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

[James105]

6 hours ago, Baron Samedi said:

The Philippines is offering a 5 years visa for digital nomads / workationers.

Easy stay + no taxes on money made abroad.

That's the way Thailand should go rather than trying to attract AI experts and nuclear physicists - those don't give a rat's ass about the kingdom and what it has to offer.

Thai leadership = ????

Last I heard the internet in the Philippines was really poor which has always ruled this country out for me.   Has it improved in recent years?

[Lacrimas]

3 hours ago, Boomer6969 said:

They are not. They are only for solid middle income/wealth.

 

The problem will their enforcement. Thai xenophobic Immigration bureaucracy will take over and deter most candidates. Why do they have currently 3 or 4 long term retirement visas? It is simply history repeating itself, and they don't even see the problem, too dumb, they just come up with yet another visa.

They are for 99% of the people which also includes those that for the same money would rather go to a civilized country like Spain instead of this mess we all live in. Not only the 'poor' which are not at 6.666 dollars a month like someone else pointed out, it is not middle class in most of the world. Let's stop pretending this is not a low cost country and that's why we moved here. This attempt at the rich is another pathetic attempt because the real rich would go to another place rather than Somchai land.

Edited July 7, 2022 by Lacrimas

[BritManToo]

20 hours ago, James105 said:

The discounted personal income tax rate could be a big deal for those of us that are not retired which is 17%.    So for someone who is earning £66,000 (which is $80k USD) in the UK (which is where I currently pay tax) then they would be paying £19,691 in tax annually.   Even if the 17% discounted personal rate is a flat rate on all income (which it probably is) then the equivalent annual tax bill in Thailand would be £11,220.

 

Thats a pretty good privilege in my opinion.   

All money earned in the UK gets taxed in the UK no matter where you live. 

[BritManToo]

7 hours ago, Baron Samedi said:

The Philippines is offering a 5 years visa for digital nomads / workationers.

Easy stay + no taxes on money made abroad.

That's the way Thailand should go rather than trying to attract AI experts and nuclear physicists - those don't give a rat's ass about the kingdom and what it has to offer.

Thai leadership = ????

No visa required for the Philippines, you can turn up without a visa and stay 3 years making a $50 payment every 2 months. No conditions attached. 

[Misty]

I can see why retirees may not find this program very interesting, since they have other options.  And many people may not qualify, making the program unusable for them.

 

However for working professionals who qualify, this program looks much more sensible than the existing one. I would agree with the article's title if it read "10 year LTR visa to make living and working in Thailand easier and less bureaucratic for those who qualify"

[James105]

38 minutes ago, BritManToo said:

All money earned in the UK gets taxed in the UK no matter where you live. 

Sure, but my income is not earned in the UK and hasn't been for several years - my income is basically royalties from a publisher in the USA.    I remain a UK tax resident as I need to pay tax somewhere and Thailand does not allow me to work here legally.  This visa would allow me to legally conduct my business here as well as pay tax where I am actually residing.   Seems like a win for me and a win for Thailand.   

[BritManToo]

4 minutes ago, James105 said:

Sure, but my income is not earned in the UK and hasn't been for several years - my income is basically royalties from a publisher in the USA.    I remain a UK tax resident as I need to pay tax somewhere and Thailand does not allow me to work here legally.  This visa would allow me to legally conduct my business here as well as pay tax where I am actually residing.   Seems like a win for me and a win for Thailand.   

Philippines is an easier country for you to stay. 

You should also look at Mauritius if you have an income over $1500/month.

Edited July 7, 2022 by BritManToo

[James105]

1 hour ago, Lacrimas said:

They are for 99% of the people which also includes those that for the same money would rather go to a civilized country like Spain instead of this mess we all live in. Not only the 'poor' which are not at 6.666 dollars a month like someone else pointed out, it is not middle class in most of the world. Let's stop pretending this is not a low cost country and that's why we moved here. This attempt at the rich is another pathetic attempt because the real rich would go to another place rather than Somchai land.

I don't really understand why people are getting salty about this.  Not all visas are designed for all people.   The over 50 visa is not designed for me as I am not yet 50 but I don't feel the need to jump up and down complaining about that.   

 

This one would work very well for me and several other people I know who have done quite well from their online businesses, and are currently working under the radar on education/elite/volunteer/some other kind of visa.  

[aussiexpat]

30 minutes ago, James105 said:

Sure, but my income is not earned in the UK and hasn't been for several years - my income is basically royalties from a publisher in the USA.    I remain a UK tax resident as I need to pay tax somewhere and Thailand does not allow me to work here legally.  This visa would allow me to legally conduct my business here as well as pay tax where I am actually residing.   Seems like a win for me and a win for Thailand.   

