oldcpu

You could cut this up into two shorter visits. Show up and enter Thailand Visa Exempt (currently that gives one 30-days (but it could change soon, which means this post could be soon out of date)). The day after you arrive in Thailand go to the local immigration and apply for a 90-day type-O visa. You need to meet the Visa requirements (over age-50 + 800k THB seasoned in the bank for at least 2 months prior to your application (assuming you are applying for reason of 'retirement'). Nominally dependent on your immigration office location, I believe this could take up to 30 days and possibly shorter. So it makes it a bit difficult to plan precisely. The very day in which you receive the Type-O Visa, at the same immigration obtain a single (1000 THB) or multiple (3800 THB)) re-entry permit. This allows you to leave Thailand immediately without invalidating your Type-O visa. Then return to Thailand about 30 days prior to your Type-O visa expiring. As soon as you get back to Thailand (with only ~30-days left in your Type-O visa's permission to stay in Thailand) go to your local immigration office and apply for a 1 year extension on the permission to stay that comes with your Type-O visa. Again, you will need to have had the 800K THB in the bank (so simply keep the 800k THB in the bank the entire time). Dependent on your immigration office you could receive this extension very quick or it could take the entire 30 days. And once you get the extension on your permission to say, immediately apply for a re-entry permit on that permission to stay extension with your type-O visa. You are then free to leave Thailand and return anytime within a year ... just be certain to be back in Thailand one month before your 'permission to stay' in Thailand expires, so you that you have adequate time to apply for another 1-year extension on your permission to stay. So that means only 2 months total (about 30-days per trip). Maybe less. Maybe more. I see such an approach mainly for those who don't plan to live in Thailand full time, but maybe only visit Thailand for 179-days or less per year. Visiting for 179-days or less could be important for taxation related reasons (but that is something for ANOTHER thread and not this one). Possibly with the new Visa changes coming out, there will be much superior ways to go about such an approach - and this could OUT OF DATE VERY SOON. ... and again - it could be I made a mistake here - so if I did, I hope others will chime in and correct what I typed.

Once on the 90-day type-O visa (but before obtaining the 1-year extension on the type-O's permission to stay), I suspect you could get a re-entry permit, that would allow you to leave Thailand for a portion of the 90-days. Likely in that case, if you get the re-entry permit immediately after getting the Type-O visa, and if you then leave Thailand, you should return to Thailand after about 60-days (ie with 1 month or so left in your Type-O visa) and immediately upon returning apply for your 1-year permission to stay based on the Type-O visa. Hopefully, if I have that incorrect, that others on the forum will correct me - but I do not believe you are required to spend 4 months total in Thailand - you do thou, need to plan your exact time in Thailand carefully to match the dates in which you will need to do things.

Back when I was on a Type-OA visa, I had a case where I forgot to do the 90 Day report before the due date. I realized my mistake 6 days after the due date, and I showed up at the local immigration exactly one week after it was due. The volunteers who vett people coming to immigration advised me their computer system was down, and that the 90 day report could not be done on that day, and suggested I return the next day and pay the fine. However at my request, they agreed to let me talk to an IO in the immigration office (while I was at the office), and the IO filled in some paperwork without the computer, gave me part of the paperwork, and I was not fined and I was OK for another 90 days. Still, I learned my lesson and I was on time for my 90 day reports from that time forward.

It would be helpful, I think, for BoI note on their website that such a letter (stating > $50K US coverage) is acceptable, instead of the 'stock/generic unlimited health insurance coverage' form that some Health Insurance companies provide.

