# Banking and daily life in Thailand for foreign owners Source: https://www.thailandpropertyinvestor.com/living/banking-and-daily-life Updated: 2026-11-14 Publisher: Thailand Property Investor (Omnia Capital Group) ## The short answer A foreigner can open a Thai bank account with a passport and, in practice, a long-stay visa. Requirements differ between banks and branches, so expect to try more than one. Anyone staying longer than 90 days must report their address to Immigration every 90 days, within a window from 15 days before to 7 days after the due date. Residents can convert a home driving licence to a Thai one. Owners who live abroad need a Thai account, a property manager and a local contact for bills and tax. ## Key points - Banks ask for a passport and usually a long-stay visa, and the decision rests with the branch, so requirements vary. - A Thai account is how you pay common-area fees, receive rent and use the QR payments that shops and services expect. - The 90-day address report is made on form TM.47, and missing it brings a fine of THB 2,000. - Long-Term Resident visa holders report once a year instead of every 90 days. - A first Thai driving licence is valid for two years and its renewal for five. Daily life in Thailand runs on a Thai bank account and a Thai mobile number. With those two you can pay almost anything by QR code, receive rent, settle building fees and deal with government offices. A foreigner can obtain both, though the bank account takes persistence. The other routine obligations are the 90-day address report and, if you drive, a Thai licence. Owners who live abroad should appoint someone on the ground. ## Opening a bank account There is no single rule. Each bank sets its own requirements and the branch has discretion, in part because of controls against fraud and money laundering. Banks usually ask for: - A valid passport. - A long-term Thai visa, such as a non-immigrant visa or Thailand Privilege membership. - A second identity document from your home country, such as a driving licence. - A work permit, if you have one. - A guarantee letter, if the branch asks for it. A visitor on a tourist entry can at most open a savings account, and may be declined. Holders of a [Long-Term Resident visa](https://www.thailandpropertyinvestor.com/visas/long-term-resident-visa), [Thailand Privilege](https://www.thailandpropertyinvestor.com/visas/thailand-privilege) membership or a [retirement visa](https://www.thailandpropertyinvestor.com/visas/retirement-visa) are in a stronger position. Branches in Bangkok apply closer scrutiny than those in cities such as Pattaya. Go in person with originals, take evidence of your Thai address such as a purchase contract or lease, and ask the developer or your lawyer which branch regularly opens accounts for foreign buyers. Mobile banking is approved case by case, so request it when the account is opened. ## Why the account matters for property The money to buy a condominium must come from abroad in foreign currency. The receiving Thai bank issues a Foreign Exchange Transaction Form for transfers of USD 50,000 or more, and you need that document to register freehold ownership and, later, to send sale proceeds home. Read [sending money to Thailand](https://www.thailandpropertyinvestor.com/guides/sending-money-to-thailand) before you make the first transfer, because a mistake in the remittance instruction is hard to correct. After completion the account does the routine work: common-area fees, electricity and water, insurance, the annual land and building tax, and rent received from tenants. If you plan to borrow, see [mortgages for foreigners](https://www.thailandpropertyinvestor.com/guides/mortgages-for-foreigners). ## Paying for things QR payments from banking apps are used at nearly every shop and street vendor, and the same apps pay rent, utilities and tax. Foreign cards work, but withdrawals on a foreign card carry extra fees that a local account avoids. ## Mobile and internet A SIM is registered against your passport at an operator's shop. In Bangkok a plan with at least 10 GB of data costs about THB 480 a month, and home broadband of 60 Mbps or more at about THB 610. Check mobile coverage and fixed-line availability at a hillside or rural villa before you buy. Keep the Thai number active when you are abroad, because banks send one-time passwords to it. ## Driving licence Visitors should carry their home licence and a 1968 International Driving Permit. Residents can apply for a Thai licence using their home licence, through the Department of Land Transport. A first licence is probationary and valid for two years. It is then renewed as a five-year licence. Applicants need a medical certificate and take a physical test of reactions, peripheral vision and colour vision. Official fees are small: THB 205 for the two-year car licence and THB 505 for the five-year one. Offices set their own document lists for foreigners, so call ahead. More on roads in [flights and getting around](https://www.thailandpropertyinvestor.com/living/flights-and-getting-around). ## 90-day reporting Any foreigner who stays in Thailand for more than 90 consecutive days must notify the Immigration Bureau of their address, and repeat the notice every 90 days. It applies even if your address has not changed. - **When.