Answered4 months ago
What are the requirements for applying for a condo title transfer as a foreigner in Thailand?
Has anyone applied through Embassy in Doha Qatar, just submitted my DTV application yesterday.
Answer summary
The discussion centers on the requirements and procedures for foreigners purchasing a condominium in Thailand, particularly regarding the necessity of a Foreign Exchange Transaction (FET) form, the role of a local Thai bank account, and the legality of transferring funds internationally. Commenters debate the need for a bank account for payment of utilities and management fees, highlighting various methods including cash payments at 7-11 and using digital payment apps. Key points include that the funds must come from abroad and that proper paperwork is essential for title transfer.
48 repliesnewest first
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Ambitious**********
Don’t buy here brother save yourself the heartache.
Exhilaratin************
You should leave Thailand
Luc ************
Just get a Wise account.
Jerry ***********
How...
Thai logic.
Live here 5 years.
Can't spend money.
Mr, must have 20k cash to enter country. Umm here my account i have 400k usd. No Mr, cash, go away. Lol
Thai logic.
Live here 5 years.
Can't spend money.
Mr, must have 20k cash to enter country. Umm here my account i have 400k usd. No Mr, cash, go away. Lol
Anonymous ******************
Wise has been the easiest and cheapest for paying rent that I’ve found. I pay for water digitally through the condo management app and pay electric digitally through a different app the condo uses.
YU**
You tell your agents come together with you and all the “buying apartment” documents and at first, the account only can use for received your money from your country.
After everything settled, they will open all the feature of your account.
After everything settled, they will open all the feature of your account.
Phil ******
Tv is not a long stay visa.
Cant get a bank account
Can by accommodation
Cant get a bank account
Can by accommodation
David ********
And this is a question a Thai person will never have to ask if they're living in a western country 🙄
Robert *******
How did you manage to apply for a DTV?
Some on this page require everybody to have a DTV?
If you do not have a bank account, no knowledgde how a bank account works, you can NOT have a DTV as a bank account is one of the requirements.
Use your bank.
Some on this page require everybody to have a DTV?
If you do not have a bank account, no knowledgde how a bank account works, you can NOT have a DTV as a bank account is one of the requirements.
Use your bank.
Tho *****
@Robert ******
You need the FET form as a foreigner to make a condo title transfer.Without LOCAL Thai Bank account and former foreign sourced forex - no FET form.
Section 19 of the Thai Condominium Act.
Thailand once again skrewed itself.
Robert *******
@Tho ****
NO, Thailand did a good thing.Some foreigners screwed themselves by applying for the wrong visa.
You call yourselfs digital, but basic research on the WWW is unknown.
Christine *********
If you’re a business owner you can sign up for an international account through Found Banking or HSBC.
Andreas *********
you can pay utility bills in the
****
or at any bank counter, and the management fee in cash at the lobby
เกรกอรี ********
You can open a temporary Thai bank account to buy a condo, but the money absolutely has to come from overseas in foreign currency. When the wire transfer hits your account, you need to ask the bank for an FET form (or a Bank Confirmation Letter if the amount is under $50,000 USD). You need that document to get your name on the title deed (Chanote) at the Land Office. It also protects you later down the road, without it, you won't be allowed to wire your money back to your home country when you eventually sell the condo.
Marianne ********
Why would you need a bank account to buy an apartment?
International transfers are a thing.
International transfers are a thing.
Tho *****
@Marianne *******
You cannot transfer a condo title deet without a FET form. The only other legit way afaik i bringing in cash and getting a Foreign Currency Declaration Certificate at the airport. Then those funds need to be deposited immediately.
Marianne ********
@Tho ****
The sellers bank can provide a FET if you transfer directly to them.The FET is a document provided by banks to confirm that the money transferred was in foreign currency, converted to Thai baht, by them.
It would be up to the seller if they offer that as a option.
Andrzej *******
@Marianne *******
And when buying a condo in the farang-quota you have to transfer the payment from outside Thailand...Tho *****
Marianne ********
@Tho ****
How is a international transfer to the seller illegal?Andreas *********
@Marianne *******
read again.He doesn't need the Thai bank account for the purchase. He needs the account to pay for electricity, water and the management fee.That's what you use the account for to make it convenient. . . . . .Ka Ak : you can pay utility bills in the ****
and the management fee in cash at the lobbyMarianne ********
@Andreas ********
They are asking how to buy an apartment, not how to pay rent and utilities.Marianne ********
@Andreas ********
Utilities can be paid in cash at 7 Eleven if you get a actual bill. And I think most people can use the TrueMoney app now, which let's you top up at 7 Eleven so scan most places and pay your bills through the app.
if utilities and water is through the building, they'll almost guaranteed accept cash payments.
Andreas *********
@Marianne *******
yet, the problem remains. How can a DTV holder pay for his utilities and the management fees? Can they be paid in the ****
or across a bank counter, eliminating the need for a Thai bank account ? Which of course would mean that the DTV holder lives inside Thailand for the full yearMarianne ********
@Andreas ********
Haha, it happens! :)Andreas *********
@Marianne *******
ah, sorry, I was referring to another thread by a different person !
EfficientD**********
Rent invest stock
Anonymous ******************
EfficientDolphin9930 he didn't ask for irrelevant financial advice.
James ********
Anonymous participant 801 although it's better advice than buying.
Anonymous ******************
AmbitiousAlpaca1760 Then you can rent it out.
Ambitious**********
Anonymous participant 748 things change u don’t know whats happening 10 yrs down the line.
Anonymous ******************
@James *******
I think if you're in your 40s and plan to live in Thailand the rest of your life it makes more sense to buy.
Victor *********
Using lawyers escrow. Revolut to him, he to seller.
Tho *****
@Victor ********
Completely illegal for condo purchases - crap advice.Victor *********
What part is illegal?
Chohada *********
Consult the bank ditect, espacially ones in Foriegners area, walk into a few bank and ask direct to the bank staff...what do you need, maybe a purchasing contract ect
Elías ********
You don't need to have a local account to buy a condo. You wire from your home country bank account, that's the standard procedure and has always been, for those with no local Thai income.
Chohada *********
@Elías *******
Wire to Who???Marianne ********
@Chohada ********
whoever is supposed to receive the money? :PElías ********
@Marianne *******
it depends on visa/income type. In SOME cases, the money needs to come from abroad, but it's different case by case.Marianne ********
@Chohada ********
what?Chohada *********
@Christer ****
foriegner cannot pay cash, it always has to be wire transfer from abroad Only in order to get FETAndreas *********
@Christer ****
the Land Office demands proof that the money for the purchase must have come from abroad
DTV_Be*******
@Chohada ********
either way, it would be the same, if you transferred money to the seller form your local account or from your non-local account. Yes, you would wait for the paperwork to be finished either wayMarianne ********
@Chohada ********
Why would you need to wire to the buyer before the paperwork is done? Do the paperwork, make the transfer and show the seller the transfer is on the way.
Christer *****
@Chohada ********
Isn't that true even if you pay cash?Chohada *********
@Marianne *******
Best way is to have the account open or buy direct from the developer....and yeah seemed that is the plan of the big guy afterall.Chohada *********
@Marianne *******
You would not want to wire to the seller before the paperwork is done and title deed is transfered into your name...why would anyone do that??? silly.Activity
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