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How much money can foreigner send

vaibz

By vaibz
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tonray Ruby Member

tonray

Posted
Posted

It depends on where the money came from. If earned here, you should have proof of tax payments before you can send it abroad. If you originally brought the money in from overseas then you need to show proof of the transfer in before they will allow you to transfer any of it out.

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JaiLai Gold Member

JaiLai

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It depends on where the money came from. If earned here, you should have proof of tax payments before you can send it abroad. If you originally brought the money in from overseas then you need to show proof of the transfer in before they will allow you to transfer any of it out.


You’ve not answered his question??


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JaiLai Gold Member

JaiLai

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Still have to pay taxes...either to Thailand or to country with tax nexus if Thailand has a dual taxation agreement with then no problem.


Nonsense, I’ve lived in Thailand for many years, earned money overseas but paid into Thai bank account, not tax paid in either country.

Anyway that’s by the by you’re STILL not answering the question, what is the AMOUNT ( in usd ) you can send out the country per transaction? Per day or per month.

Ps - it’s ok if you don’t know, someone else I am sure will be along soon.


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tonray Ruby Member

tonray

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Posted
1 minute ago, JaiLai said:

 


Nonsense, I’ve lived in Thailand for many years, earned money overseas but paid into Thai bank account, not tax paid in either country.

Anyway that’s by the by you’re STILL not answering the question, what is the AMOUNT ( in usd ) you can send out the country per transaction? Per day or per month.

Ps - it’s ok if you don’t know, someone else I am sure will be along soon.


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Pay no taxes...hmm...why don't we all do that.. The fact that you don't pay any taxes does not mean you are not liable for taxes. What makes you think you alone are exempt from any taxation ? Time for the ignore list.

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JaiLai Gold Member

JaiLai

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Pay no taxes...hmm...why don't we all do that.. The fact that you don't pay any taxes does not mean you are not liable for taxes. What makes you think you alone are exempt from any taxation ? Time for the ignore list.


Don’t you worry about my tax status treacle.

You’ve still not answered the question - again...


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petedk Platinum Member

petedk

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A  lot of bickering going on. I also have no idea if there is a limit. Knowing Thai bankers they have no idea either. My guess is that there is no limit. 

 

I often transfer and have never been asked to show my tax receipts. I was once asked to show my pay slips for the last three months, but as I never receive any pay slip, I couldn't do that. They refused to transfer for me, so I walked further along the road to the next branch and all was done within five minutes. Oh, they asked for my work permit.

 

I might add - I pay little or no tax too. Perfectly legal.

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JaiLai Gold Member

JaiLai

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A  lot of bickering going on. I also have no idea if there is a limit. Knowing Thai bankers they have no idea either. My guess is that there is no limit. 
 
I often transfer and have never been asked to show my tax receipts. I was once asked to show my pay slips for the last three months, but as I never receive any pay slip, I couldn't do that. They refused to transfer for me, so I walked further along the road to the next branch and all was done within five minutes. Oh, they asked for my work permit.
 
I might add - I pay little or no tax too. Perfectly legal.


Thank you for your experience with this.

If you don’t mind me asking, what were the amounts?

Thanks


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petedk Platinum Member

petedk

Posted
Posted (edited)
7 minutes ago, JaiLai said:

 


Thank you for your experience with this.

If you don’t mind me asking, what were the amounts?

Thanks


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Anything from 20K to 200K.

 

Oh, they also asked the reason for transferring. I was told to write "Family support"

Edited by petedk
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FritsSikkink Diamond Member

FritsSikkink

Posted
Posted (edited)
11 hours ago, JaiLai said:

 


Nonsense, I’ve lived in Thailand for many years, earned money overseas but paid into Thai bank account, not tax paid in either country.

Anyway that’s by the by you’re STILL not answering the question, what is the AMOUNT ( in usd ) you can send out the country per transaction? Per day or per month.

Ps - it’s ok if you don’t know, someone else I am sure will be along soon.


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That is a criminal offense in both countries.

