Misty

Theoretically the PR should be a good program, but in practice it falls short of the mark. Many of the drawbacks Arkady mentions above make it so, as does the fact that the application process itself has become inherently corrupt in recent years. I qualified and put together a complete application only to have it refused, as we later found out because I didn't use an agent and didn't offer VIP fees. That being the case, far from being nonsense the LTR program is a welcome new option. Run by the BoI, thus far the application process is straight forward and there's been nary a whisper of VIP fees. Frankly, the BoI has been a real pleasure to deal with in comparison.

I had that happen when they wanted additional docs (photo). After I uploaded the photo, it went back to processing. Maybe check the documents section in your online account to see if there's a message requesting something.

No, not had that. Only one for the application I'd made.

Heard something similar to that, except that "processing" meant all of the documents are in order in order to get a decision in 20 working days. Items like qualified health insurance and the photo don't need to be submitted in order to get a status of "processing," however. After the decision at the 20 working days point, apparently there's another 60 days to get these items in order and then receive the letter. I too don't like submitting these types of documents online. I wonder if Thailand's new Personal Data Protection Act (PDPA) applies to government entities like the BoI? Still, after nearly 30 years of submitting great wads of paper documents to Immigration and the Labor Dept for NonB & work permits, I bet some enterprising person could have put all that in a database for sale at some point...

It may help that LTR visa holders can access "Fast Track Service at International Airports," as per LTR website https://ltr.boi.go.th/#pri

Seems to be 20 working days from initial submission. BoI sends out an email saying the date to hear from them, and it was exactly 20 working days. And some final items (photo & health insurance) can be submitted up to 60 days after that approval date, to get the final approval letter. It sounds like you've already submitted health insurance and all other documents, so maybe you'll get the letter right away. Screenshot of "Application Process" page from website: https://ltr.boi.go.th/#app

Could be and makes some sense. Hope to find out soon! 90 day NonB e-visa gave 90 days to use it, and then it was good for another 90 days after entering Thailand. But I have no idea if the two periods of time were related.

Interested to see the thaievisa.go.th site now includes the LTR visa as a choice. So Evisa is an option if your embassy or consulate can grant one (depends on your country). Timeframe could be 1) submit application, 2) in 20 working days receive BoI approval letter, 3) take up to 60 days to apply for evisa, 4) wait for consulate to grant evisa (not sure how long, but past evisas have been not more than a couple days). 5) Once evisa granted, should have a period of time (90 days?) to use it to enter Thailand. Of course don’t have to wait 60 days to apply for evisa, so could all be done in a month or so.

That would be good. Perhaps we'll see that in the future. Like your skytrain comment "It's a giant monstrosity but great way to get around." Kind of feel the same about the LTR. With all of it's initial issues, it's still so much better than the annual work permit/visa extension I've had to do for the past 15 years as a small business owner. Just having a website to check status, let alone all the other improvements, make this so much worth it. I imagine when the skytrain was under construction, people sitting in their cars along the route were thinking "what a nuisance." But to me the developer (ITD) was nothing short of heroic. The skytrain project wasn't even financed - after the baht floated, the USD financials were out the window. But ITD kept building month after month, year after year, despite not being compensated - saving Bangkok from itself. I kind of feel the same about the BoI - they didn't ask for the LTR project, it was foisted on them. But they're doing their best from what I can see. And this is oh so much better than what was, at least for small business owners like me. The LTR may be nuisance to some, and they are certainly free to go 'sit in their cars; if they chose. The BoI are heroes to me.

I know one applicant with processing and one with pending, both supposed to hear by 29 Sep. Another applicant with processing, not sure their date. It was similar with the skytrain, the project was under construction for maybe 5 years right through the main streets of Bangkok. Kind of hard to miss. Lots of interest as the initial test runs were conducted. Still when it opened, there were very few riders. Way below projections. You’d think people liked to sit in traffic jams. But I guess habits take awhile to change.

Thanks ThailandRyan. Also hope to hear back soon on our application. Regarding the numbers of applications, it's just the initial month of the program, so it's really early days. Very likely that applications will increase over time. I've talked to a number of folks who reside outside Thailand and haven't yet heard of LTR. That will change. I was a BTS skytrain passenger in Dec 1999 when it had just started operating. It was empty - I could take a seat every day to and from work during rush hour. And this was against consultants' initial passenger projections of something like 400k per day. Where were they? But look at BTS ridership now.

