LTR Visa is Now available for Long Term Residency

[Pib]

13 hours ago, TravelerEastWest said:

 

My friend actually didn't tell me if he got a receipt but after looking at an example from this thread of the one year form he said that one looks better...

Not at all sure what your post means...especially the ".....he said that one looks better...." part.

 

If he got a receipt it will show whether he got a 90 day or 365 day "next report date."  If he did it online but maybe lost the receipt he can logon today and print out the receipt again.   Like when I was still on a Non-O type visa (before getting my LTR visa) I used the online reporting system to do my 90 day address reports.   Now I had low success with it because 60% of my report were rejected for unknown reasons but the ones that were approved include a receipt telling me it was approved and when my next report is due...and those receipts can be download/viewed long after they have come and gone....like I just viewed my 17 May 2022 report from almost 2 years ago.

 

Yea, maybe your friend was successful in doing an online report for this LTR 365 day address report but it goes against what immigration has said that LTR address reporting has "yet to come....but hopefully soon."    Plus no one else has posted, at least in this thread, that they have successfully accomplished their LTR 365 day address report online.  

 

[TravelerEastWest]

8 hours ago, Misty said:

 

Yes, I found phone calls to the LTR unit to be invaluable, also in-person visits when all else failed.  If you call, be prepared for long wait times, so have something to do or read while you wait. You'll probably first get the BOI switchboard and get put on hold.  Ask for the LTR unit, and you'll probably get put on hold again.  But once you get someone at the LTR unit, they'll be able to look up your case by the "DOC number" which if it's a digital work permit that you applied for this year, starts out "LTRDWP2401..."   Hope it goes well and you get your appointment!

Misty

 

Thank you for your help - I have appointments available now! I am in Chiang Mai so I have to try for 11am unless I get up at 5am... for an early flight...

[TravelerEastWest]

5 hours ago, Pib said:

Not at all sure what your post means...especially the ".....he said that one looks better...." part.

 

If he got a receipt it will show whether he got a 90 day or 365 day "next report date."  If he did it online but maybe lost the receipt he can logon today and print out the receipt again.   Like when I was still on a Non-O type visa (before getting my LTR visa) I used the online reporting system to do my 90 day address reports.   Now I had low success with it because 60% of my report were rejected for unknown reasons but the ones that were approved include a receipt telling me it was approved and when my next report is due...and those receipts can be download/viewed long after they have come and gone....like I just viewed my 17 May 2022 report from almost 2 years ago.

 

Yea, maybe your friend was successful in doing an online report for this LTR 365 day address report but it goes against what immigration has said that LTR address reporting has "yet to come....but hopefully soon."    Plus no one else has posted, at least in this thread, that they have successfully accomplished their LTR 365 day address report online.  

 

 

My friend liked the one from this thread better than the one he filled out - I sent him an email with a copy of the one from this thread - not sure I think it was form 95?

 

Two possibilities:

 

1) The form he filled out won't work and they will tell him at some point - not a big problem.

 

or

 

2) He filled out the wrong form but they said mai pen rai and accepted it... Note it was not rejected.

 

i think number 2

[oldcpu]

On 1/29/2024 at 3:49 PM, mrmagyar said:

Has anyone with an LTR visa (Wealthy Pensioner, Wealthy Citizen or WFT) bothered to get a Thai tax ID?

 

I understand that there are no Thai tax obligations with these visas but wondered if anyone had got the tax ID and filed proactively, or planned to do so?

 

I have an LTR-WP, and I have not made any special effort to get a Thai tax ID - nor have I filed a Thai tax return.

 

Details:

 

As part of my application for the LTR-WP, I ended up having to show an investment of $250K US$ equivalent in Condo.  Since both my name and my wife's name is on my Thai condo deed, I could only use 1/2 of my condo purchase price toward my $250K US$ equivalent (for an investment in Thailand).  So I ended up buying 2-million THB in Thai government bonds to put me over the $250K US$ investment (with some margin).

