Its my money - And I can do what I want with it...Nope not according to the Bank

[Krataiboy]

Citibank Global transfer. Not an issue.

Because it's not a Thai bank.

[mimithewoof]

BJ - 'The point I am stressing to get across, that there are high risks involved to the aged ex-pats who are literally letting strangers have access to their finances on face value and this leaves them vulnerable and in danger of being scammed, robbed or exploited by the unscrupulous, the deceitful, con men and women and evil people that are out there who could infiltrate these groups posing as genuine carers with good intentions or even whole groups of con people could go into operation in the guises of volunteer care organisations, and this is why I strongly believe that all such groups or organisations as these must be registered and officially recognised as bona fide outfits.'

Beetlejuice, I've been here for close on eight years now, and seen all I want to see as regards the expat community here and its petty squabbles - which is why I confine my visits to town to around once a month and avoid all social occasions including expat clubs like the plague - and it's also why I find your comments on LCN totally unacceptable.

I've no idea what inspired your attack on Lanna Care Net's integrity, but do known that, even in CM, there are expats whose desire to help those less fortunate are totally genuine. As regards LCN's authenticity, the involvement of both the UK and US consuls speaks for itself, especially as the majority of consulates in expat destinations across the world are infamous for their inability to be of much practical help to older expats in trouble - a problem mainly caused by the UK and US government's restrictions on what they can actually do.

There was a desperate need for such an organisation long before its inception three years ago and I, for one, am happy to know it exists and is successful in its operation. Kudos to those members spending time to assist the less fortunate, and even more kudos to NancyL for being so restrained in her replies to your posts!

[uptheos]

Yes, BJ, we'd love for you to come to Steering Team meetings to help us brainstorm ideas as to how we could better address the concerns you raise. Currently we do screen members, require two half-day training sessions before anyone is in a position to assist an elderly person with shopping or other errands and frankly, the number of people in our organization who do tasks where they ask our clients for reimbursement of expenses (like running errands) is fairly small and all those people are very well established in the expat community.

They're simply not the sort of people who are going to run off and fail to pay some elderly person's electric bill and pocket the funds for themselves (for example).

Also, if you're aware of any mechanism by which a foreigner can be declared incompetent and incapable of handling his affairs and having a guardian (preferably another foreigner) appointed by a Thai court to handle that foreigner's affairs -- we'd love to learn about that mechanism. We're aware of several elderly expats in Chiang Mai who don't seem to have any family in their home countries and are living in situations very dangerous to themselves (and they appear to be incapable of making informed decisions about their welfare). Were they in their home countries, the local authorities could be involved and ultimately a court-appointed guardian would be named, but that's the the case in Thailand.

So, BJ, an internet forum is a poor place to air your concerns. Yes, the concerns you have are valid and we've explored them within our Steering Team. But we'd welcome a fresh perspective -- from a skeptic. Perhaps it's time to make a contribution beyond throwing a few stones on an anonymous forum.

Where and when are your steering meetings, I presume they are open?

Do you need advance notice of registration?

Sounds like you're doing good work.

[johnnyk]

Enough of the Lanna Care sandbox spat, the thread is about banks and falang money.

[EyesWideOpen]

Not sure why people keep talking about needing a work permit to transfer funds

out of Thailand. You simply go online and transfer directly to your outside bank.

Not sure about the upper limit but I am pretty sure it is high...

I did walk into a bank and ask about doing a single large wire transaction out.

and I was told it had to fit certain criteria, one of them being supporting a child

attending school abroad. Clearly that was meant for wealthy Thais.......

Interesting about Lanna Care. The potential for abuse would have to be huge.

In America with a lot of laws in place to protect older impaired people from losing their

money, they still are the victims of unscrupulous crooks... Cannot imagine what

could go on here...

[NancyL]

Please send me a PM or consult the website www.LannaCareNet.com if you'd like more information about getting involved.

I agree -- the thread is about transferring funds out of Thailand and I appreciate some of the good information that's been shared on this thread.

[Beetlejuice]

Yes, BJ, we'd love for you to come to Steering Team meetings to help us brainstorm ideas as to how we could better address the concerns you raise. Currently we do screen members, require two half-day training sessions before anyone is in a position to assist an elderly person with shopping or other errands and frankly, the number of people in our organization who do tasks where they ask our clients for reimbursement of expenses (like running errands) is fairly small and all those people are very well established in the expat community.

