How to Transfer Money for Thai Property: 2026 Guide

Transferring money correctly for a Thai property purchase is one of the most consequential steps in the entire buying process. Get the transfer reference wrong, receive funds in Thai baht instead of foreign currency, or miss the Foreign Exchange Transaction (FET) form, and you risk losing your legal right to register a condominium in your name - or your ability to repatriate the funds when you sell.

This guide explains exactly how international money transfers work for Thai property purchases in 2026: the mechanics of the FET form, which bank documents you need to keep, how much to send and when, and the most expensive routine errors that foreign buyers make.

Quick answer

• Funds must arrive in Thailand in foreign currency (USD, EUR, GBP, AUD, SGD or similar) via an international wire transfer from abroad
• The receiving Thai bank issues a Foreign Exchange Transaction (FET) form - previously called a Thor.Tor.3 form - for each inward transfer of USD 50,000 equivalent or above (indicative threshold; banks may issue the form for smaller amounts on request)
• The FET form is legally required to register foreign-name condominium ownership at the Land Office and is required again when you repatriate sale proceeds later
• The transfer purpose code or reference on your wire must correctly state 'purchase of condominium' or equivalent property-purchase wording - a wrong reference can invalidate the form for Land Office purposes
• Payment stages for off-plan condominiums typically follow a construction-linked schedule: reservation deposit, contract signing payment, construction milestone payments, and final payment on handover
• Keep every FET form issued across all transfer tranches; you will need the full paper trail at exit

Options and scenarios

Scenario 1: Buying a completed condominium

For a ready-to-transfer unit, the full purchase price minus any paid reservation deposit is typically due within 30 to 60 days of signing the Sale and Purchase Agreement (SPA). You make one or two large international wire transfers. The receiving Thai bank - usually the developer's bank or a bank you have opened a personal account with - issues FET forms for each qualifying transfer.

You then take those FET forms to the Land Office on transfer day. The Land Department officer checks that the foreign-currency amount on the FET forms matches or exceeds the registered purchase price of the unit. If the figures do not match, registration is refused.

Scenario 2: Buying off-plan with staged payments

Off-plan purchases spread payments across the construction period, which can range from 18 months to 4 or more years for large projects. Each stage payment triggers a separate wire transfer and a separate FET form. Typical stages (indicative, vary by developer):

• Reservation deposit: THB 50,000 to THB 200,000 (sometimes payable by credit card or local transfer; check whether this needs to follow FET rules - it usually does if paid from abroad in foreign currency)
• SPA signing payment: commonly 20 to 30 percent of purchase price, due within 30 days of signing
• Construction milestone payments: 10 to 20 percent at each milestone (foundation, structure, roofing, fitout)
• Handover/final payment: remaining balance, typically 20 to 30 percent

For each stage, send the wire in foreign currency, retain the FET form, and file all forms together. Losing even one FET form from an early stage is a serious administrative problem. Request certified copies from your bank immediately after each transfer.

Scenario 3: Buying via a Thai limited company (for land or villa)

Foreigners cannot own land freehold. Some buyers hold land through a Thai-registered limited company where they hold shares. In this structure, the money transfer mechanics differ: funds are typically injected as share capital or shareholder loans into the company, not as a direct property purchase. The FET form is still issued by the receiving bank for the inward foreign-currency wire, but the transfer purpose code changes to 'investment in Thai company' or 'share capital.' This structure carries significant legal complexity and Thai legal counsel is essential. This guide focuses primarily on the direct condominium purchase route.

Scenario 4: Using a power of attorney for remote transfers

If you cannot be present in Thailand, you can grant a power of attorney (POA) - a notarised and, for use in Thailand, apostilled legal document - authorising a trusted representative or your lawyer to sign documents at the Land Office. However, the money transfer itself must still originate from your own overseas bank account to preserve the FET trail. The POA does not replace the transfer requirement; it only delegates physical presence at document signing.

Comparison table

Parameter	Completed condo - direct wire	Off-plan condo - staged wires	Company structure (land/villa)
Number of transfers	1 to 2	4 to 8 or more	1 to 3 (share capital injections)
FET forms required	1 to 2	1 per qualifying transfer	1 per qualifying transfer
Transfer currency	Foreign currency only	Foreign currency only	Foreign currency only
Typical timeline	30 to 60 days from SPA	18 months to 4+ years	Varies with company setup
Transfer purpose code	Property purchase / condo purchase	Property purchase / condo purchase	Share capital / company investment
Risk of wrong reference	High impact - 1 transfer only	High impact per tranche	High impact - different code required
Repatriation supported by FET	Yes, full amount per form	Yes, cumulative forms	Partial - depends on structure
Legal complexity	Moderate	Moderate to high	High - requires Thai legal counsel

Step-by-step: how to execute the transfer correctly

Step 1: Open a Thai bank account before you transfer

You are not legally required to receive funds into a personal Thai account - some buyers wire directly to the developer's account. However, receiving into your own Thai bank account first gives you the strongest FET paper trail and the clearest repatriation record. Most Thai banks (Bangkok Bank, Kasikorn Bank, SCB and others) open accounts for foreigners holding a valid passport and a Non-Immigrant visa. Tourist visa holders face restrictions at some branches.

