Bringing 4.7 Mill Baht To Los

[simon43]

Although I'm currently doing fine on multiple entry non-immigrant B visa, I just want a quick check to make sure that I am not missing out on any visa 'advantages'

Next month my Thai ltd company is purchasing some land in Phuket. (I am the director and bank account signatory). This land will be used for both a private house for me and to build a small hotel, (so further millions of baht will also come into LoS as the house and hotel are built)

To fund this purchase I will send 4.7 million baht from the UK to my personal bank account in BKK.

I have assumed that, because this is a Thai ltd company deal, there are no visa advantages that I'm going to gain by bringing this money into LoS. Or are there? I don't want to send this money and then find that if I had done X and Y first, then I would be eligible for a 50 year visa and free BGs thrown in...

On a more general note, I have previously paid for land, car etc in LoS by sending money directly from my UK account to the 'seller' in LoS. I assume that it might be better for me to actually send this money firstly to my Thai bank account, so that evidence builds up of funds being transferred into LoS

Any comments welcome!

[dr_Pat_Pong]

Evidencing funds from abroad is a sound idea. You can extend your B visa for up to a year at a time if you get a work permit.

[simple1]

Although I'm currently doing fine on multiple entry non-immigrant B visa, I just want a quick check to make sure that I am not missing out on any visa 'advantages'

Next month my Thai ltd company is purchasing some land in Phuket. (I am the director and bank account signatory). This land will be used for both a private house for me and to build a small hotel, (so further millions of baht will also come into LoS as the house and hotel are built)

To fund this purchase I will send 4.7 million baht from the UK to my personal bank account in BKK.

I have assumed that, because this is a Thai ltd company deal, there are no visa advantages that I'm going to gain by bringing this money into LoS. Or are there? I don't want to send this money and then find that if I had done X and Y first, then I would be eligible for a 50 year visa and free BGs thrown in...

On a more general note, I have previously paid for land, car etc in LoS by sending money directly from my UK account to the 'seller' in LoS. I assume that it might be better for me to actually send this money firstly to my Thai bank account, so that evidence builds up of funds being transferred into LoS

Any comments welcome!

I understand that overseas funds transferred to Thailand to acquire land/businesses should be transmitted directly to your company bank account to comply with Thai law in order to obtain a Tor Tor 3. Therefore funds should not be remitted to your personal bank account in BKK, but to your company account. Would anyone like to to clarify if this is an accurate summary?

[Thetyim]

For immigration/visa requirements the money must be sent from your personal account OR to your personal account.

Sorry cannot rmember which document said this but it was an official immigration one.

[astral]

I understand that overseas funds transferred to Thailand to acquire land/businesses should be transmitted directly to your company bank account to comply with Thai law in order to obtain a Tor Tor 3. Therefore funds should not be remitted to your personal bank account in BKK, but to your company account. Would anyone like to to clarify if this is an accurate summary?

Not necessarily true.

It may be the case if you are purchasing a condo for an investment visa.

When my company bought the house I live in, it was paid for with a cheque drawn on my personal Thai bank account. The cheque went direct to the seller and was not seen by the Land Dept.

Just as well, as the amount did not match what the seller had declared!!