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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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  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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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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