Welcome to Thailandblog.nl
With 275.000 visits per month, Thailandblog is the largest Thailand community in the Netherlands and Belgium.
Sign up for our free e-mail newsletter and stay informed!
Newsletter
Language setting
Rate Thai Baht
Sponsor
Latest comments
- Eric Kuypers: Nick, you keep the gross state pension in Thailand according to the known rules. And you know those rules: living alone or cohabiting/married
- RonnyLatYa: A re-entry applies to a period of stay (obtained upon entry or as a (year) extension). Not on your visa. Or that visa
- Cornelis: Very briefly: yes, you keep your state pension, and no, you do not keep your health insurance. Furthermore, you should also ask yourself whether you are eligible for the fina
- Mike: It is true that money can buy everything, including in a massage parlour.
- Khaki: In my partner's flat in Bangkok (Bang Khun Thian), we have digital TV via an outdoor antenna (bought from Home Pro).
- French: Today we went to the immigration office of Nonthaburi to get a “reentry” stamp on my Non immigrant O single entry vi
- Toby: I rarely need a hotel anymore because I stay with girlfriend and family. But if I stayed in the same place for a longer period of time
- Frans Schouwenaars: Local Thai booking sites, which ones are they?
- Rob V: Dear Björn, the algorithm does the preselection. This divides an application into several categories based on a risk profile
- Rob V: Dear Ton, well done! If people do not let the ministry know where there are bottlenecks or errors, things will of course improve
- PaulW: I had this done at a Thai law office. While signing the forms, they made a video with mR
- Bjorn: Requested Vidum several times in recent years for a friend with his own business. Download and complete the Guarantee. Gara
- RonnyLatYa: That is not a “provisional visa”. This is called an “under consideration” period. Will be put in your passport
- Bjorn: Sathorn, also called the embassy district, borders Silom. For when you are looking for a little more peace and quiet and still want to be close to everything.
- RonnyLatYa: “And most importantly, you can go anywhere on the river (from Phra Artit pier).” That is also public transport of course….
Sponsor
Bangkok again
Menu
DOSSIERS
Learning objectives and topics
- Background
- Activities
- Advertorial
- Diary
- Tax question
- Belgium question
- Sights
- Bizarre
- Buddhism
- Book reviews
- Column
- Corona crisis
- The Culture
- Diary
- Dating
- The week of
- Dossier
- To dive
- Economy
- A day in the life of…..
- Islands
- Food and drink
- Events and festivals
- Balloon Festival
- Bo Sang Umbrella Festival
- Buffalo races
- Chiang Mai Flower Festival
- Chinese New Year
- Full Moon Party
- Christmas
- Lotus Festival – Rub Bua
- Loy Krathong
- Naga Fireball Festival
- New Years Eve celebration
- Phi ta khon
- Phuket Vegetarian Festival
- Rocket festival – Bun Bang Fai
- Songkran – Thai New Year
- Fireworks Festival Pattaya
- Expats and retirees
- state pension
- Car insurance
- Banking
- Tax in the Netherlands
- Thailand tax
- Belgian Embassy
- Belgian tax authorities
- Proof of life
- DigiD
- emigrate
- To rent a house
- Buy a house
- In memoriam
- Income statement
- King's day
- Cost of living
- Dutch embassy
- Dutch government
- Dutch Association
- News
- Passing away
- Passport
- Retirement
- Drivers license
- Distributions
- Elections
- Insurance in general
- Visa
- work
- Hospital
- Health insurance
- Flora and fauna
- Photo of the week
- Gadgets
- Money and finance
- History
- Health
- Charities
- Hotels
- Looking at houses
- Isaan
- Khan Peter
- Koh Mook
- King Bhumibol
- Living in Thailand
- Reader Submission
- Reader call
- Reader tips
- Reader question
- Society
- marketplace
- Medical tourism
- Environment
- Nightlife
- News from the Netherlands and Belgium
- News from Thailand
- Entrepreneurs and companies
- Education
- Research
- Discover Thailand
- Opinions
- Remarkable
- Calls
- Floods 2011
- Floods 2012
- Floods 2013
- Floods 2014
- Winter prices
- Politics
- Poll
- Travel stories
- Travel
- Organizations
- Shopping
- Social media
- Spa & wellness
- Sport
- Cities
- Position of the week
- The beach
- Language
- For sale
- TEV procedure
- Thailand in general
- Thailand with children
- thai tips
- Thai massage
- Tourism
- Going out
- Currency – Thai Baht
- From the editors
- Real estate law; and
- Traffic and transport
- Visa Short Stay
- Long stay visa
- Visa question
- Flight tickets
- Question of the week
- Weather and climate
Sponsor
Disclaimer translations
Thailandblog uses machine translations in multiple languages. Use of translated information is at your own risk. We are not responsible for errors in translations.
