SHA 2 BKK
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At bloody last - no stops in Singapore or Sydney - direct to BNE to see family.
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Some comments in the Publication that cannot be named today about the LTR. Government "crowing" about the scheme with over 4000 successful applicants. They want to try to attract more.
There were a few "trouble makers" who I think didn't qualify for the LTR jumping on our thread a couple of weeks ago - trying to suggest that the "new" Government would do away with the LTR as it was closely tied to the previous Government. The opposite seems true. The more the merrier I say. Biggest group (791) is from the US then Russians, UK, China, Germany and France.
Whilst Russians and Chinese are on the list I guess the LTR is even more safe 55555
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23 hours ago, JohnnyBD said:
Forgive me for trying to make sure that I won't get hit with a 7 MM baht tax bill next year after remitting monies derived in the same year as remitted. I received one of those emails from the BOI LTR Visa Unit about monies being tax exempt, but after looking at the email more closely, it didn't have an official letter attached, it wasn't signed by anyone, and it had no names on it. It was just a reply email that could have been sent by some low level clerical person with the BOI logo. At the bottom, it had a disclaimer note saying to contact the Revenue Department for further questions. So, I will try to contact the Thai Revenue Department about my questions before remitting big some monies.
Johnny can you give some feedback mate?
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42 minutes ago, JohnnyBD said:
The statement below by this tax firm appears to say that we need to wait until the following year after the monies are derived to remit them, for those remittances to be tax exempt. Does anyone know if this is correct? To make it perfectly clear, are monies derived and remitted in the same year, tax exempt or not exempt?
FRANK LEGAL & TAX
PowerPoint 演示文稿 (franklegaltax.com)
For wealthy global citizens, wealthy pensioners and work-from Thailand professionals:
✔ Income tax exemption applies to income derived in a previous tax year from work or business carried out abroad, or from assets located abroad, where such income is brought into Thailand in a fiscal year subsequent to the year in which the income is derived
There was an earlier discussion about this with the BOI LTR People saying in essence that any funds remitted after you get your LTR are exempt whilst Royal Decree 743 seems to state earned in the previous year.
I am being careful and only remitting savings from last and previous years (I have my Australian Bank Balances as at 31.12.23 to show) and my pension income which is tax free via the Australian Thai DTA (I receive a Government Service Pension).
It will be interesting next year to see how this pans out. I read the Thai RD is being flooded with fake income and tax certificates asking for refunds. How they will handle the complexities of DTAs etc will be hard to fathom.
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16 minutes ago, Misty said:
Yes, however the LTR HSP does not get the Thai tax exemption on foreign income remittances that the other LTR visas get.
Misty if I am correct the LTR HSP is brilliant for those who earn a good income in Thailand and don’t need to remit large sums from abroad, whilst the other LTRs are for we who don’t work in Thailand and rely on Foreign Sourced funds for our yearly expenses.
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2 minutes ago, OneMoreFarang said:
I successfully transferred the payment from my Kasikornbank account as usual. I did this by scanning the QR code on the statement from UOB in my K-Bank app. But obviously first I needed that statement, see above.
Thank you. I will have a look and see if I can find a statement. Much appreciated.
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36 minutes ago, James105 said:
I have a couple of questions about this as I originally thought this visa would be too complex for me to get one of the skilled professional ones, but it seems I (might) be eligible for the "wealthy pensioner" one next year when I turn 50. This should coincide nicely with my Elite visa coming to an end. I will not be able to apply for this until May next year but I want to see if I can get my ducks in a row before then.
1. It seems the income requirement includes 'royalties' (which my income is classified as) which gets transferred to me monthly via PayPal. Would PayPal statements and bank statements suffice for evidence here, as well as screen captures or something from the online publishing platform where the sales and royalties for my work is listed?
2. The "tax return" requirement is mildly concerning as I have ceased to be a UK tax resident from last year and am technically a tax resident in Thailand. In preparation for the tax rule changes I transferred 2M baht last year to my Thai bank account so was not planning on filing a tax return here this year (due to not remitting any monies here in 2024) but perhaps I may need to rethink this. I'll file a UK tax return later this year anyway but this will just be to confirm I am still not a UK tax resident so will be zero based. So at best I'll have 2 tax returns (1 for UK and 1 for Thailand) that show I pay zero tax unless I do something such as remitting money here this year to change that.
