Condo purchase with funds not from overseas

[sonicdragon]

Dear all

The purchase price of a new build condo I am buying is around 7million baht, and I have 3million in THB locally already going back many years (I don't have any documentation). The other 4million I will transfer in from abroad. My understanding is that I should remit foreign currency and get the Foreign Exchange form from the local bank.

My question is: since not the whole purchase prices is coming from abroad, is this going to cause a problem with registering it in my name ? If so what are the alternatives/solutions ?

Thanks

SD

[falkan]

you need to bring all money out then back in again!

there are so many topics about this problem..

[rak sa_ngop]

But the land department may value the property at less than the price you are paying for it. So you may only have to show proof of money from overseas for only part of the purchase.

[CRUNCHER]

But the land department may value the property at less than the price you are paying for it. So you may only have to show proof of money from overseas for only part of the purchase.

Agreed. Check with the developer as to what is the expected registered price at the Lands Office. I just did one and the registered price was about 60% of the actual sale price. It might not make your problem go away, but might reduce it. Good luck.

Edited July 24, 2014 by CRUNCHER