gwkenny

Investment income is always taxable for U.S. citizens. The $80k exclusion is only for earned income, earned overseas. Interest from investments held in Canada by a U.S. citizen do NOT qualify for the "earned income exclusion."

Seems there is almost always an exception. US Treasuries and other US government securities are tax-exempt for Americans.

Banks will not grant Current (checking) accounts to ordinary individuals, only businesses.

You can still get a credit card.

I'm about as ordinary as anyone can be. Guess what? I've got one

Though, as indicated elsewhere, I really don't use it near as much as I thought I would.

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Greg:

Thanks for the reply and information!

I did go to KL and I just want to let everyone know that they have been very gracious.

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1. Suspend your work permit on the day it expires. Re- activate it after you arrive back in Thailand. (You have three days to do this once you arrive back)

Thanks!

That is an interesting option! Wish I could chance it and know I'd get a 1-year visa. Unfortunately time right now is very tight Also running me about 18k baht a trip to KL. Not a lot, but that pays for a night or two out

Wish my phone calls and written letter received such fast responses!

Thanks!

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Hello.

I have a workpermit and visa. Unfortunately it has taken me 9-days to get a response from the people who have been doing my paperwork, so now I'm in a jam.

Visa/workpermit expire October 1st.

I have a company and an office, but I don't employ 4 thai workers. Least not on a full time basis.

I need to be in Thailand next week for business.

I understand my options are:

1) Forget my business meetings and fly to a consulate outside the country

2) Go to Suan Phlu and get a 21 day extension and then get my wp extended so I can do my trip early October

3) Let them both expire and do the whole paperwork stuff again in October.

I understand there is no way to do any type of extension while staying within Thailand because I don't have 4 full-time workers. Just want to confirm that these are all my options.

Thanks!

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You really need to define what your print usage is going to be.

Home use, occasional printing? That's fine.

But if you're doing home/office and you print even a decent amount, I'd say you'd be better served with a laser printer.

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just need to clean the fan and the heat exchangers using canned compresse air you can pick up in computer stores.

Do you have a source for canned air in Thailand? All I see here is Contact Cleaner. I've been looking for quite some time and really would appreciate a source!!!

Dust does impede the heat sink and the canned air will help.

If you really want to find out if this is the problem, download something like SpeedFan, http://www.almico.com/speedfan.php.

It's free and you can keep a log of your computer temps.

If the CPU is really hot when the computer cuts then you could do the things said by previous posters.

The next step after that is to refresh the thermal grease/silicone between the CPU and heatsink. I had to do this "recently" with my Server after 5-years. My laptop after 4 years. Both exhibiting the same problems of cutting out before I refreshed the thermal grease.

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Yes, what you need to do can be done.

You don't have to muck around with creating same user/passwords on different computers.

Assuming your using some sort of Windows... Server is formatted with NTFS...

Rights are assigned to files and folders regarding ID's.

Assuming your doing this peer to peer with no domain name server.

The computers are in the same workgroup.

blah blah blah...

You don't want to use "simple file sharing". In windows explorer, Tools/Options/View tab. Last option <--- You have to scroll.

On your computer, search out the server under network connections, entire network, Microsoft Windows Network, [and your workgroup name].

Try to access a shared directory. If it's not open, but restricted, it will ask you for a login and password. Checkoff remember password.

You can map to the drive so it will automatically be there on startup. Or you can just go to it via network connections in windows explorer.

Honestly though, you shouldn't make your fastest computer your server for a basic small/medium office with no database intensive applications.

You take your oldest and slowest computer, put in 2 new hard drives to run in a mirrored array, and then use that computer as your file server/fax server/print server and domain name server.

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It's my understanding that they both performed tasks well, but couldn't think outside the box. We had some success in the Philippines with our less complicated loan products.

Doomed to failure.

Ever look at the marketing signs on the street in Bangkok? Very little attention to detail. Very poor English. These folks are supposed to sell and support securitized and unsecuritized loans?

Level of English is horrible.

By nature, call center jobs are boring. Your not going to get a bright Thai to work and stay there unless the pay is really good.

If you can't get it working in the Phillippines or India, then management has to look in the mirror. Looking to Thailand is just plain crazy!

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If you actually plan on living here for 10+ years than it makes no sense to keep all of your assets in Canadian assets with 100% exchange rate exposure. At least diversify some into the asian markets (the bonds portion would probably be safest) like Japan if not Thai.

Good points made about re-investment.

You should diversify your holdings so it includes Thai investments. Though you may want to give yourself a timeline. Get over here. Do research for 6-months. At that point, either put some money in the market regarding stocks you have been following, or fund some sort of venture in Thailand. That will also give you something to do accept lose time in the bars.