3. Do people use agents typically for this or just go straight to BOI and submit the documents etc? Is there any advantage to using an agent to get the aforementioned ducks in a row and get this over the line?
Would greatly appreciate any insight.
Hi James
I never had to lodge my Tax Returns but gave them my last two Pension Statements (I get paid fortnightly). I was however in the first "wave" of applicants so I am unsure if this has changed. I never used an agent but uploaded everything online - its quite easy to follow.
Could I suggest you email the BOI direct or even better if you live in Bangkok go to Chamchuri Square and have a chat to the staff - they are extremely helpful.
Sorry i couldn't help more but good luck with your application.
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On 5/23/2024 at 2:28 PM, OneMoreFarang said:
This is information for anybody with a Citibank credit card in Thailand.
Today I received an email from an online account which I pay regularly with my Citibank credit card. They told me my bank refused to pay.
I thought there should be more than enough credit available. I logged on to the app, and I saw that my payment was 2 days overdue.
How could I have missed that payment?
It's easy why. Because I didn't receive a bill from them. Until recently, when Citibank was still Citibank, I received every month a statement from them. And then I paid.
Now, that this is part of UOB, I didn't receive such a statement. And for that reason, I didn't know I should pay. And they didn't send me any email like it's time to pay or anything like that.
When the payment was refused, I checked their website and I found this:
Will customers be able to continue using the Electronic Statement Service (e-statement)?
If you had previously enrolled for e-Statements with Citi, you have automatically been enrolled for e-Statements with UOB for your converted current and savings accounts, credit card and cash card. Please note that for security reasons, UOB will discontinue the delivery of e-Statements (in PDF format) to your designated e-mail address. You will be able to retrieve and download your e-Statements via the UOB TMRW app.
No statements anymore, What a stupid idea!
How should we know that we should pay? Manually check the app? Really?
And after I found that information, I tried to get a statement. But how. The app has about 1000 "buttons" but nothing obvious about a statement or paying for the credit card. Annoying!
So, if you also have one of those cards, and if you want to make sure you can use the card, then I suggest better check if you have to pay and pay.
I tried to call them. After about 30min in the que I gave up. Sad.
I have one of the Citbank Credit Card accounts too. I keep it in Credit by paying more than I used in the previous month. Get the points but pay no interest.
Previously I was able to transfer from my Bangkok Bank Account to the Citibank Card. I can't seem to do this anymore.
The UOB TMR App said I needed a Deposit Account with them. Went to UOB Branch to open said account - I have an LTR Visa. Not Impossible but very difficult without a Work Permit. I just don't have the patience.
Needs letters from my Embassy or Immigration and a letter from my Thai Bank stating how much withholding tax had been paid on interest earned. I don't have or need Term Deposit account in Thailand, so earn bugger all interest.Anyway to cut a long story short I went over to the Bangkok Bank and withdrew a sizeable sum, dropped it on the UOB Counter and had it credited to my two cards (the missus uses the one). The teller staff asked repeatedly why I didn't just open a deposit account, so I pulled out the long list of requirements handed to me in my previous "chat" with the Deposit Opening Lady and said "mai pen rai".
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3 hours ago, Eddie45 said:
My understanding with the LTR Visa, you dont need to file a tax return if you stay in Thailand for more than 183 days a year in a tax year. You dont pay tax on your overseas earnings and you wont need to pay tax on the money you bring into Thailand to pay for your living expenses. Is this also the case with the Elite Visa as trying to workout best option for me. I did look on the Elite Visa website but this information was not covered.
My understanding of your information on the LTR is the same - though there is a discussion whether you are only entitled to remit previous years income into Thailand and pay no tax. No Tax Return needed (this was posted by another member some time ago).
The Thailand Elite (having had one previous) was considered a Tourist Visa. Therefore it would be my understanding that under the new RD Directive you would be liable to file and pay taxes (after deductions) on remitted monies earned post 2023.
However I’m not Lawyer or Accountant and could be wrong but that’s how I see the state of things.
