Thai Work Permit - What Are The Benefits?

[Jayman]

I am wondering how the OP got a work permit to trade online with a broker. Just cause you have a work permit doesn't mean you can work any job you like. The work permit is specific for the job you are allowed to do. Did you obtain a work permit specifically for trading with a broker? I am very much interested in getting more information on how you did this.

Thanks.

EDIT: To clarify, I am looking for information on legally obtaining a work permit to work for myself as an online trader in markets outside of Thailand. As I understand it, if I am actively trading inside of thailand (even on markets outside of Thailand), a work permit is required. Is that correct?

Edited May 26, 2013 by Jayman

[balo]

Rubbish, I have a KTC Credit card and had no work permit.I previously had a Work Permit and paid social security, still pay it now without working.

What are you talking about? This is not rubbish. Of course you can apply for a credit card if you have a work permit.

Some banks allow you to apply for a credit card without a work permit. My first credit card was issued when I was a student. This is a credit card we are talking abut, not a debit card.

Who mentioned debit card ?.................. was you credit card secured or unsecured ?

If your question is whether I had to make a fixed deposit to match the credit limit, the answer is no. I did have an account with that branch, but it was a savings account with about THB 1,000 at the time.

Then you must have been very lucky or maybe the bank did a mistake.

All the banks I have asked they want to see a wp . I have 200k in my Kasikorn savings account and all they will give you is a Visa debit card.

[Arkady]

I am wondering how the OP got a work permit to trade online with a broker. Just cause you have a work permit doesn't mean you can work any job you like. The work permit is specific for the job you are allowed to do. Did you obtain a work permit specifically for trading with a broker? I am very much interested in getting more information on how you did this.

Thanks.

EDIT: To clarify, I am looking for information on legally obtaining a work permit to work for myself as an online trader in markets outside of Thailand. As I understand it, if I am actively trading inside of thailand (even on markets outside of Thailand), a work permit is required. Is that correct?

A work permit is not required to invest your own money as long as you are not physically working in Thailand for the business you invest in. You could only get one, if you are employed by a licensed broker in Thailand to trade stocks for the house portfolio either in Thailand or outside. You will also need to pass an exam to get licensed by the SEC.

Why would you want a work permit, if you are not working anyway. It is a huge amount of hassle. You have to set up a company, have 4 Thai employees, produce audited accounts, pay tax for yourself and the company etc, etc. Best to let sleeping dogs lie.

[MacWalen]

If you have your own money and want to trade on a Thai stock market most likely you will need a work permit. Any names of Thai brokers that will open you a trading account without a work permit? I would like to verify it as I am really not convinced that you can do that without a work permit.

Again, I am not talking about trading in another country and being physically in Thailand, you would not need a work permit for that. Rather the other way round. You could trade in Thailand directly being somewhere else if you had a work permit. Also I am not talking about buying Thai stocks through foreign brokers but about trading directly with a Thai broker.

[joepattaya1961]

With a WP you will also get a membership of the Thai Revenue Department.

[Arkady]

If you have your own money and want to trade on a Thai stock market most likely you will need a work permit. Any names of Thai brokers that will open you a trading account without a work permit? I would like to verify it as I am really not convinced that you can do that without a work permit.

Again, I am not talking about trading in another country and being physically in Thailand, you would not need a work permit for that. Rather the other way round. You could trade in Thailand directly being somewhere else if you had a work permit. Also I am not talking about buying Thai stocks through foreign brokers but about trading directly with a Thai broker.

Absolute nonsense. All Thai brokers will open accounts for foreigners without a WP. If you are working in Thailand at a regular job they will take a copy of your WP. If you are here on a NON O visa and retirement extension or marriage extension without working that would also be OK. I have several accounts at various Thai brokers and none of them ever suggested I should have a WP to trade my own portfolio. Some accounts I opened when not working and showed my PR documents and tabien baan. Nothing else was requested and one broker even gave me a margin account as an unemployed person at the time. If you have a job with a broker, you will not be allowed to open an account with another broker.

As already mentioned, it would be impossible to get a WP to trade stocks (for other people) without being employed by a licensed broker or asset management company and you would need a Thai licence obtained by passing an exam yourself.

Please everyone forget about this ridiculous notion of a WP for trading your own portfolio.

Edited May 31, 2013 by Arkady

[MacWalen]

If you have your own money and want to trade on a Thai stock market most likely you will need a work permit. Any names of Thai brokers that will open you a trading account without a work permit? I would like to verify it as I am really not convinced that you can do that without a work permit.

Again, I am not talking about trading in another country and being physically in Thailand, you would not need a work permit for that. Rather the other way round. You could trade in Thailand directly being somewhere else if you had a work permit. Also I am not talking about buying Thai stocks through foreign brokers but about trading directly with a Thai broker.

Absolute nonsense. All Thai brokers will open accounts for foreigners without a WP. If you are working in Thailand at a regular job they will take a copy of your WP. If you are here on a NON O visa and retirement extension or marriage extension without working that would also be OK. I have several accounts at various Thai brokers and none of them ever suggested I should have a WP to trade my own portfolio. Some accounts I opened when not working and showed my PR documents and tabien baan. Nothing else was requested and one broker even gave me a margin account as an unemployed person at the time. If you have a job with a broker, you will not be allowed to open an account with another broker.

As already mentioned, it would be impossible to get a WP to trade stocks (for other people) without being employed by a licensed broker or asset management company and you would need a Thai licence obtained by passing an exam yourself.

Please everyone forget about this ridiculous notion of a WP for trading your own portfolio.

So you are a permanent resident?

[MacWalen]

I am not sure how true is opening accounts on non-O, I will ask my staff to check it.

[Pattaya46]

If you have your own money and want to trade on a Thai stock market most likely you will need a work permit.

No, you don't need one.

I know a small group of retired guys who "play" on the Thai market with portfolios of a few millions baht. They several times proposed me to join their group and all I would need is a copy of my passport & a domestic bill for address. Sure that none of them has a WP.

They use Bualuang trader : http://www.bualuang.co.th/en/