A field effect transistor (FET), integrated circuit (IC) chip including the FETs and a method of forming the FETs. The FETs include a thin channel with raised source/drain (RSD) regions at each end on an insulator layer, e.g., on an ultra-thin silicon on insulator (SOI) chip. Isolation trenches at each end of the FETs, i.e., at the end of the RSD regions, isolate and define FET islands. Insulating sidewalls at each RSD region sandwich the FET gate between the RSD regions. The gate dielectric may be a high K dielectric. Salicide on the RSD regions and, optionally, on the gates reduce device resistances.