Foreign Exchange Transaction (FET) Form in Thailand: Complete Guide for Foreign Buyers 2025

What is an FET Form?

The Foreign Exchange Transaction (FET) form is an official certificate issued by Thai banks that serves as legal proof of foreign currency transfer. This document is essential when purchasing a condominium in Thailand. The form verifies:

• Foreign currency (USD, EUR, GBP, etc.) was transferred into Thailand
• The bank converted these funds into Thai Baht
• The transfer purpose was specifically for property purchase

Think of the FET form as your official proof that your condominium was purchased with legitimate overseas funds—not Thai-sourced income or local financing.

Why is the FET Form Essential for Foreign Property Buyers?

1. Legal Compliance

   Thai law requires foreigners to purchase condominiums exclusively with foreign-sourced funds. The FET form serves as mandatory evidence that this legal requirement has been met. Without it, the transaction cannot proceed legally.

2. Land Department Registration

   During the property transfer at the Land Office, officials will request your FET form. This document is non-negotiable—without it, your condominium cannot be registered in your name, regardless of payment completion.

3. Future Fund Repatriation

   When you eventually sell your property and wish to transfer proceeds abroad, Thai banks require the original FET form. Without this document, repatriating your funds internationally may be impossible or significantly delayed.

When Do You Need an FET Form?

• ✅ Required: When purchasing a condominium unit in your personal name as a foreigner
• ❌ Not Required: Land purchases (foreigners cannot own land directly in Thailand)
• ❌ Not Required: Property purchased through a Thai-registered company or Thai spouse (alternative regulations apply)

How to Obtain Your FET Form: Step-by-Step Process

1. Transfer Funds from Abroad
   • Send money in foreign currency only—never in Thai Baht
   • Example process: USD/EUR/GBP sent → Thai bank receives and converts to THB → FET form issued
   • Ensure the transfer amount covers the full property purchase price
2. Specify Transfer Purpose Clearly
   • In transfer notes, write: "For purchase of condominium unit [unit number] at [condominium name], [city], for [Your Full Legal Name]"
   • Clear purpose description ensures proper FET form issuance by the bank
   • Avoid vague descriptions like "property investment" or "personal use"
3. Choose Your Transfer Destination
   • Option A: Your personal Thai bank account—after currency conversion, request the FET form directly from your bank
   • Option B: Thavorn Asia Property company account—transfer funds to our authorized account, and we handle complete FET form preparation on your behalf. Our company is fully licensed to manage this process for international clients
4. Verify and Collect Your FET Form
   • Confirm the form includes: your full legal name, foreign currency amount, converted THB amount, and specific purchase purpose
   • Check for any spelling errors in your name or property details
   • Request corrections immediately if any information is incorrect
5. Submit at Land Office on Transfer Day
   • Bring the original FET form to the property transfer appointment
   • Land Department officials will retain the FET form as part of permanent records
   • Keep certified copies for your personal records before submission

Real-World Example: FET Form Process

Mr. John Smith purchases a condominium in Pattaya for 3,000,000 THB. He transfers $90,000 USD from his bank in the United States to his Thai bank account. The bank converts the dollars to Baht at the current exchange rate and issues an FET form stating: "Funds transferred for the purchase of condominium unit 5B, Ocean View Condominium, Pattaya, for Mr. John Smith."

On the scheduled transfer day at the Land Office, John presents the FET form along with other required documents. The Land Department officials verify the form, and the condominium is successfully registered in John's name with full legal ownership rights.

Essential Tips for FET Form Success

• Always use foreign currency: Never send Thai Baht—the FET form cannot be issued for THB transfers
• Be specific with purpose: Clearly state "purchase of condominium for [your full legal name]" in all transfer documentation
• Verify name accuracy: Ensure your name matches your passport exactly in all transfer details
• Preserve the original: Keep the FET form secure—you'll need it for future property sale and fund repatriation
• Plan timing carefully: Allow 2-3 business days for international transfers and FET form issuance
• Transfer sufficient funds: Ensure the converted amount covers the full purchase price plus transfer fees

How Thavorn Asia Property Simplifies Your FET Process

International money transfers and Thai banking requirements can be complex and stressful. Thavorn Asia Property provides comprehensive FET form support for all our clients:

• ✅ Expert guidance: We provide detailed instructions on correct money transfer procedures
• ✅ Bank coordination: Direct communication with Thai banks to ensure proper FET form issuance
• ✅ Document preparation: Complete preparation of all Land Office documentation
• ✅ Quality assurance: Verification of all details before Land Department submission
• ✅ Ongoing support: Available to answer questions throughout the entire process

Flexible Transfer Options: Whether you prefer transferring funds to your personal Thai account or directly to our company account, we are fully authorized and equipped to handle FET form processing efficiently and correctly.

Ready to Buy Property in Thailand?

Purchasing property in Thailand should be an exciting milestone, not a source of stress. Let Thavorn Asia Property handle all technical requirements while you focus on finding your perfect condominium.

Thavorn Asia Property—Your Trusted Partner for Thailand Real Estate Investment