Would appreciate some input as I have a friend visiting from Europe, he wants to buy a condominium unit, already found the place but he needs to have a bank account to transfer funds to complete the purchase, must banks he visited they keep denying him the opening of an account, he has sales contract, wants to invest the money but it appears Thailand doesn't want money, what's the easy best bank to deal with in such a situation

The buyer does not need a Thai bank account to buy a condo in Thailand. Transfer to his lawyer's client account (foreign transfer must state reason such as "for purchase of property in Thailand" or similar or more specific such as condo address). The lawyer can then do the purchase and title transfer whilst fulfilling all the Land Department requirements. Both times I purchased in Thailand, this is what I did and the money never touched my thai bank account. Also, I wasn't present on either transaction as the lawyer did everything using my Power of Attorney.

 

21 minutes ago, soi3eddie said:

The buyer does not need a Thai bank account to buy a condo in Thailand. Transfer to his lawyer's client account (foreign transfer must state reason such as "for purchase of property in Thailand" or similar or more specific such as condo address). The lawyer can then do the purchase and title transfer whilst fulfilling all the Land Department requirements. Both times I purchased in Thailand, this is what I did and the money never touched my thai bank account. Also, I wasn't present on either transaction as the lawyer did everything using my Power of Attorney.

 

thanks, good to know and will tell him the option

 

1 hour ago, soi3eddie said:

The buyer does not need a Thai bank account to buy a condo in Thailand. Transfer to his lawyer's client account (foreign transfer must state reason such as "for purchase of property in Thailand" or similar or more specific such as condo address). The lawyer can then do the purchase and title transfer whilst fulfilling all the Land Department requirements. Both times I purchased in Thailand, this is what I did and the money never touched my thai bank account. Also, I wasn't present on either transaction as the lawyer did everything using my Power of Attorney.

 

it appears that option has been explained to him, however he still needs bank account in Thailand to pay fees, electricity, water, property taxes and so forth, thus his decision to look for a bank here.

4 hours ago, Mavideol said:

it appears that option has been explained to him, however he still needs bank account in Thailand to pay fees, electricity, water, property taxes and so forth, thus his decision to look for a bank here.

Once he's in Thailand with a long term visa, opening a bank account "should" be much easier.

 

6 hours ago, Mavideol said:

it appears Thailand doesn't want money,

Great conclusion,  you are really using your mental powers

5 hours ago, Mavideol said:

it appears that option has been explained to him, however he still needs bank account in Thailand to pay fees, electricity, water, property taxes and so forth, thus his decision to look for a bank here.

 

He can look but he won't find

On 3/4/2025 at 12:45 PM, Mavideol said:

Would appreciate some input as I have a friend visiting from Europe, he wants to buy a condominium unit, already found the place but he needs to have a bank account to transfer funds to complete the purchase, must banks he visited they keep denying him the opening of an account, he has sales contract, wants to invest the money but it appears Thailand doesn't want money, what's the easy best bank to deal with in such a situation

Buying a condo in Thailand is not an investment it is a gamble. And putting money in the bank at 1% and paying tax until that is not an investment really either.

On 3/4/2025 at 12:45 PM, Mavideol said:

Would appreciate some input as I have a friend visiting from Europe, he wants to buy a condominium unit, already found the place but he needs to have a bank account to transfer funds to complete the purchase, must banks he visited they keep denying him the opening of an account, he has sales contract, wants to invest the money but it appears Thailand doesn't want money, what's the easy best bank to deal with in such a situation

Sounds like he's jumping too fast to buy a condo

Why don't you tell him to live here for a while to get his feet on the ground

6 months after buying the condo he may not like it where he is

By renting you can just walk away

With so many new condo units on the market it's not easy to sell a used one unless it's in a very special location

Didnt you red, at this time , it is almost impossible to open any bank account.

This due to a big investigation of laundering and criminal money.

Thailand shut down possibility of opening a bank account.

Just here visiting and he already wants to buy a condo.  Sounds like he's rushing into things.  Did he meet her in a bar?

Agents can do many things that we can not.  Approach a reputable one, and see if they can do it for you.