They're simply not the sort of people who are going to run off and fail to pay some elderly person's electric bill and pocket the funds for themselves (for example).

Also, if you're aware of any mechanism by which a foreigner can be declared incompetent and incapable of handling his affairs and having a guardian (preferably another foreigner) appointed by a Thai court to handle that foreigner's affairs -- we'd love to learn about that mechanism. We're aware of several elderly expats in Chiang Mai who don't seem to have any family in their home countries and are living in situations very dangerous to themselves (and they appear to be incapable of making informed decisions about their welfare). Were they in their home countries, the local authorities could be involved and ultimately a court-appointed guardian would be named, but that's the the case in Thailand.

So, BJ, an internet forum is a poor place to air your concerns. Yes, the concerns you have are valid and we've explored them within our Steering Team. But we'd welcome a fresh perspective -- from a skeptic. Perhaps it's time to make a contribution beyond throwing a few stones on an anonymous forum.

An Internet forum and the public domain is a great place to air some concerns, considering it is you who brought up the subject first on this open forum. Why should you be annoyed at having to share the activities of your group completely out in the open?

I am not a sceptic, but rather just questioning the way in which your group is run. I have already made my contributions by bringing some facts to your attention and hoping that you will at least take some of my comments into consideration, rather than trying to sway some opinions that I am doing this for the sake of an argument with deliberate intentions to cast doubts upon your group, which I am not by any means.

I am fully aware of the mechanisms here that can work against ex-pats and also realise that these can place limitations on how groups like yours operate, but in my opinion, for what it`s worth, I believe that voluntary unregistered so-called carers should never become involved with the financial matters of those they are helping for the thousand reasons I have already mentioned, not under any circumstances.

As for any more contributions, it is up to you to convince those who may have concerns or doubts regarding your groups involvement with vulnerable ex-pats and get your own house in order, including being able to listen to some advice and take some criticism when it`s justified, if you don`t consider yourself above that? If you do not consider these concerns as being justified , then you will just have to continue on if you think that everything your group is doing is completely on the right track?

[wym]

BJ you're just repeating yourself now.

I personally do agree that there should be an effective regime of regulation of such activities. As I already mentioned, that is of course not possible in Thailand.

You then propose the solution to be that such assistance simply be unavailable?

That sounds to me like the government trying to take away millions of guns at large - only the law-abiding citizens would obey, the criminals continue on as they've always done.

Fact is (as I said before) there are thousands of elderly expats here without people back home they can trust, without the means to employ professionals etc.

Which now that I think about it - there is no effective regulation of lawyers and accountants here either.

By your logic then lawyers and accountants should not be allowed to operate either.

Let's face is the need is there and better to be satisfied by well-intentioned do-gooders, overseen by the consulate staff will just have to be good enough, supplemented by caring ad-hoc watchdogs such as yourself if you want to get involved.

And I agree with the others, I think this sub-topic's pretty much run its course.

[xenophon]

very good discussion. I suspected that doing this would be a hassle, so had a bank check issued in foreign currency payable to myself and sent the check by snail mail to my home account. NO problems and legal, I think (hope).

[laolover88]

Wife, once, wanted a mortgage. Income mostly from UK. Thai national, plenty of funds; Chanoot as collateral, every pieceof paper..you could think of...Thai and UK tax returns,ID, house papers, business accounts and other UK income,

Thai Bank accounts and UK business and personal bank books/statements over several years. Guarantee from father,

who bloody (excuse my French) worked for KBank!. Bangkok Bank and K Bank in Chiang Mai both said NO.

Reason? Read my lips.... "Not Thai Money"....She has had trouble with both Tisco and Kiatnakin on this account, too!

We live here, but, now, keep no more £ in Thailand than we need. OK it costs, but better than trying to get your

own money back!!

[leosuntime]

Wife, once, wanted a mortgage. Income mostly from UK. Thai national, plenty of funds; Chanoot as collateral, every pieceof paper..you could think of...Thai and UK tax returns,ID, house papers, business accounts and other UK income,

Thai Bank accounts and UK business and personal bank books/statements over several years. Guarantee from father,

who bloody (excuse my French) worked for KBank!. Bangkok Bank and K Bank in Chiang Mai both said NO.