Not sure why you're paying so much tax in UK when you're not living there. I was non-resident for tax purposes in Aussie for 16 years, all my money went to a secret Jersey Bank account, never paid $1 tax

 

Edited July 7, 2022 by aussiexpat

[khunpa]

On 7/6/2022 at 11:37 AM, zoltannyc said:

Very few people  (0.1%-1% of the population of the richest countries) have assets of $1m or can invest $500k or have $80.000 personal income whatever that means[before or after tax], plus a have a $50k health insurance valid in Thailand for ten years. 

And after all the requirements you get a restricted tourist/working visa with immediately police reporting upon arrival (TM30), reporting every 90 day to the police (TM47) plus reporting to the police every year to extending the stay permit again.

You forgot to mention the extra “problems” you can also easily get once you show your wealth as a foreigner here.

 

I once had a very successful company here in Thailand paying A LOT of tax and creating hi-paying local jobs.
 

Moved the company abroad as soon as the boss at the local revenue department started harassing and trying to blackmail us, although we followed all laws and rules. 
 

Once they smell easy Farang-money, they have no moral or shame.

 

 

Edited July 7, 2022 by khunpa

[Mavideol]

On 7/6/2022 at 9:42 AM, 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.

I am always surprised why all or the majority of countries from Asia when competing on international activities ONLY have send/have people from their own race competing, never saw a Chinese, Thai or other Aisian race showing a white westerner/Caucasian person competing under their flag. If one looks at the USA, France, UK, Spain, Portugal and so forth we will see how mix/variety of their competitors are, it shows we are not racists and/or discriminate as Asians are/do

[Mavideol]

what would be the requirements for every year renewals or would it be just like the current 90 days, walk in show passport get print out and leave

 

 

[starky]

4 hours ago, Everyman said:

The requirements about “pensions” are specific, it’s not just wanting 80k+ it has to be in a “pension,” which is a rather outdated way of looking at the income. I suppose that means an annuity if it was the result of a personal investment. 

So if your 80k is coming from investments or wages your not eligible? Who gets an 80k US a year pension? Anybody? Is there any country that pays a US 1500 a week pension?

Edited July 7, 2022 by starky

[wasabi]

Like others here I noticed they extended 90 day reporting to 1 year for this visa. I called Thailand Elite and asked if this will be offered to holders of it as well. I was told they are aware of this benefit and it is being discussed as a potential benefit for Thailand Elite members in the future.

 

I think all long term visa holders ought to have this benefit but since I have the TE visa that is my focus.

Edited July 7, 2022 by wasabi

[thanaka]

In theory it's an excellent visa for independent remote workers. I would get it in an instant if there wouldn't be the criteria that you need a huge corporation (150m revenue) as an employer, which makes it virtually impossible to get it.

 

Even if you earn above 100k a year for the past 10 years - which should be enough to proof that you have stable income - you will not get it if you're not backed by a huge corporation. Kinda sucks.

[Everyman]

4 hours ago, starky said:

So if your 80k is coming from investments or wages your not eligible? Who gets an 80k US a year pension? Anybody? Is there any country that pays a US 1500 a week pension?

I was talking to people about it in a Facebook group, and a few big shots were talking about how that was easy, no problem and that’s a small pension where they are from.

 

I pushed them for details and they weren’t talking about pensions at all. 

 

In theory an annuity might work, but if you are 60 years old when you purchase it, it would cost 1.250 million USD which is kind of a lot just to qualify for a temporary visa.

[ThailandRyan]

16 minutes ago, Everyman said:

I was talking to people about it in a Facebook group, and a few big shots were talking about how that was easy, no problem and that’s a small pension where they are from.

 

I pushed them for details and they weren’t talking about pensions at all. 

 

In theory an annuity might work, but if you are 60 years old when you purchase it, it would cost 1.250 million USD which is kind of a lot just to qualify for a temporary visa.

I wonder if my Pensions, annual Verification of Income letter which includes the following will be accepted. Cut straight from the letter.

 

"Our records indicate that: • The participant began receiving a lifetime Defined Benefit on October 05, 2018. The current gross monthly benefit amount is $xx,xxx,xx"

 

You wanted someone to discuss a pension so here you go. But why should I list how much it states. It is over 80k a year is all that's needed for your edification.

Edited July 7, 2022 by ThailandRyan

[Lacrimas]

7 hours ago, James105 said:

I don't really understand why people are getting salty about this.  Not all visas are designed for all people.   The over 50 visa is not designed for me as I am not yet 50 but I don't feel the need to jump up and down complaining about that.   

