Are Older Men in Thailand Trading Love for Financial Ruin

[Easyliving]

Hey guys,

Any daytrader out there? Im a daytrader myself considering moving most likely to Phuket. Maybe Pattaya or Bangkok.

Is there any restrictions in terms of what you are able to trade? What about tax in short? Can you do daytrading well in Thailand? In terms of speed of internetconnection, stability, timezone lifestyle and so on.

Thanks in advance

Love

Easyliving

Edited September 23, 2012 by metisdead
: Please default forum font when posting: Arial size 14.

[NeverSure]

I have a day trading account in the US which I use. It is attached to a US bank account. When I visit Thailand I have still used it there. There is the time difference. I do have Asian funds in my portfolio, but they are mostly China and VNam.

I don't know the legal ramifications except that I have to pay taxes on gains in the US.

More and more my favorite way to play foreign markets is to buy US companies which do a lot of business overseas, including those opening many stores or factories overseas. They are easier for me to understand than are the strictly foreign companies. I have more trust.

Edited September 23, 2012 by NeverSure

[Genericnic]

Hey guys,

Any daytrader out there? Im a daytrader myself considering moving most likely to Phuket. Maybe Pattaya or Bangkok.

Is there any restrictions in terms of what you are able to trade? What about tax in short? Can you do daytrading well in Thailand? In terms of speed of internetconnection, stability, timezone lifestyle and so on.

Thanks in advance

Love

Easyliving

I live in CM and do day trading as well (should be called night trading here - see below) though I do not trade Asian securities. Like the prior post, I have a US based trade account (Scottrade) and an attached bank account.

I have both a primary ISP and a backup. A backup is essential due to the current state of reliability in Thailand.

No Thai tax implication that I have found. general US tax code applies as it would if you were trading in the states.

I haven't found any problems generally other than the time difference. US markets open at 8:30 p.m. and close at 3:00 a.m. Thailand time. I'm a night person so that is generally no problem for me.

David

[HardenedSoul]

I trade using three accounts in the UK.

Profits from spreadbetting and CFD trading are non-taxable in the UK - at the moment.

Investing in the stockmarket, Thailand's SET or others around the world, is not regarded as work so a work permit is not required nor does one have to pay tax.

Rather nice, I think.

[barefoot1988]

get a ups, mobile internet and line internet. black outs happen quite often in my area (mhs), got my balls up the throat with a dead router & cpu once while scalping

[Genericnic]

get a ups, mobile internet and line internet. black outs happen quite often in my area (mhs), got my balls up the throat with a dead router & cpu once while scalping

+1

David

[loong]

I trade using three accounts in the UK.

Profits from spreadbetting and CFD trading are non-taxable in the UK - at the moment.

Investing in the stockmarket, Thailand's SET or others around the world, is not regarded as work so a work permit is not required nor does one have to pay tax.

Rather nice, I think.

Profits from spreadbetting and CFD trading are non-taxable in the UK - at the moment.

Spreadbetting is gambling and as gambling winning are not taxed in the UK, profits are tax free. Losses cannot be offset against capital gains obviously. It is possibly illegal to spreadbet whilst in Thailand as gambling is against the law. In reality though, not likely to be a problem.

I'm pretty sure that profits from CFDs are taxable though.

[HardenedSoul]

I trade using three accounts in the UK.

Profits from spreadbetting and CFD trading are non-taxable in the UK - at the moment.

Investing in the stockmarket, Thailand's SET or others around the world, is not regarded as work so a work permit is not required nor does one have to pay tax.

Rather nice, I think.

Profits from spreadbetting and CFD trading are non-taxable in the UK - at the moment.

Spreadbetting is gambling and as gambling winning are not taxed in the UK, profits are tax free. Losses cannot be offset against capital gains obviously. It is possibly illegal to spreadbet whilst in Thailand as gambling is against the law. In reality though, not likely to be a problem.

I'm pretty sure that profits from CFDs are taxable though.

Quite right. CFD profits are, indeed, taxable.

Technically, spreadbetting is gambling but, as you say, it's highly unlikely that anyone trading in this manner from within the Kingdom will find him/herself in any grief.