Here we will briefly describe the process of acquiring real estate in Thailand and everything that is needed for this at each stage, what formalities must be followed and what to pay close attention to.
METHODS OF PAYMENT FOR THE PURCHASED REAL ESTATE
The main question that arises before buying real estate is how to bring or transfer the required amount of money to Thailand. There are several options, however, not all of them are equally effective and convenient, so we will consider and analyze each of them.
Cash ... According to the current legislation of the Russian Federation, at present there are no restrictions on the export of currency in cash from the Russian Federation. The only condition is compliance with the customs legislation of the Russian Federation, which states that in case of a one-time export from the territory of Russia of cash in the amount exceeding USD 10,000, it is necessary to fill out and submit a customs declaration, indicating the ownership of these Money, their source and the intended purpose of use outside the Russian Federation. It is the additional information that must be provided to government agencies that often confuses those wishing to take out funds in this way. Also, it is worth noting that customs rules in Russia allow employees of the relevant service to detain you at the airport to find out and verify the information that you indicate when declaring, if there are suspicions about incorrectly provided data. Therefore, anyone wishing to use this method of delivering cash to Thailand must first weigh all the risks and preferably consult with the customs authorities at a particular airport in advance. In our practice, there have been clients who have delivered over US $ 300,000 in this way, but again, it is necessary to consult in advance in order not to get into an unpleasant situation. It should be mentioned that in March 2014, the State Duma of the Russian Federation voiced a proposal to impose a restriction on the export of cash from Russia with an estimated limit of 15,000 Euros, so we also recommend that you familiarize yourself with the current regulations when considering this option for transporting cash.
Amercian Express Traveler's Checks. Until recently, it was one of the most convenient and popular ways of transporting cash, but from August 1, 2013, American Express was forced to close its business in all CIS countries and withdraw its checks from circulation. Thus, this option can only be used by those buyers who live in a country where traveler's checks are in circulation and there are no problems with their purchase. Also, if necessary, it is possible to purchase such checks in a third country.
Bank cards. The only limitation you may encounter are the daily limits and ATM withdrawal fees set by your bank, as well as the fees of banks in Thailand for every single cash withdrawal here. It should be noted that financially, this is the most economically unprofitable type of money transfer to Thailand, associated with the high commission of Russian banks for withdrawals from ATMs abroad and often multiple conversions of funds at a less favorable rate at the time of debiting.
Bank transfer. The most understandable, simple and profitable way to transfer money to Thailand. Most Russian banks set a commission for a currency transfer to a foreign bank within 1-3% of the transfer amount, but this commission is always limited to 100-150 US dollars, regardless of the transfer amount. The conversion of funds that occurs during the passage of an interbank foreign exchange transfer is performed at a more favorable conversion rate than in operations with cash currency, which also makes this method of transferring funds to Thailand the most effective. It should be noted that almost all banks in the Russian Federation work with Thai banks through the accounts of third correspondent banks, which translates into an additional one-time commission from these banks in the amount of $ 20-50 per transfer. However, in this option, the transfer of funds should be performed some requirements of Russian legislation, according to which a currency transfer can be made to accounts in foreign banks. There are two basic requirements depending on the name of the recipient. If you are directly the recipient of funds in Thailand, having previously opened an account in your name in a Thai bank, then you need to provide a copy of the notification from the tax authorities about opening an account in a foreign bank to the currency control department of your bank in the Russian Federation.
You can view the form of this notice for review from our website. This procedure takes only a few minutes - you submit a completed form with the details of a previously opened account in a Thai bank to your tax office, where an employee of this body puts a government seal on this form and returns it to you. It is enough to provide a copy of this notice to the currency control department of your bank in person, or, if you are making a transfer via Internet banking, by e-mail in a scanned form.
