The FET form: how to send money to Thailand to buy a condo

Short answer

The FET form (Foreign Exchange Transaction form) is a document from the Thai bank that receives your money. It shows that foreign currency came into Thailand to buy your condo. The Land Office asks for it before it registers a unit in your name as foreign freehold, which means freehold ownership within the foreign quota of the condominium. To get it, send the money in a foreign currency, from your own account abroad, with the purpose written in the payment reference.

Buyers usually trip up on currency, payment reference, sender name, instalments and transfer apps, so those come next.

Legal status as of 24 October 2026. This is general information, not legal advice. Your lawyer and your receiving bank should confirm each step before you send the first payment.

Why the transfer method matters

Thai law lets a foreigner own a condominium unit only in certain cases. Section 19 of the Condominium Act lists them, and the one that applies to most buyers from abroad is bringing foreign currency into Thailand to pay for the unit. Section 19 also refers to funds taken from a non-resident baht account or a foreign currency account in Thailand. Ask your lawyer whether that route fits your case, because most buyers simply send money from home.

The Department of Lands explains how this works in practice. You transfer foreign currency to the seller’s bank account in Thailand and state the purpose of the transfer. The receiving bank then issues the FET form, and you present it at the Land Office when the unit is transferred. The Department of Lands expects the foreign currency brought in to be at least equal to the purchase price, so ask your lawyer to confirm that your bank documents, taken together, cover it.

How you send the money is part of the purchase. A payment in the wrong currency or from the wrong person can still pay the developer, but it may not count towards your right to register the unit in your name.

FET form, Thor Tor 3 or credit advice?

You will see several names. Some guides call the document the Thor Tor 3 form, which a Thai law firm describes as an older form number. The Bank of Thailand’s own material does not use that name today. The Bank of Thailand’s current summary of the exchange control rules says only that authorised banks issue evidence of each foreign exchange transaction to the customer. Some banks still call that evidence an FET form. Others issue a credit advice or a letter that confirms the foreign currency and the purpose.

What matters is the content, not the name. The document should show your name, the amount and currency received, the date, and the purpose: the purchase of a condominium unit. Ask your lawyer which format the Land Office on Koh Samui accepts.

Which currency to send

Send euros, pounds sterling, US dollars or another foreign currency, not Thai baht. Ask the receiving bank which currencies it accepts for this purpose. The conversion into baht should happen in Thailand, at the receiving bank, because that conversion is the foreign exchange transaction the document records.

If your bank offers to convert to baht before sending, decline. The money might arrive in baht with no foreign currency coming into Thailand, and then the receiving bank may not be able to document it.

Exchange rates and charges differ between banks. Your bank, any intermediary bank and the receiving bank may each take a fee. Ask your own bank how it charges for an international (SWIFT) transfer, and ask whether you can choose to pay all charges yourself so the full amount arrives. How the exchange rate on each payment day changes what you pay is explained in baht to euro: how the exchange rate changes your condo price.

What to write in the payment reference

The Thai government portal says banks ask the sender to state the purpose of the transfer, and it gives the purchase of a condominium as an example. Keep the reference short and specific, for example:

Purchase of condominium unit [unit number], The Astra Samui, buyer [your full name]

Use the unit number from your reservation agreement and your name exactly as it appears in your passport. Some online banking forms limit the length of the reference, so put the purpose first. If the field is too short, tell the receiving bank the purpose in writing as well, through the developer or your lawyer.

Sender name and joint buyers

The safest approach is to send from an account in the buyer’s own name, so that the name on the bank document matches the name on the title. A transfer from a parent, a friend or a business account can create questions on transfer day, so agree it with your lawyer first.

If two people buy together, each should normally send part of the price from their own account, or from a joint account in both names. Agree this with your lawyer before the first payment, because the documents must support both names.

This guide covers buying in your own name. Ownership by a company follows different rules, which are outside the scope of this guide.

Instalments during construction

New condominiums are usually paid for in stages, so you will send money several times. Every payment that counts towards the price needs the same treatment: foreign currency, your account, the purpose in the reference, and a bank document afterwards. Ask your lawyer how the Land Office will count them when the unit is transferred to you.

