Document Check List For Condo Purchase

[jay1980]

Hi

I bought a condo off plan last year. It is in the farang allocation in the building and I transferred all the finds into Thailand from the UK in GBP to my HSBC Thailand GBP account, then changed to Baht locally within Thailand and kept in my THB account in HSBC Thailand, and made the payments as per the developers schedule.

I have the 'Telegraphic Transfer Credit Advice' slips issued to me from HSBC Bangkok branch. This has 'Purpose to buy condominium' stated as I requested. I also have the 'advice of debt' from HSBC UK to my HSBC Thailand account. this also has 'Purpose to buy condominium' on it.

Is this all I need to prove the money came from outside Thailand, or do I need to obtain any additional documents from HSBC Thailand to give to the developer to allow them to process the sale and put the charnote into my name?

Also can I provide photo copies of these documents to the developer or do they need the original?

Many thanks in advance for any replies.

[aussiebebe]

You take the original Foreign Exchange Transaction Form(s) (or whatever HSBC calls them) to the land office (wherever you're buying the condo) when you go there with the rep. The company and land office officials will need to see the original, but you will keep this (if you sell you'll need it repatriate sale proceeds). You'll hand over the cashier cheques for the balance and you'll recieve the FETform, title deed and house book. Your name will appear in Thai on the title deeds but not in the house book.

[jay1980]

You take the original Foreign Exchange Transaction Form(s) (or whatever HSBC calls them) to the land office (wherever you're buying the condo) when you go there with the rep. The company and land office officials will need to see the original, but you will keep this (if you sell you'll need it repatriate sale proceeds). You'll hand over the cashier cheques for the balance and you'll recieve the FETform, title deed and house book. Your name will appear in Thai on the title deeds but not in the house book.

Many thanks for the reply, this confirms that what I have all the docs I need to take with me.

[nitram]

You take the original Foreign Exchange Transaction Form(s) (or whatever HSBC calls them) to the land office (wherever you're buying the condo) when you go there with the rep. The company and land office officials will need to see the original, but you will keep this (if you sell you'll need it repatriate sale proceeds). You'll hand over the cashier cheques for the balance and you'll recieve the FETform, title deed and house book. Your name will appear in Thai on the title deeds but not in the house book.

I think that the form you have from the HSBC bank (Telegraphic Transfer Credit Advice) is only a notification stating that your money has arrived.

I don't think that this constitutes the legal form required by the Land Department (FETF).

I would be going back to HSBC as you actually have to fill in a form that requests the FETF to be issued and verified by the bank officials staing that your money has arrived as foreign funds.

[aussiebebe]

I was just writing advice going by what I did - I used Bangkok Bank and they issued the FETF, clearly stating 'Foreign Exchange Transaction Form' across the top in English. I've no experience of HSBC so maybe they call it something different? maybe it's a generic form used by all banks, I don't know.

Either way, you only need that one form to buy the condo and you only have to show it to the company and land office, you keep it. I think thats all the OP was asking.

[jay1980]

Hi

I have got an e-mail back from HSBC Thailand now as follows:

I'm checking back your accounts since the beginning to see if you need either the Foreign Exchange Transaction Form or an Inward Remittance Confirmation Letter. I'll revert back to you asap.

Looks like I won't need to bring any documents from the UK and HSBC Thailand will issue what I need when I visit the branch next Monday

Will bring the transfer advise slips just in case.

thanks for the replies!

[tangoll]

You need to confirm with the developer what documents you need to provide in order to do the transfer of ownership from developer to you. In the past, I have supplied following documents to a developer to do transfer for me:

1. copies of my passport (if you are non-Thai)

2. copy of my birth certificate showing mother and father's name

3. copy of marriage or divorce certificate

4. original of Foreign Exchange Transaction Form showing converted baht amount exceeds the

transaction value to be used at transfer of ownership. These orginals are kept by Land Dept office and

not returned to the transferring parties. When repatriating funds upon sale of condo, Bangkok Bank

has never asked to see copy of FETF's showing import of funds. The reason that BB is not interested

in the FETF is that there is no trace on FETF showing which condo transaction the FETF was used for.

Other documents are required for the export of funds, but not the FETF.

5. A Power of Attorney if developer is to represent you at the Lands Dept.

6. Bank cheque for the final installment plus fees due to developer and Lands Dept.

This is pretty much complete list of documents that you have to supply to developer, but you should ask your developer what is needed.

[jay1980]

Thanks for the list, will take my birth certificate just in case, but I was a adopted as a baby and no parents names on my birth certificate, hope this won't be a problem..

Why divorce certificate? is this only if you have divorced in Thailand?

cheers

[tangoll]

Not sure exactly why my father's and mother's name were requested; I think it's used as a check by Land Dept office to ensure that no one is masquerading as the chanote title holder to sell a property in a fraudulent way. As for marriage or divorce certificate, it probably has to do with farang/Thai lady marriages and whether the Thai lady would have a claim on the property in the event of a divorce. Not sure, really, but the developer, Asian Property, wanted these documents to do each transfer that I have done with them.