Getting Money Out Of The Country

[welovesundaysatspace]

I worked for a multinational but my salary was paid through the Thai office on my local Kasikorn bank account. Now I have, depending on outstanding payments (severance, etc.), up to 3,000,000 THB on that account, which I would like to get to my German bank account since I don't plan to stay here forever.

What is the best (i.e. cheapest) way to get money out of the country? I.e. without paying ridicously high fees etc. The other way round, I did never have any issues because I was able to use my bank's VISA card without paying any fees. Even the THB 150 fee from the Thai banks were always reimbursed.

[monty]

Did the multinational employ you within Thailand, i.e. with work permit and taxes paid?

If so, you should have no problem repatriating those funds.

If you worked offshore, but were paid within Thailand you should have paid taxes on this income (as they were transferred into Thailand within the same year as you earned them).

In that case you should also be able to repatriate the funds, might need a chat with the bank manager as to why no work permit, but should be able to do.

If no taxes paid in Thailand, it will be pretty hard to get a bank transfer to overseas for any substantial amount!

[welovesundaysatspace]

Did the multinational employ you within Thailand, i.e. with work permit and taxes paid?

Yes. I was employed by the local entity (a Ltd. setup under the Amity Treaty), have a valid work permit, and parts of my salary were kept for tax.

If so, you should have no problem repatriating those funds.

Would that be a normal foreign bank transfer where usually pretty high transfer fees are charged?

[Naam]

Did the multinational employ you within Thailand, i.e. with work permit and taxes paid?

Yes. I was employed by the local entity (a Ltd. setup under the Amity Treaty), have a valid work permit, and parts of my salary were kept for tax.

If so, you should have no problem repatriating those funds.

Would that be a normal foreign bank transfer where usually pretty high transfer fees are charged?

who told you about pretty high transfer fees?

[HullyGully]

I was recently told by Bangkok Bank you could transfer approx 1.4m Baht outside of the country every 3months and you do not need to prove the source of the money.

If you have prrof of income and / or proof you orginal sent funds to Thailand you can transfer a lot more.

I guess and average SWIFT transfer is 40USD per transaction

[gennisis]

Deposed Dictators simply put it in a suitcase and fly out,apparently quite popular in Thailand !

[sotsira]

I recently transferred 1M bt from Bangkok Bank to my overseas a/c and the transfer fee was only 400bt

[tombkk]

You can transfer as much as your income per year as "salary repatriation" to your own account abroad. The maximum amount under this regulation is equivalent to the income you paid income tax for.

So, if you paid income tax on your salary and the severance pay, there is no problem. You might have to fill in an extra form for the Bank of Thailand, since the amount is over 1 million Baht.

The telegraphic transfer will be cheaper than the loss of exchange rate if you intend to carry the money in cash (which is legal if you declare it correctly, but of course very risky).

[al007]

buy gold and take it with you

aloo7

[John 1]

buy gold and take it with you

aloo7

So you suggest carry 60oz of gold? you would do that???

[Soutpeel]

buy gold and take it with you

aloo7

So you suggest carry 60oz of gold? you would do that???

If he wants to be stopped by customs for a little chat....yes

suspect the poster has been watching too many movies...

the OP earned money in Thailand legally, and can prove it so has absolutely no problem shifting the money out the country via a bank and doesnt have to resort to smugglng gold or putting uncut diamonds up his bottom to get his cash out

Edited August 5, 2012 by Soutpeel