Editorial
FET Form in Thailand Property: What Foreign Buyers Must Know in 2026
By THAI.ESTATE Editorial Team12 min read
The Foreign Exchange Transaction (FET) form is the official bank document that proves foreign currency arrived in Thailand from abroad for the purpose of buying property. Without a valid FET form, the Land Department will not register a condominium unit in a foreigner's name. It is not optional paperwork - it is the legal gateway to foreign condo ownership in Thailand.
The FET form is issued by a Thai commercial bank after it receives an international wire transfer in foreign currency. The bank converts the funds to Thai baht and prints the form. You keep the original. You present it at the Land Office on registration day. You also need it if you later sell the unit and want to send your sale proceeds back abroad.
This guide explains exactly how the FET form works, what can go wrong, and what you must do at each stage of a property purchase to protect yourself.
Quick answer
- The FET form (also called a Foreign Exchange Transaction certificate or Thor Tor 3 form) is issued by a Thai bank when foreign currency arrives from outside Thailand and is converted to baht
- It is mandatory for registering a condominium unit under a foreigner's name at the Land Department, under the Thai Condominium Act
- The minimum amount that triggers a formal FET form is USD 50,000 or equivalent per transaction (amounts below this threshold use a simplified record - confirm the current threshold with your receiving bank, as internal bank policies vary)
- The transfer must arrive in foreign currency, not in Thai baht. Sending baht from an overseas baht account does not produce a valid FET form
- The transfer purpose code on the wire must be correct - typically referencing real estate purchase or property acquisition. A wrong code is one of the most common and expensive errors in Thai property transactions
- You need one FET form per transfer. If your purchase price requires several transfers, you need several FET forms, and their combined amount must cover the full registered price
- The FET form is also required at exit when you sell and repatriate proceeds abroad
Options and scenarios
There is no single template for how foreign buyers send money to Thailand. Your situation depends on where you bank, how your purchase is structured, and whether you buy off-plan or resale.
Scenario 1: Off-plan condominium, staged payments
Developers of new condominiums typically collect payments in stages: a reservation deposit, a down payment on signing the sale and purchase agreement, construction-milestone installments, and a final balance on handover. Each transfer from abroad in foreign currency must produce its own FET form. You must keep all FET forms issued during the project. On registration day you present the full set.
Risk note: Some buyers wire early deposits from a local Thai bank account they already hold. Those transfers do not produce FET forms because the money did not arrive from abroad. If your total foreign-sourced funds documented by FET forms fall short of the registered purchase price, registration can be blocked.
Scenario 2: Resale condominium, single lump-sum payment
This is the simplest case. You wire the full amount from your home country bank, the Thai receiving bank issues one FET form for the full amount, and you use it at the Land Office. Make sure the amount on the FET form is equal to or greater than the registered sale price. Banks round amounts after conversion, so wire slightly more than the baht equivalent of the registered price, not less.
Scenario 3: Partial overseas funding, partial local savings
Some long-term residents have baht savings in Thai bank accounts built up over years of local income. Only the portion of the purchase price that arrives from abroad in foreign currency can be documented by FET forms. The portion funded from local baht savings does not qualify. This creates a shortfall on the FET documentation relative to the registered price, which can prevent registration under a foreign name. You should discuss this with a qualified Thai property lawyer before structuring your payment.
Scenario 4: Purchase through a Thai company
Foreigners sometimes buy land or landed property through a Thai-majority company (a structure governed by the Civil and Commercial Code and Foreign Business Act). In this structure, the buyer is a shareholder, not the direct property owner. FET forms are still relevant if you are injecting foreign capital into the company, but the registration mechanics differ. This guide focuses on direct foreign ownership of condominiums, where FET documentation is the primary tool.
Scenario 5: Remote purchase using a power of attorney
You can complete the Land Office registration without being present in Thailand. You grant a notarized and Thailand-embassy-authenticated power of attorney (POA) to a local representative - typically your lawyer. The representative signs the transfer documents and presents the FET forms on your behalf. The POA must be specific: it should name the property, the transaction value, and the powers granted. A generic POA is frequently rejected by Land Office staff.
Comparison table
| Factor | Correct FET form | Missing or wrong FET form | Partial FET coverage |
|---|---|---|---|
| Registration outcome | Proceeds normally at Land Office | Registration blocked | Registration blocked or delayed |
| Time to fix | Not applicable | Days to weeks, depending on bank | Weeks to months |
| Cost to fix | None | Bank amendment fees + possible penalty interest | Additional wire transfer costs + legal fees |
| Impact on resale | Full amount repatriable | Repatriation limited to documented amount | Only documented portion repatriable |
| Bank involvement needed | Issuing bank keeps record | Issuing bank must issue correction or new certificate | New wire from abroad required |
| Legal risk | None | Potential contract breach if closing delayed | May void foreign ownership claim on shortfall |
Risks and mistakes
Wrong transfer purpose code
This is the single most common FET error. When your overseas bank sends the wire, it records a purpose code or free-text description of why the funds are being sent. Thai banks use this description to categorize the inbound transfer. If the purpose is listed as 'personal transfer', 'family support', or 'living expenses', the Thai bank may not issue the form with the correct real estate category. You may not discover the problem until registration day. Always instruct your sending bank in writing to state 'purchase of condominium unit in Thailand' or similar property-acquisition language in the transfer details.
Sending baht instead of foreign currency
If you use a currency-conversion service (such as a multi-currency fintech wallet) and send Thai baht directly to a Thai bank account, no FET form is generated. The conversion must happen inside a Thai bank on Thai soil after foreign currency arrives. Baht that arrives already converted is treated as a domestic transfer.
