Condominium Buyer's Guide

According to Thai law, foreigners are permitted to take ownership of condominium units not exceeding 49 percent of the total saleable area. The remaining 51 percent must be owned by either Thai nationals or majority owned Thai companies.

For non-resident foreigners to be eligible to purchase a condominium unit in Thailand they must present proof to the Department of Land that funds have been remitted from overseas in foreign currency. Without such proof, the Department of Land will not register the transfer of ownership to the foreign buyer.

Proof of Funds

For amount transferred greater than US$20,000, bank will issue a “Foreign Exchange Transaction Form” (FET).

For amount transferred less than $20,000, bank will issue a credit note, which may be presented, with the Confirmation Letter from the bank.

The buyer has to request by telephone or by written notice, according to the procedure of the relevant local bank, to the local bank to obtain the above mentioned documents as soon as the funds has been transferred. The bank will then issue requested documents to you.

Presently, either the FET or the Confirmation Letter from the bank can be used as evidence when providing proof of funds remittance at the Department of Land. Without providing one of the documents, the Department of Land will not register the transfer of the condominium unit into your name.

Money Transfer

There are 2 options to transfer money to the developer; you can choose whichever is most convenient as follows:

Option 1
  • If you have a bank account in Thailand, transfer the funds into your local bank account, and execute a domestic transfer of this amount onwards, to the Developer. With this option, you will have to contact bank to obtain the documents by yourself.
Option 2
  • Transfer the funds directly to the Developer’s Bank account or prepare bank draft payable to Developer. With this option, the developer will contact bank to obtain the documents on your behalf.
For your convenience, we strongly recommend that you should transfer the funds directly to the Developer’s bank account.

Please include both overseas and beneficiary bank charges of each payment into the amount you transfer in order to avoid the shortfall when the money arrives local bank account.

The final total amount of money as shown in documents must cover the net price of the condominium unit bought.

To obtain FET or the Confirmation Letter from the bank, please ensure that you follow the instruction below.
  • Remittances must be sent in exactly (“to the letter”) the same name as the buyer. If the buyers are two individuals, then two names should appear on the contract and two separate remittances should be made by such two persons, in equal amount.
  • Transfer of funds MUST be made in foreign currency only and not in Thai baht. The conversion into Thai baht will be done by the beneficiary bank account.
  • The purpose of the remittance MUST be stated on the remittance advice. This should be “For the purchaser of buying a condominium, unit number…… in Abstracts Project.”


Account Details of the Developer

Sukhumvit 66 / 1

Account Name : BTS Group Holdings Public Company Limited
Savings Account Number : 348-1-20499-2
Bank Name : Bank of Ayudhya Public Company Limited
Bank Branch : Viphavadi – Rangsit Road (Sun Towers)
Bank Address : 123 Sun Tower (B) Building, Viphavadi – Rangsit Road, Jompol, Jatujak, Bangkok 10900
Swift Code : AYUDTHBK
Company Telephone Number : 02-273-8515
Company Address : 21 Soi Choei Phuang, Viphavadi – Rangsit Road, Jompol, Jatujak, Bangkok 10900 THAILAND


Debit Advice
After each funds transfer, please fax or e-mail the debit advice to our sales office for our records. Our fax no is +66-2-2738516 and our e-mail address is sales@abstractscitizen.com

Payment Adjustment
The conversion into Thai baht may result in the difference either a surplus or a shortfall amount regarding each payment. As such, the balance of all the payments will be adjusted in the final payment due upon registration of the ownership of condominium.

Transfer of Ownership
Prior to the transfer of ownership, the developer shall inform the buyer of the documents to be prepared as well as the settlement amount (final payment after adjustment, transfer fee, sinking fund, common fee, water and electricity meter deposit, etc.) to assist you of the transfer process.

The details as stated above are the preliminary steps that guide you when you desire to buy a condominium in Thailand. Please ask for more information and details from our Sales Representative.

Phahonyothin Park

Account Name : Nuvo Line Agency Company Limited
Savings Account Number : 118-5-12949-9
Bank Name : Bangkok Bank Public Company Limited
Bank Branch : Silom
Bank Address : 300 Silom Rd., Suriyawong, Bangrak, Bangkok 10500
Swift Code : BKKBTHBK
Company Telephone Number : 02-273-8515
Company Address : 21 Soi Choei Phuang, Viphavadi – Rangsit Road, Jompol, Jatujak, Bangkok 10900 THAILAND


Debit Advice
After each funds transfer, please fax or e-mail the debit advice to our sales office for our records. Our fax no is +66-2-5139774 and our e-mail address is sales@abstractscitizen.com

Payment Adjustment
The conversion into Thai baht may result in the difference either a surplus or a shortfall amount regarding each payment. As such, the balance of all the payments will be adjusted in the final payment due upon registration of the ownership of condominium.

Transfer of Ownership
Prior to the transfer of ownership, the developer shall inform the buyer of the documents to be prepared as well as the settlement amount (final payment after adjustment, transfer fee, sinking fund, common fee, water and electricity meter deposit, etc.) to assist you of the transfer process.

The details as stated above are the preliminary steps that guide you when you desire to buy a condominium in Thailand. Please ask for more information and details from our Sales Representative.

* Disclaimer: The above information is provided as a guidance only. Buyers should independently satisfy themselves as to the legal requirements.