LTR Visa is Now available for Long Term Residency

[mran66]

18 hours ago, Desmond77 said:

In a nutshell, below are the changes:

 

WFTP:

1. Instead of USd150M over 3 years for private companies, it will be lowered down to USD50M.

2. The minimum income of USD80k per annum over the past 2 years shall go out of the window

 

WP:

1. The minimum passive income of USD80K will be abolished as well.

 

Dependents:

1. Currently limit to 4 but there shall be no limit on the number of dependents soon.

 

 

Was googling about LTR visa and this new about relaxed requirements came up, however no mention of WP category that would be relevant to me.

 

My issue for application and meeting the criteria is not the income threshold, rather the required documentation to prove it. BOI LTR visa web page says the income needs to be proved by tax filing documents. My (fortunate or unfortunate( situation is that I do not need to file such income to my home country, so I do not have such tax filing documents to show. 

 

Anyone familiar with the LTR application procedure would happen to know whether report from financial institution  would be accepted instead of tax filing documents in such situation?  Or know an agent or something that would know?

[CharlesHolzhauer]

18 hours ago, Desmond77 said:

Haha.. Yes, you are absolutely correct. WP refers to Wealthy Pensioners.

Changes to Thailand’s 10 year visa don’t impact on most expats
https://www.pattayamail.com/latestnews/news/changes-to-thailands-10-year-visa-dont-impact-on-most-expats-487174

[Ben Zioner]

10 minutes ago, mran66 said:

 

 

Was googling about LTR visa and this new about relaxed requirements came up, however no mention of WP category that would be relevant to me.

 

My issue for application and meeting the criteria is not the income threshold, rather the required documentation to prove it. BOI LTR visa web page says the income needs to be proved by tax filing documents. My (fortunate or unfortunate( situation is that I do not need to file such income to my home country, so I do not have such tax filing documents to show. 

 

Anyone familiar with the LTR application procedure would happen to know whether report from financial institution  would be accepted instead of tax filing documents in such situation?  

I am in the same tax situation tax as you. I provided the yearly statements of my pension fund with the matching bank statements as proof of due payments. No questions ask [to me]. But there were dozens of other LTR visa applicants who had the same [UN] background as I.

[Ben Zioner]

4 minutes ago, CharlesHolzhauer said:

Changes to Thailand’s 10 year visa don’t impact on most expats
https://www.pattayamail.com/latestnews/news/changes-to-thailands-10-year-visa-dont-impact-on-most-expats-487174

"Immigration lawyer Jessataporn Bunnag said, “There is now a choice of visas for expats such as Elite or DTV. The LTR is really aimed at the super-rich"

 

Amazing nonsense, the only visa designed for the rich is the Elite, and even more so after it's recent changes. It s for people who don't mind throwing millions of Baht out the window. While LTR is a sensible offer for the middle class.

[oldcpu]

20 minutes ago, mran66 said:

Anyone familiar with the LTR application procedure would happen to know whether report from financial institution  would be accepted instead of tax filing documents in such situation?  Or know an agent or something that would know?

 

One good thing about BoI is they have personnel who speak English and who can and who are agreeable to answering questions.  So you could also phone BoI and ask them this very question, before you spend any time doing the application for the LTR visa.

 

For example, I applied for the LTR-WP visa when it was still relatively new ... At that time, on this forum, there was debate whether only a new condo purchase could be acceptable for the $250k investment in Thailand, or whether an older condo purchase (from 7 years prior) would be acceptable for $250k investment. There we some on this forum strongly claiming a previous condo purchase would not be accepted - and some saying the opposite. ...  You know what its like. ... The typical Asian Forum Now debate.  < sigh >

 

So my wife and I simply phoned BoI and obtained the direct answer from them.

 

Hence for your question, if unclear, don't hesitate to phone BoI.

[CharlesHolzhauer]

7 minutes ago, Ben Zioner said:

While LTR is a sensible offer for the middle class.

