10 year Long-Term Resident (LTR) visa to make living in Thailand “easier and less bureaucratic”

[webfact]

 

The Board of Investment of Thailand (BOI) has confirmed that applications for the new Long-Term Resident (LTR) visa will open on Sept 1, 2022.

 

The LTR visa was first mooted in September 2021 and aimed to attract foreigners of “high potential” to live and work in Thailand.

 

The Thai government saw the visa as a way to encourage investment into Thailand and stimulate the economy as part of the country’s post pandemic recovery.

 

Despite being approved by the Cabinet last year, details about the LTR visa had been scarce.

 

Full story: https://www.huahintoday.com/thailand-news/10-year-long-term-resident-ltr-visa-to-make-living-in-thailand-easier-and-less-bureaucratic/

 

-- © Copyright Hua Hin Today 2022-07-06

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[smedly]

I have no doubt it will be out of the reach of 99.99999% of people and those that actually meet the criteria will go somewhere else

 

How about offering those that have lived here (or are married to Thai) for 10+ years an easy option to extend their permission to stay for longer periods and an option to pay into the government health system

[ExpatOilWorker]

Cambodia seem to have figured it out.

https://www.pattayamail.com/latestnews/news/now-cambodia-competes-with-thailand-for-10-year-visa-long-stayers-403114

[Boomer6969]

21 minutes ago, smedly said:

an option to pay into the government health system

No thanks. One day of bureaucracy to see a doctor, who is overworked and has only 5 minutes to spare for you. And, only for patients who can speak Thai.

 

No the problem with the LTR will be that once more they will refuse your current cover from overseas.

[RichardColeman]

2 hours ago, webfact said:

 

The LTR visa was first mooted in September 2021 and aimed to attract foreigners of “high potential”

You would think that taking care of a Tha wife, a thai child and bringing millions into the thailand economy in said 10 year without fail would make you a 'high potential' person. But no you're just an unwanted mug to the thai long term visa people. Shameful 

[Thaiwrath]

29 minutes ago, Boomer6969 said:

No thanks. One day of bureaucracy to see a doctor, who is overworked and has only 5 minutes to spare for you. And, only for patients who can speak Thai.

 

No the problem with the LTR will be that once more they will refuse your current cover from overseas.

In my 17 years living here, I always use Government Hospitals, and have never been seen by a doctor that has not been able to speak very proficient English. It also takes up 4 or 5 hours of my day, including transport both ways, so I have never encountered this 'one day of bureaucracy' ? After being registered on your first visit, every other visit is pretty much plain sailing. 

[ThailandRyan]

A pensioner averaging $6,666 dollars a month for the $80k a year amount is considered wealthy for applying for the LTR. Anywhere else on the world they would be just getting by.  Do I qualify, sure, but how is an 80k pension considered wealthy. I guess when they look at it as over 200k Thb a month compared to the average Thai your rich beyond belief. Hello hansum man.    

[ThailandRyan]

9 minutes ago, Thaiwrath said:

In my 17 years living here, I always use Government Hospitals, and have never been seen by a doctor that has not been able to speak very proficient English. It also takes up 4 or 5 hours of my day, including transport both ways, so I have never encountered this 'one day of bureaucracy' ? After being registered on your first visit, every other visit is pretty much plain sailing. 

100% agree. The treatment is very good as well.  Sometimes at a government hospital the wait can be long but it always works out.

[ikke1959]

If you are a wealthy and well educated why should you choose a long term visa for Thailand? It is expensive has no real benefits and can be changed as everything, every day. Start with the normal visas make less bureaucratic first. no 90 days reports anymore if you extended your visa for 3 consecutive years or so, Not fotocopies of passports and all kind of documents for re entry vis, proof of adress, and annual renewal, but scan them in a file on the computer. and treat people as guests instead of potential criminals....Be welcoming for everyone and the people will come automatically, instead of attracking people without all kind of nothing except an expensive visa for 10 years... 

