Hey guys, 

 

Can anyone explain me the requirement of Tax ID for opening any international broker account in Thailand?

I am a WP holder in Thailand and as far as my knowledge, WP holders can't directly involve in any other kind of business other than job mentioned in the work permit. Am I correct? 
So my concern is, if I give my tax id to any of above mentioned brokers will there be any legal issue? Does it consider as another business? 
Anyone with a WP has ever opened an international broker account from Thailand? I mean online.

I would also like to know your opinions about what is the most beneficial trading international stocks or Thai stocks when consider about the commission that we have to pay on every trade? 

Thank You. 

 

7 minutes ago, hasitha77 said:

Can anyone explain me the requirement of Tax ID for opening any international broker account in Thailand?

I am a WP holder in Thailand and as far as my knowledge, WP holders can't directly involve in any other kind of business other than job mentioned in the work permit. Am I correct? 

 

No, u can work every job you want, even if immigration often claims otherwise, and if you work you should also have a tax id.

 

Tax id has nothing to do with your job, you pay taxes on a plethora of things like investments, rental income etc besides income taxes. 

 

Quote

 most beneficial trading international stocks

 

Obviously US stocks would be what i would buy, def nothing thai related. I wouldn't trade tho, only buy ETFs like QQQ (Nasdaq 100) or VOOG (Vanguard growth SP500 fund)... 

I would think you you are a U.S. Citizen you could open up any account online.  I know Schwab has an office in Hong Kong.  They require that you get a notarized copy of certain documents to mail to them in order to open the account. 

4 hours ago, ThomasThBKK said:

 

No, u can work every job you want, even if immigration often claims otherwise, and if you work you should also have a tax id.

 

Tax id has nothing to do with your job, you pay taxes on a plethora of things like investments, rental income etc besides income taxes. 

 

 

Obviously US stocks would be what i would buy, def nothing thai related. I wouldn't trade tho, only buy ETFs like QQQ (Nasdaq 100) or VOOG (Vanguard growth SP500 fund)... 

Thank you very much for your feedback.
Have a you ever open an online trading account here (not Thai)? I would like to know what broker would be most suitable and convenient? 
and will there be any issue when funding using Thai bank account? 

For residents of Thailand it's possible to open accounts with Interactive Brokers and TD Ameritrade (Singapore website). You will be asked for Tax ID but that shouldn't have any implications for your work permit. Make sure to fill W8BEN form during application process. There is no issue funding your account from most countries / banks as long as that bank account is in your name.