PM Paetongtarn Faces Legal Battle Over Advisor Appointments

[mcgbilly]

I have a Thai daughter that will be starting University in about 6 years. I want to buy a small basket of stocks for her as an investment to ease the financial costs of college. Yes, I am aware stocks are risky. I am just beginning to start investing for her. I would like to set it up so that ONLY she can get the money when she turns 18. A trust, I guess. I want to keep the taxes as low as possible of course. I am a US Citizen. Anyone know how that will affect my taxes, as far as US Taxes go? Any information out there that can help? Just starting and don't know where to start. Would my Thai bank purchase the stocks and hold them for me/my daughter, as I am a US Citizen? Would they be required to report the transaction to the US IRS?

Any help would be greatly appreciated

Thanks.

[Ubon9]

Hi,

You go to the stock exchange of thailand web site www.set.or.th,

They got 2 office in bangkok one is in Saladeng, is actually on soi saladeng nearly at the end of the soi after an Italian restaurant called "zanotti" the building is on the left side of the street go to the reception and ask to go up on the 4TH floor

they give you a pass,and when up there ask the people you would like to open a trade account you can trade on-line or by phone or if you got time you can go to the exchenge every day and trade by yourself.

To open an account you need to bring your passaport and you must have 1 milion thb in the bank book to show them.

Usually they like you to be introduced by one of their costumers but you trty I'm confident they open a trade account for you.

Buying the stock direct from them the charge is minimal but if you go to a brooker you will pay much more.

[Knightsbridge]

My understanding is by Thai law you must join up with a brokerage. There are no fees to start up an account with a brokerage. They do charge B53,50 incl tax everytime you do a transaction which really is not much if you do largish trades. You have a choice of internet trade (if you're not in a hurry) or to do it directly through your broker (if you want snap decisons made).

list of brokers on the set website.

[Tomkagai]

My understanding is by Thai law you must join up with a brokerage. There are no fees to start up an account with a brokerage. They do charge B53,50 incl tax everytime you do a transaction which really is not much if you do largish trades. You have a choice of internet trade (if you're not in a hurry) or to do it directly through your broker (if you want snap decisons made).

list of brokers on the set website.

Thanks for the info been looking for info......

TRE

[Ubon9]

My understanding is by Thai law you must join up with a brokerage. There are no fees to start up an account with a brokerage. They do charge B53,50 incl tax everytime you do a transaction which really is not much if you do largish trades. You have a choice of internet trade (if you're not in a hurry) or to do it directly through your broker (if you want snap decisons made).

list of brokers on the set website.

You can go and open a trade account with the Set office in Saladeng (i got one) you don't need to register with a brooker;you can buy and sell, if you sell same day don't pay any commission.

[mcgbilly]

Thanks for the info. Will the 1 mil. baht have to be in a Thai bank, or can it be in the US? Also, I got this back from Seamico:

"We regret to inform you that your daughter aged below 20 years old is not able to open stock trading account with us. Please understand that it is applied according to the Thai law.

However, we would suggest you open a stock trading account under your name for full control as your condition. When she grows up to 20 years old, then you can transfer your assets in your stock trading account to her account."

Guess I'll have to put it in my name.

[samran]

www.phatradirect.com is a good one

access to phatra and ML research.

[Knightsbridge]

My understanding is by Thai law you must join up with a brokerage. There are no fees to start up an account with a brokerage. They do charge B53,50 incl tax everytime you do a transaction which really is not much if you do largish trades. You have a choice of internet trade (if you're not in a hurry) or to do it directly through your broker (if you want snap decisons made).

list of brokers on the set website.

You can go and open a trade account with the Set office in Saladeng (i got one) you don't need to register with a brooker;you can buy and sell, if you sell same day don't pay any commission.

Can you trade through the set office online?

[Ubon9]

My understanding is by Thai law you must join up with a brokerage. There are no fees to start up an account with a brokerage. They do charge B53,50 incl tax everytime you do a transaction which really is not much if you do largish trades. You have a choice of internet trade (if you're not in a hurry) or to do it directly through your broker (if you want snap decisons made).

list of brokers on the set website.

You can go and open a trade account with the Set office in Saladeng (i got one) you don't need to register with a brooker;you can buy and sell, if you sell same day don't pay any commission.

Can you trade through the set office online?

Yes,you can trade on line or by phone or if you got time you can go to the exchange in soi saladeng and trade in house (buy and sale same day no charge) You will find there many people trading and same of them they can give you usefully information on same stock,when i was in bangkok i used to go 3 day a week.

Ubon