Misty

Thanks, but I think this article is discussing something different. Pretty sure the 90 day Immigration report you're referencing is for visa extensions (an Immigration issue), and not for work permits (a Labour Dept issue). For example, when I held a NonB visa I did the 90 day reporting at Immigration, but not once did they ask for a copy of my work permit.

In another local media source, the DoE director general Pairoj Chotikasatien is quoted as saying work permit holders have to submit a report in person every 3-6 months to confirm they're working in accordance to the description on their work permit. Anyone know what this report is called? Hadn't heard of it before.

Anyone know anything about foreigners with Thai work permits having to submit a report every 3-6 months to confirm they are working in line with the details of their work permit? I've not heard of this before, but the Department of Employment (DoE) Director-General is being quoted in local press as saying this is required. What report is this? Can't quote that particular article here unfortunately due to forum rules.

Here's what's going on. Schwab has 3 separate legal entities, as follows: 1. Schwab One International - is set up to legally work with clients outside of the US. Offers brokerage, IRAs, Roth IRAs, Solo 401(k)s to US expats, also checking and ATM services on brokerage accounts. All of these accounts can purchase US shares and ETFs, but not US domiciled mutual funds as these cannot be sold across international borders. 2. Schwab One account - offers accounts for US residents only. Since it offers US mutual funds, Schwab One domestic accounts can't be held by people living outside the US or Schwab will face heavy penalties by its regulators. 3. Schwab Bank - only has a domestic US banking license and can't have clients located outside of the US. Schwab faces heavy penalties if it does allow non-US residents to hold a Schwab Bank account. The mutual fund regulations have been around for ages but only began to be enforced with the arrival of FATCA. Many US brokerages have had to close accounts on US expats since then. Vanguard and Fidelity are set up like #2 above, as are most other US brokers with an exception of Interactive Brokers which is set up like #1. Hope that helps some.

I wonder if this investigation is expanding now. In one of the local newspapers today there's an article saying that the DBD is going to check "400-500" foreign businesses, most of which have Thai nominee structures and may illegally use Thai proxies. Most (but not all?) are in property and tourism. If DBD isn't satisfied with the checks, the DSI will be asked to take a look.

Interesting story in today's Financial Times regarding Thiel's Founders Fund. Last March the fund sold out of nearly all of its bitcoin stake - about 2/3 of the fund at the time. Nothing was reported publicly about the sale. Then in April, Thiel spoke at a Miami cybercurrency conference, saying "we’re at the end of the fiat money regime” and suggested the bitcoin price — which was then trading at about $44,000 — could increase by a factor of 100. https://on.ft.com/3D0d1Db (gift link) Why dump, & then pump up the little investors? Good riddance indeed.

I was able to get the two doses of Shingrix in the US last year. The shots were expensive, but available to anyone making an appointment at the local drug store, in this case a Walgreen's. The pharmacist explained the shots could be between 2 to 6 months apart. Due to travel, mine ended up being about 5 months apart. The side effects were a bit heavy but I'm assured much more tolerable than shingles.

I was able to pay for my digital work permit with a credit card at the LTR One Stop Service desk.

As far as I know, how the various types of income of each LTR visa is taxed hasn't been clearly laid out, and as you say, even the definitions of the various types of income aren't clear-cut. My best suggestion would be to ask your employer to consult with a legitimate tax firm regarding this issue. One of the big 4 would be best, to get a real answer. Questions were asked about this topic in the call with the BoI LTR unit last Friday, but there were no clear answers. A request was made for a tax summary table clarifying each type of visa, by each type of income, with clear definitions of the types of income being taxed. Let's see if that transpires. We know how what's legal is often are deliberately left unclear.... right up until the moment clarity arrives (take nominee structures). The BoI LTR unit is great in many ways, but they aren't tax advisors and I think they may answer some questions optimistically, rather than factually. For example, at one point an answer was "How would they (Thai Revenue Dept) know?" Well, yes....but I can remember that used to be said about the IRS, and then FATCA arrived.

Isn't he also best friends with George Santos? ????

And if they want to work here? I've got a 5 year digital work permit now, no need for 4 Thai employees, thanks to the LTR visa. Can't do that with an elite card, or any other visa.

