is Thailand's online newsletter for expats and foreigners living in Thailand and neighbouring countries. It is the only such visa guide to border openings and up to date info on companies, immigration laws and changes to various laws in Thailand. It is also a source of useful information on dos and don'ts if you are in business in Thailand.  

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NEWS FOR AUGUST 2001 
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Mae Sai IS OPEN & ALIVE AGAIN? It looks brighter than ever. For info call (053) 277-510 ChiangMai or (053) 731-008 
Mae Sai (055)563-002-4 
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WORK PERMITS: 
Pattaya offers a reward if you know someone working with no work permit so remember if you are working get a work permit. If your'e behind a bar washing dishes this is deemed work? There are now new requirements for work permits so if in doubt you can obtain a copy from your nearest Labour Office but the big change is you must register for VAT.
www.asiatradingonline.com/workpermits.htm 

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VISAS TO RISE: The govt is meeting to decide which countries will now have to pay for Visas on entry. As there are sufficient Thai consulates around the world they need to look at reciprocal means of charging certain foreign countries entering Thailand. Countries who charge Thailand on entry will now be included eg. NZ charges Thais 1800 baht on entry so they will have to pay coming to Thailand we think?.

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ํ YOUR THAI LIMITED COMPANY: IS IT SAFE
If you have a Thai Company with Thai nominees as 1% shareholders, then paid them off,be warned. A new Alien Business law was passed on March 3, 2000 and you could find yourself in deep water. The New Alien Business Act stipulates that “Any Thai national or Thai juristic person who provides assistance or holding shares on behalf of the alien, including an alien who allows Thai nationals or juristic person to conduct such act shall be subject to not more than 3 years imprisonment or fine of Thai Baht 100,000.- to Thai Baht 1,000,000.- or both imprisonment and fine”.
Remember if you run at profit mode you must pass that % of profits to all shareholders
including the nominee Thais "no longer in your company" that you paid off or your lawyer so happily provided you with. If you are in this category --- do not think your lawyer will bring his staff out to help you when they visit you & him and find his staff are also on another 50+ companies? You may consider transforming from a Thai company to a foreign company or doing something about it now as you will be investigated sooner or later.Don't say we never warned you !!!!!!!!!!!! as each day the tabs on you get betterand better---- computer tech I mean!

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STOCKS & SHARES: You no doubt read where 85 foreigners arrested for working in Bangkok defrauding folk out of life savings. If people solicit you for shares/stocks do some simple research. If the person is from your home country write to your Trade wing of your Embassy as they will help you or email: www.sec.or.th or tel 022567708. A simple 
check to see if the Company is licensed. Why lose your life savings from phone calls & scams by fellow countryman wanting to liveon everyone else. Check out the bad companies on www.asiatradingonline.com/stockscam.htm as we have permission from the ASIC Australian Securities & Investments Commission to publish world wide bad guys.

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VAT TAX: When applying for a work permit you now need or your company needs to be registered for VAT tax. VAT rated at 7% is paid monthly .When you  pay your monthly VAT a receipt of payment 

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NEWS FOR JULY UPDATE 2001 
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Mae Sai IS OPEN & ALIVE AGAIN? but for how long. For info call (053) 277-510 ChiangMai or (053) 731-008 
Mae Sai (055)563-002-4 Mae Sot The Thai flight,45 mins from Chiangmai ,costs just 765 Baht one  way. It's very scenic as the pilot flies at around 14,000 feet over forests It's 15 mins and 40 Baht to town solo. Motorbike samlor to the bridge cost about 100 baht return if the driver waits. The Burmese charge 500 Bt or US$10 to cross and are pretty friendly,as are the locals. Recommend is the Phon Thip Hotel. Rooms from 250 to 700 BHT. 450 for aircon and TV with CNN. It's right in the heart of town,  near banks, restaurants,a few bars, etc. Mae Sot is very clean, few beggars and prices are low. Highly recommended for a visa run.

