Thor Tor 3

[JimmyGreaves]

Can anyone tell me the minimum amount needed to transfer in foreign currency (In my case UK pounds) for a thai bank to issue a Thor Tor 3. I believe this is needed to allow you to get the same amount back without incurring tax.

I have read figures $5,000, $10,000 and $20,000 dollars.

Is there a baht figure?

Are all banks the same? I'm with SCB.

Cheers!

Edited January 29, 2006 by jflundy

[Thaipwriter]

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?)

this form is only valid for 6 months so leave your cash in Uk earning interest untill the last minute.

with the baht as strong as it is now.....this is no bad thing.

to see the rate you will get, go to :

https://www.scbbusiness.com/exchange/bk-txtexchange.htm

and look at the "bank buying T/T" figure against sterling.

Next Question!!!!

[JimmyGreaves]

Ok Next Question Thaipwriter and thanks.

You say 'this form is only valid for 6 months'.

I am going to buy some land with the money I transfer; are you saying if I transfer the money in 2006 and sell my land in 2009 then I go to the bank in 2009 for a Foreign Exchange Transaction Form. Not sure what the 6 months validity means for getting the $20,000 back to the UK.

Also you have a link to rates. Are there any other administration costs when the $20,000 hits SCB bank?

Cheers Again.

[JimmyGreaves]

Anyone explain the 6 months validity?

[ThaiPauly]

It seems a crazy system , if this is correct. the Condo I am buying will not be ready for 15 months, so where does that fit into the equation?

[JimmyGreaves]

Ok I'm guessing here about the 6 months validity, but does it mean that you have to go back to the bank, pay another 200 baht or so and get an updated FETF form based on the money transferred maybe years ago?