 day tourist visa and 1% income tax.
Batumi, Georgia is just 3h30min out of Dubai, and also close to Europe and places like Uzbekistan (Tashkent).
otherwise you'd had to pay taxes so 180 days is still a great deal! especially when the fee is only like 10k.. and other requirements seems to be good
@@fjorddenierbear4832yeah but the weather would be miserable six months of the year
I want to retire in Thailand to RETIRE FROM WORKING... not continue to work 😮😮😮
We all do 👍
Me too. But nobody talks about it…
I like the increase to 60 days instead of 30. Thailand, Vietnam, and South America are still in my long-term travel plans (hopefully) in early retirement.
Multiple entry visa does the same thing to avoid taxes. Just stay upto 180 days or less to avoid residency. The Philippines does not tax foreign remittances.
This new visa will benefit the wealthy who have homes around the world. The LTR visa doesn't allow you to live tax free in Thailand it provides you a lower tax rate of 17%.
You are wrong. High skilled LTR will be taxed at 17% but wealthy global citizens at 0%
180 days plus another 180 days extension within the 5 year period = 360 days per 5 years.... plus 500,000 Thai baht as a bond in a Thai bank
Cool, but only 180 days is a bummer.
I'll just keep up 1% PIT in Batumi, Georgia on my 365 day "tourist visa" w/ my own Georgian company.
Hi Fjord, how can I find you in instagram? I got a question regarding Georgia business - Thailand living
Apart from the cabinet meeting announcement, and then saying it was going to start 1 June. That only giving them 2 days to implement it. Thus nothing has happened yet. Embassy websites are the same as before. No further news in the Thai news. Thus I think logistically, there is alot of work to do and its going to take time to implement it, update Embassy websites, communicate changes to embassies around the world, border checkpoints in Thailand, train immigration staff, etc, etc. Also Last Monday was a public holiday in Thailand.
Check your sources. These changes are not approved. They were announced by a Ministry that was not responsible for visas. If these new taxes are actually implemented, I'm sure the LTR visas will disappear.
As DTV is only 180days, you dont become a tax resident, then you assume it is a better deal that maintaining your origin or original fiscal residence. However you have to pay your taxes somewhere (do not apply to US citizens) on worldwide income or total assets very often.
So even if you get a lower tax%, on country A, i doubt it can beat a territorial system such as thailand.
You only pay on the remittance basis.
I dont see how DTV an help.
If you dont pay in TH, you still have to pay elsewhere.
Not true. Some countries have 0% income taxes. You can be resident there and pay nothing. There are even no filing requirements, as they don't have income tax at all.
Great info. Thanks for sharing.
I think there's a big misunderstanding in this video: Even if you are not in any one country for more than 180 days per year, you still have to pay income tax and be a tax resident somewhere. You can't simply avoid paying taxes. Typically, this would be in your home country, even if you are not physically present there. And I don't mean this in the US-specific context; this applies to everyone else as well.
What you are describing is tax evasion, which is illegal and can get you into serious trouble. Jail kind of trouble.
There are many countries with no income tax at all. If one of them is your "home country," you're effectively at 0% income tax. It's not true that you have to pay income tax somewhere. It may be true that you have to be a "tax resident" somewhere, but if that somewhere is a place with no income tax, you're good. See what I mean? What if your tax home is Cayman Islands, for example? (no income tax there at all)
@@28Seconds-ld6cp Yes, you are correct. It is just not what is being discussed here. You will still "pay" tax, and the correct sum is 0% or close to 0%.
BUT the video makes it sound like: just don't be in Thailand or any other country for 180 days, and you'll be safe. Which is absolutely not the case.
If you have watched the video, then the context should be heavily implied and I don't know why you are arguing next to the point on purpose.
It's 10,000 baht for 5 years, not per year. And, visitors on a tourist visa, are not subject to Thai taxes. Also, people on the DTV would not be expected to pay taxes. Your video puts out a lot of disinformation.
I thought it was 10,000 Baht every 6 months.
