How much money can I transfer to my account in Thailand?

[kurnell]

Somebody told me the limit was $10,000 for a foreigner. My wife also said that a Thai can transfer $25,000 to their Thai account from abroad without the tax man getting involved so does anyone have any experience?

[kingalfred]

Transfer pretty much what you want.may have to tell bank what it's for

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[kurnell]

Transfer pretty much what you want.may have to tell bank what it's for

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You've bought a substantial amount in before?

[kingalfred]

Yes you can read other threads on this in banking forum

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[Pib]

There's no taxman involved on the Thailand end...send all you want. Now I can't speak to what you home country bank/home country laws say about outbound money and reporting funds in foreign bank accounts...that's a home country issue...like for U.S. citizens where your are taxed on your worldwide income/dividends/etc. Maybe the wife is thinking around a decade ago when Thailand implemented some tough capital controls for a short while for BIG, BIG amounts of money coming into the country for stock market/bond type investments....but these brief controls didn't affect amounts being sent over to buy a home/condo, day-to-day living money, etc.

Now if you plan to take the money out of Thailand at a later date you will need to get a Foreign Exchange Transfer (FET) form from the receiving bank...some still refer to this form as a Thor Tor 3 form. Thai banks must issue one for amounts exceeding 50K USD, but below that it's optional/upon request...and some banks may issue automatically at a lower amount....I think I've seen some ThaiVisa posts where it occurred at $20K USD....but that's a good thing for the person sending the money. Of course how individual banks enforce the FET requirement will vary...about 6 years ago when I sent around $215K USD in one SWIFT transfer to Bangkok Bank they didn't issue me a form...and it posted to my account no problem....no questions asked....and before that I had sent a smaller transfer of around $25K USD with the same results....a few weeks later I went to the bank to ask/get the form issued when/if I sell the home in the future and want to expatriate the money.

Summary: Thailand Land of Smiles for incoming money (i.e., easy, send all you want): Thailand Land of Frowns for outgoing money (i.e., can get hard without the proper documentation)

[SantiSuk]

Bring in more than $50,000 and your bank may want you to complete a Bank of Thailand foreign exchange transaction form. No reason to be scared of that*, unless you are bringing it in for nefarious purposes (in which event I suspect you would be happy obfuscating the truth on the form anyway ). The form does little more than record your name and address, reason for the incoming transfer and the exchange rate the bank gave you. It's certainly standard practice with Krungsri bank.

I've done it twice - on the second occasion 3 months ago stating "investment in Thailand" as a reason for the incoming transfer was no longer good enough - bank was happy when I added "investment in Thai equities". The loonies then hot the fan on the political front so I have not used the money at all for that or any other purpose - if it all goes $hit-faced I'll be exercising the reverse flow PDQ

* Indeed quite to the contrary. Keep a copy of the form and you would be able to re-export your cash with no further questions asked (I was told by my Krungsri 'relationship manager')

Edit: Sorry Pib - should have read your reply first as I have done no more than echo your response.

Edited November 25, 2013 by SantiSuk

[thrilled]

The only problem that I see if you are A us citizen,IRS will want tax money if you make money from that money

[mgjackson69]

The only problem that I see if you are A us citizen,IRS will want tax money if you make money from that money

That is not a problem, as relates to transferring money.

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[Torrens54]

We've brought in substantial amounts to buy a business (which was a bad move) to buy a house, to renovate said house and just for general living.

Never had a "please explain" from the Taxman/woman. This has been the case over quite a number of years, so I don't think you'll have any trouble.

[TommyUK1960]

I transferred 1,500,000 bhat strait into K'bank account from the UK. all I got was a phone call from K'Bank asking what it was for.

[kurnell]

Transfer done. Should arrive next week.