Setting up SET account for dividends.

[JeffersLos]

I have a Non-O extended annually for years, Thai bank accounts with BAY, Bangkok Bank and K-Bank, Thai pink ID card. 

 

I'm looking to set up an SET account that will pay dividends into my Thai bank account.

 

Where? And How? 

 

TIA. 

[NoDisplayName]

Bualuang Securities, associated with Bangkok Bank.

 

https://www.bualuang.co.th/?lg=en

[Foxx]

There's a list of brokerages at https://www.set.or.th/en/market/information/member-list/main

Note that whilst many of them are associated with banking organisations, you are unlikely to be able to open a brokerage account at a bank branch - you'll need to approach the brokerage directly.

 

You mention being on a non-O visa.  If this is for retirement, then you are going to find it very difficult to open an account.  I know, I've tried.  In the end I was only able to open an account by someone giving me a personal recommendation.

I would add that, given your apparent naïveté in such matters, direct investment in the SET may not be a good idea.  You'd probably be better off investing in mutual funds.  For these you'd open an account with an asset management company.  Banks have associated asset management companies and you can open an account at a bank branch (or even online).  Unlike the past, most banks now allow you to purchase funds from other asset management companies.

[JeffersLos]

50 minutes ago, Foxx said:

You'd probably be better off investing in mutual funds.  For these you'd open an account with an asset management company.  Banks have associated asset management companies and you can open an account at a bank branch (or even online). 

 

Thanks, I'll look into that. 

 

Do you have a link to a reputable asset management company, being able to open online would be a small advantage.

 

TIA. 

[connda]

1 hour ago, Foxx said:

There's a list of brokerages at https://www.set.or.th/en/market/information/member-list/main

Note that whilst many of them are associated with banking organisations, you are unlikely to be able to open a brokerage account at a bank branch - you'll need to approach the brokerage directly.

 

You mention being on a non-O visa.  If this is for retirement, then you are going to find it very difficult to open an account.  I know, I've tried.  In the end I was only able to open an account by someone giving me a personal recommendation.

I would add that, given your apparent naïveté in such matters, direct investment in the SET may not be a good idea.  You'd probably be better off investing in mutual funds.  For these you'd open an account with an asset management company.  Banks have associated asset management companies and you can open an account at a bank branch (or even online).  Unlike the past, most banks now allow you to purchase funds from other asset management companies.

And then you'll need to address foreign income with both the Thai government and your own government.
Best to keep your brokerage accounts in your 'home' country imho.

[jaideedave]

3 hours ago, JeffersLos said:

I have a Non-O extended annually for years, Thai bank accounts with BAY, Bangkok Bank and K-Bank, Thai pink ID card. 

 

I'm looking to set up an SET account that will pay dividends into my Thai bank account.

 

Where? And How? 

 

TIA. 

As others have said. <Bualuang Securities> very easy and a manager helped me in every way.I invested in a REIT that paid divvies monthly or quarterly I forget. The dividend went directly to my Thai bank account. Very professional and easy. It was a few years ago and some things may have changed.

[Foxx]

1 hour ago, JeffersLos said:

Do you have a link to a reputable asset management company, being able to open online would be a small advantage.

 

I can't really recommend a reputable asset management company.  However, let me relate my recent experience of opening a mutual fund account with Krung Sri a couple of weeks ago.

The Krung Sri bank app (KMA) has a section "Mutual Fund" and if you click on it there's the option "Open Account".  I clicked on it and then filled in a fair bit of information, including going through an (utterly pointless) suitability questionnaire.  At the very final step it said that the application could not be completed online.  The actual message said that I needed to have my identity verified and (another) photograph taken.

I visited a branch, and was told that it wasn't possible to open a mutual fund account online.  I then had to go through the entire process on paper (including the suitability questionnaire).  The whole process took over an hour, including several 'phone calls by the counter staff to head office.  The final hiccough was that they required me to invest in a fund immediately to complete the account opening.  Their website lists a range of perhaps 9 or 10 fund managers whose funds were available, and I'd previously shortlisted three or four funds, so that shouldn't have been a problem.  However, the reality is that virtually all the funds available are from Krung Sri, and only a token number of funds is available from the other fund managers.  Given that Krung Sri doesn't have a great reputation for fund management, this was a blow.  (In fact, they only have 3 funds rated 5-stars by Morningstar Thailand - that's out of 240 funds overall.  And all three funds are FIFs, so Krung Sri is not doing fund management.)  I've now realised that Krung Sri is no alternative to my regular Thai brokerage account which offers a much more extensive range of funds.

In short, I'd recommend opening an account with a full service brokerage (primarily not one attached to a bank).  However, if you go down the bank asset management company route, check how extensive the range of available funds actually is before opening an account - don't just rely on a list of available fund companies.

[NoDisplayName]

2 hours ago, connda said:

And then you'll need to address foreign income with both the Thai government and your own government.
Best to keep your brokerage accounts in your 'home' country imho.

 

Brokerage will deduct 10% before dividends reach your account.

Capital gains on Thai stocks are not taxed in Thailand.

 

You can open a mutual fund account at Bangkok Bank.

