Setting Up US Ira Account In Thailand

[Swelters]

I have an IRA retirement account at a US bank but cannot access any investments such as many mutual funds that are not acessible to the US bank. I'd like to be able to invest locally here in Thailand. Anyone know if it is possible to set up a separate IRA here for all or part on one's retirement funds?

[Khun Bob]

I know very little about this - but singapore or hong kong will provide good quality services and may help to overcome US based problems - I think one of the biggest problems to overcome (with due respect) is your nationality and the effect it has on getting financial service outside of the US - war on terror fallout.

Nevertheless, if your out of the way and can move the cash cleverly, it may be possible to do it. But it depends on what you have to lose and gain.

[Jingthing]

You want to set up a US IRA in Thailand? I think not. What you might be able to do is move your current IRA to another firm and open a "brokerage IRA" account which would allow you alot more investment options.

[lanny]

AFAIK no bank or broker outside the US can open an IRA for you. IRA are actually trust accounts and the trust agreement must be approved by IRS. Since the IRS has no jurisdiction over banks and brokers outside the US, the agreements cannot meet the requirements established by the Internal Revenue Code.

You may be able to open an IRA account with a broker in the US who will permit you to make investments in offshore companies. You need to shop around to find such a broker, though. I don't know of any and I do know of some large ones who do not allow this.