Keep a simple table as you go: date, amount sent, currency, amount received in baht, and the reference of the bank document. When the last payment arrives, the table shows at a glance whether your documents cover the full price.

If you want to see how this fits into the whole purchase, our guide to buying an off-plan condo in Thailand covers the contract stages, and the costs guide lists what you pay on transfer day.

The bank document you need

When to expect the document, and in what form, depends on the amount and on the bank. The sources do not give one number:

• The Thai government portal says that for a remittance of US$50,000 or the equivalent, the foreign exchange transaction form and supporting documents are required, and the bank issues the certificate.
• The Bank of Thailand’s current summary says banks must ask for supporting documents for transactions of US$200,000 or more, and that they issue evidence of the transaction after it is done.

Within those rules each bank sets its own procedure, and many issue the FET form only above a certain amount. For smaller payments they may issue a credit advice or a confirmation letter instead. Before you send anything, ask the receiving bank, in writing, which document it will issue for your amount and how quickly. Then check with your lawyer that the Land Office will accept it.

Ask the receiving bank to whom it will issue the document, and get a copy after every payment, not at the end.

Bringing cash

Bringing foreign currency into Thailand in cash is another route the Department of Lands mentions: you declare it to Customs on arrival, and that declaration becomes your evidence. Ask your lawyer about it first. According to the Bank of Thailand, foreign currency banknotes exceeding US$15,000 or the equivalent must be declared to Customs when you enter or leave the country. Large sums of cash are risky to carry and harder to document. For most buyers a bank transfer is the better choice.

Money transfer apps: check first

Wise, Revolut and similar apps can be cheaper than a bank. The question is how the money reaches Thailand. Some of them pay out in baht from a local Thai account, in which case the receiving bank sees a domestic baht payment, not foreign currency arriving from abroad.

Some services can also send a SWIFT transfer in foreign currency, which may solve the problem. Before you use one, ask the receiving Thai bank whether it will issue the document for a transfer from that service, and get the answer in writing. If you cannot get a clear yes, use your bank.

Keep it for the day you sell

Keep the original bank documents, together with your contract and the title deed. You need them at the Land Office on transfer day, and they record that the purchase money came from abroad.

You will need them again when you sell. The Bank of Thailand’s exchange control summary covers the repatriation of investments by non-residents, and your bank will likely ask for the purchase and sale documents when you send the proceeds abroad. Store paper and scanned copies in two places.

This guide covers the Thai side only. Tax, reporting and bank rules in your home country, whether that is in the EU, the UK, Singapore or Hong Kong, are a question for an adviser there.

Checklist before the first payment

1. Confirm in writing that your unit is available as foreign freehold.
2. Ask the receiving Thai bank which document it will issue for your amount.
3. Ask your lawyer whether the Land Office accepts that document.
4. Send from an account in your own name, in a foreign currency, not baht.
5. Put the purpose, unit number and your name in the payment reference.
6. Ask for a copy of the bank document after every payment.
7. Keep a table of all payments and store the originals safely.

Payments at The Astra Samui

According to the developer, ownership at The Astra Samui is freehold; foreign buyers purchase freehold within the foreign quota, and leasehold is also available. For foreign freehold, the developer’s buyer FAQ says: For foreign freehold, funds must come from abroad in a foreign currency (not Thai baht). The buyer pays any bank transfer charges. Foreign freehold: the unit title deed is issued in the buyer’s own name.

The payment plan, according to the developer: Payments: 30% by 22 December 2026 (less the reservation fee), 30% when the roof structure is complete (planned for February 2028), 40% at handover (planned for December 2028). The developer does not offer financing. Each of these payments needs its own bank document. Your sale and purchase agreement is what binds both sides, so check its payment clauses with your lawyer.

We at Varsovia Estate, the sales agent for The Astra Samui, can explain the payment steps before you send anything, so the currency, reference and sender name are right the first time. The how to buy guide explains every step from reservation to transfer, the price list shows what is known about each apartment type, and you can book a call if you want us to walk you through your first payment. If you are still at the start, read can foreigners buy property in Thailand first.