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Can I Buy Property in Thailand Using Bitcoin?

Transcript of the above video:

As the title of this video suggests, we are discussing purchase of property in Thailand using Bitcoin. I have actually had this question a lot. We have done some videos here recently about Bitcoin and I started making videos about Bitcoin because Bitcoin 2020, Bitcoin had a really, really stellar year as far as its run up in 2020 and it is gaining wider usage. More and more people are using it and it especially seems to be pertinent to the Expat community. I had a question from a number of people in the past 10 days or so asking me, and I have actually had this on more than one occasion, "Can I buy a condo in Thailand with Bitcoin? Can I buy a house in Thailand with Bitcoin? Can I buy a car in Thailand with Bitcoin?" The answer to that is, it is going to depend on the circumstances. For example, there are formalities associated with freehold condo ownership in Thailand. Foreign Nationals who are looking to use their Bitcoin to exchange for property in Thailand notably a Thai Condo, that can prove problematic because in transferring title you need to deal with the Thai Land Office. The Thai Land Office don't do transactions in Bitcoin. They are looking at everything in terms of Thai baht. 

Now, depending on the circumstances, if you are utilizing a legal professional that has dealt with Bitcoin rather frequently, it may be possible to make arrangements so that all the formalities associated with property conveyancing in Thailand meet the formal requirements of the Thai Land Office and you go ahead and are able to exchange property for the Bitcoin. Movable property, things like cars, even leases etc., that may be possible to deal with that in Bitcoin. Various contracts for usage of various types of property that may be possible to do that. Again a car, it is not outside the realm of possibility to deal with the sale of a car in Bitcoin. Again there are certain formalities that might have to be dealt with most notably in the realm of tax associated with that event. 

Long story short, it may be possible and legal professionals who have experience dealing with Bitcoin, it is probably a good idea to talk to somebody in that circumstance, somebody that has that experience because Bitcoin has its own ecosystem if you will and understanding that ecosystem and how it interacts with the Thai legal system is something that probably not very many people have a good handle on. So ascertaining someone who does have a good handle on that and gaining appropriate advice accordingly is a good idea for those wishing to convey property here in the Kingdom of Thailand in transactions that involve Bitcoin.