that's what I thought also, until I was very badly mistreated at Don Muaeng a couple of months ago. Shouted at, threatened to be deported, put in a small room with a bunch of other foreigners, and forced to buy a ticket out of the country with not much explanation. 🤷♂️
Anonymous participant 561 well, if I'm not mistaken, tax liability applies to income earned as of Jan 1st 2024. Anything earned previously is exempt. Moreover, Thailand approved a 5-year exemption on capital gains from crypto (2025-2029) which is a blessing for those with a Thai bank account 🙂
Anonymous participant 876 oh, okay. You said deposits. In that case, I would agree with you that they could raise suspicions. In my case, I have frequent bank transfers which I can prove they come from investments from abroad.
Hmmm... I never thought they were so strict nowadays. That's weird because I even had my account restricted at some point last year and after making a video of myself holding my passport they let me continue using it again as usual.
I don't know, maybe they have new requirements to open new accounts? I only used my passport. No visa or work permit required, but I opened my account with them at least 6 years ago.
Anonymous participant 908 having a Thai bank account allows you to cash out crypto on a Thai crypto exchange. In my case, most of my savings are in crypto and I don't have any source of income, so it's very helpful and saves me a ton in fees. If I had only Wise it would cost me 3.5% in taxes to convert from my country's currency to any other foreign currency. Also, Wise only allows me to withdraw around $300 USD from ATMs outside of my country. Any amount above that is charged extra 1.75%.