FOREWORD
ACKNOWLEDGEMENTS

PART A: GETTING READY TO INVEST

1 INTRODUCTION

1.1 Background
1.2 Terminology
1.3 Structure of the book
1.4 Thailand fast facts
1.5 Legal disclaimer

2 YOUR THAILAND INVESTMENT IN CONTEXT

2.1 Investor mindset
2.2 Your financial 'big picture'
2.3 Risk
2.4 Diversification and asset allocation
2.5 Opportunity costs
2.6 Getting professional help

3 SOME PRELIMINARY STEPS

3.1 Creating your workspace
3.2 Choosing a bank
3.3 Bringing money to Thailand

3.3.1 Your initial budget
3.3.2 Alternative methods to transfer funds

3.4 Visas and work permits

3.4.1 Obtaining a work permit
3.4.2 Special entry programmes

3.5 Marriage and estate planning

3.5.1 Wills
3.5.2 Prenuptial agreements

3.6 Taxation in Thailand

4 GATHERING INFORMATION

4.1 Information in Thailand

4.1.1 Language differences
4.1.2 Cultural issues
4.1.3 Education and financial literacy
4.1.4 Financial constraints
4.1.5 Other factors

4.2 Available information sources

4.2.1 Online discussion forums and blogs
4.2.2 Newspapers and magazines

4.3 Some tips about getting information

5 THE THAI ECONOMY

5.1 Overview
5.2 Exports and imports
5.3 Currency
5.4 Interest rates and inflation
5.5 Consumer and business confidence
5.6 Foreign investment in the Thai capital market

THAILAND'S CAPITAL MARKET, 2008-2011

PART B: YOUR INVESTMENT OPTIONS

6 INVESTING IN THAI REAL ESTATE

6.1 Nature of the investment
6.2 Regulatory issues

6.2.1 Background
6.2.2 Buying a condo
6.2.3 Tax issues and property investment

6.3 Navigating the restrictions on land ownership

6.3.1 Buy through a Thai company
6.3.2 Purchase land leasehold
6.3.3 Thai spouse buys land/leases to foreigner
6.3.4 Thai spouse buys land/foreigner as mortgagee
6.3.5 Thai spouse buys land/foreigner owns the structure upon it
6.3.6 Thai spouse buys land/foreigner holds either a usufruct or a right of habitation
6.3.7 Buying property in the name of a child
6.3.8 Some problematic scenarios

6.4 Other issues related to property investment
6.5 Further information

7 INVESTING IN A THAI BUSINESS

7.1 Nature of the investment
7.2 The regulatory framework

7.2.1 The private limited company
7.2.2 The contentious issue of 'nominees'
7.2.3 Foreign business licenses
7.2.4 Thai Board of Investment

7.3 Establishing and operating your business

7.3.1 To buy or to create?
7.3.2 Issues specific to your country of origin
7.3.3 Operational issues

7.4 Business and Thai culture
7.5 Thailand in context
7.6 Further information

8 INVESTING IN THAI GOLD

8.1 Nature of the investment
8.2 Trends in investment
8.3 Regulatory issues
8.4 Silver
8.5 Further information

9 INVESTING IN THAI EQUITIES

9.1 Nature of the investment
9.2 About the Stock Exchange of Thailand
9.3 Historical performance of the SET
9.4 Trends in investment
9.5 Trading on the SET
9.6 Regulatory issues

9.6.1 Non-voting depository receipts
9.6.2 Share price manipulation

9.7 Further information

INVESTOR VIEWPOINT: DR. MARC FABER, MARC FABER LIMITED

10 INVESTING IN MANAGED FUNDS

10.1 Nature of the investment
10.2 Types of managed funds
10.3 Managed funds vs. direct share portfolio

10.3.1 Return on investment
10.3.2 Fees and charges
10.3.3 Tax issues
10.3.4 Convenience
10.3.5 Dividend reinvestment
10.3.6 Speed of market entry and exit

10.4 Managed funds that can be traded on the SET

10.4.1 Property funds
10.4.2 Exchange-traded funds

10.5 Long-term equity funds and retirement mutual funds
10.6 Managed funds available outside of Thailand
10.7 Further information

11 INVESTING IN THAI DEBT

11.1 Nature of the investment
11.2 Bonds and debentures

11.2.1 What are they?
11.2.2 Understanding the terminology
11.2.3 How do they work?
11.2.4 Trends in Thai debt investment

