Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[CrossBones]

Hi

I have cash in thailand and want to trade internationally, what should i do?

Also in Thailand how does tax/capital gains work ?

What should i do can someone point me in the right direction?

[homeslice]

I don't know enough about your situation to give a clear plan of action but if it were me I would get the money to a country where it is politically stable. Barring that it takes 10,000 usd to open an account with the SET.

I spoke with HSBC last week about multi-currency accounts and they told me that to buy other currencies I had to first convert to Thai baht then the currency of choice, costing you twice on the trade.To open a non-resident account HSBC wants 500,000 baht in an non interest bearing account with a 500 baht per month maintenance fee. I asked how many fools had these types of accounts, they declined to answer.

There are good banking privacy laws in Singapore and Malaysia, countries in the neighborhood, but Sing is more advanced and stable. You can trade in dollars there, and probably the pound and euro.

Whatever you do, don't take your eye off the ball.