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EddieScot

Really need some help (about FETs)

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Hello everyone,

 

I work in BKK and I put a down payment (using my existing savings from the UK) on an off plan condo earlier this year and now it's finished completion

 

Because I make Thai BHT, I thought I had to send money out of Thailand then back in to get the FET

 

However, the developer told me that if I transfer my Thai BHT to them then they'll get someone to issue an FET (for a cost of 2% of the condo value).

 

I called my agent about this then he offered to get the FET issued for 1.2%!

 

Is there some kind of black market for FET issuing or something?

 

How can I make sure to get the lowest price for it?

 

 

Thanks!

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35 minutes ago, EddieScot said:

Is there some kind of black market for FET issuing or something?

 

Yes, do you think the developer is offering you this service because he likes you or because he want's your business ?

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  I would not transfer the funds to a developer.

You have 2 choices

1 Transfer out of Thailand then transfer back -100% legal

2  Buy a FET  100% not legal

 

I understand that the market buying price is about 10,000  Baht. Still not legal.

The cheapest supplier of dodgy(but 100% valid) FET could well be your very own bank manager

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many money changer offer FET for about 5k

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1 hour ago, MrJ said:

many money changer offer FET for about 5k

 Is this method of obtaining a FET legal?

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Update:

 

So I went to the the remittance service in Bangkok Bank Nana and the lady insisted the only way is to transfer money out then back in.

 

An agent who I became friends with a long time ago said she took some clients to Bangkok Bank headquarters to get the FET with THB, I'll meet her tomorrow there to see what I can get. 

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11 hours ago, EddieScot said:

Update:

 

So I went to the the remittance service in Bangkok Bank Nana and the lady insisted the only way is to transfer money out then back in.

 

An agent who I became friends with a long time ago said she took some clients to Bangkok Bank headquarters to get the FET with THB, I'll meet her tomorrow there to see what I can get. 

Surely transferring it out and in again is not going to cost 1.2% of the condo price? and it would then be 100% legal? You might make a bit of money if you transfer back today and one party in the UK gets a decent majority! (obviously you might lose some to if they don't)

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