| Provider | Amount To Send | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
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TorFX | CAD $10,000.00 | No Fee | 26.8626 | 1-3 days | more... |
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OFX (prev. CanadianForex) | CAD $10,000.00 | No Fee | 26.8355 | 1-3 days | more... |
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Currencies Direct | CAD $10,000.00 | No Fee | 26.8626 | 1-3 days | more... |
Excellent exchange rates | No transfer fees | Thousands of 5 star reviews
OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.
Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure
One-off payments | Regular payments | Great rates | Safeguarded customer funds
Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers
Average of the top Canadian Banks costs as compiled by our own FXC Intelligence group
Canada and Thailand share strong ties in trade, investment and tourism, requiring high levels of foreign exchange conversions. There are no restrictions for Canadians who want to transfer money from Canada to Thailand. Thailand is a popular tourist destination for Canadians with a small number of Canadians choosing to reside there.
Over 5,000 Canadian citizens currently reside in Thailand, and approximately 230,000 Canadian tourists visited Thailand in 2013, an increase of 5% from 2012. Canadian citizens do not need a visa to visit Thailand if they have a valid passport, with at least six months remaining before expiration, and a confirmed airline ticket that leaves Thailand within 30 days. If planning to stay longer than 30 days, a tourist visa is required.
Canadian citizens who wish to apply for permanent residency in Thailand must meet a number of requirements before it can be granted. A current non-immigrant visa is required at the time of application, and the holder must have had this visa for at least three years. Canadian citizens seeking permanent residency in Thailand must also meet one of the categories for residency, which can be based on type of work, investment, humanitarian or academic reasons. For more information on permanent residency, please visit the Thai Embassy website.
Once an application for permanent residency has been approved, the applicant must register at their district administrative office, also known as “Amphur” offices, and obtain a house card to receive their residence certificate. After the residence certificate is received they can register and apply for an alien book at the local police station. Re-registration is required each year for foreign residents.
There are no restrictions on land ownership by foreigners, though there are quotas for foreign-owned condominiums, the most common type of real estate purchase in Thailand. This quota limits the total purchase of condos by foreigners in a building to 49%. To purchase a condo, international buyers are free to transfer money to Thailand either through a Thai bank account or an escrow account in the name of the attorney managing the purchase. Transfer documents must show that the currency transfer will be used for the purchase of the condominium.
Canadian citizens who wish to lease land can enter into a leasehold, a type of land lease purchase. Land leases are available for a maximum time period of 30 years. If leasing land or property for at least three years, the agreement must be registered with the Thai Department of Lands, and land taxes will be assessed on the property. Canadian citizens who wish to buy land in Thailand may do so, though there are a number of conditions that must be met before the transaction can be approved. The buyer must bring a minimum amount of money into Thailand for investment purposes, and must be granted permission from the Thai Ministry of Interior.
Canadian residents living abroad must declare their earnings and file tax forms annually. They must pay Canadian taxes on any earned income they receive while working in Thailand. However, Canada and Thailand have signed a bilateral tax treaty that will offset taxes paid in one country, to avoid double taxation.
Canadian citizens who are at least 18 years old can vote in a Canadian Federal Election no matter where they are in the world. However, citizens are only permitted to vote abroad for the first five years after leaving Canada. To renew an expired voting status after five years, citizens must return and resume residency within Canada before being permitted to vote again in Canadian Federal Elections.
There are a number of long-standing cooperation agreements between Canadian universities and Thai academic institutions. Canadian citizens planning to study full-time in Thailand can apply for a one-year non-immigrant education visa. Canadian students must be at least twelve years of age and are eligible to enroll for a six-month, nine-month, or one-year course. Canadian students may make unrestricted international money transfers to Thailand to help cover the costs of their studies.
Thailand has three types of health services: government-run healthcare, non-profit health organizations and private medical services. Canadian citizens living in Thailand are not covered by any of the government-funded healthcare services. If working in Thailand, Canadians will generally be covered by their employers’ healthcare plan. Those Canadians not working should take out a private healthcare plan. If traveling in Thailand, obtaining travel insurance before entering the country is advisable.
Canada and Thailand work closely together on a number of international alliances and agreements, including the Association of Southeast Asian Nations (ASEAN), the Asia-Pacific Economic Cooperation (APEC) and the ASEAN Regional Forum, which focuses on security issues throughout the Asian region. They are also partners in the World Trade Organization (WTO). In 2012, the prime ministers of both countries announced the launch of formal discussions for a Canada-Thailand Free Trade Agreement, with the goal of increasing investment opportunities and exports between the two countries. Currently, Thailand is Canada’s second-largest trading partner in Southeast Asia, with two-way trade topping $3.5 billion in 2013.
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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.
FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
