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Posted

Hello everyone,

 

The wife and I have been looking at some houses at new developments from different companies in Ubon, which we would pay for with money sent from abroad to my Thai bank account. One of the bigger developers mentioned that they have now started to "check where the money comes from" when a Thai woman married to a foreigner buys a house. The wife old me about it afterwards, so I couldn't inquire further what they actually meant. I was under the impression that you only had to sign a paper at the land office, basically saying that the money used to buy the house/land is the sole property of the woman, since foreigners aren't allowed to own land.

 

Has anyone else heard anything about this?

Posted
12 minutes ago, Myran said:

One of the bigger developers mentioned that they have now started to "check where the money comes from" when a Thai woman married to a foreigner buys a house.

That's probably true. To stop money laundering.

Some years ago I read that the government was going to prosecute farangs that gave money to wives to build houses as they couldn't own them, or something like that. I don't know if that is still in force or if they changed their minds.

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Posted

I assume you buy the whole house cash? If so, they merely like to see the money comes from abroad. They don't give a flying crack how you obtained the money abroad, they just want proof that the money is not illegally produced in Thailand.  

Personally I have never heard of this being the case when your wife buys the house and only with condo's, but the selling company can just make rules up as they go. You should be fine just showing it's an international transfer. 

 

Thailand only cares about money laundering when the money moves out of the country. 

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Posted

Thai law allows the policeman / officer who confiscated ill gotten assets to obtain 25% of the

value, while the snitch can keep 30%.

this should be remembered as a warning by all expats who move money to thailand.

google : dutch man 100 years jail thailand 

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Posted

Thank you for all the answers. All my funds come from overseas, but they have been transferred on a monthly basis during the course of several years rather than as a lump sum, so it might be difficult to prove everything originated outside of Thailand.

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Posted
3 minutes ago, SCOTT FITZGERSLD said:

bank keep records of all transfers for 10 years

Great, hopefully the land office/property company will be happy with whatever statement the bank can issue. Thanks for the info.

Posted
2 hours ago, Bangkokhatter said:

Maybe you should stop commenting on topics you have no experience of ?.

OP the developer is just informing your wife that if you as the Husband are paying cash for the house then the money must come from overseas. Your Thai bank can assist you with the form you need.

The Land Office will also ask you to sign a form when you register the purchase that you have no rights of ownership, may be not correct description but same meaning.

Pure BS! You can just give your wife the money and she can pay the house. She will own it anyway, so what´s the big deal? Actually the developer can inform as much as he or she want´s. It has no meaning and what you state is not legal. According to the law, you are not allowed to pay for the house or land. You are only allowed to buy or invest in condos, where a minimum of 51% of the condos in the building are owned by Thais.

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Posted
55 minutes ago, Eibot said:

I can say that had absolutely ZERO to do with his money moving to Thailand. Lol.

it has everything to do with his money moving to thailand, because moving the money to thailand

allow thailand to judge this money according to thai money layndry laws.

in thailand money from cannabis sales is dirty money, and in netherlands it is not.

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Posted

that would be rich indeed….. thailand being the offshore money laundering capital of SE Asia, blacklisted as such by USA and EU …..but developers here “asking where the money came from”…… to check for “ money laundering “ ……. so funny …..and ….er, no…they couldnt give a flying <deleted>……..

Posted

then I see referenve to “money laundering laws” …..in thailand ! ….just cracks me up…….

something like the old soviet laws “protecting” workers rights I suppose….where the exact opposite of the written “law” actually practised……

 

 

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Posted
1 hour ago, Myran said:

On a related note: do you think it would be better to keep the money in my bank account or transfer it to my wife's?

TBH, I did not read many of the replies as usual lot of back and forth.

 

Just relating what happened with myself earlier this year. (I'm not married)..

I purchased my partner a townhouse. I transferred funds from my country using Wise (3 separate transfers due to amount). Money remained in my account.

For transfer I had Bank Cheque drawn up with details provided by owner.

At the Land Office, I signed form that basically stated that I forgo any rights to money that I provided. 

Of course for folk that want to have some legal claim to the asset it's more complicated and proof of providing funds etc would be required in the future.

If married my understanding is that your only entitled to 50% equity even if you provided all funds.

Others will confirm or otherwise.

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Posted
3 hours ago, SCOTT FITZGERSLD said:

Thai law allows the policeman / officer who confiscated ill gotten assets to obtain 25% of the

value, while the snitch can keep 30%.

this should be remembered as a warning by all expats who move money to thailand.

google : dutch man 100 years jail thailand 

I don't know what you've been drinking today, but maybe better to be sober before posting.

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Posted

Thailand has this year updated its anti-money laundering laws and part of the new regulations requires brokers and agents involved in the sale of immovable property to report cash transactions above a certain level to AMLO and to also report suspicious transactions. As a result, brokers and agents may well ask about the source of funds in order to properly document their files and comply with know your customer requirements. 

 

This has nothing to do with the Land Department.

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Posted

Just bought 2+ rai a few days ago.  The land office wanted my passport and I had to sign papers that I have no rights to the property.  As far as paying for the property they had nothing to do with it.  I transferred the funds from my account to the land owner after we obtained the chanote.  If you want to protect yourself get your wife/girlfriend to give you a 30 year lease on the property.  

 

The first property we bought here my wife went in alone but when they saw the last name on her Thai ID was a farang name they told her I had to come in and sign the paperwork.  But if she had a Thai name on her ID they would not even have known I was involved too.

 

This is just for actual land purchases.  Building purchases are different as you can legally own them.

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Posted
On 9/2/2021 at 8:02 PM, Myran said:

Thanks. I knew you have to prove the funds come from overseas when buying a condo as a foreigner, but I haven't heard about that being a necessity when your wife buys a house with your money.

They want to know where the money came from.. you or the wife, that's all.

 

Posted

When my Thai wife and I decided to buy our house I decided that I would not pay cash but instead go through a bank loan process and that way if anything happened between my wife and I and we divorced then I would not lose the whole amount for the house and she would then be responsible to continue with the bank payments. With the signing of the loan documents I was asked to sign a "gift" document which was a declaration that the money that I paid on the house was a gift to my wife and that I had no claim on it if anything happened. It was the same at the land office saying that I had no right to the property. The other bit of protection that you could have is to take out a "usufruct" when the titles are transferred to your wife at the lands office and this usufruct is good for 30 years. The best thing is to check on Google about "usufructs" as compared to a lease. I believe that a usufruct is more legally binding on what the Thai partner can do.

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