Payment For Studio Apartment

[tmaker]

Good day.

first - apologies for starting a new thread - but then, there are just too many topic/thread to scroll thru...so,guess starting one would be easier and faster..

Currently am working in Thailand... saw one Showroom and decided to 'buy' one unit of 28 sq mtr studio apartment.

then after looking thru ( what I can ) the topics and wanting to be sure....for the questions below;

As I am not intending to transfer money to thailand.. will use savings since won't be needed to pay full amount till completion somewhere late 2014.

1. The funds to pay for the unit 'must be from overseas ' ?

2. if I use my savings , how can i remit back home 'if' i sold it off later ?

just to be sure...not sure of my length of stay here atm..

thks guys.

[tmaker]

oh...a few more Q...

3. assuming I leave Thailand ,say a few years later, and 'IF' i make a profit selling it,what are the laws and taxes ?

4. this is for 'just in case ' - what are the Inheritance Laws here and do I need a Thailand Will to execute it ?

thks guys.

[DavoTheGun]

Talk to a good lawyer, and do not listen to what the "Experts" say on this forum!

[iluvbeaches]

Good day.

first - apologies for starting a new thread - but then, there are just too many topic/thread to scroll thru...so,guess starting one would be easier and faster..

Currently am working in Thailand... saw one Showroom and decided to 'buy' one unit of 28 sq mtr studio apartment.

then after looking thru ( what I can ) the topics and wanting to be sure....for the questions below;

As I am not intending to transfer money to thailand.. will use savings since won't be needed to pay full amount till completion somewhere late 2014.

1. The funds to pay for the unit 'must be from overseas ' ?

2. if I use my savings , how can i remit back home 'if' i sold it off later ?

just to be sure...not sure of my length of stay here atm..

thks guys.

As far as I know, you can refer to the actual condominium act, you cannot register the condo in your name (a non Thai or non Thai entirety) if you can't produce a foreign exchange form proving the funds came from abroad. You can send the monies to your home country and then send them back I suppose.

This is really something you should sort out with an attorney especially if the developer does not provide official translations of the purchase and sale agreement.

[Rimmer]

Posts advocating an illegal activity also quoted reply removed

[davejones]

I doubt you will make a profit if planning to sell in a few years. Perhaps better to wait until you're sure you're staying long-term before buying. Would probably be cheaper to rent.

I transferred money back to the UK recently, and no-one asked for proof of where it came from.

[bangkokburning]

28sqm?? Thats smaller than my b4200 flat!

[tmaker]

I doubt you will make a profit if planning to sell in a few years. Perhaps better to wait until you're sure you're staying long-term before buying. Would probably be cheaper to rent.

I transferred money back to the UK recently, and no-one asked for proof of where it came from.

ummm..thought about it for quite some time...renting at the moment.

but ,thinking,since company provide allowance for my accommodation why not use it to 'buy' one instead ?