Are Older Men in Thailand Trading Love for Financial Ruin

[Maki]

I am resident in a European country but stay in Thailand (Bkk) most of my time. Sometimes on Non Immigrant B-visa sometimes on Tourist visa. I dont have a work Permit.

I play on the European and US stock markets online via a European stock broker.

I am considering transferring some funds to Asia and invest on the stock markets worldwide from there. Would like to trade asian markets but US and European would be nice as well. Would like to start with something like 100.000 Euros.

Its my impression Thai brokers only cover the Thai market. If this is the case Thai brokers are not an option for me.

I want to do my trading online.

The Bank/broker could be from Thailand or another country in the region.

I would prefer if the Bank/broker has a branch in Bkk.

Prefer a Bank/broker that cover a reasonably wide range of markets.

Quality of the trading platform is a consideration.

The abillity to transfer the money in and out of the country of the bank/broker hazzle free is a consideration.

Tax on earnings is an important consideration.

Competitive rates matter too ofcourse.

Would very much appreciate if others have been through similar considerations and have experience to share.

Best regards

Maki

[GreenSnapper]

Don't transfer your assets to Thailand. Way to unreliable and legally unsafe.

Stay with SG or HKG.

[wordchild]

As per above don't bring anything into Thailand if what you want is hassel free movement of funds. Singapore or HK your best bet. In Singapore have a look at Phillip secs , they also have an online service poems which has won some awards I believe. They are also members of set so can trade Thai stocks.

Edited October 1, 2012 by wordchild

[kaspercat]

There's no problem transferring money into Thailand for the purpose of investing in the SET. To transfer the money directly out is also no problem.

As long ad you have clear documentation o the funds transfer in, any capital gains, then to transfer out is no problem.

Done it many times before. Those go claim Thailand is so bad or difficult to invest must have never done it.

There's no tax on capital gain.

[GreenSnapper]

There's no problem transferring money into Thailand for the purpose of investing in the SET. To transfer the money directly out is also no problem.

As long ad you have clear documentation o the funds transfer in, any capital gains, then to transfer out is no problem.

Done it many times before. Those go claim Thailand is so bad or difficult to invest must have never done it.

There's no tax on capital gain.

The issue here is not when things work, but when things don't work or problems arise. Then you are left alone, have no legal rights, the formerly friendly bank employee makes his poker face "don't bother me" and that's it.

There is no mentality here for good service or customer care, and that's why you shall not bring major assets into the country. You can trade Thai stocks in other markets as well and don't need to rely on Thai banks.

[ExpatJ]

I use HSBC equities in Singapore, but i cannot recommend them as it is a complex process to call in and order your stocks and they give ZERO, ZILCH, NOTHING in the way of research or advice on equities.

[JSixpack]

There's no problem transferring money into Thailand for the purpose of investing in the SET. To transfer the money directly out is also no problem.

As long ad you have clear documentation o the funds transfer in, any capital gains, then to transfer out is no problem.

Done it many times before. Those go claim Thailand is so bad or difficult to invest must have never done it.

There's no tax on capital gain.

The issue here is not when things work, but when things don't work or problems arise. Then you are left alone, have no legal rights, the formerly friendly bank employee makes his poker face "don't bother me" and that's it.

There is no mentality here for good service or customer care, and that's why you shall not bring major assets into the country. You can trade Thai stocks in other markets as well and don't need to rely on Thai banks.

Yeah, yeah. Got two words for ya: Bill Heinecke.

[kaspercat]

There's no problem transferring money into Thailand for the purpose of investing in the SET. To transfer the money directly out is also no problem.

As long ad you have clear documentation o the funds transfer in, any capital gains, then to transfer out is no problem.

Done it many times before. Those go claim Thailand is so bad or difficult to invest must have never done it.

There's no tax on capital gain.

The issue here is not when things work, but when things don't work or problems arise. Then you are left alone, have no legal rights, the formerly friendly bank employee makes his poker face "don't bother me" and that's it.

There is no mentality here for good service or customer care, and that's why you shall not bring major assets into the country. You can trade Thai stocks in other markets as well and don't need to rely on Thai banks.

I'll disagree with you. I invest here and other countries. The situation is the same everywhere. If you have problem here, it's no different than in SG. It's who you choose to do the banking with. Try private banking. They will do all the paperwork or you and take care of all the transactions.

If the OP is serious about investing and it's a sum serious for investing, then any private banker can handle it without a problem. If you are relying I. Walking into a bank to do the transaction for large sum, you will turn some heads regardless of country.

[yoshiwara]

I use HSBC equities in Singapore, but i cannot recommend them as it is a complex process to call in and order your stocks and they give ZERO, ZILCH, NOTHING in the way of research or advice on equities.

HSBC provide an online equities service in Hong Kong and would be surprised if they don't do the same in Singapore.

With regards to research you have plenty available to you on a large number of websites.

[Maki]

There's no problem transferring money into Thailand for the purpose of investing in the SET. To transfer the money directly out is also no problem.

