Transferring Money Out Of Thailand

[freedomnow]

If say, you make substantial gains investing on the SET (ever the optimist), what amount triggers paperwork hassles if you want to expatriate funds offshore ? Are there lower amounts you can send in stages with no 3rd degree hassles on your hard earned offshore nest egg cash ? I see some visa cards allow you to withdraw up to 500k per day which is nice.Guess that means in person at the bank counter or SWIFT wired out and not an ATM.

I have investing earnings brought in multiple times in cash below the $20k declared limit and deposited in cash with my Thai Bank as I did not know to open a HSBC Hong Kong account at the time and wire direct to my broker.The reason I brought cash is superrich kept money in my pocket for my trip ,pure and simple...banks s**ft us little guys every which way.

But I then read later that it can be a hassle if you use a local Thai bank for stock investing and want to suddenly, for whatever reason, get your entire funds out of LOS.

What kind of paperwork is required ? I was an employee and all I have are work visa stamps for 9 years and original offshore cash source bank books.

Edited December 16, 2011 by freedomnow

[thrilled]

My bank does the 3rd degree thing at $7000.The feds sat 10 grand and up.i don't know what the deal is.I don't have any idea what the cap for thailand is

[fletchsmile]

If you have all your paperwork for money coming in or earnings here, it's not much of a problem. BOT issue some info, and Bangkok Bank's website also shows it as simply a case of having the docs. So chat to your bank is a good first step. Examples:

http://www.bot.or.th/English/ForeignExchangeRegulations/FXRegulation/Pages/ExchangeControlLaw.aspx

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Customers/Pages/How%20to%20transfer%20funds%20new.aspx

For banks like BBL, once you set it up once on internet banking, it's easier next time. All sorts of valid reasons to transfer out. Just maintain the paperwork

[freedomnow]

If you have all your paperwork for money coming in or earnings here, it's not much of a problem. BOT issue some info, and Bangkok Bank's website also shows it as simply a case of having the docs. So chat to your bank is a good first step. Examples:

http://www.bot.or.th...ControlLaw.aspx

http://www.bangkokba...unds%20new.aspx

For banks like BBL, once you set it up once on internet banking, it's easier next time. All sorts of valid reasons to transfer out. Just maintain the paperwork

Thanks, I won't be working in Thailand, but heard I should keep my investing account and day-to-day living bank account separate.

Well, I hope my overseas salary bank book is enough in future as source of seed investing funds.