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:
- 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.
- 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).
- 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.
- 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..................
