LTR Visa is Now available for Long Term Residency

[Presnock]

9 hours ago, JohnnyBD said:

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.

just google BOI LTR - it willl show the advertisement with benefits and qualifications

[JohnnyBD]

1 hour ago, Presnock said:

just google BOI LTR - it willl show the advertisement with benefits and qualifications

I googled it already and couldn't find what i wanted to know, so I emailed the LTR Visa Unit today. I want to know if all income and/or monies remitted to Thailand are tax exempt no matter the source. Specifically, stock dividends, bank interest, company pension, IRA monies, capital gains, etc. I know the qualifications and meet the requirements. 

Edited May 8 by JohnnyBD

[Presnock]

5 hours ago, Presnock said:

just google BOI LTR - it willl show the advertisement with benefits and qualifications

 

3 hours ago, JohnnyBD said:

I googled it already and couldn't find what i wanted to know, so I emailed the LTR Visa Unit today. I want to know if all income and/or monies remitted to Thailand are tax exempt no matter the source. Specifically, stock dividends, bank interest, company pension, IRA monies, capital gains, etc. I know the qualifications and meet the requirements. 

according to the advertisement page for the BOI LTR - monies earned overseas are not taxed when remitted into Thailand no matter the foreign source.  I have an LTR and accept that as gospel.

[JohnnyBD]

1 hour ago, Presnock said:

 

according to the advertisement page for the BOI LTR - monies earned overseas are not taxed when remitted into Thailand no matter the foreign source.  I have an LTR and accept that as gospel.

You are correct. I just received an email from BOI LTR Visa Unit. They confirmed that any/all cash remitted into Thailand by a LTR-WP visa holder is exempt from income taxes. I specifically asked about all of the different sources of my foreign income, pension, dividends, interest, capital gains, etc., and they said it doesn't matter the source as long as it's cash being transferred. That's great news.

[Yumthai]

8 hours ago, JohnnyBD said:

They confirmed that any/all cash remitted into Thailand by a LTR-WP visa holder is exempt from income taxes.

Even for income earned and remitted within the same year into Thailand?

I thought tax exemption was only concerning income derived in the previous tax year as per Royal Decree 743.

[Pib]

39 minutes ago, Yumthai said:

Even for income earned and remitted within the same year into Thailand?

I thought tax exemption was only concerning income derived in the previous tax year as per Royal Decree 743.

 

That's my understanding of the LTR Royal Decree partially quoted below.   I read below as saying when it's tax filing time this come Jan-Mar 2025 which is for the 2024 tax year (the previous year)....any funds you remitted in 2024 such as pension which the TRD seems to lump under the tax category of employment would be tax free.   Another example, say you remitted some funds in 2025, well, you don't file tax for 2025 until Jan-Mar 2026 which is for the "previous" tax year of 2025.

 

Quote

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 Workfrom-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.

Edited May 9 by Pib

[JohnnyBD]

58 minutes ago, Yumthai said:

Even for income earned and remitted within the same year into Thailand?

I thought tax exemption was only concerning income derived in the previous tax year as per Royal Decree 743.

Yes, they said any/all income remitted once you receive your LTR visa is tax exempt. It doesn't mattrer from what foreign source or when it was earned. The Royal Decree 743 states that even if the income was earned in previous year it is still tax exempt. The Decree doesn't state that if you remit monies earned in the same year, that you will have to pay taxes on them. Where are you getting that from?

Edited May 9 by JohnnyBD

[Mike Teavee]

47 minutes ago, JohnnyBD said:

Yes, they said any/all income remitted once you receive your LTR visa is tax exempt. It doesn't mattrer from what foreign source or when it was earned. The Royal Decree 743 states that even if the income was earned in previous year it is still tax exempt. The Decree doesn't state that if you remit monies earned in the same year, that you will have to pay taxes on them. Where are you getting that from?

I thought Income earned between 1/1/2024 and you getting the LTR was still Taxable. 

 

E.g. I plan on going for mine when my pensions start in 2026 and am expecting that I would have to pay Tax on Rental/Dividend income earned in 2024 & 2025 if I remit it.

 

[oldcpu]

1 hour ago, Mike Teavee said:

I thought Income earned between 1/1/2024 and you getting the LTR was still Taxable. 

 

Money earned (outside of Thailand)  between 1/1/2024 and getting the LTR Visa is not taxable if it is not brought into the country until AFTER one gets the LTR Visa.

