Help With Money Transfer Into Thailand

[RR3636]

I bought a condo in Bangkok in 2009. Money used for this was transfered in from Norway via bank, and declared on an form "Foreign Exchange Transaction Form (tor tor 3)". Stating in the form that the money was going to be used for condo purchase. I don't remember if the money came into my account before it was transfered to the one I bought it from (I think so).

Anyway, end of this year I'm gone sell this condo and buy a bigger one. I bought the one in 2009 for about 1m bath, and new one later this year will be about 2m bath.

I know that in the land department (?) they asked to see bank book AND the form "Foreign Exchange Transaction Form (tor tor 3)".

Question now:

1) Will I need to transfer money I get from the condo I sell out of the country, and then back into Thailand? i.e. 1m out of thailand, and then 2m into thailand in one form.

2) or can I just transfer the reminder money into thailand later? i.e. I will then I have one form which I used for the original condo, and use it again + another form for the reminder money (total about 2m bath).

3) transfer into thailand 1m bath now, and sell the condo (and 1m out/in from this) - bringing it to 2m needed - but on 2 forms.

Preferable is option #3 as I can use that bank statement for visa purpose meanwhile.

Anyone can help me with what is correct?

[Delight]

Thai banks fight tooth and nail with Farang when there is a suggestion that ‘Thai’ money will repatriated back to Farang land

This puts you in a strong position to negotiate.

You get what you want (option 2 or 3)whilst keeping them happy.

Suspect they can write exactly what they want on the FET.

The Law states:

An alien or a juristic person as prescribed under Section 19(5) shall produce evidence of having imported foreign currency into the Kingdom or evidence of withdrawal from a deposit account of Thai Baht of a person having residence abroad or evidence of withdrawal from a deposit account of foreign currency in the amount of not less than the price of the unit to be purchased.

Possibly others with first hand experience can add further

[bigwilly]

Hello RR3636.

Your original FCTF used to buy your first condo will have been used at that time, should be on file at the Land Office and can not be used again, you may have a copy of that FCTF. You will need another FCTF to buy your new condo, to the value of your contract price or the District Land office valuation, whichever is the highest .

BW