Bringing money in for the condo? And keeping money in EUR

[expatsupreme]

Is it easy to bring the money in Thailand with Airplane? I need it for condo and I do not want to do a transfer through bank.

Any idea?

Also is there a bank in Thailand, where you can keep your money in original currency like EUR? And not converting it to Thai Baht?

[Langsuan Man]

If you don't transfer the money using a bank then you will not be able to obtain a "legal" Foreign Exchange Certificate which would allow you to transfer the funds out of Thailand at a later date

Yes, you can open a foreign currency account in Thailand but most report that the fees for using that type of account is quite expensive

[robertthebruce]

Fortunately I bought my condo from a Swedish guy, and he wanted Kroners, so I did the transfer like that.

Also I took a wad in with me when I flew over here to Thailand, nobody asked any questions...maybe just my luck.

All the best

[falang07]

you were lucky since if found and not declared, you would be arrested and the money would be seized by customs

[falang07]

also, no matter if the Swedish guy wanted Kroners or any other currency than THB, to buy a condo, you must convert to THB in the first place

[stoli]

Yes, you can go to a bank such a Bangkok Bank and open an FCD (Foreign Currency Deposit). It will stay in whatever foreign currency you send. I believe they charged me a .25% fee for this. You can exchange it to baht without a fee. If you want to take it out as a foreign currency they will charge you a 1% fee.

Not sure that this was really a good move on my part. Only if you think the exchange rate will be more favorable for you in the future, and you want to have to option to convert when you want to. It is a guessing game.

[KittenKong]

Fortunately I bought my condo from a Swedish guy, and he wanted Kroners, so I did the transfer like that.

And what did you do about the FET certificate (formerly known as a TT3)? Or were you not buying in farang name?

Also I took a wad in with me when I flew over here to Thailand, nobody asked any questions...maybe just my luck.

Technically on arrival you should declare cash over a certain amount (USD10,000 if I remember correctly). Given that there are no penalties or taxes or other problems with importing any amount of cash into Thailand I see little reason not to declare it, unless perhaps you worry about being mugged by the customs officer's brother-in-law when leaving the airport. Also declaring it on arrival allows you to export it again later, if you have any of it left when you leave.

Importing large amounts of cash without declaring it is dodgy because if you happen to be searched they can confiscate it. OK, not very likely but it would be really annoying if it happened.

[expatsupreme]

Fortunately I bought my condo from a Swedish guy, and he wanted Kroners, so I did the transfer like that.

And what did you do about the FET certificate (formerly known as a TT3)? Or were you not buying in farang name?

Also I took a wad in with me when I flew over here to Thailand, nobody asked any questions...maybe just my luck.

Technically on arrival you should declare cash over a certain amount (USD10,000 if I remember correctly). Given that there are no penalties or taxes or other problems with importing any amount of cash into Thailand I see little reason not to declare it, unless perhaps you worry about being mugged by the customs officer's brother-in-law when leaving the airport. Also declaring it on arrival allows you to export it again later, if you have any of it left when you leave.

Importing large amounts of cash without declaring it is dodgy because if you happen to be searched they can confiscate it. OK, not very likely but it would be really annoying if it happened.

So if you declare it at the airport you can buy a condo with it, right? It is not necessary to do a transfer right?

[Naam]

Fortunately I bought my condo from a Swedish guy, and he wanted Kroners, so I did the transfer like that.

And what did you do about the FET certificate (formerly known as a TT3)? Or were you not buying in farang name?

Also I took a wad in with me when I flew over here to Thailand, nobody asked any questions...maybe just my luck.

Technically on arrival you should declare cash over a certain amount (USD10,000 if I remember correctly). Given that there are no penalties or taxes or other problems with importing any amount of cash into Thailand I see little reason not to declare it, unless perhaps you worry about being mugged by the customs officer's brother-in-law when leaving the airport. Also declaring it on arrival allows you to export it again later, if you have any of it left when you leave.

Importing large amounts of cash without declaring it is dodgy because if you happen to be searched they can confiscate it. OK, not very likely but it would be really annoying if it happened.

it's >20,000 Dollars when a declaration is mandatory. there is also no restriction taking any amount of foreign currency out of the country if bought with Baht and presenting a bank confirmation that these Baht were transferred as forex to Thailand.

not all banks issue that confirmation letter but Siam Commercial does.

[falang07]

you can bring it in cash but you will have to exchange to Thai Baht anyway so it makes little sense

[KittenKong]

So if you declare it at the airport you can buy a condo with it, right? It is not necessary to do a transfer right?

I dont know if they would accept the customs declaration of cash as proof that the money was imported. Logic suggests that they should, but of course logic doesn't always apply here.

Either way I suspect that you would still need to exchange it to Baht to get the FET form, or find some helpful go-between who could "facilitate" the issue of the FET.

[KittenKong]

it's >20,000 Dollars when a declaration is mandatory. there is also no restriction taking any amount of foreign currency out of the country if bought with Baht and presenting a bank confirmation that these Baht were transferred as forex to Thailand.

Indeed. I didn't mean to imply that the only way of exporting cash is to have a custom's declaration of it being imported as cash.

Thanks for correcting the amount.

[Naam]

it's >20,000 Dollars when a declaration is mandatory. there is also no restriction taking any amount of foreign currency out of the country if bought with Baht and presenting a bank confirmation that these Baht were transferred as forex to Thailand.

Indeed. I didn't mean to imply that the only way of exporting cash is to have a custom's declaration of it being imported as cash.

Thanks for correcting the amount.

a customs declaration "forex in" is not required if your bank confirms that the money was transferred as forex from abroad.

[KittenKong]

I didn't mean to imply that the only way of exporting cash is to have a custom's declaration of it being imported as cash.

a customs declaration "forex in" is not required if your bank confirms that the money was transferred as forex from abroad.

That's what I said.

[expatsupreme]

What is forex in?

I still did not get an answer???

Can you declare cash at airport and buy condo with it, or you need to do transfer only??

[KittenKong]

What is forex in?

FOReign EXchange. ie money in a currency other than your own.

INcoming.

Can you declare cash at airport and buy condo with it, or you need to do transfer only??

You would need to ask your bank whether they will deliver an FET form based on you depositing and exchanging imported foreign cash that comes with a declaration form from customs. If they will you are OK as the Land Office just wants to see the FET form.

Given that banks do accept cash deposits into currency accounts (albeit with a handling fee), it seems likely to me that the combination of cash + declaration would be acceptable for issuing an FET form. But you need to have it confirmed by a bank.

[Naam]

I didn't mean to imply that the only way of exporting cash is to have a custom's declaration of it being imported as cash.

a customs declaration "forex in" is not required if your bank confirms that the money was transferred as forex from abroad.

That's what I said.

sorry, you said "customs declaration" which means importing cash on arrival.

[KittenKong]

I didn't mean to imply that the only way of exporting cash is to have a custom's declaration of it being imported as cash.

a customs declaration "forex in" is not required if your bank confirms that the money was transferred as forex from abroad.

That's what I said.

sorry, you said "customs declaration" which means importing cash on arrival.

Indeed. But at no point did I say that having a custom's declaration showing the original import is the only way of exporting cash. It is one way of doing it, and it is the only way to export cash that was imported as cash which is the topic of the thread.