What Can I Do With $100,000?

[parallaxtech]

I live permanently in Thailand, own a house here, and have 3MB in Thai banks. The problem is that I am getting over $100K sent here from an offshore real estate transaction. I am a US citizen and file the FBAR each year, but feel if I send the money into the US it will ring bells at the IRS. Will some of you financial geniuses on TV look at what I think are my options below and comment?

1. Put 1MB in several Thai banks and get the maximum interest, possibly 3.5%.

2. Invest in more or enhance current real estate in Thailand (currently have 15MB invested).

3. Put money in HK or Singapore (small interest and less control, but stable currency).

4. Open an e-trade or Schwab account (currently have a large portfolio with Fidelity US).

5. Deposit the money in my Fidelity US account.

[binjalin]

Buy gold

[parallaxtech]

I invested heavily in gold when it was around $650/oz and still have it but feel now that it might be a risky move. If it took a sudden drop of 10-20% I would put more into it.

Edited February 4, 2012 by parallaxtech

[binjalin]

I invested heavily in gold when it was around $650/oz and still have it but feel now that it might be a risky move. If it took a sudden drop of 10-20% I would put more into it.

Seems sensible i just sold my gold at 25450 and want back in but am nervous - lucky you buying at 650 wich i was half as wise! I suggested gold as i think longer term it will break 2000

[Heimdallr]

As long as you don't park it in stocks or Bangkok condominiums I think you are fine.

[chiangmaibruce]

There are a number of similar prior discussion threads in this forum. If you can locate them (by forum searching or scrolling back through past threads) they might well be of interest.

With regards to that proportion of your funds that you decide to retain within Thailand, this earlier thread may be of interest: http://www.thaivisa....st-three-years/

Edited February 4, 2012 by chiangmaibruce

[Gone]

None of us are "Permanent Residents" here unless you have taken up Thai Citizenship?

[flying]

None of us are "Permanent Residents" here unless you have taken up Thai Citizenship?

Actually AFAIK you can apply for Permanent Residence

Which is not the same as citizenship

[PattayaParent]

I vote

6. Give it to PattayaParent

[parallaxtech]

CMB: Just what I was looking for so thanks mucho for that! However, I'm still a bit scared of that gold bubble right now.

For others: Never said I was a permanent resident or citizen, but just live here and nowhere else, hence live permanently or full-time here.

Edited February 4, 2012 by parallaxtech

[rfukata]

Parallel,

I am retired and have a similar situation in which I have money here (Thailand) in several fund market high yielding interest etc, and also I am a US citizen filing all appropriate US FED/State taxes, disclosures etc. If you have foreign accounts, you should disclose on the TDF90.22.1 annually.

As long as your filings are correct and honest (with records), you need not worry about the IRS or the Feds harping on you even with

$100K sent to you. (unless you have 100's of million US, then I would seek an US tax atty. or CPA.

in summation, concerning your 100K, I would deposit into your Fidelity account and perhaps create a separate Roth or conventional IRA.

[FritsSikkink]

None of us are "Permanent Residents" here unless you have taken up Thai Citizenship?

I tought you were gone already??

[Prichard]

Parallaxtech, from personal experience I say put it in Fidelity and get on in one of the IPO offers and watch it multiply. Though you need to do your own homework but you'll be glad you did if you hit the right one. I was a lucky one. Good luck to you. Cheers.

[parallaxtech]

Prichard: Thanks for the tip. I've been with Fidelity since 1994 and didn't know that they had IPO offerings. I just signed up with their IPO notifications alert service so will try my luck.

What scares me is that I belong to several financial services groups and they are all advising to get your money out of the US. They say that congress will enact laws very soon that will prevent US citizens from taking money out of the US. It sounds preposterous but they realize that the wealth is moving out while the poor are moving in so they figure it is a trememndous loss of tax revenue.

Edited February 4, 2012 by parallaxtech

[flying]

What scares me is that I belong to several financial services groups and they are all advising to get your money out of the US. They say that congress will enact laws very soon that will prevent US citizens from taking money out of the US. It sounds preposterous but they realize that the wealth is moving out while the poor are moving in so they figure it is a trememndous loss of tax revenue.

Don't know if it is true but I will say on my last few trips from US to Thailand the goons at departure make a big deal out of asking every single person if they are carrying more than 10k

These are not TSA folks either. Customs I guess? They are stationed right at the boarding line

[SurfRider]

.

If the 100K qualifies as "worldwide income" and has not already been taxed by the IRS, there's no viable way around paying the taxes that you owe.

