Is There A Limit

[binnsy]

I was wondering if there is a limit on how much i could bring into Thailand in caqsh ..

UK £s

If ther is no limit where is the best place to change it into Baht

[Mid]

in bound , no limit though you will be required to declare funds over X

there are limits on the amount you can take out , both here and the UK .

[binnsy]

35k is this possible?

[Mid]

happy to be corrected but i believe you will need to explain that amount to the UK authorities prior to departure .....

best of my knowledge it's possible providing you can identify the source of the funds as legit .

others will be along soon to ask why you wish to do this .

[sonicdragon]

in bound , no limit though you will be required to declare funds over X

there are limits on the amount you can take out , both here and the UK .

I thought there was only a requirement to *declare* cash taken out of the UK (if travelling outside the EU), and only if the amount is greater than 1000euro ? I didn't know there was still a limit (what is it ?) Customs and police officers can seize cash greater than 1000 pounds if they suspect it is the proceeds of, or intended for use in, illicit activities, wherever it is found in the UK.

[binnsy]

it is some of the proceeds from the sale of my house.could or would it be better to swift transfer into my thai bank acc

[Mid]

swift transfer into my thai bank acc

obvious way to go X 2 .

that's to say two separate transfers of 1/2 the amount to avoid the 30% withholding locally .

make sure you instruct the UK bank to send pounds for the conversion to be done here .

[A_Traveller]

it is some of the proceeds from the sale of my house.could or would it be better to swift transfer into my thai bank acc

Yes.

Regards

Edit PS If the funds are to purchase a property here then make sure that fact is specified in the transfer. Not sure you need to transfer * 2, since I don't expect a transfer such as this to be subject to withholding.

Edited July 8, 2007 by A_Traveller

[Mid]

Not sure you need to transfer * 2, since I don't expect a transfer such as this to be subject to withholding.

your call and maybe not so good advice , the amount indicated IS over the threshold and the forum is full of stories ..................

[A_Traveller]

Not sure you need to transfer * 2, since I don't expect a transfer such as this to be subject to withholding.

your call and maybe not so good advice , the amount indicated IS over the threshold and the forum is full of stories ..................

Must admit I've not seen a specific herein about withholding hitting at at such a level if the purpose for transfer is identified as purchase of property, but again I don't claim to read every thread. As an aside, however, breaking a single transfer into sections is called smurfing {yes, after the blue cartoon characters} and can be a reportable issue within the EU.

Regards

/edit format//

Edited July 8, 2007 by A_Traveller

[Mid]

damned if you do and damned if you don't ...................

thanxs for the heads up re smurfing .

[JAS21]

I was wondering if there is a limit on how much i could bring into Thailand in caqsh ..

UK £s

If ther is no limit where is the best place to change it into Baht

Thats above the limit. I swifted £60K+ in March..the majority of it to buy a 5-series BMW. It was held 'somewhere' for several hours until I produced the 'bill of sale', 'passport' etc etc to my local branch of Bangkok Bank. I don't think just saying that you are going to buy a house is enough..I guess that they will want to see proof..ie agreement to buy. Other way is to transfer in 'lots' of less than $20000 equivalent.

As said before and before and before..transfer to Thailand £sterling and not Baht...Exchange at the Thailand bank to get the onshore rate.

[Mid]

as an aside to this thread ,

The Post Publishing Public Co

In December, the army-installed government imposed strict currency controls to slow the baht's rise, only to be forced into an embarrassing turnaround after the measures sparked the biggest-ever one-day drop on the stock market.

The cabinet then proposed new restrictions on foreign investment that shook business confidence, but six months later those measures have still not received final approval to become law.

along the lines of TIT ........................

[chickencurry]

Thats above the limit. I swifted £60K+ in March..the majority of it to buy a 5-series BMW. It was held 'somewhere' for several hours until I produced the 'bill of sale', 'passport' etc etc to my local branch of Bangkok Bank. I don't think just saying that you are going to buy a house is enough..I guess that they will want to see proof..ie agreement to buy. Other way is to transfer in 'lots' of less than $20000 equivalent.

As said before and before and before..transfer to Thailand £sterling and not Baht...Exchange at the Thailand bank to get the onshore rate.

Is it the final bank in Thailand that will query a large amount coming in and ask for proof? We are about to do 2 transfers from HSBC in Singapore to Kasikornbank in Thailand for a house purchase. I am unsure if it goes direct to Kasikornbank or somehow gets routed via HSBC Bangkok (we don't have accounts there). HSBC Singapore are adamant that you can simply write "for purchase of property xxxx" on the TT and everything will be just fine. We are rather dubious about this and very nervous.