thailand
Ask question
This is NOT an official government website. We are an independent resource providing information and assistance to travelers.

Do I need a retirement visa to buy a condo and open a bank account in Thailand?

Thailand Visa RulesCondo PurchaseBank Account RequirementsRetirement VisaNon-O VisaExpat LivingReal Estate Investment in Thailand
Oct 31, 2023
a year ago
Tamar ***********
ORIGINAL POSTER
Hi,

I’ve been told today that I can’t buy a condo unless I have a retirement visa because I can’t open a bank account without a retirement visa. Is this correct? Thanks in advance.

Tamar
5,762
views
7
likes
174
all likes
109
replies
1
images
39
users
TLDR : Answer Summary
The claim that a retirement visa is necessary to purchase a condo in Thailand and to open a bank account is incorrect. Numerous expatriates have shared experiences where they managed to buy condos or open bank accounts under various visa circumstances, including tourist visas. While having a retirement visa may make some processes easier, it is not a mandatory requirement. Discussion reflects diverse experiences with banking policies, particularly recent changes affecting applicants with short-term visas. Most importantly, foreigners can buy property within the quota limitations without needing a Thai spouse or specific visa types.
NON-O RETIREMENT VISA RESOURCES / SERVICES
  • Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
  • For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
  • Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
  • Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
Pelle Eriksson
Pelle Eriksson★★★★★
Absolutely Bangkok's best service I highly...
recently on Facebook
Luca G.
Luca G.★★★★★
I used this agency for my DTV Visa...
recently on Google
Trusted Retirement Visa Agent
OVER 100,000 EXPATS SERVED
#1 VISA AGENT IN THAILAND
Jacobus ********************
Take,s me 3 day's to open a account. You have too have a proof residence in Thailand. Have a paper from the family, and the you go to immigration to get the real proof of residence. Take,s me 3 day's
a year ago
Like
Reply
Jacobus ********************
You cannot buy a condo if you don,t have a thai spouse, and the place will not be on you're name, varang cannot buy property in Thailand
a year ago
Like
Reply
Graham *******
@Jacobus *******************
 Total BS! A Farang can buy a condo in his/her own name if it is in foreign quota.
a year ago
Like
Reply
Bob **********
@Jacobus *******************
 you are so wrong you can purchase a condo as part of the 49% of the farang quota
a year ago
Like
Reply
Jacobus ********************
@Bob *********
 oke, now i know. Thanks
a year ago
Like
Reply
Reply to
Jacobus ********************
Reply
John-Paul ******
Rubbish! Not true.
a year ago
Like
Reply
Rick ********
NO
a year ago
Like
Reply
J *************************
I've sent you a PM.
a year ago
Like
Reply
Brad **********
🤔 Just open a bank Acc!
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Brad *********
 - what visa do you have and where did you open it?
a year ago
Like
Reply
Robert ***********
@Brad *********
 Not that easy if you don't have a long stay visa
a year ago
Like
Reply
Reply to
Robert ***********
Reply
Alain ***********
I also tried opening a bank account with a tourist visa a few months ago. I tried several banks including Bangkok Bank at two or three different locations. I thought showing a hundred thousand bath in cash would help but it didn't. No Lt visa no bank account. It was getting ridiculous
a year ago
Like
Reply
Sharron *******
I knoiw they just changed the banking rules.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Alain **********
 - seems like a Catch 22 situation!
a year ago
Like
Reply
Jacob ********
@Tamar **********
 It is it took me a few tries but was able to open an account about six years ago with a tourist visa. Having said that I have a bad feeling by New Years some major changes coming with all visas.
a year ago
Like
Reply
Reply to
Jacob ********
Reply
Sharron *******
and I was told you can't get a retirement visa without a bank account??
a year ago
Like
Reply
Robert ***********
@Sharron ******
 You can get a retirement visa before you leave home with different requirements.
a year ago
Like
Reply
Graham *******
@Sharron ******
 keep trying at other banks, if still fails use an agent, be aware Thailand is enforcing its laws but not consistently.
a year ago
Like
Reply
Reply to
Graham *******
Reply
Bill *******
Not correct i dont have a retirement visa but i have a very healthy bank account in thatiland
a year ago
Like
Reply
Ken ******
there are different opinion on real estate as investment in thailand (many youtubers on this subject), also thailand going to introduce new worldwide tax next year. Not sure if impact on people interest to retire here and the housing damand or price.
a year ago
Like
Reply
Ken ******
avoid living in high risk big flood area and lower floor or near highway to avoid noise
a year ago
Like
Reply
Neil ***************
@Ken *****
 and avoid the top floor your gf will probably push you over the balcony…5555
a year ago
Like
Reply
Ken ******
@Neil **************
 55 no problem in very high risk flood area like back in 2011, anyway thai girls are known to be cute and wild (which i love) but not that daring
a year ago
Like
Reply
Reply to
Ken ******
Reply
Charles **********
I bought my condo in 2018 and only opened my bank account earlier this year
a year ago
Like
Reply
Steve **********
Nope...not true !
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
Thanks everyone for your input. It seems that there’s quite a variety of opinions. I’ll just have to give it a go and see how it goes! Will let you know 😃
a year ago
Like
Reply
Lauren ******************
No it's not correct!
a year ago
Like
Reply
Iain *********
Don't you need to deposit money into a Thai bank account as a requirement for a Retirement Visa?
a year ago
Like
Reply
Charles **********
@Iain ********
 no, I just showed it has the equivalent of THB 800k in my UAE bank account and then I got my O-A visa
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Charles *********
 - what’s an O-A visa?
a year ago
Like
Reply
Suzanne ******
@Tamar **********
 retirement visa with insurance requirements, better to get a NoN O visa
a year ago
Like
Reply
Reply to
Suzanne ******
Reply
Tamar ***********
ORIGINAL POSTER
@Iain ********
 -exactly! It’s a catch 22 situation
a year ago
Like
Reply
Reply to
Tamar ***********
Reply
William ****************
No.no.no
a year ago
Like
Reply
Michel *************
I opened my bank account after buying a condo (down payment)
a year ago
Like
Reply
Sei *****
I have spend 6 months to open an account. really hard.
a year ago
Like
Reply
Trigger *********
Go to Bangkok bank

