Getting Money Out Of Thailand ?

[pmugghc]

I've seen a fair amount of discussion on how to get money in to Thailand, how to buy condos etc. But what are the rules of getting money out of Thailand ? Somone said you need the Tor Dor 3 (sp ?), others that it's easy, just transfer in the bank. So do you need the Tor Dor 3 (Foreign Exhange cert) ? What happens if you've made a profit on your condo or whatever you brought the money in for, how do you get out maybe 2-3 times that you brought in ?

Thanks, Roland

[jimbbc]

I think the theory is you can transfer out the same amount you transfered in, that's why you need the tor tor 3. If you have any profit left over you'll have to carry it out on your person, either that or give it to your girlfriend java script:emoticon(':whistling:', 'smid_18')

I haven't done this but I sure hope it works.

[sierra01]

4 years ago it was easy, just go to the bank, go through the long winded paperwork, pay your 600bt fee and it's done. Maybe it's all changed now, back then it was no problem. I think that if it's over a certain amount it attracts Govt interest, to do with money laundering I think.

[SamuiRes]

I've seen a fair amount of discussion on how to get money in to Thailand, how to buy condos etc. But what are the rules of getting money out of Thailand ? Somone said you need the Tor Dor 3 (sp ?), others that it's easy, just transfer in the bank. So do you need the Tor Dor 3 (Foreign Exhange cert) ? What happens if you've made a profit on your condo or whatever you brought the money in for, how do you get out maybe 2-3 times that you brought in ?

Thanks, Roland

The TD3 allows you to transfer the same amount out without any problem. Any profit you make on a sale is taxable and provided you pay the tax and can show the tax receipts the balance can be repatriated.

Taking the money out in cash is risky as there is a limit to how much you can take out in Thai Baht and if you are caught at the Airport you will probably lose the lot. Converting large sums to foreign currency at the bank can also attract interest from the Bank.

Do things legitimately and you will not have a problem. Try to avoid paying tax where it is due and you deserve all you get (or rather lose). This may be a national passtime, but it does not make it right.

[spacebass]

I am told that the best exchange rate is obtained at usually Chinese operated Gold Shops who are not bothered about how much you change, it is very odd that the Thai system makes life apparently very difficult and when one is driven to various means of operating within it you are suddenly a money launderer!

And I believe the maximum cash amount you can export is US$10,000.

[rishi]

... So do you need the Tor Dor 3 (Foreign Exhange cert) ? ...

Sorry for my ignorance with respect to this TD3. I have already remitted a few money into Thailand and are going to remit more in the near future.

Where, how, when do one get such a TD3. Is it too late to get one for money already brought into Thailand (by means of a wire transfer, properly marked as originating from abroad in my passbook) ?

[astral]

And I believe the maximum cash amount you can export is US$10,000.

True BUT,

you can take out more if you declared it on entry,

or it is travellers cheques purchased in Thailand.

Another option is friend in Thailand who needs baht and will sell you foreign currency overseas.

Edited January 17, 2006 by astral

[suegha]

Please help me get this straight in my head. I'll round up amounts for the example.

Say I buy a house for 2,000,000 baht, and keep it 3 years and than sell it for 3,000,000 baht. I understand that as I have the docs for 2,000,000, I can take this out with me no problem. The 1,000,000 is therefore profit. How much tax would I expect to pay? Is it a flat rate, or dependant on factors?

Sorry if this sounds very simple but I am not a finacial person.

Edited January 17, 2006 by suegha

[astral]

I don't think there is any Capital Gains Tax on personally owned property.

There is, if you own through a company!!

The land tax will come when you sell the condo and is not based on what you sell it for,

but rather on what the Land Office guy thinks it is worth at the time.

It is usual for the seller to foot the tax bill.

[Upcountry]

I'm getting ready to wire a large sum from a US bank to my Thai bank account, despite the terrible current exchange rate. Most likely, I'll spend it here, but here's my question.

How do I get a "tor tor 3" to apply to this wire transfer?

If I were to make the transfer via an "out of bank" transfer from my US bank to Bangkok Bank NY, assuming it's cheaper and my bank finally allows it, I wonder how I'd get/apply a "tor tor 3" to that.

Maybe they can be had at the Thai bank and filed there?

Note - realizing that this might be better posted as a new topic, I did so:

http://www.thaivisa.com/forum/index.php?showtopic=58861

You can find it at the link above.

Edited February 1, 2006 by Upcountry