Hi Could anyone confirm if the Thor Tor 3 has now been abolished?

I talked with 2 branches of Bank of Asia (Sathorn and Sukhumvit 4) and also Standard Chartered (Sathorn) and they all tell me that I only need to fill out a money tranfer form starting 'purchase of condo' (in this case).

I'm confused as other people say that I must get a Thor Tor 3 in case I wish to take the money back out of Thailand.

Comments appreciated.

Many Thanks.

I've had a condo transferred a short while ago.

No TT3 required, but a paper called "proof of foreign remmitance".

This paper has to be stamped and signed by a bank officer, the print-out showing a transfer is not sufficient.

Although the teller might tell you so at the bank, it gets refused by the land and house department...

Also, my bank (Ayudhya) says that you now need a minimum import of of $20,000 to get a TT3 if you want one (presumably for non-imm O visa extension or condo purchase) Unfortunately they told me this only after I had made lesser imports anticipating that they would provide TT3s as they had in the past.

Now I'm even more confused.

Monty says no TT3 required.

UncleDonald says have to import $20,000 to get one.

Is there a definitive answer?

Thank you.

I#m in the process right now.

TT3 has changed name, but same same otherwise. You need form from Bank. 20000 US$ Minimum.

My question as to what to do when you buy small cheap condo for 500000 Bt left them smiling politely.....

Sunny

I#m in the process right now.

TT3 has changed name, but same same otherwise.

Do you happen to know the new name?

Apothecary

Quoted from a very helpful person. Thank you FRM-UK! :

Tor Tor 3 has been abolished since May 2004 and replaced by what the authorities now use:

Foreign Exchange Transaction Form

To get the FETF's (foreign exchange transaction form) you will need to stick to some basic principles.

1

Money has to be remitted from abroad, in a NON THAI currency, so sterling, dollars anything but not Thai baht.

2

The amount you remit in one transaction has to be for at least USD 20,000 or equivalent. If you send less, the amount does not qualify for a FETF form, so make sure you remit enough to get you over 20,000 USD equivalent. ( over 12,000 pound sterling?)

If your condo is not yet ready, and you are required to make regular payments, which are smaller than 20,000 USD send several payments at once, so to get you over the 20,000 USD amount.

Also I would only pay monies into my own Thai bank account, not the account of the developer or solicitor....only your own!! This is just for safety and security. Also keep in mind the vality period of FETF's I have no experience with this as my transaction was completed in 8 weeks.

3

When you send the money from your home country, or wherever it is coming from, the remitting bank must put on the electronic wire form some crucial information..............without this the bank or land department will refuse.

First on the wire instructions it must contain your full name. exactly as in your passport. It must also contain the purpose for the remit: "for purchase Condominium" These two items are vital. I had the bank in the UK also put on my passport number, just so to tie everything in with me only.

4

Once the money is in Thailand, go to the bank and ask them to issue you with the FETF. If you are dealing with a local branch who do not seem to know what to do, go to their head office. I did everything through the Bangkok Bank HQ on Silom Road in Bangkok. That is where I have my accounts. They knew exactly what was needed and got me sorted out in about half an hour. I had remitted 3 payments to Thailand.

I did have to pay for the FETF's about 200 baht each letter.

5

The FETF form should contain the following:

in section 1

your full name and passport number

in section 2

the name of the bank that sent the money to Thailand

in section 4

the purpose of the transaction, with the code 318069 (i assume this is a standard code for condo buying)

and this section will also specify that the reason is for: "purchase of Condominium"

in section 6

date and your signature

in section 7

a stamp and signature from the authorized financial institute (your bank)

That is it.

You will need additional bits and pieces fior the land registry department.

You will need copies of the passports of both your father and your mother. If they are no longer alive, you must give their full names, registered postal address when they were alive and the date they died.

Things have changed considerably in a year I see

You will need copies of the passports of both your father and your mother. If they are no longer alive, you must give their full names, registered postal address when they were alive and the date they died.

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Why???????

What if they don't have a passport?

Does it matter from whose bank account overseas the money is transferred from? In my case, my parents want to transfer money from their account, to my account inn Bangkok.