If not, or whatever remains after taxes-- I'd suggest investing in the top ten Dividend Champions (solid U.S. companies that have consistently raised their dividends over the past 25 years). Currently paying around a 5.8% yearly dividend yield.

http://seekingalpha....e-profitability

http://dripinvesting...ndChampions.xls

.

[Dancealot]

Spread the risk and do 1-5

[andvari26]

You can use it in the Options / Futures market with a Co who knows what they are doing, see their history - PM me for an introduction, Australian Based Co, it takes an average of 15 minutes a day of your time to manage & you keep your funds in your own account !

Past Performance:

2007 ( 45 closed trades )

+61.00%

2008 ( 51 closed trades )

+56.35%

2009 ( 54 closed trades )

+119.78%

2010 ( 45 closed trades )

+62.48%

2011 ( 48 closed trades )

+61.16%

2012 ( 2 closed trades )

+1.99%

Total - 2006 to 2011 to date

[rfukata]

What scares me is that I belong to several financial services groups and they are all advising to get your money out of the US. They say that congress will enact laws very soon that will prevent US citizens from taking money out of the US. It sounds preposterous but they realize that the wealth is moving out while the poor are moving in so they figure it is a trememndous loss of tax revenue.

Don't know if it is true but I will say on my last few trips from US to Thailand the goons at departure make a big deal out of asking every single person if they are carrying more than 10k

These are not TSA folks either. Customs I guess? They are stationed right at the boarding line

You need to file form C-105 previous was form 4790 if you are carrying in excess of $10,000 USD out of the US.

not a big deal, you can download this form or go to US customs airport office and sign off on the form prior to departure

or ask the customs agent for this form when approached if you do have in excess of $10K at the boarding line.

[flying]

You need to file form C-105 previous was form 4790 if you are carrying in excess of $10,000 USD out of the US.

not a big deal, you can download this form or go to US customs airport office and sign off on the form prior to departure

or ask the customs agent for this form when approached if you do have in excess of $10K at the boarding line.

Yes that is a given & always was.

But they never had folks questioning each & every departing passenger in the departing line.

Why the sudden double check?

It would be like TSA standing at the gate after you passed their section already & asking...You sure you have no guns knives to declare?

Just seemed very odd.

[ExpatJ]

I would recommend investing in Thai stocks- there are some blue chip growth stocks around (e.g. KBANK) plus great dividend plays (ADVANC, TTW) of upto 7% dividends. Also think about indonesia, or singapore stocks. In any case, now is a good time given the big fall in stock prices over the last few months.

Basically putting money in savings accounts will see you losing money over time given that inflation is likely to be higher...

Putting in gold is still also also good bet if you dont currently have any gold

[parallaxtech]

What broker do you use? Fidelity doesn't want to handle my money outside of the US and Schwab/Etrade require letters from the IRS, etc. Are you able to buy these stocks through a Thai bank?

[ExpatJ]

What broker do you use? Fidelity doesn't want to handle my money outside of the US and Schwab/Etrade require letters from the IRS, etc. Are you able to buy these stocks through a Thai bank?

I use SCB securities - i also use kim eng but find SCB to provide much better service and free research material

[djayz]

As long as you don't park it in stocks or Bangkok condominiums I think you are fine.

What's wrong with investing in Bangkok condominiums?

[SurfRider]

.

"What's wrong with investing in Bangkok condominiums?"

http://link.brightco...ctid=1126133172

.

[yougivemebaby]

.

"What's wrong with investing in Bangkok condominiums?"

http://link.brightco...ctid=1126133172

.

That sucks

[ExpatJ]

As long as you don't park it in stocks or Bangkok condominiums I think you are fine.

What's wrong with investing in Bangkok condominiums?

There is a weird pattern on thaivisa- generally, people with no money to invest will tell you how bad it is to invest in bangkok condos; those with money to invest will to you its worth checking out.

[supermandead]

How about Vietnam? Vietnam bank is offering 14% p.a..

[bendix]

How about Vietnam? Vietnam bank is offering 14% p.a..

Not particularly attractive if you live in Vietnam, where the inflation rate is around that level too, and not particularly attractive if you live in Thailand where the VND has collapsed against the Baht over the last year.

[4evermaat]

You need to file form C-105 previous was form 4790 if you are carrying in excess of $10,000 USD out of the US.

not a big deal, you can download this form or go to US customs airport office and sign off on the form prior to departure

or ask the customs agent for this form when approached if you do have in excess of $10K at the boarding line.

Yes that is a given & always was.

But they never had folks questioning each & every departing passenger in the departing line.

Why the sudden double check?

It would be like TSA standing at the gate after you passed their section already & asking...You sure you have no guns knives to declare?

Just seemed very odd.

Odd, but not surprising if it is in fact true. A lot of increased surveillance from Big Brother.