LTR Visa is Now available for Long Term Residency

[ThailandRyan]

25 minutes ago, Klonko said:

Thank you. Looks like condo only. I thought so. Dreams  do not come true (using LTR for direct ownership of property, which could give me more flexibility in the long run).

You can own a home as long as its a leasehold I do believe and worth over 500K USD under the LTRWGC section.  However, wouldn't most of those also possibly have over 80K a year in a pension they have access to.  I could have applied for either one but chose what was simpler as that was the LTRWP.

Edited October 21, 2022 by ThailandRyan

[tingtongfarang]

i would advise not to buy any condo or property here when rents are so cheap, i rent a 3 bedroom bungalow for 7000 per month, the previous house rental was 6000 for a 2 bedroom bungalow.... this is in bkk and they are so easy to find.

[mrmagyar]

2 minutes ago, tingtongfarang said:

i would advise not to buy any condo or property here when rents are so cheap, i rent a 3 bedroom bungalow for 7000 per month, the previous house rental was 6000 for a 2 bedroom bungalow.... this is in bkk and they are so easy to find.

Whilst this is true for investment advice, there are other reasons to own property than financial gain. There's other ways to view a property purchase than as a financial investment.

[ThailandRyan]

15 minutes ago, tingtongfarang said:

i would advise not to buy any condo or property here when rents are so cheap, i rent a 3 bedroom bungalow for 7000 per month, the previous house rental was 6000 for a 2 bedroom bungalow.... this is in bkk and they are so easy to find.

Yet that will not qualify one for one of the LTR visas if property investment is needed. 

[aublumberg]

4 hours ago, mrmagyar said:

Has anyone yet been approved for the 'Work From Thailand Professionals' visa, working for a private company?

 

Also, if applicants using this route were not bringing in their salary in the year that it was earnt, would it still be assumed that no Thai income tax was due?

This is no tax advise and I suggest anyone to seek professional advise for their own circumstances.

 

The following may provide context.

 

Royal Decree issued under the Revenue Code No.743 (TH).pdf (boi.go.th)

Royal Decree issued under the Revenue Code No.743 (EN).pdf (boi.go.th)

Notification of Income Tax No. 427 (TH).pdf (boi.go.th)

Notification of Income Tax No.427 (EN).pdf (boi.go.th)

 

Thailand Long Term Resident Visa Tax Concessions - SHERRINGS

 

Long-term resident visa approved for high-potential foreigners in Thailand - BDO

 

 

 

[mrmagyar]

14 minutes ago, aublumberg said:

This is no tax advise and I suggest anyone to seek professional advise for their own circumstances.

 

The following may provide context.

 

Royal Decree issued under the Revenue Code No.743 (TH).pdf (boi.go.th)

Royal Decree issued under the Revenue Code No.743 (EN).pdf (boi.go.th)

Notification of Income Tax No. 427 (TH).pdf (boi.go.th)

Notification of Income Tax No.427 (EN).pdf (boi.go.th)

 

Thailand Long Term Resident Visa Tax Concessions - SHERRINGS

 

Long-term resident visa approved for high-potential foreigners in Thailand - BDO

 

 

 

Very good links.

 

The Sherrings advice is quite conclusive there and suggests there would be* no tax due.

Edited October 21, 2022 by mrmagyar

[K2938]

2 hours ago, JimGant said:

I recently queried the LTR folks

How did you "query" the LTR folks and actually get an answer, please?  They seem to be too busy to answer emails or even pick up the phone.  Or this was a very long time ago?

 

Edited October 21, 2022 by K2938

[JimGant]

10 hours ago, K2938 said:

How did you "query" the LTR folks and actually get an answer, please?  They seem to be too busy to answer emails or even pick up the phone.  Or this was a very long time ago?

On 14 Oct sent query to: [email protected]. Received the following robo reply same day:

Quote

We thank you for your inquiry on LTR visa. As we are currently receiving a lot of email inquiries, please allow us 1 to 3 working days to send you a reply. Our working days and hours are Monday to Friday, 8.30-16.30 hrs. (BKK time). E-mails received on weekends or public holidays will be reviewed on the next business day.

We apologize for this inconvenience and very thankful for your patience and understanding. For urgent matters, please call 02 209 1100 ext. 1109-1110 or 1141-1149

They finally replied five days later.