 

1 hour ago, Mike Teavee said:

E.g. I plan on going for mine when my pensions start in 2026 and am expecting that I would have to pay Tax on Rental/Dividend income earned in 2024 & 2025 if I remit it.

 

 

I believe if you keep the money earned in 2024 & 2025 OUTSIDE of Thailand, and only bring that 2024/2025 money into Thailand AFTER you get the LTR visa in 2026, then that 2024/2025 money is not be taxable. Others who are tracking this closer than myself can likely confirm but that is my understanding.

 

If the 2024/2025 money (or any other money) was earned INSIDE Thailand - then it is taxable ,  and you will have to pay Thai tax, even if you have an LTR visa.  An LTR does not give one exemption from tax on income earned inside Thailand.

 

If, on the other hand, you bring foreign sourced 2024 & 2025 money into Thailand before 2026, and if you have not yet paid tax (in another country on this) then that might be taxable (dependent on your Thai tax residency status). Note that there is another massive thread elsewhere on this topic.  Often a DTA (double tax agreement) with the source country where one earns the income (rental/dividends) may mean one does not have pay Thai tax, or one gets tax credits resulting in no double taxation.  It depends on the Thai agreement with the source country.  This starts getting complicated if one does not yet have the LTR.  So if you do get the LTR visa in 2026, it might be financially beneficial(?) , if you can afford such financially and do not need that money now,  to not bring the 2024/2025 money into Thailand until AFTER you obtain the LTR visa in 2026.

 

 

Again - its best to confirm such as I am definitely no expert on this.

 

Edited May 9 by oldcpu

[sabaiguy]

41 minutes ago, oldcpu said:

An LTR does not give one exemption from tax on income earned inside Thailand.

I thought I read at some point that the maximum Thai tax rate for LTR holders was 17%, apparently less than non-LTR taxpayers.  But I don't know that for a fact. I don't know a thing about Thai taxes.

[K2938]

3 hours ago, oldcpu said:

Money earned (outside of Thailand)  between 1/1/2024 and getting the LTR Visa is not taxable if it is not brought into the country until AFTER one gets the LTR Visa.

There are people who say that is not true IF you were a tax resident of Thailand in the period mentioned (i.e. 1/1/2024 to getting the LTR visa).  Who is right I have no idea and probably only the future will show.

[JohnnyBD]

10 hours ago, Mike Teavee said:

I thought Income earned between 1/1/2024 and you getting the LTR was still Taxable. 

 

No it's not, as long as you wait until after you get the LTR visa to remiit it. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa.

You can get on the BOI website just like I did, and send them a message if you want to confirm. That's what I did. I got tired of reading everyone's opinions, conjecture & speculations.

[JohnnyBD]

5 hours ago, K2938 said:

There are people who say that is not true IF you were a tax resident of Thailand in the period mentioned (i.e. 1/1/2024 to getting the LTR visa).  Who is right I have no idea and probably only the future will show.

People can say anything, that doesn't mean it's true. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa.

You can get on the BOI website just like I did, and send them a message if you want to confirm. That's what I did. I got tired of reading everyone's opinions, conjecture & speculations.

[JohnnyBD]

12 hours ago, Yumthai said:

Even for income earned and remitted within the same year into Thailand?

I thought tax exemption was only concerning income derived in the previous tax year as per Royal Decree 743.

Yes, tax exempt even for income earned and remitted in the same year. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa.

You can get on the BOI website just like I did, and send them a message if you want to confirm. That's what I did. I got tired of reading everyone's opinions, conjecture & speculations.

[oldcpu]

9 hours ago, K2938 said:

There are people who say that is not true IF you were a tax resident of Thailand in the period mentioned (i.e. 1/1/2024 to getting the LTR visa).  Who is right I have no idea and probably only the future will show.

 

The context of the question in which I was providing my opinion, was if a person did not get an LTR visa until sometime in year 2026, would they be required to pay tax for year 2024 or year 2025 taxation years? 

 

My view is if they brought no foreign sourced income money (ie income earned in 2024 & 2025)  into Thailand during the time in which they were NOT on an LTR visa (ie in 2024, 2025) , then they would not need to pay Thailand tax on that money that is still outside of Thailand.  Once they change to an LTR visa in year 2026 their tax payment requirements for Thailand change, by Thai Royal decree.  Hence if they, with their new LTR Visa, bring money into Thailand, given their new tax situation, they are not obligated to pay tax on income from previous years (if they followed Thai taxation law in those previous years, which I assume they did by not bringing the money into Thailand during those previous, pre-LTR visa, years).

