LTR Visa is Now available for Long Term Residency

[Middle Aged Grouch]

LTR is absolutely not worth applying considering all the bureaucratic hassle, all the absurd documents they ask day to day or invent and the fact that every year one has to show all the updated absurd documents for insurance etc asked and thus making this LTR definately not a hassle free for 10 years. In fact one pays a hefty amount just to be harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting). Your conception of annual reporting seems to widely change from when they ask for the reporting even if you show up after one calender year. Don't waste time in submitting as you will go through lots of hassle, and each time further documents will be asked on absurd grounds. Definately not worth the money and trip. In fact if you can, look at other countries in Asia for a retirement visa if you plan just to stay in winter.  Forget Thailand, no more worth it with all the absurd red tape and the possiblity that they will tax your foreign pension or at best require to file all kinds of paperwork and thus one will just be speinding the entire stay running back and forth for getting all their paperwork done.

[SHA 2 BKK]

6 minutes ago, Middle Aged Grouch said:

LTR is absolutely not worth applying considering all the bureaucratic hassle, all the absurd documents they ask day to day or invent and the fact that every year one has to show all the updated absurd documents for insurance etc asked and thus making this LTR definately not a hassle free for 10 years. In fact one pays a hefty amount just to be harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting). Your conception of annual reporting seems to widely change from when they ask for the reporting even if you show up after one calender year. Don't waste time in submitting as you will go through lots of hassle, and each time further documents will be asked on absurd grounds. Definately not worth the money and trip. In fact if you can, look at other countries in Asia for a retirement visa if you plan just to stay in winter.  Forget Thailand, no more worth it with all the absurd red tape and the possiblity that they will tax your foreign pension or at best require to file all kinds of paperwork and thus one will just be speinding the entire stay running back and forth for getting all their paperwork done.

Wrong on so many counts but hey whatever floats your boat mate.  

[JimGant]

1 hour ago, Middle Aged Grouch said:

LTR is absolutely not worth applying considering all the bureaucratic hassle, all the absurd documents they ask day to day or invent and the fact that every year one has to show all the updated absurd documents for insurance etc asked and thus making this LTR definately not a hassle free for 10 years.

Does this mean we'll not enjoy your sage wisdom at our annual black tie get-togethers? Don't know whether to cry or puke....

[JohnnyBD]

11 hours ago, SHA 2 BKK said:

“Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be
exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-
from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for
assessable income under section 40 of the Revenue Code derived in the previous tax year from
an employment, or from business carried on abroad, or from a property situated abroad, and
brought into Thailand.”

 

So as long as its previous years income you are pretty much covered.

Thanks for posting. Just to clarify, I assume "previous years income" means if I get a LTR WP in 2025, then 2024's income is exempt, and 2025, and future years too. Is that correct?  Also, I don't see anything about company pensions, stock dividends, bank interest or capital gains from abroad in the decree. Maybe it's spelled out in more detail in Sec 40 of the Revenue Code. I will try to research Sec 40. If you get time, can you please elaborate on those different income streams, whether they are exempt also. Thanks for your reply.

Edited May 7 by JohnnyBD

[SHA 2 BKK]

21 minutes ago, JohnnyBD said:

Thanks for posting. Just to clarify, I assume "previous years income" means if I get a LTR WP in 2025, then 2024's income is exempt, and 2025, and future years too. Is that correct?  Also, I don't see anything about company pensions, stock dividends, bank interest or capital gains from abroad in the decree. Maybe it's spelled out in more detail in Sec 40 of the Revenue Code. I will try to research Sec 40. If you get time, can you please elaborate on those different income streams, whether they are exempt also. Thanks for your reply.

1.  Yes it is my understanding that if you get your LTR WP in 2025 and remit 2024 income it is free of Thai Tax.  2025 income would be tax free in 2026.   But as with all tax comments here you may need to seek independent advice.  I am neither a tax planner/lawyer et al - but given the way the Decree is written and advice I (and others) have had from the BOI, if you got an LTR Visa next year, any income from this and previous years remitted to Thailand is tax free.

 

2. Following is the whole of Section 40 in from the Thai RD.  It mentions income from Pensions, Stocks, Bank Interest and Capital Gains (but those of a Juristic Person or Company - if it was an individual Capital Gain, I think you would easily argue you are a Juristic Person in the sense that that you held the Capital that received the gain).   It seems to be a pretty broad brush and thus would exempt any income that I personally would earn if I remitted in a following year.

 

Hope this helps.