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9 hours ago, sabaiguy said:
Just received my LTR this week. No suit and tie. Just think they don't want you to show up in baggies, flip flops and tank top. Trousers and decent shirt will do the trick.
Congratulations on your LTR!
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8 minutes ago, hcvc said:
I have an appointment to receive a LTR Visa for Wealthy Pensioners at One Stop Service Center (OSS).
On the BOI website under the heading Wealthy Pensioner - Application Process – Visa Issuance – Dress Code Guidelines for Appointment Date - a pictorial displays a cartoon of a man wearing a suit and tie. Individual cutouts of a cartoon suit and pants are also shown.
Above the pictorial is a message (warning) stating - * Remarks: * Please dress politely in proper formal clothes and shoes. The immigration officer reserves the right to refuse service if inappropriate clothing is observed.
I am a large framed fashionably challenged individual living on a rural farm and do not have a suit or tie. I have made several fruitless attempts to purchase a suitable suit online.
For those who already have a BOI LTR Visa for Wealthy Pensioners - were you required to wear a suit and tie – or did you happen to observe any one denied a BOI LTR Visa for a dress code violation?
Any help would be much appreciated.
I wore a pair of jeans (no holes), long sleeve shirt with collar. No tie. No jacket. Decent pair of shoes too.
No “Bag of Fruit” (Suit) needed. Good luck cobber.
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9 hours ago, JohnnyBD said:I think Sing and Sig are the same person using different user names. If you follow their posts, they seem to troll this thread trying to antagonize those who can qualify.
Agree with you. "Small Dick Syndrome" we call it back home.
They can't get an LTR so try and throw enough crud that others are scared away.
Anyway I've had my LTR for 18 months. Apart from coming and going at the airport haven't seen an Immigration Officer or the BOI for that matter since!
Let the "Small Dicks" have their whinge - small things amuse small minds.
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6 minutes ago, Sigmund said:Why do people get so upset when one does not agree with them ? A fine mystery of existence,
Le LTR has been established with good intent by the BOI. The problems cited by the many comments, could or could not arise, due to the fact that the Immigration Bureau is also involved. And we all know how quick and hassle free it it !!!🙃
Problem here is with the annual re-qualification or report with immigration whatever the word used. If no issues could arise with BOI, it could be a totally different strory with having to deal annually with immigration and having to "re-qualify". It means nothing and anything.
To make it short, best would be to ask Immigration what they exactly could ask on the re.qualification process for the LTR. Thing is that even they are not sure. It obviously would change from office to office and of course depend entirely on the mood of the day with the fine officer handling the process. Officer who is free to ask or invent any new absurd document request and if so, cancel the LTR and thus all the money spend and hassle for nothing. Willing to take that risk ?
LTR may be worth the run for full time stay or may not ? But definately and absolutely not worth for wealthy global pensionners who are the winter birds from october to march.
Unless you are a Thai or stay in the Kingdom less than 90 days at time - you will be reporting to Immigration your whereabouts at the 90 Day mark (if you are following the rules). LTR Visa holders only have to do this ONCE per year - and that’s only if they don’t leave Thailand.
That’s it. That’s the only requirement for 5 (FIVE) years. Not 90 days as with other visas.
No one here is upset. They just don’t want fools putting out false information on the LTR because it’s the perfect Visa for those who qualify and want to stay in Thailand long time.
We want to “Spread the Gospel”. The good news - not continually pull up fools spreading misinformation.
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15 minutes ago, oldcpu said:Who wants? In regards to the numbers, if you check the BoI web site, well over 7,000 applicants by the end of April. Does that answer your question as to who wants? Greater than 7000 expats want this.
As for the harassment, add up 5 years trying to get Type-O and Type-OA extensions. Where on Type-O/OA one has to go to immigration (and go to city hall yearly if going for an extension based on marriage), sometimes in both places for many hours, and sometimes going multiple times to either place due to an official at immigration coming up with a new undocumented requirement for Type-O and Type-OA. Add that up for over 5 years ??? The Type-O and OA are FAR FAR FAR more hassle than what was needed to apply for the LTR 10 year visa.
The LTR overall is MUCH LESS hassle. Do the arithmetic.
