Anyone in Thailand?

Downtown rent on a luxury apartment can cost between THB 80,000-120,000 per month
Hiring a full time driver is about 15,000 per month salary plus about 18,000 to rent a Toyota long-term

I stay at On Nut, last stop on the BTS (but due to be extended out to BangNa soon)
20 baht by bike taxi to station then 15 minutes by BTS into Nana area

We have a 2 bedroom townhouse in a very quiet village, gated community, just off the main road. easy access to carrefour & Tesco. International schools nearby. and important for me, easy access to airport.
we pay THB 11,000 Rent per month.
Electric is about 2,300 pm.
water 200,
cable TV 2000,
internet 1500

our small runaround motorbikes cost about 50,000 each, new.

gas is about 24 baht per litre

The single most expensive purchase you might make in your first months would be a car. because of punitive import duties and engine size-based taxation, cars here are very expensive
locally manufactured cars are cheaper: toyota Fortuner 4x4 is about 1.4million, same as the new Nissan Teana 2.5
But if you want say a BMW or Merc, expect to start around 4-5 million

Thai language lessons at christian missionary school (4 hours a day, 5 days a week) is 8,000 baht per month.

Food is cheap if you can eat off the street vendors. you can stay full and satisfied for less than 100 baht per day.

But you'll cry if you like wine - it's taxed as hard as cars. Cheap ozzie plonk or french vin de table is about 600 baht per bottle. Good quality drinkable stuff is 1,000 + (shop price, not restaurant price)
with decent stuff like Penfolds Bin 389 at 5000 baht per bottle.

Johnny Black whiskey in a shop is about 800 baht, in a club about 1800

If BKK is too expensive for you, consider Pattaya - rent is cheaper but you'll end up spending more on the inevitable 'socialising"
 
I have been working here for 10 years, I run a company here. I know employment/visa/labour laws pretty well.

It is up to the Thai authorities to decide if you are working or not. If you tell them that you are making a living, trading any type of instrument then they will certainly class you as working - which is illegal without a work permit.

Your question is irrelevant, the instrument type is not relvant to whether you are breaking the law or not. Working without a work permit is illegal and you will NOT get a work permit for trading from here.

If you are Thai, your question becomes relvant but different laws about offshore investing/fund holdings come in to play for them which again makes the CFD point moot.

Why are you actually worried about this ? Just get your retirement/spouse/tourist visa, trade & keep your mouth shut about it !


Pedro or any other out there who may know:

I am interested in setting up my Thai wife for investing. Does anyone here know the Thai tax laws that would apply to her and how she could trade US equities or futures? How would one set this up? I am exploring the different tax benefits for Thai vice American profits in the markets. Thanks.

ez
 
Pedro or any other out there who may know:

I am interested in setting up my Thai wife for investing. Does anyone here know the Thai tax laws that would apply to her and how she could trade US equities or futures? How would one set this up? I am exploring the different tax benefits for Thai vice American profits in the markets. Thanks.

ez

OK then - you'll need to answer a few Q's

1 - which country are you from ? Mostly US/Non-US is a deciding factor...
2 - what is your wife's trading experience ?
3 - if none - what is your wife's educational background ? Can she actually trade or is it you trading in her name ?

In the main - Thai citizens are not allowed to have offshore bank accounts, it is illegal under Thai law. If you are a US citizen, you get taxed on your worldwide income but I am sure you know that.

It's not 100% clear what you are looking for from your post.
 
OK then - you'll need to answer a few Q's

1 - which country are you from ? Mostly US/Non-US is a deciding factor...
2 - what is your wife's trading experience ?
3 - if none - what is your wife's educational background ? Can she actually trade or is it you trading in her name ?

In the main - Thai citizens are not allowed to have offshore bank accounts, it is illegal under Thai law. If you are a US citizen, you get taxed on your worldwide income but I am sure you know that.

It's not 100% clear what you are looking for from your post.

I am from the US and am trying to decide if I can reduce my capital gains taxes if I do not trade but my wife does trade. My wife's trading experience is basically fairly poor at this point, but I am trying to determine if that makes a difference. I can honestly say that someone telling me what buttons to push and when would still result in the US asking me to pay taxes on any gains (I am sure that they would not accept an answer that they would have to collect from another person who told me what to do). By that logic, advice is basically not taxable but earnings are definitely taxable. If my wife were able to trade and make the same gains that I would have made, would that reduce my taxes? Sounds like a simple question, but is probably much more difficult to execute.