 

"Section 40 Assessable income is income of the following categories including any amount of tax paid by the payer of income or by any other person on behalf of a taxpayer.

(1) Income derived from employment, whether in the form of salary, wage, per diem, bonus, bounty, gratuity, pension, house rent allowance, monetary value of rent-free residence provided by an employer, payment of debt liability of an employee made by an employer, or any money, property or benefit derived from employment.⁴

⁴R.CT.No.29/2538

(2) Income derived from a post or from performance of work, whether in the form of fee, commission, discount, subsidy, meeting allowance, gratuity, bonus, house rent allowance, monetary value of rent-free residence provided by a payer of income, payment of debt liability of a taxpayer made by a payer of income, or any money, property or benefit derived from a post or from performance of work, whether such post or performance of work is permanent or temporary.

(3) Fee of goodwill, copyright or any other rights, annuity or annual payment of income derived from a will, any other juristic act, or court decision.

(4) Income that is:

(a) Interest on a bond, deposit, debenture, bill, loan whether with or without security, the part of interest on loan after deduction of withholding tax under the law governing petroleum income tax, or the difference between the redemption value and the selling price of a bill or a debt instrument issued by a company or juristic partnership or by any other juristic person and sold for the first time at a price below its redemption value. Such income also includes income assimilated to interest, benefit or other consideration derived from the provision of a loan or from a debt-claim of every kind whether with or without security. ⁵

⁵M.R.No.126 Clause 2 (30) R.CT.No.30/2538

(b) Dividend, share of profits or any other gain derived from a company or juristic partnership, a mutual fund or a financial institution established under a specific law in Thailand for the purpose of providing a loan in order to promote agriculture, commerce or industry; the part of dividend or share of profits after deduction of withholding tax under the law governing petroleum income tax.

For the purpose of income calculation under paragraph 1, if a lawful child who is a minor derives income and the marital status of the parents exists throughout the tax year, the income of the child shall be treated as income of the father. However, if the marital status of the parents does not exist throughout tax year, the income of the child shall be treated as income of the parent who exercises parental power, or of the father if both parents jointly exercise parental power.

The provisions of paragraph 2 shall apply mutatis mutandis to an adopted child who is a minor deriving income.

(c) bonus paid to a shareholder or partner of a company or juristic partnership;

(d) a decrease of the capital holdings in a company or juristic partnership which does not exceed the total amount of profits and reserves;

(e) an increase of capital holdings in a company or juristic partnership that is determined from the total amount of profits or reserves;

(f) a benefit derived from the amalgamation, acquisition or dissolution of a company or juristic partnership and having the monetary value which exceeds the capital;

(g) gains derived from transfer of partnership holdings or shares, debentures, bonds, or bills or debt instruments issued by a company or juristic partnership or by any other juristic person.⁶

⁶M.R.No.126 Clause 2 (30)

(5) Money or any other gain derived from:

(a) rent of property,

(b) breach of a hire-purchase contract,

(c) breach of an installment sale contract, where the seller regains the property sold without paying back the money or gains already received.

In the case of (a), if an assessment official has reason to believe that the taxpayer underreports the amount of income, he shall have the power to assess the income according to the reasonable rent of property under normal circumstances, and the amount so assessed shall be deemed assessable income of the taxpayer. In such case, the taxpayer may appeal against the assessment and shall apply the provisions on appeals under Part 2, Chapter 2, Title 2 mutatis mutandis.

In the case of (b) and (c), all the money and gains received from the date of entering into contract to the date of breaching the contract shall be deemed assessable income of the year of which the contract is breached.

(6) Income from liberal professions, namely, laws, arts of healing, engineering, architecture, accounting, fine arts or other liberal professions as prescribed by a Royal Decree;

(7) Income derived from a contract of work where the contractor has to provide essential materials besides tools;

(8) Income from business, commerce, agriculture, industry, transport or any other activity not specified in (1) - (7).

The amount of tax under paragraph 1, which is paid for by the payer of income or by any other person on behalf of taxpayer on any category of income or in whichever tax year, shall be treated as income of the same category and of the same tax year as the income where payment of tax is made."

[Ben Zioner]

2 hours ago, Middle Aged Grouch said:

In fact one pays a hefty amount just to be harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting).

This sentence shows that you don't know what you are talking about. Being away at the time of doing an annual report exempts you from doing it. Even when you like prior to that deadline it resets the clock to 12 months after your reentry. You'd better shut up and do some some reading.

