Bangkok Condo - Transferring Money to Thailand (Updated 2025 Guide)

Under the 1991 Condominium Act, non-residents who purchase condominium units in Bangkok must transfer the funds to pay for the unit from overseas, with the money entering Thailand as foreign currency. Purchasers need to obtain a “Foreign Exchange Transaction Form” certificate for each payment from the beneficiary bank, and all these certificates must be shown to the Land Department in order to register the condominium.

When the money is sent to Thailand, the purchaser needs to include in the transfer instructions that the purpose is to buy a condominium unit. Banks will only give “Foreign Exchange Transaction Form” certificates for amounts over US$ 50,000. For amounts below this, purchasers must obtain a bank certificate from the bank.

If the foreign purchaser has Thai Permanent Residence status, they can purchase the condominium in Thai Baht (no need for a “Foreign Exchange Transaction Form”).

Transferring Money
The money must be sent by T/T (Telegraphic Transfer), with a document identifying the name of the purchaser. Alternatively, it is possible for the buyer to ask a third party to transfer the money for them to buy the property by identifying themselves as the receiver.

The purchaser has to include in the transfer instructions that the purpose of this money is to buy a condominium unit. The bank that receives money in foreign currency will issue a Foreign Exchange Transaction Form, which contains the following information:

The Land Department will accept the name of the purchaser as either the sender or receiver of the transferred money. If the money receiver is an individual but wants to put the unit in the names of two people, the sender must instruct the bank to specify the names of the two people together with the purpose of buying a condominium.

The Land Department also can accept the transfer even if the sender’s name and the receiver’s name is not the buyer’s name, but the sender should instruct the bank to put the purpose as being 'for the purchase of the condominium by (Purchaser’s name)'. The amount of money must be equal to or higher than the selling price declared to the Land Department.

In order to obtain a Foreign Exchange Transaction Form, the amount of money must be above US$50,000; lesser amounts require the purchaser to obtain a bank certificate from the bank.

For more information on buying a condo in Bangkok, contact WDX Properties at +66 61 421 1596 or email us at sales@wdxproperties.com. Our team is here to guide you through every step of the process, ensuring a seamless and stress-free experience.