JohnnyBD

This is exactly what occurred to me at CW two weeks ago. (Oz pp) Thats exactly what you should do. Transfers of 65k per month is not excessive. Also bullet proof. Wouldn't be surprised if NZ government also stops providing embassy letter as Canada did recently. IMO not worth the paper it's written on. Great you got the extension. Just curious. Is the NZ embassy actually verifying & certifying one's income as legit? Or, are they doing the same as the US embassy was doing, by issuing an affidavit based on a person's word only? Same questions for the Canada embassy who stopped providing affidavits. Thanks...

Correct. I leave the country every year, so I won't see BOI again until my 5-year renewal in 2029. No more annual renewals or 90-day reports for me. LTR visa holders in Thailand must report their current address to the Immigration Bureau annually, within 15 days before of 7 days after the anniversary date of their visa issuance, but for a new entry, the 1-year clock resets from the latest arrival date.

Agree. I was approved based on my pension income only. I submitted official pension verification letters, 1099 tax forms & tax returns. All the docs were easy to understand. Since it doesn't cost anything to apply online, BOI probably gets a lot of questionable applications. Does BOI publish the number of rejected applications?

Sorry to hear you were not approved. My LTR-WP visa was approved within 4 weeks using my pensions. I didn't have to submit anything about my net worth. Which type of LTR visa did you apply for?

Your receipt may be enough to satisfy BOI. My closing statement from the developer was a one-page doc which showed the total costs; condo cost, down payment, 1% transfer fee, document filing fee, etc. My receipt was a separate item. Just so you know, I didn't use my condo to qualify. I'm just guessing as to what they may be asking from you. Good luck...

What you read is not correct. I will have to prove I still meet the requirements when I go for my 5-year renewal. I have the 10-year LTR-WP visa. Also, I don't need to do the 1-year reporting because I leave the country each year, so the 1-year reporting clock resets each time I return. I will not see BOI again until my 5-year renewal in 2029.

They are probably asking for a copy of the closing statement which shows exactly what you paid for the condo, not only the sales contract. Just email them to confirm what document they need. They probably just want to confirm that you paid what's showing on the sales contract. I assume you are trying to qualify using the $40k annual income and $250,000 in Thai property.

No, you are not required to file a tax return with only 2,000 Baht interest income. That is way below the tax filing threshold.

No, a Thai tax return filing is not necessary for all residents. You asked about someone with 2,000 Baht bank interest, so I think you are confusing bank interest withholding taxes versus someone having to file a tax return on remitted foreign income. Those are two separate things. Anyone on a LTR-WP visa is tax exempt for any foreign income remitted to Thailand, and they are not required to file a tax return even if they lived in Thailand more than 180 days. If a LTR-WP visa holder earns income in Thailand, they may be required to file a tax return on that income if it exceeds the thresholds. I do not know the rules for money earned within Thailand.

You might be able to pop in and get a Non-O 90-day visa, and then after 60 days or so, go back to get your 12 month extension of stay. I don't believe you can go straight from 60-day visa exempt to a 12 month extension. Someone may know better than me.

I believe the rules state you are a Thai tax resident if you spend a total of 180 days or more in Thailand regardless of what type of visa you're on. LTR-WP visa holders are tax exempt as per Royal Decree.

Thanks for explaining. If I understand correctly, those on Non-O & OAs, are not tax exempt and are supposed to be filing & paying taxes in Thailand if Thai tax residents, so they won't need to file in Germany. What if those on Non-O & OAs do not file in Thailand, should they be filing in Germany as per the German tax rules?

It sounds like from what you wrote, if German citizens are tax residents of another country where they are exempt from paying income taxes, Germany may require those citizens to file tax returns in Germany. Is that what you mean?

I love it. Yes, many are more savvy than one may think. I have a friend from Belgium who just spent over 90 million Baht on 3 luxury condos, 2 in Bangkok and 1 in Pattaya. We live in an upscale area of Bangkok where many condo units sell for 30 to 100 million plus. Many of them are purchased by foreigners. I recently bought 2 condos for my wife in a really good area of Bangkok, but they are not in that price range. I'm not that rich.

