Selling A Condo

[hkb]

If I sell a Condo at profit can I use the proceeds to buy another condo?

Can I take the proceeds out of the country?

Edited January 12, 2006 by hkb

[ThaiPauly]

Point one: If you are using the proceeds to purchase another Condo then what money would you want to take out of the country.

Point 2. Change the baht into the currency of your choice and put it in your hand luggage....Off you go!!

Don't take it out of the country in baht!!

[mbkudu]

Point 2. Change the baht into the currency of your choice and put it in your hand luggage....Off you go!!

Don't take it out of the country in baht!!

Excellent tip! $US 50,000 fits much more snugly in a suitcase than Baht 2,000,000.

[chucky66]

Are you allowed to take that much money out of Thailand in your hand luggage (foreign money or thai baht)? I thought there were restrictions on that kind of thing?

[spacebass]

Are you allowed to take that much money out of Thailand in your hand luggage (foreign money or thai baht)? I thought there were restrictions on that kind of thing?

I believe that the maximum you can take out of the country without declaring it in cash is US$10,000, you may have to prove you brought it in in the first place or this may only apply to sums over $10,000 that you must declare and so prove.

If you break the law the money can be confiscated so get sure or lucky!

For Thai Pauly, the reason he has to take it out is so that when he buys the new condo he buys it with money originating from outside Thailand and can put it in his name, otherwise no can do! TiT!

Have a look at Siam Commercial bank website, has good English and looks easy to have foreign currency account and to export money with it though you have to keep quite a big balance.

www.scb.co.th

Edited January 17, 2006 by spacebass

[astral]

Excellent tip! $US 50,000 fits much more snugly in a suitcase than Baht 2,000,000.

With all the money laundering legislation you will have trouble trying to bank $50,000 in cash

and if you do all sorts of alarm bells will start ringing.