Edited May 7 by Ben Zioner

[JohnnyBD]

39 minutes ago, SHA 2 BKK said:

1.  Yes it is my understanding that if you get your LTR WP in 2025 and remit 2024 income it is free of Thai Tax.  2025 income would be tax free in 2026. 

What if a LTR WP visa holder remitted 2025 income in 2025, would that be exempt also? Just trying to clarify the previous years income rule. I wouldn't want to make a big mistake. Thanks again for your reply.

[oldcpu]

19 hours ago, sabaiguy said:

 I won't be a "Wealthy Pensioner" until next week when I have my appointment.

 

 

Best wishes in obtaining your LTR-WP.

.

[1tent42]

Hello all, 

 

Can someone confirm that one can download the LTR e-visa at the Thai e-Visa website?

 

I can’t seem to click on the download icon for what I assume is the e-visa copy (found at main dashboard, View All Applications link, then Available link).

 

Thanks!

 

 

[SHA 2 BKK]

10 hours ago, JohnnyBD said:

What if a LTR WP visa holder remitted 2025 income in 2025, would that be exempt also? Just trying to clarify the previous years income rule. I wouldn't want to make a big mistake. Thanks again for your reply.

My understanding is that income remitted in the same year it was earned would have to be declared and be taxable.  Basically the old rules that everyone who stayed in the Kingdom for 180 days or longer were supposed to follow but very few did.  
 

LTR Visa holders have basically been “Grandfathered” the old rules.  

[mudcat]

After the immediately above back and forth I reached out to the BOI to see if I could get some clarification - you situation may be different so I would recommend that you address BOI directly and copy their response to you here for everyone's benefit.

 

ส่ง: 8 พฤษภาคม 2567 9:39:07
ถึง: ltr(at)boi.go.th
ชื่อเรื่อง: Clarification on Royal Decree's Section 5 treatment of Pension and Social Security

 

Good morning.

 

I hold LTR-WP Visa xxx/65.  There is a discussion in the LTR topic on AseanNow forum about the treatment of current year 'income' under the Royal Decree that could use a clarifying statement from the BOI rather than the speculations from some of the more excitable participants in the discussion.  

 

Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment, or from business carried on abroad, or from a property situated abroad, and brought into Thailand.

 

A plain reading of Section 5 leaves current year income from employment, business, or property situated abroad subject to Thailand's Personal Income Tax when remitted.  However, it is difficult to understand whether the term 'property' in this section includes savings and investments (particularly private retirement plans or IRAs), Social Security, or government private pensions as these were 'earned' in prior years (in many cases, many years prior) but are 'paid' in the current year.   

 

Can you work with the Revenue Department to provide further guidance beyond their Notification No. 427 of August 2022 on the tax status of prior year earnings remitted in the current year.   

--

  Their response re savings and investments (particularly private retirement plans or IRAs), Social Security, or government private pensions as these were 'earned' in prior years (in many cases, many years prior) but are 'paid' in the current year

 

Dear Stephen,

Greetings from the LTR Visa Unit.   To clarify the overseas tax exemption under the three mentioned categories, you will begin to benefit the moment you hold the LTR Visa.   For instance, if you obtain the LTR Visa on January 1, 2024, and transfer income on January 5, 2024, that income will be exempt from tax. However, income transferred into Thailand before January 1, 2024, or before officially obtaining the LTR Visa will still be subject to regular taxation.   This tax exemption only applies to income transferred into Thailand. Savings that are already in Thailand and properties are not included, nor are personal effects transferred into Thailand, as these are considered properties rather than income or cash transferred from overseas banks into Thai banks.

Kind regards, LTR Visa Unit

 

 

 

[JohnnyBD]

52 minutes ago, mudcat said:

After the immediately above back and forth I reached out to the BOI to see if I could get some clarification - you situation may be different so I would recommend that you address BOI directly and copy their response to you here for everyone's benefit.

 

ส่ง: 8 พฤษภาคม 2567 9:39:07
ถึง: ltr(at)boi.go.th
ชื่อเรื่อง: Clarification on Royal Decree's Section 5 treatment of Pension and Social Security

 

Good morning.

 

I hold LTR-WP Visa xxx/65.  There is a discussion in the LTR topic on AseanNow forum about the treatment of current year 'income' under the Royal Decree that could use a clarifying statement from the BOI rather than the speculations from some of the more excitable participants in the discussion.  

 

Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment, or from business carried on abroad, or from a property situated abroad, and brought into Thailand.

