Pib

Nope...credit cards not accepted as a substitute for cash in the bank for self insuring. During the first six months or so of the LTR program (until early 2023) BOI was accepting brokerage/retirement type accts based on stock value as an acceptable method to self insure but apparently they stopped accepting that method to self insure.

Yea...bad month for ICE and EV. I figure the buying spree from late 2023, cut-throat pricing causing people to be gun-shy right now, and increasing debt levels have sidelined a lot of potential buyers. And of those three factors I just mentioned I think the increasing debt level is having the "least" impact because debt level has been high for a long time and it just don't seem to stop many people from buying a new vehicle when they really shouldn't due to debt level. I figure around mid year sales will pickup a lot but I also think "total" vehicle sales for 2024 (ICEV and EV) in comparison to 2023 will be flat. I think EV will gain a "little" more market share and I say "little" because cut-throat pricing in ICEV will mostly balance-out with the cut throat pricing of EV at bay which will keep EV sales growth at bay for a year or so. All this cut-throat pricing in EV and ICEV will make a MAJOR change in new and used vehicles pricing for years to come....it's good something has finally breaking the back of high pricing of "new and used" vehicles in Thailand. Now if some world event like another oil price shock comes about then that will cause EV sales to surge...it has been around two years (back in early 2022) since the last oil price surge...and the beginning of another one may be underway. Time will tell said my wishy-washy crystal ball.

Per DLT data, RY1 Passenger Cars (7 people or less) registrations for Mar 2023 and Mar 2024 All RY1 (EV, ICE, Hybrid.etc) EV Only Mar 2023 66,061 6,204 (9.4% of All RY1) Mar 2024 45,315 4,720 (10.4% of All RY1)

Per DLT data, RY1 Passenger Cars (7 people or less) registrations for Mar 2023 and Mar 2024 All RY1 (EV, ICE, Hybrid.etc) EV Only Mar 2023 66,061 6,204 (9.4% of All RY1) Mar 2024 45,315 4,720 (10.4% of All RY1)

Not many Audi e-trons getting sold in Thailand. DLT registration data shows 2 in Feb and 4 in Mar. Feb 2024 March 2024

Yes...you can just drop by to ask questions. I guess you want to "show and confirm" your bank account statements will be acceptable to prove self-insure coverage. You will first have to interface with the LTR Customer Info reps right after entering BOI LTR venue (these reps are typically contractors vs govt employees)....explain to them you need to confirm the bank statement provide adequate proof and would like to get that confirmation from a BOI rep that actually reviews LTR applications. Hopefully, the BOI Customer Info rep will ask a more senior BOI govt employee to come talk to you on the subject and give you an answer....that's the way it has worked for me a couple times. Of course there is always the chance the day you just show-up/pop-in there is not something preventing the availability of a BOI rep to talk to you (like some meeting they are in, etc). It's my understanding from questions to BOI on this subject as long as the bank acct is a savings/checking or even a CD acct, PROVIDES A MONTHLY STATEMENT, AND THE FUNDS ARE IMMEIDIATELY ACCESSABLE TO PAY MEDICAL BILLS then the acct satisfies the self-insure requirement. BOI needs to ensure the type of acct allows immediate access to the funds and is not some acct like a stock market acct that could quickly go from having a $100K or more balance to a low balance due to stock market crashes...or the funds are locked in the bank acct for a set period I.e., 6, 12 months, etc) which does not allow quick accessing of the funds.

There is an interesting article in the 2 April 2024 Bangkok Post talking EV sales/loans along with total EV & ICEV sales/loans for 2023 and 2024. Google the following and you should find it easily: "Loans for electric vehicles poised to expand" The article has stats and projections (guesses) from three different Thai banks/subsidiaries : Krungsri, TTB, and Kasikorn. No doubt some of the projections are like real estate projections where realtors always say/project it's good time to buy real estate.... and of course companies such as banks always put a positive spin on their business goals/projections. Anyway, some interesting info like: - Krungsri wants to expand its current EV loan portfolio from 49% of total car loans in 2023 to 50% in 2024 - Krungsri plans to maintain NPLs for new car loans at a satisfactory level. - TTB hopes to expand its EV loan market share from 13-15% in 2023 to 20% in 2024 - TTB plans to maintain NPLs of new car loans to 1% in 2024 - Krungsri foresees intensified competition in both EV and ICEV - Krungsri forecasts an overall 3% decline in total vehicles but an increase of 63% for EV sales. (IMO Krungsri is wrong in it's EV sales projection growth for 2024...63% seems way too high to me....but hey, my crystal ball sucks seeing the future) Anyway, take a look at the article. And keep in mind the article is talking EV "and" ICEV sales/loans although the articles focuses more in EVs.

Here you go: 28 registered for March compared to 26 in February.

