Many expats do have to show money in the bank for reneweal of their oneyear visas. The amount of either 400k or 800k, Thaimarried or not, is a complete waste of money with the interestrates today.
So I was thinking (!!!), why not open a cashbalance account with a stockbroker and use the money to buy high dividendyelding stocks. It is not very difficult to find stocks with dividends of 7-8%, talking bluechips here. You can find stocks with much higher dividends, but they might not be around next year. Tax on the dividends are 10%.
To open an account is not that complicated, a little paperwork and you need to invest 1M baht.
You buy local stocks on the internet and to be entitled to dividend you need to change them to F-(foreign) stocks. A word to your broker and he will do it for you in 2 days for the cost of 20!!!baht. You can do that in almost all companies on SET, except for 10-12 companies, where the F-quota is full, those are on the other hand traded in reasonable volumes every tradingsession.
So instead of letting your money sleep, why not try to make them create an income for you. And if you are in for the long haul, normally the price on your stocks will increase over time. Commission by the way is 0.15% each way.
So IMO a win win.
But, what does immigration say ? Do they accept a tradingaccount or does it have to be a savings ?
I know we have quite a few visa-wizards on the forum, your thoughts ?
thaiorchid
SET-trade account for immigration ?
-
thaiorchid
- Banned
- Posts: 63
- Joined: Mon May 18, 2009 7:26 pm
I got the (Thai) GF started on trading the U.S. markets.
We both use TD Ameritrade but will be switching to Interactive Brokers soon.
TDA said they would charge the GF a 30% “Foreign Investor” (or something like that) tax, but to date they have not taken any money out for this.
I pay a 20% Capital gains tax when I do my yearly tax return (THANK YOU Uncle Sam!).
So far she has made a profit of 110,000 baht from an initial investment of 170,000 baht (in 6 months).
Our next project is Forex.
But BEWARE, trading any market is very risky and to be good at it will involve much more effort than throwing a dart at a wall full of balloons.
I have heard many times that 95% of traders will fail, and the ones that are succeeding have usually lost all of their money…twice.
There are website out there that will tell you all about dividend payments.
The one I use is www.Dividend.com (for U.S. markets).
Good luck!
We both use TD Ameritrade but will be switching to Interactive Brokers soon.
TDA said they would charge the GF a 30% “Foreign Investor” (or something like that) tax, but to date they have not taken any money out for this.
I pay a 20% Capital gains tax when I do my yearly tax return (THANK YOU Uncle Sam!).
So far she has made a profit of 110,000 baht from an initial investment of 170,000 baht (in 6 months).
Our next project is Forex.
But BEWARE, trading any market is very risky and to be good at it will involve much more effort than throwing a dart at a wall full of balloons.
I have heard many times that 95% of traders will fail, and the ones that are succeeding have usually lost all of their money…twice.
There are website out there that will tell you all about dividend payments.
The one I use is www.Dividend.com (for U.S. markets).
Good luck!
When Chuck Norris does a push up, he isn't pushing himself up, he is pushing the earth down.
Re: SET-trade account for immigration ?
They only accept a savings a/c.thaiorchid wrote: But, what does immigration say ? Do they accept a tradingaccount or does it have to be a savings ?
thaiorchid
You need to be sure that the stocks you invest in for this purpose are highly liquid otherwise you can lose on the spread.
Property funds are good as the share prices are stable and the yield is high. CPNRF is one the most liquid and gives a yield of 9.68%.
You've always got the option of overseas income - 40k a month for a marriage extension, 65k for retirement. There's no need for that to be in a Thai bank account. The 400/800k lump sum does have to be though.
It depends on your Embassy and what they want to see as proof of income for them to issue an income verification letter.
For instance, The Brit one wants to see paperwork. The US one just needs you to write your income in - on the basis that if you lie you're committing a federal offence.
thaiorchid,
That 400/800k has to be in a Thai account for 3 months - and not fall one satang below that figure - before you apply.
You seem to be talking about income, not savings. Can you clarify?
It depends on your Embassy and what they want to see as proof of income for them to issue an income verification letter.
For instance, The Brit one wants to see paperwork. The US one just needs you to write your income in - on the basis that if you lie you're committing a federal offence.
thaiorchid,
That 400/800k has to be in a Thai account for 3 months - and not fall one satang below that figure - before you apply.
You seem to be talking about income, not savings. Can you clarify?
set trade account for immigration
thaiorchid, it's a good idea to let your bahts grow with an investment, however, for immigration purposes, you'll need a savings account.
Just let it be invested until three months before your due with your visa. By the way I am investing with Tanachart from my home for years already.
Just let it be invested until three months before your due with your visa. By the way I am investing with Tanachart from my home for years already.
-
thaiorchid
- Banned
- Posts: 63
- Joined: Mon May 18, 2009 7:26 pm
Poe.
I agree with you that you have to be careful, with which stocks you chose to invest your money in. But I am suggesting heavy "boring" companies, that will give you a good return on dividendyields.
But you are right about any trading is risky, my portfolio is partly bluechips, companies I am in for years and partly "casinostocks", where I daytrade. If I go back one year my boring dividendyielding stocks are doing far better than my quickfix stocks.
yabz.
CPNRF is a perfect example of the kind of stocks, I was thinking of.
Low risk, good dividends over a long period of time, quarterly payments.
If we play with the 800k requirement. Today that amount would have bought you approx 89.000 CPNRF and with an average dividend over the last year of 0.22115 per quarter/share=19.660 bath every 3 months instead of the peanuts your bank is offering you.
But you say immigration only accepts savings accounts, you have actually checked it ?
lomuamart.
I am not talking about myself. I am here on a SE-visa and do not have to show money.
Merely thinking about all the 400/800k accounts all over the kingdom, where the money is just losing value. Why not put them to work?
I am aware of the 3 months before rule with immigration, but it must be possible to prove that the marketvalue of your portfolio has stayed above the magic number 3 months and running until your application. You either print your portfolio every day at closing and/or have your broker confirm it. I understand you have to work with a certain margin, so you do not risk your visa, because your stocks are heading south.
My question is, are there any specifics for what kind of account the money has to be kept in to comply with immigration ?
thaiorchid
I agree with you that you have to be careful, with which stocks you chose to invest your money in. But I am suggesting heavy "boring" companies, that will give you a good return on dividendyields.
But you are right about any trading is risky, my portfolio is partly bluechips, companies I am in for years and partly "casinostocks", where I daytrade. If I go back one year my boring dividendyielding stocks are doing far better than my quickfix stocks.
yabz.
CPNRF is a perfect example of the kind of stocks, I was thinking of.
Low risk, good dividends over a long period of time, quarterly payments.
If we play with the 800k requirement. Today that amount would have bought you approx 89.000 CPNRF and with an average dividend over the last year of 0.22115 per quarter/share=19.660 bath every 3 months instead of the peanuts your bank is offering you.
But you say immigration only accepts savings accounts, you have actually checked it ?
lomuamart.
I am not talking about myself. I am here on a SE-visa and do not have to show money.
Merely thinking about all the 400/800k accounts all over the kingdom, where the money is just losing value. Why not put them to work?
I am aware of the 3 months before rule with immigration, but it must be possible to prove that the marketvalue of your portfolio has stayed above the magic number 3 months and running until your application. You either print your portfolio every day at closing and/or have your broker confirm it. I understand you have to work with a certain margin, so you do not risk your visa, because your stocks are heading south.
My question is, are there any specifics for what kind of account the money has to be kept in to comply with immigration ?
thaiorchid