Is Thailand Value for money

[buzzer]

Hi,

I've heard that it isn't easy to transfer money out of Thailand. I would like to transfer into my Thai bank money from my US bank. Enough to buy a house using my Thai corporation.

I read somewhere that there was a limit of a million baht, or so, that could be transferred out per year. However, another thing I read said there was no problem as long as I can prove that I transferred it in. I searched around Thaivisa and elsewhere, but can't find a definitive answer.

Will I run into any difficulties should I decide to transfer a large amount out of Thailand in the future?

Thanks for your help. - Buzzer

[Digitalbanana]

I've always planned on the premise that anything I bring into Thailand will be history in time to come.

[buzzer]

Hi,

In fact I agree with the previous post, however, that says nothing about Thai policies and regulations.

Does Thailand have a limit on amount of money that can be transferred out of the country once it has been brought in? This is all my personal money, not money from or for a corporation.

Some have said that if you keep the documentation that you wired it in, you can wire it out. Others have said there is a yearly limit on what can be taken out of Thailand.

Does anyone have the correct answer to this question?

Thanks - Buzzer

[chiang mai]

My experience on this subject is that you can take out of Thailand an amount of money equal to the tax paid amount of your real estate sale price. Import as much money as you wish, state purpose and then buy real estate. Later, sell real estate and pay taxes on the TRUE sales price and obtain a receipt from the Land Office - also show letter confirming the money used to purchase the property was brought in from outside Thailand. Banks will need the receipt when you transfer the balance out again.

Having said those things, if you screw up somewhere along the line there is no real problem getting the money out again albeit it can be a slow process involving some time.

[tangoll]

Today, I used several million baht, purchased Hong Kong dollars, and transferred it out in one shot at Bangkok Bank. I had the tax receipts and other documents on sale of a condo, filled in the transfer application, signed one other form needed by Bank of Thailand (for money laundering checking purposes), and the whole thing took 45 minutes.

The bank not once looked at the Foreign Exchange Transaction Form showing the import of the funds into Thailand. Nor did they stamp or recorded on the tax receipts/other forms that the proceeds from this transaction has been exported. Easy and quick, but you have to have the copies of the documents they want to see, and the most important is the original of the blue tax receipt issued by the Land dept office when you transferred the ownership of the condo to the new buyer. The amount of baht I used to purchase the HK dollars was just a bit less than the transfer ownership amount, but still several million baht.

[Chaimai]

See this one:-

http://www.thaivisa.com/forum/Restrictions...ey-t204188.html

[prefabs]

My experience on this subject is that you can take out of Thailand an amount of money equal to the tax paid amount of your real estate sale price. Import as much money as you wish, state purpose and then buy real estate. Later, sell real estate and pay taxes on the TRUE sales price and obtain a receipt from the Land Office - also show letter confirming the money used to purchase the property was brought in from outside Thailand. Banks will need the receipt when you transfer the balance out again.

Having said those things, if you screw up somewhere along the line there is no real problem getting the money out again albeit it can be a slow process involving some time.

Do you mean condo or real estate as in House and Land?

[lifeisrandom]

lol just carry it out in a briefcase without going over the allowed amounts. its like $20k USD a pop right? With your wife thats $40K a go.

Edited September 19, 2008 by lifeisrandom

[Digitalbanana]

For sake of argument, say I wire in from offshore USD worth 5M Baht - I've leave the money sitting in a Thai Bank acc and I am a foreigner maybe on a tourist or transit visa. Currently when I do wire transfers it's all done on line. The money just shows up on my Thai account as added baht. No documents or paperwork involved. Can I simply wire the 5M Baht out again? Any pitfalls?

No plans to buy property etc.. maybe just use the cash for a rainy day..

[d44]

Up to THB 5M they don't have to ask questions.

Doesn't mean they won't though.

http://www2.bot.or.th/fipcs/Documents/FOG/...DF/25510079.pdf