 

As part of the Thai bond application, in the online application system being used by Bangkok Bank, they had to enter a tax-ID, else the application for the bond would fail.   

 

I pointed out to them they had been taking a 'withholding' tax from my Thai bank account for years (from interest my Thai account earned), and I asked what Tax ID they used for that?  I only received 'blank stares'.    

 

In Thailand, I am told the # on Thai people's ID cards, is also their tax ID.  So my Thai wife suggested to the bank that the bank use the number on my Thai "pink-ID" for the "Tax-ID" column.  They entered that, and their computer accepted that.

 

Having typed that, I doubt that the "pink-ID' is the "Tax-ID" for a foreigner, and I too am waiting to see whether as time passes if I will eventually end up getting a tax ID.

 

At present, I do not plan to file a Thai tax return, (as my Thai income (ie income in Thailand) is less than the level necessary for filing a Thai tax return, but things can change - so I also am curious to learn here.

Edited February 1 by oldcpu

[mudcat]

My pink ID and tax ID use the same number.  RD and Amphiur are on the same office floor but the ID was issued two tears prior to the tax ID and I am sure I presented the ID to the RD ladies.

[White Rabbit]

Just to double-check - I have an LTR retiree visa - grateful for that. Now, if I travel outside Thailand at least once within a year’s time I never have to do the one year reporting? Is that correct?
Actually I’m probably traveling abroad 3-4 times a year. And I’m also registered online with immigration on the same address as my yellow book states. Thanks for all feedback. 

[Pib]

16 minutes ago, White Rabbit said:

Just to double-check - I have an LTR retiree visa - grateful for that. Now, if I travel outside Thailand at least once within a year’s time I never have to do the one year reporting? Is that correct?
Actually I’m probably traveling abroad 3-4 times a year. And I’m also registered online with immigration on the same address as my yellow book states. Thanks for all feedback. 

Correct.  The 1 year reporting resets to zero upon leavng Thailand and doesn't start ticking again until you reenter Thailand.  Continue travelling like you are now and a 1 year address report will never be required.

[TravelerEastWest]

I was at the BOI office and after I got my digital visa i asked about forms for teh annual report

 

1) Form 95 can be filed at any immigration office

 

2) 90 day reports can still be filed - not a problem

 

He wasn't sure about using the mail.

 

 

[John207]

Hi there, the other LTR threads seems to have been abandoned hence me posting my question in here. Hope people don't mind even though it's not relevant to the OP. I've recently flown from Suvarnabhumi to Phnom Penh with a cheap airliner and I've shown the LTR visa to the lady at the desk asking for a fast track voucher but she said couldn't help me with that. Does anybody know how to get through the fast track security with an economy ticket and without a voucher? Thanks

[SHA 2 BKK]

4 hours ago, John207 said:

Hi there, the other LTR threads seems to have been abandoned hence me posting my question in here. Hope people don't mind even though it's not relevant to the OP. I've recently flown from Suvarnabhumi to Phnom Penh with a cheap airliner and I've shown the LTR visa to the lady at the desk asking for a fast track voucher but she said couldn't help me with that. Does anybody know how to get through the fast track security with an economy ticket and without a voucher? Thanks

Yes for arrivals  just go to the “Fast Track” section which is after the main immigration area.  Next to where the Chinese used to get their Visa On Arrival.  
 

There is a sign from memory that is in blue and white that says Fast Track.  Show your LTR Visa to the guard in front and you are in.   No need for any voucher.   
 

There is the odd guard who still doesn’t know what and LTR Visa is but you can point to it on the blue and white letter board.   Thailand Elite also use this point. 
 

For departures look for Fast Track again after you check in.  Don’t go up the escalators.  They are on the check in floor (I think there are two).  Show the guards your LTR - again no need for a voucher.  
 

Hope this helps and safe travels. 

[John207]

Thanks so much SHA 2 BKK, just what I needed to know!

[TravelerEastWest]

Does the LTR visa speed up domestic flights?

