Moving Money Out Of Thailand

[lamsai]

Call me lucky

I have been living in Phuket for the past 11 years, have made some good investments here and also work offshore Thailand. Soon I would like to pack it in, sell everything and move back to the home country.

What are the rules regarding transferring monies out of Thailand? ( I have a Thai work Visa and have maintained bank accounts at the same bank since arriving)

If I have a cashiers check made out to me, are they valid in Singapore?

Is there a web site that would list all the regulations on the above matter?

Cheers

[danone]

best is if you can show FECs, Foreign Exchange Certificates that the money you used to acquire investments in thailand came from legal outside channels.

if you made profits, thats no problem. but you have to prove a source of the money to channel it back outside.

[dr_Pat_Pong]

best is if you can show FECs, Foreign Exchange Certificates that the money you used to acquire investments in thailand came from legal outside channels.

if you made profits, thats no problem. but you have to prove a source of the money to channel it back outside.

that is, provided that taxes have been fully accounted for.

[astral]

My understanding is that it is quite a simple matter to go to any branch of your bank and buy $ travellers cheques.

It may not be the most economic way, but it does get the money out

[LivinLOS]

I discussed this with a collegue who has a need to take many millions out of the country that does not have Tor Tor 3's (or whatever that slip is) showing the inward investment.

As clearly came up in the discussion there is no thai law that prohibits a company paying a invoice even if it is large. As it is very trivial to own offshore companies which it is impossible to determine the beneficial owner or director of (I own a seychelles corporation and he has a similar) then simply invoicing for consultancy work and paying your own company seems to be possible.

Simply put he appears to have no restriction on paying (his own) overseas company from his Thai company, the invoices also assits with his possible corporation tax / profit issue.

Will be interested to see what happens next time his accounts are presented.