Sending 15Million Baht Back To Uk

[longballlarry]

With the exchange rate , surely this would be a good time to do this ( from property sale ) . In your experience what would be the best way to do it , Straight transfer into UK account or into an offshore account. Ive been here 10yrs and I'm thinking about going home for a few years, investing some money in property, ( 300k) get the kids UK schooling, and coming back later in a few years to re-invest here. ( Maybe the pound will be stronger in say 10 yrs !! ). I'm only 40, still working, so not a pipe dream.

Any ideas about transfers and - or UK/international banks/interest rates welcome. Any comments about UK sh!te, etc.... heard it before, dont bother -.thanks.

Cheers .

LB

[PattayaPhom]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

[longballlarry]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

Yes I have that, half of it transferred here from UK , the rest is wages over the last few years, paid in every month from Dubai. I just wondered if anyone knew of a better rate when transferring, or if there were any hiden Thai hurdles to jump.I hope it will be that easy.

[mccw]

I think if you wait a little there will most probably be another downturn in the property market and also further drop of the £. That would be the best time to get in. South east, Brighton and London especially are same or more expensive now than pre "financial crises" peak.

With in the next year or so I expect.

I'm invested in Brighton rental properties so its not as if I'm wishing for a crash; I just think it is unfortunately high % chance.

[longballlarry]

I think if you wait a little there will most probably be another downturn in the property market and also further drop of the £. That would be the best time to get in. South east, Brighton and London especially are same or more expensive now than pre "financial crises" peak.

With in the next year or so I expect.

I'm invested in Brighton rental properties so its not as if I'm wishing for a crash; I just think it is unfortunately high % chance.

Good point. I will be looking at the SE, and probably will buy this time next year, sit on it for a year first, and have a good look around. As long as no trouble sending it back, and the tax man doesnt want his share for money earnt when not in the UK ( Only spent around 3 months there in 10 years ) .

[sas_cars]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

Yes I have that, half of it transferred here from UK , the rest is wages over the last few years, paid in every month from Dubai. I just wondered if anyone knew of a better rate when transferring, or if there were any hiden Thai hurdles to jump.I hope it will be that easy.

You can only transfer your wages which were earned in Thailand and you could prove them from your salary documents and work permit. I guess you will have a hard time wiring your Dubai earned wages from Thailand if you don't have a work permit.

As far as exchange rate is concerned, all top Thai banks are fine, usually you can negotiate rates with them if transferring big amount.

[mccw]

Incase you have extra cash to what was earned in or previously brought in to thailand then no problem If your wife is Thai then she can send it as "family support" or similar.

[yoshiwara]

First of all I would not transfer any significant amount of money back to the UK without consulting a UK-based accountant.

[mccw]

First of all I would not transfer any significant amount of money back to the UK without consulting a UK-based accountant.

He's not spent more than "3 month in 10 years" there; so he will not be liable for income from overseas during this time.

Other topics have done this subject to death and all the info can be read at HMRC website after a few clicks.

90 days a year is standard and its a little grey area if they decide to try press enforcement in case you've maintained a permanent address despite spending less days, but very rare cases like this.

[Daffy D]

Just hope the UK banks don't follow the banks on Cyprus example and take up to10% from all customers savings to ease the national dept crisis.

[stiggy]

Been trying to move cash back lately, a royal pain in the butt.

Anything over 20k US needs central bank approval,under 20 k no real problem

We had the internal transfer papers etc from when we brought money in to the kingdom, however still a pain meeting lot of cannot type replies from the Thai banks.

We found the best and easiest way apart from the 19k transfers, has been simply spread money over several accounts, and draw out from 4 EU ATMS at 400 sterling per time from each account

Combining both shouldn't take to long .

As for Uk back here now for a bit, cold shitty weather but everything else is fine and refreshing after 15 years in LOS. I'd say most things petrol and taxes aside are cheaper/comparable to Thailand for a western lifestyle.

We also put our money offshore for now, talking with accountants about investing here and tax implications for bringing back cash to Uk for property.Looking at rental investments near the proposed super port in essex

[VocalNeal]

Do you need all the money for the UK. I would fly to HK and open a bank account. Say HSBC. Whatever currency you want. You can access money in the UK. When you come back it will still be in HK?

