Buying a condominium in Thailand as a foreigner comes down to one piece of paper at the Land Office: the proof that your purchase money came from overseas in foreign currency and was converted to baht inside Thailand. Get the money transfer right and registration is routine. Get it wrong and the Land Office can refuse to put the unit in your name. This guide walks through what the Foreign Exchange Transaction (FET) record is, the current Bank of Thailand thresholds for 2026, and the transfer mistakes that cost buyers time.
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What is the FET (Foreign Exchange Transaction) form, and why do I need it?
The FET is the receiving Thai bank’s official evidence that overseas funds entered Thailand in foreign currency and were converted to baht. The Land Department requires this proof to register a unit under the foreign-freehold quota.
The legal reason sits in the Condominium Act, where Section 19 requires a foreign buyer to show that the purchase price was remitted from abroad. The document links your foreign money to the specific purchase, which is what makes foreign ownership of the unit lawful.
After any qualifying conversion, the bank issues evidence of the transaction to the customer. That evidence is what real estate professionals and Land Office staff still call the FET, even though the document itself has changed shape over the years.
Is there really a USD 50,000 threshold, or is it USD 200,000 now?
Both numbers are real, but they answer different questions. The USD 50,000 figure is the legacy reporting threshold for the old standardized FET form. The current documentation-verification threshold under Bank of Thailand rules is USD 200,000.
The standardized form most older guides describe was restructured back in 2017 into a Credit Advice or Proof of Foreign Exchange Transaction issued by the receiving bank. The name on the paper varies by bank, but the function is identical: it records the foreign currency in, the baht out, the rate, the purpose, and the names.
What the Bank of Thailand publishes today is a documentation rule, not a form-issuance rule. For transactions of USD 200,000 or above, the bank must collect supporting documents unless it has already run a Know Your Business check on the customer. Below that level the bank still issues your evidence document on request, and the Land Office still expects to see it, which is why every buyer should ask for it regardless of amount.
What changed on 29 December 2025 for property transfers?
A documentation rule that took effect on 29 December 2025 removed the easy path for large property inflows. Transfers of USD 200,000 or more flagged for Thai real estate now require full supporting documents, with no shortcut for established bank customers.
Under the rule effective 29 December 2025, Thai real estate investment is one of four categories where banks cannot lean on a Know Your Business record to wave the transfer through. They must request full evidence, such as the sale and purchase agreement, on the trade date or no later than the settlement date.
The mechanism behind it is the Know Your Business carve-out in the Bank of Thailand framework. For most customers a prior KYB check satisfies the documentation requirement, but property purposes at or above USD 200,000 are deliberately excluded from that convenience. The practical takeaway for 2026: have your signed contract ready before you wire, not after.
How do I transfer the money, step by step?
The reliable sequence is account, wire, convert, request. Open a Thai bank account in your own name, wire the full price from your overseas account in foreign currency, let the Thai bank convert it to baht, then ask that same bank for the FET.
Use your own personal Thai account where possible so the names line up cleanly. Send the money in a foreign currency such as USD, EUR, or GBP rather than baht, because the conversion has to happen inside Thailand to qualify. State the purpose in the transfer instruction, naming the unit and project, so the bank logs it correctly and can describe the purpose on the document.
Timing matters because only the first bank that receives your funds can issue the FET to you. If you route the money through several accounts before it lands where you need it, the evidence trail can break. Where a buyer has no Thai account yet, an escrow arrangement with a licensed agent or law firm is the common workaround, and the agent collects the FET on the buyer’s behalf.
Bank SWIFT vs Wise vs cash: which method actually generates an FET?
A bank-to-bank SWIFT transfer in foreign currency is the dependable method for a foreign-quota purchase. Money-transfer apps and physical cash can work for smaller needs but carry traps for a property registration.
| Method | Sends foreign currency into Thailand? | Generates FET evidence? | Speed and cost | Suitable for foreign-quota registration? |
| Bank SWIFT transfer | Yes, in the original currency, converted on arrival | Yes, the receiving bank issues it on request | 1 to 3 business days; bank fees plus FX spread | Yes, the standard route |
| Wise / money-transfer service | Often delivered as baht over local rails | Sometimes, but it can register as a domestic deposit | Fast and low cost | Risky; confirm with the receiving bank first |
| Physical cash carried in | Yes, but subject to declaration limits | Only after a customs declaration and bank conversion | Immediate, but heavily restricted | Possible but impractical for full price |
The Wise question causes the most confusion. A Wise transfer can appear as a domestic deposit rather than an inbound foreign remittance, because of how the service settles money locally. Wise’s own guidance is that you can still ask your receiving Thai bank for a Credit Advice or Proof of FET, and you contact the bank that received the transfer to request it, supplying the sale and purchase agreement for a property purpose.
