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Change In Banking Laws Re Sale Proceeds

chiang mai
in Real Estate, Housing, House and Land Ownership

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I've just sold my condo and had discussed with HSBC in Bangkok what to do with the sale proceeds. They said that since I have a non resident account the funds had to be repatriated out of Thailand as soon as the cheque was presented. I hadn't been aware of this rule previously but on checking with other sources I find that is indeed the requirement from BOT.

But I've just had an email from HSBC stating that the above requirement has now changed and non-residents may keep the funds in Thailand and there is no longer a requirement to repatriate the money.

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