Transfer funds to Europe from Thailand

[april81]

Hi, i live here in Thailand and plan to sell my condo in Bangkok. When i’ll find a buyer and get the money (around 1.8 million) how i’ll do to transfer the funds to Europe ? Simply with an international transfer by asking to my bank in Thailand. No taxe ?

Thanks a lot

[april81]

noboby knows ?

[Naam]

you can't transfer it officially without paying capital gains tax (if you made a profit).

[april81]

Thanks Naam, how to do please ? Just go to my bank ?

[Naam]

Thanks Naam, how to do please ? Just go to my bank ?

it's not that easy. you need proof that you don't have any tax liabilities. if i'm not mistaken the land office will issue a relevant document.

[april81]

Thanks again Naam, i will ask

[chiang mai]

Perhaps a slightly more helpful answer!

When you sell your condo you'll need to visit the Land Office to complete the transaction and to transfer the title to the new owner, before doing that you are required to pay tax on the sale. The blue receipt that you receive showing tax paid shows a baht figure, give that receipt to your bank and you will be allowed to transfer money overseas equal to that amount.

Problems arise when they don't collect the blue receipt and/or understate the value of the sale in an attempt to avoid tax, invariably that leaves a difference between the blue receipt amount and the amount of cash actually received. Regardless, as long as you still have the FET (Foreign Exchange Transaction form) or similar showing that funds were originally brought into Thailand from overseas, the amount shown on the FET (or similar) can be exported easily.

I can't speak to the capital gains issue but I suspect that's a red herring.

[april81]

That's the answer i was waiting for ! Thanks Chiang Mai