Under the 1991 Condominium Act, non-residents are allowed to purchase condominium units in Thailand. They must transfer the funds to pay for the unit from overseas, coming into Thailand as foreign currency. Foreign purchasers need to obtain a “Foreign Exchange Transaction Form” certificate for each payment from the beneficiary bank, and all these certificates must be shown to the Land Department in order to register the condominium.
When the money is sent to Thailand, the foreign purchaser needs to include in the transfer instructions that the purpose is to buy a condominium unit.
In addition, a foreigner who has Thai baht in his non-resident bank account or who has foreign currency bank account in Thailand may withdraw money from such account for the payment of the condominium unit. In this case, a withdrawal slip and bank certificate issued by the bank confirming that the funds were withdrawn from those accounts to buy a condominium. These documents will be required to be shown at the Land Department.
Foreigners with Thai spouses who are buying a condominium jointly must comply with foreign ownership regulations and transfer all funds to purchase a condominium from overseas.
Foreigners have Permanent Resident status in Thailand do not need to transfer funds from overseas.
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