Money In,money Out!

[positiveaction]

Hi Looking for some advice.

If you had transferred money to Thailand and then bought a house(not a condo) in a THai Company name and therefore do not have a forex inward certificate......how do you get the money out as I understand and faced this issue that you are limited at least via online banking to $20,000 per year to withdraw. If you go direct to bank and claim it is earnings from work( which i did also) then i managed to send 3000-4000 quid that way.

But say the amount is 6 million baht .....how to withdraw it back to UK?????

Any thoughts appreciated!

[InterestedObserver]

Have you paid any Thai taxes on this hypothetical, undocumented 6 million baht?

[positiveaction]

Have you paid any Thai taxes on this hypothetical, undocumented 6 million baht?

I paid the necessary taxes to buy the house with the company, but the money was a loan to the company so no other taxes were due. When the house is sold I would pay the corporate tax necessary at the time of the sale as is necessary at the land office. At that point the money would be "taxed" as should be.....it's the forex controls that are the issue after that.......

[InterestedObserver]

If you transferred the money in through a Bank there are records. Look in your bankbook(s) for the dates and if lucky the transfer code, if any. Armed with this info go to the bank and ask them for at least a forex letter, if not an original FETF. FETF and taxes paid should allow you to repatriate your funds.

[stgrhe]

You could transfer the money in batches claiming it as support to your parents. This will work all the time. Another way, since you have a company, is to claim that the money is for advertisements, but this may be more tricky.

[positiveaction]

If you transferred the money in through a Bank there are records. Look in your bankbook(s) for the dates and if lucky the transfer code, if any. Armed with this info go to the bank and ask them for at least a forex letter, if not an original FETF. FETF and taxes paid should allow you to repatriate your funds.

thanks ill give that a try.......

[positiveaction]

You could transfer the money in batches claiming it as support to your parents. This will work all the time. Another way, since you have a company, is to claim that the money is for advertisements, but this may be more tricky.

I was doing the transfer with some other money last year on the for parents bit via internet and got blocked at the limit which is 20,000 USD, though i did some more through over counter...just not sure they would do a big amount over counter.....