Cash to Thailand

[Speakeasy]

Hi William
How much cash can you bring into Thailand and what's the best way to deal with it to buy condo etc?
Thanks

[William]

purchase of a condo is exempt under the current currency rules. Depending on what stage you are at in the purchase, best thing to do is (a) send the money directly to the developer/seller, or (b) send the money to an account of yours in Thailand and then transfer the money into the developer/seller's account on completion day.

With option (b) make sure you get the paper-work to show that the money is being imported in order to purchase a condo, otherwise you may come under the 30% rule. As it is, local banks seem to be taking an ad hoc approach to this rule, rather than a uniform standard approach.

Assuming you have no problems with this, there should be no limit on the amount you import. However, if you think you may have a problem, you need to keep your transactions below $20,000 (i.e. $19,999 or less).

[Anonymous Coward]

We've been discussing this with the Bangkok Bank here in Korat. Everyone we've asked has said that as long as you're bringing in the money to purchase real property, you're OK; no proof or documentation required.

However, it is wise to remember that TIT and what was said yesterday may not be the same as what is said today and probably will not be the same as what is actually done tomorrow.

[William]

^but don't you need to have the paper-work to show that the money is being imported for the purchase of real property (which, in this case, also includes condos)?

The issue of what, if any, paper-work is needed not only seems to vary from bank to bank, but branch to branch

[Anonymous Coward]

We've asked at two different Bangkok Bank branches and we asked one of the Bangkok Bank officials who appeared at the "Money Expo" at The Mall (Korat) this weekend. They all said that no documentation was required. All we had to do was tell them when the deposit was made.

However, when we make the deposit we will have the house purchase agreement on hand just in case tomorrow's rules are different from today's.

[William]

^weird, but believable. So why doesn't everyone just say they're buying property (or one of the other exemptions).

TiT

[Anonymous Coward]

^Exactly. It makes no sense whatsoever.

[Speakeasy]

Thanks guys but I am asking about cash, and how much can one bring in, in foreign currency. Thanks

[dirtydog]

As much as you want but you have to declare it if it is over 10,000 quid I believe.

[William]

so, when you say "cash", you me physical money. If so, I think the limits are those set by your own government, e.g. the US, not Thailand. In the case of the US, I think it used to be $50,000 but this may have changed.

FF and AC were discussing this issue a month or so back, I'l try and find the link.

[blackgang]

They told me on inspection leaving the US and entering mexico that the limit was $10,000..