Why is it important to foreigners in Thailand and who is going to rent or buy property in Thailand? The Foreign Exchange Transaction is a Certificate which shows how much money you have transferred into Thailand.

What is a Foreign Exchange Transaction?

It also has to state the purpose of the money as well as the amount. Before any transfer of more than USD 20,000 had to be noted by the Bank of Thailand. Today the amount of notification has been set at USD 50,000 where the amount and purpose has to be shown. If you are going to be buying property in Thailand then this is part of the process for bringing money into Thailand to pay for the property.

Why is it important to foreigners to know?

If you are a foreigner who is going to be buying or rent any form of real estate in Thailand by having the property registered in your name such as with a Building Registration exclude a land, buying a condominium or 30 years land lease registration then you will need to show how the money was obtained. The Land Office will check and confirm that you have transferred the money into Thailand for assets’ purchase or rental in Thailand with the transferred money. The FET show that the money was legally transferred under your name with the objective of Purchasing Registration or an Assets Lease in Thailand.

If you have any doubt or would like to know more about Foreign Exchange Transaction information and make a plan of money transferring for purchase assets in Thailand then speak to an attorney about this in Thailand.

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