Daytrading In Thailand?

[fxm88]

I posted this in the Visa forum but didn't get any response so I thought I'd ask over here.

I am a 30-something American staying a long time in Pattaya on tourist visas and 30 day stamps. I would like to know if I would need a work permit to "day trade". (For more on daytrading please see http://en.wikipedia.org/wiki/Daytrading). I would be trading Thai stocks on the Thai stock market with my own money in my own account with a Thai brokerage in one of their local trading rooms (e.g. Thanachart in North Pattaya Tesco Lotus, ABN AMRO/Asia Plus Securities near Dolphin Circle -- where they desks with computer terminals to place trades on, telephones, maybe some TVs tuned to finance channels, a big board showing stock prices, etc.).

In America, for instance, the Tax agencies make some (fuzzy) distinctions between investors and day traders: they consider day traders to be a business (which for tax purposes that can be a huge benefit, see http://daytrading.about.com/cs/educationtraining/a/tax.htm). Some people even consider it to be gambling. What about Thailand? Where might they draw a line, if any, between an investor and an business? Would the immigration authorities and the tax authorities even agree on that line? In other words: in Thailand, is daytrading "work"? Or, for that matter, is investing also "work"?

Perhaps a relevant analogy might be if an individual was buying and selling heaps of gold as the price moved around -- a poor analogy because the price of gold in the shops doesn't change throughout the day and the high commissions would kill you. Or the real-estate speculators who "flip" (i.e. buy and quickly sell) condos -- another poor analogy because that market's not very liquid. As an aside, if it is in fact considered gambling then if and when Thailand ever opens a casino will they require any foreign gamblers to first get work permits?

Thanks!

[Butterfly]

No problem. As long as it is your money. Actually you are encouraged to daytrade and the Thai government will love you for it. No joke. No WP or special VISA required.

There are thousands of foreigners in Thailand doing what you are doing.

btw, no capital gain tax here in Thailand for foreigners, isn't this great ?

[thaistick]

Good luck with daytrading the Thai stock market.Don't be discouraged by the 70%-90% of US daytraders that lose money daytrading the US market.

[Nam Kao]

This site is very good

http://www.twaves.com/S_3-01-2004_Perfomra...4-4-25-2004.htm

[fxm88]

This site is very good

http://www.twaves.com/S_3-01-2004_Perfomra...4-4-25-2004.htm

<{POST_SNAPBACK}>

Good for what? That website has no information on Thai stocks.

[Nam Kao]

Sorry Fmxx, I was directing that to Thaistix post.

T-Waves is US stocks pulling down 33 daytrading points on average a week and

easy to use/trade.

Fmxx is there a complarable site like this to trade the SET?

thanks

nam

[Trader Trainee]

Hi, I've been recently assigned to trade SET. If there is any trader out there it will be great to discuss together. Please contact me. Thanks.

 

Regards