If the transfer of funds is carried out to the account of a third party (a developer, a private person or a company selling a secondary real estate or our agency), then the foreign exchange control department of your bank will need to provide documents justifying the reason for this transfer of funds. These documents can be invoices (invoices) issued by the seller or real estate agent and a contract for the purchase of real estate. It should be noted that despite the uniform legislation in the field of banking services and foreign exchange control in the territory of the Russian Federation, many banks have different requirements for the documents provided to the sender of funds. Some banks can only request an invoice issued by the seller for payment and will not even require its translation into Russian. Others oblige to provide a full set of documents along with a contract for the purchase of real estate, translated into Russian and officially certified. When buying real estate through our agency, we will provide you with a complete package required documents according to the currency control requirements of your bank.
Also, it should be noted that currently, the FET bank form, which will be discussed in the next section, can only be issued by a Thai bank when transferring funds to Thailand. If you buy an apartment in the property in Hua Hin, then this is the only way for you to pay for your purchase.
FET FOREIGN EXCHANGE TRANSACTION FORM
Click to enlarge
According to Thai law, this form (formerly known as Thor Tor 3), issued by a local bank, is a prerequisite for purchasing an apartment in a condominium. To buy a house or land, an FET is not required, since local laws do not provide for the possibility of these types of real estate in the name of a foreign citizen. But, it should be noted that you should pay close attention to obtaining this form even when buying a house, because when selling your property, it is one of the reasons for transferring your funds from Thailand to another country in the future.
If you transfer funds to your own account, then you are the recipient of this form in a Thai bank. If the recipient of the funds is a developer or agent, then they will independently receive this form for you in my bank. It should be noted that in order to receive such a form in a Thai bank, the purpose of the money transfer must be related to the acquisition of real estate or investment in Thailand. When purchasing apartments in a condominium, you should indicate more detailed information, such as the number of the purchased apartment and the name of the condo, it is also important that the name of the sender of funds and the buyer of the property (the person to whom it will be registered) must match.
Among people who want to buy property in Thailand, one of the most frequently asked questions is: "How can I bring money here?" There are several options - each of them has its pros and cons.1. Traveller's checks
American Express Traveler's Checks are freely exchangeable for Thai Baht at many banks in Thailand. Their exchange rate is higher than that of cash; a fixed commission of about 30 baht is taken from each check. Therefore, it is most profitable to purchase travel checks of high denominations, for example, 500 or 1000 US dollars or euros.
When opening an account in a bank in Thailand, depositing funds to a bank account with traveler's checks is equated by Thai banks to “receiving funds to an account from outside Thailand” (relatively speaking, an analogue of a money transfer from abroad). This means that such funds are sufficient grounds for obtaining a certificate of foreign origin of funds (FET) from a Thai bank and purchasing an apartment in the Kingdom of Thailand.
It is not difficult to purchase traveller's checks on the territory of Russia. Contact the branches of various banks and find out the following questions:
Does the bank sell traveler's checks at all?
What is the commission for the sale of traveler's checks (can reach 1-2% of the amount, as a rule, should not exceed 0.5%)?
What denominations of traveler's checks are offered (preferably the largest)?
What is the method of paying for traveller's checks (most often banks sell traveller's checks for cash) and the rate (if you pay traveller's checks in rubles)?
How much can Travelers Checks be purchased at a time and do they need to be ordered several days in advance?
Having found out the answers to these questions, choose the most convenient and profitable bank, order traveler's checks for the required amount and the required denominations, and go to purchase them.
ATTENTION: According to the currency control restrictions of the Central Bank of Russia, all operations related to the purchase or exchange of currency for amounts exceeding 700 thousand rubles are under control. Therefore, we recommend that you do not exceed this threshold when purchasing one-time traveller's checks.
To purchase traveller's checks, you will need a Russian and / or foreign passport. Your name and surname will be rewritten from your passport in Latin letters. After purchasing traveller's checks from the bank, you will be issued with two papers:
Standard bank certificate (analogue of a currency exchange certificate) - may be required by customs officers when exporting traveler's checks from Russian Federation
· A receipt from the issuing company of travelers' checks (American Express) - it will be required only in case of loss of your traveller's checks for their recovery and possibly (but not necessarily) requested by a Thai bank clerk to take a photocopy of it.
