crille30 Posted May 6, 2012 Share Posted May 6, 2012 (edited) Ok I get every month lets call it ROI from what ever.Every month I save money and after 2 years I saved enough so I want to buy a condo.i read about you should get some papers from the bank when you bring money in to buy a condo but thats when its a one time thing(or2)but how can I do it? Can I just take my money and buy a condo?what will be my problem i future?If i sell it I cant take they money out of LOS?Any one know? Edited May 6, 2012 by crille30 Link to comment Share on other sites More sharing options...
simple1 Posted May 7, 2012 Share Posted May 7, 2012 I understand that when transferring funds to Thailand you will need to state the purpose i.e. buying condo. You will need a reord of the funds transfer from your Thai bank which as I recall is a "Tor Tor 3". This will empower you in the future to transfer the funds back to your home country. Link to comment Share on other sites More sharing options...
chiang mai Posted May 7, 2012 Share Posted May 7, 2012 Why not accumulate your overseas ROI in a bank outside Thailand and then when you have sufficent, make a single transfer in. BTW, I believe that overseas income that is paid into Thail banks is taxable here if it is brought here in the year it was earned. Link to comment Share on other sites More sharing options...
AyG Posted May 7, 2012 Share Posted May 7, 2012 which as I recall is a "Tor Tor 3" Tor Tor 3 hasn't been issued for several years now. The new form is referred to as a Foreign Exchange Transaction Certificate. Link to comment Share on other sites More sharing options...
crille30 Posted May 7, 2012 Author Share Posted May 7, 2012 Why not accumulate your overseas ROI in a bank outside Thailand and then when you have sufficent, make a single transfer in. BTW, I believe that overseas income that is paid into Thail banks is taxable here if it is brought here in the year it was earned. Yes thats a good idea.Dont have one ,just have to open a bank acount some were close like Singapor.Thanks Link to comment Share on other sites More sharing options...
crille30 Posted May 7, 2012 Author Share Posted May 7, 2012 If I understand correctly its all about they day I want to bring they money out again?I mean no one will ask me for some papers when I buy the condo?They problem canwill come when I sell and want to transfer they money out trough banks but if that is the case I just bring th money in my pocket when I leave.or Im wrong? Link to comment Share on other sites More sharing options...
Darrel Posted May 7, 2012 Share Posted May 7, 2012 Do yourself a favour and learn about the difference between foreign-name units and Thai/company-name units. This will be especially important in your particular circumstances. Link to comment Share on other sites More sharing options...
PattayaParent Posted May 7, 2012 Share Posted May 7, 2012 If I understand correctly its all about they day I want to bring they money out again?I mean no one will ask me for some papers when I buy the condo?They problem canwill come when I sell and want to transfer they money out trough banks but if that is the case I just bring th money in my pocket when I leave.or Im wrong? You have to give the original FETF to the Land Office as proof that the money came in from overseas in foreign currency. Make a copy of it to give to your bank when you want to transfer out again. Link to comment Share on other sites More sharing options...
chiang mai Posted May 7, 2012 Share Posted May 7, 2012 (edited) In fact, you need to come up to speed on a number of aspects of condo buying/funds transfers in/out of Thailand before you do much else with this. Topics to research: Farang quota vs Thai quota in condo buildings; Repatriation of funds out of Thailand; Recieving foriegn funds in Thailand for home purchase; Tax on condo/house profits in Thailand; Taxation of foriegn income in Thailand. If you do a search on this forum you'll finds loads of information, these subjects have been done to death endlessly. EDIT: additional topics Edited May 7, 2012 by chiang mai Link to comment Share on other sites More sharing options...
Naam Posted May 7, 2012 Share Posted May 7, 2012 Why not accumulate your overseas ROI in a bank outside Thailand and then when you have sufficent, make a single transfer in. BTW, I believe that overseas income that is paid into Thail banks is taxable here if it is brought here in the year it was earned. no taxes! Link to comment Share on other sites More sharing options...
Naam Posted May 7, 2012 Share Posted May 7, 2012 Why not accumulate your overseas ROI in a bank outside Thailand and then when you have sufficent, make a single transfer in. BTW, I believe that overseas income that is paid into Thail banks is taxable here if it is brought here in the year it was earned. Yes thats a good idea.Dont have one ,just have to open a bank acount some were close like Singapor.Thanks why close? what's the advantage? Link to comment Share on other sites More sharing options...
ThailandInvestmentGuide Posted May 9, 2012 Share Posted May 9, 2012 You have to give the original FETF to the Land Office as proof that the money came in from overseas in foreign currency. Make a copy of it to give to your bank when you want to transfer out again. Correct but just to make it a bit clearer for the OP ... this has to be done at the time the condo title is tranferred to you. This is assuming that you are a foreigner and you want the title in your own name. Refer Section 19.3.5 of the Thailand Condominium Act Link to comment Share on other sites More sharing options...
crille30 Posted May 9, 2012 Author Share Posted May 9, 2012 ok guys thanks.well I need to read more for sure and see what is the correct way to do it.Thanks all for taking time to answer Link to comment Share on other sites More sharing options...
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