A friend recently informed me of two potential problems with my assumptions above:
1) the Land Office might not approve the purchase transaction for the condo if the BoT FET form is beyond a certain date;
2) moving the funds back out of the country could result in a 30% tax on the funds transferred.
In addition, I'm concerned with the "Purpose" code which was used on the FET form for each transaction, as they're all a bit different:
1) 318131 Others (please specify details): to which was written "For living expenses or investment"
2) 318131 Others (please specify details): to which was written "Living expenses"
3) 318052 Gratuity of Private Sectors: to which was written "For living expenses or investment"
I selected the code in the first two transactions above (and provided the written description), but in the last transaction above, the transacting bank chose the code and typed in my description of the purpose. Since I didn't have access to the official description for each code at the time, I naively assumed that the bank would choose the correct code to match the written description that I provided them at the time. Now that I consider the meaning of the official description for the code they used, I'm getting a bit paranoid.
Does anyone out there have any experience which might clarify the situation a bit?




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