[Pib]

12 hours ago, K2938 said:

How did you "query" the LTR folks and actually get an answer, please?  They seem to be too busy to answer emails or even pick up the phone.  Or this was a very long time ago?

 for

I hear you.  Approx two weeks ago I sent a question using their website contact form (weblink below)....I haven't got a reply as of 22 Oct.

 

https://ltr.boi.go.th/index.html#contact

[K2938]

1 hour ago, Pib said:

I hear you.  Approx two weeks ago I sent a question using their website contact form (weblink below)....I haven't got a reply as of 22 Oct.

 

https://ltr.boi.go.th/index.html#contact

Same for me.  Only got the robo auto reply two weeks ago about an answer allegedly forthcoming in 1-3 working days and that was it. 

[Northwest87]

On 10/21/2022 at 6:07 AM, tingtongfarang said:

i would advise not to buy any condo or property here when rents are so cheap, i rent a 3 bedroom bungalow for 7000 per month, the previous house rental was 6000 for a 2 bedroom bungalow.... this is in bkk and they are so easy to find.

An easy-to-find 3-bedroom bungalow at that price-range in Bangkok, that means you must be in the boondocks of the city.

[Northwest87]

18 hours ago, Pib said:

I hear you.  Approx two weeks ago I sent a question using their website contact form (weblink below)....I haven't got a reply as of 22 Oct.

 

I received yesterday an answer to a question I emailed near the end of September.  They apologized for being extremely busy, which of course we had figured out already, but it is comforting to see that the organization is making a point of taking care of business no matter what.

 

The 5-years renewal question that I had was answered as:

When you report to immigration bureau annually, you don't need to provide an evidence of your qualification at the moment such as health insurance but if at year 5, we will need to review your qualification again, it will be similar to when you are applying in online form so please prepare all the necessary documents by then.

 

And regarding medical insurance,

 

The health insurance will need to cover medical expenses in Thailand of at least USD 50,000 with a remaining coverage period of at least 10 months as of the date of the letter of qualification endorsement issuance; or evidence of social security benefits insuring medical expenses in Thailand and yes, the visa can only be approved once all the documents are submitted, that includes the health insurance.

 

Key words are "as of the date of the letter of qualification endorsement issuance". Working for Uncle Sam, I cannot officially renew my insurance coverage for 2023 until the "open season" starting nov 12th, so I assume that my best move would be to apply for the LTR WP early November since the BOI is probably processing slower than planned; then try to get an official letter from my insurance carrier asap (gotta have a $$ amount and a date specified obviously) and hope that things can get wrapped up prior to the end of February, when the Cinderella option ends and everything turns into a pumpkin. I can do the 100K thingy if push comes to shove, but I have data security concerns and I don't like that option.

 

NW

 

Edited October 22, 2022 by Northwest87

[Pib]

 

Good to hear you did get a belated reply. 

 

For many people the insurance nut is going to be a hard to crack....hard to thread the needle because of the expiration date issue.  Needing an expiration date which is at least 10 months down the road especially for those folks who have government/social security/military retiree medical insurance policies that "do not" have an expiration date.

 

Example: the U.S. govt Tricare for Life (TFL) which U.S. military retirees 65 and older have and provides worldwide coverage....there is no expiration date....just continue to stay enrolled by maintaining enrollment in Medicare Part B via monthly Medicare premium automatically taken from your social security pension.  Or, if not drawing a social security pension then pay the Medicare Part B premium manually by direct debit from your bank acct.  Yes, Medicare does not provide coverage outside the U.S. (except in some rare cases) but having Medicare Part B is required to have/maintain the TFL coverage which does provide worldwide coverage.  Basically TFL and Medicare are jointed at the hip.  And when I set foot in the U.S. for say a one day visit or move back permanently I'm instantly coverage by both Medicare and Tricare....leave the U.S. and it's back just to Tricare coverage.    Outstanding coverage whether outside or inside the U.S., but coverage with no expiration date....no policy statement....get all your coverage info online/via downloadable handbooks.....just a Medicare pocket membership card and with Tricare no membership card but instead you can get a Tricare Verification Letter that pretty much just says, "Yes you are enrolled in Tricare, have been for X-amount of years, etc." but there is no expiration/end date.   Basically typical government/social security-type medical coverage that does not come with a policy sheet defining coverage amounts like $100K, $1M, etc., (since the coverage is basically unlimited)...nor does it reflect an expiration/end date.....the only things that would cause an "end" to your policy is your death, failing to pay the monthly premium, or disenrolling.  

