Buying Property in Thailand: How to Move Your Money Safely
Last updated: May 2026 • 10 min read
Quick answer
For a Thai condo purchase, make sure the unit is inside the foreign quota, send the purchase funds from overseas in foreign currency, and keep the receiving bank's foreign-exchange evidence. The lowest-cost transfer route is not enough on its own; the documentation trail matters.
Buying a condo in Thailand is the dream for many British expats and investors. But moving £50,000-£200,000+ overseas for a property purchase is very different from sending a few hundred quid to your mates. Get it wrong and you could lose thousands to exchange rate markups — or worse, lose the lot to a scam.
Foreign Ownership Rules
Foreigners can own qualifying condominium units freehold in Thailand, but only within the building's foreign quota. Land and villa structures are a different legal category and need specialist legal advice before you move money. Key condo rules:
- Foreign ownership cannot exceed 49% of the total condominium space in the building
- The condominium juristic person should confirm the foreign quota before transfer
- Purchase funds should be remitted from overseas in foreign currency and recorded by the receiving Thai bank
- Ask the Thai bank and your lawyer what evidence they need before you send: this may be a Foreign Exchange Transaction form, credit advice, or another bank confirmation depending on the transfer and local practice
The Money Transfer Process
For property purchases, you usually want a route that can handle documentation, purpose codes, and a large transfer without surprises. A routine low-cost provider can be a useful price baseline, but the final decision should come from a fresh quote and documentation check.
Steps:
- Contact the provider or broker and explain it is for a Thai property purchase
- Provide passport, proof of funds, seller's bank details, and purchase agreement
- Ask whether a rate lock or forward contract is available, and whether it fits your completion timetable
- Confirm the receiving bank will record the payment as foreign exchange for the condo purchase
- Get the bank evidence before the Land Department transfer appointment
Provider Comparison for Property Transfers
The current routine-transfer benchmark is not a property-transfer quote. It is a baseline for seeing who publishes a competitive public GBP/THB price before you ask for a larger, documented transfer quote.
| Route | Current public status | Where it fits | Check before sending |
|---|---|---|---|
| Currencies Direct | Quote required | Dealer-led quote for larger payments. | Ask directly about purpose codes, documentation, settlement route, and whether the Thai bank will issue the required purchase paperwork. |
| OFX | Quote required | Large-payment provider where the customer rate needs a quote. | OFX does not publish a comparable public £1,000 customer quote in the current benchmark. |
| Wise | ฿43,542 | Best current public routine-transfer quote. | Useful as a price baseline, but property purchases need documentation checks before relying on any route. |
| Your UK bank | ฿41,842 | Convenient but usually expensive. | Only worth considering if the documentation path matters more than the rate. |
How Much You'll Lose to the Spread
At the current mid-market reference, 5 million THB is about £114,105. Every 1% of hidden spread on a transfer that size costs roughly £1,141 before fixed fees or receiving-bank friction.
That is why a property transfer should be quoted directly. A small-looking percentage difference can pay for furniture, legal checks, or several months of building fees.
Escrow: Is Your Money Safe?
Thailand has an escrow law and licensed escrow agents, but escrow is not the default in ordinary condo purchases. In many off-plan purchases, buyers still pay the developer directly unless escrow is specifically agreed. Protect yourself:
- Only buy from established developers with completed projects
- If escrow is offered, confirm the licensed escrow agent, account terms, release conditions, and who pays the fees
- Do not treat an ordinary developer bank account as escrow
- Use an independent Thai property lawyer to check title, quota, contract, payment schedule, and closing mechanics
- Do not transfer the full amount until the title deed and transfer path have been checked
A Thai property lawyer is a small cost relative to the transfer size. Ask for a fixed quote and a written scope before you send funds.
Staged Payments for Off-Plan
Off-plan payments are often staged through a reservation fee, down payment, construction instalments, and a final completion payment. The percentages vary by developer and contract. Each overseas instalment still needs the right bank evidence if it forms part of the foreign freehold purchase price.
Tax on Property Purchase
Do not rely on a single percentage. The official fee stack can include a 2% transfer fee, 0.5% stamp duty, 3.3% specific business tax in relevant cases, and withholding tax. The sale contract decides who pays what, so have your lawyer calculate the buyer-side cash needed before completion.