You should be able to open ok

If not you might need a few docs

But should be no problems
a year ago
Like
Reply
Robert ***********
@Trigger ********
 Not anymore on a tourist visa.
a year ago
Like
Reply
Reply to
Robert ***********
Reply
Steve *******
Totally Incorrect. You can open a bank account on any visa, in fact you can even open one without a visa.
a year ago
Like
Reply
Robert ***********
@Steve ******
 No longer true. Banking rules in country changed in March. They will not give accounts to tourist visa holders or VOA.
a year ago
Like
Reply
Iain *********
@Steve ******
 at which bank(s)? I've tried many in Chiang Mai and Koh Samui with my METV visa and all tell me I need at least a Non-O Visa.
a year ago
Like
Reply
Reply to
Iain *********
Reply
Kuan ******
They need a residential address .. for money laundering rules mandated by bank of Thailand .. quite difficult to go around .. maybe there are local agents who can do it ..or u can rent a place first
a year ago
Like
Reply
Dylan *********
********************************************************************************
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Dylan ********
 - thank you
a year ago
Like
Reply
Amel *********
@Dylan ********
 did I read wrong - under Opening a Bank Account in Bangkok - it says: (Service not available at this time)...
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Amel ********
 - that’s just for Bangkok though. It looks like it’s still available in Chiang Mai
a year ago
Like
Reply
Dylan *********
That's a bummer
a year ago
Like
Reply
Reply to
Dylan *********
Reply
Mark ***************
I did exactly what you want to do. This year.

