How to transfer money to Thailand when buying a property.

If you are considering buying a property in Phuket for living or investing, there is a question of transferring funds. This is especially true for Russian citizens who want to buy an apartment or a house in Thailand. Let's talk about the schemes that are used in practice.

Bank transfers: a basic option for real estate transactions

For the purchase of real estate in Phuket, a bank transfer through international channels remains the most reliable. The money is sent from the buyer's account directly to the account of the developer or the law firm.

What does this give the buyer:

1. official route of funds;
2. the ability to specify the purpose of the payment under the contract;
3. getting the FET help required for registration of a freehold.

It is important to keep in mind that not all banks in Russia and the CIS are currently working with such transfers. In addition, the bank may request a contract and confirmation of the purpose of the payment, and the total amount depends on the exchange rate and fees. This method is most often used in transactions on the primary market and in the purchase of objects in full ownership.

International transfer services: for partial payments and personal expenses

Online international transfer services are suitable for situations where registration of ownership rights or confirmation of the source of funds is not required.

When it is appropriate:

1. booking payment;
2. transfer of funds to relatives;
3. coverage of household expenses in Thailand.

Restrictions include limits on amounts and the fact that not all services work stably with Russia and other CIS countries. Such services are rarely used to pay for real estate.

Payment applications

Some applications allow you to send money to Thailand from international payment system cards directly to a Thai account.

Practical benefits:

1. no foreign bank account required;
2. the course and status of the operation are visible in advance;
3. suitable for transferring funds to your own account in Thailand.

This option is often used after opening an account within the country to replenish the balance and make further payments, for example, to pay utility bills.

Cash transfers and pick-up points

There are money transfer systems for receiving cash in Thailand, but they are rarely used for real estate transactions, and that's why:

1. amount limits;
2. fees are higher than bank fees;
3. no supporting documents for transaction registration.

This format may be suitable for urgent personal tasks, but not for investment purchases.

In practice, a cryptocurrency-related format is used. You can pay with crypto for almost any object, and the scheme looks like this: the buyer transfers cash rubles or any currency to an agent or partner in Russia, after which the funds are converted into cryptocurrency and only then transferred to the developer in Thailand in baht. This method is chosen because of the speed and convenience, which is important given the existing difficulties with international transfers.

What is important to know about accounts and money inside Thailand

The buyer may need a Thai bank account to complete the transaction. It is used for:

1. crediting funds;
2. getting help FET;
3. further payments for the object.

The account can be opened if you have a long-term visa. In some cases, banks meet the buyers of real estate halfway and open an account under the contract for the object, but the conditions depend on the specific branch.