Many residents need to regularly send money back home to family, loved ones and so on. Here is an outline of the variety of the more convenient, fast and inexpensive ways to transfer money from Thailand. The three main expenses when transferring money are due to:

1) The actual money transfer fee

2) The current exchange rate.

3) Additional fees that may need to be paid by the recipient of the money transfer. In Thailand this is often the case for bank wire transfers.

Of course most companies make the money transfer fee for there money. This fee is calculated dependent upon various factors such as the amount of baht being sent, how soon you wish the recipient to receive the money transfer and where you are sending money to. Be careful here for some companies will advertise no money transfer fee. this may be the case but if you take a look at the exchange rate they are offering to you it may well be the case that it is a very poor exchange rate and overall you may be losing money despite not paying a money transfer fee.

The exchange rate is of course very important. rates change daily and you can check them in Thailand in the daily Bangkok Post newspaper or of course online. Money transfer firms generally have slightly different exchange rates so double check with as many companies as you can.

As mentioned previously if you are looking to perform a bank wire transfer the recipient may actually incur a fee at their end which shouldn’t be overlooked. Some of the major banks who are able to perform a wire transfer from Bangkok are: Kasikorn Bank, Siam Commercial Bank, and the Bank of Audhya. They have many branches all over Bangkok and throughout Thailand.

Some firms such as iKobo use a system combining ATM cards to send money overseas. The fee for this may be more expensive for Thailand so check with the company offering the service.

Send money via a bank transfer in Thailand is a good idea for large amounts of money as it is very safe. They use a safe system with encrypted messages. To do this you would need a Thai bank account.

You should need to provide several different documents to acquire one of these such as: passport with a non-tourist visa, work permit and proof of earnings amongst other things. It may however be slightly easier to open a bank account outside of Bangkok as restrictions seem to vary dependent on location. However Thai banks are usually very helpful and efficient when processing wire transfers overseas. If you are sending to the UK you would need to provide a BIC number and an IBAN number so the bank knows exactly where to send the money to.

Western Union and MoneyGram also play a big role for transferring money overseas from Thailand. western Union has two very convenient branches in tourist areas on Khao Sah road a main backpacker ghetto and Sukhumvit road where many ex-pats frequent.

At time of writing the exchange rate for UK pound sterling and US dollars is:

Thai baht, 10,000 = 320 US Dollars
Thai baht, 10,000 = 161 UK Pound Sterling

As ever with money transfers it pays to take care of any reference numbers, receipts, carbon copies and so on just in case you run into any problems. This is generally not the case but better to be safe than sorry. with so many money transfer service agents available at the moment the key advice would be to shop around.

Tags : Finance, Industries, Transportation

Thailand’s return to democracy after a 15 month military rule has already had a positive impact on the property market. There have been a notable number of deals completing during high season in Phuket as well as more visitors to the sole agency projects. The newly elected government has begun to take initiatives toward a more open and favorable policy for foreign property investors. It has already taken away the 30% capital control which is thought to support bringing back foreign investments.

Property financing for foreigners in Thailand is available now. When we buy a property back home, one of the first things coming to our mind is financing. Even for those who have enough funding and liquidity for owning a property, financing is often perceived as a way of leveraging investments. For buyers with less access to funding, financing is an unavoidable vehicle they utilize to own that dream home. Considering this, Thailand is the same as any other countries.

Most of the financial institutions in Thailand offer loans for property purchases to Thai citizens and companies centered on similar criteria we are familiar with in our home countries. However, the similarities do not extend from there for most foreigners buying property in Thailand.

The issuing of the new tax incentive package is also an attractive move for the market interested in property purchases. This is anticipated to fuel market sentiments on both the demand and supply sides. Property Transfer fee will be decreased from 2% to 0.01% and Specific Business Tax for property transactions will be decreased from 3% to 0.1%.

Reliability in the market could be improved further by longer lease terms, stretching from the current 30 years to 90 years. The beginning of business lending to foreign property investors should also be considered by the government. Policies like these would enable Thailand to keep pace with its emerging neighbors, Vietnam and Malaysia, relating to property purchase terms. So, more encouraging outlook is expected for the Thai property market in 2008 than in 2007.

Since the December election, foreign investors have shown increased interest in property purchases. Established developments have witnessed a particularly alive high season. Newly awarded projects have also met with a positive response by foreigners in Thailand.

A similar trend is witnessed in Samui with a clear rise in visiting and purchases of resort properties. With surge in flight schedules, further demand will be anticipated in Samui. The Samui market for luxury villas is closing on Phuket, with the establishment of international hotel brands wooing quality tourism. Samui used to be a less favored beach destination, but this is not at all the case now as it is emerging rapidly as a beach destination. Lots of high net worth investors are now increasingly keen.

The Treasury Department’s recent land value appraisal displayed that land values in Phuket have rose by an average 160 per cent over the past four years, with Samui prices following closely. The steady rise in land prices on Thailand’s coast points to the confidence in the market and its long term prospects. If you are ready to forget the unfriendly past of Thailand and show renewed faith you are set to benefit.

On going, an investor may require paying income tax on an income he attains from his investment property in Thailand but may be quite happy to realize that there is presently no capital gains tax in Thailand. There is also a Land Tax and Structures Usage tax that an overseas investor may have to pay on their property assets but both are very much affordable. Wise foreigners in Thailand always go for the right choice in property purchases and this is definitely one among them.

Tags : Thailand, Thailand Property

Offering a staggering array of activities, Thailand is firmly established as the Asian destination of choice, the infrastructure is such that traveling the length and breadth of the country is easy, cheap fast and reliable. Vacationers’ minds are put at ease with world class hospitals, extremely low crime and amenities to match any country in the world. From Bangkok, guests are spoiled for choice when it comes to luxury villas for rent. Stunning locations are within hours of the capitol making weekend breaks very popular these days, High flying professionals can fly in from Hong Kong and be relaxing beside their private pool a their Thailand villa in no time, and enjoying the Thai pace of life.

Thailand Villas are attaining a global reputation for luxury, quality and value. Luxury villas in Phuket are on the same level or above of anything anywhere in the world, and regularly feature in magazines and newspapers as promoted as the peak of living. When choosing a luxury villa guests must decide whether they want solitude or a more hectic atmosphere with hustle and bustle of street markets and beach activities. Luxury villas on the east coast offer the kind of peace and quiet that is more akin to Samui or Krabi. There is a sense of remoteness here, with traditional Thai fishing villages, and quiet serene beaches dotted along the coast.

It is not just the luxury villas that people are drawn too. The Andaman coast is certainly one of the most striking areas, and Phuket is famous for its beauty and wealth of attractions. Southern Thailand stands apart from the rest of the country as being more tropical. It has the highest rainfall, giving a deeper green to the vegetation, while the geological make up of sheer limestone formations adds drama to the landscape.

Thailand also has a reputation as a golfing paradise with a wealth of world class courses that have attracted many of the best pros over the years – including American-Thai Tiger Woods. Thailand frequently stages the Johnnie Walker Super Tour and other Asian classics attracted by the excellent course facilities and clubroom accommodation found across the kingdom. These are all available to our customers and despite the top-notch conditions a first-class round of golf is possible for about US$60 to US$70.

The six provinces along the Western coast are characterized by the Andaman sea which has numerous excellent coral reefs making it a paradise for divers. The water is warm year round and so is always comfortable to swim in. The Similan islands are rated amongst the top dive destinations in the world as are the climbing sites in Krabi province meaning that vacationers will never be bored with what is on offer.

Tags : Thailand, Thailand Travel