Retirement Visa

[TIPSYBOB]

I am in the process of transfering 800,000 baht to my account in order to renew my retirement visa as I have done for the last 5 years. I understand that the money has to be in the account 3 months prior to the application date. Will the Finance Ministry hold 30% of that sum as they do with other transfers?

[lopburi3]

You should inform your bank the reason for the money transfer so they do not send

30% on to the Bank Of Thailand. Or better yet do it in sums low enough to avoid the question altogether.

[TIPSYBOB]

You should inform your bank the reason for the money transfer so they do not send

30% on to the Bank Of Thailand. Or better yet do it in sums low enough to avoid the question altogether.

Thanks "lopburi3" for your input. From your answer I assume that there is a maximum amount to be transfered without having to avoid the Bank Of Thailand's rule. What is that amount bearing in mind the cost of bank transfers.

[lopburi3]

I believe this tax is for transfers of 20k USD or more. I always keep transfers below 10k USD but do every few months.

[gummy]

You should inform your bank the reason for the money transfer so they do not send

30% on to the Bank Of Thailand. Or better yet do it in sums low enough to avoid the question altogether.

Thanks "lopburi3" for your input. From your answer I assume that there is a maximum amount to be transfered without having to avoid the Bank Of Thailand's rule. What is that amount bearing in mind the cost of bank transfers.

US $ 20000 and less will not attract 30% WHT but should still advise reason for transfer