Further, the LTR application (in my case) meant I could upload my documents from my seaside condo balcony , with my laptop on a table, my feet up, and my sipping a glass of wine. I dare say if with a Type-O or Type-OA visa extension application in mind, if I showed up at immigration with a bottle of wine, my laptop, and put my feet up, I would be escorted out of there prompto. Again, an LTR visa is much less hassle.
Of course with a type-O/OA visa, I could pay for an agent, and then instead of a Type-O/OA costing 7,000 THB more (57,000 vs 50,000 for LTR), it could cost 50,000 to 75,000 THB more for a Type-O/OA over 10 years via an agent (vs the cost for an LTR visa). Do the arithmetic.
Nope, LTR is far superior for those of us who meet the very specific BoI financial requirements.
No. No. No. You are wrong. Every year you need an immigration check. Not a financial check. You had this pointed out before. You need to stop spouting false statements.
You are confused with the Type-O and Type-OA visa.
An LTR visa has REDUCED the amount of paperwork compared to annual extensions for other visas (such as Type-O/OA) over a 5 year period. An LTR visa is cheaper than Type-O and Type-OA. An LTR visa gives me less concerns about taxation issues. Now I speak from experience.
Given the clear mistake in your post about "requalify" every year, why do you keep posting that statement that is clearly wrong? What is your agenda here to post clearly WRONG information?
I think half the posts on this LTR Forum have been deliberately WRONG.
As many have said NO yearly reporting of address unless you stay in the Kingdom for that year! No repeated requests for “invented” documents, health or financial information - nada!
I think simply it’s the ones who don’t qualify for the LTR and want to take out their frustrations on we who are able to obtain this great Visa.
I was on an Elite before the LTR and the LTR xxxx all over the Elite from a great height.
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Seems the LTR haters are out in force over the last few days. Heat must be driving them to extremes!
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10 hours ago, JohnnyBD said:What if a LTR WP visa holder remitted 2025 income in 2025, would that be exempt also? Just trying to clarify the previous years income rule. I wouldn't want to make a big mistake. Thanks again for your reply.
My understanding is that income remitted in the same year it was earned would have to be declared and be taxable. Basically the old rules that everyone who stayed in the Kingdom for 180 days or longer were supposed to follow but very few did.
LTR Visa holders have basically been “Grandfathered” the old rules.
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21 minutes ago, JohnnyBD said:
Thanks for posting. Just to clarify, I assume "previous years income" means if I get a LTR WP in 2025, then 2024's income is exempt, and 2025, and future years too. Is that correct? Also, I don't see anything about company pensions, stock dividends, bank interest or capital gains from abroad in the decree. Maybe it's spelled out in more detail in Sec 40 of the Revenue Code. I will try to research Sec 40. If you get time, can you please elaborate on those different income streams, whether they are exempt also. Thanks for your reply.
1. Yes it is my understanding that if you get your LTR WP in 2025 and remit 2024 income it is free of Thai Tax. 2025 income would be tax free in 2026. But as with all tax comments here you may need to seek independent advice. I am neither a tax planner/lawyer et al - but given the way the Decree is written and advice I (and others) have had from the BOI, if you got an LTR Visa next year, any income from this and previous years remitted to Thailand is tax free.
2. Following is the whole of Section 40 in from the Thai RD. It mentions income from Pensions, Stocks, Bank Interest and Capital Gains (but those of a Juristic Person or Company - if it was an individual Capital Gain, I think you would easily argue you are a Juristic Person in the sense that that you held the Capital that received the gain). It seems to be a pretty broad brush and thus would exempt any income that I personally would earn if I remitted in a following year.
Hope this helps.
"Section 40 Assessable income is income of the following categories including any amount of tax paid by the payer of income or by any other person on behalf of a taxpayer.
(1) Income derived from employment, whether in the form of salary, wage, per diem, bonus, bounty, gratuity, pension, house rent allowance, monetary value of rent-free residence provided by an employer, payment of debt liability of an employee made by an employer, or any money, property or benefit derived from employment.4
4R.CT.No.29/2538
(2) Income derived from a post or from performance of work, whether in the form of fee, commission, discount, subsidy, meeting allowance, gratuity, bonus, house rent allowance, monetary value of rent-free residence provided by a payer of income, payment of debt liability of a taxpayer made by a payer of income, or any money, property or benefit derived from a post or from performance of work, whether such post or performance of work is permanent or temporary.