Maybe 10,000 baht if you extend an extra 6 months @@p.c.h.6721
I've heard 10,000 baht for each visa extension. You should pay another 10,000 baht to renew for another 180 days. It's not a one shot deal.
Are 10000 bath for each 180 days!!
10k per 6 months sounds right. After 20 years it’s still cheaper than the elite visa / privilege visa
You said can stay 180 days for 5 years? Isnt it only 1 time 180 days plus a 2nd 180 days in a 5 year period?
That is correct as it is now, we will have to wait for more official news and to see it actually implemented.
No its 180 day periods for up to 5 years
I went to the visa center in bkk yesterday and the lady assured me it was only a total of 180 days in 5 years which is pointless so I'm totally confused now.
@@BenRJersey you do get one extension if you would like
@@BenRJersey It makes sense if you want to come to Thailand for 1 year and do not want to fake being a student.
the DTV seems like a good option for those who want to avoid income taxes. However, if you're wealthy and deciding to move to Thailand on the DTV, you will have to pay exit taxes in your country prior to leaving for Thailand. This could be enough to dissuade someone from moving to Thailand on this new DTV visa.
Not all countries require an exit tax though we aren’t all American
Thailand government are so slow at realising how to make more money..
That smile after you said freelancer said it all 😂😂😂
How does Forrest stay in Thailand long term?
I have my money on Elite visa
if you travel frequently, I think the privilege visa is a lot better than the other options...
Hi Forrest,
Like your posts and videos. Was watching Thairish Times interviewing you the other day and talking about your income source. Would you mind sharing what kind of Reits or real estates investments ? Is like peer to peer lending or reits ,stocks?
Don't have to go into detail just general idea.
Thanks😀
He seems to know very little. Most other blogs are more comprehensive. You can stay more than 6 months a year. You can stay 12 months a year. You just need to extend at immigration for 1900 baht
How come Thais do not get reciprocal "visa on arrival" visiting some of those nations: the US, Canada, the UK etc?
Thailand 🇹🇭 welcome you too.
Awesome video!
Can you still do visa run after 180 days and extend your visa bro?
Thanks Forrest. With the DTV, any mention if you could exit Thailand after 180 days and then apply for a new 180 days in Vietnam, for example, to re-enter after it is ready (a few days/ few weeks) ??? and do this for the duration of those 5 years?
Sounds epic !
With LTR u r under 17% tax bracket if u want to live thailand whole year.
Details havent been shared yet stop jumping the gun.
Another option is to go from Thailand!!
forrest. its now 180 days per entry, not per year. see the update from that guy from foreign ministry. unlimited entry.
The issue is if you stay the full 180 days on ANY visa in Thailand you are automatically liable for tax, this was from the 1st of January 2024. You would need to stay less than 180 days to be except
Thx Forrest
What if you don't have a registered company or contracts with anyone but just work online as a freelancer taking payments through wise etc? I am a recruiter so I don't have any portfolio apart from messages on various platforms organising interviews. Is that enough evidence?
I think people are confusing the Visa and the entry. The visa will be valid for 5 years but you only get 2 entries of 180 days each .
I assume they would limit the number of entries. Otherwise it'll make a lot of Elite visa holders unhappy who had to pay that much money.
no! u guys got it all wrong! before you get the 5 yr visa, you must stay less than 60 days, then visit your Thai immigration PAROLE VISA approval of 90 days, then make a run for the border and live on the down low like a refugee out of Africa...and hope to God and Buddha that you dont get caught for having too much vacation time on your hand. After all that, you must visit another immigration agent because Thai immigration always changes....but to be sure, u must check in again for another 90 day parole prison check in to make sure your not a bad falang. It gets better.
Nope. Unlimited 180-day passes during the 5 years, according to the Deputy Director.
@@28Seconds-ld6cp wrong wrong wrong.
