| Provider | Amount Received | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
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OFX (prev. OzForex) | THB ฿242,694.22 | No Fee | 24.2694 | 1-3 days | more... |
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TorFX | THB ฿243,307.09 | No Fee | 24.3307 | 1-3 days | more... |
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Moneycorp | THB ฿239,360.24 | No Fee | 23.936 | 1-3 days | more... |
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Thailand receives more than 900,000 Australian visitors each year, and has long been a popular destination for Australians travelling for tourism, business or foreign study programmes. Additionally, according to the 2011 Census, there are over 45,000 Thai natives living in Australia, which further encourages bilateral exchange. The AUD is freely convertible to the Thai baht, and there are no restrictions to transfer money from Australia to Thailand.
No visa is required for Australians who wish to visit Thailand as tourists for up to 30 days. Thailand is a top choice for its picturesque coastal landscape beaches, food and rich culture. In order to travel, your passport must have at least six months remaining validity. Australian tourists can only benefit from the visa exemption if they are travelling by air and have confirmed return travel arrangements. If Australians are entering Thailand by land from a border country, they will be permitted to stay for 15 days without a visa. For longer periods of stay, such as for study, diplomatic relations or business, Australians may stay up to a maximum of 90 days per entry. You must provide documentation detailing the reason for your visit directly to the Royal Thai Embassy. The cost of these visas ranges from AUD$35 to AUD$225.
Thailand is becoming more popular for Australian students. This is especially the case with the New Colombo Plan, a state-supported scholarship programme that will support Australian students studying in Thailand and the broader region in 2015. On the other hand, Australia is an attractive destination for Thai citizens. In 2013, there were over 21,600 Thai students enrolled in Australian schools.
Australia and Thailand have long had solid bilateral partnerships in several areas, including international trade and non-trade sectors such as technology, law enforcement, science and technology, telecommunications, energy, social development, environment, culture, public administration and civil aviation. A memorandum of understanding between both countries in relation to a Work and Holiday visa allows for Thai and Australian natives to enjoy 12 months working holiday in either country. Australians who intend to work in Thailand will have to apply for a Non-immigrant Type B visa. Along with the application, expats will have to provide a letter from the Australian Thai embassy stating the specific purpose for their travel. There should also be a letter of invitation from the corporation or employer, in addition to a signed contract. The B visa is necessary for obtaining a work permit to legally work in Thailand.
Australia and Thailand’s trade relationship has strengthened since the formation of the Thailand-Australia Free Trade Agreement (TAFTA) in 2005. Bilateral trade amounted to AUD$19.5 billion in 2013, which is $1 billion more than the previous year. Thailand ranks as Australia’s eighth-largest trade partner in goods and services, and its second-largest partner within the ASEAN zone. In 2013, Australian investment in Thailand amounted to more than $2.8 billion.
One of the main reasons to transfer money from Australia to Thailand has been influenced by the two countries’ cooperation in regional development. Up to November 2003, Thailand was a major recipient of aid from organisations in Australia’s private sector, as well as the Australian government. Since 2003, however, Thailand has been able to offer more aid than it receives. Nevertheless, the country still benefits from Australian programs aimed at combating labour rights, disaster management, human trafficking, health and economic integration.
Thailand has a modern, efficient and reliable banking system. The most popular banks for expats include the Siam Commercial Bank and Kassikorn Bank or K-Bank. Many bank branches have English-speaking personnel who can offer assistance to Australians. Having a work permit will make it easier to open a bank account in Thailand. However, if you want to get higher interest rates on your money and pay lower taxes, it is recommended that you open an offshore bank account with a Thai bank. This will make it easier to transfer money internationally online between the two countries. Local credit is also fairly accessible for Australians who are living in Thailand for a longer period of time.
Australia and Thailand have a double taxation avoidance agreement on such aspects as income tax, petroleum tax for Thailand and in the case of Australia, the income tax and resource rent tax. Australian business people or expatriates can invest in mutual funds, stocks or bonds in Thailand through a local bank, and also qualify for tax deductions. Australians who work in Thailand for more than 6 months will have to pay taxes on any income earned within the country. On the other hand, Thai residents are taxed on both income earned within the country as well as any income earned outside of the country.
Australians retiring in Thailand may collect their state pensions from Australia by way of an international currency transfer to a Thai bank account quite easily. However, pensions from private companies will have to be routed through an offshore account.
If you intend on bringing your pet with you to Thailand for more than 6 months, you can declare it as a part of your carry-on as long as you take care of a few considerations. These include filling out an authorization of transit form as well as a form giving you permission to take animals into Thailand. There are fees associated with each form. You will also need to provide certification that your pet has been examined by a registered veterinarian and is free of infectious diseases.
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