How to pay
If you are purchasing property in Thailand and you want to pay in Thai Baht ensure that you funds are transferred into Thailand in foreign currency and converted to Thai Baht here. The reason for this is that the receiving bank will issue a Foreign Exchange Transaction Form confirming the transaction. The relevance of the Foreign Exchange Transaction Form is that it is one of the documents you will need in the future if you wish to repatriate funds without incurring tax penalties. Also, please be aware that Banks will only issue Foreigner Exchange Transaction Form for individual inward transfers exceeding 20,000 US$. Repatriation of investment funds and repayment of overseas borrowing in foreign currency can be remitted freely upon submission of supporting evidence. One of these documents would be the Foreign Exchange Transaction form mentioned above, or in respect of a foreign currency loan, the loan contract. Remittance of funds without proper documentation could be regarded as income and become liable for tax.
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