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.  

[Pib]

2 hours ago, Pib said:

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.  

Whoops...typo...meant to write "...is still  unissued."

[treetops]

22 hours ago, Sigmund said:

No way I'm ever going to even have my name on any such long term visa. How to prouve you did not stay more then 180 days ?

 

Your local immigration office can supply paperwork showing this information.

[JohnnyBD]

10 hours ago, treetops said:

On 2/11/2025 at 10:38 AM, Sigmund said:

No way I'm ever going to even have my name on any such long term visa. How to prouve you did not stay more then 180 days ?

 

Your local immigration office can supply paperwork showing this information.

Thai airport IM will stamp your passport when you leave and again when you return, the same as any other visa category. That's the proof of how many days one stayed in Thailand. Am I missing something?

[BrandonJT]

17 minutes ago, JohnnyBD said:

Thai airport IM will stamp your passport when you leave and again when you return, the same as any other visa category. That's the proof of how many days one stayed in Thailand. Am I missing something?

Most people now leave through automated gates and do not receive an exit stamp.

[JohnnyBD]

12 hours ago, BrandonJT said:

Most people now leave through automated gates and do not receive an exit stamp.

Thanks for pointing that out. I see where that could be a problem if one is trying to prove how many days one stayed in-country. I still use the fast track/priority area and IM stamps my passport, so it's easy to prove my time in-country.

[BrandonJT]

2 hours ago, JohnnyBD said:

Thanks for pointing that out. I see where that could be a problem if one is trying to prove how many days one stayed in-country. I still use the fast track/priority area and IM stamps my passport, so it's easy to prove my time in-country.

Fast track now has automated gates as well as of about a month or two ago.

[marino28]

https://www.nationthailand.com/business/banking-finance/40046276

[Ben Zioner]

2 hours ago, marino28 said:

https://www.nationthailand.com/business/banking-finance/40046276

Yes it seems they want to attract that have reached maturity overseas and can't be repatriated due to IT gouging. So, no worries, they'll fine tune for the rich Thai, while the good old foreign pensioner will be squeezed to the most obscene extent.

 

My understanding is that to be remittnce tax exempt they will have to season their money in some dedicated local funds. Nothing I can truly understand, not my world.

[Pib]

2 hours ago, Ben Zioner said:

My understanding is that to be remittnce tax exempt they will have to season their money in some dedicated local funds. Nothing I can truly understand, not my world.

 

Where you said "My understanding is...." implies you read/heard somewhere else they might use a dedicated local funds method.  Can you expand on what you mean and where you heard/read this?   Thanks.

[Pib]

On 2/7/2025 at 7:53 PM, Pib said:

If, repeat, if Thailand has the same definition of "previous tax year" as India does, then regardless of when the income was derived, last year or today, income submitted to Thailand would be tax free for those with LTR Visas (except the LTR HSP visa).

 

If so, then I guess a person must view the TRD Royal Decree wording talking "derived from previous tax year" from the "time" standpoint point of when it's Jan-Mar 2025 Thai tax return filing time the previous tax year would 2024.   Come Jan-Mar 2026 Thai tax filing time the previous tax year would be 2025...etc....etc....etc.

 

https://tax2win.in/tax-glossary/previous-year#:~:text=The year in which income,March of the next year.

 

 

 

AND above is supported by below Siam Legal regarding what "previous tax year" means at the Thailand Revenue Department.  So, the answer BOI LTR gave to @JimGant does seem to mean if I remit money to Thailand today/7 Feb 2025 then it is not assessable/taxable since for those who have an LTR Pensioner, Work from Thailand Professional, or Wealthy Global visa.

 

https://www.siam-legal.com/Business-in-Thailand/thailand-income-tax-for-foreigners.php#:~:text=Thai Tax Year%3A The Thai,must file twice a year.

 

 

 

Below is another explanation of the new tax rule explaining "previous tax year" from a business consulting firm in Thailand. 

 

 I think it does a good job of explaining "previous tax year" which for us right now during the Jan-Mar 2025 tax filing season the previous tax year is 2024.   So, for those with the right kind of LTR visa any funds remitted in 2024 are tax exempt.     And if you remitted any funds say from 1 Jan 2025 until today (14 Feb 2025) or even on 31 Dec 2025 when it comes tax filing season of Jan-Mar 2026 for the "previous tax year" of 2025 once again those funds you remitted in 2025 are tax exempt.   Ditto for ensuing years.   

 

And as a reminder at the bottom I included a snapshot from the Revenue Dept 743 decree saying folks with certain types of LTR visas are exempt of income tax for income derived in the previous tax year.

 

 

https://www.rsm.global/thailand/insights/new-change-and-effects-thailand-personal-income-tax

 

 

 

Snapshot from the RD 733 decree

 

[deja vu again]

BOI just replied to my question regarding whether I need to file a return with the TRD.   

