Sending Money Offshore

[Misty]

Can anyone tell me what are the regulations for sending salary and bonus earned offshore? Where can I find details on the actual regulations?

While the Bank of Thailand website lists exchange regulations, it doesn't cover this particular topic. (Or at least not in English).

In the past--when I had a work permit--I did not have problems remitting earnings offshore. However, I'm not currently working.

I've maintained fairly meticulous records of previous salary & bonuses earned, tax filings, and copies of work permits. However, the banks don't seem to deal kindly with those without work permits, so I'd like to be as prepared as possible.

Many thanks for any help,

Misty

Edited April 7, 2006 by Misty

[Misty]

anyone?

[andreasbkk]

Sending money offshore is sending offshore. Salary, bonus or what ever, you just have to explain the reason in a form to your bank every time.

[Misty]

Thanks Andreas. This process went way beyond filling out a simple form. The bank wanted copies of many different documents--every work permit I've held in Thailand, every tax form I've filed. And the staff nearly flipped when I said I'd be back next week to make a much bigger transfer. Still would be nice to know what exactly the BoT regulations are on this--and what documents are REALLY required (as the bank in question couldn't answer this).

Cheers

[naka]

(as the bank in question couldn't answer this).

Couldn't, Or did not want to ?

Naka.

[cclub75]

Thanks Andreas. This process went way beyond filling out a simple form. The bank wanted copies of many different documents--every work permit I've held in Thailand, every tax form I've filed. And the staff nearly flipped when I said I'd be back next week to make a much bigger transfer. Still would be nice to know what exactly the BoT regulations are on this--and what documents are REALLY required (as the bank in question couldn't answer this).

From my experience : Thai Military Bank asks to fill in a special form for transferts larger than 20 000 USD (on this document you have to write the "purpose" of the transfert).

No other documents are required.

But once again, we all know that the amount of papers required can vary regarding the bank, the branch and of course the mood of the guy in charge...

This is why the golden rule is : always say "no" first when they speak to you about whatever "regulations". And then open discussions/negociations. Afterall the subject is cash. And it's easy to move the cash to another thai bank if you are not pleased.

[The Skipper]

"(as the bank in question couldn't answer this)."

Sounds like Bangkok Bank, Sukhumvit. Real jerks at the wire transfer desk.

[warriors]

"(as the bank in question couldn't answer this)."

Sounds like Bangkok Bank, Sukhumvit. Real jerks at the wire transfer desk.

Correct wanke--