** From 15 days before the due date to 7 days after it. - **How.** In person at an immigration office with your passport and form TM.47, or by registered post sent at least 15 days before the due date. Immigration also offers online filing. Check its current conditions. - **Penalty.** A fine of THB 2,000 for a missed report, or THB 5,000 if the lapse is found when you are stopped for another reason. - **Travel.** Leaving Thailand resets the count. The next report is due 90 days after you return. The report does not extend your permission to stay. Immigration offices may also ask for your TM.30, the form that records a foreigner's stay at a particular address. Ask your lawyer who should file it for your property. Long-Term Resident visa holders report once a year instead. Compare the routes with the [visa pathfinder](https://www.thailandpropertyinvestor.com/tools/visa-pathfinder). ## Household staff Housekeepers, nannies, gardeners, drivers and pool technicians can be found through agencies, estate managers or other owners. Anyone who is not a Thai national needs a work permit or a visa that allows work, so check documents before hiring. Employers also have obligations under Thai labour law. Ask your lawyer or an agency to set the arrangement up properly. Take local quotations for wages. See [cost of living](https://www.thailandpropertyinvestor.com/living/cost-of-living). ## Owning from abroad A property left empty in the tropics deteriorates quickly, so plan for the following. - **Management.** In a condominium, the juristic person looks after the building but not your unit. Appoint a property manager to inspect, air, clean and maintain it. - **Bills.** Put electricity, water, internet and common-area fees on automatic payment from your Thai account, and keep it funded. - **Tax.** The land and building tax is billed yearly. Rent paid from Thailand to a non-resident owner is subject to 15% withholding. See [rental income and tax](https://www.thailandpropertyinvestor.com/guides/rental-income-and-tax). - **Letting.** Lets of under 30 days need a hotel licence. See [short-term rental rules](https://www.thailandpropertyinvestor.com/guides/short-term-rental-rules). - **Succession.** Consider a Thai will for your Thai assets. See [inheritance and wills](https://www.thailandpropertyinvestor.com/guides/inheritance-and-wills). - **A local contact.** Give a lawyer or manager a limited power of attorney for routine matters, and review it yearly. For the yearly deadlines, tenant reporting and the papers to keep, see [managing a Thai property from abroad](https://www.thailandpropertyinvestor.com/guides/managing-thai-property-from-abroad) and build your own list with the [owning from abroad planner](https://www.thailandpropertyinvestor.com/tools/owning-from-abroad-planner). ## Questions ### Can I open a Thai bank account on a tourist entry? Sometimes, but do not count on it. A tourist can at most open a savings account, acceptance varies from bank to bank, and branches in Bangkok apply closer scrutiny than those elsewhere. A long-stay visa makes the process far easier. ### Do I need a Thai bank account to buy a condominium? Not always. The purchase funds must arrive from abroad in foreign currency, and they are often remitted to the developer's or a law firm's account with the paperwork in your name. An account of your own makes running costs and any later sale simpler. Take your lawyer's advice on the route. ### What is 90-day reporting? It is a notification of your current address to the Immigration Bureau, made on form TM.47, required of foreigners who stay in Thailand for more than 90 days in a row. It does not extend your visa. Leaving Thailand resets the count. ### Can I employ a foreign housekeeper or nanny? Only if that person has the right to work in Thailand. Anyone who is not Thai needs a work permit or a visa that allows work, so check documents before you hire. ## Sources - [Siam Legal (ThaiEmbassy.com), Opening a bank account in Thailand](https://www.thaiembassy.com/thailand/opening-a-bank-account-in-thailand) - [Siam Legal (ThaiEmbassy.com), Doing the 90-day report](https://www.thaiembassy.com/thailand-visa/90-day-reporting) - [UK Government, Living in Thailand](https://www.gov.uk/guidance/living-in-thailand) - [UK Government, Thailand travel advice, safety and security](https://www.gov.uk/foreign-travel-advice/thailand/safety-and-security) - [Board of Investment, Long-Term Resident visa privileges](https://ltr.boi.go.th/) - [Wikipedia, Driving licence in Thailand (Department of Land Transport rules and fees)](https://en.wikipedia.org/wiki/Driving_licence_in_Thailand) - [Numbeo, Cost of living in Bangkok, updated 12 November 2026](https://www.numbeo.com/cost-of-living/in/Bangkok)