NRG Posted October 9, 2004 Share Posted October 9, 2004 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 ? Link to comment Share on other sites More sharing options...
Sumitr Man Posted October 9, 2004 Share Posted October 9, 2004 Did you bring any money into Thailand to help pay for the construction costs? Link to comment Share on other sites More sharing options...
NRG Posted October 9, 2004 Author Share Posted October 9, 2004 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. Link to comment Share on other sites More sharing options...
Sumitr Man Posted October 9, 2004 Share Posted October 9, 2004 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. Link to comment Share on other sites More sharing options...
NRG Posted October 9, 2004 Author Share Posted October 9, 2004 And that includes the initial investment as well as the profit ?? Link to comment Share on other sites More sharing options...
Cabana Posted October 9, 2004 Share Posted October 9, 2004 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? Link to comment Share on other sites More sharing options...
12call Posted October 9, 2004 Share Posted October 9, 2004 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. Link to comment Share on other sites More sharing options...
Sumitr Man Posted October 9, 2004 Share Posted October 9, 2004 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 Link to comment Share on other sites More sharing options...
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