[ezzra]

Like everything else in Thailand, good intentions but bad execution and lousy terms and conditions that makes you you scratch your head, like other posters suggestions, it should be offered to a already long term stayers and residents with families and exemplary records of staying in the kingdom..

[Rhys]

Wait.. the Dpm of health has not given his earth insight comment

[aussiexpat]

39 minutes ago, ThailandRyan said:

A pensioner averaging $6,666 dollars a month for the $80k a year amount is considered wealthy for applying for the LTR. Anywhere else on the world they would be just getting by.  Do I qualify, sure, but how is an 80k pension considered wealthy. I guess when they look at it as over 200k Thb a month compared to the average Thai your rich beyond belief. Hello hansum man.    

You're dreaming if you think a US$80k annual pension is just getting by in the rest of the world.

 

I'm self funded retired with a property in Aus and Thailand splitting my time and I'm living well spending less than US$30k per year 

[garyk]

Believe me they will have a few, the same guys that fell for the " The buffalo is sick" , Thailand is the home of this kind of nonsense. From the bar girl to the highest official, same mind set.

[garyk]

22 minutes ago, aussiexpat said:

You're dreaming if you think a US$80k annual pension is just getting by in the rest of the world.

 

I'm self funded retired with a property in Aus and Thailand splitting my time and I'm living well spending less than US$30k per year 

Don't listen to these guys, they don't have a clue what is going on. 30K is a good life most places especially if retired with no debts. 

Hell, I keep a nice home in the US and travel the world and live a comfortable life for that, and save a few bucks every month.

I spend most of what I make now, problem is I have been living a thrifty life so long I have accumulated to much. But, not changing now. 

 

[mikebell]

Been here nearly 20 years; at nearly 80 it's probably come too late for me even if the bureaucracy could be circumvented.  I agree with the above poster Richard Coleman; retirees should be the bedrock on the Thai economic rebuild.  I have spent millions over the years on housing; educating step-daughters; cars; entertainment; restaurants etc.  Yet I am not allowed to own my own house or start up a business without yielding 51% to Thais.  

Talk about cake and eat it!  Thailand does not deserve people like me.

[ThailandRyan]

38 minutes ago, aussiexpat said:

You're dreaming if you think a US$80k annual pension is just getting by in the rest of the world.

 

I'm self funded retired with a property in Aus and Thailand splitting my time and I'm living well spending less than US$30k per year 

Well in the US, California, if I did not have my investments and was living there full time my cost of living with all of the price increases would drain 85% of my pension each month. Add in if buying a house still and making payments your living a non wealthy life.  Just read an article where to be well off and able to live in many coastal big cities you need several million to be seen as wealthy.

[ThailandRyan]

34 minutes ago, garyk said:

Don't listen to these guys, they don't have a clue what is going on. 30K is a good life most places especially if retired with no debts. 

Hell, I keep a nice home in the US and travel the world and live a comfortable life for that, and save a few bucks every month.

I spend most of what I make now, problem is I have been living a thrifty life so long I have accumulated to much. But, not changing now. 

 

Guess I am not leading a sheltered life. Still paying on College loans for my now doctor daughter and CPA daughter. One still in HS with college to come.  At 57, still need to budget wisely in case the inevitable occurs and I am left with nothing except my pension.  Of course we live a nice life style. Monthly trips etc...

 

I have helped my children along the way, but I am just considered Middle class in the US.

 

In this analysis, “middle-income” adults in 2021 are those with an annual household income that was two-thirds to double the national median income in 2020, after incomes have been adjusted for household size, or about $52,000 to $156,000 annually in 2020 dollars for a household of three.

[khunjeff]

2 hours ago, Boomer6969 said:

No the problem with the LTR will be that once more they will refuse your current cover from overseas.

The devil will certainly be in the details, as usual, and insisting on poor quality Thai insurance instead of unlimited overseas insurance is one of the "details" that I'm also thinking may be introduced to derail this plan before it starts. The O-X visa also sounded good when it was first described in broad strokes, but once every Tom, Dick, and Somchai had introduced his own extra requirements, it became a total bust. 

