Condo Purchased For Less Than Land Office Valuation

[jbaldwin]

If I buy a condo for less than the land office valuation, how much do I have to show that I have transferred form overseas? The amount on the contract or valuation?

[sotsira]

The purchase price that you declare to the land office has to be equal or under the amount

you transfer from overseas.

Remember that you can only return the same amount back overseas when you sell

too.

[breadbin]

The purchase price that you declare to the land office has to be equal or under the amount

you transfer from overseas.

Remember that you can only return the same amount back overseas when you sell

too.

I am not sure that's correct. You could, if you wanted declare a price higher as who is to say all of the fund are coming from overseas?The last part is correct in that you can usually only transfer back what you originally sent.

[WhizBang]

The purchase price that you declare to the land office has to be equal or under the amount

you transfer from overseas.

Remember that you can only return the same amount back overseas when you sell

too.

I am not sure that's correct. You could, if you wanted declare a price higher as who is to say all of the fund are coming from overseas?The last part is correct in that you can usually only transfer back what you originally sent.

What about capital gains, should you be so lucky?

Edited October 4, 2012 by WhizBang

[ThailandBert]

As far as I am aware if you bring X amount for the purchase of a condo and you sell Condo for Y amount which is greater then as long as you can show it is from the sale of said Condo and you have paid taxes then you can transfer Y amount out of Thailand.

But don't quote me on that

[sotsira]

The purchase price that you declare to the land office has to be equal or under the amount

you transfer from overseas.

Remember that you can only return the same amount back overseas when you sell

too.

I am not sure that's correct. You could, if you wanted declare a price higher as who is to say all of the fund are coming from overseas?The last part is correct in that you can usually only transfer back what you originally sent.

If you declare a higher price than what you transferred from overseas then you wouldn't be able to

purchase in your name.

[sotsira]

As far as I am aware if you bring X amount for the purchase of a condo and you sell Condo for Y amount which is greater then as long as you can show it is from the sale of said Condo and you have paid taxes then you can transfer Y amount out of Thailand.

But don't quote me on that

That is correct as long as it doesn't exceed the original amount transferred from overseas when the purchase was made.

[sotsira]

This is why it's beneficial to transfer over more than the actual purchase price when buying a condo

in your name.