There is a wealthy pensioner category for those aged over 50, but the minimum annual income of US$80,000 has been left untouched by the Cabinet.

[mran66]

11 minutes ago, Ben Zioner said:

"Immigration lawyer Jessataporn Bunnag said, “There is now a choice of visas for expats such as Elite or DTV. The LTR is really aimed at the super-rich"

 

Amazing nonsense, the only visa designed for the rich is the Elite, and even more so after it's recent changes. It s for people who don't mind throwing millions of Baht out the window. While LTR is a sensible offer for the middle class.

 

LTR is the only one with tax exemption (at least for now), but elite is under normal tax rules based on residency time. That tax benefit is many times more annually than cost of elite visa and the only reason I thinking how to get it. Elite is just last option for those who don't quality for any other visas. 

[Pib]

40 minutes ago, mran66 said:

 

 

Was googling about LTR visa and this new about relaxed requirements came up, however no mention of WP category that would be relevant to me.

 

My issue for application and meeting the criteria is not the income threshold, rather the required documentation to prove it. BOI LTR visa web page says the income needs to be proved by tax filing documents. My (fortunate or unfortunate( situation is that I do not need to file such income to my home country, so I do not have such tax filing documents to show. 

 

Anyone familiar with the LTR application procedure would happen to know whether report from financial institution  would be accepted instead of tax filing documents in such situation?  

While BOI likes to see tax returns they are not the only income documents they will gladly accept as proof especially if you explain why you can not provide a tax like maybe  you do not need to file in your country.  OR, you do have tax returns which you can provide but since the pension(s) is not taxable/not reportable  in your country the pension is not shown on the tax return....or the pension might only be partially taxable/reportable on a tax return which ends up causing the amount entered on the tax return to be a smaller amount than it actually is making it look like your gross income per year is less than $80K.

 

An example of where a particular pension/benefit may not be taxable/not reportable is U.S. Veterans Administration (VA) payments.  A VA pension is not taxable by US tax law and since it's not taxable the VA does not provide an annual tax form for filing with your tax return because it is not taxable/not reportable on tax returns.   Another example is US Social Security pension that is "partially" taxable/reportable although they do provide an annual tax form.  

 

So, there are cases where a tax return may not be available OR a tax return is available but due to tax laws you may not need to even show the pension or only partially show it on a tax return.   BOI is aware this happens but you should point out "why" you can not provide a tax return or why a pension some passive income does not show on your tax return.  BOI deals with docs from many, many countries and already know a good amount about taxes by country. 

 

But since BOI would not know if in "your particular case" that certain tax laws may apply to "your" situation you should include a short memo in your application explaining why you are not including a tax return and/or why the tax return may not reflect a certain income/pension making it look like you have less income. 

 

THEN you will need to provide another document proving you have the income/pension and the amount.  This is usually done by providing a document/benefit letter/certificate from the "pension paying agency" showing the income.  Like that VA example I gave where the pension is completely tax free and not reportable on a tax return, HOWEVER< the VA does provide a benefit letter/certificate that show how much you receive....the BOI will need to see that document.

 

Summary: BOI will accept other income documentation; it does not have to be a tax return although BOI really wants to see tax returns on most applications as that can add support to your application.  But as mentioned it's not a "hardcore" requirement depending on particular situation which can explain in your situation.     And if you are from certain countries that tax worldwide income and a tax return must be submitted to the Internal Revenue Service (IRS) annually unless you don't make enough money to reach a certain low income threshold then BOI knows a US applicant who is making $80K/year mu t submit an annual tax return to the IRS and therefore would have a copy to provide a tax return "unless" they haven't been paying taxes/filing a return OR really are not making at least $80K per year.

 

 

 

 

 

[mran66]

2 minutes ago, Pib said:

While BOI likes to see tax returns they are not the only income documents they will gladly accept as proof especially if you explain why you can not provide a tax like maybe  you do not need to file in your country.  OR, you do have tax returns which you can provide but since the pension(s) is not taxable/not reportable  in your country the pension is not shown on the tax return....or the pension might only be partially taxable/reportable on a tax return which ends up causing the amount entered on the tax return to be a smaller amount than it actually is making it look like your gross income per year is less than $80K.