 

If on the other hand, when they did NOT have an LTR visa (in 2024 & 2025) they DID bring that money into Thailand in 2024/2025, then that money 'might' be subject to Thai tax, but there are also other considerations.  What was one's residence in those 2024/2025 years?  Was the income money already taxed and covered under a Double Taxation Agreement with another country.  Did other tax exemptions apply?  I believe those aspects complicate this  - and given NONE of this applies to me, I have not looked into this further.

 

I suspect thou, once one is on an LTR visa, if one followed Thai taxation law in the past (before getting the LTR visa), then when on the LTR visa there should be no Thaland tax on bankrolled income/savings from previous years (if that money is still outside of Thailand when one obtained the LTR visa) ... ie no Thaliand income tax for foreign sourced money brought into Thailand once one on the LTR Visa and only then one decides, after getting the LTR visa, to bring the foreign sourced money from previous years into Thailand. 

 

A key point here obviously is one needed to follow Thai taxation law prior to one obtaining the LTR visa (and obviously follow Thai taxation law even after obtaining the LTR visa).  IMHO an LTR visa does not 'give one an out of jail free card' if one broke Thai taxation law in the past.

.

Edited May 10 by oldcpu

[Yumthai]

6 hours ago, JohnnyBD said:

Yes, tax exempt even for income earned and remitted in the same year. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa.

OK I get it, their wording "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 Workfrom-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..."  is related to the tax return filing year, which is confusing as, if exempted, LTR holder is not supposed to file.

 

Anyway, your written confirmation from BOI official source is bulletproof.

[Eddie45]

Sorry if I have missed this in the previous 105 pages. I emailed BOI about this matter but got ambiguous reply. If I apply and receive the Wealthy Pensioner or Wealthy Global Citizen LTR Visa and I am working online in Thailand for a company that I own overseas. How do I legally stand. Is this allowed under the rules of the LTR.

Edited May 10 by Eddie45

[Middle Aged Grouch]

Will they try to grab tax if the holder of the LTR P visa stays each year for less then 180 days ? Obviously not, but will that require nevertheless again paperwork and having to proove you were in Thailand for less then 180 days ? That remains the question.

[JohnnyBD]

1 hour ago, Middle Aged Grouch said:

Will they try to grab tax if the holder of the LTR P visa stays each year for less then 180 days ? Obviously not, but will that require nevertheless again paperwork and having to proove you were in Thailand for less then 180 days ? That remains the question.

What question remains? I don't understand. A LTR Wealthy Pensioner visa holder is not required to pay taxes on any monies remitted to Thailand, and that's whether the visa holder is in the country for 180 days or not. It makes no differnece to his tax exempt status. It's irrelevant.

Edited May 10 by JohnnyBD

[Mike Teavee]

1 hour ago, Eddie45 said:

Sorry if I have missed this in the previous 105 pages. I emailed BOI about this matter but got ambiguous reply. If I apply and receive the Wealthy Pensioner or Wealthy Global Citizen LTR Visa and I am working online in Thailand for a company that I own overseas. How do I legally stand. Is this allowed under the rules of the LTR.

 

The LTR doesn't really change whether you should be paying Tax on income you're actively earning whilst living/working in Thailand so I'll assume that you don't have a Work Permit & are not currently paying tax on the income that you're remitting.  Obviously the recent change could now lead you having to explain the source of that income & be taxed on it.

 

The LTR Tax advantages are aimed more at passive income (E.g. Dividends, Pensions, Rent, CGT etc...) being remitted from overseas but if you remit your overseas active income then it's unlikely it will be treated any different from these as LTR holders without Thai sourced income do not need to file Tax Returns. 

 

If I've got it wrong & you do have a Work Permit attached to your WP/WCG LTR then you'll pay Tax on that income as normal BUT will not need to declare any passive income that you remit. 

 

 

Though it doesn't specifically cover your question, this Video might be of interest to you...

 

 

Edited May 10 by Mike Teavee

[Sigmund]

Dubai retirement visa seems a far better alternative compared to the Thai LTR visa. No annual hassles to maintain the visa and go through all the re checking qualification process each year.

[JohnnyBD]

28 minutes ago, Sigmund said:

Dubai retirement visa seems a far better alternative compared to the Thai LTR visa. No annual hassles to maintain the visa and go through all the re checking qualification process each year.

