Burmese people can buy condominiums in Thailand. Normally, they need to transfer the money from overseas to Thailand in order to pay for the condo. But if they are employed by a BOI company, they do not need to transfer money from their bank account overseas. As one of the many benefits of Thailand BOI promotion, the expats working under a BOI company (who can be directors or other level employees) are exempt from this condition thus, they can purchase and make the payment from their bank account in Thailand.
If you are a Burmese working with a BOI company, Thai Lawyers can help you get an approval letter from the BOI’s e-Land system. The required documents to obtain this exemption from the BOI are as follows:-
- Copy of Purchase Agreement together with a copy of the seller’s Thai ID card or passport and a copy of his house registration (Tabien Bann)
- Copy of the title deed of the condo unit that you want to buy
- Copy of the house registration of the condo unit that you want to buy
- Photos of the condo unit that you want to buy (eight to ten pictures showing the interior, exterior and front of the building)
- Copy of your passport pages (main page, latest visa page, last entry stamp to Thailand page)
- Copy of the BOI promoted company’s (your employer) company affidavit and list of shareholders (updated not more than 6 months)
- Copy of PND.1 Kor (this is the tax return that summarizes all the employees’ income and tax withheld throughout the previous year)
Please note that it may take a few weeks before you can get the approval letter. The BOI will send it directly to the head office of the Department of Lands first then it will send it to land department’s district or provincial office that oversees the area where the condominium is located.
If you are buying a condo in Thailand, we highly recommend to consult with experts like Thai Lawyers to help you make sure everything is in order according to the BOI rules and fair to you. We can help you obtain the BOI’s approval letter so you do not need to transfer the money from overseas to pay for the condo unit that you want to purchase.