My point is one need NOT reduce the "Planet to the USA" as the vast majority of us are NOT from the USA and we have already paid tax on our foreign sourced income. I gave two EXCELLENT examples, that being Canada and Germany. Clearly we are NOT part of "planet USA" as coined in your post but we have paid taxes elsewhere. And as Presnock pointed out, one does not need $80K USD equivalent (for LTR-WP), but rather for obtaining the Thailand LTR-WP visa only $40K US equivalent, plus a $250K investment in Thailand (such as the ownership of a foreign freehold condo worth that much). MANY pensions do reach the $40K US$ equivalent (such as my pensions, if one adds them up and I hence I qualified for the LTR-WP, which I currently have). Again, I believe those most concerned here are those IN A MINORITY who structured their income (either by choosing the "right" employers or by other means). I DO CONSIDER choosing the right employer a method to 'structure one's income'. I also note the other group who may be concerned, are those in a minority whose country does not have a DTA with Thailand (and those without an LTR visa). Still, I note at present time, this is ALL speculation about tax with regard to LTR visa holders. As has been posted by others, BoI when asked still maintain foreign income is NOT taxed for LTR visa holders, whether or not it is brought into Thailand.

Interesting ... I had not read of that. Although rather than sit at the airport immigration to do that (after a LONG flight), I would rather do what I did, which is once I am back home in Thailand (on a visa exempt) to in the next few days head down to the local immigration office, at my leisure, and then only then apply for the Type-O visa. Typically, when I arrive at the Airport immigration, I am totally jet lagged and exhausted.

You misread my post. I noted one can not go visa exempt DIRECT to a 12 month extension. I myself went visa exempt to a Type-O to a 12 month extension.

Well - IMHO it is NOT confined to USA citizens in how this should be considered. Canada taxes both residents AND non-residents for any income derived in Canada. This means I pay Canadian tax on all Canadian sourced income, ... which means I pay Canadian tax on my Canadian Old Age Security, I pay Canadian tax on my Canadian Pension, and I pay Canadian tax on any interest earned from money in Canada. And that is covered by a DTA with Thailand so I do not pay double tax on that - regardless of whether I was still on a Type-O visa or on an LTR visa. Further, Germany has a withholding tax on my German pension (ie I pay tax to Germany on German sourced income), even thou I live in Thailand. An that also is covered by a DTA between Germany/the EU and Thailand, so again, I do not pay double tax on that. So as I noted, I believe for many of us, for our foreign sourced income, we DO PAY TAX in the source country, and further there is a DTA agreement and we will not pay double tax. Possibly only those, who have managed to structure their income such they pay tax no where, might be concerned here. And I suspect that 'lucky' group who did an excellent job of managing their income, are in the minority. ... I do fully appreciate they (this minority) need to watch this carefully and they may have some concerns.

Further to what Rob Browder noted, my understanding is IF one is in Thailand on a Tourist Visa, or Visa Exempt (but not on a Type-O nor Type-OA non-immigrant visa) one can NOT obtain a one year extension on one's permission to stay in Thailand. Nominally the Type-O / OA visas are the underlying visa when going for the one-year permission to stay in Thailand extensions (for reason of retirement or for reason of marriage to a Thai).

I am optimistic here, that the LTR visa will keep its Thai tax free status for foreign income kept out of the country and also Thailand tax free for foreign income and savings brought into the country. However if one on an LTR visa was subject to tax on all overseas income, there is a good possibility for the vast majority of us, that we have already paid tax on this overseas income, and such is covered by a Double Tax Agreement (DTA) and hence possibly the main impact could be an additional paperwork exercise (having to file a Thai tax return), but with no additional direct financial impact. Also, if I understand the 'wondering' (fear) , if one is taxed on overseas income not brought into Thailand but not taxed on money brought into Thailand (which reads to be contradictory) ... but if that is the case, then a simple solution if no DTA would be to bring the full amount of one's foreign income tax free into Thailand. Having typed all of that, again, I am optimistic that it won't come to that, and that at least for now, the LTR visa's tax protections (as noted in a Royal decree) will be respected.

I think this is mostly the case for the Type-OA non-immigrant Visa (where the Health Insurance must be from the Thai branch of a health insurance company) but not the case for the LTR visa Health insurance requirements.

