Selling Question

[Timothys]

Hi,

If I buy property in Thailand, when I come to sell can I get the money back to England? Is it possible to just do a bank transfer from my Thai bank account to my British one? I've heard you can't take money out of Thailand once it's there. Is this right?

Thanks in advance

[phayao]

It is my understanding that in order to have the right to "export" back your money you need to "import" it legally, that is to certify that these funds come from abroad into the Kingdom.

To do this you need to channel your money through some "certified" banks. I did it using the HKSB, whose offices are near Lumpini Park.

What I don't know yet is whether you can "export" more than what you have "imported". I suppose you can, as 10 Mill THB don't have the same value in 1997 as in 2007.

[Irene]

It is my understanding that in order to have the right to "export" back your money you need to "import" it legally, that is to certify that these funds come from abroad into the Kingdom.

To do this you need to channel your money through some "certified" banks. I did it using the HKSB, whose offices are near Lumpini Park.

What I don't know yet is whether you can "export" more than what you have "imported". I suppose you can, as 10 Mill THB don't have the same value in 1997 as in 2007.

You are right. When you import the fund, you need to state on the exchange control form stating the purpose of the fund. If this is specifically spelt out of the property involved, upon export, any gain therefrom plus the amount of the capital fund could be exported. The Band of Thailand is pretty reasonable throughout.