PROPERTY IN THAILAND: Part 19 Bringing in money for property
- Published: 13 Jan 2013 at 00.00
- Newspaper section: Spectrum
If you've been around the property business in Thailand you've probably heard about the foreign exchange certificate. What's the significance of this, and how does a foreigner bring money into Thailand to buy property?
The rules for bringing in foreign exchange are fairly well known in connection with condominiums. Remember, unlike the situation with buying land, a foreigner can buy a unit in a condo in Thailand on a freehold basis. Freehold means forever, and is not limited by the period of a lease. The condo unit may, moreover, be inherited by the heirs of a foreign owner, so it's really an ideal way to buy property in Thailand.
But if a foreigner buys a condo unit here, from where must the money come?
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