(3) Fee of goodwill, copyright or any other rights, annuity or annual payment of income derived from a will, any other juristic act, or court decision.
(4) Income that is:
(a) Interest on a bond, deposit, debenture, bill, loan whether with or without security, the part of interest on loan after deduction of withholding tax under the law governing petroleum income tax, or the difference between the redemption value and the selling price of a bill or a debt instrument issued by a company or juristic partnership or by any other juristic person and sold for the first time at a price below its redemption value. Such income also includes income assimilated to interest, benefit or other consideration derived from the provision of a loan or from a debt-claim of every kind whether with or without security. 5
5M.R.No.126 Clause 2 (30) R.CT.No.30/2538
(b) Dividend, share of profits or any other gain derived from a company or juristic partnership, a mutual fund or a financial institution established under a specific law in Thailand for the purpose of providing a loan in order to promote agriculture, commerce or industry; the part of dividend or share of profits after deduction of withholding tax under the law governing petroleum income tax.
For the purpose of income calculation under paragraph 1, if a lawful child who is a minor derives income and the marital status of the parents exists throughout the tax year, the income of the child shall be treated as income of the father. However, if the marital status of the parents does not exist throughout tax year, the income of the child shall be treated as income of the parent who exercises parental power, or of the father if both parents jointly exercise parental power.
The provisions of paragraph 2 shall apply mutatis mutandis to an adopted child who is a minor deriving income.
(c) bonus paid to a shareholder or partner of a company or juristic partnership;
(d) a decrease of the capital holdings in a company or juristic partnership which does not exceed the total amount of profits and reserves;
(e) an increase of capital holdings in a company or juristic partnership that is determined from the total amount of profits or reserves;
(f) a benefit derived from the amalgamation, acquisition or dissolution of a company or juristic partnership and having the monetary value which exceeds the capital;
(g) gains derived from transfer of partnership holdings or shares, debentures, bonds, or bills or debt instruments issued by a company or juristic partnership or by any other juristic person.6
6M.R.No.126 Clause 2 (30)
(5) Money or any other gain derived from:
(a) rent of property,
(b) breach of a hire-purchase contract,
(c) breach of an installment sale contract, where the seller regains the property sold without paying back the money or gains already received.
In the case of (a), if an assessment official has reason to believe that the taxpayer underreports the amount of income, he shall have the power to assess the income according to the reasonable rent of property under normal circumstances, and the amount so assessed shall be deemed assessable income of the taxpayer. In such case, the taxpayer may appeal against the assessment and shall apply the provisions on appeals under Part 2, Chapter 2, Title 2 mutatis mutandis.
In the case of (b) and (c), all the money and gains received from the date of entering into contract to the date of breaching the contract shall be deemed assessable income of the year of which the contract is breached.
(6) Income from liberal professions, namely, laws, arts of healing, engineering, architecture, accounting, fine arts or other liberal professions as prescribed by a Royal Decree;
(7) Income derived from a contract of work where the contractor has to provide essential materials besides tools;
(8) Income from business, commerce, agriculture, industry, transport or any other activity not specified in (1) - (7).
The amount of tax under paragraph 1, which is paid for by the payer of income or by any other person on behalf of taxpayer on any category of income or in whichever tax year, shall be treated as income of the same category and of the same tax year as the income where payment of tax is made."
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6 minutes ago, Middle Aged Grouch said:LTR is absolutely not worth applying considering all the bureaucratic hassle, all the absurd documents they ask day to day or invent and the fact that every year one has to show all the updated absurd documents for insurance etc asked and thus making this LTR definately not a hassle free for 10 years. In fact one pays a hefty amount just to be harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting). Your conception of annual reporting seems to widely change from when they ask for the reporting even if you show up after one calender year. Don't waste time in submitting as you will go through lots of hassle, and each time further documents will be asked on absurd grounds. Definately not worth the money and trip. In fact if you can, look at other countries in Asia for a retirement visa if you plan just to stay in winter. Forget Thailand, no more worth it with all the absurd red tape and the possiblity that they will tax your foreign pension or at best require to file all kinds of paperwork and thus one will just be speinding the entire stay running back and forth for getting all their paperwork done.