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1 million baht is something, but in the big scheme of things, as folks said, it ain't much.

If you can stomach the ups and downs of a small stock market, you could put it into a "blue chip" type of Thai stock. The gamble will in all likelyhood pay off, and pay off well. Unfortunately it's all about timing. And usually something personal comes up and you need the money right when it hurts the most to take it out!!! Additionally, the market is in doldrums and lots of stuff is on hold till things are clearer after the election (which, at this point, I don't think it will get much clearer if nothing significantly changes).

I also feel that there is a huge danger on the horizon with government off-balance sheet borrowing. Or in this case lending. Pressure is ratcheting up. Are there more NPL's that just aren't accounted for? Will we get more announcements of significant NPL increases like one we've recently had? Come on, do you really believe that the million baht village fund has extremely low default/NPL rates?

Fun fun!

Alternatively, you could fund small projects which actually would give you a decent return. But given the fact that you asked on an anonymous board, I'm assuming you have absolutely no good contacts to this end.

If you did, you could... buy a taxi and rent it out though that would take up almost all of your capital in only one investment vehicle. You could stake a couple of shops in JJ or MBK. Some food carts, etc... But your contacts have to be pretty good else you'll get ripped off in a jiffy.

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I've been really hesitant to step into this thread...

Some people can and do make more than your US salary in the institutional brokerage industry here in Thailand

True, but it's the exception rather than the rule because the number of those jobs are so few over here. In New York they are a dime a dozen. An Associate at a bulge bracket or good second tier firm earns six figures out the gate with signing and guaranteed bonus bringing total compensation right into the middle of billaaa's salary range.

Thailand is just too small a market and to close to world class financial centers to support a sophisticated high level financial services industry.

About the guys in Thailand bringing home the bacon... I am really impressed with most. In the office by 6 or earlier to get ready for the Singapore morning call before opening bell. Extremely often seen in the office after 5pm. Some guys are maniacs and are working ALL the time! The large plus though is the stress level is much lower here than in the States and you don't nearly have them as often during the day as one would back in the States (or London). A thai trader just doesn't have to react as fast or as furiously for their clients to a change in the fed funds rate (or any economic announcement) as they would have to in the States. Additionally much of the local economic announcements that should move markets here are already priced in before the official announcement. Amazing Thailand

oravka:

What do you bring to the table? From what I've read, you've got a few years of trading floor support and clearinghouse experience (not investment banking as folks in the financial industries know it). You dotted the i's and crossed the t's for traders processing the P&L's. What do you have to offer a small (compared to London) regional office that they can't find in a Thai? Do you have any special skills aside from processing (because you can find Thais that are ###### good at processing)? Any insight into industries pertinent to Thailand? Energy? Forex? Relationships with institutions investors?

If not, then from my limited understanding (and believe me, it is limited), then there's not much of a place for you here. It's too small a market. Especially if you don't have Thai under your belt.

I also question why you are bent on talking to a head hunter. Call up the banks directly as Misty suggested. Also attend the American, British, and Australian Chamber of Commerce events. Always a few people from the banks floating around somewhere.

You also need to lose the brick on your should regarding qualifications and working back office/support. Concentrate on what you bring to the table.

To me, it seems that you should not be trying to leverage off your "investment banking experience" but touting your experience managing 20 some odd people along with your background and familiarity in accounting / finance. The problem with that is if you are going to manage people, chances are it's going to be Thais (unless you're teaching) and then language skills are almost a necessity.

Well, whatever you do, the best of luck!

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if what you do has any relation to what I do.

Yah, been trying to figure out what do you do?

Now if rugby had players who wore helmets on the field and rode motorcycles without helmets...

Not Roethlisberger!!!! If he now becomes gunshy, I'll really be bummed.

Woo hoo. Steelers won the superbowl!!!! <---- Just in case anyone missed that

I tried arguing that the best bet would be to see if she can wrangle a contract back home and setup shop over here. Startup costs are minimal regarding software development.

Anyone have any clues for some middle of the road living room furniture? I went to Ethan Allen. Have to admit I was dressed like an idiot and they treated me extremely well and not condescending at all, but I'm not going to drop 160,000 on a couch just yet

Guess it's off to MBK for me one day this weekend.

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Reasons as stated previously why there aren't basements:

High water table.

Quality of construction. How many small residential developers would you trust to make a water tight basement that includes a flood control system that can handle the downpours in rainy season? Most developers can't even handle wire molding!

Shifting ground.

Though, I always wanted a house built into the side of a mountain.

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No one can give you good advice until you tell them what you are going to use the PC for.

