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Most Recent

Transferring Funds Into Thailand (Tor Tor 3)

Background


When purchasing property in Thailand. In order to transfer money used to purchase property or land back out of the country at a later date you will need proof from the bank that the monies were used for this purpose and you will need to get a Tor Tor 3 form or payment slip from the bank as supporting proof.

Tor Tor 3 (TT3) and payment slips explained


A TT3 is now called a "Foreign Currency Transaction" form. This form is only necessary if you transfer over USD $20,000 into Thailand in any foreign currency to buy a property in Thailand and at a later date you wish to sell the property and transfer the money back out of the country. For any other payment method, you will need to obtain a payment slip to be used as documentation if you want to eventually transfer money back out of the country.

The following lists the scenarios for obtaining a TT3 form or payment slip:

  1. If you transfer foreign currency greater than USD $20,000 to Thailand straight into the developer's bank account, then the developer can get the TT3 form from the bank for you.
  2. If you transfer foreign currency less than USD $20,000 to Thailand straight into the developer's bank account then the developer can get a payment slip from the bank for you as support documentation (instead of TT3 form).
  3. If you transfer foreign currency greater than USD $20,000 into a bank account you hold in Thailand and subsequently transfer that money to the developer's bank account, then you are responsible for getting the TT3 form from your bank.
  4. For all other methods of payment, you will need to get a payment slip from the bank to use as support documentation (instead of a TT3 form).

Bank Instructions for Transfers:

House.
(Foreigner landlord – Foreigner buyer)
PURCHASE HOUSE NO..................
AND TRANSFER LAND LEASEHOLD CHANOTE NO..................
IN NAME..................
(Thai landlord – Foreigner buyer)
PURCHASE HOUSE NO.........
AND LAND LEASE CHANOTE NO..................
IN NAME..................
Condo
PURCHASE CONDO NAME..................
ROOM NO..................
FLOOR..................
IN NAME..................