 

An example of where a particular pension/benefit may not be taxable/not reportable is U.S. Veterans Administration (VA) payments.  A VA pension is not taxable by US tax law and since it's not taxable the VA does not provide an annual tax form for filing with your tax return because it is not taxable/not reportable on tax returns.   Another example is US Social Security pension that is "partially" taxable/reportable although they do provide an annual tax form.  

 

So, there are cases where a tax return may not be available OR a tax return is available but due to tax laws you may not need to even show the pension or only partially show it on a tax return.   BOI is aware this happens but you should point out "why" you can not provide a tax return or why a pension some passive income does not show on your tax return.  BOI deals with docs from many, many countries and already know a good amount about taxes by country. 

 

But since BOI would not know if in "your particular case" that certain tax laws may apply to "your" situation you should include a short memo in your application explaining why you are not including a tax return and/or why the tax return may not reflect a certain income/pension making it look like you have less income. 

 

THEN you will need to provide another document proving you have the income/pension and the amount.  This is usually done by providing a document/benefit letter/certificate from the "pension paying agency" showing the income.  Like that VA example I gave where the pension is completely tax free and not reportable on a tax return, HOWEVER< the VA does provide a benefit letter/certificate that show how much you receive....the BOI will need to see that document.

 

Summary: BOI will accept other income documentation; it does not have to be a tax return although BOI really wants to see tax returns on most applications as that can add support to your application.  But as mentioned it's not a "hardcore" requirement depending on particular situation which can explain in your situation.     And if you are from certain countries that tax worldwide income and a tax return must be submitted to the Internal Revenue Service (IRS) annually unless you don't make enough money to reach a certain low income threshold then BOI knows a US applicant who is making $80K/year mu t submit an annual tax return to the IRS and therefore would have a copy to provide a tax return "unless" they haven't been paying taxes/filing a return OR really are not making at least $80K per year.

 

 

 

 

 

 

Thanks, so sounds it might be possible to pass the document hurdle. 

 

In short, my situation is that my home country does not tax me for income outside of my home country, and I have no income from my home country. I do not even need to file tax return if no income from home country. Has been like this for over 20 years so filing tax returns is not something I am familiar with. 

 

I have no pension, just investments and income from those. Most held in one financial institution so I could easily show my annual income in couple pages by printing annual report from their system. 

 

 

[mran66]

25 minutes ago, oldcpu said:

 

One good thing about BoI is they have personnel who speak English and who can and who are agreeable to answering questions.  So you could also phone BoI and ask them this very question, before you spend any time doing the application for the LTR visa.

 

For example, I applied for the LTR-WP visa when it was still relatively new ... At that time, on this forum, there was debate whether only a new condo purchase could be acceptable for the $250k investment in Thailand, or whether an older condo purchase (from 7 years prior) would be acceptable for $250k investment. There we some on this forum strongly claiming a previous condo purchase would not be accepted - and some saying the opposite. ...  You know what its like. ... The typical Asian Forum Now debate.  < sigh >

 

So my wife and I simply phoned BoI and obtained the direct answer from them.

 

Hence for your question, if unclear, don't hesitate to phone BoI.

 

Thanks for advice. I better make a call then. Sent an email about the issue few months ago to them, no reply, so thought it is a showstopper if they don't even bother answering... 

[oldcpu]

3 minutes ago, mran66 said:

 

Thanks for advice. I better make a call then. Sent an email about the issue few months ago to them, no reply, so thought it is a showstopper if they don't even bother answering... 

 

 Yes. Phone call is best.  I also sent an email (before phoning) and I also received no email reply. But a phone call worked.

