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Reader question: Cancellation of visa bill when leaving Thailand

By Submitted Message
Posted in Reader question
Tags: ,
July 31, 2017

Dear readers,

This week there was a question on the Thailand blog about exchanging Thai money for Dutch money. This usually involves not too large amounts. Exchange offices often bring the outcome. But now a question to readers of Thailand blog: When I leave Thailand permanently and do not return for the first few years, can I also close my visa account (bank account with the visa amount of 800.000 baht!)? To take the equivalent value in cash in euros is quite something. Exchanging private money in Thailand is not an option! Need a lot of bank paper and statements from bank / customs. (max. export and/or import 10.000 Euro).

Is there a possibility to transfer the equivalent of the Thai baht or other Asian currency to my ING account in the Netherlands at any bank? Of course preferably against the most favorable conditions, transfer time and costs.

If this possibility exists, please read the findings / advice of Thailandblog readers.

Thank you very much.

Regards,

Wim

Number of times read: 174

26 responses to “Reader question: Cancellation of visa bill when leaving Thailand”

  1. Fontok says up
    31 July 2017 on 10: 51

    You can still simply perform a SWIFT transaction in Euros through your Thai bank from your baht account to your account at the ING bank. Or am I missing something now? Costs you about 25 euros. You can only do the best if the exchange rate is favourable. So little Baht for 1 euro…. The lower the baht rate, the more euros you get.

  2. Nico B says up
    31 July 2017 on 11: 02

    At the Bangkok Bank you can use a separate form to transfer Euros to your account at ING in the Netherlands. You can have the Thai Bath debited from your account or you can withdraw it. You then buy the Euros and they are transferred to ING using that form.
    The rate is the daily rate and comparable to the rate you have to pay to buy Euros cash from the bank with Thai Bath.
    Advice, book an amount slightly below 1 million per day and do so with an interval of 1 day.
    You can also withdraw your Thai Bath in Euros by debiting your Thai account in the Netherlands, the exchange rate is then less favourable.
    Success.
    Nico B

  3. eugene says up
    31 July 2017 on 11: 22

    If you transferred that money from an account in your home country to your account in Thailand at the time, or you brought the cash with you and declared it upon entering Thailand, you will be able to exchange it and bring it back to Europe. If the amount is high, you declare it again on departure and arrival.

  4. it is says up
    31 July 2017 on 11: 24

    I think you have to be able to prove that the money is also legal
    Thailand has been brought in.

    At least that was the case with acquaintances who had sold their house in Thailand
    and wanted to transfer the money
    to their Dutch bank account. It turned out to be no problem.

    • Nico B says up
      31 July 2017 on 12: 18

      In a transaction as mentioned in my response, nothing was requested by the Bangkok Bank regarding. how the money got to Thailand, the amount then exceeded 800.000 Thai Bath, hence the advice in that case to do as I said. I have not investigated how that is at other banks.
      Come to mind Loe tav. the 30 year lease that could no longer be done according to my lawyer's message. I gave a warning about that on Thailandblog. Your advice was find another lawyer, I did not follow.
      This week, that topic came up in a response from another reader, who indicated that the Supreme Court has ruled “secured lease” illegal.
      Again, I advise anyone who intends to do so to be very well informed before entering into another 30-year lease.
      Nico B

      • it is says up
        31 July 2017 on 12: 56

        Then I will have to go to another Supreme Court with my 30 year lease
        Otherwise just start a company in my old age. 🙂

        • Nico B says up
          31 July 2017 on 13: 37

          Contrary to what is often claimed, having a Company is still possible under certain conditions and is then not illegal, it would lead too far to go into it here now. Thailand has 1 Supreme Court.
          Nico B

      • ruud says up
        31 July 2017 on 15: 37

        Is there a difference between a lease and a secured lease?
        The only thing I can imagine is that if the owner of the land dies, the lease will not end.

