Options: Transferring Funds From UK For Condo Purchase - Advice Needed

[koolkarl]

On 12/4/2023 at 5:00 PM, Phulublub said:

Hogwash.  Reference please, or go away.

 

PH

Soon you will see who will have the last laugh dinosaur.  Just search the net before an unfounded comment.

[ravip]

On 12/3/2023 at 9:09 AM, blackcab said:

1. You must send pounds sterling, and it must be exchanged into baht by a bank in Thailand. Do not, under any circumstances, get your British bank to send Thai baht.

 

2. Your bank can transfer any amount of money, but perhaps not by using your banking app. Call customer services and see if you have to go into the branch to complete the transfer.

Does #1 apply to all International transfers other than Pounds Sterling?

e.g. USD from the US, French Francs from France, Norwegian Kroner from Norway etc

[blackcab]

6 hours ago, ravip said:

Does #1 apply to all International transfers other than Pounds Sterling?

e.g. USD from the US, French Francs from France, Norwegian Kroner from Norway etc

 

Yes and no. You must remit foreign currency to Thailand, but you do not have to remit the same currency as the country you remit it from. Also, you do not have to remit the same currency as your nationality.

 

As an example an American could remit Euros from Japan, a German could remit USD from the UK and a Chilean could remit Malaysian Ringgit from the Turks and Caicos Islands. All of these are acceptable.

 

This is because the Thai government wants foreign currency reserves and they are not too fussy about what foreign currency they hold (although naturally the major currencies will probably be remitted more than minor, obscure currencies).

[ravip]

12 hours ago, blackcab said:

 

Yes and no. You must remit foreign currency to Thailand, but you do not have to remit the same currency as the country you remit it from. Also, you do not have to remit the same currency as your nationality.

 

As an example an American could remit Euros from Japan, a German could remit USD from the UK and a Chilean could remit Malaysian Ringgit from the Turks and Caicos Islands. All of these are acceptable.

 

This is because the Thai government wants foreign currency reserves and they are not too fussy about what foreign currency they hold (although naturally the major currencies will probably be remitted more than minor, obscure currencies).

Thank you. Very clear explanation.

[Phulublub]

On 12/6/2023 at 3:04 PM, koolkarl said:

Soon you will see who will have the last laugh dinosaur.  Just search the net before an unfounded comment.

So you cannot back up your (false) claim with any evidence....thought so.  Impossible to find something (other than conspiracy theories) that does not exist by searching the internet, so I'll pass on that invitation.

 

PH

[topt]

On 12/10/2023 at 8:07 AM, Phulublub said:

So you cannot back up your (false) claim with any evidence....thought so.  Impossible to find something (other than conspiracy theories) that does not exist by searching the internet, so I'll pass on that invitation.

 

PH

Have you not been following the mammoth "tax" thread or seen any of it's offspring.........

https://aseannow.com/topic/1306896-thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/

 

However even though the Thai RD has issued a couple of amendments to regulations there is still a distinct lack of clarity over how it will all work. One issue for example is the distinction  between savings and income. Another is that trying to tax money bought in for property purchases is potentially shooting themselves in both feet.

 

So whilst @koolkarl 's initial statement may not be 100% correct a warning that things may change is certainly warranted. 

[Phulublub]

On 12/13/2023 at 11:42 AM, topt said:

Have you not been following the mammoth "tax" thread or seen any of it's offspring.........

https://aseannow.com/topic/1306896-thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/

 

However even though the Thai RD has issued a couple of amendments to regulations there is still a distinct lack of clarity over how it will all work. One issue for example is the distinction  between savings and income. Another is that trying to tax money bought in for property purchases is potentially shooting themselves in both feet.

 

So whilst @koolkarl 's initial statement may not be 100% correct a warning that things may change is certainly warranted. 

Warning that things may change is fine...making false statements (as you did) is not.

 

You said "Any funds transferred into Thailand will have to reported on a Thai tax return. ".  They do not.  They MAY have to be at some time in the future.

 

PH

[topt]

2 hours ago, Phulublub said:

Warning that things may change is fine...making false statements (as you did) is not.

 

You said "Any funds transferred into Thailand will have to reported on a Thai tax return. ".  They do not.  They MAY have to be at some time in the future.

 

PH

I suggest you go back and look - I was not the poster who said that and was actually agreeing with you.

 

An apology would be nice unless you can show me how I made a "false statement"? 

[Phulublub]

10 minutes ago, topt said:

I suggest you go back and look - I was not the poster who said that and was actually agreeing with you.

 

An apology would be nice unless you can show me how I made a "false statement"? 

Apologies...you replied to my message and I did not realise it was a different poster; I erroneously thought it was a continuation of the disagreement with the OP.

 

PH