When purchasing traveler's checks, you, in the presence of the bank teller, must sign each check, but only in one place for signature (there are two places for signature on checks). The second signature is put only when cashing a traveller's check in a bank in Thailand (also in the presence of a cashier) and is a guarantee that you are the owner of this check. It is not necessary to sign the traveller's check with the same signature that appears in your passport or international passport. The signature in both, two places of the check can be absolutely arbitrary, the main thing is that your second signature, made at the time of cashing, coincides with the first.
There are no restrictions on the export of currency in traveler's checks in the current Russian legislation. When exported from the Russian Federation, they are subject to declaration individuals in writing, if their amount exceeds the equivalent of $ 10 thousand, without specifying the purpose of the acquisition. In other cases, the exported traveler's checks are declared in writing by individuals at will. This information is of interest only to the customs service and is not provided to other authorities. If the checks are not declared and they are found with you, the checks will be seized before your return to the Russian Federation.
In a Thai bank, when crediting money to an account, in addition to the actual traveller's checks, you will need a passport, possibly a receipt from the issuing company (photocopies are taken from the passport and receipt). It is also there that you will put a second signature on your traveller's checks. After observing all the simple formalities described, you become the owner of an account in Thai baht of a Thai bank, from which transactions will be carried out to pay for your purchase of real estate in Thailand, and the bank will issue a certificate for the acquisition of real estate.
2. Bank transfer.
An equally convenient and sometimes more profitable way of paying for real estate purchased in Thailand is bank currency transfers (telex transfer). The main advantage of a bank wire transfer is that the conversion rate into baht of dollars or euros that came to a Thai bank account is higher (that is, it is the most profitable) than the exchange rate for cash and even travelers checks.
What restrictions may exist for bank transfers:
A one-time bank transfer without providing documents for its purpose in favor of another person cannot exceed the amount of $ 5,000
A one-time bank transfer without providing documents for its purpose to your account abroad or the account of the next of kin cannot exceed the amount of $ 10,000
To transfer any amount in excess of the above, it is required to submit to the bank for currency control documents for payment of the contract, invoices or other documents confirming this amount. When transferring from your account in Russia to your account in Thailand, you are required to provide the bank with a certificate from your tax office that you have notified it about your opening an account abroad!
The main drawback is not even the need to provide documents, but the fact that, depending on the specific branch of a particular bank and the literacy of its employees in Russia, you may be asked to provide, completely unauthorized, for example, a notarized translation of a contract into Russian or other documents in Russian ... The list of official documents is given above.
Bank Wire Transfer Options:
· Without opening an account - the most expensive money transfer abroad
With the opening of an account - as a rule, the commission for transferring funds from a bank account is slightly lower
· With the opening of an account through the "Internet Bank" service - very often independent foreign exchange transfers from your account via the Internet also have the lowest commission for the transfer.
For example, the commission for the described bank transfer options in the same bank can be 1.5%, 1% and 0.4%, respectively.
When sending a bank transfer, you must also specify its type. The fact is that banks participating in the transfer (currency transfer rarely goes directly) may take an additional commission for transferring money through themselves.
Depending on how the currency transfer proceeds, when passing through intermediate foreign banks, "on the way", commissions are debited from it. Commissions can be percentage or fixed. In addition, ANY Thai bank will deduct 300 or 500 baht from the transfer from abroad. The intermediate bank will also take its commission - the standard commissions are $ 20-30. In total, the amount of 20-50 dollars will be less in dollars upon arrival on the account.
3. Bank cards.
Debit and credit cards of VISA and Mastercard payment systems are accepted for payment in Thailand almost everywhere, and there are ATMs for cash withdrawals at every step. In the offices of some major developers, you can even pay to book an apartment - but this operation will most likely cost you 3% commission.
Let's pay attention right away - paying for the purchase of an apartment with a card or withdrawing money from a card does not give you the opportunity to receive a FET certificate from a Thai bank, which is necessary for buying an apartment in a condominium.
