Dan SG

All, is dee money the only way of getting money out of transfer if you don't fall in very specific remittance categories followed by the banks? I over transferred about GBP15k to Thailand and want to transfer this back out. I have both a krungsri and bangkok bank account and both offer what seems like a straightforward swift remittance process online and fills me with a lot more confidence than dee, how what is everyone's experience? Will this likely get blocked if I submit? Also, i read that if they block a transfer they still keep the fees which, of course, is a total scam!

No just offering an alternative to what you seem to be presenting as a universal truth.....I agree big risk in thailand of no capital growth / depreciation but that doesn't necessarily apply across the board.

This is in thailand? Right after the big crash? You must have overpaid or just bought in a dud development. Lots of decent condos have gone up since 1999!

I agree - this is a risk - but not always the case. Age old maxim - depends what you buy / location, location, location

So it seems my hope of paying no more than 10k was wildly off. I've contacted a few firms and been quoted silly fees - anywhere between 75,000 to 125,000 baht just to handle matters on the day of transfer at the land office. If anyone knows anyone good - that is reasonable - do feel free to DM me otherwise I think I'll just take the trip to thailand and handle this myself!

I'll be purchasing a condo in Bangkok in the next couple of months. The exact date that the transfer happens is a bit fluid and I don't want to have to be tied down to come to BKK at short notice. I would prefer to just engage a lawyer who I give limited power of attorney to and handles everything for me on the day of exchange. I am funding some of the purchase with a mortgage from UOB so while I know its risky to give a lawyer a PoA its a very specific one that the bank approves and they are there on the day to also oversee that everything happens in the right way. I would come to thailand beforehand to draw the bankers cheques in the buys name and for the taxes. Can anyone recommend a good reliable lawyer who they've used before and can handle this for me. I am hoping to spend no more than THB10k for this. Thanks for all the help and comments like I am mad to use a lawyer not helpful (this is my second purchase and first time round i did everything myself but now living overseas that's just not as feasible). Thanks

Thanks, I think I've now sorted this with the bank and managed to persuade them to do away with this requirement

I got more details from the bank. It's a requirement under thai law apparently, that the spouse needs to consent. It probably only comes up during a mortgage otherwise most people will just put not married at the land office and they never check! I saw some discussion on it in the forum from last year.

Has anyone come across a requirement to obtain spousal consent to purchase a property in Thailand even if loan doc is in sole name and both parties aren't thai? I've gone through an application process with UOB Thailand / Singapore and once i've hit the documentation stage they have said they need my spouse to sign the loan agreement and also come to thailand for the transfer even though the loan isn't in her name (all I did was declare the marriage on the certificate). It's not too much of an issue but highly inconvenient for one reason or another. It seems a very odd requirement. Please could anyone else let me know if this is a common rule ?

Hi all, related question: if i am buying a condo using bank financing (70%) and remaining 30% using deposit, does the land office need to see a FET for the full 30% deposit coming from Foreign Currency from overseas? I have a few hundred thousand baht in my local account that i was hoping to use towards the deposit. Basically I am asking whether they want to see a FET showing to the nearest baht that everything has come from overseas? The remaining 70% will be coming from overseas through UOB Singapore.

Thank you....I didn't think of that option, this is very helpful.

Thanks all. Related question - do you do an interim return after 6 months? i've been doing that but I never have anything to pay at that point. Is it mandatory?

Thanks...i don't see any english instructions how to set up an account or if I have a tax id can i just file this without an account?

Thanks. I don't file as a resident; i file as someone who has income assessable to tax in thailand as its deemed sourced in thailand (rental of a property).

Hi all I file a tax return in Thailand for some rental income I earn. That's my only income liable to tax in Thailand (i'm not resident). A thai tax consultant does this for me twice a year and charges 3000 each time. It's a piece of p*ss. I give them the rental income, they take a flat deduction and there are about one or two boxes that need to complete. I can't read thai but know the boxes that need to be completed. A thai friend could help me with this anyway. My question is: how do i set up a thai tax account so I can file my returns due? Is it straightforward do you need to wait for PINs to arrive in the post etc. Paying my tax has either been through the consultant or directly using QR codes.

