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Joint investment acc, dividend accumulation, good conditions?


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QUOTE

Somsak Lawyer has just posted a reply to a topic that you have subscribed to titled

"How to set up investm. acount for GF but my sole management".

It is not possible for the account to be in your girlfriend's name with you having authority, it is against the law, but you can put it under a joint account and keep the book with you, so in the event of your death she can take the book to get out the money.

Another way is to open the account in your name and leave it to her in a will.

UNQUOTE

I will follow above advice, invest in stocks, ETF. What I need

- bank with good online banking, broad access to intern markets.

- the aim is to accumulate dividends over 10-15 years

- therefore the cost of collecting dividend is crucial, some US stocks pay even monthly dividends, Which may not advisable because of transaction costs.

Any thoughts?

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I converted some funds from my name only into joint account names a few years back.

Useful for inheritance tax purposes if you re subject to it. Also useful if you pass away.

While the idea of keeping the joint passbook from your partner may appeal to some I see little point. Also bear in mind some accounts dont issue a passbook anyway. Plus your other half could always claim it has been lost ask for a new one forge your signature etc etc So if you are worried about the issue in the first place best not to go that route anyway as there are plenty ways round it.

As for collecting dividends remember they are taxable in Thailand and you can elect either a flat 10% wht or to be included in your thai tax return at marginal rate of tax. On the othet hand if you choose accumulation units where no div is paid out and just sell a few units to "generate income" these will not be taxable as a capital gain. So care on taking divs!

BTW I have also set up some accounts in the format

Child Smile by Mr.Smile which is another thought if you have kids or are planning them. As the kids are minors they cant sign and I have control.

Cheers

Fletch:)

Sent from my GT-I9152 using Thaivisa Connect Thailand mobile app

Edited by fletchsmile
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Belated thanks, Flecht,

the dividend tax hint is very valuable. We are not taxable . Assume I want to invest for my GF in US aristocrat stocks like Co, J&J, XOM, etc , accumulate dividends say, over 10 years. But I don´t want money to be eaten away by buying into a fund. What is the most efficient way?

PS Savings book is not an issue, if I did´nt trust her, I would have been wrong all along.

Edited by THAIPHUKET
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