Buying a condo: transferring funds and getting the FET form

Of all the steps in a Thai purchase, transferring the funds is the one that worries our clients most, and rightly so: a mistake in how the money is sent can delay, or even block, the registration of the property in your name. The good news is that with a little preparation, it all goes smoothly. This guide describes the general principles; the precise rules (thresholds, documents, wording) must be confirmed by your Thai bank and your lawyer at the time of the transaction.

1.Why the source of funds matters

Thai condominium law allows a foreigner to own a condo freehold, under certain conditions. One of them concerns the money: it generally has to be brought in from abroad, in foreign currency, and converted into baht in Thailand. The Land Office checks this on transfer day, using proof issued by the bank that received the funds.

The rule also works in your favour: the proof shows that the money entered the country legally, which later makes it easier to repatriate the proceeds of a sale.

2.How to send the money from abroad

The usual process is:

1. Use your own Thai account or the recipient's account: depending on the case, funds are sent to your own Thai account or directly to the seller's or developer's account. Your lawyer will tell you which suits your purchase.
2. Send the money in foreign currency (euros, dollars…) from a bank abroad, by international transfer. Conversion into baht then takes place in Thailand, so the Thai bank can record the inflow of foreign currency.
3. State the purpose of the transfer: a clear wording such as "purchase of a condominium unit" followed by the building name and unit number is generally requested. Have the exact wording approved by your bank or lawyer before sending the money.
4. Make the transfer in the buyer's name: the sender's name must match the name that will appear on the title deed.

For a joint purchase (a couple, for example), agree in advance who sends what and in whose name the property will be registered.

3.The FET: what it is for and when it is issued

The Foreign Exchange Transaction form is a document issued by the Thai bank that received and converted the funds. It states the amount, the currency, the sender and the purpose.

A few general rules to know:

• it is in principle issued for large amounts, above a threshold set by exchange control rules (commonly quoted as the equivalent of USD 50,000 per transaction); below that, the bank generally provides a letter or credit advice that serves the same purpose;
• you often have to ask the bank for it, as it is not always issued automatically;
• the details must be consistent with the contract: buyer's name, purpose, amount.

If you send the money in several instalments, each transfer will have its own proof: keep them all.

4.Mistakes that block the transfer

They are always the same, and they can be avoided:

• sending baht rather than foreign currency, for example through a money transfer service that converts before sending: the Thai bank then sees no foreign currency coming in;
• using money from a Thai account already funded without proof of origin;
• forgetting the purpose of the transfer, or giving one that is too vague;
• a different name for the sender and the buyer;
• leaving it to the last minute: an international transfer can take several days, and so can obtaining the proof.

5.A typical timeline for a purchase with a funds transfer

Every purchase has its own pace, but the steps almost always come in the same order. Here is the sequence we see most often for a resale condo:

1. Reservation: you pay a reservation deposit, often modest, and the property is taken off the market while the contract is prepared. Ask under what conditions this deposit is refundable.
2. Sale contract: your lawyer checks the title, the foreign quota and the common charges, then reviews or drafts the contract. A larger deposit is often paid on signing.
3. Preparing the transfer: you agree with your bank and lawyer on the receiving account, the currency and the purpose. This is the right time for the test transfer.
4. Main transfer: it leaves from your bank abroad. Allow several working days, more around public holidays, both at home and in Thailand.
5. Proof: as soon as the funds arrive, the Thai bank issues the FET or an equivalent letter, often on request. Check the names, amount and purpose straight away.
6. Transfer at the Land Office: the lawyer, the seller (or their representative) and you (or your proxy) meet at the Land Office; fees are paid and the title is registered in your name.

For an off-plan purchase, payments are spread over the construction period: each payment coming from abroad must be documented in the same way, and all the proofs will be presented at the final transfer.

If you cannot be in Thailand, the transfer can in principle be carried out with a power of attorney; its formalities (signature, possible legalisation) should be prepared with your lawyer well before the planned date.

6.Keep the FET for resale

Keep the originals of your proofs safe, together with a digital copy. When you sell, they will show that the money invested came from abroad, which simplifies transferring the sale proceeds out of Thailand. Without them, repatriation can require extra steps.

7.In short

1. Agree with your lawyer and bank on the channel (your account or the seller's) and the purpose wording.
2. Send foreign currency from abroad, in the buyer's name.
3. Ask for the proof (FET or bank letter) as soon as the funds arrive.
4. Bring it to the Land Office, then keep it for resale.

For an overview of buying, see Buying a condo in Thailand as a foreigner and Condo buying costs in Thailand.

Official sources: the Bank of Thailand (bot.or.th) for exchange control rules, and the Department of Lands (dol.go.th) for property registration.

Frequently asked questions

General information updated on 10 October 2026; check your contract and with the Find Easy team.