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WORK PERMITS: Contrary to what a lot of people may think to obtain a workpermit, this must be done in Thailand. You also need a non immigrant B working visa.In Pattaya we have heard theres a reward if you know someone not complying so remember if you are working get a work permit. If you possess a non immigrant B visa & have a multiple stamp then you need to take your blue book with you to the border just in case they ask for it. Do this BEFORE you go to the labour Office & you must take to the Labour Office the day of your expiry stamp  NOT the day you renew at the border & definitely not later. Thus it pays to renew your visa a few days before going to the Labour Office.
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There is considerable variations with 1 year retired Visas & each case it appears is different. Some pensioners are being told they now need more money. The rules say 65,000 baht a month income but one retiree was told he needed 80,000 baht?? Unfortunately Immigration has there own rules. 


VISAS TO RISE: The govt is meeting at the end of the month to decide which countries will now have to pay for Visas on entry. As there are sufficient Thai consulates around the world they need to look at reciprocal means of charging certain foreign countries entering Thailand. Countries who charge Thailand on entry will now be included eg. NZ charges Thais 1800 baht on entry?

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THAI INCOME TAX CALCULATOR 2000 
Is Thailand a Tax Haven! Are you paying the right tax this month & every month?Check how much income tax you will pay in Thailand. In cooperation with Thai-accounting.com you can now calculate your monthly income tax. Just click:
http://www.thailand-accounting.com/income tax.html   Remember too VAT must be paid monthly & your companybooks must be audited yearly. Costs per average small/medium company = 7500 baht per annum.

When you register for VAT you will receive a graphic designed certificate. Same with Company register Cert. Always take photocopies & do not put on your wall. Use the photocopies & put the originals in safekeeping. REASON: only approx 20% Thais pay income tax & a VAT cert is ideal to steal, copy and resell??????

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BANGKOK TRADER NEWS is set to circulate in Bangkok shortly. Outlets will be published in a special newsletter.
Complete buy, sell, exchange virtually anything. This FREE publication will be of interest to traders,business & services, expats & Thai businesses. Written in English with sections from Computer sales to cars,aircraft, employment, exports & anything else one cares to advertise. Send your free private ads to bangkokad@asia.com All business ads are paid ads & the advertising rates are cheaper than any other mag. Need more info then write to them bangkoktrader@asia.com as the Bangkok Post rates & Pattaya Mail have just increased. A good alternative especially when private ads are FREE.

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New Dialing System 
Don't forget that Thailand's telephone dialing system has changed. In order to serve the growing demand, fixed line and mobile numbers will now be reached with an 9-digit number so if upcountry the new (053) 222-222 will
be now 053222-222 & Bangkok (02)2222222 will be 22222222

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NEWS FOR JUNE UPDATE 2001

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The borders are still volatile especially Burma (Myanmar).If you are travelling to Mae Sot or any other border to renew your visa ask reputable travel agents or telephone the Immigration on that border.They do speak English. Mae Sai is STILL closed.For info call (053) 277-510 ChiangMai or (053) 731-008 Mae Sai (055)563-002-4 Mae Sot. If using Chang Khong & travel agents to process your visa the head of the Laos Immigration are veting passports to make sure the owner & not the agent is processing the new visa. This may change as it was just reported to us.

WORK PERMITS: Will increase soon? as the bill was passed by the lower house 274:3. A rise from 1000 baht to 10,000 baht. Foreigners will also pay the same price for renewals or extensions and 5000 baht if you change jobs & 3,000 baht for a WP substitute. The form will cost 100 baht we are told. Whats more when you apply for a work permit now you must or I mean your company must apply for VATand not an ID tax code. Needles to say theres even more to come yet- tourist visa fee rises!!!! Go to: www.asiatradingonline.com/workpermits.htm for more info.

COMPANIES: A 2m baht company allows you 1 foreigner with work permit. However if you were told its 3m baht for 2 work permits, WRONG. It is 3,000,001 plus baht. ( 1 baht difference). Take note if you decide you want a company with 2 foreign workers.

BANGKOK TRADER NEWS is set to circulate in Bangkok at the end of July. Complete buy, sell, exchange virtually anything. This FREE publication will be of interest to traders,small business, expats & Thai businesses. Written in English with sections from Computer sales to cars, aircraft, employment, exports & anything else one cares to advertise. Send your free private ads to bangkokad@asia.com All business ads are paid ads & the advertising rates are cheaper than any other mag so if you get in before the next 3 months your rate doesn't increase--how's that for value. Need more info then write to them bangkoktrader@asia.com  as the Bangkok Post rates have just increased. A good alternative especially when private ads are FREE.

