best way to invest 3M baht.... sitting idle in bank

[MJKT2014]

29 minutes ago, steven100 said:

too late for that .... 

Why? Market is up or down 25% on any given day.

[timendres]

If you live in Bangkok, or can easily arrange to meet in Bangkok, please PM me.

I have an opportunity for putting this money to work that I think you should consider.

[khunPer]

Can you open another account at Kasikorn Bank without a Visa..?

 

In that case, take a look at Kasikorn's so-called Fund Books (mutual funds), some of low-risk funds may perform better than fixed bank accounts, and with some risk you can exceed 10% pa.

 

Another possibility is to open a trade account at SET (Stock exchange of Thailand) and invest directly in some well established dividend paying companies. Foreigners can easily hold stocks, as long as they omit their voting rights (so-called NVDR, non-voting depository receipt). You may be able to open an on-line trading account in Kasikorn Bank (ask, I presume similar as the on-line I use in SCB).

[bbi1]

1 hour ago, MJKT2014 said:

Why? Market is up or down 25% on any given day.

Bitcoin tumbled 19% at its lows Thursday and has lost about $10 billion in market value since June 12:

 

http://www.marketwatch.com/story/bitcoin-is-on-pace-to-have-its-worst-week-since-2015-2017-06-15

[seancbk]

2 hours ago, pumpjack said:

i just sold a condo ....never ever again !! 

 

to the guy who says " you dont need a visa to open a bank account  "      oh yes you do  !!!  

I opened a bank account last week at Kasikorn Bank on a tourist visa

 

Some banks will do it, some won't.  As has been said on here many times you just have to ask in another bank.   

edited:  Thought you were referring to a non immigrant visa, rather than a tourist visa.

Edited June 16, 2017 by seancbk

[williamgeorgeallen]

3 mill is not really worth doing anything with in thailand. property is a waste of time especially if you want to leave as it takes years to sell.  whats your home country? new zealand is offering 3.7% bank deposit at the moment. that is a good deal, slightly more than inflation. better to get the cash back to your home country. might be tricky if you decide to leave in a hurry.

[bbi1]

1 hour ago, williamgeorgeallen said:

3 mill is not really worth doing anything with in thailand. property is a waste of time especially if you want to leave as it takes years to sell.  whats your home country? new zealand is offering 3.7% bank deposit at the moment. that is a good deal, slightly more than inflation. better to get the cash back to your home country. might be tricky if you decide to leave in a hurry.

Agreed. Better go to the casino and just put it on red or black lol

[Freespirit]

7 hours ago, steven100 said:

so I can sit at the bar and get pissed all day and get my 10% ..... 

 

wow  !   where do I sign ....      lol

Genuine offer, message, me if your interested.

[peterb17]

Come on people-all those guys pretending to make a fortune- to many people 3 million baht is a lot of money- he is asking some advice.

 

Of course we all know TV members are amongst the .1% - living fabulous lives in the middle of nowhere watching the rice grow - and looking out for snakes in the rafters.

 

I would not worry- just keep it the bank - spend a bit every now and again. I think there is going to be a bit of a melt down- the markets can't keep going up for ever. Don't be obsessed about money and investments . 

Edited June 16, 2017 by peterb17

[ericthai]

12 hours ago, TunnelRat69 said:

Aaaah...........but when I transferred my Bank account to another branch, they asked for my passport that had the Visa in it, they made a copy of that page - didn't matter to them that the Passport had expired, they wanted to see the Visa.  SCB.

Each bank and branch makes their owns rules.  I have helped friends that are on a visa exempt entry open a bank account. You just need to hit a few branches.  

[ericthai]

 

11 hours ago, pumpjack said:

i just sold a condo ....never ever again !! 

 

to the guy who says " you dont need a visa to open a bank account  "      oh yes you do  !!!  

You just need to check around, each bank  and branch have their own rules. I have helped a few friends open an account. Go to one bank and they so no go to the next, one of them will do it. 

[garbolino]

On 6/16/2017 at 0:58 AM, kiniyow said:

ok  Buy 2 Beer Bars

open a restaurant not many around Jomtien/Pattaya

[garbolino]

go you know how to use GOOGLE if so then google for your options

[manchega]

Very interested to see outcome of this.  3 mill is a lot.  you can buy a house in thailand ( assuming you could own it or land as farang).  the SET could get you the 6% you are after.  Perhaps put it on sing if you are worried about thai stability.

[GarryP]

On 2017-6-17 at 9:17 AM, garbolino said:

go you know how to use GOOGLE if so then google for your options

It is all well and good googling stuff, but if you have no experience, it is very easy to be mislead or misinformed. There is a lot of crap on google and I would be hesitant to do something purely on the basis of what I have read or been told. If I can support what I have read with the input of someone with hands on experience , or vice versa, I believe there is a better chance of getting the desired results.  Thus, questions are posted on  forums.  Wouldn't be much need for them otherwise, would there? 

