Best Visas For Long-Term Living In Thailand - Visa Advice | Mike Abroad

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Here's the best long-term visa options in staying in Thailand for years. Please subscribe for updates about visas, taxes, cost of living, tours, and interviews.
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This video is about the Best Visas For Long-Term Living In Thailand. But It also covers the following topics:
Different Visa Options Available For Expats In Thailand
Cost Of Living For Foreigner Expats In Thailand
How I've Stayed In Thailand For Over Four Years
Video Title: Best Visas For Long-Term Living In Thailand - Visa Options | Mike Abroad
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Опубликовано:

26 май 2024

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Комментарии : 86

@AbroadInThailand Месяц назад

Schedule a consultation call here: mikeabroad.setmore.com

@davidj7516 Месяц назад

Thank you for your time and posting. I'm going to check out Vietnam first to see if I want to retire there. I can retire to Thailand on a retirement visa with my SS and VA Bennies. So we'll see. Thanks again.

@AbroadInThailand Месяц назад

Sounds like a great plan! 👍

@MrShnazer Месяц назад

the requirement to pay tax on foreign income brought into Thailand applies specifically to Thai tax residents, regardless of their nationality. If you are a foreigner who is considered a tax resident in Thailand, you will need to declare and pay taxes on any foreign income you bring into the country after January 1, 2024. This includes income from employment, business, pensions, or overseas assets. Keep in mind that tax residency is determined by the Thai Revenue Department based on various factors, such as the duration of your stay in Thailand, your employment status, and other criteria. If you meet the criteria for tax residency, you’ll be subject to the regulations outlined in Revenue Order 161/2023.

@AbroadInThailand Месяц назад

Thanks for sharing this helpful information. Will need to keep this in mind moving forward..

@MrEye4get Месяц назад

@MrShnazer How do you know this information? A number of tax professionals and attorneys have clearly stated the details of these taxes are unclear and eventually defined. Although the Department of Revenue Order defines "tax resident," it does not cover how taxes will be calculated, verified (paid outside the country) and collected. Tax ID numbers would have to be assigned, international tax returns audited and a determination of how much, if any, taxes might be due to the Department of Revenue.

@paulkotze9852 Месяц назад

Been there done that and it seems nothing has changed... A Farang is still a walking Cash Machine. A 'Non B Visa' means you have to get a local Thai Partner who is automatically a 51% shareholder. It's up to you to find a Thai partner, which is rather tricky to say the least, they just see 'free cash machine'. The better option is to get 2 x Thai partners who do not know each other from a bar of soap and preferably live far away from each other - each with 25.5%, that way you're the majority shareholder. So the options are pretty limiting and the chances of losing your investment are pretty high, risky either way. And then there's the new tax... A Retirement Visa means you cannot work - be careful and do so at your own peril. In short, you can essentially live in Thailand if you have a lot of money in the bank or a great pension. Good luck.

@AbroadInThailand Месяц назад

Sorry to hear you had a negative experience with your business visa in Thailand.

@paulkotze9852 Месяц назад

@@AbroadInThailand Yeah, unfortunately too many horror stories. Friends of mine lost $2million within a year on investing in a resort, also due to Thai partners. I was lucky by comparison.

@MichaelMAuth Месяц назад

@@paulkotze9852imagine somehow having two million and yet being such a feckin idiot

@mick112 Месяц назад

Gotta love this guy. He starts out telling us he is not educated enough to give advice on the subject and that he will mis-inform us on the subject matter during the video. Then he asks the viewers to inform him when he is wrong. Then the cherry on top, he asks us to use his consulting services 😅

@AbroadInThailand Месяц назад

What are you on about? 🤔

@MrEye4get Месяц назад

@@AbroadInThailand Simply stated, there are too many non-tax experts commenting on complex topics they know little about.

@drfunkmaster Месяц назад

thank you for this knowledge

@AbroadInThailand Месяц назад

You're welcome!

@andrewbrann6231 Месяц назад

I love thailand. I wish it was like the Philippines where you could just stay 3 years by extending leave one day come back to start all over unlimited

@AbroadInThailand Месяц назад

Nope

@andrewbrann6231 Месяц назад

@@AbroadInThailand yeah well I've been to both places and I'll be going back to Thailand for the second time is October. I went 2 years ago. I like it better than the Philippines overall but due to the easy availability of being able to go to the Philippines I can't see myself ever living in Thailand. Where else in the world can you go somewhere and just extend your Visa for 3 years leave for one day to a nearby country come back and keep doing it over and over and over? There's not many places you can do that and that's a major plus

@calky360 Месяц назад

The elite visa scheme has three options now, 5, 10 and 15 years. 5 years is 900k baht, 10 is 1.5M baht, and 15 is 2.5M baht. Regarding the 90 day reports, you still have to do it, except you can just drop off your passport at their office on the monday before your 90 days is due and pick it back up on the friday (rather than go to immigration yourself).