 

Anyway, I'll try to stay optimistic and withhold judgement until the real, specific requirements are announced. 

[Pesche]

56 minutes ago, mikebell said:

Been here nearly 20 years; at nearly 80 it's probably come too late for me even if the bureaucracy could be circumvented.  I agree with the above poster Richard Coleman; retirees should be the bedrock on the Thai economic rebuild.  I have spent millions over the years on housing; educating step-daughters; cars; entertainment; restaurants etc.  Yet I am not allowed to own my own house or start up a business without yielding 51% to Thais.  

Talk about cake and eat it!  Thailand does not deserve people like me.

Spot on, Mikebell!

Living also since 30 years here, I said, ten years ago:

Retirees ARE the best potential for Thailand's Long Term Residents future!

Allow them to:

Receive a multi entry 1 year Retirement Visa with illimited renewal year by year

Legally buy 1/2 a Rai (800 m2) to build own residency

It is a win win for both

 

[Wrwest]

2 hours ago, ThailandRyan said:

A pensioner averaging $6,666 dollars a month for the $80k a year amount is considered wealthy for applying for the LTR. Anywhere else on the world they would be just getting by.  Do I qualify, sure, but how is an 80k pension considered wealthy. I guess when they look at it as over 200k Thb a month compared to the average Thai your rich beyond belief. Hello hansum man.    

Ah, if it were only so … I could have afforded to be retired in my homeland. As it is, out priced in my own country, I retired to a lower cost country where my monthly sustainable budget is $2400 USD ($1385 of that from SS). An economic refugee able to have a comfortable working middle class retirement here in Thailand. Perhaps a bit of economic reality it’s is involved.

[aussiexpat]

1 hour ago, ThailandRyan said:

Well in the US, California, if I did not have my investments and was living there full time my cost of living with all of the price increases would drain 85% of my pension each month. Add in if buying a house still and making payments your living a non wealthy life.  Just read an article where to be well off and able to live in many coastal big cities you need several million to be seen as wealthy.

That's the key, I have no debts and no rent as I own both my properties. I just spent 4 months in Thailand eating out for every meal and I struggled to spend 60,000 baht a month (US$20k per year)

[Misterwhisper]

3 hours ago, RichardColeman said:

You would think that taking care of a Tha wife, a thai child and bringing millions into the thailand economy in said 10 year without fail would make you a 'high potential' person. But no you're just an unwanted mug to the thai long term visa people. Shameful 

Hear, hear, well said -- and down to the point.

 

Meanwhile, my home country automatically grants Thai citizens who are married to a national of my country permanent residency after just 15 months, including permission to work. Cost? ZERO.

 

And Thai citizens who have legally lived and worked there for at least 3 years are accorded the same privilege regardless of their marital status. Cost? Again ZERO.

 

No "minimum investment amounts" required either. Perhaps we recognize that they support our economy with their tax payments, social security contributions and day-to-day spending.

[ThailandRyan]

18 minutes ago, Misterwhisper said:

Hear, hear, well said -- and down to the point.

 

Meanwhile, my home country automatically grants Thai citizens who are married to a national of my country permanent residency after just 15 months, including permission to work. Cost? ZERO.

 

And Thai citizens who have legally lived and worked there for at least 3 years are accorded the same privilege regardless of their marital status. Cost? Again ZERO.

 

No "minimum investment amounts" required either. Perhaps we recognize that they support our economy with their tax payments, social security contributions and day-to-day spending.

Ergo the same as the US. Once a Thai, married to a US citizen obtains her Visa and enters the US they are given permanent residence and in 5 years can apply to become a naturalized US Citizen.  Thailand the country where only a foreign woman married to a Thai can become a permanent resident and naturalized citizen.

[Boomer6969]

1 hour ago, khunjeff said:

Anyway, I'll try to stay optimistic and withhold judgement until the real, specific requirements are announced. 

