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An FET form (Foreign Exchange Transaction) is a certificate issued by a Thai bank. It confirms that money reached a Thai bank account from abroad in foreign currency and that the bank converted it into baht; the buyer may be named as the sender or the receiver of the transfer. Under section 19 of the Condominium Act, a foreigner can buy a condo unit if the purchase money came from outside Thailand in foreign currency — one of the conditions for buying within the 49% quota (the share of a condominium's total unit area that foreign owners may hold in total; common areas are not counted). In practice, the Land Office treats this certificate as proof of that condition when it registers the sale. The bank that received the transfer issues it.
Where the FET form comes up
The FET form comes up most often when a foreigner buys a condo unit freehold (outright ownership). At registration, the Land Office checks that the purchase money came from abroad in foreign currency, and in practice it accepts this certificate as proof. For other procedures, ask the office handling your matter which document it needs.
If you are wiring money from the UK, the US or Australia, ask for the FET form from the Thai bank that receives the transfer, not from your bank at home. A letter or statement from your own bank does not serve the same purpose at a Thai Land Office.
If you have not settled on a visa or a moving plan yet, our guide on what else to arrange when moving to Phuket covers the paperwork and the banking side in more detail.
How an FET differs from a credit advice
Ask the receiving bank whether its credit advice records the overseas foreign-currency transfer and whether the Land Office also needs a bank confirmation letter. For registering a condo purchase, the Land Office in practice wants evidence that the money also came from abroad in foreign currency, and an FET form is how Thai banks usually provide that. Whether a credit advice is enough on its own, or whether the bank must issue a bank confirmation letter as well, is something to confirm with your bank and the Land Office beforehand. We have not found an official explanation of where the line sits; this is how Thai banks and lawyers describe the practice.
What to check when you send the money
Before you transfer money for a purchase, we suggest agreeing the details with the developer and your bank:
- agree in advance how you will appear on the transfer, as sender or receiver;
- send the money from abroad and in foreign currency, not already converted into baht;
- put the unit purchase, the project name and the unit number in the payment reference;
- request the FET form from the Thai bank that receives the transfer — not from your home bank.
We have not found one official threshold for the amount that triggers a certificate: some sources name a fixed figure, others say any transfer qualifies. [CHECK: our advice, not a stated rule] Until that is clarified, we suggest asking the bank and the Land Office which document applies to your transfer before you send the money.
If you already have the certificate, send it to us along with your contract. Our lawyers will check whether it carries everything the registration needs. Our preliminary review of a purchase or reservation contract is free and takes up to 48 hours.
