Misty

2 hours ago, edwinchester said:

If only his grandmother was Chinese, there wouldn't be any so called controversy then.

11 hours ago, TravelerEastWest said:

Thank you Misty - yes three dots but nothing happens... I will email them - I didn't know that calling was an option...

Yes, I found phone calls to the LTR unit to be invaluable, also in-person visits when all else failed.  If you call, be prepared for long wait times, so have something to do or read while you wait. You'll probably first get the BOI switchboard and get put on hold.  Ask for the LTR unit, and you'll probably get put on hold again.  But once you get someone at the LTR unit, they'll be able to look up your case by the "DOC number" which if it's a digital work permit that you applied for this year, starts out "LTRDWP2401..."   Hope it goes well and you get your appointment!

16 hours ago, TravelerEastWest said:

I have my LTR Pension visa now I am applying for the digital work permit.

 

I have uploaded all the requested documents and have a "Qualification Approved" status and am on screen 1.

 

How do I now get an appointment?

 

Thank you!

 

 

 

 

 

 

 

Is there a red bell in the upper left side of your screen you can click on? Or otherwise, try clicking on the 3 vertical dots next to the "View" button in the screenshot above.  If neither of those pull up the calendar to schedule a visit, my best suggestion is just call the LTR unit and ask.

14 hours ago, JimGant said:

 

The FinCEN 114 FBAR form takes about five minutes to fill out, even with single and joint accounts, using last year's refillable PDF form. Not sure why some get so worked up over this requirement. Granted, it's a stupid requirement -- FBARS's $10000 threshold should be acclimated with FATCA's $50000 threshold -- and apparently there are efforts to do that. Meanwhile, I'll leave my 800k in its bank account, and bring more over -- as it's becoming clearer that my money in the States, slated by POD for my worthless niece and nephew, would be better served left to my wife's Thai nieces and nephews, who have become very helpful. Opportunity cost of having my money in a Thai bank account? One day's movement in my stocks corrects for that.

 

Nope. A lot easier in the long term by getting my money over here soonest, to be left to Thai relatives -- than retaining a lawyer in the States for final settlement -- since I can't POD my Thai relatives.

 

 

It's really good to hear that there are efforts to increase the FBAR threshold figure to be closer to FATCA's.  I didn't know that. In fact FATCA's Form 8938 threshold for expats (US taxpayers living outside the US) is even higher than the $50,000 domestic threshold as per below.  It would be very helpful if FBAR threshold could go to the expat Form 8938 threshold, and then be inflation adjusted:

• Unmarried taxpayer threshold - more than $200k on last day of tax year or more than $300k at any time during the tax year.
• Married Filing Jointly--more than $400k on the last day of the tax year or more than $600k at any time during the tax year.

https://www.irs.gov/instructions/i8938#en_US_2020_publink55389wd0e825

The Phuket IO thought there was a fake boarding pass? I understand that the OP did not have a fake boarding pass but am curious: why would someone fake a boarding pass. Is this a thing?

2 hours ago, danaham said:

I am not sure - I was thinking the Thai Embassy in San Francisco.  Do you have a different suggestion?

Those in the US would apply for a NonB e-visa from one of 4 Thai consulates in the US.  If you're on the west coast, the NonB e-visa would be from the Los Angeles consulate.

Start here:  https://www.thaievisa.go.th/

I'm not sure there is a Thai Embassy in SFC, or at least not one that issues NonB visas.

5 hours ago, CartagenaWarlock said:

https://www.investopedia.com/ask/answers/06/nonusresidenttax.asp

Dividends are taxed at 30%. Capital gains are not. Let's assume a Thai person buys a home in the USA and then sells it at a profit after a few years. It is called capital gains.

If a Thai or other nonresident foreigner buys real estate in the USA and then sells it at a.profit, the gain is taxable in the USA. Gains on investment portfolios would not be taxable, however, as these types of gains are considered sourced at the location of the taxpayer.

6 hours ago, ME100 said:

Hello,  I am an 81 years young  U.S. citizen looking to retire permanently in Thailand.  I want to apply for a retirement visa in-country.

 

I know I meet the income qualifications, but am I required to have a private Health Insurance policy also when I enter the country and apply for my visa?  I ask this question because as a U.S. military veteran the Veterans Administration took care of my health insurance, which of course does not apply in Thailand. 

 

Also, are there other visa requirements for this type of Visa?  I'm asking because I get mixed answers from several sources on this subject, so anyone who recently went through this process would be ideal for answering my questions, etc.

 

This is my first time on this site, so I will list my email address for any replies:  Any advice greatly appreciated!  

All the Best, and Thank You for consideration! JD

 

 

Do you have US military Tricare health care benefits?  Tricare benefits may not qualify for the purposes of getting a Thai visa (although they really should), however if you check into it you may find you actually do receive Tricare benefits overseas https://tricare.mil/FAQs/General/GEN_Eligibility_Moving_Overseas

19 hours ago, SHA 2 BKK said:

Good luck Misty.   Dips me lid to you.  Tackling all the Thai Bureaucracy.   But sounds like the BOI were helping as much as possible. 
 

