Finance in Thailand

Thai citizens have full access to the country's financial services, including:

• Opening and operating personal or business bank accounts

• Accessing loans and credit facilities

• Investing in Thai and international financial markets

• Participating in government bonds, mutual funds, and retirement schemes

As a Thai national, you are entitled to utilise the same finacnial infreastructure as any other citizen, whether for personal wealth management or business development.

Foreigners can also participate in Thailand's financial system, though certain restirictions and documentation requirements apply.

Foreingers are allowed to open personal and business bank accounts in Thailand. To do so, you will typically need:

• A valid passport

• A valid visa (e.g. non-immigrant or long-stay visa)

• A Thai address or residence certificate

• Occasionally, a work permit or letter of employment

Banking policies may vary by institution and branch, so it's advisable to confirm requirements beforehand. Some banks are more foreigner-friendly than others.

If a foreigner is purchasing condominium property in Thailand, the funds must be transferred from overseas in foreign currency and then converted into Thai Baht upon arrival. This process is regulated bu the Bank of Thailand and requires:

• Transfers made under the buyer's name

• Purpose clearly indicated as "for purchase of property in Thailand"

• A Foreign Exchange Transation Form (FET form) or quivalent proof from the receiving bank

This documentation is essential when registering property ownership at the Land Department and should be arranged before finalising any translation.

Foreigners have limited access to mortgage financing in Thailand. While most banks prioritse Thai nationals and permanent residents, a few banks offer home loans to foreigners under stricter conditions. Key considerations include:

• Loans are usually offered only for condominiums, not land or houses

• Higher minimum down payments, typically 30%-50%

• Proof of income or assets may be required

• Interest rates may be higher than for Thai nationals

• Loans are often granted in foreing currency or require foreign income sources

Some international banks with branches in Thailand are more likely to cater to foreign clients. If you're considering finacng property as a foreigner, we recommend consulting with one of our finacial advisors to explore available options

Whether you're a Thai national or a foreign resident, we can connect you with trusted:

• Banks and financial institutions

• Legal and finacial advisors

• Property financing experts

• Investment consultants

Contact Us for perosnalised guidance on banking, investing or financing in Thailand