Invest more than 10M baht as a non-resident

[Dror1992]

Hello everyone.

 

Is it possible to invest in thailand a non-resident? I don't have the intention to move to Thailand. I just want to invest my money (more than 10M baht) in one of Thailand bank's governmantel bonds and saving account. 

How do you open a bank account as a non-resident tourist?

Do I need to live in Thailand in order to invest in the country?

Or do I need to apply to some sort of a special visa in order to do so?

 

Thnak you,

Dror

[nigelforbes]

Yes! 

 

Thailand offers two types of bank account, Resident and Non-Resident. Almost everyone who applies is offered the Resident account by default, but if you ask and say you want a non-resident account they are readily available. The upside of Non-Resident accounts are that funds can be transferred to and from the account, from overseas, without limit and without requiring approval. The downside is that no interest can be paid on the account and you cannot deposit Thai Baht.

[CartagenaWarlock]

Not sure which country you are in but why you want to buy thai government bond? Why not buy US treasury and ladder them, you will be making 4-5%. Or may be simply ladder US CDs that will also pay you the same amount. If you want to take more risk spread your money into some junk bonds that offers 8-10%. Real estate bonds offer 8-10%. 10 million baht is lots of money. You should be earning at least 4-5% with no risk. 8-10% with higher risks. How much does Thai government bond pays? 

 

Did you open the forum account just to ask this question? Are you an investor? Are you laundering money? Why sudden interest in Thai savings/bonds. Did you win a multimillion dollar lottery and don't know what to do with your money? Are you crazy? I simply don't get it. 

 

Edited March 11, 2023 by CartagenaWarlock

[nigelforbes]

Oh wait, I missed the part about government bonds.

 

As a foreigner you will not be allowed to transact in the primary bond market without a broker and that will cost money. You can participate in the secondary market but again, an intermediary will be required although a bank may be able to do this.

 

And as the previous poster has said, why would you want? Returns on government bonds here can be bettered elsewhere, even before the intermediary costs, although the currency aspect may change that picture, over the longer term.. 

 

[CartagenaWarlock]

5 hours ago, Dror1992 said:

How do you open a bank account as a non-resident tourist?

You want to invest 10 million, just pay an agent 3,000 baht and you can open a bank account and park 100K for your Thailand adventure and invest your money in the US. 

Edited March 11, 2023 by CartagenaWarlock

[ezzra]

45 minutes ago, CartagenaWarlock said:

Not sure which country you are in but why you want to buy thai government bond? Why not buy US treasury and ladder them, you will be making 4-5%. Or may be simply ladder US CDs that will also pay you the same amount. If you want to take more risk spread your money into some junk bonds that offers 8-10%. Real estate bonds offer 8-10%. 10 million baht is lots of money. You should be earning at least 4-5% with no risk. 8-10% with higher risks. How much does Thai government bond pays? 

 

Did you open the forum account just to ask this question? Are you an investor? Are you laundering money? Why sudden interest in Thai savings/bonds. Did you win a multimillion dollar lottery and don't know what to do with your money? Are you crazy? I simply don't get it. 

 

Hey, the man asked a fair question, you have offered your opination and then you question his motives and suggest an ulterior motives for asking a simple question.

[CartagenaWarlock]

1 hour ago, ezzra said:

Hey, the man asked a fair question, you have offered your opination and then you question his motives and suggest an ulterior motives for asking a simple question.

Chill out man. I was joking but it surely puzzled me why a tourist suddenly wants to invest 10 million baht in a Thai savings account/Thai bonds. If he is a serious investor, he could have gone to other investing forums or reddit groups instead of posting in this forum where crazy old people hang around all day to bash Thais. Chinese, Indians and now Russians and desperate people posting about border runs.

Edited March 12, 2023 by CartagenaWarlock

[nigelforbes]

5 minutes ago, CartagenaWarlock said:

Chill out man. I was joking but it surely puzzled me why a tourist suddenly wants to invest 10 million baht in a Thai savings account/Thai bonds. If he is a serious investor, he could have gone to other investing forums or reddit groups instead of posting in this forum where crazy old people hang around all day to bash Thais. Chinese, Indians and now Russians. 

THB is forecast to be a very strong currency, parking foreign currency in THB bonds earns interest and will realize the forex advantage.

[CartagenaWarlock]

Just now, nigelforbes said:

THB is forecast to be a very strong currency, parking foreign currency in THB bonds earns interest and will realize the forex advantage

Yes, I have read that. Before Covid I think the prediction was 25 Baht/USD by 2025. But now I don't think so. Maybe 2030.

[phetphet]

It is possible to open a resident bank account while being non resident. I had a   friend do it recently based on a retirement visa. Of course, you will have to be here physically to do it, and meet the requirements for said visa. including being over 50 y.o.

 

I would be more worried about taking the money out of the country again.

As others have said,  better investments elsewhere.

Worth noting Thai banks deposit protection levels too.

[nigelforbes]

1 minute ago, phetphet said:

It is possible to open a resident bank account while being non resident. I had a   friend do it recently based on a retirement visa. Of course, you will have to be here physically to do it, and meet the requirements for said visa. including being over 50 y.o.

 

I would be more worried about taking the money out of the country again.

As others have said,  better investments elsewhere.

Worth noting Thai banks deposit protection levels too.

Read the OP again.

[nigelforbes]

Because some idiots are so easily confused at simple things, here's a longer explanation from a premier law firm in Thailand.

 

https://www.tilleke.com/insights/banking-thailand-resident-or-non-resident-account/

[phetphet]

3 hours ago, nigelforbes said:

Read the OP again.

Which part?

This part?

How do you open a bank account as a non-resident tourist?

 

Or this part?

Or do I need to apply to some sort of a special visa in order to do so?

 

I told the OP he can open a bank account. He doesn't have to be resident. If he can fit some of the requirements I stated, he can open a bank account and then leave the country.

Edited March 12, 2023 by phetphet