As for Hard Drives and DVD's... Buy a dvd burner, they aren't expensive. Very cheap. Create your own DVD's. Not hard.

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I can appreciate your situation and your desire to move.

In your situation the lack of motivation will take it's toll on your work product. That won't be good.

If I was in your situation, I'd do a bit of a rethink. Examine your business and your networked contacts from an outside consulting perspective.

See if you can identify any niche areas that you might fullfill by outsourcing to a company in Thailand. Create some business plans and do some serious analysis to see if these are viable possibilities.

When you are close to calling it quits, start pitching your ideas and see if they take. Nothing to lose and everything to gain.

If someone bites, yes it might take working your ass off for a couple of years to start up your new company, but when it's done, you're where you want to be.

Best of luck!

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So if i undersatnd you correctly, to my work permit as MD of my company i could the employment with this client as a further job - is that correct? Presumably then the money i receive from them as a direct employee would be taxed at source by them, and if i earn any other money through my company i would pay income tax through my company? In summary then the work permit would refer to a position, company, location, etc x 2 companies.

Correct. And you'd be liable to pay the correct income tax based upon your combined income.

Your workpermit will cover two positions (or more) at separate companies and separate locations as long as you get them appended to your work permit accordingly. If your new employers really want you to turn your existing work permit in and just have your new job as your sole position of employment... I'd back out of that.

As for your dormant company? As long as you keep up with the ongoing reporting expense, they really can't do much to you. What's the worst they can do? Tell you to shut down your company?

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The Thai bank says they cannot accept transfers from overseas banks. I also tried Kasikorn Bank here in Nong Khai with the same response.

Did you speak to the manager? I can understand standard customer service in Nong Khai not being familiar with the procedure but the branch manager definitely should be!

Kasikorn does accept wire transfers from overseas banks. The procedure I have followed is to give the following instructions:

Kasikorn SWIFT Code: TFBSTHBK

Branch: [insert your branch name here]

Account Number: [insert your account number here]

Good luck on initiating the wire transfer in the Phillippines. I've done it remotely from the States, but I had to set it up before hand.

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So my only alternative is to wait for a check to arrive to deposit in my account here. This truely sucks!

I don't view foreign (non-thai bank) checks as an alternative. If you are lucky, it'll take just over 30-days. If you're timing is bad, it'll be almost 60 days. Average, 45-days to clear.

You'll also get about the worst exchange rate over that period as well.

This includes cashier's checks. Foreign check clearing is still in the dark ages. That is if your bank will accept it. They really hate accepting foreign checks.

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At a land office, you don't get that 1-day grace period.

tanum: I wouldn't worry unless your daughter is the rowdy type who might get picked up in a bar brawl

I was in this exact situation myself, but here in Bangkok with the Suan Phlu office. I called them up and they said yes, they were open on Saturday.

I arrived on Saturday, and they said they could only do tourist visa extensions, not the visa I had. I had to go back Monday (at which time my stamped expired). I explained the situation and they extended my original visa and didn't charge me for the overstay (or haul me to the monkey house).

If she's polite and presentable (thai's put a lot of importance on presentation) the only thing she'll have to pay is the 500 baht for the 1-day overstay.

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Sounds very amateur to me.

Yes, and that's all that can be done here. As I stated before, this "investment" pooling via some sort of corporation won't work. How is anyone going to determine who is and who isn't a dodgy character.

There is no recourse for a minority investor if the people controlling the firm decide to buy a "golden" goose with all the capital and then this goose up and dies. Going through Thai courts to get your money back would be laughable considering the amounts involved.

Besides that, there is little benefit to pooling together to purchase securities. It is very cheap for an individual to buy securities. Trading in value blocks of 50,000 baht or even smaller isn't a problem.

The only form that this idea can work in is via a "social" investment club, which, unless it has some finance professionals, is by definition, amateurish.

And that's just plain ignorance. The less focus there is on a company, the easier it will be to hide things.

Yeah, tell that to Enron et al.

Good luck. Anyone who gives his money to this kind of amateur handing is out of his mind.

That's the only thing that you have said that makes sense.

Seriously though, an intelligent investor does have an edge because there is sparse coverage of middle market cap companies. It just takes research which isn't hard. Just takes time. Sometimes a lot of time. It is a true undeniable edge.

I just don't see anyone putting in all that time to gain that knowledge and freely share this edge with others (especially strangers) without some benefit. This is why I stated from the start, setting up a company as an investment vehicle that people buy shares in won't work.

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I guess assumptions really do reflect your environment.

There ARE quite a few farangs who can read and write Thai. I'd bet there'd even be a few around on this board. hel_l, even I know a few.

Translation services are NOT expensive.

