Transcript of the above video: 

As the title of this video suggests, we are discussing banking and tax issues associated with property purchase here in the Kingdom of Thailand. I know there is a lot of talk in the ether of the expat community out there regarding talk about changes to the Thai Tax rules. Let's start with a preface by saying that there is not a change to Thai Tax rules yet. They are talking about it; it's going to be a while I expect; it's not going to be something that is going to happen overnight because they have got to iron out details associated with it.

My personal opinion is I think it's something of a bad idea, even the discussion, I don't see where really Thailand needs to even be integrating itself into the sort of international tax enforcement community if you will; I think that stuff is rather silly. I think Thailand can handle things on her own. But that said, yeah in the future, there may be some changes to the rules associated with tax assessability and liability going down the road. 

With respect to banking issues, there is one major issue associated with banking and Thai property purchase that comes to the foreground when you are talking about foreigners trying to purchase property in Thailand and that is the banking issues associated with condo purchase here in the Kingdom of Thailand. Specifically you have to be able to prove that the money came in from abroad if a foreigner wants to have Freehold Title so-called, Fee Simple Absolute title in the Common Law vernacular or Freehold title as it is often described in the Australian Common Law vernacular, or Chanote Title in the Thai vernacular so that is again Freehold Title, that's the type of title deed one can obtain if one is buying a condo here pursuant to the provisions of the Foreign Business Act notwithstanding the restrictions on foreigners' ability to own property here in Thailand, condos are a possibility. But banking issues, there are many associated with purchasing a condo because certain formalities have to be maintained when purchasing the condo and those formalities have to be certified in order to be able to transfer Freehold Title to a foreign national here in the Kingdom of Thailand.