[Rc2702]

I think the 3 million is not a game changer for the OP and he is just looking to make better use. If you are unsure of the financial markets why not invest in things you know about. Cars or houses or reposessed land in thailand. OP has an heir that is thai so owning land under some form of trust for kid could be worthwhile in the long run.

 

 

[simon43]

I work in Myanmar and, as a foreigner, am not allowed to invest in bank savings accounts or the new stock market.

 

So what can I do with my hard-earned salary?

 

I opened a trading account with KT-ZMICO in Bangkok.  This is  a well-respected and low-cost brokerage service, part of KTB bank.  There was no minimum opening balance and the trading fees are very low.  I can invest in Thai ETFs, which are a reasonably safe long-term investment, with modest gains.

 

I hand-carry USD every few months from Myanmar to Bangkok, drop it into my Bangkok Bank account and then go online to transfer sums at my leisure to KT-ZMICO, and to buy and sell - I don't actually sell, long-term investment - ETFs at my leisure.

 

It works for me.

[MJKT2014]

On 2017-6-16 at 1:05 PM, bbi1 said:

Bitcoin tumbled 19% at its lows Thursday and has lost about $10 billion in market value since June 12:

Exactly my point. Money to be made with these big changes.

[manchega]

There are a few educated ones on this forum who have always championed bonds, every time I look I see -ve rates on these things.

[Pinot]

On 6/15/2017 at 8:58 PM, Orac said:

 

Though good advice, the one thing I would be wary of is the US brokerage account for non US citizens since, in the event of death, they could become liable to estate tax if over 60,000 dollars and funds could be tied up for a considerable time after a death before IRS will authorise release. Better options may be available elsewhere such as Saxo, Singapore or TD Direct/Internaxx , Luxembourg.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

 

 

Wrong, not a US citizen. Exempt from any of this.

 

On 6/15/2017 at 9:43 PM, MJKT2014 said:

Why? Market is up or down 25% on any given day.

 

Market may be down .025 on a very volatile day...not 25%

 

 

On 6/15/2017 at 9:57 PM, timendres said:

If you live in Bangkok, or can easily arrange to meet in Bangkok, please PM me.

I have an opportunity for putting this money to work that I think you should consider.

 

No. 

 

 

On 6/16/2017 at 4:19 AM, Freespirit said:

Genuine offer, message, me if your interested.

 

No.

 

 

On 6/18/2017 at 6:07 AM, simon43 said:

I work in Myanmar and, as a foreigner, am not allowed to invest in bank savings accounts or the new stock market.

 

So what can I do with my hard-earned salary?

 

I opened a trading account with KT-ZMICO in Bangkok.  This is  a well-respected and low-cost brokerage service, part of KTB bank.  There was no minimum opening balance and the trading fees are very low.  I can invest in Thai ETFs, which are a reasonably safe long-term investment, with modest gains.

 

I hand-carry USD every few months from Myanmar to Bangkok, drop it into my Bangkok Bank account and then go online to transfer sums at my leisure to KT-ZMICO, and to buy and sell - I don't actually sell, long-term investment - ETFs at my leisure.

 

It works for me.

KT-Zimco is a Thai brokerage house. Only have good things to say about them. 

[Orac]

9 minutes ago, Pinot said:

 

Wrong, not a US citizen. Exempt from any of this.

 

Non US citizens are liable to estate tax on US shares over the value of $60k and it can take a year or so for IRS to allow funds to be repatriated. I know E*Trade definetely apply this but not sure on Charles Schwartz Intl accounts though would assume so.

 

 

 

"Executors for nonresidents must file an estate tax return, Form 706NA, United States Estate (and Generation-Skipping) Tax Return, Estate of a nonresident not a citizen of the United States, if the fair market value at death of the decedent's U.S.-situated assets exceeds $60,000. However, if the decedent made substantial lifetime gifts of U.S. property, and used the applicable $13,000 “unified credit exemption” amount to eliminate or reduce any gift tax on the lifetime gifts, a U.S. estate tax return may still be required even if the value of the decedent’s U.S. situated assets is less than $60,000 at the date of death (due to the decrease in the “unified credit exemption” for the lifetime gifts). See Unified Credit (Applicable Credit Amount) Section in Publication 559, Survivors, Executors, and Administrators, and the Form 706NA Instructions for more information."

 

https://www.irs.gov/individuals/international-taxpayers/some-nonresidents-with-u-s-assets-must-file-estate-tax-returns

 

 

 

[JayBird]

I never cared for the website for KT-Zimco.  Can't even see which exchanges they deal with (or is it Thailand only?).

