When Paying For Condo

[cyrax]

Hi,

I have the money in my thai bank, ut the bank wont give me the paper work to say the money came from australia, they told me to transfer money from thailand to australia and then back again.

Sounds crazy and think will get taxed with anything over 10,000 that leaves australia.

Anyway when i brought over the 9,500 oz dollar to thailand many times and put in straight into my thi account would I have a problem with that, as it shows oz dollar coming in or done they want the lump sum straight from australia.

Any advice would be great, I also heard of people paying under the table is that true or false?

Cheers

[yankee99]

It doesn't have to be a lump sum but it does need to be wired from a country outside of thailand. They are correct you need to send it out then back in. It needs to equal the purchase price of the condo or the land office value whichever is greater....

[misterme]

WRONG.

As I understand it, EVERY transfer has to be over $20,000 to generate the paperwork necessary to buy a condo. You must show paperwork to cover the entire purchase price of the property. There is a time limit too, within which you can use the transfers, possibly one year.

[cyrax]

WRONG.

As I understand it, EVERY transfer has to be over $20,000 to generate the paperwork necessary to buy a condo. You must show paperwork to cover the entire purchase price of the property. There is a time limit too, within which you can use the transfers, possibly one year.

So I can't send back say 9,500k at a time from over seas to equal the condo price, because anything over 10,000 leaving australia will be taxed I got told from my friend a few days ago.

Also the condo is off the plan, which just finished 2 months ago, so there is a time limit, will it be in my contract?

[yankee99]

WRONG.

As I understand it, EVERY transfer has to be over $20,000 to generate the paperwork necessary to buy a condo. You must show paperwork to cover the entire purchase price of the property. There is a time limit too, within which you can use the transfers, possibly one year.

My bank kasikorn issues a letter with all foreign transfers to submit to the land office. This has been accepted in the past. I am not sure of a time limit.

@cyrax what if your condo.only costs $15000 also why is the land office working in dollars and not baht?

Edited September 20, 2012 by yankee99

[cyrax]

WRONG.

As I understand it, EVERY transfer has to be over $20,000 to generate the paperwork necessary to buy a condo. You must show paperwork to cover the entire purchase price of the property. There is a time limit too, within which you can use the transfers, possibly one year.

My bank kasikorn issues a letter with all foreign transfers to submit to the land office. This has been accepted in the past. I am not sure of a time limit.

@cyrax what if your condo.only costs $15000 also why is the land office working in dollars and not baht?

Well I only owe 1.5 million baht on the condo, but Im working out the currency in zo dollar as dont want to get taxed a large some, my mate was telling me to tranfer under 10k at a time and wont get taxed

[CRUNCHER]

WRONG.

As I understand it, EVERY transfer has to be over $20,000 to generate the paperwork necessary to buy a condo. You must show paperwork to cover the entire purchase price of the property. There is a time limit too, within which you can use the transfers, possibly one year.

It is US$ 50,000 not $20,000. There may be a time limit, but I have never heard of it. It is certainly more than one year. I have used TT3 that are 2 or 3 years old with no problem.

For amounts less than $50,000 you can get a specific letter from the bank that should cover it.

[PattayaPhom]

You can have as many TTS for the land office, if your in Pattaya and dont want to bother transferrinig any more PM me.

[JeffreyMcCollum]

with 10 condo purchases under my belt and then working for a Thai condo development company.

It can be in many small transfers. I have even shown bank exchange receipts and that has worked

Not sure why your bank is giving you trouble. My bank will give me a not that says anything I want for 100 baht.

And no, there is not time limit.