When using the card to withdraw cash through an ATM (ATM) in Thailand, remember that the card issuing bank charges a commission for receiving cash, in addition, the commission of the Thai bank, the owner of the ATM, is 150 baht per transaction, regardless of the amount. The limit for one-time cash withdrawal at Thai ATMs, as a rule, does not exceed 20,000, sometimes 25,000 baht. Therefore, when withdrawing, for example, 500,000 baht, your total loss will also be about 3%. If you have a Gold or Platinum CREDIT card, you can contact the branches of some banks and immediately withdraw an amount up to 300,000 baht, but in this case the commission will be at least 3%.
In addition to the above, it should be noted that Thailand is in the list of countries of the so-called "high risk" for cardholders. Therefore, it is highly recommended to call your bank before traveling and find out how the relevant bank service relates to card transactions in Thailand - there are often cases when the card was blocked by the bank after several or even after the very first operation in Thailand.
An obvious plus of bank cards is that you can withdraw cash or pay for a small purchase in just minutes. But more or less significant amounts of money will be expensive to operate and not always possible. Each card has its own limit for the day and month, so before traveling, check with your bank what limit is available to you.
4. Cash currency.
This is the most inappropriate way to buy real estate. There are no restrictions on the import of currency into Thailand, but it is extremely problematic to export large amounts of money legally. In addition, even if you managed to take out the "suitcase of greens", the exchange of cash does not give you the right to receive a FET certificate from a Thai bank! So it will be possible to buy only a house or land with this money, but you will have to forget about buying an apartment in a condominium.
Send money to Thailand you can, of course, use a regular ATM that accepts an international card VISA or MasterCard... Most do so, falling on high interest rates, since Thailand does not miss the opportunity to shake out a couple of gold coins from the rich Buratino from the other end of the planet. First, they are charged 180 baht per transaction, regardless of its amount, and if your bank is not accredited in Thailand, then an additional commission for an operation with a third-party bank. Then they convert the currency at their national rate (you can count it back and forth), which differs significantly from the one declared by the Central Bank (towards the cheaper ruble, of course). As a result, the amount of money is reduced by 10 percent, or even more relative to the original amount.
1. Opening a Thai bank card
Our method of transferring money is based on the fact that you must have any Thai card and, accordingly, open. If yours is long, there is , then in any Thai operating center you will be welcomed. The rest will have to run. In reality, you have to go around several offices to meet with the "good Samaritan" who decides to violate the job descriptions. Please note that money transfer to Thailand possible only with a personal card. Therefore, aggravate the request with this condition, and then wait about a week - this is the deadline for its release.
Advice! Since the cases of fraud with bank cards have become more frequent in Thailand, you need to know. Thus, when withdrawing cash from Thai ATMs, you protect yourself from fraudsters!
2. Registration of a wallet in WebMoney
Received bank card in Thailand will give you the opportunity to turn to the WebMoney electronic payment system, which is transnational and operates not only in Russia, but throughout the world. By registering in it, you would like to receive initial certificate and confirm your loyalty to the system by presenting a scan of your passport, TIN and linking your mobile phone. There are three types of accounts (keepers) in WebMoney, which differ in the authentication method and the maximum size of a possible transaction. The best option is the WebPro keeper, which opens with a certificate installed on the computer (issued free of charge upon registration). An account, which can be accessed through a username and password, limits the size of the daily transfer too much, and the WinPro keeper is very strict and is more suitable for businessmen.
3. Transfer from WebMoney to Thai card
Withdrawing WebMoney to Thailand to thai card can be done both while in Russia and having already arrived in Thailand. All you need is the Internet and adherence to the procedure (transfer to a card account or linking a card is possible). Of course, you need to top up your e-wallet before making a transaction. The best way to do this is through an Internet bank (for example, Sberbank-Online). Moreover, the WebMoney system offers several methods of replenishment, including through electronic terminals.
With an account in this payment system, you can transfer money to Thailand with a commission of 1.8 percent (especially important for those who earn on). The maximum period is 5 days, and if you use this money transfer channel often, the funds will be credited to your Thai card the next day.