 

I'm going to be applying over the next week or so for a LTR Wealthy Pensioner Visa and will be applying using the medical insurance option of: "...or evidence of social security benefits insuring medical expenses in Thailand..."   TFL will be my coverage (and has been since living in Thailand for many years) as that is a government/social security-type medical coverage.  Then see what happens.   I sure hope the BOI understands most/all "social security-type insurance policies do "not" have policy end/expiration dates...continue to pay the monthly premium and you are covered until you croak or stop paying the monthly premium.  But if they are hard core about expecting to see a commercial/private insurance type policy that shows coverage amounts, like coverage up to $100K, "and" a policy expiration date then I'll be SOL.  And it will also show trying to qualified under ????their "or evidence of social security benefits insuring medical expenses in Thailand..."  is basically an option probably no one will be able to use and the BOI knew this from the get-go of devolving the requirements (probably with the insurance mafia assistance)....which then forces a person to buy a redundant commercial policy or go the self-insure option or just not apply.

 

Ah, I need to now go find some cheese after above whine.  

 

 

 

[mudcat]

I never managed to get BOI application and Pacific Cross Health Insurance expiration to coordinate.  I simply provided a brokerage statement and tax return with my account and social security numbers redacted from the pdf.   I am sure someone could figure out a way to reverse engineer into my account, but I have faith that it would be difficult to access and drain an account with a U.S. brokerage firm.

[pepper402]

I got my new Passport!  USA and it only took 3 weeks expedited.  I sent this email:

 

Dear Sir/Madam,

 

RE:   LTRWP22XXXXXX

 

I have a new Passport #XXXXXXXX.  I tried to  upload my new Passport but cannot change the information on my Application for Qualification Endorsement with my new Passport information.  Please change my application to reflect my new Passport (see attached), issue me a new approval letter with the revised Passport information,  and notify the Thai Embassy/Consulate in Los Angeles so that I can collect an E-Visa.

 

Thank you!!

[K2938]

6 hours ago, Northwest87 said:

I can do the 100K thingy if push comes to shove, but I have data security concerns and I don't like that option.

What are your data security concerns?  That the likelihood of you becoming victim of some criminal activity in Thailand increases if it is known that you are not exactly poor?  Is this not really already known anyway from the fact that as a holder of an LTR visa you must have an annual income of at least 80k USD, so the additional risk from submitting this is rather small?

Edited October 23, 2022 by K2938

[Pib]

9 hours ago, Northwest87 said:

I can do the 100K thingy if push comes to shove, but I have data security concerns and I don't like that option.

 

I understand where you are coming from....I have the same concerns especially when providing certain detailed financial data like found on income tax returns, financial accounts, etc.,   Identity theft can be made easier when the bad guys get detailed data like this....and it could just be enough for them to pull-off an identity theft event.

 

Sure we have all provided copies of this and that at Thai immigration, Thai banks, etc., like copy of your passport, copy of our Thai bank passbooks, and a variety of other stuff as Thai government office and banks are "hooked on paperwork....wants a copy of everything."  Lord knows where all the paper copies end-up.  

 

Whatever financial data I provide during the LTR process will have redactions where I feel uncomfortable (like social security number, bank acct numbers) with certain data being given and will only provide it later if the BOI says "they gotta have an unredacted copy of document so-and-so."   I will just bite the bullet then and submit the unredacted doc.

 

But, yea I understand your concerns....I have them also for some docs.

Edited October 23, 2022 by Pib

[Pib]

Just some "administrative" comments on completing the online application which I started today in earnest. 

 

When you start the a new application a checklist is shows what is "Mandatory and Optional" data/inputs.  Now we know having insurance or 100K USD deposit is mandatory for Wealthy Pension but the checklist shows it as Optional.

 

For the passport upload it begins by saying just upload the "main" page in jpg or pdf file format so it can be OCR'ed.  OK, if doing that it uploads and shows that main page OK.  OK, now I wonder about upload the entire passport which I have in pdf format.  When I select Edit to upload that pdf version I guess it uploads but then the LTR application no longer shows a clear image of my passport main page but just a cartoon type image.

