Foreign Exchange

Overview

Exchange Control Regulations, Bank of Thailand
Exchange Control, eThailand
Bank of Thailand
eThailand

Personal Fund Transfer

For foreigners in transit, there is no limit on the amount of foreign currency that can be brought into and taken out of Thailand.  There is also no restriction on the amount of Thai baht that can be brought into Thailand, however, BOT approval is required for taking more than 50,000 baht out of Thailand per trip, and 500,000 baht per trip to neighbouring countries such as Vietnam.

For residents, there is no limit on the amount of foreign currency that can be brought into Thailand, however, the foreign currency must converted into Thai baht, or deposited in a foreign currency deposit account with a commercial bank within 7 days from the date of arrival. Commercial banks are able to sell foreign currency subject to certain limitations, and are charged by the Bank of Thailand to examine reasons for purchase of foreign currency.

Exchange Controls on Trading

Imports   
Commercial banks can approve payments for imports, where importers can make payments by foreign currency withdrawal from their own foreign currency deposit accounts at commercial banks, or buying foreign currency from commercial banks in an amount not exceeding the value of imports.  As such, commercial banks will require appropriate documents including invoices, bills of collection, import permits and other documents as appropriate.

Exports   
Exports are not subject to foreign exchange restrictions, however, export proceeds greater than a certain limit must be obtained within 120 days, and deposited in a foreign currency account or converted into Thai baht at a commercial within 15 days from date of receipt.

Investment Funds

Thailand allows remittance of funds into Thailand for investment and foreign loans, however, funds must be converted into Thai baht, or deposited in a foreign currency deposit account with a commercial bank within 7 days from the date of remittance.

Repatriation of investment funds outside Thailand including profits, dividends, and loan repayments, can be made freely through commercial banks with the relevant documents.  For amounts of US$20,000 or more, a foreign exchange transaction form must be submitted to the commercial bank for approval; and certain cases may require BOT approval which can be obtain through the commercial bank.
Securities, promissory notes, and bills of exchange can be sent outside Thailand with no restrictions.

Exchange Control for Promoted Businesses

Under the Investment Promotion Act, foreign investments in promoted industries benefit from various incentives and privileges.  These incentives and privileges also include guarantees on repatriation of profits, dividends, interest, and imported capital.  Investment in promoted business activities can be granted permission to remit foreign currency with regards to the return of capital and payments following loan contracts and other contracts.