Assuming your Thai bank account functions as the receiving account
Some buyers wire funds into their own Thai personal bank account first, then transfer baht to the developer or seller. The initial wire from abroad to your own account can generate an FET form - but only if the Thai bank processes it as a foreign inward remittance in foreign currency. Confirm this explicitly with your bank before the transfer. Do not assume.
Keeping only copies, not originals
The Land Office requires the original FET form. Copies, PDFs, and screenshots are not accepted. If your original is lost, you must contact the issuing bank and request a certified replacement certificate, which can take one to three weeks and may require a formal letter of request.
Multiple small transfers to avoid documentation
Some buyers spread transfers across smaller amounts, believing this simplifies the process. It does not. You still need an FET form for each qualifying transfer. The total documented amount across all FET forms must meet or exceed the registered purchase price. Fragmenting transfers adds complexity and risk.
Not retaining FET forms after registration
The FET form proves how much money entered Thailand for property purchase. When you sell and want to repatriate your capital and profit, the Thai bank handling the outward transfer will ask for evidence of the original inward transfer. Without your FET forms, the bank may limit how much you can send out. Store originals securely, with scanned backups in a separate location.
Relying on the developer to handle FET documentation
Some developers collect payment into their own Thai bank account and issue their own receipts. This does not produce an FET form in your name. The FET form must be issued to the buyer, not the developer. If the developer asks you to pay into their local baht account from your overseas account in baht, ask your lawyer to review this arrangement before you agree.
FAQ
What is the FET form in Thailand property transactions?
The FET form - Foreign Exchange Transaction form, also known historically as a Thor Tor 3 certificate - is a document issued by a Thai commercial bank confirming that foreign currency was received from abroad and converted to Thai baht. It records the sender, the amount in original currency, the baht equivalent, and the stated purpose of the transfer. The Land Department uses it to verify that condo ownership is being funded from abroad, as required by the Condominium Act for foreign-name registration.
Is the FET form required for all Thai property purchases by foreigners?
It is specifically required for registering a condominium unit under a foreigner's name. Thailand's Condominium Act limits foreign ownership to 49% of the total sellable area in any one building, and all foreign purchases must be funded by money brought in from abroad. The FET form is the evidence of that. For other property structures (company ownership of land, long-term leasehold), the FET form may still be relevant for capital repatriation purposes, though it is not always a registration prerequisite in those cases.
How do I get an FET form issued correctly?
Instruct your overseas bank to wire the funds in a foreign currency (USD, EUR, GBP, AUD, or similar) to a Thai commercial bank account - either your own account or, in some developer arrangements, a designated account. Tell your sending bank to state 'purchase of condominium, Thailand' in the transfer details. The Thai receiving bank will issue the FET form after processing. Ask the bank explicitly for the original certificate. Do not leave the bank counter without it.
What happens if the FET form amount is less than the registered purchase price?
The Land Office will not register the transfer of ownership to a foreign buyer if the FET documentation does not cover the full registered price. You will need to either wire additional funds from abroad to make up the shortfall (generating an additional FET form) or negotiate an adjusted registered price with the seller - which has its own legal implications. This situation causes delays and additional costs. Prevention is straightforward: wire at least the full purchase price from abroad in foreign currency before registration day.
Can I use an FET form issued years ago for a new property purchase?
The FET form is specific to the transfer transaction it documents. It records a dated inward remittance. You cannot reuse an old FET form for a new purchase. Each property registration requires FET forms corresponding to transfers made for that specific purchase. However, old FET forms remain valid as evidence for repatriation when you eventually sell a property you purchased years earlier.
Can the FET form be used to repatriate money after I sell my condo?
Yes, and this is one of the most important functions of the FET form. When you sell your condo and want to send the proceeds abroad, the Thai bank will ask for evidence of the original inward remittance. Your FET forms prove how much foreign capital entered Thailand. You can repatriate up to the documented amount, plus documented profit. Without the forms, the bank may restrict or refuse the outward transfer. Keep all original FET forms for the life of your ownership.
Does sending money through a fintech or multi-currency app produce an FET form?
In most cases, no. Services that convert your currency before the funds leave your home country and send Thai baht directly to Thailand do not generate a formal FET form at a Thai bank. The Thai bank receives a baht domestic credit, not a foreign currency inward remittance. For property registration purposes, you need funds to arrive at a Thai commercial bank in foreign currency. Use a standard international wire transfer (SWIFT) for this purpose.
How long does it take to receive the FET form after wiring funds?
Most Thai commercial banks process inward foreign currency remittances and issue the FET certificate on the same business day or the next business day after the funds clear. SWIFT transfers from most countries clear within one to three business days. Plan to wire funds at least one week before the registration appointment to allow for banking processing time and any corrections if the purpose code is flagged.
What documents should I bring to the Land Office on registration day?
For a condominium registration in a foreigner's name, bring: your original passport, the original title deed (chanote - the highest-grade Thai land title, showing GPS-surveyed boundaries and full ownership rights), the original FET form or forms covering the full purchase price, the sale and purchase agreement, and any power of attorney if you are represented. The Land Office will also require the juristic person certificate of the condo building (a document issued by the juristic person manager confirming the foreign ownership quota has not been exceeded) and evidence that any outstanding common-area fees and sinking fund contributions are settled.
What is the difference between an FET form and a SWIFT confirmation?
A SWIFT confirmation is a record from your sending bank that a wire transfer was dispatched. An FET form is a certificate from the Thai receiving bank that the foreign funds arrived, were converted to baht, and were recorded as an inward foreign remittance for a specific purpose. The Land Office accepts only the FET form, not a SWIFT confirmation. Both documents are useful to keep, but they are not interchangeable.
Planning a property purchase in Thailand? Send us your requirements - the THAI.ESTATE team will reply with specific options and a safety checklist for your case.