Perfect example of cost cutting making people gun-shy of buying right now. However, the price cuts during the ongoing motor show are definitely BIG and will result in short term high sales for certain models. But I figure right after the motor show many potential buyers will go to the sidelines waiting for more price cuts which will probably continue to come for EV "and" ICEV. Me thinks the price-cutting is not over for 2024...lot of throats being cut right now as the price war continues.

A snapshot from the Dept of Land Transport (DLT) showing BYD "registrations" for March 2024. Registration means the vehicle sale has completed the entire process and blue book issued. The 1132 number is the total number of individual model registrations...total of the column to the left. For the various Seal models, the EXD RWD model (a.k.a., Premium model) was the most registered Seal model followed by the Performance AWD model and Dynamic RWD model, respectively.

Reservations at the ongoing Motor Show seem tame. Please note some vehicle manufacturers at the show are not reporting their reservations daily amounts but instead will report a total amount on the last day (7 Apr) of the motor show. https://autolifethailand.tv/half-motor-show-2024-booking/ Car reservations for the first half of the 7 days of Motor Show 2024 total 19,157 cars. Top 5 : Toyota / Honda / MG / Isuzu / ChangAn Total reservations for the first half of the first 7 days at MOTOR SHOW 2024: 25 March – 31 March 2024 (first 7 days) total 19,157 vehicles. ** AUDI, BENTLEY, BYD, MASERATI, PORSCHE, ROLLS-ROYCE do not report total amount. Total amount will be reported on the last day.

I see the Dept of Land Transport (DLT) has posted March 2024 vehicle "registrations." Registration means the sale has completed the process and vehicle blue book issued. For the RY1 Passenger Cars (7 or less people) the total registrations in Mar 2024 for EV "and" ICEV was 45,315. For Feb 2024 (which was a very weak month) the total RY1 EV "and" ICEV registrations was 47,063. So, the sales slump for EV/ICEV is continuing....actually got a little worst from Feb I expect folks are burnt-out from their end of 2023 vehicle buying spree and also gun-shy of buying right now due to ongoing cut-throat pricing. RY1 for Feb 2024 RY1 for Mar 2024 https://web.dlt.go.th/statistics/.

Yeap...assuming BOI accepts/understands what the note says versus wanting to see some "annual" document. I plan to play it safe and just get a new Tricare letter every year. Easy enough to get by logging onto milConnect via DSLogon to download the letter "or" just calling the DEERS folks who then email you the letter within a few hours.

Yet that answer goes against the note on their website and also against the STM8 form a person signs just before the LTR visa is issued...partial cut and paste from the STM8 form directly below. Also goes against another area of the BOI website (partial quota at bottom). And wouldn't it be scary if the LTR rep answer/response had a brain fart typo with that typo being the "not" in their answer....that is, the "not" was not suppose to be there. Partial Quote/snapshot from BOI website...doesn't specifically talk the $100K health insurance self-insure but its clear they want you to have health insurance coverage in the form of a policy "or enough money to pay medical bills." https://ltr.boi.go.th/page/visa-issuance-info.html

Plan for the worst...."monthly" statements since almost all banks provide monthly statements. I expect most everyone logs onto their bank/financial account(s) at least once a month...just be sure to download and save that monthly statement. Plus, most banks/financial companies show at least several years worth of past statements in case of not logging on frequently. And if going the insurance policy method just be sure to save an annual copy. If going the Tricare coverage method be sure to get an annual Tricare coverage eligibility letter as that letter reflects the effective coverage going back up to 6 years which confirms you have continuous coverage going back at least 6 years.

No annual renewals, unlimited multi exit/reentry, no 90 day address reporting, tax exemption, work permit if wanted even on a LTR Pensioner visa, etc. If you have the pension/income then why not apply for a LTR....and the LTR Bt50K fee works out to Bt5K/year over the 10 year visa. A 1 year Non-O with multi-entry permit would cost Bt1.9K+Bt3.8K=Bt5.7K/year. Other than being able to apply for a work permit for some 1 year visas, got any of above mentioned LTR benefits with a 1 year visa? Yes, yes, for many a 1 year renewal of a Non-O goes smoothly but for many it don't which keeps the AseanNow forums constantly abuzz....and the "every year" worry/concern of the renewal...what will possibly change for the upcoming renewal that arrives all too soon year after year.

I just noticed below red text note on the LTR website basically pointing out a person needs to meet LTR visa requirements "during the entire length of the visa"....pretty much just like a person say on a Non Immigrant OA visa needs to maintain the income and health insurance requirements throughout the entire 1 year period of the OA visa. Maybe that note has been there for a many months because after getting my LTR visa I don't check the BOI website that often. Now, to me this requirement "goes without saying" but there has been a good amount of talk regarding what BOI will request document-wise during the mid-term/5 year renewal point such as to if they they only request 1 or 2 years of documents like during the "initial" LTR Visa application or will they request 5 years worth for some requirements such as income/health insurance to ensure a person maintained visa requirements throughout the length of the visa permitted to stay period. As said, to me it goes without saying based on how immigration currently checks annual extension of stays for non-O/OA type visas where they need proof you maintained income/insurance requirement during the entire previous extension period. So it's probably best that a person maintain a copy of annual income and health insurance coverage for historical purposes just in case BOI/Immigration requires such proof during the mid-term/5 year renewal process. A mid-term process that no one really knows how it will be handled since it will be mid 2027 before the very first mid term renewal process occurs since the it wasn't until Sep 2022 when LTR visas first began being issued. https://ltr.boi.go.th/#type

That's just a laundry list of different visas possibly available to a person without any "details" as to the pros/cons/challenges/costs/etc., in obtaining and maintaining a visa.

