Selling Condos

[snakestick]

Hi, I bought 2 condos in Jomtien a few years ago and now I'm thinking about selling them and moving back to my country. I am unclear whether I can just sell the condos and take the money out of the country when I move back a short time later. Does anyone know Thai law on this? thanks in advance

[PattayaParent]

If you have copies of the original TT3 (now FET) certificates stating the purpose of importing the money from overseas was to purchase a condo and have the blue slip from the land office indicating the amount that tax has been paid on then your bank should transfer the money out no problems.

[thaigene2]

But what happens if he makes a profit? Can he transfer out more than the transfer in?

[PattayaParent]

If he's declared the full sale value to the Land Office and paid the tax on it then yes. The bank will allow the transfer of the amount stated on the blue slip form the Land Office.

Where most people come unstuck is that the value is underdeclared at the Land Office to reduce the tax bill, and then you're short on the amount you brought in. But as the transfer taxes have just been reduced it may be worthwhile to declare the full value if there's a significant difference.

[FarangCravings]

GOLD GOLD GOLD BARS

[think_too_mut]

Hi, I bought 2 condos in Jomtien a few years ago and now I'm thinking about selling them and moving back to my country. I am unclear whether I can just sell the condos and take the money out of the country when I move back a short time later. Does anyone know Thai law on this? thanks in advance

Before you take the money out, you have to sell the condos.

How is that going?

[tangoll]

I just sold a condo and asked at Bangkok Bank what documents I need to present to them to transfer money out of Thailand. They need to see:

1. copies of the Foreign Exchange Transaction Certificates showing the money brought in to cover the original cost.

2. Copy of the transaction document issued by Land Office showing the transaction of your sale of condo

3. Copy of the chanote title deed, both front and back showing your ownership and the new owner's ownership

4. blue slip showing the amount of tax and fees paid with the declared value of your sale

5. passport or other identity document; your Bangkok Bank passport or account details

6. the export funds application form filled out

Amount you can export is the full amount of the declared value of your sale. BBL said that you would get a more favourable exchange rate if you converted baht into the foreign currency before export, rather than exporting baht and converting in your destination country. This applies to the major currencies.

That's it.

[plachonubon]

I'd go with the gold bars ....

I hate filling out forms!!

[Scott123]

Hi, I bought 2 condos in Jomtien a few years ago and now I'm thinking about selling them and moving back to my country. I am unclear whether I can just sell the condos and take the money out of the country when I move back a short time later. Does anyone know Thai law on this? thanks in advance

Before you take the money out, you have to sell the condos.

How is that going?

LOL....this is so true!!!