 

A plain reading of Section 5 leaves current year income from employment, business, or property situated abroad subject to Thailand's Personal Income Tax when remitted.  However, it is difficult to understand whether the term 'property' in this section includes savings and investments (particularly private retirement plans or IRAs), Social Security, or government private pensions as these were 'earned' in prior years (in many cases, many years prior) but are 'paid' in the current year.   

 

Can you work with the Revenue Department to provide further guidance beyond their Notification No. 427 of August 2022 on the tax status of prior year earnings remitted in the current year.   

--

  Their response re savings and investments (particularly private retirement plans or IRAs), Social Security, or government private pensions as these were 'earned' in prior years (in many cases, many years prior) but are 'paid' in the current year

 

Dear Stephen,

Greetings from the LTR Visa Unit.   To clarify the overseas tax exemption under the three mentioned categories, you will begin to benefit the moment you hold the LTR Visa.   For instance, if you obtain the LTR Visa on January 1, 2024, and transfer income on January 5, 2024, that income will be exempt from tax. However, income transferred into Thailand before January 1, 2024, or before officially obtaining the LTR Visa will still be subject to regular taxation.   This tax exemption only applies to income transferred into Thailand. Savings that are already in Thailand and properties are not included, nor are personal effects transferred into Thailand, as these are considered properties rather than income or cash transferred from overseas banks into Thai banks.

Kind regards, LTR Visa Unit

 

 

 

The only problem I see with their reply is that is still a little ambiguous. It states that income under the 3 mentioned categories (employment, business or property situated abroad), will be exempt from tax when that income is remitted into Thailand if you already have the LTR visa. It was not specific enough to say all income and monies from all sources such as; company pension, annuities, stock dividends, bank interest, 401ks, IRAs, rental income, capital gains, etc. It would have been very nice if they would have just said all income and/or monies transferred into Thailand is exempt from taxes, period. But, no official seems to want to be that specific.

Edited May 8 by JohnnyBD
added capital gains

[Sigmund]

22 hours ago, JimGant said:

Does this mean we'll not enjoy your sage wisdom at our annual black tie get-togethers? Don't know whether to cry or puke....

Wait till they start asking you each year the documents to "maintain" the visa and make you go through all the hassle again with the risk of cancelling it.

[JohnnyBD]

I am seriously thinking about getting a LTR visa, but would like to know if all income and/or monies remitted to Thailand is tax exempt. Some of the responses from BOI seem to be a little ambiguous as to what monies are tax exempt and if any are not.

 

Would someone with a LTR visa be so kind as to please email the LTR Visa Unit or BOI and ask them if all monies remitted to Thailand is tax exempt, specifically, monies such as; company pension, annuities, stock dividends, bank interest, 401ks, IRAs, rental income, capital gains, etc.

 

It would very nice if someone with authority would put it in writing to clear up what monies are tax exempt and what monies are not, if some are not.

Edited May 8 by JohnnyBD
typo

[Sigmund]

On 5/7/2024 at 12:46 PM, SHA 2 BKK said:

Wrong on so many counts but hey whatever floats your boat mate.  

Wait till the tax catch up on you no matter what is said as rules change.

[SingAPorn]

23 hours ago, JimGant said:

Does this mean we'll not enjoy your sage wisdom at our annual black tie get-togethers? Don't know whether to cry or puke....

Most who put on the Thai-cut suit and black tie in Thailand,  are definately not the big shots. The genuine black ties are in Monaco, St-Tropez or Geneva and not boastin around if I may !!

[SingAPorn]

On 5/7/2024 at 12:38 PM, Middle Aged Grouch said:

LTR is absolutely not worth applying considering all the bureaucratic hassle, all the absurd documents they ask day to day or invent and the fact that every year one has to show all the updated absurd documents for insurance etc asked and thus making this LTR definately not a hassle free for 10 years. In fact one pays a hefty amount just to be harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting). Your conception of annual reporting seems to widely change from when they ask for the reporting even if you show up after one calender year. Don't waste time in submitting as you will go through lots of hassle, and each time further documents will be asked on absurd grounds. Definately not worth the money and trip. In fact if you can, look at other countries in Asia for a retirement visa if you plan just to stay in winter.  Forget Thailand, no more worth it with all the absurd red tape and the possiblity that they will tax your foreign pension or at best require to file all kinds of paperwork and thus one will just be speinding the entire stay running back and forth for getting all their paperwork done.