I like all the benefits of a LTR-WP visa, like no annual renewals, no 90-day reports, airport fast track lines, 5-year renewal, and especially the income tax exemption which saved me lots of money this year alone. The cost of my LTR was less than my annual renewals because I needed the MRE permit also. Now, I can keep my annual renewal money in my home country earning a good interest rate instead of in a Thai bank earning very little. I've never seen anyone come up with so many excuses as to why a certain visa is not right for them. One can simply say the LTR visa is not the best visa for them and move on. It doesn't take 80 posts to say that. If one can't meet the requirements or easily qualify for a LTR visa, then there's many other visas available to them. There's no reason to quarrel with those who were able to get LTR visas. Life is too short. It's better to just accept things as they are, and move on. Best of luck to all!

I agree with your comments. It's better not to share one's (my) net worth with anyone, not even close friends. There's no good that can come from it. Only bad things can come from it, like hurt feelings, envy, jealousy and anger. That appears to be what's going on with one person who can't seem to handle the truth. Your last point is very true about one's safety, I have lived in Bangkok in an upscale area for the past 8 years. I really enjoy the big city life. It's no more dangerous than Pattaya or Phuket if you stay in the good areas. I like the beaches too, Hua HIn, Phuket, Krabi, etc., but I can visit them whenever I want to. To each his own. I started using the ignore users feature, it works really well, I don't see any direct posts or replies from anyone on that list anymore. It cuts down on the negativity.

Yes, me too. Some people can't handle the truth.

Hi Pablo, I notice you said text message exchange above. Did you contact them by phone, text or email? Was it the BOI LTR Visa Unit? Did you get a reply by text message or email? Just wondering if you have something in writing. It doesn't affect me because my money will be in one bank account, but it may be helpful for others to know who and how to best contact them.

Sorry. Will do next time.

ltr[at]boi.go.th

I'm not saying which one is right. I received my email this week from. BOI. You could email them yourself just make sure. Please post back after you get approval. Thank you. I sent email address. Waiting for them to approve posting

You can go back to the previous page and read my post showing the actual letter from BOI. It was specific, the same bank.

I don't understand why someone with less think they have a right to criticize someone with more about where they should be living or how they should manage their finances. I'm so glad I found the ignored user's button, it helps cut down on some of the negativity. I had a friend here a few years ago who was a very negative person. He was always complaining, and telling others how they should be living their lives. I finally realized his negativity was affecting my happiness, so I had to let him go. I feel sad for my ex-friend. He just wasn't a happy person. I don't want someone else's negativity in my life. Best of luck to you!

Sorry to hear the German banks only pay 1 to 2% interest. I hope the rates get better for you. During the Covid years when the US told most people to stay home and everything came to a standstill, the Federal Reserve lowered interest rates to almost zero in a bid to spur the economy. Then, came the high inflation years, and the Fed started raising interest rates to combat inflation. I was fortunate to be able to lock in a sizable amount of cash in some 5-year CDs paying 5.05%. Now, the Fed is lowering rates. A 1-mth CD is paying 4.20%, money market rates dropped from 5% to 3.8%, and my high-yield savings at Capital One is paying 3.5%, down from 3.9%. Rates look like they will be going lower, because the Fed is getting trememdous pressure from Trump to lower rates further. Regardless of what rates do, I will always keep at least 5% of my portfolio in cash instruments. That's not going to change. Wealthy people who keep a good portion of their assets in liquid risk-free accts are not idiots. I understand some feel they need to earn as much as they can on their assets, but others (like me) have plenty enough already where they do not need to risk all of their assets for a few dollars more.

If that is their exact wording, then we have conflicting statements from BOI. I received my email reply from BOI just a few days ago in reference to changing from insurance to self-insurance, and it clearly states in the same bank, Just to be safe, I will keep my money in the same bank account if I decide to go the self-insurance route. It would be very painful if one showed up for their 5-year renewal with money in several bank accounts and then be told that is not acceptable. Best of luck to you!