Crypto gains - max reasonable transfer to Thai account

[Calach]

I'd like to cash out some crypto gains, for various expenses.

 

I am willing to clarify my situation with Thai authorities in the longer term and pay required taxes, but at the moment I am not residing with a work permit, so until then I am wondering what kind of amount in THB I can reasonably cash into Kasikorn without calling out loud for undesired scrutiny. 

 

I know there's no definite answer to that, but any thoughts, guesses would be appreciated. 

[phycokiller]

I would be interested too know as well but Im guessing no one will be interested as long as your transactions are less then around US$10000

[jesimps]

I'm looking forward to having the same problem!

[davidst01]

Issues discussed in this thread by OP are indirectly raised in:

 

http://www.smh.com.au/business/markets/central-bank-chief-warns-over-bitcoin-valuations-20171219-h07a89.html

 

''To the extent that investors can exchange their Bitcoins directly in "peer-to-peer" trades, they may face trouble trying to deposit the money in a bank. They will risk triggering money laundering or tax evasion inquiries by the judicial authorities once they start to handle large sums.''

 

If bitcoin rises to 100k or 500k for 1 Bitcoin whats going to happen then when one wants to convert back to fiat? Its worth opening an account in thai family members names if you can guarantee to get the fiat back!

[Rocket Hawks]

My buddy has 20 different bank accounts here in Thailand, none of which are in his name. He just pays local Thais to go into various banks and open up accounts  for him, then give him the bank book and pin etc..Best way to avoid capital gains taxes. Better to just open up a bank account and shell company in Singapore. Your money is untouchable then. Can do this for $3k according to my buddy. Which you can probably afford if you’re making that much off crypto to trigger bank warnings.

Edited December 19, 2017 by Rocket Hawks