 

This one would work very well for me and several other people I know who have done quite well from their online businesses, and are currently working under the radar on education/elite/volunteer/some other kind of visa.  

LOL no one believes that, what a load of <deleted>. You have much better options.

[Sparktrader]

On 7/6/2022 at 10:44 AM, ThailandRyan said:

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.

Household could be 2 people

 

100,000 baht a month is heaps. Even in oz heaps outside of syd, melb.

 

 

[Baron Samedi]

10 hours ago, James105 said:

Last I heard the internet in the Philippines was really poor which has always ruled this country out for me.   Has it improved in recent years?

Really depends of what you need.

This is what Wikipedia says:

[JCP108]

5 hours ago, thanaka said:

In theory it's an excellent visa for independent remote workers. I would get it in an instant if there wouldn't be the criteria that you need a huge corporation (150m revenue) as an employer, which makes it virtually impossible to get it.

 

Even if you earn above 100k a year for the past 10 years - which should be enough to proof that you have stable income - you will not get it if you're not backed by a huge corporation. Kinda sucks.

This is a very good point. I own my own business which is located in the U.S. and I pay taxes in the U.S. My income from that business is $89-90k/year. But, it's my own business, not with some super big company. So, I would not qualify, right? Lots of digital nomads would qualify for the money requirement but be just like me as they would be individual businesses not tied to a large company. 

[Camillof]

On 7/6/2022 at 2:15 PM, aussiexpat said:

So basically if retired, 1 year reporting instead of every 90 days lol

 

Yes, such a laughable, clumsy, even disrespectful offer, showing the low esteem they feel towards foreigners in general: "You dogs, do as we say and we might extend your leash a little. Don't ever dream of getting rid of it."

 

Also: do some computing and you'll find that 9 times in 10 years is relatively "more frequent", no "less frequent", than 3 times in 1 year; even if the absolute time span is longer... "Once every 3 years" would start making better sense as an offer.

 

Finally, this offer also reveals how pointless the 90 days reporting really is, even for them ????

[Everyman]

3 hours ago, ThailandRyan said:

I wonder if my Pensions, annual Verification of Income letter which includes the following will be accepted. Cut straight from the letter.

 

"Our records indicate that: • The participant began receiving a lifetime Defined Benefit on October 05, 2018. The current gross monthly benefit amount is $xx,xxx,xx"

 

You wanted someone to discuss a pension so here you go. But why should I list how much it states. It is over 80k a year is all that's needed for your edification.

okay that’s great.

 

It’s just that i thought such pensions are rare.

 

maybe i need a better job lol

[starky]

7 hours ago, Everyman said:

I was talking to people about it in a Facebook group, and a few big shots were talking about how that was easy, no problem and that’s a small pension where they are from.

 

I pushed them for details and they weren’t talking about pensions at all. 

 

In theory an annuity might work, but if you are 60 years old when you purchase it, it would cost 1.250 million USD which is kind of a lot just to qualify for a temporary visa.

But if I was to go off the very strict rules you mentioned an annuity is not a pension either. 

  If they are going to accept an annuity then I imagine they would accept any self funded or proof of monies over that 1500 USD a week going into a bank account.

  If it is as you say a "pension" only I can't see anyone qualifying for that. How could they? when by definition a pension is money paid by a state to people with insufficient funds to support themselves in retirement. 

   I know Norway has all that all and gas money funnelled into pension but I doubt it would be 1500 USD a week. I also know in Australia the maximum pension is around a 1000 AUD a fortnight. What you saying makes no sense.

[starky]

7 hours ago, ThailandRyan said:

I wonder if my Pensions, annual Verification of Income letter which includes the following will be accepted. Cut straight from the letter.

 

"Our records indicate that: • The participant began receiving a lifetime Defined Benefit on October 05, 2018. The current gross monthly benefit amount is $xx,xxx,xx"

 

You wanted someone to discuss a pension so here you go. But why should I list how much it states. It is over 80k a year is all that's needed for your edification.

Ok so first off fantastic awesome you are doing well. I doubt many if any would also be receiving such funds 

  Now to play devils advocate...lol. it seems some people are saying it must be a pension. Which to me would indicate solely funds paid by a government paid as a pension.

 I dont know nor care if your "defined benefit" is that. Secondly and if I was to nit pick that letter is 4 years old lol your principle could have reduced substantially in that time your monthly gross benefit could be one or even two zeros less than that now. It would be unlikely I imagine anyone would accept a 4 year old letter as proof of income for something that has not yet even open for applications yet ????. 

