very true and the ato is very strict with their monitoring just like the UK and US. do you also know there’s an offshore investment that is completely tax free for Aussies after 10 years
why would retain tax residence in your own country if it’s a less favourable situation
I’m not getting into full ins and outs here please accept that as This has been my job for 25 years and I’m internationally qualified to do so.
It’s just here so many keyboard warriors not that I’m suggesting you are one but there are and then all sorts of peoples opinions rather than than fact.
ok firstly I’m not selling anything. Secondly yes you are right it is about being classed as a tax resident and that does involve 180 days in a calendar year. You don’t need to open a Thai bank account and you can’t be taxed here if you don’t exceed the 180 days a year correct. However the majority of people do fall into that category
and also they don’t have licenses they piggyback on others which means technically they aren’t even their clients. There’s so many dodgy ones out here it’s awful to be honest but one client at a time I’ll get there with doing it the right way
oh yes the investment products that are rightly not allowed in most regulated markets but offshore is different. I’ve only ever worked in the UK the most regulated market and my advice to my clients offshore is exactly the same just with more tax advantages now
There’s only a few good advisers here in all truth but for me the most important thing is and the reason I am where I am is that in the unlikely event the client has a complaint then in Asia there is only one independent wealth management firm who is part of a U.K. plc so there is recourse for clients should they ever need it.