US Citizen-Long Term Foreign employment-Banking?

Wits' End

Flashlight Enthusiast
Joined
Nov 27, 2001
Messages
2,327
Location
Remote NEast Minnesota, next to Lake Superior
I know there are many overseas members and some who do a lot of business travel and work in non-native countries so I thought there would be some ideas to help with the questions below. Thanks in advance.

My son has just returned, a week ago, from Chang Mai, Thailand, after 9 months there (see this thread for a little info :) . He has made a three year commitment to return there in August, after getting married here. Many questions have come up as he has been thinking about this and starting to make plans. He will be living the next 8 months in the States about 3 hours from here, working, getting married etc. . He needs to truly start his life there with an eye to his intended future. So...
How best to go about banking? He used his local, to me, Credit Union account, internet banking through the CU, a debit card, ATM's and State-side bill paying (as well as Paypal :) ) to handle his money while in Thailand, China, Laos, Cambodia and Bangladesh over the last 9 months. He is thinking that there is a better way. ING?, or another on-line institution? A local (Chang Mai) bank? Any thoughts as far as best way to get money (USD) from States to Thailand (THB)?
Taxes? He will be working for a Mission organization IGo so he will be paid by a US based group for work outside the States. He will also be receiving donations from churches and individuals that live in the US. So what is income and where?, who taxes it :) I know some government will get something from him.
Stuff? They will be taking some stuff with them, ~280 pounds-worth in 4 suitcases. Any tips on things they should bring? Any thoughts on leaving stuff here in storage vs. getting rid of it or shipping it there? What method to get a crate or large box from US to Thailand? Keep in mind that neither my son or his intended has lived 'on their own' so they don't have the furniture and other big things that we tend to accumulate :). Clothes, books, personal things (electronics, tools), laptops, books and maybe some other books are about it. Others that have relocated have managed without major shipping, some have left houses behind, rented or otherwise cared for.

Any other thoughts are welcome. If you feel thoughts might be better kept private, feel free to PM or email [email protected] . I'd like permission to post, anonymously, any thing I feel should be shared. But will respect admonitions to keep it to myself, with the exception of my son and my wife :)
TIA
 

Mednanu

Enlightened
Joined
Feb 16, 2003
Messages
333
Location
Earth...
Stuff?...Any thoughts on leaving stuff here in storage vs. getting rid of it or shipping it there?...

Yeah, if it's not sentimentally valued, don't leave it in storage or you'll end out paying more than it's worth. As a matter of fact, you'll probably end out paying more than what a brand new, top-of-the-line model of whatever you put in storage is actually worth by the time you take it out of there. So if it's not sentimental, either ship it out or sell it here and buy a new one there. Otherwise you'll be paying top dollar for old goods. And oftentimes, the sentimental stuff can be culled down to just a couple of boxes worth, which can more safely ( and definitely more cheaply ) be stored in Maw & Paw's attic, garage or basement - better keeping that important stuff with family anyway. That's my 2¢ on the subject of rental storage. So, God Bless, and may you free yourselves up from the burden ( and cost ) of the storage trap.
 

BVH

Flashaholic
Joined
Sep 25, 2004
Messages
7,023
Location
CentCalCoast
I think a few dollars spent on a consultation with a good and respected tax person, one well-versed on international living, would be dollars well spent with a probable quick payback when it comes to tax time.
 
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