thai money

[allstar88]

a friend of mine who is thai with a thai and british passport,married to a brit has been left some land by her father and she wants to sell it and bring the money to england(about 30 thousand english pound sterling) .is this allowed,will she be taxed in thailand and uk,is there limit on how much money can leave los,and enter uk,and what is the best way to transfer the money to the uk?

[stogie bear]

There is no limit on the amount of Thai currency which can be brought into Thailand, but only 50,000.00 Baht may be taken out without obtaining a permit... If the amount of money brought into the Kingdom in notes and coins is over 2 million Thai Baht then you will need to report this to AMLO (Anti-Money Laundering Office). A form will need to be completed and submitted to them. As a result they may instigate an investigation.

Thai currency can be taken out to neighboring countries, e.g. Myanmar, Laos, Cambodia, Malaysia, and Vietnam, up to 500,000.00 Baht, without obtaining a permit.

Taking out an amount of Thai currency exceeding 50,000.00 Baht requires a permit from an authorized bank. The original permit (Thor-Tor 5) must be shown to the Customs officer while passing through the outbound passenger channel. There is no restriction on both bringing in and taking out foreign currency.

As for tax issues... I don't know, but I can't imagine you would be taxedon unearned income in the UK...

[mardhi]

The resrictions apply to THAI BAHT only - in theory she could change 2,000,000b at a B-De-Change at the airport into Sterling and take it into England. However as its over 10,000US$ she get loads of questions why she is carrying that much, not to mention the fact that the change place probably will not have enough sterling.

Probably easiest to go and buy sterling travellers cheques at the Amex office in Bangkok and take it over that way. If u do it as a Bank transfer you will have to get Bank Of Thailand approval, which is cumbersome but not impossible.

Tax issues are a whole different ball game and frankly no idea I am afraid.

Cheers
Mardhi

[moe666]

Sale the house and transfer the money out one trip at a time. Has anyone been stopped coming or going and asked how much money you have.
Unless you are on someones watch list why would you be. But as in all things slightly shady you take a chance.