@Tori *******

again, there’s no income requirement with DTV. Just sufficient bank balance

For Chaeng Wattana, TM30 and passport/visa/entry stamp. Then they mail it by post to TM30 registered address. 200b

They didn’t care one bit about my condo lease,

Wat I did:

- book appointment for Neurosurgeon at a Bangkok Hospital online, received a pdf confirmation.

- applied and received DTV in Jakarta with, medical appointment, bank statement and passport.

Im under legit treatment. But at least in Jakarta all I needed was a single initial consultation appointment

@Sam ********

“so, do you mean.... if i have 100k invested pre 2024. 10k was unrealized capital gains pre 2024. and capital gains from 2024 was say 20k. if i sell all and remit to thailand in 2024 the asessabile parts would be the 10k + 20k for thai personal income tax? .

when you said to "reset" it was something you did priot to 2024 because to reset now would not make any difference in terms of thai tax when remitted.”

I think you are misunderstanding. (Or I’m misunderstanding you) I did the reset recently, I’m not currently tax resident, but will be in 2025. (I will also bring on enough money to bridge me trough next year before NY, so I don’t have to pay tax until 2026, but different subject i guess. Anyhow:

By selling/rebuying before becoming tax resident in Thailand, you reset capital gains to zero. As you realized them and re-invested. Only gains from that point on would be taxable when remitting to Thailand in the future. (CGT reset)

- so say you sell and rebuy right now. (Assuming not yet thai tax resident) Now your capital gains is zero from Thailand perspective.

- in 2025 you make 10% gains

- you sell some of this and remit into Thailand while at 10% gains (since reset) Say 1 million baht.

- now only 10% of this was actual gains. (10% up from start price) So you only calculate tax against 100k baht. Which is zero % (0-150k is 0%). So zero tax on 1m baht remitted if gains are 10%

in your example you have total 30k capital gains. But how much is the % gains from your total holdings? (%gains from original purchase price) Even if its 30k, if thats only 10% of total holdings, you calculate tax based in 10% of the amount you bring in.

Not sure how to better explain.

@Sam ********

“also am i correct to think that even when i am a thai tax resident i can still sell my uk stocks without it being taxable in thailand until i remit?”

Correct

@Sam ********

when non tax resident it’s simple, no tax paid in Thailand.

@Sam ********

correct, but as of 2024 when you bring it in to Thailand it would be assessable. You would calculate how much % of the remitted money was profit from original investment.

But yes, with current rules only when actually bringing it into Thailand. (Assuming thai tax resident )

There are talk about Thailand moving to global income tax, but just talk for now. Thailand has a remittance based tax system

@Sam ********

From Thailands perspective, no tax for any money brought in within a year you are not tax resident in Thailand. Regardless of source.

What I mean is, before im thai tax resident:

- I sell my investments to cash.

- I buy back again immediately

- Document it

Next year when I am Thai tax resident, the CG are calculated based on the new buying prices. So “resetting” capital gains to zero by selling/buying. This then is the starting point for any future profits taking while tax resident in Thailand when remit said profits.

And yes, needs to be done outside Thailand. And can only be done before becoming Thai Tax resident.

Im not remitting the investments themselves to Thailand. But when i remit future profits as per spending need, the “reset” significantly reduces taxes.

I can for example keep my investments on IBKR and Kraken for example, and change my address to Thailand. From a Thai perspective that investments are still overseas.

Theres no way i would trust my assets with a Thai broker. And I prefer “self custody” to avoid fees eating at gains.

@Steve *******

I understand your point. But technically it does apply to you as well. Despite the end result is no tax for you in Thailand.

You would likely get away with it, unless your bank start requesting tax information like some are starting to do.

Not my “buddy”, and I didn’t pay 12k. But I would agree there’s no need to use a tax advisor to submit a return with just income to report. But again, technically you are also supposed to submit starting 2024.

In 2025 I wont don’t pay taxes to Thailand, but I do plan to submit my pension with dutch tax credits. This will avoid me getting into trouble when i later start bringing in capital gains income.

Anyway, i get your point. But I wouldn’t risk ignoring the new reporting requirements. Especially with the new banking report requirements. Thai RD has been given a massive budget to implement and enforce the new rules.

@Steve *******

Haha, good luck with that 😁

Every Thai person I know that gets a salary paid to a bank account pays tax (obviously). Same with business owners that run their cash flow trough banks. Undocumented cash is hard to audit in any country, not just Thailand.

Thailand isn't some 3rd world country.

I do admire your willingness to take risks for the sake of saving 30 minutes though 😆