Question: I am American and going to do business in Thailand next month. I have to carry some cash in USD currency for my business. What is the amount of Foreign and Thai currency that visitors are allowed to bring into or out of Thailand?
If you carry any foreign currency of more than USD 20,000 into or out of Thailand, you need to file a report to the Customs Department. This report is required by the “Ministerial Regulation (No. 25) B.E. 2530 issued under the Authority of the Currency Exchange Control Act B.E. 2485 and relevant regulations.
The Regulation and Notification require that any person who brings foreign currency into or out of Thailand, both in bank notes and coins, with the total aggregate value exceeding USD 20,000 or its equivalent, must declare such amount of foreign currency to a Customs officer at a port/airport of entry or exit, using the given Foreign Currency Declaration Form. You must complete, sign, and submit the Form to report your foreign currency where such currency are physically carried by your arriving in or departing from Thailand, or where they are from part of your baggage and that baggage is being carried on board the same conveyance across the border.
When you report currency, you have to answer truthfully any questions that a border services officer asks you about the information required for the report.
Please note that failure to declare upon bringing foreign currency that exceeds the amount restricted by Law or its equivalent out of or into the Kingdom of Thailand or making any false declaration to a Customs Officer is a criminal offence.
If you are taking out cash in Thai Baht currency from Thailand, remember to file the report on departure for an amount of THB 50,000 or more. However those traveling to Lao PDR., Myanmar, Cambodia, Malaysia, and Vietnam are allowed to take out Thai currency not exceeding THB 500,000.
Please not that all this above information means cash money only.
Contact ThaiLawyers for doing business in Thailand.