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Opening an account and getting a certificate

Before buying a property, you need to get a personal account in one of Thai banks. Only foreigners who have a work permit, a guarantor in the person of a Thai citizen or holders of non-touristic visa are allowed to open an account. For our clients we provide visa support and other legal assistance in opening an account in Thai banks for FREE

In order to confirm the legality of the funds to purchase a property, a bank gives you a certificate called Foreign Exchange Transaction (FET). Without such a certificate (FET) it’s IMPOSSIBLE to buy a property and register it under the ownership in Thailand.

A certificate FET from the bank
A certificate FET from the bank

For topping up your bank account you can use travel checks or transfer money from a foreign bank. You will not be able to buy FET certificate by cash. Getting to your bank account the currency is automatically converted into the local baht.

When you transfer funds from a foreign bank account to your new Thai one,  in the column "The purpose of the transaction" you have to state "Buying property in Thailand”. It will make the process of getting FET really faster. This document is required when  the amount of more than $ 20 000 arrives in the account. In such a way  if necessary you can take money out of Thailand, proving their legal origin.

IMPORTANT!
On some web-sites devoted to real estate in Thailand, you can still find Thor Thor 3 certificate being mentioned, as far it is required to take after funds arriving to the account. Please note that at the moment this form is out-of-date and is replaced by the previously mentioned common certificate FET.

 

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