It’s common for people to think that you have to have lots of excess money in order to invest. While it’s true that it’s easier to invest if you have plenty of money sleeping in the bank, it definitely is not impossible to start investing even if you are living on an average income. And while Thailand is not necessarily an economic superpower, the currency has been performing very well in recent years, plus people like investing in this country because of the charms of its culture and its people.
Here are some tips that you will find useful if you are looking to make an investment in Thailand.
Why invest in the first place?
Isn’t it enough to have savings? Do you really have to invest? Well, if you do have savings, that’s very good. But if you want your money to work for you and not the other way around, you will have to start investing. It all depends on what your priorities are and what you want to happen with your finances. If you want to secure your future further and make more money, investing opens a lot of opportunities for that.
Start investing on an average income
The key to investing money is starting as early as you can. Most people are able to earn a monthly income of around 15-20,000 Baht. Even if you are an office worker or working as a fresh graduate, chances are you are already able to earn this much. You just have to know how to manage your money in such a way that you will be able to allocate your money properly. Remember that the amount that you save is not the same money that you will use to invest. Your investment money should be a certain percentage of your income that you do not use for anything else and that you can afford to lose, should things go downhill.
Foreigner investing in Thailand
But if you are a foreigner and you want to invest in Thailand, it’s not as simple as that. Foreigners are not allowed by Thai law to own any land in Thailand. But there are still ways to invest in the country despite this restriction. First, you can get a long-term lease on any property of your choosing that’s available on the market. You can then use these properties for either personal transactions or commercial ones. But if you want to grow the money that you invested, best use these for commercial purposes. Certain legalities need to be undertaken here, so make sure that you have the proper professional help you need. Second, you can also buy Thai stocks. In this option, you will need a brokerage account, for which most Thai banks can help you. Of course, you have to make sure that you understand the playing field very well, or else you can hire a broker who can take care of your investments for you.