HAD UP FOR FRAUD: If you've been had by fraud in Thailand and don't discover it until you're back home, go to http://www.mfa.go.th/foreign/default.htm. This will permit your embassy in Bangkok to represent you. The Royal Thai Police site is http://www.police.go.th/. Or write: Operation Center, Central Investigation Bureau, Royal Thai Police Headquarters, Building 8, Room 304/1, Unridunant Rd., Patumwan, Bangkok 10330, Thailand. The Central Investigation Bureau e-mail is (cib@police.go.th ). But see it to believe it if you know what I mean?? If you think your credit card was stolen or zapped do a check on it. Some CC companies will not bill you if you go to another country & report it was zapped as long as it wasn't used again in Thailand. Famous is Khao San safety deposit boxes & cheap Guesthouses where cards are taken while on treks then replaced.

No problems except Mae Sai where depending on which watch is on duty some long termers have been told not to come back. However they have returned to find the better staff on duty. Laos non immigrants visas runs you can only obtain a single entry. If doing a "B" visas make sure your papers (including bus papers are in order). They are fussy in Vientiane. The Thai Immigration Bureau is now being more diligent in keeping tabs on expats living in the Kingdom. Several tourists and expats is now spending their time in the Immigration Detention Center awaiting deportation from Thailand. Beginning this week the Immigration Bureau in Bangkok will make severe checkups with overstayed foreigners in the Bangkok Metroplitan area. If you are on overstay, which is a serious criminal offence in Thailand, clear it immediately direct with your local Immigration office, or call us for more information, telephone (02)664-0400.

THAI PERMANENT RESIDENCE BANGKOK: The Immigration Bureau has issued a reminder that, barring the remote possibility of an extension, June 30 is the deadline for foreign investors to apply for “special investment” permanent residence status in Thailand. Normally, those applying for permanent residence must hold a non-immigrant visa and reside in Thailand on a one-year-visa extension basis for three years consecutively. The period for applications varies from year to year, beginning sometime in October or November, and ending on December 31. These permits are rare; the current annual quota is just 100 people of any one nationality. In contrast, a quota of 5,000 over a three-year period was set for “special investment” residence permits. Applicants for these permits need only provide proof that they have made a minimum investment of 10 million baht in a business that benefits Thailand, in bank deposits, or in the purchase of a condominium, shares, or government or state enterprise bonds. The investment must remain in Thailand for a minimum of three years. Despite the three-year period allowed for applications, there have been only about 600 approvals so far. Source:  Phuket Gazette

The Immigration has rescinded steep rises in visa and other fees which were introduced recently. The rises, which quadrupled the existing fees, were contained in a new immigration law brought into force a week on November 12. However, a subsequent notice from Immigration headquarters in Bangkok on November 29 ordered the new fees to be put on hold until further notice in light of “inappropriate timing and the current situation in Thailand”.When the new fees are approved, they will be as follows (current fee in brackets).

1. Visa on entry (visa on arrival) Single entry: 2,000 (500) Double or multiple entry: 10,000 (500)

2. Fee for appeal against refusal of a visa: 2,000 (500)

3. Application fee for extension of stay: 2,000 (500)

4. Fee for appeal against refusal of extension of stay: 2,000 (500)

5. Application fee for additional re-entry to Thailand

Single re-entry: 2,000 (500)

Double or multiple re-entry: 5,000 (500)

6. Application fee for Residence Permit: 8,000 (2,000)

7. Residence Permit Booklet for an alien: 200,000 (50,000)

8. Residence Permit booklet for an alien married to a Thai citizen or to a foreigner who already holds a Residence Permit holder, or for an immature child of aliens who already hold Residence Permits: 100,000 (25,000)

9. Fee for re-entry endorsement in residence permit: 2,000 (500)

10. Residence Permit Booklet for residents who have lived in Thailand since before the Residence Permit Law was enacted: 20,000 (5,000)

