davethailand Posted March 29, 2004 Share Posted March 29, 2004 Can anyone give any input or advice. I'm buying a house in a company name (my wife and myself) and the cash needed to buy it is being loaned to me from the uk by my father. A loan agreement between us and him is being set up here in thailand in case any thing happens to us and therefore the house proceeds will go to him. The agreement is i will pay him back in instalments and maybe the odd lump sum here and there, if not, its no problem as he comes here quite often and i can give him cash when he arrives. My question is - apart from moneygram etc is there a simple legal way i can transfer money to him every month. thanks dave Link to comment Share on other sites More sharing options...
wcr Posted March 29, 2004 Share Posted March 29, 2004 dave Try Pattaya City Expats Club. Many members, meet on a Sunday morning at Henry J Beans, start at 10.30am. This is the sort of questions they get answered. Motto is Expats helping Expats. You could email your question to [email protected], and they will ask the question for you and get back with an answer. Link to comment Share on other sites More sharing options...
fatter than harry Posted March 29, 2004 Share Posted March 29, 2004 Dave, I think what you have done is the only legal way to get money out of Thailand. When we set up our company a few years ago we looked at this with a top BKK lawyer and he reccomended we did what you're doing. Should be easy to do once its all legalized this end, I'm sure the Pattaya boys will be able to help. Link to comment Share on other sites More sharing options...
davethailand Posted March 29, 2004 Author Share Posted March 29, 2004 will look into it. thanks Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted March 29, 2004 Share Posted March 29, 2004 Can anyone give any input or advice.I'm buying a house in a company name (my wife and myself) and the cash needed to buy it is being loaned to me from the uk by my father. A loan agreement between us and him is being set up here in thailand in case any thing happens to us and therefore the house proceeds will go to him. The agreement is i will pay him back in instalments and maybe the odd lump sum here and there, if not, its no problem as he comes here quite often and i can give him cash when he arrives. My question is - apart from moneygram etc is there a simple legal way i can transfer money to him every month. thanks dave Give Dad a Thai ATM card and he can withdraw the money each month from the hole in the wall Link to comment Share on other sites More sharing options...
jayenram Posted April 2, 2004 Share Posted April 2, 2004 Give Dad a Thai ATM card and he can withdraw the money each month from the hole in the wall I wonder if my daughter would give me a UK ATM card so that I could draw money in Thailand from her account. Or am I being stupid? Link to comment Share on other sites More sharing options...
davethailand Posted April 2, 2004 Author Share Posted April 2, 2004 i still draw cash from my uk account by atm Link to comment Share on other sites More sharing options...
BigA Posted April 3, 2004 Share Posted April 3, 2004 Last year SCB where I have an acct and they know me, allowed me to send a 100,000 baht or so out country. There was a special form I needed to fill out. If I remember correctly it was verification that I was supporting family back home. Actually like you, I was paying on a loan and the money I had to pay with, was in this country. They were doing it to keep straight with their bank examiners I believe. Since I do not do it regularly, I don't know if repeated and regular remittances are OK. Supposedly Thailand has relaxed laws on the repatriation of funds, so maybe that is what I experienced! Link to comment Share on other sites More sharing options...
davethailand Posted April 3, 2004 Author Share Posted April 3, 2004 i've recently found out that i can send money whenever i want, you fill a form out in the bank stating what the moneys for and how you earned it (salary etc). also we have a guy in london who works for bangkok bank london and we are in the processes of getting an account set up in the uk. Link to comment Share on other sites More sharing options...
Up2U Posted April 9, 2004 Share Posted April 9, 2004 Although one poster has said that the laws of Thailand are 'relaxed' with regard to repatriation of funds, it is my experience that onee can only repatriate the amount you have clearly demonstrated that you have brought in to the country. Thus a company can remit it's capitalisation when wound up, an individual can remit the amount he can prove he has brought in to Thailand by bank transfer, whatever. But I doubt that anyone will have kept all their ATM receipts. I am looking further into the company remittance process at the moment - will try to expand on this at a later date. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now