Entered via a tourist visa

Rented a condo in HuaHin with full rental agreement

Rental agreement is confirmed by the immigration in HuaHin

Got a bank account at Bangkok Bank

Deposited 800kThb and I will apply for NonO visa which is the precursor to a retirement visa
a year ago
Like
Reply
Robert ***********
@Mark **************
 I bet you did this before April 1st.
a year ago
Like
Reply
Suzanne ******
@Mark **************
 thats our plan

I think if u show bank your TM30 it helps
a year ago
Like
Reply
Mark ***************
@Suzanne *****
 the bank wanted formal proof of residence from immigration
a year ago
Like
Reply
Reply to
Mark ***************
Reply
Joshua **********
Not true. I didn’t have a visa or bank account when I got my first condo here.
a year ago
Like
Reply
Robert ***********
Good luck if you don't have a long term visa.

I hit 11 bank branches in Phuket over the past 12 days. Bangkok Bank, SCB and Kasikorn. All said no when I showed them my passport and METV.

At one Bangkok branch in Kathu I was shown a memo that said due to changes in regulations the bank will no longer open accounts for holders of Tourist visas. The paper was dated April of this year.

Good luck.
a year ago
Like
Reply
Mark ***********
@Robert **********
 very very smart policy, considering the fact that they're looking for affluent investors and wealthy expats. What can one say? They continue to astound with their lack do vision and smarts.
a year ago
Like
Reply
Robert ***********
@Mark **********
 That makes zero sense especially because I can get a bank account with a 90 day ED visa. Nothing "affluent" with that.
a year ago
Like
Reply
Reply to
Robert ***********
Reply
Tamar ***********
ORIGINAL POSTER
@Robert **********
 - thanks. That sounds up to date
a year ago
Like
Reply
Reply to
Tamar ***********
Reply
Stephen ********
I bought a condo nearly 5 years ago on without a retirement visa. I’m from the U.K.. I transferred my funds to my lawyer who held it in an escrow account. Very easy process. Lawyer then distributes the funds. I also didn’t have a bank account but opened one straight away as soon as I was the owner. Good luck
a year ago
Like
Reply
Martin *********
No
a year ago
Like
Reply
Kathalyn *******
No
a year ago
Like
Reply
J ******************
Certainly easier if you have a Thai speaker with you
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@J *****************
 - good thought 👍
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@J *****************
 - yep!
a year ago
Like
Reply
Reply to
Tamar ***********
Reply
Bob **********
Just pay an agent to open one for you and don’t consider it an investment
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Bob *********
 - what sort of agent? Can you recommend anyone?
a year ago
Like
Reply
Bob **********
@Tamar **********
 any visa agent can get you an account
a year ago
Like
Reply
Bart ***********
@Tamar **********
 Siam Legal in Bangkok (I paid 5000 Bath) only a tourist visa or visa exempt
a year ago
Like
Reply
Brandon ************
@Bart **********
 Siam Legal no longer offers bank account services unless you also use them for a visa or extension
a year ago
Like
Reply
Reply to
Brandon ************
Reply
Wayne **********
Not true, I bought mine before having a bank account. Just depends on how you want to pay the seller, in country, overseas etc
a year ago
Like
Reply
Graham *******
@Wayne *********
 Remember, if you want to sell again and take the money out, if you buy overseas then u can only sell overseas! You can only take out what u brought in.
a year ago
Like
Reply
Reply to
Graham *******
Reply
David *******
No it’s not true.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@David ******
 - do you mean that I don’t need a retirement visa?
a year ago
Like
Reply
David *******
@Tamar **********
 No you don’t. It might take patience, buying unnecessary insurance or paying an agent but there’s no problem with you getting a bank account.

