How much money can I transfer without it being impounded
How much money can I transfer without it being impounded
I've been looking in vain for the recent thread about the Thai Authorities impounding 30% of money transferred in to Thailand for one year. Can't find it anywhere.
My reason for looking is that I seem to remember reading that if you transferred money in units of less than 10,000 Pounds at a time, the new legislation did not apply. Could somebody please confirm this?
If my previous statement is correct, does anybody know the frequency that you can transfer amounts of say 9,950 Pounds without incurring the 30% penalty for 12 months?
Would it make any difference to the frequency if for example I transferred 7,500 Pounds per week for 5 weeks, but immediately moved the money to another account as it was received in Thailand?
My reason for looking is that I seem to remember reading that if you transferred money in units of less than 10,000 Pounds at a time, the new legislation did not apply. Could somebody please confirm this?
If my previous statement is correct, does anybody know the frequency that you can transfer amounts of say 9,950 Pounds without incurring the 30% penalty for 12 months?
Would it make any difference to the frequency if for example I transferred 7,500 Pounds per week for 5 weeks, but immediately moved the money to another account as it was received in Thailand?
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Points 48; Position 20
Points 48; Position 20
Have a look at these links. Must admit a lot of it goes over the top of my head. Good luck:
http://www.bot.or.th/fipcs/Documents/FO ... 490114.pdf
http://www.bot.or.th/bothomepage/Genera ... n5249e.htm
http://www.bot.or.th/fipcs/Documents/FO ... 490114.pdf
http://www.bot.or.th/bothomepage/Genera ... n5249e.htm
[I am planning to transfer 900,000 BHT from UK bank to Bank in Thailand. AM I then better to make 2 transfers?]. It depends on what the 900,000 is for. If it is towards the purchase of land or a condominium, a business or shares in a listed company, then there is no need to split the transfer. If however, if you are so lucky that this is your drinking money so to speak, then yes split the transaction.[/quote]
bringing in with traveler's cheques
I've transferred money before from an offshore bank and had the bank mark "for house purchase" on it so I can re-patriate the money if I sell up.
My understanding is that the "house purchase" notation was for sums in excess of 20K US$.
I now need to bring in a bit less than that to buy my furniture and kitchen. I thought I might bring traveler's cheques as my home gov't wants to know all about me if I transfer 10K$ or more from a CDN bank.
Anybody know if I bring in TCs will Kasikorn Bank give me the paper noting the money is for house purposes?
Any info is gratefully appreciated. Thanks.
My understanding is that the "house purchase" notation was for sums in excess of 20K US$.
I now need to bring in a bit less than that to buy my furniture and kitchen. I thought I might bring traveler's cheques as my home gov't wants to know all about me if I transfer 10K$ or more from a CDN bank.
Anybody know if I bring in TCs will Kasikorn Bank give me the paper noting the money is for house purposes?
Any info is gratefully appreciated. Thanks.
Re: bringing in with traveler's cheques
I very much doubt it Johnnyk. You would probably be better off doing it in two TT transfers, the better exchange rate will just about cover the additional costs involved, and you will then have a record of the funds being transferred in from overseas.johnnyk wrote: Anybody know if I bring in TCs will Kasikorn Bank give me the paper noting the money is for house purposes?
Any info is gratefully appreciated. Thanks.
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