FET Certificate Thailand 2026: Required Documents, Bank Process & Timeline for Foreign Property Buyers

The Bank of Thailand’s Q2 2026 reaffirmation of foreign exchange remittance rules has put the Foreign Exchange Transaction (FET) Certificate back in focus. Under the current regime — clarified by Bank of Thailand circular updates effective March 2026 — every foreign buyer transferring USD 50,000 or more in a single transaction must obtain an FET Form (formerly “Tor Tor 3”) from the receiving Thai bank. Without this single document, the Land Department in Phuket will refuse to register the foreign quota condominium transfer, regardless of how much the buyer has paid the developer.

Demand for clarity is rising: Phuket Land Office data shows that around 18% of foreign condo registrations in Q1 2026 were delayed by an average of 11 working days because of incomplete or incorrectly issued FET Certificates. MORE Group has compiled the updated 2026 process below to help international buyers avoid the most common pitfalls.

Which Thai Banks Issue FET Certificates in 2026

All commercial banks licensed by the Bank of Thailand can issue FET Forms, but service quality and processing times vary significantly. Based on Q1 2026 client transactions handled by MORE Group, the most efficient banks for foreign property buyers in Phuket are:

Bank	Avg. processing time	Min. transaction for FET	Online tracking	Foreign-buyer desk
Bangkok Bank	7–10 working days	USD 50,000	Yes (mobile app)	Yes — Patong, Phuket Town
Siam Commercial Bank (SCB)	8–12 working days	USD 50,000	Yes (SCB Easy)	Yes — Central Festival branch
Kasikornbank (KBank)	7–14 working days	USD 50,000	Yes (K PLUS)	Yes — Boat Avenue Cherngtalay
Krungsri (Bank of Ayudhya)	10–14 working days	USD 50,000	Limited	Selected branches
Krungthai Bank (KTB)	12–15 working days	USD 50,000	Limited	Limited foreign support

Bangkok Bank remains the preferred option for the majority of MORE Group clients due to its English-speaking property desk and reliable FET issuance within ten working days.

Required Documents Checklist (Updated April 2026)

A complete FET application package for a Phuket condominium purchase now requires:

Original passport plus two clear copies of the photo page and current Thai entry stamp
Sale and Purchase Agreement (SPA) signed by buyer and developer
Inward telegraphic transfer confirmation from the sending bank (SWIFT MT103)
Beneficiary bank’s SWIFT slip showing the funds credited to the developer’s account in Thailand
Written purpose of remittance stating “to purchase a condominium unit in Thailand” — exact wording matters and must match the SPA
Buyer’s Thai bank account details (if funds are routed via the buyer’s own account before the developer)
Tax ID number from the buyer’s home country (FATCA/CRS reporting requirement, mandatory since January 2026)

The minimum threshold for FET issuance is USD 50,000 per transaction, but the cumulative remittance for a foreign quota condominium must equal or exceed the full unit price stated on the title deed. For a typical Phuket condo at THB 7 million (around USD 212,000 at the April 2026 rate), buyers must remit the full equivalent in foreign currency before the Thai bank converts it to baht.

Standard Timeline: 7 to 14 Working Days

The 2026 FET issuance flow follows a predictable timeline once the international wire arrives at the Thai bank:

Day 0 — International wire arrives at the Thai receiving bank
Day 1–3 — Bank’s compliance team reviews the purpose of remittance and supporting documents
Day 3–7 — Internal approval and FX conversion at the published rate of the day
Day 7–10 — FET Form printed and stamped (Bangkok Bank, SCB)
Day 10–14 — KBank, Krungsri, KTB issue the FET Certificate
Day 14+ — Original FET delivered to the buyer or appointed legal representative for the Land Office transfer

Buyers using a power of attorney must add 2–3 working days for notarisation of the POA at the Thai embassy in their home country.

Common Errors That Trigger Refusal

The Phuket Land Office rejected approximately 220 FET-linked transfers in Q1 2026. The five most frequent errors recorded by MORE Group’s legal team:

Purpose of remittance written incorrectly (e.g. “investment” instead of “to purchase a condominium”)
Beneficiary name on the wire transfer not matching the SPA buyer
Funds split into multiple sub-USD 50,000 transfers without consolidated FET
FX conversion executed in the buyer’s home country before remittance — Thai bank cannot issue FET for THB-denominated incoming wires
Purchase contract signed after the wire transfer date — the SPA must precede or match the remittance date

Buyers should also be aware that the Bank of Thailand’s CRS reporting now triggers automatic information exchange with over 110 partner countries, which means the FET process is also a tax-residency disclosure event.

Frequently Asked Questions

Is the FET Certificate mandatory for every foreign condo purchase in Thailand?

Yes — for any single inward remittance of USD 50,000 or more used to buy a condominium under the foreign quota, the receiving Thai bank must issue an FET Form. The Land Department will not register the transfer without it.

Can my Thai lawyer collect the FET Certificate on my behalf?

Yes, provided you have signed a notarised power of attorney in advance. MORE Group routinely arranges this through its in-house legal partners so clients do not need to visit the bank in person on transfer day.

How long does the FET Certificate remain valid for the Land Office transfer?

There is no statutory expiry, but most Land Offices in Phuket prefer the FET to be issued within six months of the transfer date. If the gap is longer, the bank can re-print the certificate on request, usually within three working days.

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