[Pib]

19 minutes ago, mran66 said:

 

LTR is the only one with tax exemption (at least for now), but elite is under normal tax rules based on residency time. That tax benefit is many times more annually than cost of elite visa and the only reason I thinking how to get it. Elite is just last option for those who don't quality for any other visas. 

 

Yeap....the Elite visa provides no tax benefits/exemptions.   IMO opinion the Elite visa folks shot themselves in the foot 7 times with a 6 shooter (and that's very hard to do) when they made that HUGE price increase for the Elite visas in late 2023..  And the LTR visas are surely taking away many Elite potential customers....and even the new DTV visas are now surely taking away more Elite visa potential customers.   

 

Take a look at below pretty recent Youtube 10 minute video from an Elite Visa agent.    While the first minute or so talks glowingly about the limited time Elite Bronze 5 year visa at around the 1 minute point for the remainder of the video he talks pretty much solely about how and why the Elite visa folks greatly damaged (killed) the overall Elite visa program beginning late 2023.    IMO it's really an honest assessment of the Elite visa program "after" their HUGE price increase in late 2023.  

 

How Thailand Killed the Elite Visa, then Made it Great Again! - Bronze Privilege Card Review

 

 

[Pib]

10 minutes ago, mran66 said:

 

Thanks, so sounds it might be possible to pass the document hurdle. 

 

In short, my situation is that my home country does not tax me for income outside of my home country, and I have no income from my home country. I do not even need to file tax return if no income from home country. Has been like this for over 20 years so filing tax returns is not something I am familiar with. 

 

I have no pension, just investments and income from those. Most held in one financial institution so I could easily show my annual income in couple pages by printing annual report from their system. 

 

 

 

Yes, it's quite possible. And if you include a short memo explaining like you did above and also identifying the country (because BOI will probably already know if your home country has such a tax law of not requiring a tax return when no longer a tax resident) then BOI will only require you to provide proof via documents from your pension paying agency, other docs showing passive income, etc. 

 

Tax returns are not a hardcore requirement when you have good reason for not having any and you can then provide other documents to prove income. 

[mran66]

45 minutes ago, Pib said:

 

Yes, it's quite possible. And if you include a short memo explaining like you did above and also identifying the country (because BOI will probably already know if your home country has such a tax law of not requiring a tax return when no longer a tax resident) then BOI will only require you to provide proof via documents from your pension paying agency, other docs showing passive income, etc. 

 

Tax returns are not a hardcore requirement when you have good reason for not having any and you can then provide other documents to prove income. 

 

 

BTW would you happen to know it the "10 mo remaining" insurance criteria is a hard core one? I've had same health insurance for many years but the renewal is in early April, thus only 3mo left before next renewal.

 

Wondering if this is a showstopper for  application until I renew, or long history with same insurance would be acceptable even with only 3mo left

[mran66]

55 minutes ago, Pib said:

 

Yeap....the Elite visa provides no tax benefits/exemptions.   IMO opinion the Elite visa folks shot themselves in the foot 7 times with a 6 shooter (and that's very hard to do) when they made that HUGE price increase for the Elite visas in late 2023..  And the LTR visas are surely taking away many Elite potential customers....and even the new DTV visas are now surely taking away more Elite visa potential customers.   

 

The logic (or lack of it) makes me wonder if they have a forum where they review the visa system holistically covering all options, or is it rather different govt departments competing against each other with their own visas. I would guess the LTR, DTV and other affordably priced visas are created by departments who genuinely try to attract certain type of people to reside (= spend or bring money) in/to Thailand, and the new options obviously are working for many people to whom Elite was the only officially available one in the past (language school visas used to circumvent the rules though). So Elite really has become the the last resort visa to get cash from marginal foreigner segments who do not qualify for others, yet for whatever reason want to stay here. Pricing the Elite more affordably might actually be financially better for the sellers of Elite.