[SHA 2 BKK]

16 hours ago, TravelerEastWest said:

Does the LTR visa speed up domestic flights?

I don’t think so.  When I fly domestic is usually use my Thai Drivers Licence.  But I’ve never seen a special queue for LTR Visa. 

[TravelerEastWest]

For international flights when traveling with a Thai family member any special ways to stay together and move quickly?

[SHA 2 BKK]

26 minutes ago, TravelerEastWest said:

For international flights when traveling with a Thai family member any special ways to stay together and move quickly?

Just tell the guard at the front of the Fast Track line they are your family.  I’ve never had problem with us all going in together.  

[TravelerEastWest]

5 hours ago, SHA 2 BKK said:

Just tell the guard at the front of the Fast Track line they are your family.  I’ve never had problem with us all going in together.  

Thank you

[Berti]

Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?

 

- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?

 

- 80,000.- before or after tax?

 

- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?

 

- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?

[SHA 2 BKK]

2 hours ago, Berti said:

Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?

 

- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?

 

- 80,000.- before or after tax?

 

- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?

 

- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?

Hope this helps. I only showed one Australian Tax Return.  $US80k before tax.  My pension money is deposited outside Thailand in Australia.  This checked 5 years after the initial issuance of the Visa so that you can get another 5 years.  
 

I would imagine a yearly payment of $US 80k is ok. 
 

The team at the LTR BOI are great and I would suggest you email them or if in BKK pay them at visit at Chamchuri Square. 

[Pib]

2 hours ago, Berti said:

Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?

 

- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?

 

- 80,000.- before or after tax?

 

- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?

 

- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?

 

After you qualify for the 10 year visa there are no annual checks although when you have to reapply at the 5 year point (mid term) to get the 2nd 5 year Permitted to Stay stamp you will basically need to meet the same income requirements that you did when initially qualifying for the LTR visa. 

 

Now it is still unknown at this time if at the mid-term term if BOI/Immigration will require you to prove you met income/insurance requirements for the past 5 years (i.e, your 1st 5 year Permitted to Stay period) or if they will just look at one or two years like when initially qualifying.    I'm guessing it going to be the latter unless they feel a person is trying to game the system.

 

The 80K requirement is "gross" pay (before taxes, deductions, etc).

 

None of the 80K needs to be sent/maintained in Thailand...you can leave it all in another country if desired....or split it between Thailand and another country (ies).    You just need to prove you have the funds somewhere on planet Earth.  

 

If your pension/annuity is only distributed on an annual basis that one each annual payment should be fine.....monthly, quarterly, semi-annually, or annually....the key is it just has to occur each and ever year and be able to prove it.   No skipping a year where you didn't have at least 80K in qualifying income.  You will need to prove the payment is coming from some pension/annuity paying entity (like a statement/benefit letter/etc) versus you or a family member/friend sending you money trying to game the system.     And of course they probably be asking for a copy of your tax return where that pension/annuity might be reported "if" it's a reportable/taxable pension/annuity...tax returns usually provide a secondary form of proof regarding income.

 

Unless something has recently changed the BoI responds/answers questions pretty quick when you send them a Contact inquiry/question....like within a few days or less.  Much, much faster response time than the first six months of the LTR program in late 2022 when they were overwhelmed with applications/questions.    https://ltr.boi.go.th/index.html#contact

 

Good luck.

 

 

 

 

 

[K2938]

5 hours ago, Pib said:

After you qualify for the 10 year visa there are no annual checks although when you have to reapply at the 5 year point (mid term) to get the 2nd 5 year Permitted to Stay stamp you will basically need to meet the same income requirements that you did when initially qualifying for the LTR visa. 

 

Now it is still unknown at this time if at the mid-term term if BOI/Immigration will require you to prove you met income/insurance requirements for the past 5 years (i.e, your 1st 5 year Permitted to Stay period) or if they will just look at one or two years like when initially qualifying.    I'm guessing it going to be the latter unless they feel a person is trying to game the system.