Buying real estate: payment methods
Among people who want to buy property in Thailand, one of the most frequently asked questions is: "How can I bring money here?" There are several options - each of them has its pros and cons.Transfer of funds for the purchase of real estate - bank transfers
An equally convenient and often more profitable way of paying for real estate purchased in Thailand is bank currency transfers (telex transfer). The main advantage of a bank wire transfer is that the conversion rate into baht of dollars or euros that came to a Thai bank account is higher (that is, it is the most profitable) than the exchange rate for cash and even travelers checks.What restrictions may exist for bank transfers:
The main disadvantage is not even the need to provide documents, but the fact that, depending on the specific branch of a particular bank and the literacy of its employees, you may be asked to provide, for example, a notarized translation of a contract into Russian or other documents.
Bank Wire Transfer Options:
For example, the commission for the described bank transfer options in the same bank can be 1.5%, 1% and 0.4%, respectively.
When sending a bank transfer, you must also specify its type (bank claim, claim). The fact is that banks participating in the transfer (currency transfer rarely goes directly) may take an additional commission for transferring money through themselves.
Bank Wire Transfer Option Options:
Depending on which way the currency transfer goes, and it usually does not go directly to a Thai bank (Russian banks do not have direct correspondent relations with Thai banks), passing through, for example, an intermediate HSBC or one of the American banks, "on the way" with commissions are written off him. Commissions can be very different, both percentage and fixed. For example, ANY Thai bank deducts 300 or 500 baht of the so-called cross-border duty from a transfer from abroad. The intermediate bank will also take its commission - the standard commissions are $ 15-30. In total, in dollars, additional translation costs can increase by an amount of $ 20 or more.
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Bank transfer (TT - telex transfer / bank transfer)
Bank transfer is one of the most inexpensive payment methods. Go to any bank and ask for the procedure for sending money abroad. You can find our bank coordinates in your invoice (account). You can choose to pay to a legal entity. person (company) or nat. person (personal account) and you do not need to have a bank account to pay by bank transfer!
Which translation to choose, in legal. person or nat. face?
It depends on the laws of your country, your bank's rules and the amount. For example, for the citizens of Russia, small transfers are equally easy to make to any account, large (over 10,000 dollars) are easier to the account of a legal entity, and for citizens of Ukraine it is difficult to send to a legal account. persons, and at the expense of individuals. The faces are very simple.
Attention!
1. If there is an intermediary bank between your bank and ours, you pay the intermediary bank fees, usually $ 10-15. Our account must receive exactly the amount of the invoice.
2. After payment, be sure to send us the payment by e-mail message or fax indicating the number of your invoice.
3. In Russian banking forms, instead of "a \ c name (account name)", "beneficiary" or "recipient" is often used. Do not forget to copy all data from your invoice correctly. The payment will not work if the name and account number, as well as the details of the beneficiary's bank, are not indicated.
If your bank does not have a direct connection with our bank, as well as a correspondent account in a New York bank, or simply does not know how to send direct bank payments and for this uses an intermediary bank, then the sender is obliged to pay the intermediary bank fee (international practice).
After the receipt of money to our account, we pay the bank commission of our bank (we do not ask you to pay the fees of our bank) in Thai baht, usually the same in the amount of 10-15 dollars.
Your bank must know the shipping fees, as well as the intermediary bank. If they don't want to check this information(which is usual for Russia and Sberbank), then attach an additional 15 dollars to the payment and based on the bank statement upon receipt of the payment (we will send it to you), we will make a mutual settlement with you.
What happens if you do not receive the full amount on the invoice?
In this case, the status of your order will change to "Banking Commission" and you will be sent a letter with explanations, as well as your manager will send you an extract from our bank for confirmation. You will need to pay the difference, usually it is convenient to do this by Robokassa, since it makes it easy to pay small amounts in 36 ways. Only after paying the full amount, you will be changed to "Paid" status and vouchers will be sent.
An extract from our bank shows the original amount received in dollars, and then the amount after conversion into Thai baht, and finally, the commission that Ivan Susanin pays in Thai baht. We always pay our commission ourselves, but Thailand must receive the full amount on the invoice, and not less.
An important tip: when you go to the bank, take the invoice with you, having previously copied all the data from the invoice, but do not show it to the bank employee. Oddly enough, most of the problems with sending appear when you show an invoice, which our clients wrote about on the forum many times.