They are interested in income, whether taxable or not. BOI knows some income is "non-reportable/non taxable" on a tax return...and it varies from country to country. So, if your tax return does not show all your income because that income is non-reportable/non-taxable by law then be sure to point that out in a memo....BUT be sure you can provide an official document that shows that non-reportable/non-taxable income as BOI will need to see that. What is actually best is where you provide official documents identifying your total income like pension certificates, bank/financial records, etc., and then your tax return if you have to file annually. Now the tax return many not reflect all you income and you explain why it does not in a memo. In cases like this a tax return is a secondary document to the official documents identifying your income.

According to below info weblink you declare/report the income on US 1040 Sechedule E along with expenses, depreciation, etc., which results in some amount possibly being taxable. But yea, the final amount from Schedule E appearing on the 1040 would give the impression of lower total income. That's where a memo pointing out income related issues can help explain to BOI. https://smartasset.com/taxes/rental-income-tax

Yeap...even an EA Anywhere 90KW charging station cable is a hefty, handful to handle cable. Can a lady do it...sure....but it takes some real effort especially in tight quarters. I'm a man and have used these 90KW charger several times and handling an EA Anywhere 90KW charging cable compared say a 50KW charging cable is like comparing the lifting of a 20 pound bag to a 10 pound bag of something. But a hefty cable is a side effect of bigger chargers....liquid cooled cables may reduce the weight but I haven't run across any liquid cooled charging cables in Thailand yet.

I'll guess 3,200 for BYD since they booked 5,455 at the 29 Nov-10 Dec 2023 Motor Expo 2023 (see pic at bottom). I just can't see the current, outgoing motor show booking numbers approaching the late 2023 motor show numbers of over 53,000 for all EV/ICEV manufacturers as I think potential buyers are gun-shy of buying right now due to the ongoing cut-throat pricing for EV and ICEV....that is, buy today and next month the same new vehicle will be Bt100K cheaper pis%ing a person off. Of course other factors will also probably suppress total numbers as a sales slump of EV and ICEV seem to be occurring right now in many countries to include Thailand...probably by mid 2024 the sales pace will start picking up again. But who really knows...my cloudy crystal ball gets it wrong all the time. https://www.motorexpo.co.th/exhibitors/profile/2449

That someone would need to include a short memo with his LTR application explaining that no income tax return is provided as he is not require to submit an annual tax return for reason(s) XYZ. BOI is very aware of income tax return requirements for many countries as to if and when a return would be required or not. Then the person will need to submit other income documentation such as pension statements/letters and/or various other financial statements to prove he meets the required income requirements especially for the pension/passive income. See below from BOI LTR website regarding LTR Pensioner documentation requirements. And even when that someone "did" have a tax return to submit but it showed less than the required income requirement because some of his income is "non-reportable/non-taxable" then that is when the other income documents come into play....actually become the primary documents to prove the required income and the tax return is just a secondary document. An example would be for a U.S. military veteran drawing a "Veteran's Administration (VA)" pension/benefit which could be tens of thousands of dollars per year---not one penny of that is taxable/reportable on a tax return per U.S. tax law....and the VA does not even provide an annual tax document because by law the benefit is not taxable/reportable. From BOI LTR website https://ltr.boi.go.th/documents/Required-Documents-for-Qualification-Endorsement-for-Wealthy-pensioner-16-03-66.pdf

Correct. The motor show booking/reservation stats up until today had a note code sayings those manufacturers with "slashes" for their booking numbers was due to some manufacturers having decided not to release their booking numbers until the end of the motor show on 7 March. That note seems to have disappeared now.

Any DC Charger is a fast charger....DC Fast Chargers start at 25KW and go up. AC chargers are limited to 22KW (it will be a 3 phase charger and a EV will only charge at that 22KW "if" the EV has a 3 phase onboard charger. Most EVs don't have a 3 phase onboard charger since in many countries 3 phase power is not that common so manufacturers don't waste money with 3 phase onboard chargers if its likely a person buying an EV in country XYZ where 3 phase power is not readily available. Now some EV do come with 3 phase onboard chargers. But when it comes to DC the onboard charger is not used as the DC Fast Charger (starting at 25KW) provides DC vs AC to the EV.