Haha, like the smile on freelancer, nice job. Run Forest Run. Yeah that guy you interviewed was tough to understand. The tax thing is a make work project. All it does is annoy people to create jobs for tax admins. Lot of other doors are opening, Malaysian, Philly, Vietnam, Cambodia, Japan,Taiwan and so on
To get another 30 day free visa, you had to stay 30 days outside Thailand. With 60 days, how long one must stay to get another one? Vietnam offers 45 days free or 90 days $25 but one needs to stay 1 month outside to renew.
This has nothing to do with tax. What are you talking about? Setup a hong kong or Dubai company if you want to lower tax…
I'm pretty sure you can just extend for another 180 days till you reach 10 years. Similar to education or elite visa. That's the Thai way of controlling foreigners and visas I guess. Anyways we are all waiting for proper information 😄
I'm confused as to how the 180 day visa thing saves on taxes. If you are a digital nomad then usually you will need a foreign entity/business (in your home country) to process payroll etc and thus still end up paying taxes in the country where you come from . On the other hand if you fully used a Thai umbrella serice to help you work legally and pay taxes in Thailand then those taxes would be way lower than most countries (EU/US anyway )
Some people live in a tax haven country and pay no taxes at all back home.
If you stay 180 no tax. If you leave and come back for a day you become a tax resident. You will be taxed.
The new visa arrangements are not yet in until Govt full
Approval.
do you own or rebt your condo in thailand, forrest?
So if you move there as a retiree and not working. What do they tax you on?
Forrest, premature evaluation is a problem. Best to let the Thais warm up to the idea before you spread your seed of confusion all over the curtains.
Tell me one thing, either thailand is looking for only tourist or real wealthy expats as an investor.
Example: one person bought as a condo in onnut (55M) and them 2 cars n he wants to live a good n wealthy life. Now as per Thai Tax law, after investing so much that person has to leave Thailand for 186days. Any logic??
When an expats paying VAT on everything, paying more in every sectors in Thailand but have to pay Income tax like an Thai citizen. Where is the logic??
Expats can't vote in Thailand, and they're perceived (rightly or wrongly) as being richer than most Thais. Is it any surprise they'll have to pay more (including tax) for everything? ;)
Can you renew the DTV for another 6 months?
2 time 180 days in 5 years , yes , but you pay 2 time 10,000
"Freelancers" lol I was definitely thinking something else
We all were….
If someone is on a "tourist visa" and spends 8-10 months flying in and out of Thailand should not be taxed right? "Tourist visa" I am already a tax resident of Australia however I travel 2 months to Thailand, then fly 3-10 days in another country and back to Thailand then back to Australia for 2 months and repeat continuously flying 365 days. I am not working in the country, I spend lots of money supporting the economy in Thailand and other countries and if they want to tax me that would be disgraceful.
If you go over 180 days stayed in Thailand (total - not in one go) then YES you may be investigated .
Expat Tax Thailand have a Vid that goes through the Thailand- Australia DTA and gives case study scenario examples.
I do find it interesting that they would flag a tourist visa for taxes. Disappointing if they try to tax me and will not be great for tourism. I don't consider myself living in Thailand, just visiting despite having a Thai wife. i live in Australia and she lives in Thailand. My wife pays her taxes and i pay mine. We also travel to other countries as tourists also. I am self funded and only 45 years old, I don't aim for marriage visa which i could get if i wanted or pay the elite visa which will stuff my taxes in Australia.
All countries with income tax flag tourists to pay income tax if the tourists stays longer than a specified number of days. This is pretty much standard practice worldwide, so it shouldn't come as a shock.
@@28Seconds-ld6cp Not a shock, just disappointing!... I would think they will have a hard time trying to tax tourist even if they are past the 180 days and its only money they bring into the country via a bank account, I don't have a bank account in Thailand or any other country other than my home country... yet.
You might want to look into the foreign earned income tax credit ;-)
60 days on arrival but it’s been publicised so much , can anybody give a definite date, like Christmas is coming is it something that SANTY MIIGHT BRING
come .....come to Thailand....where you will check in to the immigration office every 90 days on PAROLE!
so does this mean we will get double taxed? what about tax treaties between countries?
