Tax guide
Foreign Currency Transfer for Thailand Property Purchase
Quick answer
A foreign individual buying freehold Thai property in their own name must remit the funds into Thailand in foreign currency, and the receiving bank issues a Foreign Exchange Transaction (FET) form that is required at the Land Department at transfer and again to repatriate the sale proceeds. The Bank of Thailand sets the rules and the reporting threshold at 50,000 USD or equivalent as of Q3 2026. There is no tax on the inbound transfer itself.
Key facts
| Item | Value |
|---|---|
| FET reporting threshold | 50,000 USD equivalent per transfer |
| FET purpose at transfer | Evidence of foreign origin of funds |
| Repatriation of sale proceeds | Unrestricted with original FET |
| Inbound transfer tax | None on the transfer itself |
| Below threshold handling | Credit advice instead of FET |
Why the FET form matters
The Foreign Exchange Transaction form, called the FET and formerly the Tor Tor 3, is issued by the receiving Thai bank when foreign currency of 50,000 USD or equivalent arrives into a Thai account. The FET records the sender, the amount, the currency, and the purpose. It is required at the Land Department at transfer to evidence that the funds for a freehold condominium purchase in a foreign name originated abroad, which is a precondition of the foreign quota freehold right. It is required again on a future sale to repatriate the proceeds in foreign currency. A purchase without the FET cannot be registered in a foreign name as freehold, and a resale without the FET cannot be repatriated cleanly.
The remittance route and the purpose code
Funds are sent from the buyer home bank to the Thai receiving bank in the buyer name, in foreign currency, with the remittance purpose stated as purchase of a condominium or property. The Thai bank converts to THB at the prevailing rate or holds in a foreign currency account, and issues the FET on receipt. The receiving account must be in the buyer name, matching the passport. A transfer from a company account or a third party account does not produce a usable FET for an individual freehold purchase. A DACH buyer should remit from their own Euro account to their own Thai Baht or foreign currency account at Kasikorn, Bangkok Bank, or Krungthai in Hua Hin.
The 50,000 USD threshold and small transfers
The FET is issued automatically for incoming transfers of 50,000 USD or equivalent and above. Below that threshold the bank issues a credit advice rather than an FET, which is accepted at the Land Department for smaller units but should be confirmed with the bank and the lawyer before the remittance. For a 2.4 million THB studio purchase, the transfer may sit below the threshold and the credit advice is the document of record. For a 28 million THB penthouse, the FET is automatic.
Holding the funds before transfer
Funds can be held in a Thai Baht account or a foreign currency account before the Land Department transfer. A foreign currency account avoids the conversion risk between remittance and transfer, which matters when the calendar slips. The Land Department requires the funds to be available in a Thai Baht manager cheque or same day transfer on the transfer day. Plan the conversion one to two working days ahead, because large conversions require bank notice and an exchange rate confirmation.
Repatriating the sale proceeds
On a future sale of a freehold condominium held in a foreign name, the original FET allows the sale proceeds to be repatriated in foreign currency, unrestricted, through the same receiving bank or another Thai bank. Without the original FET, repatriation is possible but slower and requires a Revenue Department clearance and a bank review of the source. Keep the original FET with the Chanote from purchase to sale; a lost FET can be reissued by the issuing bank but with delay. A company held villa repatriates differently, through dividend, director fees, or liquidation, and is not covered here.
Tax and the double taxation position
There is no Thai tax on the inbound foreign currency transfer itself. A capital gain on a resale is taxable in Thailand for a company seller but generally not for an individual non resident seller of a personal residence, and the home country tax treatment depends on the double taxation agreement. Germany, Sweden, the UK, and Japan each have a treaty with Thailand that affects the treatment of a Thai property gain. Take advice in both jurisdictions before the sale, not after. The inbound transfer is the easy part; the outbound treatment is where the planning value sits.
Sources
This guide is published as of the updated date shown above and reflects Thai land and tax rules current at that time. It is general information and not specific legal or tax advice. For a transaction, instruct a Thai-qualified lawyer or accountant.
Frequently asked questions
What is the FET form and why do I need it?
The Foreign Exchange Transaction form is issued by the receiving Thai bank when foreign currency of 50,000 USD or equivalent arrives. It evidences the foreign origin of the funds and is required at the Land Department to register a freehold condominium in a foreign name, and again to repatriate the sale proceeds.
Is there tax on transferring money into Thailand to buy property?
No. There is no Thai tax on the inbound foreign currency transfer itself. Tax treatment applies on any resale gain and on rental income, and depends on the double taxation agreement between Thailand and the buyer home country.
What happens if my transfer is below 50,000 USD?
Below the threshold the bank issues a credit advice rather than an FET. The credit advice is accepted at the Land Department for smaller units, but confirm with the bank and the lawyer before the remittance, because the document of record matters at transfer.
Can I send the funds from a company account or a family member account?
No, not for an individual freehold purchase. The receiving Thai account and the FET must be in the buyer name matching the passport. A third party transfer does not produce a usable FET for a foreign name freehold registration.
Can I hold the funds in foreign currency before transfer?
Yes. A foreign currency account at a Thai bank avoids the conversion risk between remittance and the Land Department transfer day. Convert to Thai Baht one to two working days ahead, because large conversions require bank notice and a rate confirmation.
How do I bring the money back when I sell?
The original FET allows unrestricted repatriation of the sale proceeds in foreign currency through a Thai bank. Without the original FET, repatriation is slower and requires a Revenue Department clearance. Keep the FET with the Chanote from purchase to sale.
Does the Germany Thailand tax treaty affect a property gain?
Yes. Thailand and Germany have a double taxation agreement that sets which jurisdiction taxes a Thai property gain for a German resident. The treatment differs for a personal residence and a rental asset. Take advice in both jurisdictions before the sale, not after.
How long does an inbound transfer to a Thai bank take?
A SWIFT transfer from a European bank to a Thai bank typically arrives in one to three working days. The FET is issued on the day the funds are received and converted. Plan the remittance to land ahead of the Land Department appointment, not on the same day.