  Seriously though this is Thailand I think anyone over 50 earning an amount at least equal to the qualifying amount such as yourself should have no issue at all. Personally I see almost zero benefit outside possibly fast track privileges at Suvarnabhumi and as such will continue my yearly pilgrimage to Savannakhet. 

 Something to ponder in the few years till I hit 50.

[ThailandRyan]

3 hours ago, starky said:

Ok so first off fantastic awesome you are doing well. I doubt many if any would also be receiving such funds 

  Now to play devils advocate...lol. it seems some people are saying it must be a pension. Which to me would indicate solely funds paid by a government paid as a pension.

 I dont know nor care if your "defined benefit" is that. Secondly and if I was to nit pick that letter is 4 years old lol your principle could have reduced substantially in that time your monthly gross benefit could be one or even two zeros less than that now. It would be unlikely I imagine anyone would accept a 4 year old letter as proof of income for something that has not yet even open for applications yet ????. 

  Seriously though this is Thailand I think anyone over 50 earning an amount at least equal to the qualifying amount such as yourself should have no issue at all. Personally I see almost zero benefit outside possibly fast track privileges at Suvarnabhumi and as such will continue my yearly pilgrimage to Savannakhet. 

 Something to ponder in the few years till I hit 50.

The letters not 4 years old, that was the date I started to receive my lifetime pension and tge monthly amount only increases as COLA are added. It is a Defined Benefit pension. Look that one up, very rare these days.  Here's your definition of what it is.

 

A defined benefit (DB) pension scheme is one where the amount you're paid is based on how many years you've been a member of the employer's scheme and the salary you've earned when you leave or retire. They pay out a secure income for life which increases each year in line with inflation.

Edited July 7, 2022 by ThailandRyan

[gearbox]

18 hours ago, James105 said:

I don't really understand why people are getting salty about this.  Not all visas are designed for all people.   The over 50 visa is not designed for me as I am not yet 50 but I don't feel the need to jump up and down complaining about that.   

 

This one would work very well for me and several other people I know who have done quite well from their online businesses, and are currently working under the radar on education/elite/volunteer/some other kind of visa.  

Most of the people working online are freelancers working under some sort of incorporated umbrellas which won't satisfy the $150 mil corporate entity. Sure, there are pure remote workers working for global corporations directly as salaried employees, but they would be rare birds.

 

On top of that there is a master's degree requirement which will further cull the list of potential applicants.

 

Add to that also:

"At least 5 years of work experience in the relevant fields of the current employment over the past 10 years"

 

That sounds to me like technical expertise in some field, not vlogging or dropshipping.

 

As the OP mentions briefly "the details are very scarce". For many months all they were able to produce is 3 pages brochure.

[Pattaya Spotter]

On 7/6/2022 at 7:18 AM, mikebell said:

Thailand does not deserve people like me.

And yet you're here (I'm assuming)...so why should Thailand offer any special incentives to attract and retain people who are going to come and stay anyway? The goal is to attract others, especially HNW individuals who have a choice of where to live and invest and who are not basing this decision on their spouse/girlfriend. These people have to be given a reason to put Thailand on their list.

[James105]

1 hour ago, gearbox said:

Most of the people working online are freelancers working under some sort of incorporated umbrellas which won't satisfy the $150 mil corporate entity. Sure, there are pure remote workers working for global corporations directly as salaried employees, but they would be rare birds.

 

On top of that there is a master's degree requirement which will further cull the list of potential applicants.

 

Add to that also:

"At least 5 years of work experience in the relevant fields of the current employment over the past 10 years"

 

That sounds to me like technical expertise in some field, not vlogging or dropshipping.

 

As the OP mentions briefly "the details are very scarce". For many months all they were able to produce is 3 pages brochure.

Right, so Thailand only wants to offer this visa to high skilled, high earning or already wealthy people.   As I said, this visa is not for everyone and it obviously isn't designed to be, in much the same way the over 50 visa is not designed for people under 50.   The people who are upset about this are those who are unskilled or just don't earn enough, but that's fine as there are other visas they can get which are designed for them.   

[starky]

2 hours ago, ThailandRyan said:

The letters not 4 years old, that was the date I started to receive my lifetime pension and tge monthly amount only increases as COLA are added. It is a Defined Benefit pension. Look that one up, very rare these days.  Here's your definition of what it is.

 

A defined benefit (DB) pension scheme is one where the amount you're paid is based on how many years you've been a member of the employer's scheme and the salary you've earned when you leave or retire. They pay out a secure income for life which increases each year in line with inflation.

Even better. Thanks mate.