Desut

9 hours ago, asiaexpat said:

IRA withdrawals are income and no longer part of the IRA so this type of income is acceptable but the funds held in the IRA are not.

I followed up with the BOI and specifically asked whether monthly distributions from a 401k would count as qualifying passive income for the LTR-WP visa.

Their response was:

"Yes, if your income appears on your tax return (Form 1040) as passive income that you receive regularly, we can accept this as qualifying income for the LTR Visa application."

That sounds promising, but as far as I know, the 1040 doesn’t actually label anything as “passive income.” 401k distributions are usually reported under the Pensions and Annuities section, so it may come down to whether the income looks consistent and recurring.

21 minutes ago, oldcpu said:

 

I have no experience in applyinf for LTR outside of Thailand, so I can comment on that approach.

 

But my recommendation would be to do something different than what you noted.

 

If you come on a 90-day Type-O Visa, and then try to get the LTR, you will possibly be nervous as the clock counts down on your 90-days, and you may not have received the LTR visa yet when the 'clock runs down' (ie 90-days expire). 

 

So why risk any stress over that?

 

Instead, one possibility (assuming you are age-50 or older)  that is different is :

 

1st obtain the 90-day type-O.  Enter Thailand.

 

2nd.  Immediately open a Bank Account.  Place 800k-THB in the bank, and

 

3rd.  apply for a 1-year extension (based on retirement) on your 90-day type-O, to stay in Thailand.

 

Then 4th, AS SOON as you get your 1-year extension, apply for the LTR.  This way you have almost 1 year to get the LTR and have massive time margin if for some reason BoI end up delaying your LTR due to their own internal constraints.

 

My LTR-WP took just under 6-months to get.  Fortunately I applied within a couple of weeks after getting a one-year extension on my type-O, so I was not stressed in the slightest about time in regards to my LTR-WP taking MUCH longer than normal. 

 

Just something to consider.

.

Thanks for sharing your experience — that’s actually a really helpful suggestion.

I hadn’t considered the timing risk of the 90-day Type-O running out while waiting on the LTR approval, but that’s a great point.

Appreciate the insight. 

5 hours ago, eastbaybob said:

I’m not saying your agent is wrong but I got my visa approved using IRA withdrawals along with my pension.  I pick my visa up next week.

Thanks for sharing that—really helpful to hear firsthand experience. It’s interesting how much variation there seems to be in what’s accepted, depending on the agent, reviewer, or maybe even timing.  Your case gives me some hope that there might be more flexibility than they let on. Congrats on your approval—and good luck picking up the visa next week!

On 4/28/2025 at 8:22 PM, Yumthai said:

That's very interesting. So, a one-time stock sale in the past year amounting at least 80K USD will qualify? That opens the LTR-WP visa to the growth investors broader crowd.

On 4/29/2025 at 9:57 AM, oldcpu said:

 

I find that puzzling and i wonder if the agent is incorrect.

 

My understanding is income from a Canadian Registered Retirement Income Fund (RRIF) does qualify as part of the $80k US$ equivalent income, and I had always understood a Canadian RRIF is partly equivalent to a US 401k in concept.  In the case of a Canadian RRIF, one is REQUIRED to withdraw a minimum amount of money every year from age-71 onward.  Hence that RRIF income IS assured income, Canadian tax is paid on that RRIF income and it is reported as income on a Canadian tax return.

 

If I understand correctly - your agent is saying US 401k holders are not treated the same?

 

You may wish to consider checking on that.

This info was from Siam Legal International in Bangkok. I haven't followed up, so I'm not sure how accurate it is. The realized gains part also surprised me.

I just plan on going the Non-O route until I can qualify for the LTR.  

Thanks everyone for your input. I did reach out to the BOI as well as an agent in Bangkok, and it looks like the LTR-WP visa may be out of reach for me initially.

According to their responses, they require proof of past passive income — such as tax returns (Form 1040) — and showing only future earnings will not be sufficient.

Even if there’s a guarantee that I will receive income going forward, the BOI will not accept it without documented history.

To qualify under the Wealthy Pensioner category, I would need to show at least USD 80,000 in passive income received over the past 12 months before I could apply.

The BOI suggested I wait until my next tax return is filed, as they primarily base eligibility on tax documents like the 1040.

The agent in Bangkok also clarified that 401(k) and IRA withdrawals are not considered passive income. Only pensions, dividends, interest, and realized gains(such as selling stocks) qualify.

However, I did not receive a clear answer yet regarding whether 401(k) savings (over $100,000 USD) could be used as an alternative to a health insurance plan under the LTR-WP category.

Thanks again for everyone’s advice — it’s been very helpful!

Hello all,

I will be retiring in the next few months and am trying to decide on the best visa strategy for moving to Thailand.

My initial plan is to get a Non-Immigrant O (90-day) visa before arriving in Thailand, then once there, I would apply for the LTR-WP visa.

Would it be better or easier to apply for the LTR-WP visa before arriving in Thailand?

I will be able to meet the income requirement through my pension and passive income streams.