Reason? Read my lips.... "Not Thai Money"....She has had trouble with both Tisco and Kiatnakin on this account, too!

We live here, but, now, keep no more £ in Thailand than we need. OK it costs, but better than trying to get your

own money back!!

im guessing you wanted to buy a house in the UK and live of the rental returns minus interest repayments

what a brilliant idea, lets all do that, it just makes me wonder but... arent bond yeild coming off 40 year lows.

banks are already knocking at the knees when people want to withdraw money.

it would make sense that some banks are worrying about interest rate rises

and its not like most people are borrowing money to create a product that every one is gonna eat up.

[mania]

It goes without saying that would be no problem as when money is brought in for real estate purchases it is earmarked as such.

But if you bring in 11 mil baht for a purchase & are fortunate enough to

have timed a good boom then sell for 20 mil baht it is the 9 mil profit

that some say is the problem to repatriate & again goes back to the 97-98 crisis.

Using that example, the 9 million would be taxable and thereafter the balance can be repatriated.

Hope you don't mind I fixed the broken quote in your post

I was just wondering if you have tested what you have said?

Reason I ask is I am curious regarding our own condo here & the future possibility of selling as

we bought way back in 96 so a profit is quite likely.

But recently this exact question was put to Sunbelt Asia Legal regrading the proceeds of a foreign owned condo & this is what they said

You can agree to have the funds either transferred to a Thai bank account or to an offshore bank account. However, please be aware that if your buyer is also a foreigner he or she will need to provide the Foreign Exchange Transaction Form showing that the purchasing funds were transferred in from overseas for the specific purpose of purchasing your condo.

To transfer the funds out of Thailand you will need to provide supporting documents including the Official Sale & Purchase Agreement (issued by the Land Office) and the FET you obtained when you transferred the money in to purchase the condo in the first place. The amount you transfer out will need to match the amount on the Official Sale and Purchase Agreement issued at the Land Office.

I underlined the part I am referring to

So they seem to be saying the same in regards any proceeds still needing to match original FET

These guys are kind of well known for helping foreigners with "work arounds" so if they say this I am

thinking it may not be just a matter of paying taxes.

Thanks for any actual experience you may provide to shed light on this question

as it looks like a possible problem for us in the future.

Edited March 9, 2014 by mania

[paz]

Citibank Global transfer. Not an issue.

What are you on about ?!?

[wym]

It goes without saying that would be no problem as when money is brought in for real estate purchases it is earmarked as such.

But if you bring in 11 mil baht for a purchase & are fortunate enough to

have timed a good boom then sell for 20 mil baht it is the 9 mil profit

that some say is the problem to repatriate & again goes back to the 97-98 crisis.

Using that example, the 9 million would be taxable and thereafter the balance can be repatriated.

Hope you don't mind I fixed the broken quote in your post

I was just wondering if you have tested what you have said?

Reason I ask is I am curious regarding our own condo here & the future possibility of selling as

we bought way back in 96 so a profit is quite likely.

But recently this exact question was put to Sunbelt Asia Legal regrading the proceeds of a foreign owned condo & this is what they said

You can agree to have the funds either transferred to a Thai bank account or to an offshore bank account. However, please be aware that if your buyer is also a foreigner he or she will need to provide the Foreign Exchange Transaction Form showing that the purchasing funds were transferred in from overseas for the specific purpose of purchasing your condo.

To transfer the funds out of Thailand you will need to provide supporting documents including the Official Sale & Purchase Agreement (issued by the Land Office) and the FET you obtained when you transferred the money in to purchase the condo in the first place. The amount you transfer out will need to match the amount on the Official Sale and Purchase Agreement issued at the Land Office.

I underlined the part I am referring to

So they seem to be saying the same in regards any proceeds still needing to match original FET

These guys are kind of well known for helping foreigners with "work arounds" so if they say this I am

thinking it may not be just a matter of paying taxes.

Thanks for any actual experience you may provide to shed light on this question

as it looks like a possible problem for us in the future.

I believe the underlined phrase in question refers to the new not the original transaction amount.

IOW you're required to declare the real amount, not under-value in order ot avoid the taxes.

[mania]

I believe the underlined phrase in question refers to the new not the original transaction amount.

IOW you're required to declare the real amount, not under-value in order ot avoid the taxes.

Thank you that is something I never thought of but makes perfect sense.

Thanks