LTR Visa is Now available for Long Term Residency

[marino28]

Anybody know if is ok to buy Thai shares in order to qualify ?

 

thanks 

[Pib]

9 hours ago, marino28 said:

Anybody know if is ok to buy Thai shares in order to qualify ?

 

thanks 

 

Highly doubtful as I don't expect it would be considered "direct" investment but instead indirect investment unless you could provide the required evidence docs for direct investment.    See below snapshots from the BOI LTR website.

 

 

 

 

 

[marino28]

I was thinking about something:

 

For those investing in Thailand:

 

You send money, buy a condo or other property so far, so good. Then, you apply for a visa. If approved, you get the visa.

 

I believe the tax exemption starts from the moment you have the visa. But what about the money sent earlier for the required investment? Is that also exempt or not?

 

For example, if someone gets the visa in March 2025, are they tax-exempt for the entire 2025 or only from March onward? Normally, tax rules are based on the calendar year, but here it’s unclear.

 

Has anyone else thought about this?

[Pib]

45 minutes ago, marino28 said:

I was thinking about something:

 

For those investing in Thailand:

 

You send money, buy a condo or other property so far, so good. Then, you apply for a visa. If approved, you get the visa.

 

I believe the tax exemption starts from the moment you have the visa. But what about the money sent earlier for the required investment? Is that also exempt or not?

 

For example, if someone gets the visa in March 2025, are they tax-exempt for the entire 2025 or only from March onward? Normally, tax rules are based on the calendar year, but here it’s unclear.

 

Has anyone else thought about this?

 

 

That could be one of those Catch 22 scenario's "if", repeat if you had 180 days or more residence in Thailand during the tax year before getting the LTR visa.....but if having less than 180 days residence it would not be a player as you would not be a tax resident regardless of what type of visa you have/got....a Non Immigration visa, a LTR visa, etc.      So, I guess a farang moving to Thailand and buying a condo would want to ensure during the year they apply for/get approved for an LTR visa they have less than 180 days in Thailand which makes them a non-resident for tax purposes....OR ensure the funds being remitted to Thailand are not taxable (assessable) under any DTA between the farang's home country and Thailand.

 

I watched some youtube video about a week ago from some legal/tax firm  where people had raised that question regarding buying condo and how this would affect the real estate market.  The answer during the video was the real estate market was not expected to be impacted significantly as long as foreigner buyers who plan to reside in Thailand control how many days they have in country during the year they get any type of visa such as an LTR visa...that first year may need some extra attention on how many days spent in Thailand.   

 

AND of course any DTA between the farang's home country and Thailand would need to be taken into consideration because simply remitting money to Thailand AND being in Thailand at least 180 days does "not" automatically mean the funds are taxable if the source of the funds is non-assessable under the DTA. 

 

 

[Pib]

13 hours ago, Ben Zioner said:

Isn't that enough?

 

https://www.facebook.com/photo/?fbid=606335655443852&set=pb.100082022670381.-2207520000

 

 

12 hours ago, Pib said:

Glad its official but still no update on BOI LTR website which is the main LTR website.  Guess they are still working to update the website.

https://ltr.boi.go.th/

 

Thanks again for Ben Zioner pointing out where BOI put some docs on their Facebook page (but still not on the main LTR BOI webpage as of this date/time)....guess it will take a while to get the main LTR webpage updated in all its various pages, docs, etc.   

 

Anyway, below is the BOI graphic they put on their Facebook page (in case you don't use Facebook) and the Facebook link to the official doc only in Thai language.   Since the official document is a PDF file extension it can't be uploaded to AseanNow as AseanNow currently does not allow PDF uploads.   

 

Facebook link..it may take you directly to the BOI doc without needing to log onto Facebook...doc is in Thai language

https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.boi.go.th%2Fupload%2Fcontent%2Fpor3_2568.pdf%3Ffbclid%3DIwZXh0bgNhZW0CMTAAAR2aSUSSW6L8x0mNJgF0WtAKz3jrTOyXSnq8J6-tqxfpnzyP2rn49dnTSxg_aem_qweDtYUUkr0G7S2w7P0gtw&h=AT0Usk4uZzn8zFGUGfNhCA0TOVjovuzMyrM-nWw2uG9ZfJTfxcxRupI7J49e4sKKzOJZl2fBqVoWCIGykSuJkd4wAiFDMM5-sqVlhlEf66SyqYamz3i6y3lCvYJkrOvkxqhVxhYAoH6byvz6ozTM&__tn__=-UK*F

 

BOI Graphic from their BOI Facebook Page

 

 

 

 

 

 

[Pib]

I just noticed from the graphic above and Google translate of the BOI official doc/press release that the change for the "Dependents" visa will go in effect after the Ministry of Interior issues its formal doc which I guess is still uninsured.