Edited by FritsSikkink
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impulse Star Member

impulse

Posted
Posted (edited)

You also have to consider what kind of visa you're on.  I couldn't transfer any money after my WP expired and I entered on visa exempt.  That was at Kasikorn Bank, whose manager explained to me that it was Thai law, and not bank policy.

 

Edit:  I'm not claiming any expert status, just claiming that things don't always work the way you expect them to...and for reasons that you may not predict.

 

Edited by impulse
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JaiLai Gold Member

JaiLai

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Posted
You also have to consider what kind of visa you're on.  I couldn't transfer any money after my WP expired and I entered on visa exempt.  That was at Kasikorn Bank, whose manager explained to me that it was Thai law, and not bank policy.
 
Edit:  I'm not claiming any expert status, just claiming that things don't always work the way you expect them to...and for reasons that you may not predict.
 


Noted, thanks for the info


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geriatrickid Star Member

geriatrickid

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12 hours ago, JaiLai said:

You’ve not answered his question??

 

He did.

 

12 hours ago, JaiLai said:

Nonsense, I’ve lived in Thailand for many years, earned money overseas but paid into Thai bank account, not tax paid in either country.

Anyway that’s by the by you’re STILL not answering the question, what is the AMOUNT ( in usd ) you can send out the country per transaction? Per day or per month.
Ps - it’s ok if you don’t know, someone else I am sure will be along soon.

 

He answered. You have confused not being caught and questioned vs. what is legal.

 

42 minutes ago, VocalNeal said:

Worldwide below  $9999 per transaction, without explanation. Over $10,000 one has to fill in a form at the bank, giving a reason for the transfer. 

At least this is my experience.

Correct, but under the revised money laundering protocols every transaction is logged and 

available for review by tax authorities.  (In those jurisdictions where there is surveilance.)

Even in free for all jurisdictions like Canada where offshore tax cheats  have few worries, it eventually shakes out when other  tax agencies pick it up, even if indirectly. The current example  is the Panama Papers scandal which has seen EU and US tax agencies go after  cheats. (Only Canada has not initiated any tax collection enforcement.)

The US IRS  is  quite effective at picking off the low level tax cheats because the evaders are so greedy and so  obvious in their methods. Transactions using  USD with western financial institutions are now tracked with data shared. It's not worth it for the financial institutions not to file, just ask credit suisse or soc. generale or wells fargo etc. as they paid  big fines for non compliance.

 

31 minutes ago, JaiLai said:

But it’s not your concern, is it?

 

It is, because honest taxpayers have to pick up the burden for paying for the support of tax  evaders when those non contributing parties require consular assistance, medical support,  or when they return to their homelands and seek  public assistance.

 

 

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petedk Platinum Member

petedk

Posted
Posted
1 hour ago, VocalNeal said:

Worldwide below  $9999 per transaction, without explanation. Over $10,000 one has to fill in a form at the bank, giving a reason for the transfer. 

 

At least this is my experience.

Do you mean dollars?

I thought this thread was about Thai Baht from a Thai bank.

 

I once transferred 8000 Thai Baht and had to fill in the form giving a reason.

Later transferred 20,000 Baht. No reason needed.

 

Like everything in Thailand, it all depends on the clerk's mood.

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simoh1490 Senior Member

simoh1490

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The OP asks how much money he can transfer out of Thailand, the answer varies from person to person based on their circumstances.

 

If you brought money into Thailand and you gave the reason for the transfer as say, purchase real estate, the proceeds from the sale of that property can be exported once again, as long as tax is paid on the sale at the Land Office and a blue tax receipt issued - there is no limit to this type of transaction.

 

If you have a work permit you can remit up to 90% of your earning overseas, there is no upper limit on this type of transfer either.

 

If you brought funds into Thailand for investment purposes you can remit the proceeds overseas based on the documentation that comes with the sale of those assets.

