I just sold my condo and have 8,000,000 in my bank.  I would like to move this money out of Thailand.  Hope I can get some advise on how to do this.

 

Bought the condo 18 years ago and don't have records of bringing the money into Thailand.

When you sold your condo the Land Office will have issued you with a blue sales receipt showing tax was paid on the sale, that is all the bank needs to see to transfer the funds overseas.

Where are you trying to send the money to? Dee money will send to some western countries, I just used it to send a little over 300k baht to the USA.

 

They have maximum amounts, not sure how much per transaction but would likely have to split this into several. Check their website.

 

But first try a regular SWIFT transfer at your bank, using proof on condo sale, as suggested by poster above.

saengd said it right.. all you need is full documentation of the sale, i.e. sale contract, land department documents attesting to the sale and transfer, copy of the bank draft showing the amount the condo was sold for and any TT3 receipt issued to you when you brought the funds over to buy the condo and you're good to go...

  Was the condo freehold or in a company?

If you have the paperwork from the sale bank shouldn’t have a problem sending it by SWIFT.

Sold my condo in September

The FET from my purchase 10 years ago was never even brought into use.

You can transfer the sales amount that is put on your land transfer document, the one that you're transfer tax is calculated on.

This is the big document that the bank will use.

In my case the estate agent under reported the amount on the land transfer document to "help" me and the buy not pay as much transfer tax.

I did the remit for the full amount of the land transfer document after a one day wait for the cashiers cheque to clear.

No problem at SCB in Pattaya, bring your passport, SWIFT code for receiving bank, and IBAN number for receiving account.

Prepare to wait, took me upwards of 4 hours due to the size of the transfer freaking out the bank employees and phoning Bangkok many times to make sure everything was good.

Transfer took one day, and into my offshore account

The remainder of the amount was transferred the following week also by SCB.

You can transfer up to 50,000 USD per day legally 

I had photocopies of the two cashiers cheques, one for the land transfer amount and the second to top up for the full amount of the sales price.

So for the second transfer I showed the second cheque and said it was for the furniture in the condo

Not a problem and transfer done and in my account 4 hours later

 

There will be others who have had problems, this is Thailand but all in all my money transfer was as smooth as silk.

Sold at a nice profit also, due to the change in baht from 10 years ago to now.

•  

The US, Canada and Australia do not use the IBAN system

On 2/16/2020 at 11:48 AM, Sheryl said:

Where are you trying to send the money to? Dee money will send to some western countries, I just used it to send a little over 300k baht to the USA.

 

They have maximum amounts, not sure how much per transaction but would likely have to split this into several. Check their website.

 

But first try a regular SWIFT transfer at your bank, using proof on condo sale, as suggested by poster above.

I just used Deemoney for the first time.  I tried to create an account online and the website required a copy of a Thai National ID card or Thailand Passport, or a Thai phone number so they could "call to set up an appointment to meet at the office or at a place of (my) convenience.  Neither was an option because I am not Thai and not in Thailand at the time.  Seemed odd anyway.  So, I had my gf do it and transferred the money from my Thai bank to hers and sent it to my overseas bank.  I am unclear on the details, but I think she did the whole thing over the phone, maybe using the app or website, but she didn't need to "meet" anyone and the whole thing was set up in a few minutes.  So, how did this work out for you, assuming you are a foreigner?

 

to the OP- Although you may have to do a number of transactions, they only charge 150 THB per transaction + 7% VAT on the 150 and claim to have better exchange rates than the banks.  Aside from the transaction fee I am getting about 1750 THB less than the mid-market exchange rate on a transaction of only 25,000.  So I lost a little less than the SWIFT fees alone from Krungsri and probably a better exchange rate, but if I were moving 800k, I would be definitely looking for the best exchange rate, which is probably deemoney.  Their exchange rates are posted on their website, as well as all the participating overseas banks.

 

 

If u dont find another way.  Just wire transfer 1 M bhat at a time.

If you try to do all at once without a Tor Tor 3 you may face a problem.

1 minute ago, Captain 776 said:

If u dont find another way.  Just wire transfer 1 M bhat at a time.

If you try to do all at once without a Tor Tor 3 you may face a problem.

Read Post # 2

I sent a million baht to the UK using my main Kasikorn branch. All I needed was my passport and bank book. It arrived in my Nationwide Building Society account the same day. They did say there is a maximum of 50,000 USD per day.

Buy bitcoin, transfer to exchange in country of choice, sell and withdraw

48 minutes ago, keysersoze276 said:

I just used Deemoney for the first time.  I tried to create an account online and the website required a copy of a Thai National ID card or Thailand Passport, or a Thai phone number so they could "call to set up an appointment to meet at the office or at a place of (my) convenience.  Neither was an option because I am not Thai and not in Thailand at the time.  Seemed odd anyway.  So, I had my gf do it and transferred the money from my Thai bank to hers and sent it to my overseas bank.  I am unclear on the details, but I think she did the whole thing over the phone, maybe using the app or website, but she didn't need to "meet" anyone and the whole thing was set up in a few minutes.  So, how did this work out for you, assuming you are a foreigner?