        And what exactly does the statement illegal mean?
        Does this mean that you are breaking the law, or does it mean that the secure turns out not to be so secure afterwards?

        • Nico B says up
          1 August 2017 to 08: 36

          Very relevant questions Ruud. Without knowing the details of the lawsuit in question I can say this. My lawyer said that a 30-year lease is no longer allowed, I was not that interested in it, because I personally would not want to take out a 30-year lease. Reason, you are tied to that place for 30 years, build on it and cannot sell the structure, so you will never be able to get a better price for the structure, etc. I understood that it concerns a lease from a Thai to a Farang, which indicates the circumvention of the legislation regarding not being allowed to own land in Thailand through a 30-year lease. Nevertheless, I have advised anyone who wants to conclude a lease to be properly informed before concluding another lease. Illegal means illegal. I can think of something, think of family who, when the owner of the land died, protested against a lease of 30 years that was boarded up on all sides and apparently successfully. Perhaps those heirs would like to get their hands on the land, with the structure. In the Netherlands we know that sale does not break rent, apparently the Supreme Court has vwb there. want to end a 30-year lease boarded up on all sides. Apparently because there are legal rules that cover the load, or because the Supreme Court has supplemented the law with this new jurisprudence in line with what is stated in the law. It is also possible that someone has made a lease contract of which the rights pass to the heirs of the person who obtained the lease rights, which the Supreme Court deems undesirable. I reported this July 15, 2017 via Thailand blog as a warning. Jasper van Der Burgh responded on July 28, 2017 in the article Triootje as follows: “As for the 30-year lease of usufruct construction (I assume you intend to do that) from the ground: The Supreme Court has recently ruled that “secured leases” are not legal, so not even for the first 30 years. So I hope you don't follow this construction! “.
          Perhaps Jasper knows the further details of the lawsuit.

          • support says up
            1 August 2017 to 13: 39

            Just experienced a similar situation myself. I let my girlfriend buy the land and provided her with a written loan for this purpose. Moreover, I had her make a will at the time, in which I would act as executor in the event of her death. Now that unexpected event (her death) has occurred.
            The court here has indeed allowed me to act as executor. Her son had the idea that the house + land belonged to him. But that also involved a loan. So he could get/buy the house against loan repayment.
            He wanted the house + Land, but he didn't want to hear about the loan. Well, you can't just inherit your mother's "assets" and waive the loan (which was also registered with the Land Office).

            In the meantime I have sold land and house in the same way to another Thai, including the continuation of the 30-year lease.

            All in all, it gave a lot of administrative hassle and, above all, it demanded a lot of patience. But It worked.

            I also had a good lawyer at the time (and still do) and having done law myself we formed an apparently successful process, which has held up in practice.

    • john says up
      31 July 2017 on 15: 52

      If it is transferred from a bank account to a Thai bank account, I think it has legally entered Thailand by definition.

  5. Harry Roman says up
    31 July 2017 on 11: 47

    Send a message to:
    – Marlon Van Ingen [mailto:[email protected]] Direct +31 (0)20 808 16 68
    Mobile +31 (0) 631958290
    – Billy Tuthill (In English please) Direct Line: +44 (0)207 426 1495
    - [email protected] tel: +31 (0)20 795 66 90 or [email protected]
    – John Maes tel: +31 (0)20 5782447

    I have been using these organizations for years to transfer THB or US$ from NL to my Thai and other suppliers. Better rate than any bank, and for > € 10.000 free of charge.
    All fall under the supervision of EITHER DNB OR its British counterpart. Are basically currency exchangers and transferrs. Take a look at their websites (= part after the @ sign)

  6. Harry Roman says up
    31 July 2017 on 11: 51

    —Billy Tuthill
    – John Maes

  7. January says up
    31 July 2017 on 12: 15

    you can just transfer your money to your Dutch account, they call that an international booking, that bank then changes to euros and deposits it, you can also see which Dutch banks have a branch in Bangkok, there are also, book your there and on to Holland

    should not be difficult, otherwise you will first report to Dutch customs that you are taking money from Thailand and how much, and you will then receive forms to fill in and then take it with you, in your suitcase, but then you will have proof of origin, you therefore report the taking and the reason.