 

Also, their commissions seem to be high (0.20% or so?).   So, a 1M THB purchase would be 2000 THB in commissions (or roughly 60$ USD).  About 10x the price of most other online brokers.

 

And of course there's a 7% tax.

 

Unless I'm missing something?  I would still recommend a non-Thai based (international) brokerage firm.

[johnefallis]

As an American, my several Thai bank accounts were closed by the institution because I did not have the proper visa and they did not want to be subject to U.S banking laws.

[chaz2]

Quote

On 6/20/2017 Orac said:

"Executors for nonresidents must file an estate tax return, Form 706NA, United States Estate (and Generation-Skipping) Tax Return, Estate of a nonresident not a citizen of the United States, if the fair market value at death of the decedent's U.S.-situated assets exceeds $60,000. However, if the decedent made substantial lifetime gifts of U.S. property, and used the applicable $13,000 “unified credit exemption” amount to eliminate or reduce any gift tax on the lifetime gifts, a U.S. estate tax return may still be required even if the value of the decedent’s U.S. situated assets is less than $60,000 at the date of death (due to the decrease in the “unified credit exemption” for the lifetime gifts). See Unified Credit (Applicable Credit Amount) Section in Publication 559, Survivors, Executors, and Administrators, and the Form 706NA Instructions for more information."

 

https://www.irs.gov/individuals/international-taxpayers/some-nonresidents-with-u-s-assets-must-file-estate-tax-returns

Quote

 

 

I do not completely understand this.  What I read seems to indicate that Form 706-NA pertains to estate tax liability for excess of $60,000 for “Estate of nonresident not a citizen of the United States”.  In other words, the nonresident decedent would not be a USA citizen.

 

I believe most of us are interested in estate tax liability when the decedent is a USA citizen but the surviving nonresident spouse is not a USA citizen.  Reading Publication 559 Survivors, Executors, and Administrators, does not clear this up for me.  As it does not seem to cover USA citizens property being passed down to a nonresident alien spouse.  What am I missing..?

 

 

[Orac]

On 6/20/2017 Orac said:
"Executors for nonresidents must file an estate tax return, Form 706NA, United States Estate (and Generation-Skipping) Tax Return, Estate of a nonresident not a citizen of the United States, if the fair market value at death of the decedent's U.S.-situated assets exceeds $60,000. However, if the decedent made substantial lifetime gifts of U.S. property, and used the applicable $13,000 “unified credit exemption” amount to eliminate or reduce any gift tax on the lifetime gifts, a U.S. estate tax return may still be required even if the value of the decedent’s U.S. situated assets is less than $60,000 at the date of death (due to the decrease in the “unified credit exemption” for the lifetime gifts). See Unified Credit (Applicable Credit Amount) Section in Publication 559, Survivors, Executors, and Administrators, and the Form 706NA Instructions for more information."
 
https://www.irs.gov/individuals/international-taxpayers/some-nonresidents-with-u-s-assets-must-file-estate-tax-returns

 

 
I do not completely understand this.  What I read seems to indicate that Form 706-NA pertains to estate tax liability for excess of $60,000 for “Estate of nonresident not a citizen of the United States”.  In other words, the nonresident decedent would not be a USA citizen.
 
I believe most of us are interested in estate tax liability when the decedent is a USA citizen but the surviving nonresident spouse is not a USA citizen.  Reading Publication 559 Survivors, Executors, and Administrators, does not clear this up for me.  As it does not seem to cover USA citizens property being passed down to a nonresident alien spouse.  What am I missing..?
 

 


Not sure on that as this is specific to the death of someone who is not a US citizen or resident and is pertinent to funds held in US accounts at time of death where estate taxes are liable on amounts over $60k. I assume for US citizens the normal exemption applies which is $5.49m I believe.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

[speedtripler]

On 16/06/2017 at 11:12 AM, steven100 said:

too late for that .... 

Nope... Not even close

 

[A1Str8]

Forex. Worked for me. 

[speedtripler]

10 minutes ago, A1Str8 said:

Forex. Worked for me. 

You probably at least know what your doing, 

Most people would lose if you dropped 

Them into a forex market with no experience 

 

Bitcoin and ethereum is doing the best from all my investments, best things I ever bought and before someone says I could lose that's impossible because I took out my initial investment many times over already.... 

[Rc2702]

4 minutes ago, speedtripler said:

You probably at least know what your doing, 

Most people would lose if you dropped 

Them into a forex market with no experience 

 

Bitcoin and ethereum is doing the best from all my investments, best things I ever bought and before someone says I could lose that's impossible because I took out my initial investment many times over already.... 

Nah dunno sounds risky

[speedtripler]

1 hour ago, Rc2702 said:

Nah dunno sounds risky

Let me know if you find some zero risk investments lol