11. Fee for replacement/renewal of Residence Permit Booklet 2,000 (500)

12. Application fee for proof of Thai nationality: 800 (200)

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JOBLINE: New service just started.If you are looking for work then post your FREE ad.Foreigners welcome. [ Employment ads ]

JOBS AVAILABLE: Yes now we have jobs available in Thailand. [ Jobs available ]

BUSINESSES FOR SALE: Again another service that you may wish to view. Businesses all over Thailand for sale, rent or lease. You can now sell your business for free. [ Business sales ]

Join one of the best paying affiliates just launched: If you want to increase your pocket money, you can tell your friends about BePaid.com http://www.bepaid.com/users.rhtml?REFID=10796498

While Mae Sai is closed Chiang Mai Immigration are busy with folk applying for extensions. Get there as early. Chiang Khong is a good alternative. Catch a minibus for 190 Baht (from CM), but you have to stay overnight on the Thai side. If you catch an early bus to Chiang Rai, then catch the Chiang Khong local service you can do it all same day. But why not stay a night in Laos or in the Nam Khong guesthouse at 150 bt. Very good value and nice folk. The main point to watch is: the closer you get to Laos the dearer the visa becomes. Get your visa in Chiang Mai four days ahead and pay only 700 or 800 Baht, otherwise you could pay double. Don't forget the two passport photos.www.asiatradingonline.com/visas.htm

For info call: (053) 277-510 ChiangMai or (053) 731-008 Mae Sai

EXTENDING YOUR VISA: Your visa can be extended by one month in Thailand. In Chiang Mai, Pattaya, Phuket etc, go to the immigration office. The extension fee is 500 Baht. After this month expires it is still possible to re-apply for yet another extension (same fee). You get an "under consideration for X days" stamp endorsement, another one when you return (after crossing into Malaysia,Myanmar or Laos) after X days (no fee) and finally a "must leave country in X days" endorsement. This will give you approximately 30 days more. To enter Laos you can get a visa at the border towns of Chiang Khong or Nong Khai, but not if you are American! You can also obtain a visa in Chiang Mai. In Chiang Khong -the best and cheapest hotel is the Namkhong Guest House which also has a reliable and trustworthy travel agency by the same name. From this hotel you can actually see the Laos town of Huai Sai across the Mae Khong River from where you travel onwards onto Luang Prabang in Laos.

BUSINESS VISAS: Yes these are available if you want to apply for a business non immigrant year "B" visa which allows you to stay in the kingdom for 1 year. However you need to be in a company or partnership to apply and able to show your last year's balance sheet & VAT return. The catch is have a good accountant? to process the 50 odd pages (duplicate) required. The main requirement is you need to pay yourself a salary of min 35,000 baht per month which you pay tax on monthly approx 1700 baht. However it is Bangkok who will set the salary!! as it may differ--- is it worth it---thats up to you but if your business is profitable then this is a consideration & no more visa runs every 3 months. After a year you do the whole thing over again. Guidelines & requirements are available in Thai from your nearest immigration Office. Follow the steps.

Again the Thai embassies are changing the rules. You may now be asked not only a letter of introduction but also copy of shareholders registered and if you are a shareholder then company papers & letter saying you are a partner. It pays to take all your company papers plus letter' (s) (company stamped with letter head) as it can be a hassle. The reasons --- Thais are being restricted from entering many Western countries on tourist visas today eg. USA, Australia, NZ, Britain etc due to past abuse which in turn. Thais have reciprocated by changing their rules. If using Visa companies in Thailand to process your non immigrant visa be careful as any anomolies you will be stamped posi non grata & once black listed you will not be able to return to Thailand. Once on this list it's hard to get your name off. You will also be stamped if found to be working in Thailand illegally.

