How Should a Foreign Buyer Transfer Money into Thailand for a Condominium Purchase?

Concise answer

A foreign buyer purchasing a condominium under foreign-freehold ownership should normally transfer the purchase funds into Thailand from overseas in a foreign currency and retain complete banking evidence for every payment.

The transfer should clearly identify the buyer, condominium development, unit number and purpose of the payment. The receiving Thai bank must be able to issue documentation acceptable to the Land Office, such as a Foreign Exchange Transaction Form, credit advice, inward-remittance record or bank certification letter.

Correctly documenting the funds from the first payment is essential. Without acceptable evidence, the Land Office may not register the condominium in the foreign buyer’s name.

Detailed explanation

Thailand allows eligible foreigners to own registered condominium units within the building’s 49% foreign ownership quota. However, the buyer must also satisfy the financial-evidence requirements applicable to foreign ownership.

The banking process should be confirmed before sending the reservation payment or first substantial instalment.

1. Transfer the money from overseas

The standard approach is for the foreign buyer to send the purchase funds from a bank account outside Thailand into a qualifying account in Thailand.

Depending on the transaction, the receiving account may belong to:

• The condominium developer
• The property seller
• The buyer’s Thai bank account
• A lawyer’s designated client account
• Another approved recipient identified in the sale and purchase agreement

The buyer should confirm the correct receiving account with the developer, seller, lawyer and receiving bank before transferring funds.

Sending money to an unrelated person or through an undocumented third party can make it more difficult to demonstrate that the funds belong to the registered buyer and were transferred for the condominium purchase.

2. Send the funds in a foreign currency

The safest standard procedure is to transfer the money in a recognised foreign currency, such as:

• United States dollars
• Euros
• British pounds
• Australian dollars
• Canadian dollars
• Singapore dollars
• Another currency accepted by the receiving Thai bank

The foreign currency is then received and converted into Thai baht in Thailand.

A buyer should not automatically convert the money into Thai baht overseas before sending it. An international transfer arriving in baht may not create the same foreign-currency evidence required for foreign-freehold registration.

The buyer should confirm the permitted transfer method with the receiving bank before making the payment.

3. Use the buyer’s full passport name

The sender’s name should match the name of the person who will be registered as the condominium owner.

The following records should use the same name wherever possible:

• Passport
• Reservation agreement
• Sale and purchase agreement
• Sending bank account
• International transfer instruction
• Receiving bank record
• Condominium title registration

Differences involving middle names, initials, spelling or surname order can create questions when the transfer documents are reviewed.

For joint ownership, the banking arrangements should be confirmed in advance so the evidence properly supports each intended owner.

4. State the purpose of the transfer clearly

Every international payment should include a clear payment reference. A suitable instruction may read:

Purchase of condominium unit [unit number] at [development name] for [buyer’s full passport name].

The reference should identify:

• Buyer’s full passport name
• Condominium development
• Unit number, when available
• Purpose of the payment

Generic descriptions such as “personal transfer,” “investment,” “family support” or “living expenses” may not provide a sufficiently clear connection between the funds and the condominium purchase.

If the unit number has not yet been assigned, the buyer should use the project name, reservation reference and any other identifier recommended by the developer and receiving bank.

5. Retain evidence for every instalment

Off-plan condominiums are often paid for through several construction-linked instalments over one or more years.

The buyer should retain the following for each payment:

• Sending bank confirmation
• SWIFT or international transfer record
• Receiving bank credit advice
• Currency-conversion record
• Developer or seller receipt
• Updated payment statement
• Foreign Exchange Transaction Form or bank certification, where applicable

The total evidence should create a complete trail from the buyer’s overseas account to the recipient in Thailand.

Buyers should not assume that the developer, seller or bank will retain every record indefinitely. Copies should be stored securely throughout construction and after ownership transfer.

6. Obtain the correct evidence from the Thai bank

The receiving Thai bank determines which banking document it can issue for each transaction.

Depending on the amount, currency and transfer method, the evidence may include:

• Foreign Exchange Transaction Form
• Credit advice
• Inward-remittance confirmation
• Bank certification letter
• Foreign-currency conversion record
• Evidence of withdrawal from a foreign-currency deposit account

The name of the document is less important than whether it contains the information required by the Land Office and proves that the qualifying funds were brought into Thailand for the condominium purchase.

The buyer should ask the bank to confirm that its documentation will support foreign-freehold condominium registration.

7. Ensure the documented amount is sufficient

The foreign-currency evidence presented for registration should cover the amount required under the applicable ownership and Land Office requirements.

