Nuances of opening bank accounts in Thailand

We draw the attention of all who are going to Thailand with the purpose of buying an apartment in a condominium: the opening of bank accounts with a stamp for 30 days to date is technically impossible.

According to Art. 19 ter (5) of the Condominium Act of Thailand, B.E.2522(1979) when transferring ownership of an apartment in a condominium, the buyer must to provide a document confirming the money transfer to Thailand from abroad in an amount equivalent to the price of an apartment in the form of Tor Tor 3. To receive the document, the buyer must open bank account in Thailand, transfer to the account necessary amount from your bank account abroad, and after bank receive this money, to inform the bank about the purpose of payment.

Thus, in accordance with the Condominium Act, every buyer of an apartment must open a bank account in Thailand before buying.

In turn, to open a bank account it is necessary to obtain a certificate of residence (Certificate of residence) in the immigration service. To date, the immigration service does not issue certificates to tourists staying in Thailand on the basis of a 30-day stamp on entry.

Thus, if you want to purchase an apartment or open a bank account for other purposes in Thailand, we recommend that you obtain a tourist visa in advance.

For all questions of opening accounts, obtaining Tor Tor 3 and registering sales contracts in the Land Department, please contact: + 66-94-886-7492