 

However, if you do not qualify for LTR or DTV, retirement or the likes, Elite even with its current pricing is not a bad deal for certain groups as long as tax rules remain as they are even with tax on income brought in (as long as no global taxation) as the cost is very small compared to tax savings for certain group of people. You spend some 20k USD to get the visa, and might be able to save 10, 100, 1000 or even more times  in taxes in your home country by becoming tax resident here. I recall I was considering getting the Elite before turning 50 for couple of years for the very reason, however at the time you could still manage to stay enough in Thailand by traveling in/out the country without any visa or tourist visa, so did not at the end as was traveling quite a bit anyway.

[Ben Zioner]

1 hour ago, CharlesHolzhauer said:

There is a wealthy pensioner category for those aged over 50, but the minimum annual income of US$80,000 has been left untouched by the Cabinet.

Yes, so?

 

This 80K limit was well chosen IMHO, and LTR/WP has been by far the most successful of the 4 LTR visa categories. So why would they change the requirements? Also don't you think that BOI would rather favour younger, active, talented younger people over affluent geezers?

 

I am one of the latter BTW, but let's be realistic here.

[oldcpu]

50 minutes ago, mran66 said:

 

 

BTW would you happen to know it the "10 mo remaining" insurance criteria is a hard core one? I've had same health insurance for many years but the renewal is in early April, thus only 3mo left before next renewal.

 

Wondering if this is a showstopper for  application until I renew, or long history with same insurance would be acceptable even with only 3mo left

 

I recommend you phone BoI and ask.

 

My speculation is that such will be an issue, and it may add a few extra months to your application approval time, while BoI wait for you to renew your health insurance for another year.

.

[oldcpu]

6 minutes ago, Ben Zioner said:

This 80K limit was well chosen IMHO, and LTR/WP has been by far the most successful of the 4 LTR visa categories. So why would they change the requirements?

 

 

Further to your point (to which I agree), BoI also setup the LTR-WP requirements such that if one did not want to show all their income (to meet the $80k US$ equiv) to meet the annual requirement, instead one could show only $40K US$ annual income equivalent instead, together with a $250K US$ equiv investment in Thailand (where the past purchase of one's Thailand condo met that criteria - as long as one still owned the condo). 

[Desmond77]

1 hour ago, mran66 said:

 

 

BTW would you happen to know it the "10 mo remaining" insurance criteria is a hard core one? I've had same health insurance for many years but the renewal is in early April, thus only 3mo left before next renewal.

 

Wondering if this is a showstopper for  application until I renew, or long history with same insurance would be acceptable even with only 3mo left

Just a personal suggestion.

 

If you would like to proceed with your LTR application as soon as possible and you do not want to wait for your insurance to be due for renewal in Apr, you may consider getting one of those cheap "Buy & throw" kind of insurance just to fulfill the immediate requirements of the application. It is not expensive and it serves the purpose, instantly. 

[mran66]

22 minutes ago, oldcpu said:

 

I recommend you phone BoI and ask.

 

My speculation is that such will be an issue, and it may add a few extra months to your application approval time, while BoI wait for you to renew your health insurance for another year.

.

 

10 minutes ago, Desmond77 said:

Just a personal suggestion.

 

If you would like to proceed with your LTR application as soon as possible and you do not want to wait for your insurance to be due for renewal in Apr, you may consider getting one of those cheap "Buy & throw" kind of insurance just to fulfill the immediate requirements of the application. It is not expensive and it serves the purpose, instantly. 

 

Was just reading the application process steps on their webpage, and it seems there is actually a specific step to add additional or updated info like insurance docs and entry stamps prior to final approval by BOI staff. Does not make much of a difference to me whether I apply now or April (retirement visa due in November), but seems I could actually  file the application and get the 20day processing started earlier, and update the insurance and latest entry stamp (if any) in April as per the std process

[Desmond77]

2 minutes ago, mran66 said:

 

 

Was just reading the application process steps on their webpage, and it seems there is actually a specific step to add additional or updated info like insurance docs and entry stamps prior to final approval by BOI staff. Does not make much of a difference to me whether I apply now or April (retirement visa due in November), but seems I could actually  file the application and get the 20day processing started earlier, and update the insurance and latest entry stamp (if any) in April as per the std process

If you follow the standard application process on the website, you are right. But I have known of cases when BOI has actually requested for the insurance policy at very early stages of the application. They requested for the full schedule of my insurance policy just merely a week after my submission of the application and my approval only came in on the 27th business day.

