Can i buy S&P 500 etf in thailand via my bank and if I can sell my gold?

[parafareno]

Is it possible to bring gold to thailand and sell the bar for same price as I bought it in my country in Europe?

Also how to buy SPY sp500 etf in Thailand via my bnk there?

[anchadian]

To purchase an ETF in Thailand you'll need to open a Thai bank account that deals in funds, in your case the S&P 500 and most of them do. 

 

 

[Captain Monday]

Really carry a gold bar into Thailand?

 

 

[CharlieKo]

Forget about buying the S&P 500 and keep your gold. 

[Mike Lister]

Investment grade gold bars found overseas are 99.5% pure gold and stamped 995.

 

Thai gold bars are typically 96.5% gold which is only 23 carat, they are stamped 965.

 

Why?

 

Because 99.5% gold is too soft for gold jewellery that is worn every day, 22 or 23 carat is much harder wearing.

[digbeth]

bars are difficult to smuggle in unnoticed, they x-ray bags on arrivals sometime, if they noticed, you'll be watched after baggage claim and ask to open your luggage if you don't go through the 'something to declare' exit

 

coins however, mixed in with regular coins in your pocket or purse... how could they tell? 

 

Selling to gold shops is no problem, they'll happily molten them down to use in their jewelry

there are reporting requirements the gold shop has to comply for money laundering law, they'll need ID and has to report if the transaction is over certain threshold, 2 million baht if dealing in cash, transfer of sales to bank accounts are exempt from reporting rule as the banks will be the ones doing the reporting and they already have your details

 

[parafareno]

2 hours ago, anchadian said:

To purchase an ETF in Thailand you'll need to open a Thai bank account that deals in funds, in your case the S&P 500 and most of them do. 

 

 

i have scb for 15 years now.....   will I have to pay tax on stocks to thai government?

[Mike Lister]

4 minutes ago, parafareno said:

i have scb for 15 years now.....   will I have to pay tax on stocks to thai government?

10% with holding tax.

[parafareno]

3 minutes ago, Mike Lister said:

10% with holding tax.

i dont understand

 

if sp 500 makes me 10 % profit in 5 years I pay 10 % of 10%?

[Mike Lister]

1 minute ago, parafareno said:

i dont understand

 

if sp 500 makes me 10 % profit in 5 years I pay 10 % of 10%?

10% of any dividend income

 

https://taxsummaries.pwc.com/thailand/individual/income-determination

[parafareno]

1 minute ago, Mike Lister said:

10% of any dividend income

 

https://taxsummaries.pwc.com/thailand/individual/income-determination

even though i am not a resident?  I mean 10 % is not bad...in my country it is 25 % 

[Mike Lister]

2 minutes ago, parafareno said:

even though i am not a resident?  I mean 10 % is not bad...in my country it is 25 % 

With holding tax is with held when the dividend is paid, just like interest on bank savings has 15% with held. It's up to you to file a tax return and reclaim the tax or to use the Dual Tax Agreement options in your home country.

[cowellandrew]

17 hours ago, parafareno said:

Is it possible to bring gold to thailand and sell the bar for same price as I bought it in my country in Europe?

Also how to buy SPY sp500 etf in Thailand via my bnk there?

I wear my 3 baht gold chain when entering Thailand but take it off when visiting walking Street!

😂🤔

[beautifulthailand99]

I've done it, you need to trawl round the Yaowrat Road in Chinatown. Most won't touch foreign 99.999 - even though mine was Royal Mint and bubble wrapped with a certificate. 2 shops gave me prices but it was for the spot 96.5% - the difference is for their cut and smelting costs, and they broke open the seal and will melt it down even though they were beautiful Britannia bars. Carry it on your person, though, no problem taking it out of the UK nor into Thailand.

Edited March 28 by beautifulthailand99

[scoutman360]

14 hours ago, parafareno said:

i dont understand

 

if sp 500 makes me 10 % profit in 5 years I pay 10 % of 10%?

I think there is some confusion. Dividend income is treated like ordinary income. If you made 10% dividend income, then you would be taxed 10% of your dividend. However, I understand Thailand does not have capital gains tax on valuation increases of your stock. That is tax free. Someone please correct me if I am wrong. 

[Lacessit]

Thai gold is lower purity than 99.5% bullion.

While you can sell your gold, it will be at a loss. Shops will only give you the same price as Thai gold, banks will want commissions.

Better to sell bullion in your home country.

[soi3eddie]

21 hours ago, CharlieKo said:

Forget about buying the S&P 500 and keep your gold. 

 

I just sold SP500 at highs and am keeping my gold as it goes ever higher (over 38,000 THB/Baht weight today).

 

[soi3eddie]

5 hours ago, beautifulthailand99 said:

ou need to trawl round the Yaowrat Road in Chinatown. Most won't touch foreign 99.999 - even though mine was Royal Mint and bubble wrapped with a certificate. 2 shops gave me prices but it was for the spot 96.5% - the difference is for their cut and smelting costs, and they broke open the seal and will melt it down even though they were beautiful Britannia bars. Carry it on your person, though, no problem taking it out of the UK nor into Thailand.

 

When I bought last year I wanted 99.999 but could not get easily unless buying 1kg bars (too much and not easily traded). In the end I settled for multiple bars at different sies in 96.5% which can be traded on almost any street in SE Asia. Over 6,000 Baht/Baht weight up now in 12 months. Very happy. Hua Seng Heng in Yaowarat are an excellent source.

 

 

[beautifulthailand99]

.

Edited March 28 by beautifulthailand99

[digbeth]

3 hours ago, Lacessit said:

Thai gold is lower purity than 99.5% bullion.

While you can sell your gold, it will be at a loss. Shops will only give you the same price as Thai gold, banks will want commissions.

Better to sell bullion in your home country.

 

If the shop give you spot price for Thai gold (96.5%/23K) when selling 99.99% 24K gold walk away, it's not like they don't know what they are and will happily sell 24k gold for a premium

 

calculating what price should be paid over the spot price will seem difficult, if all you know is the spot price for Thai gold per baht weight and the 24k bullion you have is in grams but the Thai gold traders association that set the price each day actually has a reference price for 99.99gold per gram https://www.goldtraders.or.th/DailyPrices.aspx