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VISA SPECIAL: BAD NEWS STILL The border at Mae Sai is still closed & the army are digging in on the border. If one requires a new visa please write to us as we are looking into using a Chiangmai Agency who is presently travelling to Laos if using the North borders.www.asiatradingonline.com/visas.htm

December and January were bumper months for the Post Office -as far as lost mail was concerned & is still bad. There's probably more "missing" as you don't always know what you don't receive, especially Christmas cards. An investigator at the Royal Mail said greetings cards are a favourite target for bent postal staff as they frequently contain bank notes. Another prime item for theft is plain white envelopes, as banks don't use airmail envelopes for credit cards, etc. What can you do? Registering important items. Compensation and chances of tracing may be low, but it is a deterrent to thieves. Encourage friends to use airmail envelopes not those resembling business mail,and don't put money in with birthday cards. E-mail ahead to advise of an expected important item. Always use a main post office. Try to see the stamps being affixed to the item in your presence. Agencies such as MBE are okay, but you pay extra as with other agents. Make your letter seem as valueless as possible. Avoid bulky items, even if it means using several envelopes sent on different days. ( From: our reporter Ian C.)

Retirees new bank balance changes:

1/. If you received your permit to stay (before Oct 1998 by Immigration) and have an unbroken record of annual extensions you need to be able to show 200,000 baht in a Thai bank when you reapply.

2/. If over 55 you must have either 800,000 baht before applying for your next extension or new non-immigrant O-A visa OR 65,000 baht a month. The OR was not there before.

3/. If you arrived on or after October 1998, & obtained a permit to stay having 200,000 baht in a bank account you must now have 800,000 baht before reapplying. "The govt approved this policy because it wants foreign currency to help Thailand's economy" These new changes have been applied in Phuket.

OTHER CHANGES IN THE PIPELINE: With the Thai govt needing overseas funds, the heads could turn to China for help. This in itself may mean foreigners living in Thailand will take the brunt of the blame if the economy falters again. Remember those in the govt last time are there again this time. The Chinese will in turn want a lot back in return.

Legal HELPLINE is free. write to thailawyer@iname.com  about your headaches!!. or just plain help. This service is available for foreign expats.

REAL ESTATE: Chiangmai- Asia Real Estate helpline especially for foreigners buying and renting. Assisting foreigners purchasing, renting or just plain information on building, buying etc. write: chiangmai@realtyagent.com  

FARM IN LOPBURY: 40 acres with house and many outbuildings on flat land, water, electric. 12m baht negotiable by American. Interested then look up:[ Farm ]

Both offering free clssified ads in Thailand. These buy/sell/exchange News, exports wanted ,jobs, foreign finance services, travel tips, business for sale etc has interesting articles for expats. email: cmtrader@iname.com  or pattaya@asia.com  OR bangkoktrader@asia.com  FREE private ads 25 words welcome. Business ads are paid ads.

VISA SPECIAL: The border at Mae Sai has been closed indefinitely due to the recent clashes between the Thai and Myanmar armed forces. We talked to the Police & Immigration who have indicated the border may open in 3 days, 3 months or 3 years. You will need to travel to other borders to renew your visas. For info call: (053) 277-510 ChiangMai or (053) 731-008 Mae Sai

Looks like the Banks have relaxed the laws opening new Bank accounts as two of our readers only had to give passport copies and no immigration letter. However it may be until the new government settles in perhaps but this is good news.

NEWS FOR 2001
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ALL BORDERS ARE OPEN.

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We wish to express our apologies for not publishing our newsletter for the past 2 months due to workloads but we are now back to keep you up to date with biz, visas & new rules and regs & more to offer.

LAOS VISAS:
The consulate in Vientiane will only issue a single entry non-immigrant "O" visa. If you decide to apply for a B non immigrant visa you need to show all your company papers not just a company letter.Right next door there is a shop where you can get copies made. Make sure if you leave your passport to always carry copies on your person-- especially at night. Show up Monday morning when they open at 0830 hrs and return next day now after 1pm to pick up your passport. Lao Aviation leaves ChiangMai Thursdays and Sundays & the new Office is opposite Kuad Suan Kaew (Central). Visa cost 500 Baht. Check with immigration in your own city for requirements before you head to Laos to make sure you have all the papers in order.

