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Chiang Mai Expats Club learn about money

Chiang Mai Expats Club learn about money

The last meeting of Chiang Mai Expat Club (CEC) was addressed by Richard Colburn, financial advisor, of Montpelier Company. Richard spoke on what to expect in a financial advisor.

He gave a couple of good tips for handling our money - transfer your own currency to Thailand where it can be changed to baht do not change it to baht first. And secondly, in case of your demise some banks could freeze your bank account here in Thailand and impose taxes. So have no more money here in Thailand than is necessary and have a co-signer on your account, such as a son or daughter.

There was a stimulating Question and Answer session after his talk with varied subjects discussed such as control of account, fees, location of the company, and safety of investments.

The members present were reminded of the FERC gala which will take on February 18 at Ban Wongmalee. The next meeting of CEC on February 25 will have Mrs. Roshan of Lanna Dog Rescue as a guest speaker.