HOW TO PROPERLY TRANSFER FUNDS FOR PROPERTY PURCHASE IN THAILAND?
1. Essential Transfer Rules:
– All funds must originate overseas to a Thai bank account with the purpose “for property purchase in Thailand”
– Banks may request proof of fund legality (bank statements, income verification)
2. Step-by-Step Process:
1) Open Thai Bank Account (Bangkok Bank, Kasikorn etc.):
– Requirements: Passport + visa (even tourist visa accepted)
– Some banks may request Thai address proof
2) Transfer Funds:
– Accepted currencies: USD, EUR or THB only
– Thresholds:
— No declaration: Up to $50,000 equivalent
— Above $50,000: Requires origin bank certificate
3) Obtain FET Form (Foreign Exchange Transaction):
– Mandatory document proving legal international transfer
– Issued by Thai bank after funds clearance
– Without FET: Property registration is impossible!
3. Common Mistakes:
️- Third-party transfers: If money doesn’t come from buyer, transaction may be voided
– Incorrect payment purpose: Missing “property purchase” note prevents FET issuance
– Premature currency exchange: Better rates available in Thailand
4. Alternative Options:
– Cryptocurrencies: Some developers accept Bitcoin (but requires licensed exchange conversion for Land Office)
– Developer installments: Initial payment by card possible, but main transfer must be via bank
5. Our Services:
✓ Bank account opening assistance
✓ Pre-transfer documentation review
✓ FET acquisition support
Critical: Even minor transfer errors can delay transactions for weeks.
Key Takeaways:
✔ Only international transfers with proper purpose notation
✔ FET form is non-negotiable
✔ Cryptocurrencies/cash involve additional risks
✔ Our team ensures seamless process from account opening to registration
Need guidance? Get a free consultation – we’ll audit your documents and provide customized instructions.
