To legally transfer money to Thailand for a property purchase, funds must be sent from a foreign bank account in a foreign currency. These funds are converted to Thai Baht upon arrival and deposited into a Thai bank account in the buyer’s name. The receiving bank then issues a Foreign Exchange Transaction (FET) form if the amount exceeds 50,000 USD, or a credit note for smaller amounts. This documentation is essential for registering property ownership in a foreigner’s name at the Land Office. Without it, you won’t be able to legally complete the transfer. Always coordinate with your bank and lawyer beforehand to ensure all paperwork is correctly prepared and meets government requirements. It’s also important to state clearly that the purpose of the transfer is for the purchase of a condominium.
Buying Property
How do I transfer money to Thailand to buy property legally?
Short answer: To legally transfer money to Thailand for a property purchase, funds must be sent from a foreign bank account in a foreign currency. These funds are converted to Thai Baht upon arrival and deposited into a Thai bank account in the buyer’s name.