Cash has its own ceiling. Bringing in foreign banknotes above USD 15,000 requires a customs declaration on entry, and the bank will want that declaration before it converts the notes and documents the source. For a full condominium price, a wire is simply cleaner.
Whose name must be on the FET, and what must it show?
The buyer’s name has to appear on the FET, as either the sender or the receiver of the money. The document also has to carry the financial details the Land Office checks.
A valid FET shows the remitter and the recipient, the amount in foreign currency, the amount in baht, the exchange rate used, and the stated purpose of the remittance. For a condo purchase that purpose should read as the purchase of the specific unit, ideally naming the project.
Names are where transfers stall. Because the buyer must appear as sender or receiver, the spelling on your passport, your overseas account, your Thai account, and the sale and purchase agreement should match. A middle name on one document and not another is enough to trigger a bank query, so it pays to check every line before sending.
Why keep the FET after you complete the purchase?
Keep the original FET because you will need it to take your money back out when you sell. Non-resident funds can be repatriated in foreign currency only when they were brought into Thailand properly in the first place.
Thailand places no limit on bringing funds in, and non-residents can repatriate the proceeds of a sale, provided the inbound transfer was documented. The FET from your purchase is the anchor of that trail. Without it, sending sale proceeds abroad in foreign currency becomes slow and, in some cases, blocked. Store the original somewhere safe and keep digital copies of the FET, the SWIFT confirmation, and the bank receipts together.
Frequently asked questions
Can I send the funds straight to the developer instead of my own account?
Yes, if the developer has a proper project or escrow account and handles the FET issuance for you. The safer route is your own Thai account in your name, so the evidence carries your name without relying on a third party.
Does the FET expire?
No, it does not expire, which is exactly why you keep the original indefinitely. You may need it years later to repatriate sale proceeds when you sell the unit.
Can I carry cash in instead of wiring the money?
Only within limits and with paperwork. Foreign banknotes above USD 15,000 require a customs declaration on entry, and the bank needs that declaration before converting and documenting the funds, which makes cash impractical for a full purchase price.
Which currencies are accepted? Major currencies such as USD, EUR, GBP, AUD, SGD, and JPY are routinely accepted. The rule that matters is that the money arrives in a foreign currency and is converted to baht inside Thailand, never sent as baht from abroad.
Can I still get an FET if I send the money through Wise?
Possibly, but you have to ask the receiving Thai bank directly for a Credit Advice or Proof of FET, because a Wise transfer can settle as local baht rather than an inbound foreign remittance. For a foreign-quota purchase, a bank-to-bank SWIFT transfer in foreign currency avoids the risk entirely.
My Thai bank statement shows the transfer as a domestic deposit. Is that a problem?
It can be, because the Land Office needs evidence the funds arrived from abroad, and a domestic-deposit line does not show that foreign origin. Contact the bank that received the money and ask it to issue the FET or Credit Advice reflecting the inbound foreign transfer.
Do I need to send the full amount in a single transfer?
No, several transfers are fine as long as each one is properly documented and the FETs together cover the purchase price. Keep every FET, since the Land Office adds them up to confirm the full foreign-sourced amount.
Who actually requests the FET, me or the bank?
You do, or your agent on your behalf, because banks do not always issue it automatically. Ask the receiving bank for it at the time of the transfer so it is recorded correctly and not missed.
The bottom line
For a foreign-quota condo, send the full price by bank-to-bank SWIFT in a foreign currency, let a Thai bank in your own name convert it to baht, and request the FET at the time of transfer. Keep the original, because you need it to prove the purchase was funded from abroad today and to repatriate your money when you sell.
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