Buying Condo - Getting The Foreign Transfer Document (Tortor3)

[BuffaloRescue]

Hi

I understand there is a minimum of $50k (or is it $20k us?) to be transfered from overseas to get the Foreign Funds Transfer document previously called Tor Tor 3?

How then can i purchase a condo for 550,000 baht?

Also - can i simply wire the 550,000 from my Thai account to an overseas account and then back again in order to get this form

Thank you

Edited August 17, 2011 by BuffaloRescue

[PattayaParent]

Yes the amount required to obtain the FETF seems to have been increased to US$50,000.

If you transfer in less than that you will need to obtain a 'bai rap rong' from your bank which will be accepted by the Land Office as evidencing receipt of funds from overseas.

If you don't currently have funds overseas then you will have to transfer out Baht and transfer in foreign currency but first find out how much the property value will be declared as at the Land Office, the declared value is usually less than the actual purchase price so you will only need the FETF ('brr') for the dedclared value.

[BuffaloRescue]

Thanks

How to i get the bai rap rong? Just ask at the bank they will know what i am talking about?

Thanks

[PattayaParent]

Thanks

How to i get the bai rap rong? Just ask at the bank they will know what i am talking about?

Thanks

Yes (hopefully if you get no joy with the clerks ask to see the manager)

[falkan]

I smiled a little when I was asked by Supalai to transfer money in from my bank (back home) to their bank directly, can i still get a Foreign Exchange Transfer Form then?

I thought would need to transfer funds from my bank back home to my bank in Thailand and then get a Foreign Exchange Transfer Form and then transfer money to Supalai account?