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Mutual-Funds

[JeffersLos]

3 hours ago, NoDisplayName said:

You can open a mutual fund account at Bangkok Bank.

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Mutual-Funds

 

Thanks.

 

 

 

 

But then:

 

 

 

 

 

Perhaps they mean that setting it up online is not available to foreigners, and not being able to invest and manage the mutual funds from your mobile Application. 

Edited December 6, 2023 by JeffersLos

[Startmeup]

6 hours ago, jaideedave said:

As others have said. <Bualuang Securities> very easy and a manager helped me in every way.I invested in a REIT that paid divvies monthly or quarterly I forget. The dividend went directly to my Thai bank account. Very professional and easy. It was a few years ago and some things may have changed.

You invested in Thailand based REIT?

[Startmeup]

6 hours ago, Foxx said:

 

I can't really recommend a reputable asset management company.  However, let me relate my recent experience of opening a mutual fund account with Krung Sri a couple of weeks ago.

The Krung Sri bank app (KMA) has a section "Mutual Fund" and if you click on it there's the option "Open Account".  I clicked on it and then filled in a fair bit of information, including going through an (utterly pointless) suitability questionnaire.  At the very final step it said that the application could not be completed online.  The actual message said that I needed to have my identity verified and (another) photograph taken.

I visited a branch, and was told that it wasn't possible to open a mutual fund account online.  I then had to go through the entire process on paper (including the suitability questionnaire).  The whole process took over an hour, including several 'phone calls by the counter staff to head office.  The final hiccough was that they required me to invest in a fund immediately to complete the account opening.  Their website lists a range of perhaps 9 or 10 fund managers whose funds were available, and I'd previously shortlisted three or four funds, so that shouldn't have been a problem.  However, the reality is that virtually all the funds available are from Krung Sri, and only a token number of funds is available from the other fund managers.  Given that Krung Sri doesn't have a great reputation for fund management, this was a blow.  (In fact, they only have 3 funds rated 5-stars by Morningstar Thailand - that's out of 240 funds overall.  And all three funds are FIFs, so Krung Sri is not doing fund management.)  I've now realised that Krung Sri is no alternative to my regular Thai brokerage account which offers a much more extensive range of funds.

In short, I'd recommend opening an account with a full service brokerage (primarily not one attached to a bank).  However, if you go down the bank asset management company route, check how extensive the range of available funds actually is before opening an account - don't just rely on a list of available fund companies.

What do long term returns look like for the best performing Thai mutual funds? Any of the ten funds or so I checked on the Bangkok Bank website the return are hideous.

Edited December 6, 2023 by Startmeup

[NoDisplayName]

1 hour ago, JeffersLos said:

 

Thanks.

 

 

 

 

 

But then:

 

 

 

 

 

Perhaps they mean that setting it up online is not available to foreigners, and not being able to invest and manage the mutual funds from your mobile Application. 

 

You'll need to visit the bank or broker to open any account.   You may be asked for a residence certificate or work permit.

 

Once set up, you can buy/sell mutual funds online at Bangkok Bank, or buy/sell stocks at Bualuang.

 

If you're in Bangkok, the Bualuang Office is located near the Silom branch of Bangkok Bank.

[Foxx]

9 hours ago, Startmeup said:

What do long term returns look like for the best performing Thai mutual funds?

 

See https://www.morningstarthailand.com/th/screener/fund.aspx#?filtersSelectedValue={}&page=1&sortField=gbrReturnM120&sortOrder=desc and click on "Long Term Performance".

 

Edited December 7, 2023 by Foxx

[jaideedave]

10 hours ago, Startmeup said:

You invested in Thailand based REIT?

Yes I did.CPNRF was the ticker. It was over 10 years ago so my experience will probably be different than anything available today.

I made what I consider a good ROI.

I would have liked a DRIP option but it wasn't available.  

[JeffersLos]

1 hour ago, Foxx said:

 

See https://www.morningstarthailand.com/th/screener/fund.aspx#?filtersSelectedValue={}&page=1&sortField=gbrReturnM120&sortOrder=desc and click on "Long Term Performance".

 

 

The Top 3 for the year are all blockchain related at 75-85%

 

The bottom 2 are cannabis related at -50%. 

 

The best over 10 years is 15%. 

[Startmeup]

7 hours ago, jaideedave said:

Yes I did.CPNRF was the ticker. It was over 10 years ago so my experience will probably be different than anything available today.

I made what I consider a good ROI.

I would have liked a DRIP option but it wasn't available.  

What do you consider a good ROI?

[Startmeup]

7 hours ago, JeffersLos said:

 

The Top 3 for the year are all blockchain related at 75-85%

 

The bottom 2 are cannabis related at -50%. 

 

The best over 10 years is 15%. 

Doesn't look to be any good This funds, the best performers are mostly US focused.

[jaideedave]

1 hour ago, Startmeup said:

What do you consider a good ROI?

I believe the div was 5.6% plus a decent growth factor. Perhaps the historic records are still available for that period years ago. I was working O&G during that timne and was just looking for somewhere to park my massive wealth.