Transferring money out of thailand

[longway]

What are the restrictions of transferring largish sums of money out of thailand through my thai bank account to another person's bank account abroad eg uk?

I know I need a letter showing where I obtained the money, but I don't know anything beyond that.

[beechguy]

Why don't you contact your bank?

[jacky54]

probably cause they don't speak English and would not know if they did!

[ldnguy]

You bank would be a better place to ask than on here.

[Time Traveller]

If you are not a company and not involved in Trade, then anything less than $1million in a single year is not considered largish unless you are buying foreign property then anything less than $10million is not considered largish. * (The limit the BoT has set on transfers)

If you are a foreigner, then you can transfer any amount provided you have supporting documents including evidence of the investment sale and the remittance into Thailand.

Edited June 28, 2015 by Time Traveller

[beechguy]

probably cause they don't speak English and would not know if they did!

Can't say that I've had that problem, and seems the logical place to start, since they are the ones(not TV members) that will approve the transfer.

[jaapfries]

Also know that there can not be any Int.Transfers on Saturdays or Sundays - and only up to 15:00 PM on the working days.

[chiang mai]

Just about all banks everywhere have some form of cutoff time for international transfers.

I transfer funds into and out of Thailand around half a dozen times (sometimes as many as twenty) each year based on exchange rate fluctuations and personal need. Each time I make a transfer I simply produce an inbound funds remittance receipt showing that the funds originated from overseas, the amount I am transferring out is noted on the receipt and deducted from the inbound amount leaving me a balance to use at a future date. My instructions are always agreed and accepted in English, what could be simpler.

[longway]

Thanks for the answers, I am not in Thailand currently so thought I would check here.

I suppose the question is better put like this: can income earned in thailand, providing I have the supporting documentation to show its origin, be transferred from a thai bank to a foreign bank?

It's not huge amounts, but could possibly be in the 6 figure range, but it would exceed inward remittances.

[longway]

Thanks for the answers, I am not in Thailand currently so thought I would check here.

I suppose the question is better put like this: can income earned in thailand, providing I have the supporting documentation to show its origin, be transferred from a thai bank to a foreign bank?

It's not huge amounts, but could possibly be in the 6 figure range, but it would exceed inward remittances.

[longway]

Thanks for the answers, I am not in Thailand currently so thought I would check here.

I suppose the question is better put like this: can income earned in thailand, providing I have the supporting documentation to show its origin, be transferred from a thai bank to a foreign bank?

It's not huge amounts, but could possibly be in the 6 figure range, but it would exceed inward remittances.

[BudRight]

Every bank (SCB, Kasikorn) I've at which I've ever tried this has always asked to see my passport, passed it around the bank for everyone to look at; the clerk, the manager, the cleaner, the security guard and the back to me. Then they say "impossible."

When these threads appear here, most people recount experiences similar to mine but there's always one guy who posts "It's easy, I do it all the time!" but never tells the rest of us how this magic is accomplished.

The simplest way is to purchase your own currency at Super Rich and physically bring the money with you back home. That's if it's 6 figures in baht. If it's six figures in dollars good luck I have no idea.

[chiang mai]

Thanks for the answers, I am not in Thailand currently so thought I would check here.

I suppose the question is better put like this: can income earned in thailand, providing I have the supporting documentation to show its origin, be transferred from a thai bank to a foreign bank?

It's not huge amounts, but could possibly be in the 6 figure range, but it would exceed inward remittances.

No, because the interest does not represent imported funds that need to be exported, the only way you could export the interest is to pay tax on it via a Thai tax return first. The same rule applies to profit on the sale of property, it needs to be taxed before it can be exported.