Requirement For A Thai Citizen While Buying A House

[jdrake72]

Cheers all.

I am gonna buy a house in my Thai wife's name (touch wood) and I will need to bring cash from Europe.

I know that for foreigners willing to buy a condo it has to be done by bank transfer ,but what about for Thai citizens ?

Will they ask questions to her where this money come from ?

I want to bring cash in euros here and exchange in Superich which has much better rates, than put the money in her account maybe at once (she has little money and a normal employee job).

Will be a problem to her to sudden have a couple of million baht in her account for purchising the house or no hassle is made to Thais ?

[alyx]

Cheers all.

I am gonna buy a house in my Thai wife's name (touch wood) and I will need to bring cash from Europe.

I know that for foreigners willing to buy a condo it has to be done by bank transfer ,but what about for Thai citizens ?

Will they ask questions to her where this money come from ?

I want to bring cash in euros here and exchange in Superich which has much better rates, than put the money in her account maybe at once (she has little money and a normal employee job).

Will be a problem to her to sudden have a couple of million baht in her account for purchising the house or no hassle is made to Thais ?

Hello

No your wife doesn't need to import the money from abroad but if I were you I would declare the amount at the customs of your country upon departure and then declare it when you arrive (mind you it happens that the customs in Thailand do not care to do it) and when you go to the exchange bureau ask for a receipt (yes they will give you one even in Super Rich if you ask for it)

I hope that will have been helpful

Alyx

[donx]

When my wife bought land last year, I transferred the money using swift bank transfers, but since it was being used for buying land in her name as opposed to buying a condo in my name, I didn't even provide a reason for the money transfer. I made two transfers because, at the time, I was concerned about the law where 30% of money transferred that was over $20,000 USD would/could be held by the bank. I believe this law has been overturned.

In any event, the land office didn't care where the money came from. All they knew was that my wife had a cashiers check to pay for the land. I don't think they even looked at the check since the seller asked my wife to report a lower sales amount since they were paying all the transfer fees and taxes.

You may or may not be required to be there for the property transfer. Be prepared to sign a document stating that all the money used by your wife is hers and hers alone. I was prepared to sign such a document, but I was never asked to do so. My wife said that this was because she is still listed as single on her Thai ID card and her name still appears with her maiden name.

[tangoll]

If at some time in the future you need to export funds out of Thailand, then you should ask your Thai bank what documents you need to provide them in order to export those funds. If the Thai bank tells you that some documents are required from when you imported funds, then you need to get and save just those documents at the time of import.

As a Thai citizen buying property in Thailand, your wife needs only herself, her Thai ID card, and cash to buy that property.

[jdrake72]

Thanks . So much easier for a Thai than.

I also wonder if I buy a condo in a resell from another farang or a Thai citizen, will I always need to make the transaction through the bank which states that transfer is for property purchase ?

[donx]

Thanks . So much easier for a Thai than.

I also wonder if I buy a condo in a resell from another farang or a Thai citizen, will I always need to make the transaction through the bank which states that transfer is for property purchase ?

If you want to buy the condo in your name, then you will always need to make the transaction through the bank. It is a requirement for foreigners that purchase condos that the money come from out of the country.