Tor Tor 3

[Upcountry]

I'm getting ready to wire a large sum from a US bank to my Thai bank account, despite the terrible current exchange rate. Most likely, I'll spend it here, but here's my question.

How do I get a "tor tor 3" to apply to this wire transfer?

If I were to make the transfer via an "out of bank" transfer from my US bank to Bangkok Bank NY, assuming it's cheaper and my bank finally allows it, I wonder how I'd get/apply a "tor tor 3" to that.

Maybe they can be had at the Thai bank and filed there?

[steveromagnino]

I'm getting ready to wire a large sum from a US bank to my Thai bank account, despite the terrible current exchange rate. Most likely, I'll spend it here, but here's my question.

How do I get a "tor tor 3" to apply to this wire transfer?

If I were to make the transfer via an "out of bank" transfer from my US bank to Bangkok Bank NY, assuming it's cheaper and my bank finally allows it, I wonder how I'd get/apply a "tor tor 3" to that.

Maybe they can be had at the Thai bank and filed there?

Try the property section, this has been addressed a few times.

There is no TT3 form anymore, it is called something else. The bank will issue it based on the information you enclose when TTing the money, I think you need to write something like 'for purchase of condominium' or something in the statement section; and the amount must be in multiples of $20k USD about.

Check in the next forum down for more details :-)

[ThaiPauly]

Steve is correct. You need to transefer the WHOLE amount in one fell swoop marked "For Condominium Purchase in Thailand"

Tor or 3's were abolished last year and you now need an FFT3 (or something like that) As Steve said scroll down a bit and all will be revealed.

[naka]

The form you need is called a Foreign Exchange Transaction Form now.

You do not need to tranfer the whole amount in one transaction

but you will not get the form for a transfer of less than $US 20,000.

1. Do the transfer from your home bank to your Thai account electronically.

2. Transfer at least $US 20,000.

3. Tell your home bank the the funds MUST arrive in Thailand in US Dollars,

that is - they must not convert the Dollars to Baht in the US.

4. Tell your home bank the transaction documents are to contain the words

" Reason for Transfer - For the purchace of a condominium in Thailand "

5. After funds are in your Thai account ask them for the document, fee of about Bt 200.

Naka.

Edited February 2, 2006 by naka

[Upcountry]

Wow, Thank you Naka.

Isn't odd that the only reason you can have is to purchase a condo? What happens if you don't actually do so?

I need to transfer maybe half that amount or so, just to keep my bank account topped off for Visa purposes, and for living expenses.

Under this scenario, the government requires me to keep 400,000 baht in the bank (about $10,000). I circumstances led to my leaving while that amount is in my account, I guess it would have to stay here?

Maybe I need to search around a bit to be sure I haven't misunderstood, but if the Foreign Exchange Transaction Form is the only way to prove money was brought in and can be taken out, then I'm much more reluctant to bring more than I actually need in.

I was planning to invest in the Thai stock market (recognizing that my profits would have to stay here), but not realizing that without the Foreign Exchange Transaction Form, my initial capital would also be stuck here.

[naka]

Wow, Thank you Naka.

Isn't odd that the only reason you can have is to purchase a condo? What happens if you don't actually do so?

If you do'nt go ahead with the condo purchase ... nobody cares !

Under this scenario, the government requires me to keep 400,000 baht in the bank (about $10,000). I circumstances led to my leaving while that amount is in my account, I guess it would have to stay here?

You do not need to KEEP 400,000 in a thai bank. You only need HAVE 400,000 in a thai bank each year to renew your visa. That means you can spend the money over the year and just top it up to over 400k at visa renewal time.

Maybe I need to search around a bit to be sure I haven't misunderstood, but if the Foreign Exchange Transaction Form is the only way to prove money was brought in and can be taken out, then I'm much more reluctant to bring more than I actually need in.

You need money to live off, do'nt you ?

Naka.

[Upcountry]

The reason I'm bringing in money now is that I have been spending my 400k!

As far as no one caring if you actually buy a condo, I hope you're right. But how many times can you do this before you risk difficulty when it's time to take it out?

I wonder if anyone has run into this. Let's say you've filled out the form 30 times over the years, and now (having not spent it ) you want to take your $600,000 (24000000 baht) to take out. Once they double check to be sure that you are not a relative or crony of some special citizen, would it be routine?

Just theorizing here. Point is, condo excuse or not, there must be un upper limit after which it becomes difficult.