The cost of living in Bangkok is 44% less expensive than Dubai. And, just so you know, there's no re-checking qualification process each year, just a 1-year reporting, same as the 90-day reporting.

Edited May 10 by JohnnyBD

[Sigmund]

8 minutes ago, JohnnyBD said:

The cost of living in Bangkok is 44% less expensive than Dubai, so you need to factor that in also.

Of course it is and I would say even more then the 44%. But I was refering to those who qualify for the LTR and love bragging about their millions 😂

[oldcpu]

2 hours ago, Sigmund said:

Dubai retirement visa seems a far better alternative compared to the Thai LTR visa.   No annual hassles to maintain the visa and go through all the re checking qualification process each year.

 

What annual hassles to maintain the LTR visa?  Do you mean the need to do an annual report (in comparison to a 90-day report) is the hassle? Would you rather do a 90-day report?  Note also, if you exit Thailand and return before the time for the 1-year annual report, the counter for the 1 year report restarts.  This 1-year report is an immigration check, and NOT a BoI financial check.

 

Now you mention 'to have to go through all the re checking qualification process each year".  What re-checking qualification process each year?  After obtaining the LTR visa, the financial qualification process is done with BoI only after five years !!!  One is given a 5-year permission to stay.   ..  Thai immigration one year financial process is applicable to one-year extensions on Visas like the Type-O and Type-OA visa and NOT applicable to the LTR.

 

But hey - if every year,  you wish to fly to Bangkok, with all your financial paperwork in order, and pound on BoIs door step showing your LTR finances, ... proving to BoI you qualify still for the LTR,  ... well ...  ok ... go ahead. Fill your boots !!   I think you will be the ONLY LTR holder in Thailand to go to Bangkok to BoI and do that every year.  Apologies for my being facetious but that statement I quoted is so far out ...

 

Now the rest of us with the LTR visa ?  We will show our financial situation still meets the requirement only after five years per the requirement.  And if we travel out of country every 10 to 11 months for a short interesting travel elsewhere (such as brief visits to family out of country - or visit countries we have not yet seen and may be curious about), we may never actually do the 'annual' report (as our having our passports stamped by Immigration upon re-entering Thailand starts the counter again for our annual report).

 

.

Edited May 10 by oldcpu

[Presnock]

On 5/9/2024 at 5:30 AM, JohnnyBD said:

I googled it already and couldn't find what i wanted to know, so I emailed the LTR Visa Unit today. I want to know if all income and/or monies remitted to Thailand are tax exempt no matter the source. Specifically, stock dividends, bank interest, company pension, IRA monies, capital gains, etc. I know the qualifications and meet the requirements. 

I am pretty sure that all foreign remitted funds to Thailand are exempt under the LTR benefits (by royal decree).  If one works legally in Thailand with the LTR work permit, the earned funds will be taxed a a different rate than normal- BOI will probably send you confirmation soon.

[Presnock]

4 hours ago, oldcpu said:

 

What annual hassles to maintain the LTR visa?  Do you mean the need to do an annual report (in comparison to a 90-day report) is the hassle? Would you rather do a 90-day report?  Note also, if you exit Thailand and return before the time for the 1-year annual report, the counter for the 1 year report restarts.  This 1-year report is an immigration check, and NOT a BoI financial check.

 

Now you mention 'to have to go through all the re checking qualification process each year".  What re-checking qualification process each year?  After obtaining the LTR visa, the financial qualification process is done with BoI only after five years !!!  One is given a 5-year permission to stay.   ..  Thai immigration one year financial process is applicable to one-year extensions on Visas like the Type-O and Type-OA visa and NOT applicable to the LTR.

 

But hey - if every year,  you wish to fly to Bangkok, with all your financial paperwork in order, and pound on BoIs door step showing your LTR finances, ... proving to BoI you qualify still for the LTR,  ... well ...  ok ... go ahead. Fill your boots !!   I think you will be the ONLY LTR holder in Thailand to go to Bangkok to BoI and do that every year.  Apologies for my being facetious but that statement I quoted is so far out ...

 

Now the rest of us with the LTR visa ?  We will show our financial situation still meets the requirement only after five years per the requirement.  And if we travel out of country every 10 to 11 months for a short interesting travel elsewhere (such as brief visits to family out of country - or visit countries we have not yet seen and may be curious about), we may never actually do the 'annual' report (as our having our passports stamped by Immigration upon re-entering Thailand starts the counter again for our annual report).