Wrong on so many counts but hey whatever floats your boat mate.
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7 hours ago, JohnnyBD said:
When you get a LTR (wealthy pensioners) visa, are all monies remitted to Thailand exempt from income taxes, such as; pensions, dividends, interest & capital gains from investments? I read somewhere that only pensions and gains from property are exempt. Thanks.
Royal Decree 743 says the following about remittances and their tax free status for LTR (WP).
“Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be
exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-
from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for
assessable income under section 40 of the Revenue Code derived in the previous tax year from
an employment, or from business carried on abroad, or from a property situated abroad, and
brought into Thailand.”So as long as its previous years income you are pretty much covered.
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Did he not have an amulet? Maybe he had one of them hokey ones from the Monk who poured acid on the kids hands to test his the other day???
Anyway a family in grief and them
that are left to pick up the pieces RIP.
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12 hours ago, Ben Zioner said:
My wife tells me that for license renewals the proof of residence isn't needed.
Oh that would be most handy! I have done the renewal “course” online and will go and get a Medical Certificate and see how I go without proof of residence. I might take my Condo purchase docs just in case. Will report back.
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5 hours ago, Ben Zioner said:
I attempting to be facetious with that TM30 thing..
In fact the on-line system works quite well, I came back from Bangkok yesterday and reported my address this morning.
Also, I used my new passport number and this din't cause any problem either.
I’m in Singapore at the moment. I am my own “landlord” so can file my TM 30 online.
1. As an LTR Visa holder when I return to Thailand my reporting “clock” will reset to one year from now entry (similar to the 90 Day “clock” for other visas.
2. I will do my TM 30 online. This time I will print and take a screenshot as I need that piece of paper from immigration at Chamchuri Square to renew my drivers licence. I have heard told me though that one doesn’t need to do another TM 30 if the residence stays the same even if travel outside Thailand but better safe than sorry.
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FYI Folks from the BOI Website on annual reporting of ones' address - also on this link how to get (renew) ones' Drivers Licence:
1-YEAR REPORTING TO THE IMMIGRATION BUREAU
AT THE ONE STOP SERVICE CENTER FOR VISA AND WORK PERMIT
LTR Visa holders staying in Thailand for a period longer than 1 year consecutively are required to report the current address to the Immigration at One Stop Service Center for Visa and Work Permit (OSS) either in person, or by authorizing someone to report for you on your behalf. This report must be done on a yearly basis counting from LTR Visa issuance date (15 days before or 7 days after the date specified on 1-year report notification card). However, in the case of re-entering the Kingdom, the report will be due in 1 year from the date of the latest arrival.
The documents required to be submitted to the immigration are as follows.
- TM.95 Form (completely filled out and signed)
- Passport *
- T.M. 6 Card (arrival/departure card) (if any) *
- 1-Year report notification card (if any) *
- TM.61 Form (For authorized person reporting at Sub-division 3 Immigration Division 1 Visa and work permit service center,Chamchuri Square Building on behalf of LTR visa holder who lives in Bangkok)
* If LTR Visa is issued at Royal Thai Embassy/ Consulate-General, LTR Visa holders will not receive a 1-year report notification card. In such case, the report will be due in 1 year from the latest arrival date specified on the arrival stamp.
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9 minutes ago, Presnock said:
I am only telling you my experience and meetings with the BOI reps. In my passport is a note indicating that I am to report where I am living once a year. If it does not apply to you, I am not concerned, just wanted you to know what I have been instructed by the BOI folks. good luck stay safe
No offence taken cobber and same with the luck and safety.
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Jetstar Resumes Brisbane-Bangkok Direct Flights After Four-Year Hiatus
in Thailand Travel Forum
Posted
Yeah. Would prefer a better service. Buts it’s not Jetstar Asia with tiny seats. They will use a 787 Dreamliner - but agree Jetstar ain’t the best. Bet hey it’s half the time if using another carrier.