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Long Term Resident Visas


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3 hours ago, Tofer said:

I for one can't wait, and see it as a positive step forward to acknowledge the worth and investment of foreigners who have made a financial commitment to the country,

I view these things as just another option so as long as they don't displace any of the current visa options then it can only be a good thing (even if it's only relevant to a small minority). 

 

However, I haven't seen it mentioned that financial commitments already made will count towards any investment needed. E.g. I wouldn't be surprised that even if you have already bought a $500K Condo in your own name, you may still have to bring in an additional $500K to fulfil the requirement. 

 

 

NB I'm not saying this IS the case, it just seems to make more sense if the purpose is to get more foreign investment. 

 

 

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8 hours ago, Mike Teavee said:

I view these things as just another option so as long as they don't displace any of the current visa options then it can only be a good thing (even if it's only relevant to a small minority). 

 

However, I haven't seen it mentioned that financial commitments already made will count towards any investment needed. E.g. I wouldn't be surprised that even if you have already bought a $500K Condo in your own name, you may still have to bring in an additional $500K to fulfil the requirement. 

 

 

NB I'm not saying this IS the case, it just seems to make more sense if the purpose is to get more foreign investment. 

 

 

I would imagine it's in Thailand's interests to get a 10 year committment from 'wealthy individuals' and that all previous investments would count towards one's required investment........just a matter of changing visas hopefully........................................ Financially, with an upfront fee, the treasury's coffer will benefit too as some expats unfortunately won't out-live or stay the whole the 10 years........................................................

I also imagine the small print would require an updated annual fiscal statement to make sure one isn't flying below the radar having repatriated funds etc which begs the question, how much pain would one be subjected to in submitting that info!!..........................................................

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30 minutes ago, CANSIAM said:

I think the renewable 10 year O-X would be 'slightly' more attainable for most rather than the LTR

Yes, that could be the case for retirees.  But 3 of the 4 LTR categories not only allow the recipient to work, but apparently come with a work permit.  The LTR program is administered by the BOI and will have a one stop service element to it.

 

So for those who work and have endured the vageries (a polite word) of the current system for years of increasingly dysfunctional renewals, although not perfect, the LTR program could be a big step forward.

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18 hours ago, Mike Teavee said:

However, I haven't seen it mentioned that financial commitments already made will count towards any investment needed. E.g. I wouldn't be surprised that even if you have already bought a $500K Condo in your own name, you may still have to bring in an additional $500K to fulfil the requirement. 

I must confess I cannot say categorically that this isn't the case, however, in the Thaiger news report, they clearly state the investment sum must be proved "BEFORE" you apply.

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10 hours ago, Sparktrader said:

Elite visa 500k. No other hassles

Cambodia $us300 no other hassles fly into thailand. In and out. 

 

250k us in bonds is a lot of dead money.

The Elite visa fee, is exactly that, a fee payment for the application / membership, i.e. paid up / gone / lost.

 

Whereas the $250K is an investment, which you can, hopefully profit from, and withdraw at a later date.

 

 

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10 hours ago, bojo said:

I also imagine the small print would require an updated annual fiscal statement to make sure one isn't flying below the radar having repatriated funds etc which begs the question, how much pain would one be subjected to in submitting that info!!..........................................................

Fair point, no mention of that as yet. But, I assume it can't be any worse than the current marriage visa extension requirements in terms of bureaucracy , and if all your documents are in order, it's just a copy and repeat exercise, hopefully.

 

I would agree, there would possibly be some mechanism to ensure that you are still invested in Thailand in the sums required.

 

Our investment is property, and we have no intention of selling unless we're made a ridiculous offer. But even then, we still own the remainder of our land in our chosen location, and would build ourselves another home, and will continue to qualify.

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11 minutes ago, Tofer said:

The Elite visa fee, is exactly that, a fee payment for the application / membership, i.e. paid up / gone / lost.

 

Whereas the $250K is an investment, which you can, hopefully profit from, and withdraw at a later date.

 

 

500k baht is not much usd.

 

250k usd is a lot. Could be in shares going up 200%

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21 minutes ago, Tofer said:

The Elite visa fee, is exactly that, a fee payment for the application / membership, i.e. paid up / gone / lost.

 

Whereas the $250K is an investment, which you can, hopefully profit from, and withdraw at a later date.

 

 

Bonds go up and down with the yield.

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15 hours ago, RedArmy said:

I agree with you 100% brother - When i read the OP original post, i nearly creamed my pants - I was quickly brought back down to earth though & realised that this aint for your every day Joe Bloggs .

Yep, I thought your "white elephant" description was particularly apt!

 

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2 hours ago, BritTim said:

I wonder if there will be any agents who can inveigle this visa without meeting all the requirements.

Well, I guess this is Thailand after all.  But how open is the BOI to that kind of thing? 

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I await the details.

Does this free up the "car in the carport" 400,000/800,000 baht bank deposit?

Moving visa to a new passport same as moving an extension?

Does the USD 80,000 need to move to Thailand  and if so how much of it?

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