Not very clear on how immigration will start making their annual checks for LTR visa holders to see if they still qualify and to "maintain" the LTR. With the risk of having the visa unfairly cancelled. Not to mention the postings read on the annual reporting and some immigration refusing to consider the report and asking the ltr holder to come back in 60 days. What if one has planned to leave when the ask to come back ?

[Misty]

1 hour ago, SingAPorn said:

Not very clear on how immigration will start making their annual checks for LTR visa holders to see if they still qualify and to "maintain" the LTR. With the risk of having the visa unfairly cancelled. Not to mention the postings read on the annual reporting and some immigration refusing to consider the report and asking the ltr holder to come back in 60 days. What if one has planned to leave when the ask to come back ?

 

You don't seem interested in this particular visa. Why do you keep posting on this thread?

[ThailandRyan]

On 5/7/2024 at 3:38 AM, Middle Aged Grouch said:

LTR is absolutely not worth applying considering all the bureaucratic hassle, all the absurd documents they ask day to day or invent and the fact that every year one has to show all the updated absurd documents for insurance etc asked and thus making this LTR definately not a hassle free for 10 years. In fact one pays a hefty amount just to be harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting). Your conception of annual reporting seems to widely change from when they ask for the reporting even if you show up after one calender year. Don't waste time in submitting as you will go through lots of hassle, and each time further documents will be asked on absurd grounds. Definately not worth the money and trip. In fact if you can, look at other countries in Asia for a retirement visa if you plan just to stay in winter.  Forget Thailand, no more worth it with all the absurd red tape and the possiblity that they will tax your foreign pension or at best require to file all kinds of paperwork and thus one will just be speinding the entire stay running back and forth for getting all their paperwork done.

Your wildly misinformed Sir. No hassles at all and your annual report date does not change if your in the country....no extra money required.  If you travel in and out that one year reporting date changes just like a 90 day would.  No running back and forth, clear and straight forward with BOI being a charm to work with. The LTR visa assures no taxes are collected in your pension remitted to Thailand either, or any monies from previous years.

Edited May 8 by ThailandRyan

[ThailandRyan]

2 hours ago, Sigmund said:

Wait till the tax catch up on you no matter what is said as rules change.

Your misinformed Sir. Rules on taxes for this visa are set by BOI and in a Royal Decree.

[ThailandRyan]

2 hours ago, Sigmund said:

Wait till they start asking you each year the documents to "maintain" the visa and make you go through all the hassle again with the risk of cancelling it.

Good lord, it's the little duck yelling the "Sky is Falling".....as always there are those who love drama

[Ben Zioner]

4 hours ago, mudcat said:

or cash transferred from overseas banks into Thai banks.

Provided that such cash was earned after December 31, 2023.

[SHA 2 BKK]

Seems the LTR haters are out in force over the last few days.  Heat must be driving them to extremes!   

[JohnnyBD]

I sent the following request to the BOI LTR Visa Unit. I am hoping they send me an email so I have something in writing before applying for my LTR visa.

 

Dear LTR Visa Unit,

Would you be so kind as to answer a couple of questions for me about the LTR Weathly Pensioner's visa. Thank you.

1. Are all foreign income and monies exempt from Thai income tax when remitted to Thailand?

2. I have US Social Security, a company pension, stock dividends, bank interest and IRA individual retirement account monies that I will be remitting to Thailand. Are all of those monies exempt from income tax when remitted to Thailand?

 

[oldcpu]

On 5/7/2024 at 5:38 PM, Middle Aged Grouch said:

LTR is absolutely not worth applying ...   and the fact that every year one has to show all the updated absurd documents for insurance etc ....  harassed each year, with the risk of the visa being cancelled if one is not in Thailand when they decide on the date you must do the annual reporting (that replaces the 90 day reporting). ....  if you can, look at other countries in Asia for a retirement visa if you plan just to stay in winter ...  the possiblity that they will tax your foreign pension

 

One does NOT have to show every year all updated documents for insurance. That statement of yours is wrong. You are confused with another visa perhaps?

 

One does not run a risk of having the Visa cancelled if one is not in Thailand to do annual reporting.  There is NO report required in that case. So that statement of yours is wrong. You are confused with another visa perhaps?

 

As for the possibility of taxing your foreign pension (1) many foreign pensions are covered by a Double Tax Agreement and (2) the LTR Visa,  by Thai Royal decree, has foreign money brought into Thailand tax exempt by Thailand.  So your statement on taxes was wrong if applied to the LTR visa.  Again, you are confused with another visa perhaps?