You also don’t necessarily need a bank account to buy a condo. There are ways around it.
a year ago
Like
Reply
Reply to
David *******
Reply
Graham *******
I am uncertain how u would pay for your condo. When I bought mine I had to provide a bankers draft. Some how, I am told, people are opening bank accounts without visa.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Graham ******
 - I don’t think transferring money is a problem but I need an account to transfer it to
a year ago
Like
Reply
Graham *******
@Tamar **********
 No, you need a bank account to draw the bankers draft against. Also be aware that if u want to sell and repatriate your money you will have to prove where the money came from.
a year ago
Like
Reply
John *********
@Graham ******
 I recently bought a condo. Paid to the developer by bank transfer in stages from my bank to theirs. In the middle of the process I got a Thai mobile phone and opened a bank account with the developer stating to the bank that I was buying. Have just been approved by ID for a 10 year retiree visa (LTR).
a year ago
Like
Reply
Graham *******
@John ********
 Congrats, down side is as of 1st jan 2024 we are all paying income tax in Thailand. Gonna be a game changer.
a year ago
Like
Reply
John *********
@Graham ******
 not sure about that yet. Need to see the details first.
a year ago
Like
Reply
Graham *******
@John ********
 Yes, the devil is in the detail!
a year ago
Like
Reply
Reply to
Graham *******
Reply
Wayne *********
I bought my condos on visa exempt. Didn't need bank account to do it either
a year ago
Like
Reply
Wayne *********
I work mining and work 2 weeks in Australia every month and live Bangkok 2 weeks every month
a year ago
Like
Reply
John ********
@Wayne ********
 You paid with cash?
a year ago
Like
Reply
Wayne *********
@John *******
 yes
a year ago
Like
Reply
John ********
@Wayne ********
 Must either be an inexpensive Condo or you make many trips back & forth from your home.
a year ago
Like
Reply
Reply to
John ********
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - two more questions if I may- when did you buy your condos? And where? I’m asking because the rules seem to change and I’m looking at buying in Chiang Mai.
a year ago
Like
Reply
Wayne *********
@Tamar **********
 1st one 11years ago, 2nd one 7 years ago and 3rd one 5 years ago. All in Bangkok
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 -aaah - could be different now and here in CM
a year ago
Like
Reply
Wayne *********
@Tamar **********
 could just be the people your dealing with as well.
a year ago
Like
Reply
Reply to
Wayne *********
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - thanks for your reply. What do you mean by “visa exempt “?
a year ago
Like
Reply
Wayne *********
@Tamar **********
 visa exempt means no visa. Australian come to Thailand on a no visa required system. We get a 30 day stamp in our passport.
a year ago
Like
Reply
Wayne *********
@Tamar **********
 transferred the amount straight to the sellers account via torfx
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - that makes total sense.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - interesting! Is that a similar service to wise?
a year ago
Like
Reply
Wayne *********
@Tamar **********
 yes, I gave them the copy of my offer to purchase and they arranged everything
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - thanks so much for your input 😃👍
a year ago
Like
Reply
Tony *********
@Tamar **********
 I am in the middle of buying on a payment scheme. Grand Solaire.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - how did you buy your condos without a bank account?
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Wayne ********
 - indeed we do!( I’m an Aussie)
a year ago
Like
Reply
Reply to
Tamar ***********
Reply
Brandon ************
You can open a bank account on any type of visa, but some are more difficult than others.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Brandon ***********
 -what do you mean by that?
a year ago
Like
Reply
Brandon ************
That's between you and the bank. You have to go to banks and ask what their requirements are. Sometimes it can take 20-30 bank branches before you find one that will do it. Otherwise you'll need to find an agent to open one for you.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Brandon ***********
 - can you recommend an agent?
a year ago
Like
Reply
Malcolm *******
@Tamar **********
 In Pattaya , try MOTS
