Money from abroad for property purchase

Hi all,

Just a quick reminder.

For foreigners buying a property here in Thailand, make sure the money you transfer across from your home country arrives in a foreign currency. I made the mistake of my money arriving from the UK in Thai currency, so my purchase was rejected by the Land Department. Luckily, I was able to put the property in my wife's name (Thai National) otherwise I would have had to cancel the purchase. It would have been a lot of hassle (time) and expense to cancel the cheque for seller, then send the money back to the UK and start the process again.

I hope others can avoid my silly mistake.

JS

Quote:

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Originally Posted by jakestevernson

I made the mistake of my money arriving from the UK in Thai currency, so my purchase was rejected by the Land Department.

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Why?
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If I remember correctly, the money needs to be tagged as for a home purchase BEFORE the transfer is made.

A while back I transferred in a couple of million baht from an overseas account and got a call from the central bank asking what was the purpose of the money before they cleared it.

i have transfer a lot of money from Australia in AUD and change it into baht in Thailand, inform the bank its for living expenses which covers anything i want to use if for including the purchase of property and never had any problems, also if i want to send money back to Australia there is never any problems as i have proof the money originally came from there