Basically
all foreign currency transaction must be made through foreign
currency accounts opened with any authorized bank in Thailand.
The transaction may be made, provided that the funds originates
from abroad and the required supporting documents including
the evidence showing the obligations for payment are shown to
the bank.
In
case of foreign currency accounts of Thai residents, the deposit
of foreign currency amount must not exceed US$ 2,000 per day
and the total daily outstanding balances in all accounts must
not exceed US$ 5 million for a juristic person and US$ 500,000
for an individual.
For
import payments, importers may freely purchase or draw foreign
exchange from their own foreign currency accounts without
requirement of approval from the Bank of Thailand, but must
submit form F.T. 2 to customs. Nevertheless, when importing
goods are valued at more than 500,000 Baht or its equivalent
per transaction, the Bill of Lading must also be submitted
together with F.T. 2.
Exporters
are free from any foreign exchange transactions. Proceeds
of exports valued at more than 500,000 Baht or its equivalent
per transaction must be received in Thailand within 120 days
from exportation and must be surrendered to an authorized
local bank within 7 days from the date of receipt.
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