KBank: what documents for a large incoming EUR

KBank: what documents for a large incoming EUR transfer (~€100k) to buy a house?

Legal y Financiero hace 2sem 6 answers • nigel

My wife is Thai but lives in Belgium and has no income in Thailand. She will open a KBank savings account in her own name and buy a house there. The funds (around €100k, roughly 3.9M THB) would come from her bank account in Belgium (EU) by SWIFT in EUR.

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4 Answers · 2 replies

Ploy S • hace 2sem

My Thai wife needed to prove the source of funds when we bought a house in Chiang Mai. This is a condition that applies to foreigners purchasing property in Thailand. To transfer funds from Switzerland, we used a money transfer service and didn't need to provide any documents. The transfer amount was around two million baht.

Nathan E • hace 2sem

I've had some issues with Wise, a money transfer service, as they've been randomly closing accounts and freezing funds without explanation. The fees for using this service must have been quite high.

Ploy S • hace 2sem

We transferred a total of 3.4 million baht in two separate transactions, with fees amounting to around 520 euros in 2020. However, it's possible that the fees and transfer limits have changed since then.

Narin • hace 2sem

Specify 'for personal property purchase' in the remittance remarks.

Narin Nakhon • hace 2sem

The Land Department often asks for bank statements due to a recent crackdown on nominee land purchases. This is an effort to prevent money laundering and ensure that property transactions are legitimate.

Veronique • hace 2sem

There seems to be confusion between two scenarios: a Thai wife buying a house with her own money and a foreigner purchasing a house or condo. If a Thai wife transfers more than 50,000 euros from her Belgian account to her Thai account, the Belgian bank may ask for the source of the funds. However, if the money is in savings, the source has already been verified. Additionally, there might be a daily transfer limit on the account, which could be increased by the bank.

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