Ownership & Legal
How does the Foreign Exchange Transaction form work?
The honest answer, first. The reasoning, second. The trade-offs, last.
The Answer
The Foreign Exchange Transaction (FET) form is issued by the receiving Thai bank when foreign currency of USD 50,000+ (or equivalent) is remitted into Thailand and converted to THB. It documents the overseas-source funds, is required at the Land Department for foreign-quota condominium registration, and is essential for future repatriation of sale proceeds.
Why this is the answer.
Funds must be remitted in foreign currency from an account in the investor's name (or via an authorised third-party route) and converted to THB by the receiving Thai bank. The remittance purpose should specify property purchase and reference the unit/contract.
The bank issues the FET form (formerly known as Tor Tor 3) covering the converted amount. Multiple remittances are aggregated. The FET form is submitted to the Land Department alongside other documents at unit registration.
On future sale, repatriation of THB proceeds back to foreign currency uses the FET form as evidence of the original inbound remittance - without it, repatriation is materially harder and may be capped. Preserve all FET forms for the full holding period.
What to do about it.
- Remit in the investor's own name where possible - third-party routes complicate documentation.
- Specify the property purchase purpose on each remittance.
- Preserve every FET form for the entire holding period and after sale.
What can break the thesis.
- Missing FET-form documentation can block both registration and future repatriation.
- Third-party remittances can trigger AML scrutiny and registration delays.
- FX rate at remittance is locked at conversion - timing matters.
Your Next Step
Review the Foreign Buyers Guide and your nationality-specific ownership guide before evaluating individual properties.
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