 

So what you can do is follow the standard application process and submit whatever documents that are required first. Fill up the declaration form to state that you are aware of the requirement of the submitting the insurance policy with a minimum of USd50k coverage at a later stage and upload that declaration form together with the initial application. Many successful applicants here in this forum will agree with me that different screeners at BOI office work a little differently but, for a common objective.

[mran66]

6 minutes ago, Desmond77 said:

If you follow the standard application process on the website, you are right. But I have known of cases when BOI has actually requested for the insurance policy at very early stages of the application. They requested for the full schedule of my insurance policy just merely a week after my submission of the application and my approval only came in on the 27th business day.

 

So what you can do is follow the standard application process and submit whatever documents that are required first. Fill up the declaration form to state that you are aware of the requirement of the submitting the insurance policy with a minimum of USd50k coverage at a later stage and upload that declaration form together with the initial application. Many successful applicants here in this forum will agree with me that different screeners at BOI office work a little differently but, for a common objective.

 

 

Okay, thanks.

 

Just noticed that passport validity date is also a consideration - my passport expires in November 9th, and was planning to renew it during summer when visiting home country. However, LTR says requirement is passport valid for 6mo at the time of visa issuance (not at time of application). Thus, I might need to get a new passport via embassy (and pay their ridiculous delivery fee...) if the application process incl making the appointment to get the stamp takes time. Insurance renewal on April 12, so really have only 3 weeks between 100% set of docs and the 6mo deadline.

 

Is the appointment usually soon after getting the application approved, or takes weeks from approval?

 

Any idea if I can file the initial application with my current passport, and then get a new passport during the application process so that when appear for the stamp I would have new blank passport (possibly with transferred non-O on it), OR is it better just to get new passport from embassy first, transfer my visa to it, and just file the application with that new passport?

[oldcpu]

1 hour ago, mran66 said:

 

 

BTW would you happen to know it the "10 mo remaining" insurance criteria is a hard core one? I've had same health insurance for many years but the renewal is in early April, thus only 3mo left before next renewal.

 

Wondering if this is a showstopper for  application until I renew, or long history with same insurance would be acceptable even with only 3mo left

 

One further thought (and my apologies if you already considered this and it was rejected), ... is there any chance (assuming you wish to keep your current health insurance provider) that you may wish to contact your health insurance provider now, and see if they are willing to extend your health insurance now for the following year, (to bring it to April-2026)? 

 

And another thought, it is quite possible that BoI will want proof of your health insurance that is not in a form that your health insurance provider will nominally provide. I encountered that, and I gave up with trying to use my health insurance company as proof, and I went the $100k US$ equivalent in a savings account. .... I learned subsequently that some were able to tell their health insurance company precisely what was needed to be stated (in a one page letter) and that sufficed to satisfy BoI.  I don't know the exact content of the Health Insurance company letter that worked - and my hope is that some day some who went this route will copy and paste the relevant text from such a successful health insurance letter, and post it here.

 

This could be relevant for me also, in 2028, when I go for my 5-year re-proof of finances/insurance for my LTR-WP visa.

[oldcpu]

17 minutes ago, mran66 said:

Just noticed that passport validity date is also a consideration - my passport expires in November 9th

 

 

If it were me, I would apply now for LTR visa. 

 

In parallel work now to renew health insurance for 1-more year and get required health insurance documentation/letter.  Again, I hope  someone chimes in and copies text of letter (from health insurance company) that worked for them. You can then send that text to health insurance company (after agreeing for continued coverage to April-2026) and provide that to BOI.  Surely you can start that health insurance detail now.