If you wire directly to the developer, ask the developer's bank to issue the FET form in your name, not the developer's. This is standard practice for condo purchases; a developer who resists this is a warning sign.

Step 2: Instruct your overseas bank with the correct details

When you initiate the international wire from your home-country bank, you must provide:

• Beneficiary name and account number: your Thai account or the developer's account as specified in your SPA
• Receiving bank SWIFT code and branch
• Transfer amount in foreign currency: never convert to THB at your home bank; send the original foreign currency
• Transfer purpose / payment reference: use wording such as 'Purchase of condominium unit, Thailand' or whatever wording your Thai bank or developer advises. This reference appears on the FET form
• Your own name as remitter: the name on the wire must match the name on your passport and on the SPA

A mismatch between the remitter name and the buyer name on the SPA is one of the most common errors. If your name appears differently on your passport versus your bank account (middle name omitted, initials used), resolve this with your bank before you send.

Step 3: Collect and verify the FET form immediately

Within a few days of the funds arriving, the Thai receiving bank issues the FET form. Check these fields carefully:

• Your full name matches your passport exactly
• The amount and currency match what you sent
• The purpose of transfer correctly references property purchase
• The bank's official stamp and signature are present

If any field is wrong, request a correction immediately. Banks can amend FET forms while the transaction is fresh; corrections become harder over time and may require branch manager approval.

Request two certified copies in addition to the original. Store originals in a secure location outside Thailand (scanned digital copies are useful as a backup but the Land Office requires originals or certified copies).

Step 4: Match the FET total to the registered purchase price

Before transfer day at the Land Department, total the foreign-currency amounts across all your FET forms and convert them to Thai baht at the rate shown on each form. The cumulative THB equivalent must equal or exceed the appraised value used by the Land Office for your unit (which may differ from the actual contract price - Land Office appraisal values are set by the Treasury Department and are often lower than market prices).

If the Land Office appraisal value is lower than your contract price, FET forms covering the contract price are still advisable for repatriation purposes at exit.

Step 5: Present FET forms at Land Office registration

On transfer day (the day ownership is registered), you or your POA representative presents the FET forms to the Land Department officer along with:

• Your passport (original)
• The title deed (chanote - the highest-grade Thai title, showing precise GPS-surveyed boundaries) for the unit
• The SPA signed by both parties
• Condominium ratio certificate issued by the juristic person (the management entity of the condo building, registered under the Condominium Act)
• Developer's company affidavit (a current extract from the Department of Business Development showing the developer is properly registered and the authorised signatories)
• Any relevant power of attorney if you are not present

The Land Department registers the transfer and issues a new chanote in your name. The FET forms are checked but typically returned to you - keep them.

Step 6: Understand the repatriation mechanics for when you sell

When you sell the property, Thai law allows you to repatriate up to the amount documented by your FET forms. This is why every tranche matters. If you transferred THB 5 million equivalent over several wires but only have FET forms for THB 3 million equivalent, you can only repatriate THB 3 million equivalent without additional documentation and bank approval.

Any capital gain above the original FET-documented amount may be repatriated but requires separate bank approval and currency conversion documentation. Keeping a clean FET paper trail across every transfer tranche is the single most effective action you can take to protect your ability to move money out of Thailand.

Risks and mistakes

Wrong transfer reference invalidates the FET form for Land Office use

This is the most common and most expensive routine error. If your overseas bank puts a generic reference ('property payment', 'investment', or nothing meaningful), the FET form may be issued with an incorrect or blank purpose field. Some Land Office branches accept this with additional documentation; others refuse registration. The safest approach: confirm the exact reference wording with your Thai bank or developer's finance team before you instruct your overseas bank.

Sending THB instead of foreign currency

If your home bank converts the funds to Thai baht before sending, the receiving Thai bank sees a domestic-style inward transfer, not a foreign exchange transaction. The FET form will not be issued, because no foreign exchange transaction occurred. You cannot retrospectively obtain a FET form for a baht transfer. The only remedy is to send a replacement wire in foreign currency for the full amount - and you may have already paid the developer in baht, creating a complex refund situation.

Name mismatch between remitter and buyer

The name on the wire transfer must match the name on your passport and SPA. Discrepancies caused by bank account naming conventions (abbreviated names, title differences, maiden versus married name) can delay or block FET form issuance. Check your home bank account name against your passport before you send the first wire.

