Repatriating Capital From Thailand

[cyberholz]

Hi, I hear different things about how to get your money out of Thailand - and my bank, Kasikornbank, doesn't seem to know the exact rules as well...

When selling a condo that has been paid with money sent to Thailand there shouldn't be too much of a problem, as the money is documented.

When buying a house under the name of your wife - and you sell the house and want to send the money out of the kingdom -, than can be tricky, or not?

A banker tells me the BOT has to OK the transfer, and the probably want to see a lawyers document.

So that may all cost.

Questions are, up to which amount can you send money out of Thailand without any questions asked?

And is it difficult for a Thai national to send several million baht out of the country?

Many thanks in advance for any feedback.

[miksguevara]

I've heard it's hard dont know the details just going on old threads on thaivisa, perhaps you could post this in the ask an expert section before every larry gives you their two cents?

[Postmaster]

I think you need a Tor Tor Sam (don't know exact spelling) which shows origination of funds. I have kept my original bank transfer copy 'invoices' when I sent my money from UK to buy my house in Jomtien Beach. Hope this helps.

[mccw]

Thai can send a mill or so each time no questions asked

[mccw]

Thai can send a mill or so each time no questions asked

(source is Bangkok bank telling my wife when she asked this question)

[Javabear]

I had my wife send about 12k USD about 4 years ago from her Kasikorn Bank account. No questions asked sending to the US.

[chiang mai]

Thai can send a mill or so each time no questions asked

Untrue, Thai's must meet certain requirements in order to send currency overseas, the list includes payment of school fees and support of a relative.

[chiang mai]

Farangs can wire/carry money overseas, up to USD 20k or it's equivelent without approval of the BOT, banks act as the BOT represntative in this respect.

The sales proceeds from property can be remitted overseas as long as the ammount sent is equal to or less than the amount shown on the blue reciept provided by the Land Office at the time of sale which shows the taxable value on which tax was paid - the reciept of incomming foriegn currency is irrelevant in this regard.

[PattayaParent]

Show the bank your work permit and it won't be a problem.

[cyberholz]

Thanks all - point is when she'd sell a house (that was paid with money from abroad) and wants to transfer the money out of the country. I heard to get BOT approval for a Thai is not too easy, as said you need a lawyer. So this is confirmed?

[flying]

Each time you transferred a decent amount into Thailand you should have gotten a FET

When transferring out as long as the amount going does not exceed the amounts on the FET's

it is not supposed to be a problem.

Perhaps Dave or Ian will chime in.

[ThailandInvestmentGuide]

_{This is according to the SCB web site - https://www.scbeasy....srv/srv_ftf.asp}

_{You can register and make international fund transfers via EASY NET for the following purposes;}

_{- Education (for Thai only)}

_{- Family Support (for Thai only)}

_{- Remittance of Savings (for foreigner only)}

_{- Remittance of fund belonging to Thai who is permanent resident aboard (for Thai only)}

_{Fund transfers will be allowed less than 20,000 US dollars / day only}

1. 
   

[mccw]

Thai can send a mill or so each time no questions asked

Untrue, Thai's must meet certain requirements in order to send currency overseas, the list includes payment of school fees and support of a relative.

Your right. I just check with her and she said no problem because we are family. Ie support of relative being our kids. When she first said "no problem" to me I took that as no questions asked.

[w11guy]

I think the problem may be that it was your money that came into the country but now it's your wife's money that you want to send back. Showing proof that you transferred funds to Thailand is irrelevant because you gave the money to your wife and it's now hers. I'd get lawyer to sort it out if your bank can't. Or change bank accounts to a bank that can get the transfer done.