[hourlay]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

what 's the name of this document , please ?

[hourlay]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

Yes I have that, half of it transferred here from UK , the rest is wages over the last few years, paid in every month from Dubai. I just wondered if anyone knew of a better rate when transferring, or if there were any hiden Thai hurdles to jump.I hope it will be that easy.

if you are sue to come back... Lot's of people let a Thai real estate agency take care of renting their goods for years...

[breadbin]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

Yes I have that, half of it transferred here from UK , the rest is wages over the last few years, paid in every month from Dubai. I just wondered if anyone knew of a better rate when transferring, or if there were any hiden Thai hurdles to jump.I hope it will be that easy.

if you are sue to come back... Lot's of people let a Thai real estate agency take care of renting their goods for years...

Yeah, alright mate because the are sp few properties available to rent it'll push rental prices up!!!

I say to the op, do what you feel is best, I sold my place in Thai, we still have cash in Thai bank. We own our house in UK and have enough in savings in UK also not desperate to have our cash here. I had it put in a 4 month fixed account so it earns something and ill make a decision but would like to get 43bt then I'll transfer. May work or may not. I live in UK and had my Thai place rented for 5 years so have made a good amount. Made on land, made on exchange rate when house built 68thb, made on sales price and made now on low exchange rate. All in all happy but would NEVER build/buy in Thai again!

Good luck mate, where in South East you gonna be?

[mccw]

Just thought I'd mention that there is a very nice primary school in Brighton, that I sent my kids to, called the Dhama School.

Brighton is a good place for rental investment as well. High demand and prices but get more for your money than London. Around 8% is easily achievable with the right selection today. With the leverage of a mortage that works out even better obviously.

With your 300k you could get 2 or 3 for rent and one to live in. 1 rental would cover mortgage on the home house; leave the other two making you a good income - maybe 10-20k £ py.

[KHR1010]

Open a multi currency HSBC account in Hong Kong transfer the Baht in to the account and hold it in Baht until you see a good For-Ex opportunity. Use this account in the future when you want to bring money back into the region, I would not hold significant money in a Thai bank....significant meaning more than you are willing to lose or do without while sorting-out a messy situation.

[longballlarry]

If you have the documents when you trsnsffered herr then just swift it back, What other way is there?

Yes I have that, half of it transferred here from UK , the rest is wages over the last few years, paid in every month from Dubai. I just wondered if anyone knew of a better rate when transferring, or if there were any hiden Thai hurdles to jump.I hope it will be that easy.

if you are sue to come back... Lot's of people let a Thai real estate agency take care of renting their goods for years...

Yeah, alright mate because the are sp few properties available to rent it'll push rental prices up!!!

I say to the op, do what you feel is best, I sold my place in Thai, we still have cash in Thai bank. We own our house in UK and have enough in savings in UK also not desperate to have our cash here. I had it put in a 4 month fixed account so it earns something and ill make a decision but would like to get 43bt then I'll transfer. May work or may not. I live in UK and had my Thai place rented for 5 years so have made a good amount. Made on land, made on exchange rate when house built 68thb, made on sales price and made now on low exchange rate. All in all happy but would NEVER build/buy in Thai again!

Good luck mate, where in South East you gonna be?

Thanks for all the replies. Clearly lots of options, so glad I asked. To answer your question, I will hopefuly be returning to near home, near friends and family in West Kent. Some good schools there too. Not sure about Brighton area, dont know it that well, but thanks for the info.

2 Questions here. I have money in a Ayutaya Bank, could I draw on that from the UK using my ATM ? EU ATM's, never heard of them before ?!? Also, the HSBC in Hong Kong sounds a good option. Do you actually have to fly there to open an account, or an it be done online ? Either way, I might have to start spreading money over a few accounts soon. Cheers all again.

LB

[hourlay]

Hi Breadbin,

I'm in pattaya and nobody can say that there are a few properties...100 building are under construction.

But on a long term basis , I think that Bath will not be weaker than European currencies...

In Europe ( Belgian ,France, ..) if your renter doesn't pay , not easy to get the rent.

Nothing is trustable anymore even gold...

E.G. Tomorrow Barclays bank may bankrupt.

That's why a split solution is ideal. But I didn't have bought much here in Thai.