This article explains how a foreign owner who has sold a condominium in Thailand can remit the sale proceeds abroad: what the rules say, which documents banks ask for, and where the process most often stalls. It is part of Zagdim’s Thailand property series and is written for owners who live outside Thailand. The full selling process is covered in the main article, Foreigners Selling Property in Thailand: Buyers, Process, Taxes and Fees, and Fund Remittance.
Why Is Remitting Sale Proceeds the Step That Gets Stuck?
Sale proceeds arrive in Thai baht. Converting them into foreign currency and sending them abroad requires a foreign exchange review by the bank. The bank looks at more than this one sale: it also looks at how the purchase money entered Thailand in the first place. If the foreign exchange record from the purchase cannot be found, is in the wrong name, or the original payment was made in cash or through a third party, the remittance can involve many extra steps.
The Short Answer: Can the Money Be Remitted?
Yes. The summary of foreign exchange rules published by Thailand’s Board of Investment (BOI) states that repatriation of investment funds can be arranged freely once supporting documents are submitted to an authorized bank. The Bank of Thailand website, as checked for this article, shows no dedicated checklist and no published cap for remitting property sale proceeds. The documents actually required therefore depend on what the handling bank asks for.
The record banks care about most is the Foreign Exchange Transaction form (FET) from the original purchase. When you want to remit after a sale, the bank checks that the money matches the funds originally brought in, plus any appreciation.
What Is the FET, and Why Do You Need to Find It Now?
The Foreign Exchange Transaction form (FET, formerly known as Tor Tor 3) is a record issued by a Thai bank. It proves that foreign currency came in from abroad and was converted into Thai baht. The form records the remitter, the recipient, the foreign currency amount, the exchange rate, the baht amount received, and the purpose of the transfer.
When the condo was bought, the FET served two purposes:
- Registering the purchase: When a foreigner acquires a condominium with money brought in as foreign currency, the Land Office looks at this proof at transfer.
- Remitting later: After a sale, the bank uses it to establish the source of funds that can be sent out.
For each inward transfer of USD 50,000 or more (or the equivalent in another currency), the bank issues an FET. Below that threshold the bank does not issue one automatically. Instead, keep the credit advice for every transfer and ask the bank for a confirmation letter listing each inward transfer, the foreign currency amount, the baht received, and the purpose. This threshold is bank practice, not a legal provision.
Keep the original FET together with the title deed and the purchase contract.
Which Documents Will the Bank Ask For?
No written checklist from any bank was obtained in the research for this article, so this point remains to be confirmed. Industry sources say banks typically ask for:
- The original FET from the inward transfer, or the credit advice plus a bank confirmation letter;
- The sale and purchase documents;
- The Land Office tax receipt.
The same sources note that when the documents are complete, remittance up to the proven inward amount can proceed under the central bank’s foreign exchange practice. Without an FET, large remittances are restricted and the procedure is complicated, at the bank’s discretion. Whether remittance is limited to the amount originally brought in, and how appreciation is treated, is not explained in any official material found, and remains to be confirmed.
The most direct approach is to ask the bank that issued the FET. It holds the records of the original inward transfer and can tell you its own written document requirements.
Resident or Non-Resident Account: Which One Receives the Money?
The general principles summarized by a law firm are:
- Resident account: For transfers abroad from this type of account, every baht needs documents showing a lawful debt, the source of funds, and the purpose.
- Non-resident account: This works similarly to an offshore account and has fewer restrictions on transfers out, but the person depositing money into it must prove the payment obligation.
- In principle, a foreigner without proof of Thai residence can open only a non-resident account, although some Thai banks make exceptions.
The official summary of Thai foreign exchange controls also states that a non-resident baht account (NRBA) may receive deposits or make payments for purposes such as real estate investment. The law firm’s summary comes from a 2011 article, and current practice at each bank depends on that bank.
What applies to you depends on which type of account was used and how the purchase money was transferred in. If you are unsure which category you fall into, confirm it with the bank before the sale completes.
Where Do Remittances Most Often Get Blocked?
- The FET cannot be found: Ask the original bank for its record of the inward transfer. The procedure and time needed to replace a lost FET could not be established from reliable sources, and remain to be confirmed with the bank.
- A third party sent the purchase money: When a company or relative paid on your behalf, the FET is issued in that person’s name, and its stated purpose is often generic and does not match a property purchase.
- The purpose field is vague: Entries such as “investment,” “personal expenses,” or “gift,” or a blank field, show no link to the purchase.
- There is no FET at all: Industry sources say large remittances are restricted and the procedure is complicated, at the bank’s discretion.
In each of these cases you need to go back to the bank with supplementary documents, and the bank decides. The earlier you check with the bank, the better your chance of completing the paperwork before the transfer of title.
What to Check Next
The tax receipt needed for remittance is issued on the day of transfer. For how the taxes are calculated, see Taxes When Selling Property in Thailand: Transfer Fee, Specific Business Tax or Stamp Duty, and Withholding Income Tax. For the documents to prepare before selling, see Documents Checklist Before Selling Property in Thailand: Title Deed, No-Arrears Certificate, Foreign Quota Certificate, and House Registration Book.
FAQ: Remitting Thai Property Sale Proceeds
Is there a cap on how much sale money can be remitted out of Thailand?
No published cap appeared in the Bank of Thailand material consulted. Repatriation of investment funds can be arranged by submitting supporting documents, and the amount and documents actually accepted are decided by the handling bank’s review.
What if my original transfer was under USD 50,000 and I have no FET?
Keep the credit advice for every inward transfer and ask the receiving bank for a confirmation letter listing each transfer, the foreign currency amount, the baht received, and the purpose. This letter serves the same purpose as an FET.
Which bank should I ask before remitting the sale money?
Start with the bank that issued the FET, since it holds the records of the original inward transfer. A written document checklist from each bank was not obtained for this article and remains to be confirmed; follow the handling bank’s requirements.
Glossary
- Foreign Exchange Transaction form (FET, formerly Tor Tor 3): A bank record proving that foreign currency came in from abroad and was converted into Thai baht.
- Credit advice: The bank’s notice of each incoming transfer.
- Non-resident Baht Account (NRBA): A baht account opened by a non-resident at an authorized bank in Thailand.
- Authorized bank: A Thai bank permitted to handle foreign exchange business.
About the Information
This article is a Zagdim research summary. The statutory points were checked against the legal texts (Verified by Zagdim), and market practice is labeled separately. Information was checked on October 8, 2026. The remittance rule follows the BOI’s official foreign exchange summary; the Bank of Thailand website, as checked, has no dedicated page on remitting property sale proceeds. The following are findings of “nothing found” or items still to be confirmed: no dedicated central bank checklist or cap, banks’ written document lists, whether remittance is limited to the amount originally brought in, and the replacement procedure for a lost FET. The FET threshold and purpose, the documents banks ask for, and the difference between resident and non-resident accounts are practice statements from law firms or industry sources; the resident vs non-resident summary comes from a 2011 article.
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Sources
- Thailand Board of Investment: Other Legal Issue (foreign exchange control summary)
- ThaiLawOnline: FET Form Thailand
- Tilleke & Gibbins: Banking in Thailand: Resident or Non-resident Account?
- The Thaiger: Foreigner’s guide to selling property in Thailand
Disclaimer
This article is a general information summary and is not individual legal or financial advice. Information was checked on October 8, 2026. Foreign exchange rules and bank requirements may change; rely on the current announcements of the Thai authorities and the written requirements of the handling bank.