I cannot be optimistic, as health insurance is only one spanner IOs will throw into TBI's wheel. Remember what they did to Brits, and others, who wanted extensions based on monthly income. The came up with a totally anal requirement where you had to show 12 monthly identical payments into a Thai bank account. Even if it sounds easy many ended up having all sorts of problems. Most of those were scraping by on small pensions that would never be liable to any significant income tax, but I let you imagine the consequences this could have on pensions of more than 200000 THB a month. Under the current tax law we just cannot transfer larger pensions the year we earn them if we want to stay safe from the Tax office.

[Sydebolle]

"easier and less bureaucratic" .......

My suggestion is to charge 10'000 Baht/yearly for a one-year visa incl. multiple re-entry. Applicants sign that healthcare and third party issues remain the responsibility of the applicant. 

This would send 75% of those uniformed, commonsense-less goons packing, less expenses and considerably more net revenue into the emptying state coffers of the Kingdom. They will have to offload anyway these completely overstaffed inefficient temples of bureaucracy in the future - the earlier the better! 

Will not happen as nepotism is a government-sponsored way of running the country while creating dependents of the lower ranks towards the chosen people running the promised land! 

[Burma Bill]

6 hours ago, webfact said:

aimed to attract foreigners of “high potential” to live and work in Thailand.

With the compulsory wearing of face masks???? Not me!

[capcase]

i don't understand why thailand doesn't allow foreigners to buy single family houses or townhouses. if it is enabled, thailand can substantially increase its  revenue. i don't mind pay higher property tax.

[Srikcir]

Health insurance is key factor for me.

If the US$50,000 coverage can be provided by a foreign health insurance provider, I will consider the LTR. Currently, my foreign health insurance is paying 50k baht per month for my medical treatment to a Thai hospital. My annual premium nor age is not affected by this cost.

[patman30]

most people who qualify
will have many more better options
the risk is much greater than the reward

Thailand is over valueing what it has to offer
which right now is very little.

[Misterwhisper]

52 minutes ago, ThailandRyan said:

Ergo the same as the US. Once a Thai, married to a US citizen obtains her Visa and enters the US they are given permanent residence and in 5 years can apply to become a naturalized US Citizen.  Thailand the country where only a foreign woman married to a Thai can become a permanent resident and naturalized citizen.

I am not familiar with US residency laws, but take you by your word. But in my case it's a Schengen Zone country, and I figure the same system therefore would apply across the EU.

 

Of course, you are making a very good point regarding that ridiculous differentiating whether the "foreign devil" is female or male. If anyone should be able to easily and cheaply obtain permanent residency in Thailand, it surely should be the MALE foreigners -- because just like their Thai counterparts it is typically THEM who have to look after a family and thus need to earn a living.

 

On another note, just imagine how the Thai government would react if we treated Thai citizens with the same yardstick for obtaining permanent residency that Thailand applies on us. The Thai government would whine and complain and huff and puff how unfair it all is, no doubt. And how racist. And how xenophobic. And how anti-Thai.

 

Lastly, that LTR visa in my opinion is little more than yet another scam to squeeze as much money out of us "rich" foreigners as quickly as possible. There is absolutely no foresight, no appreciation, no goodwill towards long-term, sustained contributions to the local economy. It's always and only "quick, quick, quick, pay up, pay up, pay up" and truly leaves foreign pensioners as well as foreigners looking after their Thai families in limbo. The insecurity whether your next year's extension will sail through or not can be really nerve-racking.

 

And yes, the vast, vast, vast, vast majority among us are NOT foreign criminals trying to hide out in Thailand. But we are decent, law-compliant people who just want to live. I wish that also finally would sink in with the local powers-that-be.

 

There currently are well over 100,000 Thai citizens legally living and working in my home country, almost ALL of them having been granted permanent residency or even citizenship. By comparison, there are considerably fewer than 10,000 of my fellow countrymen currently living in Thailand, of whom only a tiny fraction hold permanent residency. Even fewer among them have been coaxed into signing up for that "other" quick-money scam called "Elite Visa".