From the BoI's LTR website: https://ltr.boi.go.th/#

And from a 30 Aug 2022 Financial Times article (link shared with permission): https://on.ft.com/3e8SWky "Crazy rich relocations: Singapore becomes a haven for Chinese elite Beijing’s talk of ‘going after the entrepreneurs’, its draconian Covid lockdowns and a growing hostility to China from the west all make the city-state an attractive place to reside ...Now this already crazily rich city is receiving a big new dose of money — thanks to a fresh influx of tycoons from across the South China Sea. After enduring years of political crackdowns, severe Covid lockdowns, and unease about Beijing’s global reputation, many of China’s wealthiest have been packing their suits and designer dresses. And, according to wealth management professionals in Singapore, an increasing number are booking plane tickets to the city-state. Anecdotal reports indicate that well-heeled clients have been arriving in droves at Singapore’s hotels and seaside estates..."

If you're in California, you'd apply for an e-visa through the LA Consulate. No need to drive seven hours each way or visit the consulate in person.

The One Stop Service unit ThailandRyan mentions handles extensions of both visas and work permit (thus the "one stop"). If I remember correctly (its been a few years) there are units from both Immigration and Labour Dept in One Stop Service. So working with One Stop Service wouldn't be bypassing Immigration. Just working with a different section of Immigration. IMHO, a section of Immigration that isn't obstructive. For those outside of Thailand, the LTR unit said that Thai embassies or consulates will handle issuing the visa. And then the One Stop Service would handle the work permit once in country.

From the FT 29 Aug https://on.ft.com/3U2D5o4 (article link shared with permission) China’s property-driven growth model is broken Beijing should prepare for a long and difficult economic transformation "China’s property-driven growth model, which has powered the global economy for at least two decades, is looking increasingly broken. ... Local government financing vehicles — the thousands of poorly-regulated funds owned by city governments all over the country — are burdened by “hidden” debts that Goldman Sachs has estimated to total Rmb53tn ($8.2tn) — or 52 per cent of gross domestic product — at the end of 2020. .. Beijing should prepare itself for a long and difficult economic transformation that it can no longer avoid. The world should prepare itself for the end of a four-decade era of supercharged Chinese growth. ." (my bold)

I've seen the surveillance in person. And no doubt you have too. Text below from the article. No wonder all the Chinese billionaires are fleeing to Singapore. https://www.nytimes.com/2019/12/17/technology/china-surveillance.html ZHENGZHOU, China — China is ramping up its ability to spy on its nearly 1.4 billion people to new and disturbing levels, giving the world a blueprint for how to build a digital totalitarian state. Chinese authorities are knitting together old and state-of-the-art technologies — phone scanners, facial-recognition cameras, face and fingerprint databases and many others — into sweeping tools for authoritarian control, according to police and private databases examined by The New York Times. Once combined and fully operational, the tools can help police grab the identities of people as they walk down the street, find out who they are meeting with and identify who does and doesn’t belong to the Communist Party.

Please tell that to the Uighers, those under covid lock-down, women who until very recently wanted to have a second child. Or read the following article on how the Chinese government is spying on all of its citizens. Sorry, Gwiloman, you're fooling no one. Hope they aren't paying you much to post this stuff. https://www.nytimes.com/2019/12/17/technology/china-surveillance.html A Surveillance Net Blankets China’s Cities, Giving Police Vast Powers The authorities can scan your phones, track your face and find out when you leave your home. One of the world’s biggest spying networks is aimed at regular people, and nobody can stop it.

In Singapore recently. Looked like plenty of Chinese money was buying up property. Locals told us wealthy Chinese are buying Sing citizenship too.

The LTR program apparently uses One Stop Service, not Bldg 1. Back in the years when I worked for multinationals (before starting own company), One Stop Service was straight forward and shenanigan-free. A dream as compared to more recent experiences at Bldg 1.

https://ltr.boi.go.th/

Haven't seen this done at the individual level, but for what it's worth, when my Thai company receives USD revenue, the revenue is recognized at the Bank of Thailand's THB:USD exchange rate from the day before the funds were received in my company's foreign bank account. The top line revenue number doesn't change whether I leave the funds in USD for awhile or bring them into Thailand.

Worth getting an official opinion, but isn't this where the reduced 17% Thai marginal tax rate comes into play for at least two of the visa types? My understanding is if working in Thailand, the income is Thai-sourced - and therefore subject to Thai tax, regardless of the location of employer.

I know a few gals too

Not sure who is antagonizing who here. Some people are posting about their decision to apply for LTR visa/work permit, and details on the process which is helping other interested folk. Nothing wrong with that. And their posts are appreciated by others who are interested in the program. Others are questioning why they are doing so. What is odd is the antagonism from those folks. Okay, they don't get it, but what difference does it make if others find the program useful? You've lost nothing, you're not interested in LTR (but keep posting here about it anyways), your annual extension programs are still in place, no?