Payment instruction for foreign purchaser of condominium in Thailand
Payment instruction for foreign purchaser of condominium in Thailand
Foreign Exchange Transaction Certificate InstructionsTo Obtain a "Foreign Exchange Transaction" Certificate
The name of the remitter must be the same as the purchaser.
The money is transferred as foreign currency. Do not convert in Thai Baht before making a transfer. The conversion into Thai Baht will be done by the beneficiary bank.
Please indicate in the transfer instructions that the purpose of transfer is "To purchase a condominium Unit No. 999/999. at Project name" Please use the exact wording above in order to avoid any misinterpretation by the Land Department. For example, the word "apartment", a term which is frequently used in other countries, has different meaning from "condominium".
Please include both overseas and beneficiary bank charges for each payment.
PaymentBahtPaymentBaht 17,200,000.-Assume bank charges US$ 200Baht 8,000.-TotalBaht 17,208,000.-
Assume exchange rate @ 33.11 Baht = 1 US$
Amount to transfer US$ 519,722.-
Payment Adjustment
The conversion into Thai baht may result in the difference either a surplus or a shortfall amount regarding each payment.
The final payment needs to be paid by a cashier cheque which will be exchanged with the condominium's title deed on the date of transfer of ownership.
We recommend setting up a non-resident bank account at a local bank in Thailand for the purpose of issuing a cashier cheque.
We hope the above information is useful and if you have any other queries, please feel free to ask our sales representative.