"small companies that are not properly analysed and whose reports are probably very questionable?"

Lol. Here's a clue. It was in my previous message. I doth quote myself: "This is where someone who puts their time in can really find value".

If a company was already properly analysed with reports from reputable firms, where would there be any value added? It's already done. Just need to get your hands on the reports.

But coverage of the SET is meager because it's a small pond. So there is a lot of opportunity for someone to do their own research and "profit" off it. It just takes time and perseverence (as most jobs).

THAT'S your edge. Look at that Paul Renard guy. Is he doing anything unique? Nope, just putting his time and effort in. And people are buying it!

"how a bunch of foreigners ... will conduct efficient research and assesments of small companies"

See, that's the rub. Most people are uneducated regarding financial markets. So if someone is going to start a small investment club, then someone has to take the initiative in educating the other people in the club.

"Smaller public companies will be much more difficult to value than large ones."

This is false. It depends on the companies in question. Look at many of the large conglomerates in Thailand. They are family owned business with not one or two core business groups. They could also be a conglomerate with significant holdings in over 150 different companies (doing over 150 different things). Small companies very often have very few core businesses that generate over 80% of the revenues. That would be much easier to analyze.

Analyzing small companies does not have to be hard. There are a number of ways to tackle the problem. The public numbers have to be based on fact somewhere. The problem lies with the breakdown of the line items. But even if you don't have the line item breakdown of what consists of sales (what business units contributed what) you can still get a lot of information. Look at shareholding structure. Does a lot of individual family members hold shares or is it largely one person. If it's a number of individual family members, than there is a large chance the company probably provides for the family with money through consistent dividends (besides jobs). You can find this information out informally via social connections. Thailand isn't that big and everyone knows everybody (if you are plugged in). Dividends is public information and you can piggy back off those "consistent" family payments and check on the equity gains over the years.

You can also get market share information. Even if it's not directly published. Change and/or consistency over time would be very helpful in looking at a company.

Where's your edge? Doing your research. That's what you do before you buy something.

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Idea 2: To start an investment fund based on the knowledge of Thai Visa members regarding Thai Public companies. Where is the advantage over local professional analysts?

If you are talking about the large cap stocks in Thailand, then yes I'd certainly agree with you.

But Thailand is a puddle compared to the other world financial markets. Equity research is going to be sparse at what is mid-cap for Thailand and non-existent for the small companies.

This is where someone who puts their time in can really find value. I also wouldn't trust the local "professional" analysts if they were covering these stocks. Especially from the smaller research companies where people with a local agenda might be able to have significant input into what is released with very few comparable research reports for one to gain a consensus of that specific company.

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My guess would be 1-month fixed term forward contracts and those are the sell/buy spreads against the spot rate.

fun fun

Heng: Yeah, I don't think the OP was talking about a money club. Though they are interesting to watch!

As for the OP, I think you are on a fool's errand. No one is going to fork over money into an entity into which they are going to have limited control, which is what you are going to have if a number of people puts in X into a legal entity (i.e.: limited liability company as an investment vehicle).

As the number of investors increase the success factor almost always decrease because the time spent towards communication and coordination is exponentially raised.

If the aim is to run a business, then not only will you need investors (the smaller number the better) who can adequately fund the project, you are going to need a management team (which is arguable a lot more important than whatever the project actually is) that can execute. Thailand doesn't attract those kind of people by definition. A relatively anonymous board about Thailand even more so.

The best you can hope to do is create some sort of small investment club where each member investigates a company and reports back in several weeks but everyone handles their own portfolio. That would be enough time to begin to understand that company's market, it's position, and whether if it has any possible upside if this was in the US. The difficult is harder and compounded by the fact that many company publications are not in English (i.e.: annual reports) and the people you'll get here are most likely not astute to conduct decent financial analysis.

i'll bet the bonus comes along every 9th month with that garanteed fixed position

Do you get any options on the bonus? How about some warrants?

Can we have the ability to PUT the bonus?

Personally, I'd like the positions to be as flexible as possible. Variable even.

Now if we can apply a butterfly spread that spans my positions there is no way I could lose!!! Collar that baby up!

Don't even get me started about valuing the call to this option.

The volatility of the forward market would make this astronimical!

Hmmm, but if we can put in place some swap agreements, things might really get interesting!!!

Now if there is a post that signifies a little financial knowledge is a very bad/sad thing, it's got to be this one! I certainly hit the ceiling and have gone lower than the floor so put a cap on this baby and I'm done!

Would you believe I have programming/IT/Software Development/Project Manager experience? Sadly I'm extremely lacking in the fourth qualification of respectfully dressed. Woe as me.

Respectfully signed,

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