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Condo Purchase By Foreigner


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Can someone please clarify the documents required at the land office at time of transfer for condo purchase by a foreigner. I understand that a Foreign Exchange Certificate is needed to prove the transfer of monies from overseas and presumably some personal id such as passport is asked for.

Anything else?

Evidence that the condo development is owned by 49% or less foreigners?

Thanks for any pointers.

TCA

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I've searched the forum and the net and the only requirements I can see is that foreigners require their passport and foreign exchange certificate to transfer ownership of the condo. But surely the land department must verify the percentage of foreign owners to comply with the law?

Surely somebody here has bought a condo in Thailand and can confirm?

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But surely the land department must verify the percentage of foreign owners to comply with the law?

the condominium juristic person will provide that information , they will also provide information relating to any outstanding service charges and mortgage payments (if any) etc. on the unit.

before you decide to buy , speak to the manager in the juristic persons office at the condo , they should be able to give you all that info. there and then.

at the land department on transfer day , all you will need are the bank verification of the funding (fce) , possibly your bank book and your passport with the correct visa.

the funding must be from money transferred into thailand as foriegn currency and converted into baht here.

money transferred via one of those brokerage companies that buy foriegn currency abroad (at preferential exchange rates) and then transfer it here as baht is not acceptable. banks wont issue fce's for those transfers.

Edited by taxexile
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Thanks for the reply taxexile.

I'm aware the information about foreign ownership etc.. can be obtained from the juristic office of the condo but it just seems bizarre that no official wants to check this before transferring ownership to a foreigner.

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TCA - I think you missed the point Taxexile made.

TO put another way. The seller must produce a letter to show the debit situation (normally to show no debts owed to the management of the condo) and if selling to a foreigner a letter giving the % foreign ownership. These are checked by the land registry before the transfer takes place.

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Can someone please clarify the documents required at the land office at time of transfer for condo purchase by a foreigner. I understand that a Foreign Exchange Certificate is needed to prove the transfer of monies from overseas and presumably some personal id such as passport is asked for.

Anything else?

Nothing else.

1. If it is a brand new condo, your passport (a copy of the ID page, no visas, nothing else) and the money sent from an overseas account with purpose stated as "Purchasing a condo in Thailand". When they (the developer) receive the money with that purpose stated, that's it.

They will tel you that, no problems.

2. For a second hand condo it is a bit more complicated: you will need to open an account just for this exercise with any Thai bank.

To do that, you need is a certified copy of your passport (from your Embassy in BKK,only ID pages) and the money as above wired for the purpose of "Purchasing a condo in Thailand".

Upon settlement, the money from that one-off account will have to be transferred to the vendor's account.

3. If you are buying into a heavilly farang owned building (like View Thalay in Pattaya), then you will have to watch out for the quota. The vendor or the agency would already know that but may witheld the info. That's where you should be careful. If that is the case, they may come up with selling you a company (at a token fee) but those arrangements may go sour by Thai laws.

Edited by think_too_mut
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Thanks for the above 2 replies. I should say that this is not my purchase but a friend's and the money part has all been done (with certificate) except for payment and transfer which will happen next week. The selling agents (Thai) will get the paperwork from the condo juristic office re debt etc... but as they have never sold to a foreigner before, I just want to make sure they don't all turn up at the land department with a document minus one vital piece of information.

TCA - I think you missed the point Taxexile made.

To put another way. The seller must produce a letter to show the debit situation (normally to show no debts owed to the management of the condo) and if selling to a foreigner a letter giving the % foreign ownership. These are checked by the land registry before the transfer takes place.

Taxexile makes no mention of such a letter being checked by the land department but you are saying that this is checked prior to date of transfer or just prior to transfer. So am I correct therefore in saying that the document from the juristic office must state percentage of foreign owners and that my friend does in fact need this along with his passport and foreign exchange certificate before transfer can take place?

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I gather from above discussions that the purchase is a foreigner buying direct from a Thai national owner (not a new development direct from developer) of an existing condo unit. If so, what's needed are:

1. Title deed of unit being transferred plus the transaction document of the latest transfer (issued by Land Dept)

2. Current owner's ID card plus several copies

3. New Owner's (on title deed) passport plus several copies

4. Foreign Exchange Transaction certificate(s) of sufficient amount greater than the transaction amount to be declared for the new sale/purchase. Names on FETC must be same as new name on the title deed and transaction document.

5. Certificate of No Debt issued by Juristic Person ( called bai plod ngee in Thai)

6. Certificate of Foreign Quota issued by Juristic Person (not sure what this is called in Thai) if new owner is non-Thai

7. Cheque or cash to pay off balance remaining to current owner as shown on title deed. Owner and Purchaser have to be present to sign the transaction documents to be prepared by Land Dept, plus cash to pay tax/fees computed by Land Dept.

8. Tabien Baan of unit to be passed to new owner.

Missing any of items 1 thru 6, and the Land Dept won't be able to do the transfer. Items 7 and 8 are between seller and purchaser.

Edited by tangoll
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I gather from above discussions that the purchase is a foreigner buying direct from a Thai national owner (not a new development direct from developer) of an existing condo unit. If so, what's needed are:

1. Title deed of unit being transferred plus the transaction document of the latest transfer (issued by Land Dept)

2. Current owner's ID card plus several copies

3. New Owner's (on title deed) passport plus several copies

4. Foreign Exchange Transaction certificate(s) of sufficient amount greater than the transaction amount to be declared for the new sale/purchase. Names on FETC must be same as new name on the title deed and transaction document.

5. Certificate of No Debt issued by Juristic Person ( called bai plod ngee in Thai)

6. Certificate of Foreign Quota issued by Juristic Person (not sure what this is called in Thai) if new owner is non-Thai

7. Cheque or cash to pay off balance remaining to current owner as shown on title deed. Owner and Purchaser have to be present to sign the transaction documents to be prepared by Land Dept, plus cash to pay tax/fees computed by Land Dept.

8. Tabien Baan of unit to be passed to new owner.

Missing any of items 1 thru 6, and the Land Dept won't be able to do the transfer. Items 7 and 8 are between seller and purchaser.

Thanks a lot tangoll. A very comprehensive list there. Exactly what I was after. No.6 was the item of concern so I'll make sure the agent knows to collect this with the bai plod ngee. Your assistance is very much appreciated. Thanks for taking the time to reply.

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