However, I will only just begin receiving my pension in the coming months and will not yet have a full year of income history to show. I also won’t have any 1040s or 1099s yet to show passive income for the previous year.

I’ll only be able to show the income moving forward, as I’ll be moving some funds around to generate it.

Also, I’m seeing conflicting information about using a 401(k) savings account to meet the one-year $100k USD asset requirement instead of showing a health insurance plan.

Has anyone successfully used a 401(k) to meet this requirement?

Thanks for any advice!

On 5/12/2024 at 12:24 PM, Sheryl said:

Unfortunately, depending on what these  conditions are, you may  be uninsurable.

 

Expat insurers are not required to cover people wirh pre existing conditions and for the most part, they don't.  If you can provide detsils of these confitions I can advise better. 

 

Yoh might need to maintain your US policy and then get a travel policy on top of that which includes "acute exacerbations of pre-existing conditions". That presumes you'll be spending some time in US each year and would be prepared to return to US for non urgent care.

 

Obviously this has cost implications for your retirement planning.  So too may the new changes to Thai tax law. If you will be receiving a private pension any remittances of same to Thailand are taxable in Thailand if you  are here 180 days a year or more (though under double taxation treaty can get credit for taxes paid in US). Government pension though is taxable only in US  Ditto SS when you become eligible. 

 

 

 

We have certainly considered the scenario you suggested—maintaining my US policy after retirement and getting a travel policy for our time in Thailand. Since we do plan on traveling back and forth, but not sure how often those trips would be.

I further inquired about the retiree health plan offered by my employer, and the $1100/month quote I initially received was for a family plan. If I opt just for myself, it would be significantly less, around $400/month. My wife, who is younger and in perfect health, could get a separate policy, which might be a viable solution. She is also a Thai citizen and entitled to free universal health coverage. I also learned that I could opt out of my employer retiree plan but can reinstate it at a later time if I can prove that I maintained coverage with a comparable plan.

So, we have several options to consider. As we get closer to next year, I will begin getting detailed quotes from providers. Thank you for your help and suggestions; I appreciate it.

On 5/12/2024 at 4:39 PM, Presnock said:

Yeah on all that has been mentioned.  I would not get health insurance for myself locally as any conflict will be decided in the favor against ex-pats as that situation is currently getting even stronger.  I was lucky in that I worked for the US govt so I kept my health insurance which is govt sponsored too so they pick up a larger chunk but my family coverage is over 800 a month and once I fade away, I hope it is at least 5 years away, and if so, then believe my wife who is Thai will drop that even if it could be continued at a higher cost (she will understand about that anyway) as she will continue to receive a portion of my retirement which will enable her to lead a comfortable life with a local insurer. I really have no knowledge of US health insurers other than this one which I have had since 1996.  Fortunately, I and my family members are healthy and healthy foods are abundant here at least in the major cities.  Houses are cheaper than cars here.  If one lives in Bangkok then a car is not even necessary at all with the train service.  I originally retired in Bangkok but grew tired of the traffic so moved to Chiang Mai 11 years ago and then when our daughter began college in Bangkok we moved back here while keeping the house we bought in CM.  We sold our car as we thought we would go to the US for daughter's college but had visa problems for my wife and although daughter had been accepted with scholarships in the US, she opted to just stay here at the #1 college in Thailand - she is doing a degree in Korean and World Culture so the degree will be great anywhere.  If you are retiring next year then you and the rest of us will know all about the new tax law interpretation about all remittances into Thailand are to be taxed - there are exemptions but nothing is really totally clear yet.  How familiar are you with life in Thailand?

Thanks for your insights and experiences. I've been to Thailand about six or seven times since I met my wife 13 years ago. We just returned from a one-month trip in April. I love everything about Thailand—the people, the culture, the food, the easygoing way of life, and the acceptance of everyone, especially compared to where we live in NYC. We really love the southwest coast and plan to make our home somewhere around there—Hua Hin, Pran Buri, or Khao Kalok.

We are aware of the new tax laws, which is why I’d prefer to get the LTR visa, especially for the tax exemptions. However, I understand that these laws could change overnight.

On 5/11/2024 at 8:42 AM, Sheryl said:

So in answer to your question as to which is more beneficial it depends on which foreign country you are comparing to. 

 

Thanks for the information, Sheryl. It's very informative. I'm comparing this against the health insurance provided by my employer in the US. Ideally, I'd like to find similar coverage so that, if or when I get sick in retirement, I don’t have to worry about whether or not the insurance will cover me. Perhaps that's hoping for too much. 

15 hours ago, Presnock said:

Based on the numerous articles and comments I have read about health insurance in Thailand, if one is healthy and has no previous history of any disease/health problems and doesn't plan to have to continue that insurance at a reasonable rate once the individual gets old (like retirees) then I would feel more comfortable with an international (US) insurance company so that I know that they would be totally responsible for what is in the benefits package and no ifs ands or buts, they pay. 

Thank you, Presnock. I'll be 58 when I plan to retire early next year, and unfortunately, I'm not in the best of health due to some pre-existing conditions that I anticipate will impact me as I age. I'm hoping to find a suitable health plan that won’t cause me too much stress in my later years. I've budgeted up to $800/month if needed for a plan that provides comprehensive coverage with minimal worries. This is much more affordable than the retiree plan (limited to US coverage) my employer offers at $1,100/month, which I find absurd.

