Moving money out of Thailand

For the past 11 years I have been working offshore in various countries but residing in Thailand. I have a built a home here in Phuket and also have invested in various projects on the island.

Should I wish to sell all and move back to my home country, will there be any problem transferring all my monies out of Thailand? What are the laws regarding this?

  • Asked on Tuesday, November 30, 2004 | 10:52 AM
    Lamsai, Kathu.

If you want to quit the businesses you have invested in, you should inform the PBDO by filling in a form available from our office.

Then you must make a public declaration – by advertising at least twice in a newspaper – of the income of the companies you are involved in, and any debts that must be cleared.

This process should take around one month, after which, if everything is in order, you should be free to end your investments.

To discuss a specific case in private, contact the PBDO at tel: 076-217406.

  • Answered on Tuesday, November 30, 2004 | 10:52 AM
    Yongyoth Kasetsunthon, the Director of Phuket Provincial Business Development Office (PBDO).

If you want to transfer money out of Thailand, you must take your bank account documents, together with your passport and work permit (if you have one) to your bank for checking, before the transfer can be arranged.

Anyone wishing to transfer more than US$20,000 out of Thailand must first inform the Bank of Thailand, using a form available from the bank where the account is held.

If you want to remove more than two million baht from your account, you must also inform the Anti Money-Laundering Office (AMLO), again by using a form available from your bank.

  • Answered on Tuesday, November 30, 2004 | 10:52 AM
    An adviser at the Bank of Asia.
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