Losing FET forms from early payment tranches

Off-plan buyers often complete the final payment years after early tranches. FET forms from year one can be lost, misfiled, or not requested at all. Request certified copies from the receiving Thai bank for every transfer, not just the final one. Banks retain records but retrieval takes time and is not guaranteed.

Relying on the developer to handle the FET

Some developers tell buyers 'we will handle everything.' The FET form is a buyer's document, not the developer's. The form must be in the buyer's name. Delegating this to the developer without verifying every form is a risk. Always review each FET form personally.

Paying reservation deposits by credit card without considering FET

Small reservation deposits paid by credit card from abroad may not generate an FET form. If that deposit is later included in the registered purchase price, you may have an undocumented gap. Discuss this with your Thai bank before signing the reservation agreement.

No contractual protection versus the reality

Thailand has no escrow system for foreign property buyers in the traditional sense. Your advance payments to a developer are not held in a protected account. The practical protections available are: construction-linked payment schedules (so you pay more only as construction progresses), contractual penalty clauses for developer default, developer verification (company affidavit, EIA permit, building permit copies), and reputation research. Understand these limits before committing funds.

FAQ

What is the FET form and why does it matter for Thai property?

The Foreign Exchange Transaction (FET) form - formerly called the Thor.Tor.3 - is a document issued by a Thai bank when foreign currency arrives from abroad and is converted to Thai baht. For condominium purchases, this form proves that the funds originated overseas in foreign currency. The Land Office requires it to register ownership in a foreigner's name. Without it, registration is refused. The same form supports repatriation of sale proceeds when you sell.

Does the FET form apply to every transfer, even small deposits?

Thai banks are required to issue FET documentation for inward foreign currency transfers of USD 50,000 equivalent or more. For smaller amounts, banks may or may not issue the form automatically. For any amount that forms part of your condo purchase price, ask your Thai bank explicitly to issue the FET form regardless of size. The Land Office needs the cumulative documented amount to equal or exceed the registered price.

Can I send money in Thai baht to pay for my condo?

No - not if you want the FET form. The transfer must arrive in foreign currency from an overseas account. If you already hold Thai baht offshore (for example, in a foreign bank's THB account), contact your Thai bank before transferring to confirm how the transaction will be classified and whether a FET form will be issued.

What transfer purpose wording should I use on the wire?

Use specific wording such as: 'Purchase of condominium unit, Thailand.' Avoid vague terms like 'investment' or 'property' alone. Confirm the exact wording with the Thai receiving bank or developer's finance team before you instruct your overseas bank. The wording appears on the FET form and is reviewed at the Land Office.

How long does an international wire transfer to Thailand take?

Typically 1 to 3 business days for SWIFT transfers from major financial centres. Allow extra time for compliance checks if this is your first large transfer to Thailand or if your bank requires additional documentation. Plan to initiate the wire at least 5 to 7 business days before any contractual payment deadline.

Can I use a currency exchange service instead of a bank wire?

Specialist currency transfer services can offer better exchange rates than retail banks for the actual conversion. However, you must confirm that the Thai receiving bank will issue a FET form for funds arriving via that channel. Some intermediary payment routes result in the funds arriving in a way that does not trigger a clear FET issuance. Verify the receiving bank's process before using a non-bank transfer service.

What happens to my FET forms when I sell the property?

When you sell, your Thai bank will request the FET forms as supporting documentation to approve the outward repatriation of funds in foreign currency. The amount you can repatriate in foreign currency is limited to the total documented on your FET forms plus any documented capital gain. Keep every FET form for the entire period you own the property.

Do I need a Thai bank account, or can I wire directly to the developer?

You can wire directly to the developer's account if the SPA instructs this. However, having your own Thai bank account creates a cleaner personal FET paper trail and simplifies repatriation later. If you wire to the developer, ensure the FET form is issued in your name by the developer's receiving bank - this is standard practice and you should request written confirmation before transferring.

What documents should I collect before transfer day at the Land Office?

You should hold: all original FET forms for every transfer tranche, your passport, the signed SPA, the current chanote (title deed) for the unit, the condominium ratio certificate from the juristic person, the developer's current company affidavit, building permit copies (especially for off-plan), and - if you are not attending personally - a notarised and apostilled power of attorney for your representative.

Are there taxes or fees due at the Land Office transfer?

Yes. As of 2026, the standard fees and taxes on condo transfer (indicative; rates may be adjusted by government policy) are: transfer fee of 2 percent of the appraised value, stamp duty of 0.5 percent (if the property has been held for 5 or more years), or specific business tax (SBT) of 3.3 percent (if held for less than 5 years). Withholding tax is also applicable and is calculated on a progressive basis related to the seller's holding period and appraised value. Buyers and sellers sometimes negotiate who pays which portion; the SPA should state this explicitly.

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