Deposit Of Funds - Foreign Origin Certification Letter

[MoTewada]

I recently transferred the 800K required for retirement extension into a TH bank. I understand that if one wants to repatriate the funds at a later point one is required to show proof of foreign origin. Question: Is there an official form available whereby the bank certifies the foreign origin. If so, where is it available and how does this certification process work?

[lopburi3]

One off topic post with false information removed.

[Kalbo]

You'll need to pay a visit to the bank where the funds were deposited, and ask for the documentation. (I can't remember what the name of it is). Make sure to check that the part

'Purpose of transfer (or similar) is filled in correctly) . I got mine from the Kasikorn Bank, and they didn't charge for it.

[Pib]

I thought such letters were for things like condo purchases so when the condo is sold in the future a person could repatriate the funds if desired, but not for things like the 800K needed for yearly "living expenses" which means the money will be consumed in Thailand....will never get back until we figure out how to sell eaten groceries, beer we drank, etc. Also, doesn't it have to be an amount of at least $10K or thereabouts to get such a letter issued by the bank.

[Darrel]

I got a form from Kbank for my visa deposit money. The transfer was for a bit more than the 800K required, and I wrote "condo purchase" as the reason for the transfer anyway, as it cant do any harm. I havent bought a condo yet though.

The form was free and took a minute to issue.

[PattayaParent]

I thought such letters were for things like condo purchases so when the condo is sold in the future a person could repatriate the funds if desired, but not for things like the 800K needed for yearly "living expenses" which means the money will be consumed in Thailand....will never get back until we figure out how to sell eaten groceries, beer we drank, etc. Also, doesn't it have to be an amount of at least $10K or thereabouts to get such a letter issued by the bank.

It's US$50k now for the Foreign Exchange Transfer Form (FETF), any amount below that you need a bai rap rong which will detail the transfer.

They should be issued for any transfer of funds, not just for condo purchases.

[JamesSwan]

I have move funds out of Thailand(800+) during the market melt down,back in 09..sent from K-Bank to my USA bank.I only did a standard wire transfer with no "REASONS GIVEN"..I also just moved the same amount "INTO" Thailand from (USA) using the "DD" deposit to my Bangkok Bank acct(Social security/Govt. funds)..It seems that if you use that method(if you have a BB acct/direct deposit acct,the fact you our connected with Bangkok Bank,who has a licence to do business in America,and it is your Bank of record(at least having a acct there"USA" no reporting to oversight agency is required.I might add that if you use a "Fixed acct," for your visa requirements,you can get a "Credit card using that same acct.as security.The bank will issue you a letter for immigration for fixed funds,with no mention of it also being used to secure your credit card..thus "Killing two birds with one stone"..it works with the benefit of really not causing you extra money(secured card),as the money remains fixed as long as you keep the credit card,and i plan on never moving that money out.This method has only one drawback,as the funds will need to remain in that fixed acct for three months after you decide to give up your credit card.it also should be noted that your payments for the card can't be deducted from the secured fixed acct,thus requiring a second savings acct,to service the card,I am using a direct debit/pmt in full every billing period to avoid "20%" interest charges...hope this helps on more than one front!

[Dancealot]

Is it possible to combine the 800K requirement for non 0 with transferring funds to buy a house. Since i am low on money i want to be creative.

Thanks cheers!

[JamesSwan]

No! If your money for a "Retirement visa"(800G) is set in a account for the required time period,then removed after the visa is approved,then you can do what you want with it.The exception to that rule is "Any funds for condo,home purchase must come from outside Thailand and documented for that purpose only"!Thailand's rules for ownership of homes,condos & (rarely land),our filled with many "Big deep holes",and you will end up very much poorer..."RENT"!No problems of major concerns.Follow the immigration rules to the letter.Do not overstay your visa,and try to not be overly creative,as "Thais have that market cornered"!Chok dee

[aurelius]

Is it possible to combine the 800K requirement for non 0 with transferring funds to buy a house. Since i am low on money i want to be creative.

Thanks cheers!

I'd say its possible to combine until such time as you actually buy the condo and pay for it, then you no longer have the 800k as cash in the bank. The 800k is only ever checked as a " deposit balance" - the original source or the declared intention for the funds is not requested.