dr_lucas Posted May 1, 2023 Share Posted May 1, 2023 Is it possible for a foreigner to transfer money out of Thailand that was gained when the foreigner sold a condo he previously purchased? eg. Condo purchased for 10m baht (original 10m amount came from abroad obviously) and sold for 20m. Is it ok to TT all the 20m or only 10m baht? Link to comment Share on other sites More sharing options...
kwonitoy Posted May 1, 2023 Share Posted May 1, 2023 You can transfer the amount of money that's had the taxes paid for it at the land office without any problem. Land office will give you a receipt for taxes paid amount and take that to the bank. Agents in Thailand will report a lower number of sales price to the land office to pay less tax, but it's a double edged sword when trying to transfer the money out. 1 Link to comment Share on other sites More sharing options...
sammieuk1 Posted May 1, 2023 Share Posted May 1, 2023 If no solution found buy gold and wear it out ???? 1 Link to comment Share on other sites More sharing options...
dr_lucas Posted May 2, 2023 Author Share Posted May 2, 2023 (edited) 7 hours ago, kwonitoy said: You can transfer the amount of money that's had the taxes paid for it at the land office without any problem. Land office will give you a receipt for taxes paid amount and take that to the bank. Agents in Thailand will report a lower number of sales price to the land office to pay less tax, but it's a double edged sword when trying to transfer the money out. Not only that declaring lower sale price is a double edged sword, but it's also usually a tiny savings when the major taxes are based on appraisal value anyway. Illegal and not worth it for most sellers IMHO. Edited May 2, 2023 by dr_lucas Link to comment Share on other sites More sharing options...
Delight Posted May 2, 2023 Share Posted May 2, 2023 Given that no Thai money actually moves using DEE MONEY-then could this system be used? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now