Transfer money from Thailand to UK

[darbyman]

I hope this is the right section for this enquiry.

I have been told on a number of occasions that it is difficult to get money out of LOS

Here is my dilemma.

Say I want to transfer 10mb from UK bank to my Thailand bank.  8mb will be used to buy and set up home ( in wife's name of course).  2mb will stay in the account to cover visa requirements and possible health issues.

Fast forward 10 years.  For some reason we want to return to UK.  The 2mb is still in the account, the house gets sold and the account is back to 10mb.

Question.  Can I transfer this money back to UK without problems?

[Sheryl]

Yes.

 

It is not true that it is intrinsically hard to transfer money out of Thailand. Some banks have procedures that make it difficult, some do not.

 

Just (1) keep record of the transfers in so you can if necessary prove later the money was brought in from abroad. Ask the receiving bank for copy of the incoming "Credit Advice".  and (2) Chose a Thai bank which is easy in terms of international transfers.

 

I am moving this to the banking and finance forum where others can probably chime in and suggest specific banks.

[Thomas J]

18 minutes ago, Sheryl said:

 

 

It is not true that it is intrinsically hard to transfer money out of Thailand. Some banks have procedures that make it difficult, some do not.

 

 

I disagree.  I have found the banks in general are loathe to transfer money unless it is to pay for something and they demand an invoice.  That could be the purchase of property, or perhaps rent.  My fiance is Thai and Norwegian.  They limit her to a one time transfer of $1 million baht and $200,000 baht per day beyond that unless we can present that she is buying a home or paying some other bill.  

[Democracy74]

When you bring your money in to Thailand in a foreign currency you can obtain an Foreign Exchange Transaction form for that amount, you can then take the same amount out at a later date without any problems or taxes, a lawyer (who you will likely use for the property purchase) can advise you.