Transferring money out of Thailand

Last activity 05 June 2018 by oneleggedmonkey

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oneleggedmonkeyNew member22 May 2018 23:54:55

My Brother has lived in Thailand for about 15 years and knowing that I planning to retire to Chang Mai keeps me updated on important changes in Govt Policy.

I thought that this forum would be interested to know
"Hi Bro.
A thai friend of mine just sent me a message.
It seems the Thai government have changed money transfer rules for foreigners. If you bring money into the country you can not transfer it out unless you have a current work permit.
All the rules have changed it seems last year.
If you have a WP you can transfer money to overseas.
''If you are retired the money you have is termed as being for living expenses so you can't tranfer it out until you get a WP which you can't get if you are retired.''

Another reason to only have a minimum amount in a Thai bank.

yogananda1893Member05 June 2018 05:49:31

This is very unsettling, if it is true?
This means if own a condo, you can take the proceeds back home after selling.
We do not have a thai partner?
please comment

oneleggedmonkeyNew member05 June 2018 07:28:16

Hi

I shall ask my brother to clarify if he can.

His Thai friend refers to money brought into the Country? So I do not know if that means money resulting from a sale of property in Thailand cannot be transferred out.

I understand that it does mean that I could not sell my home in Australia and deposit the proceeds into a Thai Bank account and then try to move the money back to Australia.

My brother is advising me to keep capital off shore and to just have an everyday living account with a Thai Bank.

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