 

As I noted elsewhere, I too was skeptical about the LTR visa, until a friend, who knows my financial situation, had me sit down with him and compare non-immigrant Type-O/OA 1-year extensions vs LTR 10-year wealthy pensioner visa , POINT by POINT, convincing me I was wrong and convincing me that for my financial and residence situation, the LTR visa was definitely worth applying.  So I applied and obtained the LTR visa.

 

Further, I note as of the end of April-2024,  2,174 foreigners have applied for an LTR-WP visa, and further 7,322 foreigners have applied for different types of LTR visas. I think one can conclude from that there are most probably at least 7,322 foreigners who disagree with your assessment.

 

As for those who wish to stay in Thailand 'just for the winter' (ie less than 180 days) , they are not 'residents' to Thailand.  Note the word "resident" in Long Term Resident Visa.  ie this Visa is intended for, and structured for, relatively wealthy foreigners to come to (or stay in if already in Thailand) and reside in Thailand.  It is not designed for those who show up in the winter (although some of those who only show up in the winter may still be able to meet LTR requirements). 

 

My view is for those who don't meet the LTR requirements, and for those who plan to stay for much less than 180 days per year (ie only in the winter), there are other visa options they should consider.   I do note that those who plan to stay less than 180 days are not residents (ergo why go for a resident visa, if one is not planning to be a resident ?? ).

 

Edited May 8 by oldcpu

[oldcpu]

5 hours ago, Sigmund said:

Wait till they start asking you each year the documents to "maintain" the visa and make you go through all the hassle again with the risk of cancelling it.

 

"Wait till ... " That is a silly argument.

 

Its like saying 'Wait until the sky should fall' .  or  "wait until"  a Tsunami should wipe out Bangkok,  or "wait until" Thailand goes 100% xenophobic and all foreigners outlawed?   It is all the same sort of "wait until" speculation ....

 

People have been saying for years "wait until a Type-O visa" has health insurance requirements like a Type-OA.  It has not happened.  A speculative "wait until ... " is no more than speculation ..  ...

 

We should stick with facts.

 

LTR visa was established by a Royal decree with conditions laid out.  It was clearly laid out as a 10-year Visa, where ONLY at the 5-year point do finances have to be again proven.  There is no reason to believe your speculation has any basis in ever happening for a 10 year visa.  Rather just the opposite.   Your speculation reads like someone who either applied and was refused the LTR, or reads like that someone who for some reason can not meet the LTR-visa requirements and is upset.

 

 

[sabaiguy]

4 hours ago, ThailandRyan said:

Your misinformed Sir. Rules on taxes for this visa are set by BOI and in a Royal Decree.

No use trying to reason with Sigmund and MAG,  they want the LTR but can't meet the requirements.  Therefore it must be a POS. 

[Presnock]

On 5/4/2024 at 12:10 AM, SingAPorn said:

look above 🤞

required to report your current residence in Thailand yearly.  If you leave Thailand during the year, then your 1-year report begins again similar to 90-day report only for a year.  BOI also if queried prints out a list to be done on the yearly report.  Someone copied that and it is here somewhere.  Visa is exactly like other visas - to keep the visa valid for the length stamped in the PP, one must maintain the qualifications, according to the BOI.

[Presnock]

6 hours ago, JohnnyBD said:

I sent the following request to the BOI LTR Visa Unit. I am hoping they send me an email so I have something in writing before applying for my LTR visa.

 

Dear LTR Visa Unit,

Would you be so kind as to answer a couple of questions for me about the LTR Weathly Pensioner's visa. Thank you.

1. Are all foreign income and monies exempt from Thai income tax when remitted to Thailand?

2. I have US Social Security, a company pension, stock dividends, bank interest and IRA individual retirement account monies that I will be remitting to Thailand. Are all of those monies exempt from income tax when remitted to Thailand?

 

send the request to the BOI address is provided in this forum as well as tel. numbers.  Yes as a benefit, one's money remitted from outside Thailand (if not earned in Thailand) are tax free.  If the LTR holder wishes to work in Thailand the BOI will help get a work permit - that money earned in Thailand will be taxed even for the LTR holder.  I doubt that the Thai Board of Investment reads comments on this forum.

[shdmn]

On 7/8/2022 at 10:57 PM, jensmann said:

If I have a million dollar back home, I wouldn't be here. Simple...

A million dollars isn't that much nowadays.  There are probably quite a few people on retirement visas that have at least that much.

Edited May 8 by shdmn