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How to Transfer Money to Thailand for Property Purchase (FET & Legal Tips)
How to Transfer Money to Thailand for Property Purchase (FET & Legal Tips)
If you’re a foreigner planning to buy property in Thailand, you’ll need to transfer funds from overseas. But unlike a personal transfer or tourist remittance, buying real estate requires specific banking and legal steps to ensure your money is accepted and properly documented.
One of the most important requirements? The Foreign Exchange Transaction Form (FET) — also known as the Tor Tor 3 (TT3).
In this guide, I’ll walk you through how to safely transfer money to Thailand for property, what the law says, and how to avoid common banking mistakes that could delay or jeopardize your deal.
✅ Why Does It Matter How You Transfer Money?
✅ Why Does It Matter How You Transfer Money?
Thai law requires that funds used to purchase property — especially condos under foreign freehold — must be sent from outside of Thailand in foreign currency. The process must be documented to show that:
The buyer is a non-Thai
The funds were remitted legally
The funds were used to purchase immovable property
Without this, you might not be allowed to register the condo under your name at the Land Office.
🏦 Step-by-Step: How to Transfer Money for Buying Property in Thailand
🏦 Step-by-Step: How to Transfer Money for Buying Property in Thailand
1. Open a Thai Bank Account (or use Developer’s Escrow Account)
1. Open a Thai Bank Account (or use Developer’s Escrow Account)
If you’re purchasing a condo as a foreigner, it's ideal to open a bank account in your name in Thailand. Many developers will help with this. If not possible, the funds can sometimes go to the developer's designated escrow account (with proper documentation).
2. Transfer Funds in Foreign Currency
2. Transfer Funds in Foreign Currency
Send the money from your overseas account in foreign currency (USD, EUR, GBP, etc.) — not Thai Baht. The Thai bank will convert it upon arrival.
💡 Why? Because the FET form is only issued when the incoming transfer is in foreign currency.
3. Use the Correct Reference
3. Use the Correct Reference
In your bank’s transfer form, include:
Purpose: “For purchase of condominium unit in Thailand”
Buyer’s full name
Project or property name (if known)
Also include:
SWIFT Code of the receiving Thai bank
Recipient’s account name must match the buyer
4. Request a Foreign Exchange Transaction Form (FET)
4. Request a Foreign Exchange Transaction Form (FET)
If the transfer is over $50,000 USD (or equivalent), the Thai bank is required to issue an FET form.
This document proves:
The money came from abroad
It was used for purchasing real estate
It was exchanged into Thai Baht legally
You will need this to:
Register a foreign freehold condo
Show to the Land Office at time of title transfer
Apply for certain visa or tax-related purposes
For smaller amounts (under $50,000), some banks may issue a credit advice or confirmation letter instead — acceptable if it states the funds were for property purchase.
📄 What Is the FET Form (Tor Tor 3)?
📄 What Is the FET Form (Tor Tor 3)?
The FET form (Foreign Exchange Transaction form) is issued by Thai banks for inward foreign currency transfers of over $50,000 USD.
It is a legal requirement when:
Buying a condo under foreign freehold
Using foreign funds to purchase real estate in your name
Make sure:
The form is in your name (not someone else’s)
The purpose of transfer is listed correctly
You keep a copy for your lawyer or conveyancer
💳 Bank Tips & SWIFT Details
💳 Bank Tips & SWIFT Details
Example:
Example:
Recipient Name: Mr. John Smith
Thai Bank: Bangkok Bank
SWIFT Code: BKKBTHBK
Purpose: Property purchase in Phuket
Currency: USD (not THB)
❌ Common Mistakes to Avoid
❌ Common Mistakes to Avoid
Sending Thai Baht instead of foreign currency
Putting the wrong recipient name (must match buyer)
Vague purpose (“personal transfer” or “investment”)
Not requesting an FET form in advance
Using crypto or non-traceable sources — these are not accepted
📝 What If You're Buying Leasehold or Through a Company?
📝 What If You're Buying Leasehold or Through a Company?
If you're purchasing a leasehold villa or buying through a Thai company, the FET form isn’t always required — but it's still good practice to document your funds properly. Some developers or lawyers may still ask for remittance proof for tax or compliance purposes.
📌 Final Thoughts: Keep It Legal and Clear
📌 Final Thoughts: Keep It Legal and Clear
Transferring money to Thailand for property is easy — but only when you follow the correct legal steps.
If you:
Transfer in foreign currency
Use a Thai bank with proper reference
Request and retain your FET form
… you’ll have no issue registering your property and completing the purchase smoothly.
If you’re unsure or need support during the money transfer stage, I can coordinate with the developer, lawyer, and bank to ensure everything is done properly.
Reach out anytime —
WhatsApp: https://wa.me/66623422169
Email: amir.a@fazwaz.com
Frequently Asked Questions – Transferring Money to Thailand for Property
Frequently Asked Questions – Transferring Money to Thailand for Property
1. Can I send Thai Baht directly from my foreign bank account?
1. Can I send Thai Baht directly from my foreign bank account?
No — you must send money in foreign currency (USD, EUR, etc.) to a Thai bank. The funds should be converted into Thai Baht inside Thailand to qualify for the Foreign Exchange Transaction (FET) form.
2. What is the FET form, and why is it important?
2. What is the FET form, and why is it important?
The FET form (Foreign Exchange Transaction form) is a legal document issued by Thai banks when you send more than $50,000 USD into Thailand. It proves:
The funds came from abroad
The purpose was property purchase
You’ll need it to register a foreign freehold condo or declare funds for legal and tax purposes.
3. How much money do I need to transfer to get an FET form?
3. How much money do I need to transfer to get an FET form?
The minimum is $50,000 USD (or equivalent) in a single transaction. For amounts below that, the bank may issue a credit note or confirmation letter instead — make sure it states the purpose clearly.
4. Can I send the money to the developer directly?
4. Can I send the money to the developer directly?
In some cases, yes — especially if the developer has a proper escrow or project account. However, the safest method is to send the funds to your own Thai bank account first and then forward them locally.
5. What happens if I don’t get the FET form?
5. What happens if I don’t get the FET form?
Without an FET form or proof of foreign transfer, you may not be able to register the condo under foreign freehold. You could also face issues with legal verification or taxes later.
6. What should I include in the transfer note?
6. What should I include in the transfer note?
Your transfer should clearly state:
Purpose: “For property purchase in Thailand”
Your full name (must match buyer name)
Project or developer name (if known)
This ensures the bank understands the transaction’s purpose when issuing your FET form.
7. Can I use cryptocurrency or online money transfer apps?
7. Can I use cryptocurrency or online money transfer apps?
No. Crypto and non-traditional remittance apps like Wise or Revolut may not qualify for FET documentation. Always use a traditional bank-to-bank wire transfer (SWIFT) for property purchases.
8. Do I need an FET form if I buy leasehold or through a company?
8. Do I need an FET form if I buy leasehold or through a company?
Not always. The FET form is mostly required for foreign freehold condo registration. For leasehold or company purchases, a properly documented transfer is still recommended, but the FET form may not be mandatory.
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