 

For medical insurance since I'm going to try the "social security" benefits type coverage which has no expiration date you still "must" enter some date.  So, for now I will just enter a date 30 years out...hopefully I have 30 years left on my clock

 

Then when I go to the end of the application where you can hit the "Summarize" button which is suppose to show all the data you entered but a lot of the data does not show....like my address does not show.  And although I selected martial status of Married it shows Widowed.  I go back into the application to make sure my address is still entered and I did check the Married vs Widowed block and my address and marital status is correctly shown.  But go back to the Summarize page and it doesn't show or is wrong.  I'll just assume the Summarize is not working/displaying properly.

 

I expect I'll find more administrative/glitches as I continue to complete the application.

 

 

 

 

Edited October 23, 2022 by Pib

[mudcat]

I decided it was wiser not share my widower status with my wife when it appeared in the summarize document.

[ThailandRyan]

Just now, mudcat said:

I decided it was wiser not share my widower status with my wife when it appeared in the summarize document.

Yes that is a known glitch and yes the form never loads properly.  

[keemapoot]

Yes, this 10 month insurance timing is an unnecessary pain in the ass. I have the top global Cigna coverage but it renews annually every calendar year. That means my window to execute the LTR is only once a year coming soon. This does not match my plans right now for returning to Thailand and I am not in the mood to prove up $100k in savings in lieu of insurance.

[ThailandRyan]

28 minutes ago, keemapoot said:

Yes, this 10 month insurance timing is an unnecessary pain in the ass. I have the top global Cigna coverage but it renews annually every calendar year. That means my window to execute the LTR is only once a year coming soon. This does not match my plans right now for returning to Thailand and I am not in the mood to prove up $100k in savings in lieu of insurance.

I wonder if the western Insurance companies and programs we all probably have and are a lifetime medical coverage would be amenable to issuing a letter/certificate to that affect, similar to my pension letter which indicates it is a lifetime pension.  Even though I have my LTRWP I think I might contact Anthem BlueCross worldwide and ask. My HI I have, which is good worldwide but requires up front payment before reimbursement, is supplemented here by the PCH policy which I used for the Visa since it covers from November to November and my Anthem is in its open enrollment period right now and goes from Jan 1st to Drcember 32st making it useless for the LTR Visa unless I obtained it in January, yet my extension of stay I was on expired on November 20th....

[aublumberg]

Three more 'hidden feature' tips, two for before and one for after getting the visa:

 

(1) Whenever you make changes in the main data entry page or any uploads on the document page, go through each individual page one by one click next - next - next - save so that it retains the data input. I noticed (at least early Sep 2022) if you don't follow this then you may lose some of the data input.

 

(2) In the status page there is an acronym for the BOI staff handling your case, it reads e.g. StaffBoI1147. The last four digits are the phone extension of the person handling your case. They are organised by each of the four LTR visa types so in above example you can call the case handling officer under +6622091147 (replace last four digits accordingly). Forget about sending an email to them to check the status. Always call. If they don't pick up then call again until you get through. Super friendly and accommodating and the best communication channel.
 

(3) Once you have the visa and you have status [complete] on the summary page, you can still edit certain parts and you can delete all the documents uploaded. I am quite sure they keep copies of the documents elsewhere in another system but since the application system is internet facing, if you're concerned about the security of your sensitive data then it may be worthwhile to remove the documents. Plus change your password to a new, complex one.

[Pib]

For any of you who used "pension/annuity" letters from the pension payer saying you received X-amount per month/year and these letters meet the 80K USD requirement "Did you also upload your annual tax return or just use the pension letters?"  Was those pension letters enough for the BOI to prove req'd 80K USD income; the BOI didn't require a tax return also?

 

A tax return which may not have even reflected the certain pension amounts partially or even not at all depending on the taxable status of those pensions. 

 

Like one of my U.S. govt pension (VA pension) is 100% non-taxable...no 1099 tax form is provided by the the govt since the pension is non-taxable....non-reportable on the tax return.  And one of my other pensions (Social Security) is only partially taxable which is non-taxable on the tax return....it is reported in a round about way on a tax return worksheet which ends up showing on the taxable amount that is then transferred to the main tax form.

