How To Invest My 400k Needed For One Year Visa Ext?

[Phantom200]

I want to transfer 400K THB into Thailand to extend my Non-O visa in April.

I'd like to hear from someone who has experience with LOW to NO risk investments here. A secure money market would be ideal. Any ideas including rates would be fantastic.

thanks!

[exeter]

I was thinking the same as you, the advice I got from a Bank was that there were 2 options. One was a saving account paying 0.5% or longer term acount, cannot remember the name of it, but paid 0.75%. Not great rates but safe. You can also just keep your eye on whats going on financially. Can you withdraw or use anything surplus over your 400,000 baht? Just keep asking if there are better options and importantly find a bank that has English speaking staff. Good luck.

[caf]

I use some of the ING products. They have a fixed income fund. no tax. (That gives more than their Thai baht cash management account, which has a rate just above normal savings rates.)

caf

[aurelius]

Bangkok Bank's Thanathavee mutual fund - money market type. No tax, no transaction fees; once you've opened the account initially, all transactions can be done via internet banking. Daily traded - sell today before 4pm, get funds next business day by midday.

Basic info:

http://www.bangkokbank.com/Bangkok%20Bank/...es/default.aspx

Fund Fact Sheet:

http://www.bangkokbank.com/Bangkok%20Bank/...es/default.aspx

[Phantom200]

Bangkok Bank's Thanathavee mutual fund - money market type. No tax, no transaction fees; once you've opened the account initially, all transactions can be done via internet banking. Daily traded - sell today before 4pm, get funds next business day by midday.

Basic info:

http://www.bangkokbank.com/Bangkok%20Bank/...es/default.aspx

Fund Fact Sheet:

http://www.bangkokbank.com/Bangkok%20Bank/...es/default.aspx

This is what I'm looking for. Are returns calculated and paid monthly?

[monty]

Do remember that the 400K Baht has to be in a cash account when applying for your extensions.

Only once your extension is granted you can move it into a fund or something like that...

[lopburi3]

As said there are only two normal accounts available. Passbook/or statement type savings and fixed deposit accounts. Fund type accounts are normally not accepted for immigration extensions of stay.

[geriatrickid]

Mutual funds are not low risk and they carry hidden fees despite all of the marketing mumbo jumbo. If someone is looking for low risk, then a mutual fund is not the vehicle. I had one of my pensions invested in secure low risk mutual funds. The value today is 25% then it was 5 years ago. This is why the requirement is to have the funds kept in a "liquid" investment as per the above posts.

And no I am not an unsophisticated investor. However, I know enough to know that I should never invest in mutual funds unless I am prepared to also accept the losses.

[aurelius]

Bangkok Bank's Thanathavee mutual fund - money market type. No tax, no transaction fees; once you've opened the account initially, all transactions can be done via internet banking. Daily traded - sell today before 4pm, get funds next business day by midday.

Basic info:

http://www.bangkokbank.com/Bangkok%20Bank/...es/default.aspx

Fund Fact Sheet:

http://www.bangkokbank.com/Bangkok%20Bank/...es/default.aspx

This is what I'm looking for. Are returns calculated and paid monthly?

The fund value is calculated daily. You can sell the fund any business day and get the market rate of that day - the underlying products are primarily bonds issued by Govt or Bank of Thailand, Treasuries, Certificates of Deposit , etc. The fund does not invest in equities, structured notes or derivatives.

Edited January 7, 2010 by aurelius

[aurelius]

Mutual funds are not low risk and they carry hidden fees despite all of the marketing mumbo jumbo. If someone is looking for low risk, then a mutual fund is not the vehicle. I had one of my pensions invested in secure low risk mutual funds. The value today is 25% then it was 5 years ago. This is why the requirement is to have the funds kept in a "liquid" investment as per the above posts.

And no I am not an unsophisticated investor. However, I know enough to know that I should never invest in mutual funds unless I am prepared to also accept the losses.

Sorry that you got such bad advice, but the fund referred to above does not invest in equities, derivatives or structured notes, and has consistently shown an increase in NAV since inception in 2005 (not spectacular, but CONSISTENTLY positive). Not all funds are the same.

[Phantom200]

Mutual funds are not low risk and they carry hidden fees despite all of the marketing mumbo jumbo. If someone is looking for low risk, then a mutual fund is not the vehicle. I had one of my pensions invested in secure low risk mutual funds. The value today is 25% then it was 5 years ago. This is why the requirement is to have the funds kept in a "liquid" investment as per the above posts.

And no I am not an unsophisticated investor. However, I know enough to know that I should never invest in mutual funds unless I am prepared to also accept the losses.

Sorry that you got such bad advice, but the fund referred to above does not invest in equities, derivatives or structured notes, and has consistently shown an increase in NAV since inception in 2005 (not spectacular, but CONSISTENTLY positive). Not all funds are the same.

The BTNTV looks like a decent low risk fund. The rates are better than a Thai savings account. If I can't find a no-risk money market that can beat or meet this fund I will definately give it a go.

[caf]

Savings is yielding 0.5%; Ing thai cash 0.68% last month; bb fixed term 3 months 0.75%; btntv 0.95% last month

btntv looks good and not risky.

caf

[finner]

As Monty says:

"Do remember that the 400K Baht has to be in a cash account when applying for your extensions.

Only once your extension is granted you can move it into a fund or something like that..."

And I will add that the B400,000 must be in a savings account ONLY for 3 months before you apply for the visa. Any kind of investment account, even Term Deposit doesn't count. (Ask me how I know )

finner

[dvdlock]

As Monty says:

"Do remember that the 400K Baht has to be in a cash account when applying for your extensions.

Only once your extension is granted you can move it into a fund or something like that..."

And I will add that the B400,000 must be in a savings account ONLY for 3 months before you apply for the visa. Any kind of investment account, even Term Deposit doesn't count. (Ask me how I know )

finner

This is good info, filed for future use. Thanks guys.

Edited February 2, 2010 by dvdlock

[lopburi3]

Fixed deposit accounts are normally accepted by Immigration from numerous reports.