AskGuru Q&A Community

Make confident property decisions with advice from our experts

Asked by
i would like to buy an appartment (maximum 5 million bath) in a condo in bangkok i have money available on my bank account in thailand but i have been told that as a forigner i need to transfer the full amount of the price of the appartment from france to my bank (bangkok bank) in thailand is this true? I would prefer to use the money i have on my bank account in thailand rather than sending the full amount from france any possibility?
Thank you.
John
0 •
1889 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Andrew Batt
Replied
Hi John ... the information you have been given is correct. As a foreigner the money must come from outside Thailand even though you have money inside Thailand. You must also state the purpose (buying a property unit in XX development) on the Foreign Exchange Transfer Form. This is law and is covered by section 19 of the Thailand Condominium Act. It's also a requirement of the Bank of Thailand, I believe.

Other points are that the money must be transferred in Thai baht, and the full name of the sender and receiver (your developer) must also be included.

If you're in any doubt you should seek legal advice from an experienced Thailand property lawyer.

Good luck. Read More
0
Upvote Upvoted
John FANTIN
Replied
Hi Andrew, thank you very much for your helpful and very clear answer. All the best and merry Christmas. John Read More
0
Upvote Upvoted

Still looking for answers?

Get advice from our community of experts

Ask Your Question
Previously Asked Questions