buffalo_bill Posted June 17, 2008 Report Share Posted June 17, 2008 Gentlemen , a bit off topic but I may take the chance as some experts seem to be around . To avoid any risk involved about falangs without workpermit opening accounts : let's say you trust a Thai citizen to open an account for you and you can withdraw funds on her :smirk: behalf by preparing the paperwork accordingly , would the bank ask any questions if larger amounts of money are transferred from abroad and withdrawn in cash ?( Baht of course ) BuBi Link to comment Share on other sites More sharing options...
Hardy641 Posted June 17, 2008 Report Share Posted June 17, 2008 A foreign exchange transaction form from the BOT is required for every transaction above 20K USD. Under 20K USD the BOT doesn't need to be informed; only the reason for the transfer should be chosen wisely in order to avoid TAX issues. To my knowledge payments from relatives are not subject to TAX. Another suitable reason would be â??loan repaymentâ??. Link to comment Share on other sites More sharing options...
buffalo_bill Posted June 17, 2008 Report Share Posted June 17, 2008 Thank you for your advice although I just spit my coffe over the table when I read " Loan repayment " . The idea of Nok granting me a loan of 20.000 US is absolutely great. Link to comment Share on other sites More sharing options...
dullnight Posted June 17, 2008 Report Share Posted June 17, 2008 BB I ve used a thai bank account for years without any work permit without a single problem. Also going to the counter and withdrawing several milions at the time wasn't an issue (just need to make it as multiple of a withdrawal below 2Mil each) . i'd stopped using it for a while but have started again lately without a single issue either, although people got nervous recently wityh the 20 000USD TT limit, which still doesn't affect withdrawals or deposits. If your concern is about not leaving tracks or not beeing in LOS when you need to do large withdrawals than you might indeed look into using your GF, but otherwise there's no special headache to use a bank account here as a tourist, and also to get a debit card IME. As of the idea of most farangs marrying in LOS respectable or well off spheres... ROFLMAO!! Link to comment Share on other sites More sharing options...
dullnight Posted June 17, 2008 Report Share Posted June 17, 2008 BTW, the people I know bothered by the new 20000$ limit above which the bank needs to inform the BOT are people doing business locally (and actually locals) who have been used to receive on their personnal accounts the fruits of undeclared and untaxed commercial sales, which was possible thanks to amazing Tax regulations and enforcement in LOS. I wonder if there's any issue transfering any amount in Thailand as a foreigner and reply when asked the purpose of the incoming TT :investment. Does the bank ask any document? Again they don't care where it comes from if you bring a large check or quite possibly cash, nor when you withdraw the funds. Link to comment Share on other sites More sharing options...
dullnight Posted June 17, 2008 Report Share Posted June 17, 2008 Note as well that if you need to transfer say 100KUS$ and don't want to be bothered with the forms, doing 6 wires the same day each of them below 20K$ should work just fine. It has actually been quite confusing for us to folllow the transfers sent to Thailand over the last few months as they were mostly so fractionned. Link to comment Share on other sites More sharing options...
Hardy641 Posted June 17, 2008 Report Share Posted June 17, 2008 Well as I said before it is a risk you are taking. Like living near a volcano that did not erupted for a long time. Unlikely he will but you never know. Some people donâ??t care others donâ??t. The 20K USD limit is for transfers into and out of Thailand only. Locally you can withdraw up to 2 million THB a day. ATM is 200K THB. Link to comment Share on other sites More sharing options...
buffalo_bill Posted June 17, 2008 Report Share Posted June 17, 2008 Thank you again hardy and dullnight. I previously used my exultralongtimegirlfriend's account to make her pay Thai suppliers by local transfers after I have sent her the money . This was til 3 years ago and nobody did ever ask for anything. Times are changing though . On a sidenote : how can anybody do serious business in a country where you do have regulations but nobody cares or suddenly starts to care , you don't know who issued them and when and if they are still actice and for whom ? I have completely ceased business with Thai suppliers because each order caused a unique heart-attack . Nobody has ever heard about something like customer care , warranty claims , business ethics . This is a pay , disappear and forget economy , I like it that way but only for vacation . Nok is different because she lub me long time . Great ethics , galantee evrythin . BuBi Link to comment Share on other sites More sharing options...
Central Scrutinizer Posted June 17, 2008 Report Share Posted June 17, 2008 Where? Well, if I could no longer stay here on my marriage Imm O multiple entry visa, I'd move to Malaysia. Easy visa rules, close to Thailand, fairly inexpensive cost of living, can own house and land, same weather really, good food, and, if I was single, easy enough to get P4P. It is there. You just need to know where, who, how, and seek it out. It is there just not out in the open. It ain't BKK, Pattaya, for sure. But it would be easy enough if you are into it and willing to pay. Cheaper gasoline too, and some decent cars available being built there too. VN I hear is much more difficult, expensive, and the cost of flying from there to BKK is much higher than from Malaysia. Burma has no real infrastructure and a government I would not want to deal with nor trust. Laos is still communist and too restrictive under those fools. Singapore is too expensive. Indonesia is too overtly Muslim and tourists/wwesterners are a target. The Malays are muslim, but there is a large amount of other races living there. (I know someone who lives there who hates the government there, but it still looks like the best deal for a farang in the area.) Canbodia would be a possible choice. Cheap enough, lots of P4P, beaches, etc. But the corruption there is even worse than Thailand I hear. But, you can get long term visas there and I believe own land and a house of your own. Business is possible there as well, although how bad the corruption affects that I don't know. I'd have to ask a friend who is living there and doing business there. But he seems to have little problem living there. So Malaysia or Cambodia look like the best of the choices in my opinion. If only Thailand would smarten up and do a transparent visa/retirement program like Malaysia. If only. Cent Link to comment Share on other sites More sharing options...
.. Posted June 17, 2008 Report Share Posted June 17, 2008 Gadflyâ??s point with bank accounts is absolutely valid. It is a legal requirement (2003/2004) to have a valid VISA and work permit to open a bank account. Of course this is Thailand and one branch might follow the rule while the next just doesnâ??t care. As was pointed out, a WP is NOT required, and was only required for a short period of time in 2003/2004. Look at the BBL website: http://www.bangkokbank.com/Bangkok+Bank/Personal+Banking/Foreign+Customers/Frequently+Asked+Questions.htm#3 http://www.bangkokbank.com/Bangkok+Bank/Personal+Banking/Foreign+Customers/Frequently+Asked+Questions.htm#11 You want a home loan? BBL says they do it: http://www.bangkokbank.com/Bangkok+Bank/Personal+Banking/Foreign+Customers/Frequently+Asked+Questions.htm#8 Why would they bother putting this info up if it were not correct? If not, it would just cause more confrontation and hassle which Thais are prone to avoid. It seems that you are another one of those guys that just like to bitch about shit based upon rumours. You should mellow out and find the facts first. You'll live a longer and happier life. Regards, SD Link to comment Share on other sites More sharing options...
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