FET Form and Foreign-Currency Transfer for a Thailand Condo
What this page covers
FET Form and Foreign-Currency Transfer for a Thailand Condo
For a foreign-owned freehold condo in Thailand, purchase funds are usually sent from overseas in foreign currency, converted into Thai baht by a Thai bank, and recorded with a Foreign Exchange Transaction form.
If you are buying remotely, a clear payment trail matters. Buyers usually keep complete bank records, review bilingual contracts carefully, and confirm early what the bank, seller, and Land Office will require before transfer.
In brief
- For a foreign freehold condo purchase, buyers are generally expected to send funds into Thailand from abroad in foreign currency and convert them to baht through a Thai bank.
- The Thai bank then issues a Foreign Exchange Transaction form, often called an FET form or Thor Tor 3, to document the incoming funds and the currency conversion.
- If you are buying from overseas, keep every transfer record and confirm the payment route, supporting paperwork, and ownership registration requirements before completion.
What to do
The main purpose of the FET form is to connect your overseas transfer to the condo purchase. In practice, this usually means sending funds from abroad in foreign currency, receiving them through a Thai bank, converting them into baht, and keeping the bank document issued for that transaction.
For a remote purchase, payment clarity matters as much as payment timing. It is sensible to use traceable bank channels, avoid cash or hard-to-document payment methods, and keep records for both the incoming transfer and the conversion into baht.
Because cross-border condo purchases involve banking steps, contract review, and transfer formalities, many overseas buyers ask a Thai lawyer, agent, or experienced coordinator to help organize the paperwork. Before you proceed, confirm exactly which documents your bank, seller, and transfer team will need.
What to keep in mind
The key point is simple: a foreign-owned freehold condo transfer usually depends on documented incoming foreign funds. The bank issues the FET certificate, and the Land Office typically requires that proof when registering the unit in a foreign buyer's name.
This matters most when the condo will be registered in a foreign buyer's own name under the foreign ownership quota. Other structures, such as leasehold or Thai-company arrangements, follow different rules and should be reviewed separately with qualified local professionals.
Remote buying is common in Phuket, but distance increases the need for due diligence. Buyers often check title records, ask for a debt-free certificate for the condo unit, and make sure the agreements are clear in both Thai and English before transfer.