Millennium residence - unbeatable in terms of location and peace and tranquility......but the one beds don't have a balcony

Does anyone have any experience using the Western Union function on the Krungsri app to send money out of thailand? Seems like a good / painless way of avoiding the inevitable blockages when you use other channels (I've tried a couple of times to send money out using UOB but it gets stuck at the head office). I want to transfer about 200k every 6 months or so and the fees for using WU via krungsri aren't too prohibitive. Source of funds is rental income on which i can demonstrate I paid tax (have a tax ID, filed returns etc); however UOB still have never let me, so exploring the krungsri route (i have an account open with them but use it less than my uob account).

Agree with this. The new rules only apply to resident. If you are non resident then no implications. Assuming no other income that would be taxed even if you are non resident (e.g. property rental in thailand), then don't file a return. If they ever challenged just say you were non resident. They have access to immigration records and would be able to find out your entry into thailand. If you're borderline be mindful that days travelling in and out are counted as a full day for the purposes of the 180 day count

Same thing happened to me recently. Was given the Thai ID and it all matched. It was only a 500 baht deposit; why someone is doing this over 500 baht baffles me. Was meant to deliver the next day then i get a photo of his van with it being inspected by the police......glorious sunshine in the background only thing was it was pissing down that day! Learnt my lesson: transfer when I am told by Lala move the goods have been loaded onto their van, otherwise won't buy anything on marketplace again.

Yes that is just like any self-assessment system that works on a remittance basis e.g. UK taxation of resident non domiciles (at least in the past). In my example you could simply remit the original principal i.e. the $100 and if this is pre 2024 income or its a gift or it was from the sale of a property post 2024 where you made a loss then its not taxable. The key is to be efficient with your record keeping and just take a position. They dont have the technology or manpower to scrutinise all remittances into Thailand. Once transactions are all on a blockchain that could change but that's why we need to be weary of a digital ID.

Hi all Another property question. I have received an offer on a condo I own in Bangkok. I purchased it 10 years ago and have all the FETs from the purchase. They were issued by Standard Chartered Bank who no longer have a retail banking presence in Thailand. I was just wondering if there are any horror stories with trying to remit proceeds (net of all the taxes etc) out of Thailand even if I have the FETs or do you think this should be a relatively painless process if I have all the documentation. My agent says it's easy and has seen it done loads of times but wondering if there are any horror stories out there. Thanks !

I don't think this is right. It doesn't tax remittances. It taxes offshore income. For example, say you had $100 in an offshore account earning 3% interest. You then close that account at the end of the year and remit $103 to thailand being your principal and your interest. You will be taxed on $3 subject to relief for any tax paid on that $3 elsewhere depending on whether there is a DTA or not and the terms of that DTA. While I think the new rules isn't good I think there is a general misconception that Thailand is going to start taxing whatever you remit to thailand.

Yes Agree it's going to take balls to start brining a case against the tax authority, but i doubt they have really taken counsel whether the law is in their favour. I think you're probably giving them too much credit and they're trying to wing it. See below. Baker McKenzie (one of the largest law firms) agree that in order to really effect this change they need to change the law which isn't easy https://insightplus.bakermckenzie.com/bm/tax/thailand-offshore-sourced-income-brought-into-thailand-from-1-january-2024-onward-will-be-subject-to-thai-personal-income-tax

Thanks, I've re re-read it and see now that you are saying you are a UK resident. Yes the tax on capital gains is a joke as are many things in the UK! If you have plans to move back to Thailand you should think of selling when you're not resident

I was talking to a Thai tax consultant recently on the new 'rules'. He made a good point that this is just a rule and not the law. There have been no changes to the law which is how we always understood things to be (i.e. no remittance in year the income is earned and you're good). You could simply not follow the 'rule' and instead follow the law and it would be a perfectly legitimate action; he thinks if it ever went to court (yes I know!) you'd win. Big disclaimer: his view not mine but thought interesting nonetheless to share to the forum.