If you really don't want to send without an invoice, you can always show it.
Experience in sending money from our clients (legislation of different countries and bank rules may differ!):
1. I paid through ROSBANK, an ordinary branch on the outskirts of Moscow.
It happened something like this: I came, showed the invoice, I said - I need to send money to Tai. They tell me - will you open an account or not? Decided without opening. OK! Write a statement in which it is MANDATORY to indicate:
Corresponded Bank (beneficiary's correspondent bank)
A / C name (beneficiary)
A / C number (beneficiary account)
Swift No
In the column "Purpose of payment" you write - transfer of funds for current expenses in favor of a non-resident
After that, you pay the Invoice + $ 40 in 2-3 days money in Tai.
2. I paid by bank transfer from Ukraine through Bank Aval (fortunately, I work here myself).
The main problem of Ukrainian legislation is that you cannot pay in favor of legal entity without supporting documents (originals) translated into Ukrainian, etc.
There is a way out - you can pay the equivalent of 1000 US dollars per month from one current account in favor of a non-resident individual. Therefore, I took the details of the personal account (individual) and sent it as a private transfer.
The bank's commission for the transfer is 20 US dollars, during the transfer, another 15 dollars is withdrawn by some intermediary bank (although, according to the terms of the transfer, the net amount should already reach)
Sent a copy of the SWIFT message by e-mail, money goes 2 business days. Everything seemed to go well.
3. If there is a certificate of purchase of currency, then a simple bank transfer. Come with your passport, invoice and money. As I understand it, the transfer amount should not exceed $ 3,000 (it is necessary to clarify), which is due to the limitation of the amount of $ that can be exported by a private person abroad. On the spot, write the translation of the invoice, more precisely, only the purpose of the payment. The bank takes 0.2% or $ 10 for the operation, whichever is more. Payment takes up to 4 banking days. It is advisable to know in advance whether the intermediary bank will take its interest from the transfer. (He definitely takes it from the euro). If this is not known, then at the bank say that if something happens you will pay extra, leave your phone number, and they should call when the answer comes from that bank (so I was told). If there is no certificate, then the bank draws up a deposit (opens an account) from which it makes a payment. The account is reset to zero. The costs are the same.
4. Good day everyone!
My experience of payment through Telebank VTB24. The transfer amount was more than $ 5,000.
- If the transfer amount is less than $ 5000 and do not have a certificate (Inter-PRO program), you must sign unsigned orders at the bank.
- launched the Inter-PRO program
- Logged into the Telebank website http://www.vtb24.ru/personal/remote/
clicked "Sign in with a certificate."
- Transferred the required amount of rubles to the Telebank account (UPI 1038)
- Bought currency (UPI 1111)
- I fill out a currency transfer (UPI 9995), the details in the invoice from Susanin are enough to fill out this form
- we do not write anything in the field "Beneficiary's bank" SWIFT code - we leave an empty space, in the field "Additional details" (the last field in this form at the very bottom) it is necessary to enter "Swift address: KASITHBK" - this is an indication of the bank's support service.
- in the field "Commissions of other banks, if any, pays" select "Payer"
- in the Recipient "Address" field entered Susanin's address, which is indicated at the top of the invoice, specifically "786 / 243-244 Thonglor Tower, 12th Fl, Thonglor soi 18, Sukhumvit 55, Klong Tan Nua", removed extra spaces, dots and the word "Wattana" - fulfilled the 80 character requirement
- the field "purpose of payment" wrote "oplata scheta № ----- ot ...... za uslugi"
- field Correspondent bank SWIFT code must be filled in IRVTUS3N
- entered the amount according to the invoice
- I filled in all other fields according to the requirements of this form, copying from the invoice
- Click the "Next" button
- Ignore Warning: Correspondent bank: More than one bank has been found that satisfies the entered details.
- check again
- press the button "next"
All other actions for carrying out this operation according to paragraphs.
- By E-mail: [email protected] subject "For currency control" sent a scan of the invoice.
The transfer was carried out on December 20, confirmation of receipt of money from Susanin came on December 23.
Good luck to all. Oleg.
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