Transcript of the above video: 

Banking has been a topic on the lips of many here in Thailand in recent days and frankly for good reason. There has been a lot of in my opinion rather onerous banking restrictions and requirements that have been coming down to pike mostly from the Bank of Thailand, as well as even more onerous requirements from specific Commercial Banks here in Thailand but the point I am trying to make in this video is regards purchase of condos in Thailand. 

I actually view Condos as still a pretty good asset all things considered depending on your situation - again different people, different circumstances, different analysis. But at the end of the day, a Thai condo as an asset is denominated in Baht which can be a major benefit; it is not denominated in other types of currencies. The Baht is a pretty good currency in my opinion all things considered, especially if you live in Asia. If you are based in Southeast Asia, Thailand specifically, it is an asset you can live in. There is a reason that there are a number of especially Asian buyers, especially Chinese buyers that buy condos in Thailand, because you can buy them and it is an asset you can sit on and be relatively sure it will have value down the road and you can go ahead and enjoy that value down the road in a fairly certain manner, so I understand why they are popular. 

Now the point of this video is we are talking about there are specific banking issues you have to deal with. The Thai Condominium Act as promulgated basically stipulates that funds for foreign freehold title - which it is possible for foreigners to have title to a condominium in Thailand in "Freehold Title", what we would call Fee Simple Absolute in the Common Law vernacular from the United States - whereby one could own their condominium outright and have basically the right to, the same type of ownership rights as others would have here in Thailand, notwithstanding the restrictions on real estate ownership here in the Kingdom. 

So it is a benefit. The banking requirements are pretty stringent insofar as you have to go through a number of correct steps in order to perfect the banking documentation, in order to then perfect foreign freehold title. There are also issues associated with quotas of foreign to Thai ownership within a given Condominium Community. That is why due diligence is important and that is why it is also in my opinion rather important to have foreign, or I should say Thai Legal professional assistance for a foreigner in perfecting Freehold Title for that foreigner. So it is very important in my opinion to basically have somebody that knows what they are doing in terms of perfecting the title when it comes to all the details especially as it regards Banking. And I expect moving forward with all of these new requirements, that's only going to become more important. So those who feel a bit overwhelmed by this stuff, it may not be a terrible idea to contact a legal professional, gain some in guidance into how best to proceed.