HOW TO BUY YOUR PROPERTY IN THAILAND


Fah Luang House Chiang Mai


When you are purchasing property in Thailand and you want to pay in Thai Baht ensure that your funds are transferred into Thailand in foreign currency and converted to Thai Baht here.
The reason for this is that the receiving bank will issue a Thor Tor 3 Certificate confirming the transaction.
The relevance of the Thor Tor 3 Certificate is that it is one of the documents you will need in the future if you wish to repatriate funds without incurring tax penalties.
Also, be aware that Banks will only issue Thor Tor 3 Certificates for individual inward transfers exceeding 350.000 THB or 10.000 USD; 7.800 EUROS or 60.000 NOK
Repatriation of investment funds and repayment of overseas borrowing in foreign currency can be remitted freely upon submission of supporting evidence.
One of these documents would be the Thor Tor 3 mentioned above, or in respect of a foreign currency loan, the loan contract. Remittance of funds without proper documentation could be regarded as income and become liable for lax.
Most real estate agents and property developers in Thailand prefer to simplify the process by allowing you to purchase your property in foreign currency.
Your money is usually transferred directly into one of their offshore accounts. They will set up the freehold for you directly on remittance of this money.
If the time comes that you wish to sell your property you simply sell it on, in foreign currency.

Buying options in Banana Paradise

●   You can lease your property site(ground) for 30+30+30 years and own your house.

●   You can buy a fractional contract 4, 8 or 12 month for 30 years (what is fractional) and only pay for the time you use.

●   You can buy a short term prepaid holiday package 2, 4 or 6 weeks which you have to use  within 3 years (read more) and try different places. This is the way to find out if Thailand is the place to have a second home.

Please contact our representatives to find out what is best for you. We can make any arrangement and package for you and your family to fit into any budget or situation. Your dream is out there and nothing is impossible; we just have to communicate. This you do in your own language with one of our representatives.