    • Nico B says up
      31 July 2017 on 13: 46

      Jan, you make me very curious, Dutch banks in Bangkok where you could transfer money to and then to the Netherlands? As far as I know, there may be Dutch banks with a branch in Bangkok, but they do not do transactions as the questioner Wim is looking for.
      Name the branches you say there are that could be extremely interesting.
      Nico B

    • chris says up
      31 July 2017 on 15: 02

      As far as I know, the Dutch banks represented in Thailand are investment banks only. You cannot open an account as a private person, nor have your account transferred. I have tried in the past at ING.

      • Nico B says up
        31 July 2017 on 17: 47

        I've also tried, doesn't work. I also tried to do the necessary identification verification in Bangkok for opening an account with the ING in the Netherlands, unfortunately that was not possible either.
        Nico B

  8. l.low size says up
    31 July 2017 on 13: 31

    If the plan is to stay away from Thailand for years, it is wise to close the contra account.

    In case of a possible returning after years in Thailand, some rules may have changed.

  9. Jasper van Der Burgh says up
    31 July 2017 on 13: 33

    The bank may be the surest way, but cash money yields the best rate! And 20,000 euros is not that huge. At Super rich in Bangkok you can easily exchange this amount (preferably in 2 batches) without much paperwork. If you stay under $ 20,000 exivalent, you can easily take it out of Thailand without having to declare it. Just report it to Dutch customs, and it's no problem. I've been doing it this way for years (but then to Thailand)

  10. david h. says up
    31 July 2017 on 13: 42

    In case you bring cash from Thailand, below are the links for the document to fill in, and to show the Netherlands or other EU country completed at the EU customs before entry!!

    Cash without declaration obligation FROM Thailand is 20 US dollars in each currency..., note that the non-declaration amount for EU is only € 000

    http://ec.europa.eu/taxation_customs/individuals/cash-controls/how-declare_en

  11. rene.chiangmai says up
    31 July 2017 on 16: 49

    I regularly transfer money to Thailand through TransferWise.
    I then transfer that to my own account at the Bangkok Bank or to a friend's account at the SCB.
    I pay to TransferWise via IDEAL or via my VISA card, which is linked to my Dutch bank account.

    Surely that should – conversely – also work in Thailand?

    • Chris says up
      1 August 2017 to 14: 28

      No. That doesn't work the other way around or not yet.

      • rene.chiangmai says up
        1 August 2017 to 17: 12

        I believe it immediately, but I find it strange. 🙂

        I believe TransferWise and similar companies work like this:
        They have a large pot of money in the Netherlands (or another Euro country) and a pot of money at a bank in Thailand.
        If I transfer 500 Euro to a Thai bank, I deposit that amount into their Euro account.
        Transferwise calculates how much THB that is via the exchange rate and pays in Thailand from their Thai jar.
        There is therefore no actual money transfer from the Netherlands to Thailand.
        Only from the Thai TransferWise jar to my girlfriend's bank account.
        If there is no possibility to transfer money from Thailand to Europe, the Thai pot will soon be empty. 555

  12. rene.chiangmai says up
    31 July 2017 on 16: 51

    Personally, I would choose to keep the Thai bill. You never know what it's good for. And it has turned out that it is not always easy to open an account in Thailand.
    Leave some money for annual expenses.

  13. Rob says up
    31 July 2017 on 17: 45

    Hi Wim
    You get the best rate with me and you can leave the Thai bath in Thailand.
    And you can get the euros in the Netherlands, the bank does not earn anything from it, you and I are happy.
    Greetings Rob


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