11.3 Other forms of debt-related investments

11.3.1 Bank accounts
11.3.2 Private money lending
11.3.3 Fixed-income funds

11.4 Further information

PART C: FINALISING AND IMPLEMENTING YOUR INVESTMENT STRATEGY

12 THAILAND: COMPARATIVE POSITION, INFLUENCES, AND OUTLOOK

12.1 International comparisons

12.1.1 World Economic Forum survey
12.1.2 World Bank survey
12.1.3 Grant Thornton "International Business Report"
12.1.4 Heritage Foundation survey
12.1.5 Michigan State University survey
12.1.6 IMD "World Competitiveness Yearbook"
12.1.7 Forbes "Best Countries for Business List"
12.1.8 Euromoney Country Risk Index
12.1.9 Further sources

12.2 Current influences

12.2.1 Education
12.2.2 Leadership and politics
12.2.3 Crime and corruption
12.2.4 Other aspects of Thai society

12.3 Future outlook

12.3.1 Social disadvantage and government support
12.3.2 Commitment to a long-term plan
12.3.3 Further sources concerning Thailand's future outlook

13 IMPLEMENTING AND MONITORING YOUR INVESTMENT STRATEGY

13.1 Determining your strategy
13.2 Selecting a stock broker and/or fund manager

13.2.1 Stockbrokers
13.2.2 Fund managers

13.3 Entering the market
13.4 Managing your portfolio

13.4.1 Establishing and maintaining a routine
13.4.2 Keeping adequate records
13.4.3 Reassessing your strategy

13.5 Exiting the market
13.6 A few suggestions

13.6.1 Don't be an impulse buyer
13.6.2 Don't pretend to be Gordon Gecko
13.6.3 Always keep funds in reserve
13.6.4 Don't chase the market down
13.6.5 Best and worst times to buy

13.7 Further information

13.7.1 Listing of Thai stock brokers
13.7.2 Listing of Thai fund managers

SUGGESTED DAILY SHARE TRADING ROUTINE

14 CONCLUSION

14.1 A final word on investors
14.2 A final word on investments
14.3 A final word on Thailand

KEY INVESTMENT RESOURCES

INDEX

LIST OF FIGURES

1.1 Map of Thailand
2.1 Asset allocation for investors with different risk profiles
2.2 Asset allocation for a "balanced" investor
5.1 Value of Thailand's exports, 2002-2012
5.2 Value of Thailand's imports, 2002-2012
5.3 Thailand's balance of trade, 2002-2012
5.4 Value of the U.S. dollar against the Thai baht, 2007-2012
5.5 Value of the Australian dollar against the Thai baht, 2007-2012
5.6 Interest rates in Thailand, 2002-2012
5.7 Inflation in Thailand, 2002-2012
5.8 Thailand's Consumer Confidence Index, 2002-2012
5.9 Foreign investment in Thailand, 2004-2009
5.10 Foreign portfolio investment in Thailand, 2004-2009
6.1 Characteristics of investment in Thai real estate
7.1 Characteristics of investment in a Thai business
7.2 Thailand's ranking in the World Bank's "Doing Business" survey
8.1 Characteristics of investment in Thai gold
8.2 Variation in Thai gold price, 2007-2012
8.3 Price of gold bullion on the London market, 1975-2012
9.1 Characteristics of investment in Thai equities
9.2 Value of the Stock Exchange of Thailand, 1987-2012
9.3 Value of the Stock Exchange of Thailand, 2009-2012
9.4 Performance comparison of the SET vs. other stock indexes, 2007-2012
9.5 Performance comparison of the SET vs. other countries, 2010-2011
9.6 Foreign investment in Thai securities, 2005-2009
10.1 Characteristics of investment in Thai managed funds
10.2 Foreign investment in Thai mutual funds, 2003-2008
10.3 Performance comparison of the SET vs. Thai equity mutual funds, 2005-2011
10.4 Fees in relation to several Thai equity funds, 2012
10.5 Top five Thai property funds, 2010-2011
10.6 Key Issues regarding long-term equity funds and retirement mutual funds
11.1 Characteristics of investment in Thai bonds
11.2 Changes in yield for Thai government bonds, 2008-2011
11.3 Taxation on bond returns for individuals
11.4 Foreign investment in Thai debt securities, 2005-2009
11.5 Comparative performance of six types of Thai mutual funds, 2009-2011
12.1 Six most problematic factors when doing business in Thailand, 2010-2011
12.2 Thailand's ranking in "World Trade Indicators 2009/2010" report
12.3 Benchmarks of economic freedom worldwide, 2010
12.4 The World Bank WGI survey results, 2007-2010
12.5 Prevalence of corruption, 2010-2011
13.1 Devolution of an investment strategy
14.1 Performance of Thai asset classes, 2010-2011