Can You Easily Export The Proceeds Of A Property Sale

[SGD]

Say you import Bt5m to buy a condo and then sell it for Bt8m a few years later. This was held in a foreigner's name and a FET/TT3 was obtained when the funds came into Thailand.

Can you export the fullBt8m or just Bt5m or is there some mathematical formula ?

Then say you import Bt5m but buy a house through a company. You then sell that house and perhaps the company for Bt8m. How much can you export then ?

What about a Thai. If they bring money in Bt5m and buy a house and then sell it later for Bt8m. How much can they export ?

I know you can get it al out of the country one way or another but I want the official viewpoint.

[trogers]

Depends on whether you declare the full amount of Bt8m as sales figure and paid tax on it during title transfer.

[PattayaParent]

Ah, the weekly can I send the money out of the country question.

[chickencurry]

Our bank (Kbank) told us we could only export what we had originally brought in and, even then, you need to have all the correct paperwork (records of the money coming in), and the official documentation about the sale. As we're now selling for less than we paid, we obviously won't have this problem.

I know of others who have sold at profit, taken the extra monies out of the bank in cash, converted at the moneychangers to whatever currency, and jump on plane with money... voila.... exported.

[johnnyk]

You can take out what was brought in officially and documentation is in order. As for the rest tax must be paid then I believe you can take out what remains.

[london]

The is nothing sinister or difficult about the process.

If you sell your condo or property for say 15 million, as long as you have the appropriate paperwork you can send 15 million out of the country...AND you don't have to do it all in one hit if you don't want to, nor do you have to send it to one account.

I have done it and its a breeze. If in doubt, even your bank will help you ensure you have the correct paperwork.

Oh, and its quicker (immediate...they do it whilst you're there) and cheaper than doing the same from London or Melbourne !!!!