CAMBODIAN VISAS:
From Pattaya running daily is the No 1 Visa run Co Ltd. call any time George 01-3444721 or Tim 01-6878053. legal exit stamps, Cambodian visa & reentry stamp

NON IMMIGRANT VISAS:
Penang is now issuing multiple non immigrant visas. However we have also learn't from our Bangkok law Office that after 3 non immigrant "B" stamps in your passport you may have difficulty getting further validation. Remember a multiple non immigrant that normally you get from your home country is an invitation to work for a company in Thailand. It makes sense really-- this will mean balance sheets VAT returns etc to produce + +.or a polite NO.

RETIREMENT VISAS:
Well they start in Thailand & you need:
1/. Letter from a Thai bank certifying sufficient funds in a deposit account.
2/. Letter from your Embassy saying you are in good standing plus confirmation of retirement & pension received.
3/. Takes these documents plus cover note, fee, bankbook to the Ministry of Foreign Affairs Bangkok.

You may have to go back but once completed you can telex to a Thai Embassy anywhere to issue
a non immigrant visa. Now you have to leave Thailand, complete visa application form & pay the fee (remember the telex number) issuing you with the non immigrant visa. On re entry back you get 90 days. Once over you take all your documents to extend to another 30 days. Subsequent annual extensions can be made WITHOUT leaving THAILAND. Remember Foreign Affairs issues visas & Immigration extends them. Try visiting your local immigration for the latest info, as thats part of the fun.  WARNING: Only use Government approved agents who give you a receipt whenever you give your passport, & carry a copy.
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BANK UPDATES:
Well, some Banks still want your work permit but the Bank of Thailand issued a statement where this was now not necessary. You do need a letter from Immigration. They now charge you 200 baht in Chiangmai, elsewhere unsure?. Take passport copies & photos. You also need this letter to buy a vehicle or bike plus your non immigrant visa. Its basically saying you reside at such and such.If you want money from your own country without the Thai Banks helping themselves use Western Union. Most overseas Banks have this facility & its instant access.

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WORK PERMITS:
If you are working in Thailand make sure you have a work permit as there are spot checks everywhere. If you own a bar a Limited partnership allows you to secure a work permit. With a Thai company (or non immigrant "B") you can then feel secure with car/bike in your name and whatever else you need. PLAY SAFE & don't listen
to people if they say you cannot do this or you cannot own that. Chances are you can do both. If in doubt ask us.

DRIVING LICENSES:
Although it seems you can obtain a USA International license thats valid for 5 years this may be the case in Bangkok? However in a court situation you may still find 6 months is the max before the license runs out. If you haven't got yourself a Thai driver's license then you may have problems if you do have an accident. Its easy to obtain
and helps you secure rentals, hotels etc without carrying your passport. As one of our readers explains. "The Thai driver was drunk. The Police arrived & I was in the right thank goodness? Vehicle damage were approx $US6000. However my Insurance company refused to pay out. On the back of my policy in Thai was a clause which said: the policy holder must possess "a current driver's license"., Current is Thai not International as the wording was in Thai". Something to think about.

NEWS FOR SEPT/OCT 2000
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ALL BORDERS ARE OPEN.

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Mae Sai is generally the only border that is up and down
depending on mood and dress. FROM our reporter in Mae Sai KK: Information concerning the possibilities to cross the border from China (yunnan province) to North Myanmar. The only place possible will be from Reili in Yunnan and that depends on the mood of the border guard. Some are OK and others are refused. KK was at the Kunming Burmese consulate, yes there is one there and a Laotian one as well...........the Burmese, say, they have no idea, we just issue the visas, it depends on the border. The place where KK goes is still a national border, Chinese side is Daluo, Yunnan burmese side is Mong La, no way there yet.