I have an LTR visa. While I went the self health insurance route (to satisfy BoI), in my case I also obtain excellent subsidized Global Health Insurance from Europe (from a European organisation based in Germany) as part of my pension. Combining both my 'voluntary medical insurance' and my 'Long Care Insurance', I pay about 240-euros per/month out of my pension for insurance. Further the organization where I used to work (as part of my pension) also contributes about 200-euros per month for insurance. Currently this is via Cigna Europe. That adds up to the equivalent of about $480 US/month equivalent payment for the Insurance, where my age is 70 and my wife age 57. This global insurance coverage is unlimited and it is very very good - for it covers both myself and my wife. My insurance, while exceeding the Thai requirements, was not accepted even though unlimited. The insurance company documentation proof I provided did not meet the format/structure requested by Thailand. I did not realize that if I would get a letter from the Insurance company stating they exceeded the $50K US$ equivalent insurance coverage, that such a letter would be accepted by BoI. Hence I went the Self Health Insurance route ($100k US$ equivalent savings cash in a bank savings account). So I am currently happy with the LTR - and as an additional note, I wish that the Type-OA Visa requirements for Self Health Insurance would be as flexible as BoI is with the LTR visa Health Insurance acceptance.

Two of my good friends (both retired and 10 years older than myself) at present time always use an agent. They would agree with the "Use an Agent" items 3, 4, 5, 6, 8, and 9. I note also they are very well off, so money is not an issue for them. Its all above board for them (ie 100% legal) and they in essence give the agent limited power of attorney to handle their retirement extensions on their Type-O non-immigrant visas. I prefer not to use an agent. I am not sure why - possibly I prefer to be in control of my own details? Hence I suspect the "not use an agent" #3, and #9 applied to me (that is before I changed to the LTR visa - now its all a mute point). Also at this stage of my aging life, re-investing the 800k (to make even more money than I already have) is not important to me - as earning more money simply means more tax paperwork to file - where likely I will never spend that additional money (above and beyond my current savings - where I am not likely to spend my current savings). I think everyone is different here - and its best to go with the approach one prefers based on one's own situation.

Add to the "Not Use an Agent" 9. You are retired, you have lots of time, and would rather spend the money (saved by not spending the money on agent) on a good dinner with friends.

I note a big change in the BoI web page on the statistics for the LTR Visa for 31-May-2024. Instead of reporting "Statistics of LTR Visa Qualifications - Endorsement Applies for each Category" they are now reporting "Statistics of LTR Visa - Qualifications Approve". What does that mean precisely? I don't know. Is an error in the BoI web page? or has the baseline changed in how they are reporting LTR visa statistics? As a result, I note there is a MASSIVE monthly reduction in the numbers for LTR Visa 'total applications' in all category per the current page - presumably due to the baseline (as to how this is reported) has changed, or maybe they just made a mistake. Possibly I missed something already reported on this forum?

Further to Liquorice's excellent post, .... if one is already in Thailand, there are Bangkok based translation services that to do all the 'leg work' (needed to be done in Bangkok) in regards to in part helping to get one's Canadian marriage (to a Thai ) registered in Thailand. I married my Thai wife in Canada back in 2001. In December 2020 (during COVID days), while I remained in Phuket, I had a Bangkok based translation service do the "leg work" for me in Bangkok. From Phuket, I couriered to them (in Bangkok) the marriage documents (together with limited power of attorney to do the marriage recording paperwork - they provided the legal forms) ... and they took the marriage certificate to Canadian Embassy in Bangkok to have the marriage certificate certified, they (translation service) provided the official translation, and they (translation service) took the resultant documents to the Thailand Foreign Affairs in Bangkok to have the resulting documents legalized (?)/certified(?). They then couriered all the documents back to me in Phuket, and my wife and I went to the local Amphoe in Phuket, and had our marriage registered, and I received the Khor Ror 22 (KR.22) which was needed by Phuket immigration for a one-year extension of my permission to stay in Thailand. I note some ( most (?)) district immigration in Thailand may require the KR.22 to be updated yearly, to continue to prove one's marriage status, each time one goes for the annual renewal on one's permission to stay. I found paying the translation service to do the leg work in Bangkok, saved me having to fly to Bangkok, stay in accommodations there, and do all the leg work (embassy, translation office, foreign affairs) myself. I have never used an agent, but in this case, having the translation service do this, made it a lot easier for me (especially given this was during COVID times).

I don't believe there is such a credible statement re the Thai Government removing the LTR tax benefit. My guess is at most you simply read someone else's speculation.

