Will banks in Thailand require a Tax Identification Number (TIN) for foreigners opening accounts?

@Andi **********

Exactly. There is not a ban. The banks just want a certain visa type and the correct paperwork. These are private and not government owned banks. Banks are just making commercial decisions.

@Andi **********

Pal of mine here in a Visa Exempt opened a bank account here last week and did not pay a visa agent. He bought a condo in same complex as me. Real Estate Agent took him to a bank. He opened an account and transferred the money on to buy the condo. Money hit the bank on Monday. Deal signed and he moved in Tuesday. Commercial decision. No ban according to Visa type.

@Andi **********

Yeah. I think it was 10 million THB transferred :-)

@Andi **********

Exactly. Many of the accounts make no commercial sense to the banks. They are a cost and not a profit centre to them. As regulations become more onerous ie CRS, it makes even more sense to pick and choose customers. Banks are not charities.

@Andi **********

I was in UK last October and in a branch to change my Thailand address. I know they have never asked for my Thailand TIN. My Singapore accounts have never asked for it either. One bank I Thailand might have it as it was opened with Work Permit but the day to day one does not have it. Opened on Retirement Visa.

@Andi **********

Non O - I know a lot are closing to expat. HSBC are fine up to now. Not much in there but I like to keep it open. It goes dormant due to non-use but I activate it on trips to the UK :-)

@Andi **********

I am waiting to see lay of the land with DTV - I am in no hurry as have 7 months on the "O". Might even be going for a BOI Startup Visa.

@Andi **********

These privileges are good too. 17% flate rate of tax. My last BOI Visa came with a 15% flat tax rate - makes a hell of a difference when your monthly salary is higher than most English teachers yearly salary 🙂

@Andi **********

We are just bouncing ideas around at the moment. The "S" and we are in a targetted industry ie Health Hub. I have almost 20 years in New Product Development (Project Management) and Clinical Development in Pharma and Medical Devices. My colleague has similar and he is a world renowned Oncologist with many published papers. He has senior Thai Dr contacts and Professors - they would be on the advisory board. chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/%8-smart%20visa-EN-125__.pdf

@Andi **********

They really want telemedicine etc. It is up to my pal though. He has just been at a start-up that failed to get a drug to market. Which has knocked him back a bit and I think he would prefer a big pharma with oodles of cash again. I worked with him at Big Pharma and remember the vaccine failing at the last hurdle. His team had to split up. Then he was leading one of the most successful cancer immunotherapy launches in Asia. It is peaks and troughs in that area.