Payment Instruction for Foreign Purchasers of Condominium in Thailand

Under the Condominium Act 1991, non resident foreigners who purchase units must bring the funds to pay for the condominium from overseas. This means that the entire payment must be transferred into the country in foreign currency. The beneficiary bank (Local Thailand Bank) will issue a Foreign Exchange Transaction certificate which should be presented to the Land Department when registering the ownership of the condominium.

Payment Procedure

1/ Remit funds in foreign currency into your local Thailand Bank Account

2/ To obtain a “Foreign Exchange Transaction” certificate

The name of the remitter must be the same as the purchaser( as indicated in the sale and purchase agreement.

The money transferred as foreign currency. Do not transfer in Thai Baht before making the transfer.

Please indicate the purpose of the transfer “ To purchase a condominium unit No………………….. at ………………………..Condominium.

Please use the exact wording in order to avoid misinterpretation by the Land Department.

These instructions are meant as a guide to help you complete the formalities as smoothly as possible.