Profits Out Of Thailand

[NRG]

I am in the process of having a house built in Koh Samui at a cost of approximately 6 million Baht with the intention of selling it on completion, and to hopefully make a profit. I have just heard on the grapevine that you are not allowed to take any profit made out of Thailand ...does anyone know if this is true ?

[Sumitr Man]

Did you bring any money into Thailand to help pay for the construction costs?

[NRG]

Thanks for answering, ...at the moment we have paid approx 94500 Baht deposit to the developer but intend to send another 2500000 Baht in a few days with the remaining 3000000 Baht in stages over the next few months.

[Sumitr Man]

OK - so long as you keep the inward transaction currency conversion receipt, you should be able to remit funds back out of Thailand : once you sell the house.

[NRG]

And that includes the initial investment as well as the profit ??

[Cabana]

sumitr man , technically dont u need the tor tor 3 from the bank (for the original payment in) if you remit the funds back out?

[12call]

Initial Investment can be taken out based on inward remittance.

Profit (build another house or buy foreign curreny and take it out personally).

The Euro500 note is a beauty to take out.

[Sumitr Man]

sumitr man , technically dont u need the tor tor 3 from the bank (for the original payment in) if you remit the funds back out?

Technically, you are right. However, practically the Bank of Thailand has a daily floor limit you can remit out of Thailand. So, if you don't mind paying additional fees, you can still remit sums out of Thailand without the TT3; provided you stay below the BoT daily transfer floor limit.

SM