Hope all the LTR’s had a great Christmas and happy and healthy 2024.  

Yes, the LTR unit has been extremely helpful throughout. Especially since a lot of the process was outside their direct control, especially coordination between Min of Foreign Affairs in Thailand and the NY Consulate. But it's done - the LTR HSP visa was issued yesterday.  Paid Bt50k cash at counter.  In this case the visa  takes up 3 passport pages (one page handwritten note about the transfer, the visa itself, and then various stamps about entry/ stay permitted until, etc).  So that's the only downside - the LTR e-visa used no passport pages, it was just a separate piece of paper.

On 12/25/2023 at 10:27 AM, Pib said:

Misty,

  Thanks....and Wow!!!!...quite an obstacle course you successfully ran....all because of having the 1st LTR issued via the evisa process. And if you had had your 1st LTR visa issued in Thailand vs via evisa there wouldn't had been any "switch LTR visa type" obstacle course to run--or at least an easier and shorter one.  Happy Holidays.

 

Happy holidays Pib! The process isn't over yet, but at least there's light at the end of the tunnel.

9 hours ago, K2938 said:

If your question is if there is an ATM BEFORE you go through immigration, then the answer is no.  However, the chances of you actually being checked for this are very low.  Moreover, if you have any written document confirming that you will be getting an LTR HSP visa, then you should not have any problems anyway.  But if you want to make extra sure, you can also have the THB 20k in any foreign currency equivalent.  It does not need to be THB.

The onward travel ticket is more important because this is frequently checked by the airlines.

Thanks for this. In that case, I have enough foreign currency cash.  For the airlines my passport still has the old LTR visa details (it'll be changed at the LTR unit in Bangkok) but will get the onward ticket just in case. 

On 12/16/2023 at 11:53 AM, suzannegoh said:

Why is he no longed asked to speak there?

You'd have to ask AMCHAM Tax Committee

Hi all, is there an ATM machine in the Suvarnabhumi international arrival hall available for withdrawing funds for arriving visa exempt?

I’m going through the process to transfer my existing LTR e-visa to an LTR HSP visa. The LTR unit says to arrive visa exempt.  I don't think I've ever arrived visa exempt before, or if so it was 30 years ago. To get through Immigration with minimal hassle, my plan is to have both an onward ticket and Bt20,000 cash, just in case.  I also have the official approval documentation and the LTR unit’s phone number and a point of contact.

15 hours ago, oldcpu said:

 

I would recommend calling BoI for clarification on this.

 

After all, the USD 100K is for self health insurance.  It stands to reason it may dip below USD $100K at times, as one uses it to pay medical bills, and then one tops it up later.

 

If I had to guess, BoI, in 5 year times AFTER one obtains the LTR visa, BoI may ask to see proof of USD $100K for only the last 2 years, before one renews the 'permission to stay' for the second 5 year period.

 

Having to keep $100K USD equivalent in cash continually for 5 years is not an issue for me (for self health insurance), but I can clearly see it could be for some - hence its worth asking BoI. 

 

Hypothetically, lets say BoI wanted it the money proven the bank continually for 5 years ... and then lets say one takes the 500k out of the bank as soon as one gets the LTR visa. So lets say then in 5 years, BoI would deny the "automatic" for another 5-year permission to stay (as the money was not there for 5 years). 

 

But what happens at that point in time, if one pays another 50k THB and applies again for an LTR and shows $100k USD in the bank for the last two prior years?  Are BoI going to turn down a new LTR application when one meets the new application requirement for an LTR-WP (as requirement, I think, is $100k equivalent only for two preceding years)?  

 

Based on that, my guess, is when 5years rolls around, one only show $100K USD in the bank (for self health insurance) for the 2 years prior to the 5-year permission to stay renewal.  ... or saying it different:    from the LTR approval point in time,  to the 3 after approval point in time, one might not have to maintain the $100K USD in the bank for self health insurance.  That is a guess thou. Emphasis on 'guess'.

 

Again - if one is worried about that, its best IMHO to call BoI and hear what they plan.

 

I agree with contacting the BOI LTR unit on this point.  Would suggest emailing them so you have a written response.  I've found talking to the staff to be very helpful, but sometimes they suffer from wishful thinking.  Anything said on the phone could change 5 years from now.  An emailed response would be a bit more durable.

1 hour ago, Danderman123 said:

What is the tax status of cash from an ATM in Thailand obtained via my US bank card? 

According to the AMCHAM Tax Committee online seminar today, the Thai Revenue Department has yet clarified if foreign credit card or ATM withdrawals would be considered a remittance and therefore taxable.  It was noted that other countries would consider use of a foreign credit card or ATM withdrawal as a remittance, so it's possible the RD would do so as well.

