If you are a foreigner who wants to buy a property in Thailand, you will most likely need to know how to get a TT3 / FET form. As a foreigner, the only category of real estate that you can buy in your own name are condominiums. If you would like more information on buying property in Thailand as foreigner, take a look at this link.
What is a TT3 (Thor Tor Saam) / FET form?
A TT3 (Thor Tor Saam), or FET (Foreign Exchange Transaction) form is an official document that you get from your Thai bank.
This document proves the funds that are being used to purchase the property come from outside of the country and that the foreign currency has been exchanged into Thai Baht. The document will state:
- How much foreign currency has been transferred
- How much Thai Baht you will be using for the purchase
- The purpose of the transferred money (in this case, for the purchase of real estate)
How do you get a TT3 (Thor Tor Saam) / FET form in Thailand?
A TT3 / FET form can be obtained by going to the bank that you transferred money from abroad into Thailand. You will want to specify that the purpose of the document is for the purchase of a condo.
Something you should be aware of when transferring money into Thailand… sometimes your foreign bank will transfer your money to a 3rd party bank before transferring the funds into your bank account.
This means that you will have to receive a TT3 / FET form from that 3rd party bank (usually Standard Chartered Bank). If this is the case, you will need to contact the 3rd party bank in order to get the document for your purchase.
What documents should you bring to the bank?
When you go to your bank to request the TT3 / FET form, you will most likely want to bring the following:
- Your original passport
- Copy of the purchase & sales agreement, signed by the buying and selling parties
- Copy of the title deed for the condo you are purchasing
Note: Not all branches will be able to issue you the document. You may be redirected to a branch that will be able to assist you. Any and all banks and/or branches may have differing requirements and often do.
Conclusion
In conclusion, if you are looking to buy a condo in foreign quota in Pattaya, Thailand, getting a TT3 / FET form can be a bit confusing if you are not prepared.
The key thing to note will be exactly which bank was the first to receive your funds when they were transferred into Thailand.
We hope that this may have helped you in buying your own property in Thailand.