As long ad you have clear documentation o the funds transfer in, any capital gains, then to transfer out is no problem.

Done it many times before. Those go claim Thailand is so bad or difficult to invest must have never done it.

There's no tax on capital gain.

The issue here is not when things work, but when things don't work or problems arise. Then you are left alone, have no legal rights, the formerly friendly bank employee makes his poker face "don't bother me" and that's it.

There is no mentality here for good service or customer care, and that's why you shall not bring major assets into the country. You can trade Thai stocks in other markets as well and don't need to rely on Thai banks.

I'll disagree with you. I invest here and other countries. The situation is the same everywhere. If you have problem here, it's no different than in SG. It's who you choose to do the banking with. Try private banking. They will do all the paperwork or you and take care of all the transactions.

If the OP is serious about investing and it's a sum serious for investing, then any private banker can handle it without a problem. If you are relying I. Walking into a bank to do the transaction for large sum, you will turn some heads regardless of country.

Thank you. I had some experience with Private banking and its without question the most costly way to handle your money. It may not be apparent at first but the luxury of having private bankers buy u lunch and hold ur hand comes at a very high price. All they are about is steering u away from rational course of action for their own benefit.

[wordchild]

i would ask yourself if you really need a broker in the region. What is the problem you are needing to solve? If you are happy with the people you use in Europe why change? I use a broker in the UK that i have used for years. My initial feeling, when i first moved to Asia, was that i should change to a broker in the region and i have tried out a couple. While they were fine i have found it has been easier just to continue to use my UK broker. They can deal (or use an intermediary to deal) in any market i wish (incl Thailand) . I use them both in a personal capacity and also for a couple of linked offshore trusts, incl my QROP, with no issues. Everything is so much easier, international money transfers (no size limit) to any of my nominated bank a/cs in any currency with just a phone call, no forms or faxes, what a joy!

Edited October 7, 2012 by wordchild

[Maki]

i would ask yourself if you really need a broker in the region. What is the problem you are needing to solve? If you are happy with the people you use in Europe why change? I use a broker in the UK that i have used for years. My initial feeling, when i first moved to Asia, was that i should change to a broker in the region and i have tried out a couple. While they were fine i have found it has been easier just to continue to use my UK broker. They can deal (or use an intermediary to deal) in any market i wish (incl Thailand) . I use them both in a personal capacity and also for a couple of linked offshore trusts, incl my QROP, with no issues. Everything is so much easier, international money transfers (no size limit) to any of my nominated bank a/cs in any currency with just a phone call, no forms or faxes, what a joy!

Thank you for ur answer.

For me its mainly about taxes and quietly generating some of my share income away from my home country.

Also to some degree its about access to more markets in a cheaper way.

I am used to paying between 0.05-0.15 commission on european and US markets for online trades. These are the only markets i can access directly currently.

I found out the online rates from for example a Singapore Bank are not cheap.

http://www.poems.com.sg/globalmarkets/global_jp.html

[ExpatJ]

I use HSBC equities in Singapore, but i cannot recommend them as it is a complex process to call in and order your stocks and they give ZERO, ZILCH, NOTHING in the way of research or advice on equities.

HSBC provide an online equities service in Hong Kong and would be surprised if they don't do the same in Singapore.

With regards to research you have plenty available to you on a large number of websites.

They were going to set up an online system for singapore, but its postponed indefinitely now. My Thai bank/brokerage (SCB securities) gives me excellent research and analysis daily; if a thai bank can provide this service there is no excuse for HSBC not too.

[yoshiwara]

I use HSBC equities in Singapore, but i cannot recommend them as it is a complex process to call in and order your stocks and they give ZERO, ZILCH, NOTHING in the way of research or advice on equities.

HSBC provide an online equities service in Hong Kong and would be surprised if they don't do the same in Singapore.

With regards to research you have plenty available to you on a large number of websites.

They were going to set up an online system for singapore, but its postponed indefinitely now. My Thai bank/brokerage (SCB securities) gives me excellent research and analysis daily; if a thai bank can provide this service there is no excuse for HSBC not too.

I have checked. You are correct. Just a phone brokerage service for Premier customers. Quite primitive compared to what's on offer in Hong Kong.

[elektrified]

You can invest in global equities here in Thailand. I have all my shares here, held in THB, EUR, and CHF. It does take some effort finding a firm to accommodate you. You can sell shares in almost any currency but when you need the cash you can only receive it in Thai Baht even if you have a EUR or CHF account, etc. at a Thai bank. The one problem is getting the cash out of the country. I don't care as I am here for the long haul and even if I wasn't my son is here.

Oh and commissions are reasonable; i.e about 30 EUR, CHF, etc. to make a trade. Trades on the SET are much cheaper.

If you are an American and want to trade USA stocks, the Thai broker will require you to sign a U.S. tax form. If you are American and want to trade U.K. stocks, you can't.

Tax on dividend income is 10%.

Edited October 9, 2012 by elektrified