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james247360

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Posts posted by james247360

  1. 2 hours ago, james247360 said:

     

    As I recall reading from somewhere, in order to get the FET from the bank; the sender and the receiver have to be the same name. I assume they try to tackle money laundering with this rule. Not sure if banks check or enforce this rule, but just to be on the safe side I would first make a transfer from your husbands account to your Singaporean account and then make the transfer to the Thai bank.

     

    It looks like I was wrong. I started to bother me and had to do some googling. According to https://www.thailandlawonline.com/article-older-archive/condo-purchase-currency-fet-form-remittance

     

    "The foreign exchange transaction form must show the foreign purchaser's name either as the sender or receiver of the money from the overseas bank."

     

    So, you should be fine.

    • Like 1
  2. 7 hours ago, rnalswls2 said:

    Alright! I will make sure of it. 

     

    One more question here. Condo will be bought by my name, however money in Singapore is in my husband account. I hope there's no problem that money is sent from my husband name, not from my name? 

     

    Agent said state it as "Condo purchase for buyer's name" then it would be alright. Just want to double confirm here :) thanks

     

    As I recall reading from somewhere, in order to get the FET from the bank; the sender and the receiver have to be the same name. I assume they try to tackle money laundering with this rule. Not sure if banks check or enforce this rule, but just to be on the safe side I would first make a transfer from your husbands account to your Singaporean account and then make the transfer to the Thai bank.

     

  3. Not sure if this belongs to banking section of the forum or here, but here goes.

     

    I'm planning on buying a second-hand condo on my next 3-4 week trip to Thailand. Prior to leaving to Thailand, I'll short-list about a dozen condos I'm interested in. I was thinking of arriving on Visa Exemption for its convenience. I've tried to read a lot about buying a condo in Thailand, but still I have a few questions.

     

     -1. Would there be any problems with the paperwork with only Visa Exemption stamp on the passport?

     -2. Do I need to have my own bank account opened in Thailand to make the FETF-transfer?

     -3. Is it easy to open an account for a condo purchase? I've read that for example Bangkok Bank requires Thai address, which cannot be Hotel or P.O. box. Do banks make exceptions on condo purchases?

     -4. Can I FETF-transfer any amount prior to purchasing just to have the money ready, and then use the left over from purchase for living, bills, etc. Or does it have to be exact amount for specific purchase?

     -5. Do the real estate agents generally do any due diligence on the owner/condo? Should I involve a local lawyer that or just do it myself?

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