Pay for your property with funds from abroad

[Merlindxb]

Can we Purchase a Thai property with funds based outside. And Pay, the seller outside of Thailand.

[koongbbr]

It depends on type of the property.

[Concerned expat]

It depends on type of the property.

You would still have to register the chanootee at land office as new foreign owners with letter from Thai bank. If it is a Thai company, things are different.

[rocketboybkk]

Can we Purchase a Thai property with funds based outside. And Pay, the seller outside of Thailand.

Yes you can, why not?

BUT taxes still need paying on the perceived true value of the property.

So, you agree to buy a house in your Thai wife's name for 5 million.

You are from UK & so is your vendor. You agree £100 k GBP.

As long as you trust each other and maybe use a solicitor for the transfer then why not?

I know a chap you swapped a house in UK for a house in Thai plus a few grand.

Still had to pay land taxes etc.

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[krabimike]

What about when you sell the home can you move the money out of country without a problem?

[rocketboybkk]

Now there's the issue as you can't show any funds being transferred in to pay for the property.

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[blackcab]

What about when you sell the home can you move the money out of country without a problem?

You cannot use a bank to transfer the money. Foreign exchange controls mean that you can only take money out that you can prove you brought in.

One answer would be to exchange the money in Thailand for your home currency and then take that out of the country in cash.

[rocketboybkk]

What about when you sell the home can you move the money out of country without a problem?

You cannot use a bank to transfer the money. Foreign exchange controls mean that you can only take money out that you can prove you brought in.

One answer would be to exchange the money in Thailand for your home currency and then take that out of the country in cash.

And how are you going to explain literal maybe a hundred thousand pounds in a bag in either Bkk or the UK

Far too dodgy.

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[rocketboybkk]

Furthermore, what are you gonna do when the cash is seized under POCA 2002?

It's bad advice

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[dennis123]

What is this for strange rule that you can't take money out of the country? Is it really like that?

I want to buy a condo on a short notice and move my money from my Dutch Paypal to my Thai Paypal and cash that out to my Kasikorn bank account, now if I plan to sell the condo after 10 years, would I be able to send that money from the Kasikorn bank either to my Thai Paypal or Dutch bank account or would that result in problems as well?

[HampiK]

When you bring money from outside thailand you will become a form where the amount of money you brought to thailand is written. When you sell your house you are able to transfer this amount back. I think the name of the form is TTF3

[Mr Wonderful]

What is this for strange rule that you can't take money out of the country? Is it really like that?

I want to buy a condo on a short notice and move my money from my Dutch Paypal to my Thai Paypal and cash that out to my Kasikorn bank account, now if I plan to sell the condo after 10 years, would I be able to send that money from the Kasikorn bank either to my Thai Paypal or Dutch bank account or would that result in problems as well?

You have a lot of reading to do before you should invest anything here.

Buying a condo requires funds to be brought in trough a bank and they're ill issue you the forex form you require to register your title.

Buying houses here is a whole different story and foreigners should stay away from houses.

[dennis123]

What is this for strange rule that you can't take money out of the country? Is it really like that?

I want to buy a condo on a short notice and move my money from my Dutch Paypal to my Thai Paypal and cash that out to my Kasikorn bank account, now if I plan to sell the condo after 10 years, would I be able to send that money from the Kasikorn bank either to my Thai Paypal or Dutch bank account or would that result in problems as well?

You have a lot of reading to do before you should invest anything here.

Buying a condo requires funds to be brought in trough a bank and they're ill issue you the forex form you require to register your title.

Buying houses here is a whole different story and foreigners should stay away from houses.

What if I transfer the money through an offshore bank account? Would that work or does it have to come from my country of origin?

[Chewbacka]

What is this for strange rule that you can't take money out of the country? Is it really like that?

I want to buy a condo on a short notice and move my money from my Dutch Paypal to my Thai Paypal and cash that out to my Kasikorn bank account, now if I plan to sell the condo after 10 years, would I be able to send that money from the Kasikorn bank either to my Thai Paypal or Dutch bank account or would that result in problems as well?

You have a lot of reading to do before you should invest anything here.

Buying a condo requires funds to be brought in trough a bank and they're ill issue you the forex form you require to register your title.

Buying houses here is a whole different story and foreigners should stay away from houses.

What if I transfer the money through an offshore bank account? Would that work or does it have to come from my country of origin?

Transferring in money through an offshore account is fine. When you go to the land office to complete the transfer and obtain the foreign freehold you only have to prove that the funds for the purchase of the property have come from abroad.

We have had some clients in the past who have paid foreign sellers of condos in their own country but this can only be done instances whereby the condo is owned by a Thai company rather than by a foreign juristic person.