In Friday's BoI LTR call (it was sponsored by AMCHAM) I'm pretty sure the LTR senior rep mentioned something to the effect of "soon medical insurance will be required for tourist visas." It was something of an aside, and unfortunately no one asked for clarification in the Q&A. I don't know how realistic that is, but there does seem to be a general trend in the direction of requiring insurance..

How is "grey business" defined I wonder? It sounds like it's being used to describe clearly illegal activities - not at all operating in a "grey" area. Wouldn't these be better called either "black market" or just illegal? Or is this an attempt to somehow make it sound less bad. Am I missing something?

@TallGuyJohninBKK have to concur, but I'm guessing it's a joke? One thing was mentioned in the LTR call Friday: Translation of documents for some nationalities is slowing applications down. I was thinking maybe that explains Japanese, who are the largest, or at least one of the largest, foreign investors in Thailand and you might think would otherwise be in the top 5. Also, US citizens have something of an early advantage, language aside - due to the US system they are likely to readily have tax filings, proof of income. These will be easily understood by the BoI LTR unit, at least as compared to a financial or tax statement in Japanese.

Another update from the BoI LTR unit call Friday: Health insurance requirement: some changes have been made, including that US Tricare coverage for retired military is now accepted. Also, health policies that otherwise meet the requirement and are "guaranteed renewable," but that may renew annually at a date that is less than 10 months from the LTR application date, will also be accepted

I do wonder where the Australians are.... Penang?

Yes, how about the Japanese, and Australians

Correct, and to work you also need a NonB - this is the case even though you already have the elite card

Unfortunately I'm not sure what was meant by that comment. There wasn't more elaboration and no one asked about it in the Q&A. And I'm afraid I was too busy scribbling numbers and just wrote a note on the side about the rejection figure.

Yes that is a huge plus. BoI is professional and courtesy. Other pluses: the 5 year x 2 = 10 year work permit it comes with. Also the no need for 4 Thai employees per LTR work permit....

The latest LTR program numbers from a BoI LTR presentation yesterday: To date: *2,120 applications * 745 approved * 1,168 in process * 207 rejected (but it was noted that about half of these apparently returned for more information or translations, so not fully rejected) Top 5 nationalities applying: * USA 386 * China 247 * Russia 182 * UK 168 * Germany 121 Breakdown of LTR visas approved: * Wealthy Global Citizens 41 * Wealthy Pensioners 254 * Work from Thailand Professionals 216 * Highly Skilled Professionals 75 * Dependents 159

It's all in that pesky definition: what is "overseas income"

I think an important definition to clarify would be "income earned outside Thailand." Does the LTR visa change the definition? Does what would normally be considered "Thai source" (because the earner is working in Thailand, doesn't matter where the company is) for the purpose of the LTR-WFT visa somehow become overseas income, or foreign-sourced? I don't know, but a tax professional would. For the residency definition, from PWC "Residents are defined as persons residing in Thailand at one or more times for an aggregate period of 180 days or more in any tax (calendar) year. Short-term residence is not defined under Thai tax regulations." I really appreciate the LTR Unit, most especially their professional courtesy. However, it's also true that some of the information I've received from LTR unit staff has not been correct. Sooner or later they do correct the wrong information, however, if you have Thai income tax questions now, my suggestion would be to go to a competent Thai tax advisor for clear answers.

Congratulations, that's great news. Glad to hear the LA Consulate was quick to complete the LTR e-visa. From here it works pretty much as you state. Keep a print-out of the e-visa in your passport, as that is the LTR e-visa - unlike other LTR visas, there's no stamp you'll get. And no fancy sticker coming in the mail. Immigration will only put a small arrival stamp in your passport listing the type of visa, arrival date, and how long you can stay (essentially 5 years). LTR visa holders can use the Fast Track queue at the airport. Even in Fast Track, the IO may need to consult with colleagues or superiors about how to handle the LTR e-visa, since it's relatively new and few people have them. But so far in this thread, no one has reported trouble or much delay in going through Immigration.

Not sure if this could explain some of the discrepancies, but the e-visa website is used for all types of visas, many of which are only valid for 90 days or less after entering Thailand. The LTR visa is such a different animal maybe it just doesn't fit well into the box. My understanding is that once you have the BoI Notification Letter, you have 60 days to use it to get the actual visa - either in Thailand at the BoI location (One Stop Service) or overseas through a consulate. Once you receive the LTR e-visa, you'll see that it says the visa must be used by 10 years from the date it's issued.