A foreigner who buys a freehold condominium in Thailand has to prove where the money came from. The price must arrive in Thailand as foreign currency and be converted to baht by a Thai bank, and the bank's paperwork must say so. That paperwork, the Foreign Exchange Transaction Form or FET, is handed to the Land Office on the day of transfer. Without it the unit cannot be registered in your name. The rule is simple, and most problems come from a transfer sent the wrong way before the buyer knew the rule existed.
Where the rule comes from
Section 19 of the Condominium Act lists the foreigners who may own a unit. Most overseas buyers come within Section 19(5): a foreigner who brings foreign currency into the country, or who withdraws from a non-resident baht account or a foreign currency deposit account in Thailand. Section 19 ter requires documentary proof, for an amount not less than the price of the unit. Under Supreme Court decision 7500/2552 the registrar has no discretion to waive it.
A Land Department regulation in force since 1 April 2004 says what proof is accepted.
| How the money arrives | USD 50,000 or more | Under USD 50,000 |
|---|---|---|
| Foreign currency remitted from abroad | FET form (formerly Tor Tor 3) from the receiving bank | Written evidence from the bank that it bought the foreign currency |
| Withdrawal from a foreign currency deposit account in Thailand | Foreign currency transaction evidence from the bank | Written bank evidence that it bought the foreign currency |
| Withdrawal from a non-resident baht account | Written statement from the bank | Written statement from the bank |
Exchange control rules do not limit how much you bring in: transfers of foreign currency into Thailand are not capped. The FET is evidence, not a tax form or a permit.
What the FET shows
The form is produced by the first Thai bank that receives the funds. It records the sender, the recipient, the foreign currency amount, the exchange rate, the baht amount and the declared purpose. The Land Office reads it for three things: that the money came from abroad, that the person who sent it is the person buying, and that it was sent to buy this unit.
How to send the money correctly
- Send foreign currency. Remit pounds, dollars, euros or another foreign currency and let the Thai bank convert. If your bank offers to send baht, decline. Baht that arrives from abroad generates no FET.
- Send it from your own account. The sender's name should match the buyer's name in the passport and the contract.
- Choose the receiving account. You can send to your own Thai bank account, or directly to the developer or seller. If you pay a developer directly, the developer's bank issues the form with you named as the sender, and you must ask for it.
- State the purpose. In the payment reference write that the funds are for the purchase of a condominium, followed by the unit number, the project name and your name as it appears in your passport. Words such as investment, savings, gift or living expenses will not do.
- Cover the full price. The total evidenced must be at least the price of the unit. Exchange rates move between payments, so leave a margin.
- Collect the originals. Ask the branch for the FET or confirmation letter after each transfer. Do not leave it to the week of completion.
Common mistakes and what they cost
| Mistake | Consequence |
|---|---|
| Money converted to baht before it reaches Thailand | No qualifying evidence. The transfer may have to be reversed and sent again |
| Sent by a parent, spouse or company | Evidence names the wrong person. The Land Office may refuse it |
| Purpose left blank or described as investment | Evidence is not linked to the purchase. A bank correction letter may or may not be accepted |
| Total evidenced falls short of the price | Registration is refused until the shortfall is remitted |
| Form not collected from a developer's bank | Delay at transfer while the developer's bank retrieves it |
If a transfer has gone wrong, obtain the bank's records, ask the bank whether it can certify the corrected purpose or the link between sender and buyer, and have your lawyer check the Land Office's position before the transfer date. The last resort is to send the money back out and remit it again properly. Do not restructure the purchase into someone else's name to get round the problem. That creates the nominee risk described in Thai company ownership risks.
Joint buyers and staged payments
Where two people buy together, either send the transfer in both names or send separate transfers, each in the name of the person who will own that share. Tell the receiving bank that the unit is being bought jointly.
For an off-plan purchase the rule applies to every instalment over the construction period, not only the final payment. Each one needs its own evidence, and the documents together must add up to the price. See the off-plan buying process.
New source-of-funds checks from October 2026
Separate from the FET, checks on foreign currency entering the country were tightened by Bank of Thailand Notification No. 38, which took effect on 8 October 2026. Banks must obtain documents showing the source of funds for inflows of USD 200,000 or more. For a watchlist of transaction types, which includes proceeds of Thai property sold to foreigners, the documents are required for every transaction at or above that amount, with no exemption for established customers.
In practice, expect the receiving bank or the seller to ask where your money came from. Have evidence ready: a property sale completion statement, a portfolio statement or bank statements showing the funds building up. This is a new rule and banks are still settling how they apply it, so ask the receiving bank what it needs before you send a large sum.
If you are not buying a freehold condominium
The FET requirement belongs to the Condominium Act. A lease of a villa, a usufruct or a house on leased land does not depend on it. Follow the same discipline anyway. A bank may still issue the form, and a clear record that the money came from abroad is what makes it easy to send it back.
Foreigners with Thai permanent residence qualify under a different limb of Section 19 and do not rely on remittance evidence.
Why it matters later
The form has a second life. When you sell and want to send the proceeds abroad, your bank will compare the outgoing amount with what you originally brought in, plus any gain. The documents it typically asks for are the original FET, the purchase contract and the Land Office transfer receipt. With a complete file the remittance is routine. Without one it becomes slow and uncertain. Keep the originals with the title deed for as long as you own the unit. Selling property and repatriating funds covers the exit.
The form does not settle anything about tax in your home country, and it is not a visa document. Our pages for buyers from the United Kingdom, the United States and Australia cover the home-country side, and banking and daily life covers Thai bank accounts.
Sending money to Thailand to buy property: what to consider
- Agree the remittance route with your lawyer and the receiving bank before the first payment, including the reservation fee.
- Exchange rate and transfer costs on a large purchase are material. Compare your bank's rate with a specialist's, but only use a route that produces the evidence.
- Bank practice varies by branch, and the rules on source-of-funds checks changed in October 2026. Where a transfer is unusual in any way, take independent legal advice first.
