Selling Chiang Mai Condo - repatriation of capital

[iancnx]

I am hoping to sell a studio I own in Baan Suan Greenery Hill on the University side of CM.  I want to transfer the funds back to UK and I understand I have to get a certificate from the land office (on transfer) to authorise my bank to allow me to transfer the funds back to UK.

 

When I bought the unit all was handled by a lawyer who got the certification from Kasikorn that I had transferred the original funds into Thai as a foreign currency deposit in GBP - I have foreign ownership, blue book and Chanot.

 

Can anyone with experience of this please post a copy of the appropriate form that authorises repatriation of funds, or at least some reference if at all possible?  Many thanks.

[onthemoon]

You don't need a lawyer for that. Just ask your bank.

[wpcoe]

13 hours ago, onthemoon said:

You don't need a lawyer for that. Just ask your bank.

 

That's probably the best advice.  Regardless what "the law" says, or what others tell you, if you don't have the specific document(s) that your bank requires, they aren't going to do the transfer.  So, go to whichever bank branch you are going to use and ask them what they will require for you to transfer the funds out of the country. Maybe even have them write it down in Thai?

[iancnx]

Thanks for the replies.  I was led to believe there was a special form issued from the land office, though I am not certain it is a form specifically for repatriation of funds, but merely the proof of sale for X amount. (Blue receipt?) showing the tax paid.

 

On another thread I read I would be advised to use the same bank as I did for the purchase, but for me that is problematic; I now live 5 hrs from CM.  My bank now is Bangkok Bank, the original purchase was through Kasikorn, but that account has not been used for some time and my relationship with the management at Tai Pae CM has understandably lapsed.

 

If anyone has direct recent experience they could share it would be very much appreciated.

[alantheembalmer]

I was thinking about selling my condo in Bangkok, and was pondering the problem of the repatriation of the funds. If I sold my condo for the same amount I bought it for, in baht, in theory there should be no problem. However, when I bought my condo I got 70 baht to the £, (does anybody else remember those far off days?), and now it is down in the low 40's; so would the bank refuse to send the excess GBP to my account in the UK? Maybe the OP has this potential problem too?