In brief
The proposed relaxations of exchange control requirements from the previous public hearing have now been implemented. Under the new regulations, any foreign‑sourced funds of less than USD 10 million (or its equivalent in other currency) received by a Thai resident outside Thailand are now exempt from the repatriation requirement under Thai exchange control law. In addition, the requirement for supporting documents in case of offshore direct investment in securities and derivatives has also been relaxed. These relaxations have been in effect since 27 January 2026.
In more detail
This client alert highlights key regulatory changes under the exchange control law, summarized as follows:
1. USD 10 million threshold repatriation requirements exemption now effective
Under the current Thai exchange control regulations, a Thai resident is required to repatriate any foreign currency received outside Thailand immediately upon receipt and either convert it into THB or deposit it into a foreign currency deposit account opened with a commercial bank in Thailand within 360 days from the date of repatriation ("Repatriation Requirement"), unless official exemption applies or a specific approval from the Bank of Thailand (BOT) has been obtained.
One of the official exemptions from the Repatriation Requirement is where the foreign currency received by a Thai resident outside Thailand is less than the threshold prescribed by the BOT.
Following the public hearing conducted in late 2025,1 where the regulator proposed raising the exemption threshold under the Repatriation Requirement from "less than USD 1 million" to "less than USD 10 million" for all categories of foreign‑sourced funds, now such relaxation of the Repatriation Requirement is officially implemented in two stages.
The first stage of the Repatriation Requirement relaxation took effect on 20 January 2026 under a Ministry of Finance Notification, applying the USD 10 million threshold to export proceeds.2 The second stage followed on 27 January 2026, when the BOT issued an amendment extending the same USD 10 million threshold to all other types of foreign‑sourced funds.3
As a result, any foreign currency amount of less than USD 10 million (or its equivalent in other currency) received by a Thai resident outside Thailand is now exempt from the Repatriation Requirement. For example, if a Thai resident receives dividends or interest from an offshore investment below USD 10 million per transaction and wishes to utilize the funds offshore, they may do so without being subject to approval or notification requirements under Thai exchange control law. This completes the full relaxation of Repatriation Requirement originally proposed during the public hearing in 2025.
2. "BOT Acknowledgement of Notice of Intention To Invest In Overseas Securities And Derivatives" is no longer required for offshore investment
Under Thai exchange control law, Thai residents are permitted to remit foreign currency out of Thailand to invest in permissible offshore securities and derivatives, provided that retail investors are subject to the investment limit of USD 5 million (or equivalent in other currency) per investor per year.
Under previous regulations, in order to make such offshore investments, a Thai resident previously had to apply for an Acknowledgement of Notice of Intention to Invest in Overseas Securities and Derivatives ("BOT Acknowledgement") through the BOT's website. The Thai resident then had to provide this BOT Acknowledgement to the commercial bank when requesting the remittance of funds for the offshore investment. This requirement did not apply if the Thai resident invests through a local licensed intermediary in Thailand.
To facilitate offshore investments by Thai residents, the BOT has repealed this requirement to apply for and submit the BOT Acknowledgement. Under new regulations effective since 27 January 2026, Thai residents are now instead required to provide a simple free‑form certification letter attesting to their acknowledgement of, and agreement to comply with, all applicable Thai exchange control requirements relating to offshore investments.
Looking ahead
These amendments mark a significant step toward greater flexibility in Thailand's foreign‑exchange regulatory framework and reflect ongoing efforts of the regulator to support market efficiency and reduce compliance burdens for Thai residents engaged in cross‑border transactions.
For more details, please contact our team at Baker McKenzie.
1 See "Thailand: Advancing Thailand's FX ecosystem – BOT moves to reshape the repatriation requirements".
2 The Notification of the Ministry of Finance on Exchange Control (No. 11).
3 The Notice of the Competent Officer re: Rules and Practices regarding Currency Exchange (No. 35).
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Bhalarp Vallayapet, Partner, Ann Srikiatkhachorn and Yanisa Nilkhet, Associates, have contributed to this legal update.