pathumseb
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Post by pathumseb on Jun 7, 2016 21:36:27 GMT 7
Some kinda ASEAN agreement only alas.
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Post by rgs2001uk on Jun 7, 2016 21:43:58 GMT 7
^^^^ why not open a $$$$ account in Singapore or Hong Kong?
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pathumseb
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Post by pathumseb on Jun 7, 2016 21:47:06 GMT 7
How easy is that? My saving may hit the tax free threshold in the UK soon and it's a bill I would rather not pay. This will be the first time I will be in a position to buy a property and I'm keen not to lose money on taxes needlessly. As I understand it, the money has to come from outside of Thailand to buy a condo,right?
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smokie36
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Post by smokie36 on Jun 7, 2016 21:58:33 GMT 7
How easy is that? My saving may hit the tax free threshold in the UK soon and it's a bill I would rather not pay. This will be the first time I will be in a position to buy a property and I'm keen not to lose money on taxes needlessly. As I understand it, the money has to come from outside of Thailand to buy a condo,right? You can easily open a HK account Seb...I'm sure someone will be along shortly to tell you all about it.... |
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Post by rgs2001uk on Jun 7, 2016 22:16:56 GMT 7
How easy is that? My saving may hit the tax free threshold in the UK soon and it's a bill I would rather not pay. This will be the first time I will be in a position to buy a property and I'm keen not to lose money on taxes needlessly. As I understand it, the money has to come from outside of Thailand to buy a condo,right? Dont understand, does not compute. I pay no tax on my UK savings, I am classified as Not Ordinarily resident for tax purposes, filled in a form at the bank and that was it. The rates these days are so low it hardly makes any difference. Where is Fletch when we need him? |
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pathumseb
Crazy Mango Extraordinaire
I found you at last!
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Post by pathumseb on Jun 7, 2016 22:55:00 GMT 7
^ This is great news, thanks
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Post by rgs2001uk on Jun 7, 2016 23:12:44 GMT 7
P 85 I think is the form name, every bank should know it.
Fletch, where are you?
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Post by Soutpeel on Jun 8, 2016 6:23:21 GMT 7
How easy is that? My saving may hit the tax free threshold in the UK soon and it's a bill I would rather not pay. This will be the first time I will be in a position to buy a property and I'm keen not to lose money on taxes needlessly. As I understand it, the money has to come from outside of Thailand to buy a condo,right? Hold on...you don't work in the UK do you ?...unless your income is UK sourced, those thresholds don't apply to you if your non-resident. The only thing they could tax you on is the interest on the account, so unless your holding significant dollars in savings account in the UK to exceed the thresholds due to interest payments, which I believe is GBP 11k/year, you will not pay anything. |
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Post by Soutpeel on Jun 8, 2016 6:26:56 GMT 7
How easy is that? My saving may hit the tax free threshold in the UK soon and it's a bill I would rather not pay. This will be the first time I will be in a position to buy a property and I'm keen not to lose money on taxes needlessly. As I understand it, the money has to come from outside of Thailand to buy a condo,right? You can easily open a HK account Seb...I'm sure someone will be along shortly to tell you all about it.... Singapore is relatively easy as well, but recently they have increased the opening balance minimums to open an "offshore" account and I think its Sing $ 200k for current account, and USD 100k for "on line" savings accounts, all due to pressure from the Septics HK used to be as simple as walking in with your passport and cash in hand |
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pathumseb
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Post by pathumseb on Jun 8, 2016 7:25:36 GMT 7
Thanks for all the banking info! Appreciate it, looks like Singapore will be off the cards- won't be even close to 100k in USD. Mulling buying a derelict condo block and calling it TEFL Towers or Pikey Plaza. I'll have to see if Archa will let me hook up the mains water to their brewery.
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Post by Soutpeel on Jun 8, 2016 7:51:25 GMT 7
Thanks for all the banking info! Appreciate it, looks like Singapore will be off the cards- won't be even close to 100k in USD. Mulling buying a derelict condo block and calling it TEFL Towers or Pikey Plaza. I'll have to see if Archa will let me hook up the mains water to their brewery. First thing I would be doing is checking your tax status in the UK, if your clear of any possible tax liabilities in the UK by virtue your non-resident and have no UK sourced income and any interest is below the tax thresholds, your as good as banking in the UK as you are in HK or Singapore to honest, the fact your holding USD, even if the GBP tanks because of Brexit, it will not affect you |
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Jan 4, 2023 21:15:53 GMT 7
Jan 4, 2023 21:15:53 GMT 7