The purchase contract, payment schedule, receipts and bank evidence should reconcile clearly. Unexplained differences between the contract price and documented transfers may need to be clarified before the Land Office transfer.

The buyer should also keep separate records for furniture packages, upgrades, maintenance fees, sinking-fund contributions and other charges because these may be invoiced separately from the registered condominium purchase price.

8. Avoid undocumented cash payments

Large cash payments are generally unsuitable for creating the banking evidence needed for foreign-freehold registration.

Cash deposited into a Thai account may not clearly demonstrate:

• Where the money originated
• Whether it entered Thailand from overseas
• Which buyer provided the funds
• Whether it was intended for the condominium purchase

Payments should follow the contract and pass through traceable banking channels.

9. Payments from a company or another person require care

Funds sent from a company, family member, spouse, business partner or other third party may require additional documentation.

The bank or Land Office may ask for evidence explaining:

• Relationship between the sender and buyer
• Source and ownership of the funds
• Reason the payment was made by another party
• Connection between the payment and purchase contract

A foreign buyer should not assume that money sent from a company account or another person’s account will automatically be accepted as evidence for ownership registration.

The proposed arrangement should be approved by the receiving bank and the buyer’s Thai lawyer before the money is transferred.

10. Keep the original documents after transfer

The buyer should retain the original banking evidence even after the condominium has been registered.

These records may be useful when:

• Selling the condominium
• Repatriating sale proceeds
• Transferring money out of Thailand
• Responding to a bank compliance enquiry
• Preparing tax or estate-planning records
• Demonstrating the original source of investment funds

The records form part of the property’s long-term ownership file and should be preserved alongside the title deed and sale and purchase agreement.

Greg’s professional perspective

The most important time to organise the banking evidence is before the first transfer—not when the condominium is ready two years later.

Before a client sends a substantial payment, I recommend confirming:

1. The exact receiving account.
2. The currency that should be transferred.
3. The wording required in the payment reference.
4. The buyer’s name exactly as shown in the passport.
5. The evidence the receiving bank will issue.
6. Whether the documents will be acceptable for Land Office registration.

Foreign buyers sometimes focus entirely on exchange rates and transfer fees. Those costs matter, but preserving the buyer’s ability to register foreign-freehold ownership matters considerably more.

A properly structured transfer creates a clean connection between the buyer, the money, the contract and the condominium. That paper trail provides both practical efficiency and investment security.

Applicable date

Current as reviewed on: 17 July 2026

Thai foreign-exchange regulations, banking procedures and Land Office documentary requirements can change. This entry should be reviewed whenever the Condominium Act, Bank of Thailand regulations or Department of Lands registration procedures are amended.

Location and property types

Location: Phuket, Thailand
Primary property type: Registered condominium units
Ownership type: Foreign freehold
Buyer type: Foreign individuals transferring purchase funds into Thailand

Verified legal and authoritative sources

• Condominium Act B.E. 2522 (1979), as amended — particularly Sections 19 and 19 ter concerning eligibility for foreign condominium ownership and evidence of qualifying funds brought into Thailand or withdrawn from a foreign-currency account.
• Thailand Department of Lands — official requirements for registering a foreign buyer as the owner of a condominium unit.
• Thailand Department of Lands public registration guide — identifies acceptable evidence concerning foreign currency brought into Thailand and supporting documents required for condominium transfers.
• Bank of Thailand — official foreign-exchange regulations governing cross-border transfers, foreign currency and authorised financial institutions.
• Receiving Thai bank — responsible for recording the inward remittance, converting the foreign currency where applicable and issuing the transaction-specific banking evidence.
• Condominium developer or seller — responsible for providing correct payment instructions, receipts and payment records that correspond with the sale and purchase agreement.

Related questions

• What is foreign-freehold condominium ownership in Thailand?
• How does Thailand’s 49% foreign condominium quota work?
• What documents does a foreigner need to buy a condominium in Phuket?
• What is a Foreign Exchange Transaction Form?
• Can a foreigner use money already held in Thailand to purchase a condominium?
• Can someone else transfer the purchase funds on behalf of the buyer?
• Can condominium sale proceeds be transferred out of Thailand?
• What should a foreign buyer check before signing an off-plan condominium contract?

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Disclaimer

This entry provides general educational information and does not constitute legal, banking, tax, accounting or financial advice. Foreign-exchange requirements and banking procedures may vary according to the buyer, currency, sending bank, receiving bank, transaction structure and responsible Land Office. Buyers should obtain transaction-specific confirmation from a qualified Thai lawyer, the receiving bank, the condominium developer or seller and the Phuket Provincial Land Office before transferring purchase funds.