thanatorn-old
August 1st, 2008, 01:49
Guys, could anyone clarify with a recommended source, or reliable info regarding the Tor Tor Saam form required for property registration.
As I understand it, it is a form issued by your receiving Thai bank that confirms finance has been brought into the country for property purchase funds, (I am interested in condo purchase only), as foreign currency and not already converted into Baht. The purpose of this I believe is that should you sell up and wih to transfer the money out of Thailand - the Tor Tor 3 will allow you to do so as the money is shown as coming in in foreign currency originally.
My query is: Is it really necessary to have this form if you have no intention of moving money out later on?
Further apart from a bank transfer is their anyway of bringing the currency in - e.g. can't I just pay for it with my normal bank/credit card issued outside thailand?
Also, should I choose to enter into a purchase on one of these new developments that offer a payment term over several months, as opposed to an outright purchase, how does the issue of a Tor Tor saam done, as i believe a miinimum amount for the incoming currency is $5000. (A payment schedule will not reach these limits monthly)
Any known pitfalls regarding this form?
Thanks
As I understand it, it is a form issued by your receiving Thai bank that confirms finance has been brought into the country for property purchase funds, (I am interested in condo purchase only), as foreign currency and not already converted into Baht. The purpose of this I believe is that should you sell up and wih to transfer the money out of Thailand - the Tor Tor 3 will allow you to do so as the money is shown as coming in in foreign currency originally.
My query is: Is it really necessary to have this form if you have no intention of moving money out later on?
Further apart from a bank transfer is their anyway of bringing the currency in - e.g. can't I just pay for it with my normal bank/credit card issued outside thailand?
Also, should I choose to enter into a purchase on one of these new developments that offer a payment term over several months, as opposed to an outright purchase, how does the issue of a Tor Tor saam done, as i believe a miinimum amount for the incoming currency is $5000. (A payment schedule will not reach these limits monthly)
Any known pitfalls regarding this form?
Thanks