My wife and I purchased a home in Thailand 5 years ago and we lived in it for about 40 months. The property was purchased in my wife's name since I am unable to own land in Thailand.

We Purchased the home for $272,000 USD and sold it for about the same amount.
How can we repatriate the funds?
What is the tax liability?

How can we repatriate the funds?

The Central Bank [Bank of Thailand] requires some paperwork before funds can be transferred outside of Thailand. Generally a purpose of remittance is required. See the below from Bangkok Bank website

The maximum amount you can transfer out of Thailand is determined by the Bank of Thailand, depending on the source of funds and/or the purpose of payment, including supporting documents. For example, if you are a foreigner repatriating proceeds from the sale of a condominium, then you would need to submit the purchase and sales contract and ownership title documents. In this case, the maximum transfer amount would be the selling price for the condominium.

Regardless of how much is transferred, the Bank of Thailand requires senders to specify in their payment instruction the purpose of the payment (Thai residents) or the source of the income (for foreigners), as well as present any supporting documents.

It is advisable to contact your Bank in Thailand to understand the formalities, take help of qualified CA as required. The funds can be transferred using international wire transfer.

What is the tax liability?

From Thailand taxation point of view the capital gains are clubbed along with income. These can also be filed separately with indexation benefits. Best take the advise of local CA who can guide you.

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