Guidance for Foreign Buyers of Condominium Units
1. Currency: Any foreign currency can be used to purchase a condominium unit. The foreign currency MUST be
transferred into Thailand as foreign currency and exchanged into Thai Baht by a local bank in Thailand.
2. Documents needed when buying a condominium:
For foreigners to be eligible to purchase a condominium unit in Thailand they must present proof to the Department
of Lands that the funds have been remitted from overseas in foreign currency. Without such proof, the Department
of Lands will not register the transfer of ownership to the foreign buyer.
1. Remittances must be sent in exactly ("to the letter") the same name as appearing on the purchase
contract. If the buyers are two individuals, then two names should appear on the contract and two separate
remittances should be made by such two persons, in equal amounts.
2. Transfers of funds MUST be made in FOREIGN CURRENCY only and NOT in Thai Baht, i.e. if you are
working in US Dollars then remit in US Dollars. Do not remit in Thai Baht.
3. The purpose of the remittance MUST be stated on the remittance advice. This should be "FOR THE
PURCHASE OF BUYING A CONDOMINIUM, UNIT #__ IN TOWER __IN THE ____PROJECT". The
Bank of Thailand's transaction purpose code for this is 381069.
4. Money Transfer
There are 2 options to transfer money to the Developer as follows:
a. Transfer the funds into a local bank account of the buyer in Thailand in the prescribed format as
outlined above, and execute a domestic transfer of this amount onwards to the Developer. In this
case, the buyer must request the local bank of the buyer to issue the Foreign Exchange Transaction
Form.
Amounts transferred should be at or greater than USD$50,000, in order to automatically qualify
for a Foreign Exchange Transaction Form. (The buyer has to request (by telephone or by written
notice, according to the procedure of the relevant local bank) for obtaining the Foreign Exchange
Transaction Form from the local bank as soon as the fund has been transferred.
If the amount remitted is less than USD $50,000, the buyer is required to send a letter to the
bank who will in turn send you a letter confirming the purpose of the remittance is for purchasing a
condominium unit. Presently, either the Foreign Exchange Transaction Form or the Letter from the
bank can be used as evidence when providing proof of fund remittance at the Lands Department.
Without providing either the Foreign Exchange Transaction Form or the letter from the bank,
the Lands Department will not register the transfer of the condominium unit into your name.
b. Transfer the funds directly to the Developer’s bank account in the prescribed format, and the
Developer will arrange for the Foreign Exchange Transaction Form to be issued by the Developer’s
Bank.