EddieScot Posted December 10, 2019 Share Posted December 10, 2019 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! Link to comment Share on other sites More sharing options...
Langsuan Man Posted December 10, 2019 Share Posted December 10, 2019 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 ? Link to comment Share on other sites More sharing options...
Delight Posted December 10, 2019 Share Posted December 10, 2019 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 Link to comment Share on other sites More sharing options...
MrJ Posted December 10, 2019 Share Posted December 10, 2019 many money changer offer FET for about 5k Link to comment Share on other sites More sharing options...
Delight Posted December 10, 2019 Share Posted December 10, 2019 1 hour ago, MrJ said: many money changer offer FET for about 5k Is this method of obtaining a FET legal? Link to comment Share on other sites More sharing options...
EddieScot Posted December 11, 2019 Author Share Posted December 11, 2019 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. Link to comment Share on other sites More sharing options...
smutcakes Posted December 12, 2019 Share Posted December 12, 2019 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) Link to comment Share on other sites More sharing options...
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