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Expats working in Thailand and paid into a Thai bank account are not exempt from the country’s FET form requirement. That means you’ll need to move your money out of the Kingdom and then back into it as a foreign currency. This is certainly one of the more annoying quirks about being employed in Thailand. Look, I don’t get it either, but that’s the law.

“If you are an expat in Thailand and want to use the money you have in your account here to purchase property…well…I’m sorry but you are out of luck. You will have to transfer the funds out of Thailand and then back into Thailand, so you get the FET form,” Khun Sirichot Chaiyachot, Co-Founder and Partner at LAFS Legal, points out.

Why does Thailand do this? Mostly, it was an unintended consequence of the Thailand Condominium Act which permitted foreign ownership and the government has never bothered to remedy this.

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