On 5/11/2024 at 8:20 AM, Etaoin Shrdlu said:

 

It is true that the OIC here is quite consumer-friendly and it is easy to schedule a meeting to discuss a grievance. The downside is that insurers here may offer less broad coverage and have a poorer claims-paying attitude.

Thanks, Etaoin. It's good to know that the OIC in Thailand can be quite consumer friendly when it comes to grievances. I found this interesting OIC update issued just a few months ago:

https://www.tilleke.com/wp-content/uploads/2024/01/Tilleke-Thomson-Reuters-Country-Update-Thailand-Insurance-January-2024.pdf

4 hours ago, Presnock said:

Consider the various visas available as some require health insurance especially international companies and coverage.  As a retiree, you might want to check out the Long term visa from the Thai board of investment- depends on pension, financial and health insurance for people like me.  I had a retirement O until this LTR came about and saw that it fit my situation perfectly.  

Thanks Presnock, yes, my aim is certainly the LTR visa if I am able to meet the 80k/year income threshold. We won't know our final numbers until early next year, but it will be very close. 

3 hours ago, CanadaSam said:

 

I was told the exact opposite by many brokers, with facts to back it up, that the local insurance companies are regulated by an "ombudsman" who is always on the side of the customer, but the international companies are not.

Thank you CanadaSam. That's interesting. So, if I now understand it correctly, local companies are governed by an ombudsman, whereas international companies fall under legal regulations of their home country? Which arrangement would be more beneficial for an expatriate living in Thailand is a question that pops into my mind.

Thanks Sheryl, yes, I was put off as well by the Bermuda incorporation.

I will focus with either April France or Cigna Global. 

My US employer does currently offer a robust retiree health plan thru Cigna Healthcare but unfortunately, they only cover domestically in the states, no options for international coverage, and it comes with a steep premium.

Thanks for the replies

Thanks to all the great advice in this forum I connected with a broker from AOC.

I am looking to retire to Thailand next year and I connected with this broker to get an idea of my options and prices for a health insurance plan. 

The broker provided quotes from Now Health International, April International and Cigna Global Health. He highly recommended the plans from Now Health International & Best Doctors Insurance.

He mentioned that Now Heath International & Best Doctors Insurance is a global insurer around the world with operation everywhere (United Kingdom, Dubai, South America, Belgium, Scotland, China, Indonesia , Singapore, Hong-Kong, Malta etc.) and reinsure by RGA in United States. He also recommended to avoid the local and regional players because they may be cheaper, but they offer no rights to the consumer and no long-term commitment.

I was wondering if anyone here has any experience with Now Health International? I did a search of these forums but have come up empty. 

https://www.aoc-insurancebroker.com/themes/wiredelta/aocinsurancebroker/files/2020-01/Now_Health-Best_Doctors_Insurance_Corporate_Brochure_2020.pdf

Thanks!

Thank you to everyone, these are some great answers and opinions that I was looking for. Very appreciated!

Hello everyone,

I know this question would be more suitable for an international tax professional but I figure to ask here first.

I am dual citizenship Thai and US and currently reside in the US and file taxes in the US. If I purchase an investment property in Thailand and rent it out continuously to a Thai business, and earn a monthly income, would I be liable for income taxes in the US? I think the answer would be yes since the US wants a piece of any kind of income you earn. 

I have a Thai bank account and all the transactions (purchase, rent payments, etc) would be in Thailand, but the initial money for the property purchase would be transferred from the US into my Thai bank account, so I don't think there would be any way to 'hide' this investment from the US IRS, not that I would try that anyhow.

Just seeking opinions from anyone who has done something similar. Thanks!

Thank you to everyone for the replies.

It seems to be the gate agent checking our documents and how overzealous he/she might be, both here in the US and also thru transit in Singapore. I am flying Singapore Airlines and registered my US passport with my ticket.

A friend of mine recently had some trouble transiting thru Japan. She is also dual citizenship and did not get a tourist visa. She was stopped during the document check in Japan. Her US passport was registered to her ticket, and they almost would not let her transit board her next flight even though she showed her Thai passport as well. The agents made a call to the Thai embassy in Bangkok and after whatever was discussed, they let her board. These gate agents are being very strict. 

Traveling with such uncertainty almost makes me want to just postpone my trip. Hopefully all will go well! 

Hello,

I live in the US and have dual citizenship Thai/USA. I plan on returning to Thailand in March for around 40 days. I will exit the USA on my US passport and enter Thailand on my Thai passport.

Due to the stringent requirements and overly scrutinized document checks at airline check-in in the US, I am hearing horror stories of people being denied boarding in the US with return tickets greater than 30 days but no Tourist Visa.

Is it recommended I should obtain a Tourist Visa to avoid any problems at check-in? Or would just showing both my Thai and USA passports at check-in avoid any problems about not having a Tourist Visa for a stay longer than 30 days? 

Thanks for any experience or guidance.