 

The 80K requirement is "gross" pay (before taxes, deductions, etc).

 

None of the 80K needs to be sent/maintained in Thailand...you can leave it all in another country if desired....or split it between Thailand and another country (ies).    You just need to prove you have the funds somewhere on planet Earth.  

 

If your pension/annuity is only distributed on an annual basis that one each annual payment should be fine.....monthly, quarterly, semi-annually, or annually....the key is it just has to occur each and ever year and be able to prove it.   No skipping a year where you didn't have at least 80K in qualifying income.  You will need to prove the payment is coming from some pension/annuity paying entity (like a statement/benefit letter/etc) versus you or a family member/friend sending you money trying to game the system.     And of course they probably be asking for a copy of your tax return where that pension/annuity might be reported "if" it's a reportable/taxable pension/annuity...tax returns usually provide a secondary form of proof regarding income.

 

Unless something has recently changed the BoI responds/answers questions pretty quick when you send them a Contact inquiry/question....like within a few days or less.  Much, much faster response time than the first six months of the LTR program in late 2022 when they were overwhelmed with applications/questions.    https://ltr.boi.go.th/index.html#contact

 

Good luck.

Maybe worthwhile to add that if your 80k USD or a significant part of this comes from non-recurring things like capital gains, one-time distributions or payments from your own company, then things might get difficult.

Edited February 11 by K2938

[Dan SG]

On 2/1/2024 at 2:52 PM, oldcpu said:

As part of my application for the LTR-WP, I ended up having to show an investment of $250K US$ equivalent in Condo.  Since both my name and my wife's name is on my Thai condo deed, I could only use 1/2 of my condo purchase price toward my $250K US$ equivalent (for an investment in Thailand).  So I ended up buying 2-million THB in Thai government bonds to put me over the $250K US$ investment (with some margin).

 

As part of the Thai bond application, in the online application system being used by Bangkok Bank, they had to enter a tax-ID, else the application for the bond would fail.

Hi, I need to do exactly this too - I see that you are in Phuket (I'm bkk based) but was there a special unit in Bangkok bank you spoke to....I can't seem to get hold of anyone that has any familiarity with how to purchase these bonds for foreigners.....I have a thai tax id which it seems could help the process.

[Berti]

10 hours ago, K2938 said:

Maybe worthwhile to add that if your 80k USD or a significant part of this comes from non-recurring things like capital gains, one-time distributions or payments from your own company, then things might get difficult.

 

This is new information for me. They clearly explain that is must be "unearned income such as pension, rental, capital gain, dividend, etc.".

"SUCH AS" this sounds like there is no difference which of these you get.

 

I am above 50, don't have an "official" pension yet, but dividends above 80,000.- from a company where I own shares. Looks like I meet the requirements but still don't qualify?

[MPoll]

Regarding the new tax rules and the LTR visa

 

There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.  

[Dan SG]

3 minutes ago, MPoll said:

Regarding the new tax rules and the LTR visa

 

There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.  

Yes this is what I've managed to establish too.  If you qualify this is a massive perk in my opinion.  Yes the threshold is high but potentially this means you can put your money into offshore accounts / bonds accrue gross and it not being taxed anywhere! Of course if your money is tied up in things like property you're still going to be taxed where the property is.....but personally I think the opportunity to receive gross is much better than earning net rental income.....especially if your in UK property like I am / was......absolute headache these days, all the power to the tenant....and leaches in the system - agents, tradesman, the council....you name it!

[SHA 2 BKK]

46 minutes ago, MPoll said:

Regarding the new tax rules and the LTR visa

 

There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.  

Great update and much appreciated. 

[MPoll]

I do pay US taxes on my pension income in the US but my tax rate is way below the 35% I would be subject to in Thailand. This unexpected windfall associated with my LTR is much appreciated.

[Pib]

13 hours ago, K2938 said:

Maybe worthwhile to add that if your 80k USD or a significant part of this comes from non-recurring things like capital gains, one-time distributions or payments from your own company, then things might get difficult.

