Repatriation Of Funds

[hkb]

I know that to buy a condo in Thailand the funds have to be brought in from overseas. If I were to sell a condo at the profit, could I put the proceeds into a new condo? Could I send the proceeds overseas?

[egeefay]

I know that to buy a condo in Thailand the funds have to be brought in from overseas. If I were to sell a condo at the profit, could I put the proceeds into a new condo? Could I send the proceeds overseas?

We are looking at buying property in Thailand and have been told that you can take money out of Thailand as long as you have a paper trail showing that you brought the money into the country from the outside.

My understanding is that if you are going to buy property you should make sure that the money enters Thailand via a bank to bank transfer that states what the money coming into the country is for.

That way, when you sell and realize a profit, you will be taxed on the profit only.

If someone else knows more about this, I'd appreciate hearing from you.

Edited February 12, 2006 by egeefay

[susah_sih]

I know that to buy a condo in Thailand the funds have to be brought in from overseas. If I were to sell a condo at the profit, could I put the proceeds into a new condo? Could I send the proceeds overseas?

not an issue with the repatriation of the funds. when u register ur condo at the land department just show the thor thor 3 which you have to request from the bank in thailand which receives your money. i have done many funds transfer in and out of thailand even without any documents and it seems no problem. i subscribe the thai oil ipo and remited the money from hong kong and after selling the shares i remitted back to hong kong. if you are a foreigner, the banks are not so strict on sending the funds overseas. the restrictions to remit money overseas is more for thai people

moreover with bt10million condo purchase, you can also apply for residency permit.