20 hours ago, DodgerRodger said:

 

There's some information buried way down on the LTR website under application process - vis issuance, and it (partly) clarifies the point raised:-

 

Visa period and staying permission

According to the annoucement of the Ministry of Interior Affairs, the applicant who passed the qualifications endorsement for LTR visa (and has had the visa issued in the period within 60 days from the date of qualifications endorsement letter issuance) will receive the 10-year visa stamp from the Immigration/Thai Embassy on the date of your LTR Visa issuance. However, the immigrantion will grant the permission to stay in Thailand with unlimited accesses to the Royal Thai Kingdom (multiple re-entry) for no more than 5 years. This means that you will get a 5-year visa stamp first. And, before the expiration of your first staying permission, your qualifications and criteria will be verified again (you will be required to submit documents and proof via the system). If your qualifications and criteria do not meet the requirement e.g. for Wealthy Global Citizens catagory, if the value of your investment in Thailand is less than USD 500,000 because you sold your property, or have canceled your health insurance and did not have a proof of the health insurance for the past years* etc., in such cases, the LTR visa shall be revoked.

* Remarks:

* You are required to report to LTR Visa unit if your purpose of staying in Thailand is different to the purpose you applied for the LTR visa i.e. For LTR : W and LTR- H as staying in Thailand with an incorrect type of visa might be against the law.

This seems important. Does the LTR unit also expect to see proof of USD100k in a bank account for 5 years for proof of the health insurance requirement?   It would be difficult to "forget" and accidentally sell a USD500k gov't bond, but funds in a bank account would be different.  Especially if someone actually needed to use these funds for health care expenses at some point.

On 12/8/2023 at 7:51 AM, orchis said:

How old are you now?

A day older than yesterday.

51 minutes ago, oldcpu said:

For the size of my portfolio, I would 100% agree re: USD $500K worth of Thai government bonds is not desirable.  And unlike myself, not everyone is into buying a condo in Thailand (where one can easily find incredibly nice condos for that price in Phuket - with fabulous views).  I FULLY understand that buying a condo is not something one may desire to do - ESPECIALLY if it is only being done to get a certain Visa.

A good point - it is situational dependent.  For some folks this amount of Thai gov't bonds may not be an issue and a better option than buying a condo.

7 hours ago, Captain Monday said:

So, one bank in Thailand will sell a bond

They put you thru weeks of hardship 

Then not even provide a certificate 

 

“Why I don’t apply for LTR” 

In my case having to lock into USD $500k worth of govt bonds. 

 KBANK's bond desk (specialized department inside KBANK) has also sold LTR visa holders gov't bonds.  

1 hour ago, Guderian said:

It might have been asked and answered here already, but there's too many pages to search through. Does anyone know if other SEA countries, like Cambodia and the Philippines, are doing the same thing as Thailand?

Malaysia  https://insightplus.bakermckenzie.com/bm/tax/malaysia-updates-regarding-taxation-of-foreign-sourced-income

12 hours ago, K2938 said:

Moreover, if you are paying yourself a fictitious salary via a UAE company while permanently living in Thailand, then this fictitious salary will most likely be considered to be Thai income anyway, regardless of where it is paid.  People got away with this in the past due to lack of reporting.  But these times are probably over.  So this is unlikely to work for many reasons.

Agreed.  And if you establish it was a "real" salary for work you are doing - if you were physically in Thailand doing the work, then it is Thai source income, not foreign source income. In that case, all of your salary is taxable in Thailand - whether or not you ever remit it.

1 hour ago, SportRider said:

Here's an idea...

 

The UAE has a DTA with Thailand.  If you are economically active you could use a UAE company to pay yourself income.  Taxed - at 0% in UAE.

Then legit bring funds to Thailand as tax-paid.

 

 

 

I hope you are right. It isn't clear how this will work in practice.  For example, if you bring the income to Thailand and then need to file a Thai tax return to claim the foreign (UAE) tax credit against any Thai tax due, you might find you only get a foreign tax credit of 0%.  So you'd still owe Thai tax.

This is how it already works for US taxes, just in reverse.  There's a US-Thai DTA.  US taxpayers are taxed globally, so have to file US tax returns no matter where they are tax resident. US citizens who are Thai tax residents can claim a foreign tax credit against any US tax due.  If they pay 0% in Thai taxes on the income, they get 0% tax credit and still owe US taxes.

10 hours ago, ThailandRyan said:

If they have that kind of assets then they can apply for the LTR-WGC visa, but then the assets, a certain amount must be in Thailand.

Yes, although for LTR-WGC they'd still need to show income of at least $80k/year for two years and invest $500k in Thai government bonds, foreign direct investment, or Thai property.  https://ltr.boi.go.th/#what

If they can wait until they're over 50 years old and can show between $40-$80k in income, they could then apply for the LTR-WP and only invest $250k in Thai government bonds, foreign direct investment, or Thai property.