Your company needs to be 51% owned by a Thai national, employ a minimum 4 Thai nationals and pay their social security. Then you can get a work permit and non-imm type B visa. But to be successful you need products people will buy. Thailand already has fast food from almost everywhere in the world, and produces some of the world's very best at its own street stalls
But .... but .... surely there's a rule written, so I can quote it and have an argument with Brian, because he has no right to have a bad hair day when it disturbs my perfect life and ....
I understand that is true of the DTA with the USA. But citizens of each country need to check what's in their DTA. The UK, for example, only certain government pensions are exempt from Thai income tax. And I mean civil service, health care & teaching (in public sector health/education), local government, etc are exempt. Occupational pensions in the private sector, and the state pension, are not exempt 🤨
It's worth understanding the impact. And you've probably done this for yourself already. I'm from the UK. I have state and private pensions, none are exempt from Thai tax under the DTA with Thailand. If I transferred 65k a month, the minimum required to extend my stay each year, and that happened to be my only income in the UK, I would have paid £1,060 tax in the UK. If I have no other income in Thailand, Thai income tax due would be £1,500. This is mainly due to the higher personal tax free allowance in the UK. If I brought in much more (or if the proposal to tax all global income became law in Thailand) the higher UK tax rate of 40% would mean I had already paid more than the Thai income tax due, so no more would be payable. For most people it's a storm in a teacup.
Hi Ruth. I opened my first account in Bangkok when I arrived in August 2023. No certificate needed (and I'd never heard of such a thing) having letter from my hotel confirming a long term booking. But it took 2 days of back and fro to the bank to persuade them to do it. Opened a second account in Pattaya a couple of months ago, used a Letter of Residency from the IO, the bank opened the account immediately with no quibble.