 

 

 

No problem for foreigner to open an account using passport. Though they i itizlly asked to come into one of their offices I explained I didn't live in Bkk and was able to do it all by email. Sent scanned passport page etc.

 

Email them or contact via Line.

@kwonitoy

 

You have just posted the best news ever, about transferring money out of Thailand!!!

50k USD per day, legally!!

 

Is this true? I have heard it before. It sounds so easy, compared with wheeler dealing with gold/Bitcoin/underage hookers.

 

So, even if you had 8m THB to transfer, you could still get it out of Thailand in six days!

 

You'd lose some money with the repeated fees for the multiple transactions, but that's a lot better than having to leave money in Thailand once you've left the country.

 

????

2 hours ago, Tapster said:

@kwonitoy

 

You have just posted the best news ever, about transferring money out of Thailand!!!

50k USD per day, legally!!

 

Is this true? I have heard it before. It sounds so easy, compared with wheeler dealing with gold/Bitcoin/underage hookers.

 

So, even if you had 8m THB to transfer, you could still get it out of Thailand in six days!

 

You'd lose some money with the repeated fees for the multiple transactions, but that's a lot better than having to leave money in Thailand once you've left the country.

 

????

The rules for transferring funds out of Thailand are different for Thai's and foreigners, they are different yet again for Chinese people, the regulations are here.

 

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

 

Before you can transfer funds out you need to prove you transferred them in or earned the money here and paid tax  on it. If you can't do those things you can't transfer even one Dollar overseas.

5 hours ago, Alex2554 said:

The US, Canada and Australia do not use the IBAN system

Transferred to my HSBC offshore account

1 hour ago, saengd said:

Before you can transfer funds out you need to prove you transferred them in or earned the money here and paid tax  on it. If you can't do those things you can't transfer even one Dollar overseas

Really? I've use Dee Money several times to transfer out of Thailand. I believe there's a dropdown that asks purpose of transfer but none requiring to certify source of funds.

32 minutes ago, Why Me said:

Really? I've use Dee Money several times to transfer out of Thailand. I believe there's a dropdown that asks purpose of transfer but none requiring to certify source of funds.

BOT very recently relaxed the rules on this so it's probably a little bit easier today than it was yesterday, the emergence of outfits such as Deemoney also helps. But it will be just a difficult as ever to transfer via the banks, unless you have all the paper work. You may well get away with relatively small transfers using Deemoney but they will have a quite low limits also.

 

If you see in the thread further back on this page you'll see the BOT regulations that govern this.

Edited February 18, 20206 yr by saengd

I’ll carry it out for you. Just wait on the other side of border.....

just a little humor I needed it today.. humor

On 2/16/2020 at 11:51 PM, Delight said:

  Was the condo freehold or in a company?

What does that matter, it’s over and he has the money in his bank.

The OP doesn't mention what kind of visa he's on.  I found that the rules changed significantly when my WP expired and I went on visa exempt. 

 

I'm not claiming to know what the rules are in his specific case, but my experience at that time in 2018 was "no can do unless you're on a long term visa".  That was K-Bank, and they patched me through to the main office who claimed it's Thai law and not bank policy.

 

1 hour ago, impulse said:

The OP doesn't mention what kind of visa he's on.  I found that the rules changed significantly when my WP expired and I went on visa exempt. 

 

I'm not claiming to know what the rules are in his specific case, but my experience at that time in 2018 was "no can do unless you're on a long term visa".  That was K-Bank, and they patched me through to the main office who claimed it's Thai law and not bank policy.

 

I think there are several rules governing this:

 

Work Permit - can export 80% of salary freely

Long stay visa (retirement or marriage) - not difficult as long as proof of incoming funds is shown.

Visa Exempt/Tourist Visa - very difficult I would guess.

 

All of which makes perfect sense to me.

On 2/18/2020 at 1:49 PM, Tapster said:

@kwonitoy

 

You have just posted the best news ever, about transferring money out of Thailand!!!

50k USD per day, legally!!

 

Is this true? I have heard it before. It sounds so easy, compared with wheeler dealing with gold/Bitcoin/underage hookers.

 

So, even if you had 8m THB to transfer, you could still get it out of Thailand in six days!

 

You'd lose some money with the repeated fees for the multiple transactions, but that's a lot better than having to leave money in Thailand once you've left the country.

 

????

I think it would be difficult to get the hooker out of Thailand and even harder exchanging her for cash at home. 

Just my opinion though. ????