 

.

People, there is no having to reconfirm qualifications at the yearly report - at least none that I have been advised of and I have an LTR.  It is to report your residence yearly only - and if you are in Thailand you or your agent who makes the report just need a to fill in a form.sign it and as for the 5-year, I haven't seen anything yet on exactly what will be needed.  And yes by leaving the country, like the 90-day, one's yearly residence report  resets the time for the next one.  One does not need to go to the BOI to do the yearly report - only immigration and the immigration office at the BOI is much more convenient than going to some of the other immigration offices.  No one is being forced to get an LTR but for me it is the cheapest and most beneficial of all the visas.  I had an Retirement O for almost 20 years of doing those

yearly plus 90-day reports.  the LTR is for a RESIDENT in my opinion but some people have one and travel much during the year I guess.

[Presnock]

Seems a lot of people that read this forum still do not understand anything about the LTR visa, it is just another option for people that meet the qualitifications and there are ads from the Thai BOI (Board of Investment). has 4 categories for applicants, depending on financial and health insurance situations.  It is a 5+5 (10 year) visa with yearly providing the immigration folks with residence (can also be done by an agent) and I assume REQUALIFICATION after 5 years but haven't received info on that.  One can obtain a work permit while holding the LTR also but while all funds remitted from overseas are tax exempt by royal decree, if one earns money in Thailand that is taxed but at a better rate for the individual.  The one-year report of residence to immigration can have the date reset to the following year if one leaves the country and then returns later.   If one gets a retirement visa O with multiple exits/returns, the LTR is actually cheaper (50K baht) and some have provided the figures on this forum.  In my opinion, for me, the benefits and costs are much better under the LTR than a retirement visa.  That doesn't mean it is better for YOU.  One should check out the BOI ad on this visa and if there are still unanswered questions, contact the BOI (they speak English well) and they have always been very helpful and patient with this old guy.  It took a total of 3 weeks to get the visa once I applied plus several phone calls.  If one can fit into one of the categories then I think that they too will agree in the long run that this LTR is the best one for them.  And like all the Thai visas, if one checks with the BOI they will inform you that to keep the visa, one must maintain the qualifications - that is the same for all visas.  It doesn't mean right now  anyway that they are going to be doing yearly checks on LTR holders - if one goes to an immigration office elsewhere in Thailand, then that office might have additional requirements just like with other visas and other immigration officers.  Good luck.

[Misty]

5 hours ago, Presnock said:

I am pretty sure that all foreign remitted funds to Thailand are exempt under the LTR benefits (by royal decree).  If one works legally in Thailand with the LTR work permit, the earned funds will be taxed a a different rate than normal- BOI will probably send you confirmation soon.

 

Just to clarify:  for most LTR visas if you work in Thailand the earned funds will be taxed at the normal progressive rate schedule, reportable on a PND90 or PND91.

 

There's only one LTR visa (LTR HSP) where the earned funds will be taxed at a flat 17% rate reportable on a PND95.  But the LTR HSP visa doesn't get the benefit for the royal decree tax benefit.  If you have an LTR HSP and remit foreign funds into Thailand, the royal decree doesn't apply.

[Yumthai]

6 hours ago, Presnock said:

That doesn't mean it is better for YOU.

LTR visa is objectively better for anyone who can afford it (basically meeting the financial requirements).

Perks outweigh any other type of visa for people who want to establish long term in Thailand. It's cheaper with less administrative burden and most importantly offer tax-free foreign remittances.

I can't see any downside, do you?

 

[Presnock]

59 minutes ago, Yumthai said:

LTR visa is objectively better for anyone who can afford it (basically meeting the financial requirements).

Perks outweigh any other type of visa for people who want to establish long term in Thailand. It's cheaper with less administrative burden and most importantly offer tax-free foreign remittances.

I can't see any downside, do you?

 

absolutely not! I had a retirement O for 20 years,  I went through the different changes both at CW and especially in Chiang Mai for many years.  When I read about the BOI LTR I was amazed at how well it fit with my situation as a long term resident,  The only 3 weeks of having great support in the BOI office, I had my stamps and couldn't be happier with any other visa.  I had many choices of where I could retire including in the US but after having lived in just about every liveable continent, Thailand was my first choice and I have not regretted it even one day.  I realize it is not perfect but I sure don't Know any other place that could be better for me.  Right now am finding it difficult to not be super happy every day!  Good luck to you and others that also love living here and hope it only gets even better.