@Freedom-33 Месяц назад

You can also do the 90 day report online …if it’s working… I got the old 20 year elite visa. One of the best purchases I ever made. It doesn’t make much financial sense now with the current prices (economically)

@AbroadInThailand Месяц назад

Good to know thanks for sharing!

@calky360 Месяц назад

@@Freedom-33 Yeah I got the old 20 year also :) Have you actually done it online before? I vaguely recall looking at this before and it didn't seem possible at the time.

@Freedom-33 Месяц назад

@@calky360 everytime i go into immigration they tell me to do it online, i try online, denies me with no reason and tells me to go into immigration in person. other people though, they have been doing it online or awhile now. I would try it online if you haven't. 15 days before the 90 day report.

@calky360 Месяц назад

I thought the method of buying a house under a company in which you have 49% ownership, was actually a bit of a gray zone and could potentially give you issues in the future.

@AbroadInThailand Месяц назад

Tbh it's not really an issue

@Stonefeather53 Месяц назад

Expats seem to avoid talking about the new regulation, but anyone that stays 180 days pays tax on all income brought into the country even if it is already taxed or tax-free in your country. Issued on 15th September 2023, Revenue Order 161/2023 mandates that from 1st January 2024, any and all foreign income, from all sources (whether from employment, business, pension, or from overseas assets) will be taxable in Thailand when it's brought into Thailand regardless of when it was brought into Thailand.18 Feb 2024

@smiley9987 Месяц назад

That s...s. Big turn off in general. They will become mord greedy with time. Just a matter of time.

@streetsharkz Месяц назад

Does this include capital gains?

@smiley9987 Месяц назад

@@streetsharkz Most likely yes...I assume. Almost all assets are capital

@mactravel112 Месяц назад

anyone EXCEPT LTR visa holders

@MrEye4get Месяц назад

"Foreign earned income" isn't defined. Over 69 Double Tax Treaties are in effect, specifying which pensions are excluded and aren't taxable.

@KaiAriesVlogs 9 дней назад

Hey Mike, can we start a 100% foreign ownership business after smart visa? Can we apply business work permit with that business later rather than a startup visa extension?

@AbroadInThailand 8 дней назад

Yes

@KaiAriesVlogs 7 дней назад

@@AbroadInThailand thanks☺️

@vanhalen45 Месяц назад

How detailed is that 90 day report? Is it a one pager that can be done easily online? Hope so.

@AbroadInThailand Месяц назад

Yes it can easily be done online

@johnnybgood3909 Месяц назад

if you qualify for a marriage visa that requires 400k in bank, i advise you go the retirement visa route. That way you are not required to leave the country if the relationship ends.

@AbroadInThailand Месяц назад

I'm 37 therefore don't qualify for the retirement visa.

@johnnybgood3909 Месяц назад

@@AbroadInThailand i was referring to anyone in general, not yourself.

@AbroadInThailand Месяц назад

@@johnnybgood3909 Ah gotcha

@kirito_kun1227 Месяц назад

Is there a way to have permanent residency in Thailand? And on what occasions can they be removed?

@AbroadInThailand Месяц назад

Yes you can secure permanent residency

@kirito_kun1227 Месяц назад

What are the requirements? In my case I don't think I will achieve nationality

@AbroadInThailand Месяц назад

@@kirito_kun1227 www.thaiembassy.com/thailand-visa/permanent-residence-thailand

@JR-eq6jz Месяц назад

As a person that’s lived in Thailand a couple times. I love the country but after 2 months I just can’t stop thinking about the desert and hiking in the mountains without passing out from heat. It’s really not an all year long place.

@AbroadInThailand Месяц назад

To each their own

@pepeee548 Месяц назад

If you want to work freelance there and stay long term doing multientry and are under 50, is TRICKY, i dont trust fake sponsors as might be questioned or become fraud, so the best is open a company, but these firms will put you the thai staff and you still own 49% plus is very expensive to pay the whole set up, vat, taxes, etc, they quoted even 200k the first year. Very tricky

@AbroadInThailand Месяц назад

Thanks for your comment

@brentonlett3417 Месяц назад

All that just changed the next day, forget everything he says here. New visa rules.

@AbroadInThailand Месяц назад

The new visa is technically not official yet

@brentonlett3417 Месяц назад

@@AbroadInThailand people will be coming into Thailand as of 12am today getting 60 day visa exempts on arrival !

@fhtrucker62 Месяц назад

I think it is either 800,000 in the bank, or, 65,000 monthly. Not both. But maybe it’s changed again.

@AbroadInThailand Месяц назад

Yes you are correct. It's any of the following: - Deposit of THB 800,000 in a Thai bank account for two months before the visa application - Monthly income or pension of THB 65,000 - Have a combination of annual income, pension or deposit of at least THB 800,000