Recently new tax law was introduced so this visa is basically to catch and tax people.
but once u stay 180 days u need to pay tax in thailand after new tax regulation ...
the DTV visa still does not state if you can do 180 stays back to back for up to 5yrs though! that would be awesome!
Stop the video and read the actual information regarding the DTV visa. Forrest gave wrong information.
Not interested. I want to be able to retire in Thailand. Is there a visa for that ?
Thank you
If you want to work on line and say in Thailand. If you on a marriage visa but you want to work for a foreign company as a freelancer do you need to change your visa? Like as an online teacher you get paid through wise do you have anyadvice
I wish they would have some kind of visa for retired ex pats that doesn’t require a large sum of money sitting in a Thai bank account. I have the money but I do not wish for it to sit in the bank and be inaccessible earning no interest. The elite visas are just ridiculously priced and out of reach for most people.
Agree.
my friend just came through BKK airport immigration and was only given the 30 day visa... not sure why he didn't get the 60 day visa...? guess he will need to get a 30 day extension
Thai bureaucracy is slow. Although announced dont expect the wheels to be in place yet. Welcome to Thailand!!
I'm confused you show a picture in your actual video, that states specifically that it is a visa for 180 days with a cost of 10,000 baht. To then say ''i think that is per year''. These LTR visa's are big BS as well, investing 250-500K USD into Thailand, LOL! You could get a european passport for that, stop being american, and live tax free, LOL.
Which visa do I need to get if I want to live in Thailand 5 months out the year every year until the God calls me home
If you don't mind doing a border run (and if the old rules on extensions apply, i.e., an extra 30 days extension at Immigration for Bt1,900), then you'd need just one border run plus 1 Bt1,900 extension.
Has the 60 day visa for US citizens been approved. I will be coming soon to Pattaya. Some say it is already approved and some say it is not. Thanks,
There is no visa for 60 days it is a visa exempt entry permit.
I'm from the US been living in the Philippines for almost 8 years now how would it me because I still have to pay US taxes we are looking to buy a place near the ocean in Thailand
You never exhibited any economic activities in Thailand. How come you are concerned with taxes? Did you think this topic might boost your ever poor view numbers?
What about Thai elite visa holders? Are they screwed with this tax change?
What I’m
Curious is u can do the 180 then basically do a border run or go to VN for a week and then come back for another 180 day visa. Those that make sense or do u know if that’s an option or is it a one time 180 with a one time consecutive extension or resets if u leave the country and get it again
Visas expire when you leave the Country if you do not get a Returning Visa before you leave, which ensures you can return on your existing Visa. I would assume you could get the Returning Visa before you leave for overseas and continue on the unexpired Visa as long as you stay within the 5 years validity period. If it is a Multi Entry Visa you would be OK, but if it is only a Single Entry Visa then I would assume that it is a consecutive extension, but Im not sure on full details yet.
Why pay taxes to a country hat does not give you anything back? When you use the hotel they tax you when you you public transport same thing. How comes people are so happy to bend over backwards to think that taxing money that has nothing to do with Thailand and the Thai Government is perfectly ok?
Doesn’t uk tax you even if you are traveling? Forrest don’t make too easy judgements . Do some research first
Theoretically UK won't tax your offshore income if you are outside the country more than 6 months in a financial year.
if you are just backpacking for example, you cant be a tax resident of no where. so UK will tax in that case. if you stay fore eample 5 months in thailand thats also the case.
as an american, not sure if this tax scheme has any advantage for me. I wonder if there is a tax treaty
Expat Tax Thailand have a Vid that goes through all aspects of the Thailand - USA DTA and gives case study scenario examples.
Apparently there is a treaty.
You have anyone from the Uk mitigating Uk tax using the long travel and not triggering tax in any destination? I would be really keen in connecting..
Wayne
The DTV visa seems like the best option they've put forward so far. No outrageous investment or income requirements.