How can I legally live in Thailand on the Elite visa while managing my business and avoiding taxes?

Elite Visa Tax Implications Long Term Stay

Nov 24, 2019

5 years ago

ORIGINAL POSTER

I am an active partner in a Puerto Rican company that exports services to the US, and soon Canada and the UK. I also have Real Estate income and Stocks in the US and Netherlands. I would like to get the Elite visa but I am concerned about working and possible tax consequences that might come with living in Thailand. Are there legal ways I could live in Thailand on that visa and avoid being Taxed by Thailand? Are there other ways to stay in Thailand long term maybe buying a small condo or something and continue operating my business as normal? 

I know this is not a Malaysian visa group. But if anyone knows if the MM2H visa would be a better fit given my situation I would like to know about that as well.

Also what happens if you lose your passport with the Elite visa and if you get the 5 year can it be extended to the 20 later on?

Thanks for any tips or help!

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TLDR : Answer Summary

The user seeks advice on obtaining the Elite visa for living in Thailand while continuing to manage a foreign business. They are concerned about tax implications and want to avoid taxation by Thailand. They inquire about other options for long-term residence, such as purchasing a condo, and whether the MM2H visa might be a better fit. The discussion includes suggestions to consult with tax professionals, concerns about the legality of working on an Elite visa, and explores other visa options like the Non-Immigrant B visa for work.

James ********

Good Luck in your quest ...commenting closed.

5 years ago

Robert *******

As there are different views I will share mine: "Are there other ways to stay in Thailand long term maybe buying a small condo or something and continue operating my business as normal? "This part out of your question is a simple: Only one option and that is the Non Immigrant B visa and Work Permit, where ever your customers are, where ever you register companies, you are simply not allowed to engage yourself in any work or profession while being in person inside Thailand, without mentioned documents. I know that all the digital nomads are going to shoot me, it is always the messenger who is the one to shoot in stead of reading or discuss the Thai law. What most of them do is as long they are under 50 years of age, use all kind of visa's or the Thai Elite Visa which are employment prohibited, means take the risk, which is low, but some get arrested, fined and deported.

5 years ago

Robert *******

i'm not going into that discussion, sorry. i know you go all the way to tell that putting the ham/cheese sandwich in your basket and buy it is a economic activity and therefor a work permit is needed. There is a rule, read it and if you not understand, visit your local Ministry of Labor and sit down with their staff and ask if what you do needs the work permit. Cutting the grass around your house is not working, doing this with machine for the whole street is a different story. Sending an e-mail to your company how beautiful the beaches are in Thailand is something different than signing every income order and take care the finances, staff and the whole company while sitting on that beach.

5 years ago

Sergejs *********

@Robert ******

...and work means hear any productive economic activity, i.e. rendering of services or production of goods, gainful or not

5 years ago

Reply to

Sergejs *********

Benjamin ******

Your *BEST* (and most legal) option may be to open a Treaty of Amity business.

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I don't know what the tax implications of doing that would be; talk ti a tax lawyer and the US State Department if you want to go down that route. But I think it *MIGHT* be what you're looking for.

5 years ago

Tod *********

As long as you're NOT running your business HERE inside thailand (as in generating income from INSIDE the country) I'd say you should just keep your head down, STFU and get what ever visa you want to stay in thailand.

The decision to stay here has nothing to do with doing business here. You aren't, you stated your company runs in another country and doesn't do anything here

5 years ago

Tod *********

talk to the Elite people and see what they say, They speak english fine, and should be able to answer your questions.

5 years ago

Scott **********

Your situation is complex enough that I am going to suggest that you wait until morning in Thailand when one or more of the admins will give you excellent advice. I will say that rather than stressing about tax, you will need to consider what if any visa would allow you to legal from Thailand. You can check with the Elite program folks but I THINK but do not know for sure that when you pull back the layers the underlying visa is classed as a tourist visa which does not allow work from Thailand. Many digital nomads work with a tourist visa as it is not strictly enforced but it is still illegal.

5 years ago

Martin *********

Your best option is to pay tax in thailand. Very low tax rate and foreign earnings are tax free if you don’t remit it into thailand

5 years ago

Martin *********

I don't think any type of visa would actually permit him to work in Thailand under his present circumstances. But the profits from the company can be paid as dividends which is classed as passive income, same as the income from stocks and real estate. If you're in Thailand for more than half the year you have to pay tax on all money you bring in to the country, and passive income is not incompatible with the Elite visa or any other visa. It sounds like the OP is more concerned about the tax situation than the visa, so since this is a forum about visas it's probably best if the OP seeks tax advice in a different forum.

5 years ago

Tito *********

@Martin ********

what visa would fit him ? Honestly curious

5 years ago

Reply to

Tito *********

Dave *******

I would suggest you need to engage a tax accountant to discuss potential implications of you residing in Thailand. This page is relating to visa related questions ,outside the elite visa which is a specific program

You could contact them relative to their programs.

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5 years ago

Reply to

Dave *******

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