Thanks
ez
 
I am from the US and am trying to decide if I can reduce my capital gains taxes if I do not trade but my wife does trade. My wife's trading experience is basically fairly poor at this point, but I am trying to determine if that makes a difference. I can honestly say that someone telling me what buttons to push and when would still result in the US asking me to pay taxes on any gains (I am sure that they would not accept an answer that they would have to collect from another person who told me what to do). By that logic, advice is basically not taxable but earnings are definitely taxable. If my wife were able to trade and make the same gains that I would have made, would that reduce my taxes? Sounds like a simple question, but is probably much more difficult to execute.

Thanks
ez

OK - if you have never seen your wife in a casino, I would take her to one immediately, then you can adjust your plan as necessary.

After seeing a Thai woman in a casino, your plan will be to trade an account in her name. 99.99% chance that no-one will ever know.

The account will not be subject to capital gains and there's some forms you need to fill in to 'evade' that.

First step - go to global futures or someone like that & see if they let her open an account. You'll need to tell them if the trading account will be funded from an account in her name or not - I have only ever done the former.

Next step - see if you can convince a Thai bank to transfer funds from her Thai bank account to the trading account. You need to discuss this with a friendly face at the bank because of the restrictions on Thais and offshore bank accounts. If it moves from an account in your name, then what you are doing is going to be fairly transparent.

There's tax avoidance and tax evasion, what you are doing is the latter. Chances are that if you do get to open an account in her name and transfer money into the account that you won't be hit with tax and that you won't get caught.

It's your risk basically.
 
so Pete, what you're saying is that the only on-going costs he'll incur will be our regular "tea-money" to keep shtumm ? :)
 
There's tax avoidance and tax evasion, what you are doing is the latter. Chances are that if you do get to open an account in her name and transfer money into the account that you won't be hit with tax and that you won't get caught.

It's your risk basically.

Pedro, thanks for the assistance. I would like to make it clear that I am trying to determine who should be the bread winner in the family. My wife owns a rubber tree plantation and has interest in several businesses in Thailand (one of them is even registered). Any trading by her will be done with her money. I will be neither avoiding nor evading taxes since I will have no income. She will just keep me around for my good looks.
 
Pedro, thanks for the assistance. I would like to make it clear that I am trying to determine who should be the bread winner in the family. My wife owns a rubber tree plantation and has interest in several businesses in Thailand (one of them is even registered). Any trading by her will be done with her money. I will be neither avoiding nor evading taxes since I will have no income. She will just keep me around for my good looks.

Aaaah - hansum man....

I think you have already determined who is the breadwinner in your family ! I presume she wears the trousers too :LOL:

If she has several businesses - why get her into trading ?

Anyway - of COURSE she'll be using her money. We know that :whistling. The first question is - will a US broker let her open an account ? Probably.

Will her bank allow her to send her earnings offshore ? Possibly not.
 
so Pete, what you're saying is that the only on-going costs he'll incur will be our regular "tea-money" to keep shtumm ? :)

Absolutely. All funds gratefully accepted - under the table of course.

Seems our man is trying to be bent & straight at the same time. Something that even Yuri Geller failed to do...

Actually - I knew a girl who had a rubber plantation - well, there were 3000 used condoms in her back garden - I think that counts !
 
Absolutely. All funds gratefully accepted - under the table of course.

Tea money? Is that taxable? Rather than tea money, I would have been willing to assist you with your multiple monitor issue. How's the USB solution working?
 
Tea money? Is that taxable? Rather than tea money, I would have been willing to assist you with your multiple monitor issue. How's the USB solution working?

Works a treat, thanks !

Although the children at Thai Visa don't like it because I didn't hack it together with a screwdriver & some masking tape and I probably can't play Teletubbies games on it ! :D
 
ah, Thai Visa

I picture Bill Oddie, Graham Garden and Tim Brooke-Taylor whenever i think of those guys.

