How to Transfer Money to Thailand for a Condo Purchase as a Foreigner

Introduction

Buying a condo in Thailand as a foreigner requires not only choosing the right property but also transferring money correctly. To register the condominium under your name, funds must be transferred from abroad with the purpose clearly stated as “for purchasing a condominium in Thailand.” Without proper transfer and documentation (FET form), ownership cannot be registered.

At AllThai Luxury, we guide our clients through every step of this process — from choosing the property to safely transferring funds.

1. Bank Transfers (SWIFT)

The most common way to send money for a condo purchase is through an international bank transfer (SWIFT).

Key Points:

• Send money in a major foreign currency (USD, EUR, GBP).

• Clearly state the purpose: “For the purchase of condominium in Thailand under [Your Name].”

• Your name as the sender must match the buyer’s name on the Sales & Purchase Agreement (SPA).

• Upon receiving the transfer, the Thai bank issues the Foreign Exchange Transaction Form (FET), which is mandatory for the Land Office.

Pros: Secure and accepted by all developers and the Land Office.Cons: Bank fees on both sending and receiving sides.

2. Transferring via Cryptocurrency

With the growing popularity of digital assets, some buyers choose to convert part of their holdings into fiat to purchase property.

How it works:

• Funds are transferred in cryptocurrency (e.g., USDT, BTC, ETH) to an exchange or licensed financial intermediary.

• Converted into foreign currency (USD/EUR) and then transferred via SWIFT into a Thai bank account.

• Bank issues an FET form upon receipt.

Pros: Fast and can be cost-effective, especially for large transfers.Cons: Requires compliance with exchange regulations, and not all developers accept crypto-related transfers directly.

👉 At AllThai Luxury, we advise our clients on the safest way to structure such transfers to ensure all legal requirements are met.

3. Opening a Thai Bank Account

Some foreigners prefer to open a personal bank account in Thailand before purchasing.

Process:

• Transfer funds from abroad into your own Thai account.

• Ensure the transfer is foreign-sourced (not local).

• Use this account to pay the developer or property owner.

Pros: Convenient for making progress payments or handling additional costs (furniture, taxes, maintenance).Cons: Not always possible to open an account without a visa and supporting documents.

4. Important Documentation (FET Form)

Regardless of the transfer method, the FET form is the most important document.

• Issued by the receiving Thai bank for transfers above USD 50,000.

• Must state that the funds were remitted for the purpose of buying a condominium.

• Submitted at the Land Office during title deed (Chanote) transfer.

Without this form, the Land Office will not allow registration under a foreigner’s name.

Tips for a Smooth Transfer

• Send money in one or two large transfers rather than many small ones.

• Always double-check the beneficiary details with the developer or seller.

• Keep SWIFT receipts and confirm the bank will issue an FET.

• Ensure the sender’s name matches the buyer’s name in the contract.

  
  

Conclusion: How to Transfer Money to Thailand for a Condo

Transferring money for a condo purchase in Thailand may seem complicated, but with the right preparation it is a straightforward and secure process.

Whether you choose a traditional SWIFT bank transfer, crypto conversion, or transfer into your Thai account, the key is to ensure that all documentation (especially the FET form) is correct.

At AllThai Luxury, we assist our clients at every step — from selecting the right property to safely transferring funds and completing ownership registration.

👉 Contact us today, and we’ll make sure your property purchase in Pattaya is 100% smooth and stress-free.