Read our full here disclaimer.
Royalty
© Copyright Thailandblog 2024. All rights reserved. Unless stated otherwise, all rights to information (text, image, sound, video, etc.) that you find on this site rest with Thailandblog.nl and its authors (bloggers).
Whole or partial takeover, placement on other sites, reproduction in any other way and/or commercial use of this information is not permitted, unless express written permission has been granted by Thailandblog.
Linking and referring to the pages on this website is permitted.
Home » Reader question » Transfer money when buying a condo in Thailand?
Transfer money when buying a condo in Thailand?
Dear readers,
Although I have already diligently read and copied a lot of important information from Thailandblog about buying a condominium, I would like advice on the following. It is about a purchase of a double condo with 2 separate title deeds. My wife, who has a Thai and a Dutch passport, pays for one of these.
Because the condos are in a foreign name, she also uses her Dutch passport. We both have a separate Dutch bank account with ING and here with Kasikornbank. We must of course demonstrably transfer the euros from the Netherlands to Thailand.
When I see the exchange rate at Kasikorn and SCB, they are significantly lower than Transferwise and TT exchange office. Unfortunately, in this case, I am not allowed to use it. Yet I have read somewhere on Thailandblog that for example the Krungsribank gives a better exchange rate when transferring large amounts.
Finally, can I open an account with any bank?
Regards,
Jan
Dear Jan,
What is the reason why you cannot/are not allowed to use Transferwise? we are considering similar steps and have concluded that it is better to have a THB account here and to put money in it with TransfeWise from the Netherlands (at favorable exchange rates). That seems much cheaper to us than EUR to an FCD and converting it later (also at favorable exchange rates). The traditional banks charge far too bad rates and far too high transfer costs.
The problem could be that money deposited into your Thai account with Transferwise does not 'visibly' come from abroad – which, as Jan writes, is a requirement in this case. Transferwise works through certain Thai banks, which transfer the money to your bank account as a domestic transaction.
Just transfer directly from your Dutch bank to your Thai bank, slightly lower exchange rate, but you don't buy a condo every day. Don't forget to mention that the money is for a condo purchase and best in English. If you don't, you can count on higher costs.
The bank costs are not too bad at ING. The maximum amount that I can transfer in one go is € 50.000. Then I pay 0.1% and because I take care of all costs (OUR) € 25,= is added.
So a total of 75,=.
When buying a Condo, it MUST come in euros, after which the Thai bank will exchange it.
That is also an important question: Which Thai bank gives the best exchange rate?
A few years ago I made a few videos, including one about buying a condo and what steps you should take. It might be useful to take a look anyway.
(the advertisement during the last seconds is no longer valid).
https://www.youtube.com/watch?v=bXJ2UBwM8GU
Thank you Eugeen for your clear information.
Hi Eugene,
I watched your video with great interest. Bravo. Why does the advertising no longer apply in the last seconds, in other words, do you no longer have an office where you can get all kinds of advice?
Take the cash with you, file a declaration with customs in NL and TH. With the declaration certificate from the Thai customs you can prove the origin.
Cash can sometimes have an advantage in terms of purchase price.
Just make sure you get a FETF from the bank, that's it.
First the Euro is worth less by: 1st Dollar, 2nd Greece, Spain Italy. 3rd The refugees. 4th the US/China trade war.
I don't understand why your Thai wife buys on her Dutch passport. A Condo bought by a Thai is about 10% cheaper, because Farang has to pay extra tax.
They are 2 adjacent condos that have been converted into a living room and bedroom.
In foreign name with 2 separate title deeds. You do indeed pay extra in a foreign name, but when you sell it, it is of course also worth more and easier to sell. That is why I have it registered with her Dutch passport.
In the event of a sale, it will simply be offered as a one-bedroom condo. I gave her the choice to buy in both names or 1 condo entirely in her name. Instinctively, she enjoys owning a condo of her own.
If you take the cash with you, I did too, don't forget to bring the admission statement from your Dutch bank and be careful with those 3 papers. a lot of money from euros to baht and no money gets stuck anywhere. In any case, don't exchange your euros at a bank in Thailand. And you can't open an account at every bank, but there are.
Does this only apply to a condo?
When buying a house, it must also be clearly demonstrable that the amount has recently come from the Netherlands or may the amount have been there for some time?