Transferring money to Thailand for a condo (the FET form)
To buy a freehold condominium, a foreigner must bring the purchase money into Thailand from abroad in foreign currency and convert it to Thai baht inside Thailand — the receiving Thai bank then issues a Foreign Exchange Transaction (FET) form (the old Thor Tor 3). The Land Office will not register the unit to a foreigner without this proof that the funds came from overseas, as required by Section 19 of the Condominium Act. The FET form is mandatory for transfers of USD 50,000 or more; below that a bank credit advice or SWIFT confirmation is accepted. Two rules trip people up: the currency must be converted in Thailand (not before you send it), and your name must be spelt identically on the passport, sale contract, bank letter and FET. Data as of August 2026.
How to remit the money, step by step
- 1
Agree the price in THB and get the payee details
The SPA is in baht. Get the seller's / developer's Thai bank account and the exact unit and project name for the payment reference.
- 2
Send foreign currency from your own account abroad
Wire USD, EUR, GBP, SGD, AUD, JPY or HKD — not baht — from an account in your name. State the purpose as “purchase of condominium unit [no.], [project]”. Avoid third-party senders.
- 3
The Thai bank converts to baht inside Thailand
The receiving bank exchanges the foreign currency to THB. This must happen in Thailand — if you convert to baht before sending, the FET can't be issued for a foreign purchase.
- 4
Request the FET form (or credit advice)
For USD 50,000+ ask the bank for the FET form; below that request a bank credit advice / SWIFT letter. It must show your name and the condo-purchase purpose.
- 5
Present it at the Land Office for registration
The FET, passport, SPA and bank letter must all show your name spelt identically. The Land Office registers the freehold unit into the building's 49% foreign quota against this proof.
The USD 50,000 line
At or above USD 50,000 per transfer, the bank issues the formal FET form. Below it, the FET is no longer mandatory under Bank of Thailand rules — but the Land Office still wants proof, so a bank credit advice or SWIFT confirmation (with your name and the condo-purchase purpose) does the job.
Common mistakes
- · Converting to baht abroad, then wiring THB — the FET needs the conversion to happen in Thailand.
- · Sending from someone else's account — the sender name should match the buyer.
- · Blank or wrong payment purpose — it must name the condo unit and project.
- · Name spelt differently on passport vs SPA vs FET — the Land Office will reject a mismatch.
- · Under-sending — remit the full unit price (plus a margin for FX and fees) so the FET covers it.
Keep going
Frequently asked
Do I really need an FET form to buy a condo in Thailand?
For a foreign-freehold condominium, yes — the Land Office needs documentary proof that the money came from overseas in foreign currency (Condominium Act, Section 19). The FET form is that proof for transfers of USD 50,000+; for smaller amounts a bank credit advice or SWIFT confirmation showing your name and the condo-purchase purpose is accepted.
Can I just send Thai baht from my home country?
No. The funds must arrive as foreign currency and be converted to baht by the Thai bank inside Thailand — that's what lets the bank issue an FET for a foreign condo purchase. Converting to baht abroad breaks the paper trail the Land Office requires.
Does buying a villa or leasehold need an FET too?
The strict FET requirement is tied to foreign-freehold condominium registration. For a leasehold, or a villa held via a Thai company or lease, the Land Office registration differs — but you should still remit purchase funds cleanly from abroad and keep bank proof, both for the deal and for repatriating money later. Take project-specific legal advice.
Can I take my money out of Thailand when I sell?
Yes — the FET is also your exit ticket. Because it documents the foreign currency you brought in, you can repatriate sale proceeds abroad up to the FET amount without extra approval. Keep the original FET safe for the whole holding period.
General information, not legal or financial advice. Bank of Thailand rules and bank procedures change — confirm the current process with your Thai bank and a Thai property lawyer before transferring funds.