snakestick Posted May 15, 2008 Share Posted May 15, 2008 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 Link to comment Share on other sites More sharing options...
PattayaParent Posted May 16, 2008 Share Posted May 16, 2008 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. Link to comment Share on other sites More sharing options...
thaigene2 Posted May 19, 2008 Share Posted May 19, 2008 But what happens if he makes a profit? Can he transfer out more than the transfer in? Link to comment Share on other sites More sharing options...
PattayaParent Posted May 20, 2008 Share Posted May 20, 2008 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. Link to comment Share on other sites More sharing options...
FarangCravings Posted June 5, 2008 Share Posted June 5, 2008 GOLD GOLD GOLD BARS Link to comment Share on other sites More sharing options...
think_too_mut Posted June 6, 2008 Share Posted June 6, 2008 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? Link to comment Share on other sites More sharing options...
tangoll Posted June 10, 2008 Share Posted June 10, 2008 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. Link to comment Share on other sites More sharing options...
plachonubon Posted June 10, 2008 Share Posted June 10, 2008 I'd go with the gold bars .... I hate filling out forms!! Link to comment Share on other sites More sharing options...
Scott123 Posted June 14, 2008 Share Posted June 14, 2008 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!!! Link to comment Share on other sites More sharing options...
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