Buyers of real estate are always concerned about the issue of payment. In order to make it legal and not have problems in the future, you need to know the features of local legislation.
Bank transfer
The most optimal payment method. With a purchase agreement and an invoice (payment request) in hand, you can make an international transfer from anywhere in the world. Within 1-3 business days, the amount will be credited to the specified account in Thailand. If you purchase property from a developer, then the invoice will contain its details. After the receipt of funds, the buyer is sent a bank statement (credit advice), a receipt - confirmation check and the final balance.
Important! When buying real estate in Freehold, that is, in the property in the name of a foreigner, it is mandatory to transfer money only by bank payment, since in order to register ownership in the Land Department, you need to provide confirmation that the amount came from abroad (Tor Tor 3).
Cash
As a rule, only part of the payment is paid in cash - a deposit, since you will not receive other documents other than confirmation from the seller. It is also possible to pay her the full price if you plan to register the property with a Thai company (Thai quota). You need to remember that you can only bring $ 10,000 per person into the country without declaring.
Bank card
A convenient way to deposit small amounts at the developer's office, if a terminal is installed there. However, for card payments, you may be asked to charge 3% extra.
Cryptocurrency
The purchase of real estate for cryptocurrency is legalized in Thailand at the legislative level. Blockchain technology has already been implemented in both the public and private sectors. At the moment, there are two licensed crypto exchanges in Thailand: Bitkub and Satang Pro, as well as an approved broker - Coins Th Co. Ltd. Many developers offer to pay for the purchase of real estate with cryptocurrency.
Despite the market volatility, this is a very convenient and fast way to transfer funds. You can choose the most comfortable payment method for you, depending on the transfer amount and the type of real estate registration. We, in turn, will advise you on all the various legal nuances of payment.