But I think of English speaking Rab C Nesbitts whenever I picture Phuket-info.com guys :)
 
Just stumbled on this thread.
It's nice to see so many people that can manage to live in Thailand and trade.
I live in a village near Khon Kaen and suffered the terrible Ipstar service for internet. Now I'm with CAT CDMA EV-DO Rev A. It's not great, but at least I get a good enough connection to trade.
I love the MT4 platform as it seems that the data is downloaded to my computer and then updated. With other platforms I have to download all the data afresh when I want to open a chart.
I only have MT4 platforms as demo accounts at the moment and trade with CMC.
I would like to open a new account and would like to hear about other Brits that have managed to open an account while living in Thailand.
I have a UK address and bank accounts and my preferred platform is Alpari at the moment.

Thanks Guys (and girls?)
 
Hi Gum...

I should think it's straight forward to open a spreadbet account from thailand, just call up and say you're in UK, or if you mention you're abroad currently, just say you're Resident in UK, that should be good enough for them(if Uk adress/bank account). I wouldn't worry about it!

I have no idea of whether True is avaulable in your area, however if it is, then call and see if you can get the Business connection, slightly more expensive (maybe 2000 if I remember), but I believe that will give you a Much better connection, as many less users on each line (lower contention ratio). However in my experience, trading FX during Thai daytime is ok, it's trading faster moving US Equities during Thai evening time (peak traffic on residential lines) that causes huge problems.

Why not go for a 'proper broker' (if there is such a thing!?), where you are much less likely to experience the 'issues' we all hear about? I used Tradestation (clearing through Gain), and never and any major problems, and you can use mini lots ($1 per point) if you wanna trade small - then again, if you're swing trading you will have less problems with SB platforms.

let us know how you get on- I guess the acocunt should be easy, interesting to know if you can get a Proper connection out there.

happy trading!(y)

Seymour...






Just stumbled on this thread.
It's nice to see so many people that can manage to live in Thailand and trade.
I live in a village near Khon Kaen and suffered the terrible Ipstar service for internet. Now I'm with CAT CDMA EV-DO Rev A. It's not great, but at least I get a good enough connection to trade.
I love the MT4 platform as it seems that the data is downloaded to my computer and then updated. With other platforms I have to download all the data afresh when I want to open a chart.
I only have MT4 platforms as demo accounts at the moment and trade with CMC.
I would like to open a new account and would like to hear about other Brits that have managed to open an account while living in Thailand.
I have a UK address and bank accounts and my preferred platform is Alpari at the moment.

Thanks Guys (and girls?)
 
Last edited:
Hi Gum...

I should think it's straight forward to open a spreadbet account from thailand, just call up and say you're in UK, or if you mention you're abroad currently, just say you're Resident in UK, that should be good enough for them(if Uk adress/bank account). I wouldn't worry about it!

I have no idea of whether True is avaulable in your area, however if it is, then call and see if you can get the Business connection, slightly more expensive (maybe 2000 if I remember), but I believe that will give you a Much better connection, as many less users on each line (lower contention ratio). However in my experience, trading FX during Thai daytime is ok, it's trading faster moving US Equities during Thai evening time (peak traffic on residential lines) that causes huge problems.

Why not go for a 'proper broker' (if there is such a thing!?), where you are much less likely to experience the 'issues' we all hear about? I used Tradestation (clearing through Gain), and never and any major problems, and you can use mini lots ($1 per point) if you wanna trade small - then again, if you're swing trading you will have less problems with SB platforms.

let us know how you get on- I guess the acocunt should be easy, interesting to know if you can get a Proper connection out there.

happy trading!(y)

Seymour...

Thanks for the reply Seymour.
Whenever I have tried to open a new account, they ALWAYS want a telephone number. They will not accept my tel No in Thailand. I do consider getting a proxy UK number with Skype, but most of the time my connection is not good enough to make/receive telephone calls.
Where I am staying, you can't even get a landline, so broadband internet via a landline is impossible.
I will probably be back in the UK for a visit in the spring, so will maybe try to open some new accounts then.
 
Hi all Trader

I will have a short trip in Bangkok.
Anyone Trader in BKK. Who at there?. We can meet, drink something and talking about trading. Please pm to me. Thnk for all.

Gday&Gtrade

dqcapital
 
I recently registered on this forum, recently has finished the courses on forex trading, and started trading. Advise what is a good forum in Thailand, which describes the different dealing centers?
Nice to meet you this everyone.
 
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