Thai national taking money out

[JackRyan]

My wife and I are now living in Australia. We have a daughter between us and my wife has permanent residence

It looks like we may have sold our house in Bangkok which is completely in my wife's name. The money for the house was transferred into Thailand by myself.

Are Thais able to send money out of the country easily or as I suspect are there many hoops to jump through.

Has anyone had experience in this area?

Any help is greatly appreciated

Cheers

Greg

[maccaroni man]

You will get two deducts one when you convert the funds from baht to Australian dollars and a small wire fee from the bank. The only real issue is the bank on your end will report the large transfer to the govt which may or may not create a red flag follow up.

[bigwilly]

JackRyan.

I had the same thing several years ago, my wife was able to transfer out of Thailand by the Bangkok Bank AUD 200,000.00, I found a loophole where a Thai can send his or her money out of the kingdom to another Country (in our case Australia)so long as that person has been granted residency in another country, we had to show either a PR Stamp in wifes Thai Passport or proof of Australian Citizenship, as I recall, the limit is up to 1 Million USD, the local Bank said they had never heard of this method, I asked them to call Bankok and the head office said it was lawful, and they transferred the money right away, funds had to be in wifes account not joint. Just did the conversion to AUD in the branch and sent it to her Account in Oz in AUD.

There were no tax implications in Australia.

Good luck BW.

[bigwilly]

http://www.bot.or.th/English/ForeignExchangeRegulations/FXRegulation/Pages/ExchangeControlLaw.aspx

JackRyan.

Parragraph C. Transfers for other purposes.

Found it try the link above. BW

[JackRyan]

Thanks guys for your help.

Sounds like it should simple enough.

I'll open an account in her name so she will just be sending it to herself.

Again thank you for taking the time to respond

Cheers

Greg