THAI VISAS:
A few readers used the services of Thaivisa owned by Mr Lars Jansson. Some of these visas were activated in Bangkok rather than outside the country which in itself is illegal. They were then processed in Brisbane, Australia. The result was the Officer who activated these visas in Bangkok was caught and consequently Thaivisa.  Lars was made posi non grata as a result & his Bangkok Office is closed & the website hasn't been active. Some time ago 3 foreigners were arrested for using Hawaii nonimmigrant visas using the same system-- an alert immigration Officer did not see any arrival date on the passport for the USA!!! BE WARNED. WARNING: Only use Government approved agents who give you a proper receipt whenever you decide to use their services

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BANK UPDATES:
Every bank has a different story. Some want a letter stating you are the signee of the account. Others want a letter from Immigration (standard) saying you are living in Thailand.You still need a non immigrant visa. If company papers are more than one month old they want them redated? (Bangkok Bank) Work permit in some but no work permit in others. In fact the Bank of Thailand have reiterated their statements regarding work permits-- but the rules are still there. We have received a letter from Mr. Samart Buranawatanachok (Dir of Special Projects and Analisis Dept, Financial Institutions Policy Group) who in fact is in charge of these guidelines. In his letter he pinpoints that proper ID with certification from someone with credibility should be enough. I therefore believe that a copy of your passport together with the original, should be enough to certify your true identity for any given bank.(True identity is understandable the main issue for this exercise by BOT.) They might however claim that your passport is fake. So it might be smart if you could have your Embassy to verify it.... :)
The remaining issue (the bank will ask) is your address. A rental contract for your condo/house or
even hotel, certified by police or a respected Lawyer (I don't know any - but, you never no...) - might be handy. Anyway all of us should take a deep breath and just relax - no real problem for foreign deposits are in sight. At least not yet........ Additional information can be found at www.bot.or.th

No. 54 / 2000

The requirement for commercial banks on the practices in collection of deposits
The Bank of Thailand has prescribed the Notification Re: The requirement for commercial banks on the practices in collection of deposits. The details are summarized as follows;
1. Identifying the definition of “ deposit account” to include all types of deposit accounts that commercial banks have been currently granted and may be granted in the future. Furthermore, “depositor” shall be meant to include the legal assigned person or the authority transferee to whom the authority associated with the opening of deposit account is transferred.
2. For opening the deposit account, commercial bank shall ask depositors to identify themselves through filling in the Enquiry of deposit account opening; for instance Name, Surname, Address, Occupation, and Workplace etc. Juristic person shall be required clarifying additional details regarding the scope of business
3. Commercial banks shall inform depositors who open the deposit account in accordance with number 2 to submit documents such as Identification card, copy of Residency registration, or other identification documents issued by government agencies. Juristic person shall declare Letter of Corporate Intent, Letter of Acknowledgement from Bureau of the Partnership and Company Registration, Department of Commercial Registration, Ministry of Commerce etc. Commercial banks shall request depositors to submit copies of all mentioned documents with signature of verification.
4. Commercial banks shall verify the identification documents described in number 3 according to the general practiced procedure with absolute caution and honesty and shall retain all the mentioned documents at least 5 years commencing from closing of each deposit account.
5. Commercial banks are prohibited from allowing depositors to conceal their names and to use alias or false names on their accounts.
6. Commercial banks shall enforce the conformation of depositors, who have had the deposit accounts before the declaration of this notification, to the practice of this notification within 6 months commencing from the effective date of the notification.
7. This notification shall be effective from June 12, 2000 thereafter.
Bank of Thailand
April 21, 2000


If you are working in Thailand make sure you have a work permit as there are spot checks everywhere. If you use your home as an office it needs to look like an Office and don't forget that each work permit requires 4 Thai workers on your books.

DRIVERS LICENSE:

If you are staying in Thailand on a semi permanent basis go and get yourself a Thai drivers license. Take your home license in with letter from your embassy, passport & under 1 month old medical cert & immigration letter (free) and you can now get your license. Its handy if you want to rent a car, stay in a hotel & if you have a Thai Insurance policy as "a current drivers license" is a Thai license not any other? You don't have one then no insurance so check your policies.

EXPAT NEWS:
read more expat news reports.

Want cheap accident insurance then open up a Savings account with the bank of Asia. Min 3000 baht deposit X it by 20 and thats your Accident cover should you have an accident eg. if you have 20,000 baht in your account you are illegible for 400,000 accident cover. You receive an ATM card as well as an Insurance card. Although the shares of Asia Bank aren't that good
where else do you get FREE in Thailand.
HEALTH INSURANCE: We are agents for BUPA. No difference between us and the head office but we can help you to personalize exactly what you want

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