Buy in Phuket
Transferring money to Thailand for a property purchase
What foreign buyers should coordinate with their bank and lawyer before sending condominium purchase funds to Thailand.
Short answer
For a qualifying foreign-freehold condominium purchase, the incoming-funds evidence can be essential to registration and later repatriation. Before sending money, ask the Thai receiving bank and your lawyer to confirm the required currency, remitter, beneficiary, transfer purpose, reference wording and the exact bank document that will be issued. Do not assume a domestic baht transfer or a payment made by the wrong person will produce the evidence you need.
Plan the evidence before sending the money
Keep the remitter and buyer identity aligned
Use the bank's required purpose wording and retain every record
Currency conversion cost is part of the acquisition budget
Why the money trail matters
Official Thai guidance connects foreign condominium ownership with qualifying funds brought into Thailand. Banks and Land Offices rely on documents, not explanations after the fact. The payment route should therefore be designed alongside the contract and ownership structure.
Questions to ask before the wire
Give the bank and lawyer the buyer name, property type, contract, expected amount and proposed source account. Obtain written instructions rather than copying another buyer's transfer memo.
- Which currency should leave the overseas account?
- Who must appear as remitter and beneficiary?
- What purpose and property reference should be written?
- Which evidence will the Thai bank issue and when?
- How will staged payments be documented?
Protect the record for ownership and resale
Keep the contract, SWIFT confirmation, exchange information, Thai bank credit advice, receipts and any Foreign Exchange Transaction or equivalent supporting document together. These records may be important at registration and when proving the origin of funds or remitting sale proceeds later.
Compare exchange cost, not only the quoted rate
Model the total cost across the sending bank, intermediary banks, receiving bank and currency conversion. A small rate difference on a property-sized transfer can exceed the apparent saving in other transaction fees.
Direct answers
Frequently asked questions
What is an FET form?
It is commonly used shorthand for bank evidence of a qualifying foreign-currency transaction. Ask the receiving bank and lawyer which document and threshold apply to your transfer.
Can I send the purchase money in Thai baht?
Do not assume so for a foreign-freehold condominium. Confirm the required route and currency with the receiving bank and lawyer before the transfer.
Can someone else send the money for me?
That can create an identity and evidence mismatch. Obtain transaction-specific advice before a third party remits funds.
Authoritative starting sources
Sources support general orientation. The original Thai legislation and transaction-specific professional advice control.