 

If you live in Thailand and don't have a work permit yet you've transferred funds into Thailand, you may or may not be able to transfer some of the funds out again, based on a number of factors. The first is the reason you supplied for the transfer when you first imported the funds, if you wrote, "living expenses" don't expect to be able to transfer the money out because you're supposed to have spent it, living! The second factor is the banks' discretion and who you know in the bank, if you're a long-standing customer with healthy balances, making a transfer becomes easier than if you don't have those things. The suspicion, however, is always going to be that you could be money laundering or be working illegally in Thailand hence the strict approach to these things.

 

Finally, if you transferred salary into Thailand on a regular basis and the reason for the transfer said salary and the account is a resident account, most banks are likely to ask questions, refer the issue to head office and who knows, potentially, even to the tax people. Have to say in 16 years here I've never come across a foreigner who is resident here and has overseas salary remitted here also without first having a Thai Tax Identifier Number (TIN). I suppose it's not that much different from remitting a pension here every month although in the case of a pension, that would probably be deemed to be living expenses.

 

As a general rule, BOT's rules on these things state that USD 50k or the equivalent of, can be transferred out without supporting documentation (which in part refers to the documentation described above). But since the banks act as BOT's agents in enforcing the BOT rules, they tend to err on the side of caution since they are the ones that will get penalised if something is amiss.

 

 

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JaiLai Gold Member

JaiLai

Posted
Posted
The OP asks how much money he can transfer out of Thailand, the answer varies from person to person based on their circumstances.
 
If you brought money into Thailand and you gave the reason for the transfer as say, purchase real estate, the proceeds from the sale of that property can be exported once again, as long as tax is paid on the sale at the Land Office and a blue tax receipt issued - there is no limit to this type of transaction.
 
If you have a work permit you can remit up to 90% of your earning overseas, there is no upper limit on this type of transfer either.
 
If you brought funds into Thailand for investment purposes you can remit the proceeds overseas based on the documentation that comes with the sale of those assets.
 
If you live in Thailand and don't have a work permit yet you've transferred funds into Thailand, you may or may not be able to transfer some of the funds out again, based on a number of factors. The first is the reason you supplied for the transfer when you first imported the funds, if you wrote, "living expenses" don't expect to be able to transfer the money out because you're supposed to have spent it, living! The second factor is the banks' discretion and who you know in the bank, if you're a long-standing customer with healthy balances, making a transfer becomes easier than if you don't have those things. The suspicion, however, is always going to be that you could be money laundering or be working illegally in Thailand hence the strict approach to these things.
 
Finally, if you transferred salary into Thailand on a regular basis and the reason for the transfer said salary and the account is a resident account, most banks are likely to ask questions, refer the issue to head office and who knows, potentially, even to the tax people. Have to say in 16 years here I've never come across a foreigner who is resident here and has overseas salary remitted here also without first having a Thai Tax Identifier Number (TIN). I suppose it's not that much different from remitting a pension here every month although in the case of a pension, that would probably be deemed to be living expenses.
 
As a general rule, BOT's rules on these things state that USD 50k or the equivalent of, can be transferred out without supporting documentation (which in part refers to the documentation described above). But since the banks act as BOT's agents in enforcing the BOT rules, they tend to err on the side of caution since they are the ones that will get penalised if something is amiss.
 
 

$50k US - thanks.

You need to put a reason to transfer money into Thailand, really?

Regarding foreign residents aren’t they few and far between?


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simoh1490 Senior Member

simoh1490

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Posted
7 minutes ago, JaiLai said:


$50k US - thanks.

You need to put a reason to transfer money into Thailand, really?

Regarding foreign residents aren’t they few and far between?


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It's a BOT requirement that all inbound transfers specify a purpose, if you haven't put specified a reason, somebody else has!

 

By resident, I mean tax resident, a person who lives here more than 183 days per year. It used to be possible to be resident in several countries but not be tax resident anywhere, by virtue of that rule, I suspect however that's not possible today. I spent a year doing exactly that, not by design but because of my work, eventually, Hong Kong decided I was resident there even though I spent less than 183 days there in the tax year, that was because my contract was signed in Hong Kong!

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