I have been using the Thai line ( when accompanied by my Thai wife ) at both Bangkok and Phuket airports immigration for over 10 years.

duplicate post - deleted

Hmm ... not precisely - there can be circumstances where this is not the case. Lets take Canada for example. If a person with a PR to Canada, soon after arriving in Canada, then marries a Canadian, but that Canadian then decides to move out of Canada (with their PR spouse) and that person with the Canadian PR for the next 30 years does not return to Canada - as long as that PR stays married to the Canadian, outside of Canada, the person with the Canadian PR status does NOT lose their Canadian permanent residency. Canada has decided once one has the PR, if they marry and stay with a Canadian citizen, then they keep their Canadian PR status, regardless where they live in the world. These generalizations about PR are exactly that - generalizations , and there can be exceptions and one really needs to check each country's circumstances.

This is IMHO true - one must have their finances structured in the way BoI want - but for those with the wealth, I do not believe it says the entire picture. If one was a tech billionaire worth billions, it stands to reason that some relatively small amount of those billions could be liquidated, and then structured in a way to provide the regular income in a form that met the BoI requirements. Quite possibly there would be a tax impact for the 'relatively small' (by billionaire standards) liquidation of stock, but still possibly doable. Sadly I am neither a tech billionaire nor tech millionaire, ... but still I note in my case, my health insurance from Europe is 'unlimited' but that was not acceptable to BoI ( I did not know that getting a letter from the insurance company with a specific $ number of coverage (exceeding the BoI requirement) could be used) so instead I went the $100k US$ self health insurance route. I had the prerequisite >$100K US$ equivalent in an account in Thailand (that could be used for self health insurance), but I had plans for that money, so I did not want to use it for self health insurance to satisfy BoI. So instead I tried pointing to different accounts overseas which had the amount, but because I could trade stocks in those accounts, they each were rejected. In the end, I came to the conclusion I was being too stubborn, I then used my Thai account for the prerequisite >$100k for self health insurance, and I then restructured the overseas money I had, in order to follow though with I had originally planned to use the money in Thailand for. OK - not ideal - but doable. So if one has the money, often a little restructuring will enable one to set up their finances to meet the BoI requirements. Yes - I would agree it would be nicer if such was not necessary - but likely for those with the money, there is a way forward, and I doubt that tech billionaires would not be able to find a way to do a small amount of restructuring.

Does it not thou, still get back to the issue that a tax return for one's income, is always submitted for income from the previous year. One does not submit a tax return in the same year for the income being earned. I don't speak Thai, but the draft translation I saw for RD743 stated (for LTR_WP) : "the Revenue Code shall be exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment, or from business carried on abroad, or from a property situated abroad, and brought into Thailand." Note the translation states 'income'. Nominally, when one is reporting on a tax return, it is for assessable income ... not savings ... and it is always income from the previous year, which, since tax returns are done annually, would be the very earliest in which one could submit a tax return. It is always the previous year. So I note your point, but its not so clear to me. Also this is just speculation based on a rather, shall I say, shoddy written Bangkok Post article. My suspicion is there is no issue here for LTR visa holders noted, but one needs to make their own judgement call on this as time goes by and various information is presented.

Deleted - posted to soon in error

I read the article, and I can't help but think the author of the article is mixing up business/company taxes and personal taxes. I note that because the article stated: " Ms Kulaya said the department plans to expand the tax base by requiring platforms with an income of 1 billion baht or more to report their sources of income." ... Serious ?? 1-billion baht income per year? How many individuals is that applicable to ? The remainder of the article may or may not be true - but its a mishmash , jumping back and forth between business requirements for tax and that for individuals, and not making it clear which may be applicable to which. Very poorly written article. Very poor. Also, it makes ZERO reference to the LTR visa, so is it even applicable here?

I note the same, in excess of 24 hours and sometimes a few days (for Wise transfers from Canada to Europe). Having typed that, I have also noted that for smaller amounts of money being transferred, Wise is cheaper than the traditional bank transfers and also, despite the time noted for the transfer, in my experience Wise is also faster than the traditional bank transfers.