Extracting money from Thailand

[pdmorris71]

I have recently sold a villa and the broker company have banked the sale money. They inform me now that the Thai banks will not allow the transfer of the sale rice to my uU.K. account.

Any ideas?

[sanemax]

Get an ATM card for the Thai account and withdraw the money in the UK with that card

[electric]

Hi pdmorris71 .... check out Bangkok Bank FAQ "International transfers out of Thailand"

 

According to Bangkok Bank it's perfectly ok to do this, and they specifically refer to your situation ie. proceeds from sale of condo.

 

Just need some official docs relating to the sale of your villa.

 

Hope it works out ok for you. Cheers

Edited December 24, 2016 by electric

[wpcoe]

Might depend on the amount of the transfer, but when I sold a condo last month Bangkok Bank wired (SWIFT) transferred the proceeds to my USA brokerage account and the fund were there within 24 hours.

 

About a year ago I was transferring funds out of Thailand without having a condo sale as the source and I was quietly advised by a bank officer to do multiple transfers under B1.4m several weeks apart to stay "under the radar."  I think (but not 100% sure I recall correctly) that transfers under B1.5m don't require the documentation nor attract the scrutiny of the bank's head office, and I think she recommended under B1.4m "just to be safe."

[blackcab]

37 minutes ago, wpcoe said:

Might depend on the amount of the transfer, but when I sold a condo last month Bangkok Bank wired (SWIFT) transferred the proceeds to my USA brokerage account and the fund were there within 24 hours.

 

About a year ago I was transferring funds out of Thailand without having a condo sale as the source and I was quietly advised by a bank officer to do multiple transfers under B1.4m several weeks apart to stay "under the radar."  I think (but not 100% sure I recall correctly) that transfers under B1.5m don't require the documentation nor attract the scrutiny of the bank's head office, and I think she recommended under B1.4m "just to be safe."

 

It's anything under the equivalent of USD 50,000.

[SGD]

This argument has always baffled me as I have never had to do it but what happens if you make a profit ?

 

You bring in the money with Tor Tor Sam paperwork, say Bt5m. My understanding is that this allows you to take out the Bt5m again easily. But what if you sell it for Bt10m ?

 

Are you taxed on the Bt5m profit and as you only have a TT3 for the original Bt5m, does this cause a problem ?

[wpcoe]

As I understand it, the only tax would be applied at the Land Office based on their assessment of the value of the property.  I also think you can export the full B10m (to use your example) if you have a receipt from the Land Office verifying that amount.

[Misplaced]

 
It's anything under the equivalent of USD 50,000.

Believe that number is for Transferring money into Thailand from the US banks. Anything beyond the 50,000 will be reported


Sent from my iPhone using Thaivisa Connect

[blackcab]

2 hours ago, Misplaced said:

Believe that number is for Transferring money into Thailand from the US banks. Anything beyond the 50,000 will be reported


Sent from my iPhone using Thaivisa Connect

 

You can transfer any amount of foreign currency into Thailand. All amounts are reported to the Bank of Thailand, although smaller amounts will be reported in summary form.

 

If you have Thai baht (from earnings or the sale of a property, for example) and you want to purchase foreign currency and remit it out of the country, then anything over USD 50,000 requires more paperwork.

 

Section VI here:

 

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

[bigwilly]

Hi. 

You can simply come to Thailand, withdraw as much as you like in cash, change the Thai Baht into Pounds or other foreign currency at a licenced money changer carry the Foreign currency back home with you, just declare to Customs at the airport Bangkok you are carrying in excess of the equvelant of $20,000 USD, Fill in the declaration form x 2, no other paperwork required, better rate than the banks, just declare it on entry to the UK. If its clean money you have nothing to fear.

Report is made at Customs desk 4th floor Suvanabhumi.

Ive done it several times not a problem.

Big Willy.