FET (Foreign Exchange Transaction) — what it means
The FET form is a bank document confirming foreign currency was brought into Thailand to buy property. Without it a foreigner cannot register freehold, and repatriating proceeds on resale becomes harder.
Why the FET form exists
Thailand operates currency controls: the bank that receives an overseas transfer records the inflow of foreign currency and issues a confirming document on request. To register freehold in a foreigner’s name, the Land Department requires proof that the purchase money came from abroad in foreign currency — the role played by the FET form together with bank letters.
How to transfer the money correctly
Send the transfer in foreign currency and let the Thai bank convert it into baht — a transfer sent in baht from the start does not qualify for an FET. State the purpose in the payment reference — the purchase of a specific unit — along with the buyer’s name. Keep the documents: the same set will be needed to repatriate the funds on a future sale.
How this works with us
We give the client the bank details and the exact payment-reference wording, agreed with the bank and the developer, in advance — and after the transfer we check that the bank has issued a confirmation for every tranche before the registration date. The client keeps copies in the deal file — they will be needed when moving the money back out.
Frequently asked questions
What is an FET?
A bank document confirming that foreign currency was brought into Thailand for a property purchase. Without it, freehold cannot be registered in a foreigner’s name.
What happens if I transfer the money in baht?
Such a transfer does not count as importing foreign currency, and the bank cannot issue the confirmation needed for freehold registration. The receiving Thai bank should handle the conversion.
Is an FET needed for leasehold?
The form is not mandatory for registering a lease, but proof of imported funds makes future repatriation of the money easier, so it is arranged in leasehold deals as well.
FET: how to transfer money into Thailand correctly →
Primary source: Bank of Thailand
See it on a real property
Terms matter when there is an actual deal behind them. We will show how this one works on a project from the catalogue — documents and numbers included.
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