 

When all of this non-taxable/non-reportable pension and tax dust settles a person has a tax return which shows a significantly lower total annual income than what your actual income is.   Tax returns are complicated beasts with the various rules/laws as to what is reportable, what is taxable, etc.  

 

I plan to include a short memo with my pension letters identifying which pension amounts are fully or partially tax free which means they are non-reportable/non taxable on a person's annual return. 

 

Plus, I would rather not submit my tax return for security/identify theft reasons....but if I do have to submit one certain info like SSN will be redacted.  

 

 

Edited October 23, 2022 by Pib

[shdmn]

On 7/9/2022 at 3:59 PM, Northwest87 said:

Because you didn't spend enough time hanging on for dear life from the rear platform of a chock-full 100 km/h speeding songthaew coming and going from/to the local immigration office ????

Nonsense.  They never go that fast. ????

[K2938]

3 hours ago, Pib said:

"Did you also upload your annual tax return or just use the pension letters?" 

The tax return requirement seems pretty silly as truly rich people generally pay very little taxes as they have enough money and options to structure their affairs such that this is the case.  Also, there are enough jurisdictions where certain income types are tax free so somebody could have a huge income while only showing very small taxable earnings and the same person living in two different jurisdictions could have hugely different taxable earnings depending on the local tax laws.

Edited October 23, 2022 by K2938

[Northwest87]

10 hours ago, keemapoot said:

Yes, this 10 month insurance timing is an unnecessary pain in the ass. I have the top global Cigna coverage but it renews annually every calendar year. That means my window to execute the LTR is only once a year coming soon. This does not match my plans right now for returning to Thailand and I am not in the mood to prove up $100k in savings in lieu of insurance.

Same for me; it renews automatically unless I elect to switch carrier; regardless of whether I switch or not, I remain insured. The problem is, my current carrier does not know until after open season if I will be insured with them or not in 2023. I suspect that they will be unwilling to issue any type of letter until open season is over in the middle of December, when they can be assured I am locked in for the coming year.

 

Those successful with the visa have said on this thread that once issued, the visa's validity is its actual date of renewal 5 years hence and there is no "entry to validate the visa" step. If this is correct this could help those like you who have to deal with the 2-months window while planning to enter the country much later in the year.  This is not my case as even if the LTR had only a 3-month validity, it would fit my plans just fine.

 

NW

Edited October 23, 2022 by Northwest87

[Northwest87]

15 hours ago, K2938 said:

What are your data security concerns?  That the likelihood of you becoming victim of some criminal activity in Thailand increases if it is known that you are not exactly poor?  Is this not really already known anyway from the fact that as a holder of an LTR visa you must have an annual income of at least 80k USD, so the additional risk from submitting this is rather small?

This is not my main concern. Based on my professional and personal experience in the US however, I have very good reasons to be paranoid with my data, and you should too. It comes down to the principle of giving it sparingly and only when you really need to give it.

[Northwest87]

10 hours ago, ThailandRyan said:

I wonder if the western Insurance companies and programs we all probably have and are a lifetime medical coverage would be amenable to issuing a letter/certificate to that affect, similar to my pension letter which indicates it is a lifetime pension.  Even though I have my LTRWP I think I might contact Anthem BlueCross worldwide and ask. My HI I have, which is good worldwide but requires up front payment before reimbursement, is supplemented here by the PCH policy which I used for the Visa since it covers from November to November and my Anthem is in its open enrollment period right now and goes from Jan 1st to Drcember 32st making it useless for the LTR Visa unless I obtained it in January, yet my extension of stay I was on expired on November 20th....

Yes, but if your open enrollment for 2023 is now and you lock it in, Blue Cross might be willing to issue a document. I'm in a similar situation with nov12-dec12 open season. As I understand it, as long as you get your BOI letter of endorsement and you move fast to get your visa issued before the end of February (count 3 weeks to be conservative with the issuance), you can squeak by. The fly on the ointment is to first get the official insurance letter with an expiration date on it.

Edited October 23, 2022 by Northwest87

[Northwest87]

6 hours ago, shdmn said:

Nonsense.  They never go that fast. ????

True. But when you're standing on that rear platform on the open highway for 25mns, hoping for no brutal braking or large pothole, it sure feels like it... ????