 

Ideally you wish to obtain LTR visa BEFORE May-2025, where if you have all else sorted this month or by February-2025, that should IMHO be doable.

 

Also , I think some nationalities, if requested, will allow one to obtain a passport renewal as much as 1-year before expiry.  You could check with your local consulate/embassy, and ask them if such is possible (be certain to explain to them why you need such early).

[oldcpu]

15 minutes ago, mran66 said:

Any idea if I can file the initial application with my current passport, and then get a new passport during the application process so that when appear for the stamp I would have new blank passport (possibly with transferred non-O on it), OR is it better just to get new passport from embassy first, transfer my visa to it, and just file the application with that new passport?

 

i suspect you can change during the process.  Further, i suspect BoI may even communicate back to you of a potential issue with your passport expiry date, and request that you renew such.

 

Again , a phone call to BoI might help you come up with the optimal way forward.

[CharlesHolzhauer]

1 hour ago, Ben Zioner said:

Yes, so?

 

This 80K limit was well chosen IMHO, and LTR/WP has been by far the most successful of the 4 LTR visa categories. So why would they change the requirements? Also don't you think that BOI would rather favour younger, active, talented younger people over affluent geezers?

 

I am one of the latter BTW, but let's be realistic here.

whoooosh

[Desmond77]

36 minutes ago, mran66 said:

 

 

Okay, thanks.

 

Just noticed that passport validity date is also a consideration - my passport expires in November 9th, and was planning to renew it during summer when visiting home country. However, LTR says requirement is passport valid for 6mo at the time of visa issuance (not at time of application). Thus, I might need to get a new passport via embassy (and pay their ridiculous delivery fee...) if the application process incl making the appointment to get the stamp takes time. Insurance renewal on April 12, so really have only 3 weeks between 100% set of docs and the 6mo deadline.

 

Is the appointment usually soon after getting the application approved, or takes weeks from approval?

 

Any idea if I can file the initial application with my current passport, and then get a new passport during the application process so that when appear for the stamp I would have new blank passport (possibly with transferred non-O on it), OR is it better just to get new passport from embassy first, transfer my visa to it, and just file the application with that new passport?

No problem with that. You may actually kick off your application with your existing passport because when your application has been approved, you will be asked to upload the passport which you would like to use to receive the LTR. I renewed my passport in the midst of my application.

[JimGant]

3 hours ago, Pib said:

While BOI likes to see tax returns they are not the only income documents they will gladly accept as proof especially if you explain why you can not provide a tax like maybe  you do not need to file in your country. 

Or, like for me, and probably many Yanks, our tax returns are joint. Thus, the return, by itself, doesn't parse my income from my wife's. So it's worthless. So, in my case, I did submit the first two pages of my joint 1040 -- but also the 1099s that defined my specific taxable income for the year. With an explanatory note. No problem.

 

Oh, and the tax return/1099s were for only the past year. Some forms of LTR, but not WP, require the past two years. I had to get BoI to clarify this for me.

[aldriglikvid]

I'm currently on the Elite and I've been contemplating the LTR just to not face tax on remittances. Is it still the case that my transfers are exempt, on the LTR? 

Follow up Q.: anyone else on the Elite that have also acquired the LTR? Any immediate Pros/Cons? 

Thanks! 

[mran66]

58 minutes ago, aldriglikvid said:

I'm currently on the Elite and I've been contemplating the LTR just to not face tax on remittances. Is it still the case that my transfers are exempt, on the LTR? 

Follow up Q.: anyone else on the Elite that have also acquired the LTR? Any immediate Pros/Cons? 

Thanks! 

 

Well, exempt on overseas income is clearly listed as benefit and that is also my only reason to apply it instead of continue on non-O renewals

 

Having said that, it is anyone's guess how rules are applied with current system since 1jan24 as no experience yet, not to speak about possible law changes in the future. Can only assume that no tax on overseas income in any situation.