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Malcolm ******
 - thanks but I’m in Chiang Mai
a year ago
Like
Reply
Jack ****************
@Tamar **********
 just know when they say you need to buy insurance they are lying to get you to spend money and earn a commission. Just go somewhere else until you find one that doesn't have shit instead of ethics.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Jack ***************
 - thanks
a year ago
Like
Reply
Brandon ************
@Tamar **********
 sorry I'm not familiar with agents
a year ago
Like
Reply
Reply to
Brandon ************
Reply
Brandon ************
@Tamar **********
 Exactly what it sounds like. It's easier to open a bank account on a retirement visa than it is on a tourist visa.
a year ago
Like
Reply
Tamar ***********
ORIGINAL POSTER
@Brandon ***********
 - what bank would open a bank account without a retirement visa?
a year ago
Like
Reply
John **********
@Tamar **********
 every branch of every bank is different. You might just need to trek round until you find one that will open an account for you
a year ago
Like
Reply
Reply to
John **********
Reply
Thai Visa Advice and Everything Else
... members · 60% approval rate
The Thai Visa Advice And Everything Else group allows for a broad range of discussions on life in Thailand, beyond just visa inquiries.
Join the Group
Thai Visa Advice and Everything Else
View the Conversation
Thai Visa Advice and Everything Else
What visa do I need to open a bank account in Thailand?
25 comments
6 months ago
Can I really obtain a Non-O retirement visa in Thailand without opening a local bank account?
109 comments
7 months ago
What visa do you need to open a bank account in Thailand as a tourist?
40 comments
7 months ago
Do I need a retirement visa to lease a condo in Thailand for 12 months?
78 comments
8 months ago
Can expats open a Thai bank account on a tourist visa while buying property?
46 comments
a year ago
Can someone open a Thai bank account on a tourist visa while planning to switch to a retirement visa later?
35 comments
a year ago
How can I open a Thai bank account without a retirement visa?
95 comments
a year ago
How can I open a bank account in Thailand without a long-stay visa?
27 comments
a year ago
Is a visa requirement necessary for transferring a condo in Thailand?
9 comments
a year ago
What are the steps to obtain a retirement visa in Thailand, and do I need to open a Thai bank account prior to applying?
83 comments
2 years ago
Can I open a bank account in Thailand while on a visitor visa?
14 comments
2 years ago
Can I open a bank account in Thailand with a 90-day visa while planning to apply for a retirement visa?
25 comments
3 years ago
How Can I Open a Thai Bank Account with a Tourist Visa?
26 comments
3 years ago
Can I open a bank account in Thailand while on a tourist visa for retirement visa purposes?
48 comments
3 years ago
Can I obtain a long-term visa in Thailand simply by owning a condo?
28 comments
3 years ago
How can I open a bank account in Thailand while on a tourist visa?
32 comments
4 years ago
What visa do I need to retire in Thailand and do I need a Thai bank account for my retirement?
61 comments
4 years ago
What type of visa do I need to open a bank account in Thailand?
57 comments
5 years ago
Does owning a condo in Thailand eliminate the need for financial requirements like 800,000 Baht or 65,000 Baht monthly for visa extensions?
20 comments
6 years ago
What do I need to do to open a bank account in Thailand for my retirement?
12 comments
6 years ago
How can I open a bank account in Thailand to meet retirement visa requirements?
37 comments
6 years ago
What visa should I apply for when buying a condo in Bangkok?
13 comments
6 years ago
Is there a visa available for condo owners in Thailand?
25 comments
7 years ago
How can a tourist open a bank account in Thailand for a Retirement Visa?
46 comments
7 years ago
How can I convert my tourist visa to a retirement visa while in Phuket and open a bank account without a work permit?
71 comments
7 years ago
Data protection policyTerms and conditionsDisclaimerPrivacy policyRefund policy
The asq:thailand community, consisting of multiple Q/A groups with over 100,000 members, powers this platform. It is not an official government resource. Our members actively contribute to this resource, and while we strive for accuracy, we cannot guarantee its complete reliability. Assistance to travelers is provided as a community service.