 

3 hours ago, Berti said:

 

This is new information for me. They clearly explain that is must be "unearned income such as pension, rental, capital gain, dividend, etc.".

"SUCH AS" this sounds like there is no difference which of these you get.

 

I am above 50, don't have an "official" pension yet, but dividends above 80,000.- from a company where I own shares. Looks like I meet the requirements but still don't qualify?

 

As Berti said, Cap Gains qualifies as pension/fixed income under the LTR Pensioner category because BOI considers it "unearned" income vs "earned" income/salary from employment.    Unearned income is basically any income you receive that is not from employment.   Yes, a pension is income from "past" employment but it's not income/salary from "current" employment....still working for a living, etc. 

 

Additionally it's common for folks with large investments in mutual funds to have those periodic dividends and/or cap gains  distributed/paid out annually vs reinvested in the fund.   BOI considers this unearned income since it not coming from employment/salary.   

 

So, if a person's $80K of personal/unearned income comes for "cap gains" then they meet the income requirement.    But as I mentioned before since Cap Gains can vary greatly from year-to-year depending on how the stock market varies a person needs to ensure he can show $80K "each and every year; not just say every other year, an average over a couple of years, etc."

 

 

 

[Yumthai]

35 minutes ago, Pib said:

As Berti said, Cap Gains qualifies as pension/fixed income under the LTR Pensioner category because BOI considers it "unearned" income vs "earned" income/salary from employment.    Unearned income is basically any income you receive that is not from employment.   Yes, a pension is income from "past" employment but it's not income/salary from "current" employment....still working for a living, etc. 

 

Additionally it's common for folks with large investments in mutual funds to have those periodic dividends and/or cap gains  distributed/paid out annually vs reinvested in the fund.   BOI considers this unearned income since it not coming from employment/salary.   

 

So, if a person's $80K of personal/unearned income comes for "cap gains" then they meet the income requirement.    But as I mentioned before since Cap Gains can vary greatly from year-to-year depending on how the stock market varies a person needs to ensure he can show $80K "each and every year; not just say every other year, an average over a couple of years, etc."

 

If someone can show one or several stock sales totaling an amount of at least $80K in a calendar year during the past 2 years, will this individual meet the BOI LTR Wealthy Pensioners Visa income requirements?

 

Edited February 12 by Yumthai

[Pib]

3 minutes ago, Yumthai said:

 

If someone can show one or several stock sales totaling an amount of at least $80K in a calendar year during the past 2 years, will this individual meet the BOI LTR Wealthy Pensioners Visa income requirements?

 

Probably not because a sale can be different from a cap gain.  A cap gain is a profit from an investment; a stock sale may have been at a loss; therefore, no cap gain to show--just a loss.   BOI would probably need to see the balance of your pot of money "after" you made those stock sales to see if that pot is still larger enough cover a 10 years worth of $80K/year sells since an LTR visa is  10 year visa.

 

And a stock sale or two may have completely drained your pot of investment money...Living high-on-the-hog from some stock sales for a year or two but those sales may have completely drained your pot of money and you no longer can show $80K/year in personal/unearned income.

 

 

[Yumthai]

24 minutes ago, Pib said:

Probably not because a sale can be different from a cap gain.  A cap gain is a profit from an investment; a stock sale may have been at a loss; therefore, no cap gain to show--just a loss.   BOI would probably need to see the balance of your pot of money "after" you made those stock sales to see if that pot is still larger enough cover a 10 years worth of $80K/year sells since an LTR visa is  10 year visa.

 

And a stock sale or two may have completely drained your pot of investment money...Living high-on-the-hog from some stock sales for a year or two but those sales may have completely drained your pot of money and you no longer can show $80K/year in personal/unearned income.

OK, so what does BOI mean when they mention capital gain as unearned income?

Could you make few examples of an asset capital gain that will be accepted by BOI?