 

I specifically noted the many conflicting interpretations in online forums regarding the "Royal Decree 743" and the "Notification of the Director-General of the Revenue Department Regarding Income Tax (No. 427)” in my question so they would account for this in their answer.  (I'm a LTR WP)

 

"Greetings from the LTR Visa Unit.

 

The tax exemption benefit applies to income transferred from overseas into Thailand. Other asset types may not qualify. If you have no income source within Thailand and the income was transferred after obtaining the LTR Visa, you are exempt from tax and do not need to report annually to the Thai Revenue Department. 

 

A TIN (Tax Identification Number) is optional and not required if you have no income source in Thailand or if the income was transferred after holding the LTR Visa."

 

... and their subsequent reply to my request for further clarification:

 

"Your income earned outside Thailand and not transferred into the country is not subject to taxation by the Thai Revenue Department.  Therefore, you do not need to file a tax return for income sourced outside of Thailand."

 

Cheers

 

 

[oldcpu]

37 minutes ago, deja vu again said:

BOI just replied to my question regarding whether I need to file a return with the TRD.  

....

The tax exemption benefit applies to income transferred from overseas into Thailand. Other asset types may not qualify. If you have no income source within Thailand and the income was transferred after obtaining the LTR Visa, you are exempt from tax and do not need to report annually to the Thai Revenue Department. 

 

A TIN (Tax Identification Number) is optional and not required if you have no income source in Thailand or if the income was transferred after holding the LTR Visa."

...

"Your income earned outside Thailand and not transferred into the country is not subject to taxation by the Thai Revenue Department.  Therefore, you do not need to file a tax return for income sourced outside of Thailand."

 

 

Thanks ... i think you are the 3rd person who has posted such or something similar. It is DEFINITELY worth repeating.

 

BoI are quite firm in their understanding.  The Thai RD help line in essence said the same thing to one of our forum users.

 

It still disappoints me (and gets me suspicious of ulterior motives)  that some so called tax advisors on youtube (incorrectly) stay otherwise.

[Ben Zioner]

24 minutes ago, oldcpu said:

It still disappoints me (and gets me suspicious of ulterior motives)  that some so called tax advisors on youtube (incorrectly) stay otherwise.

Some of theses have an axe to grind for LTR. In particular BH who, in every single one of his nonsensical videos, works himself up into some hissing fit against the LTR visa.

[SingAPorn]

On 2/13/2025 at 1:15 AM, JohnnyBD said:

Thai airport IM will stamp your passport when you leave and again when you return, the same as any other visa category. That's the proof of how many days one stayed in Thailand. Am I missing something?

yes because on departure when going down the escalator you fall on those people directing which line. They send foreigners  to the automated gates, fine it's quick. But no stamp of exit. This is potential problems on next visit.

[SHA 2 BKK]

10 hours ago, SingAPorn said:

yes because on departure when going down the escalator you fall on those people directing which line. They send foreigners  to the automated gates, fine it's quick. But no stamp of exit. This is potential problems on next visit.

I’ve used the automated gate 6 times now.    I do travel regularly.   Never once had a problem on re-entry.   I did ask the officer the first time and she said don’t worry.   “It’s all recorded on the computer and we know when you come and go”.   Less stamps now in my passport which for me is a good thing.   

[Ben Zioner]

14 minutes ago, SHA 2 BKK said:

I’ve used the automated gate 6 times now.    I do travel regularly.   Never once had a problem on re-entry.   I did ask the officer the first time and she said don’t worry.   “It’s all recorded on the computer and we know when you come and go”.   Less stamps now in my passport which for me is a good thing.   

Have you asked if they can delivery a statement movements of an alien for any given year, summarising with the number of days stayed in Thailand..

[SHA 2 BKK]

2 hours ago, Ben Zioner said:

Have you asked if they can delivery a statement movements of an alien for any given year, summarising with the number of days stayed in Thailand..

No.  I haven’t mate I have an App that tracks my movements each year in each country.  
 

Because of possible substantive ties (mum and dad, siblings and eldest child) I have to be careful staying in Australia for extended periods.   I do pay tax on income earned there as a Non Tax Resident but don’t wish to be an Australian tax resident as my worldwide capital gains would be taxed.  
 

Apart from the 183 days residency test in Australia, there are other tests such as maintaining principal place of residence, community ties etc in Oz.   Some pilots got done over a few years ago.    Claimed Hong Kong as their tax residency and even though stayed out of Oz more than 183 days, maintained wives, kids and pets in Australia.  Basically fly in and lay out.  
 

Tax Office and subsequent Court Cases agreed they were Australian Tax residents and they had to cough up a lot of back taxes and legal fees.   
 

So I am very careful with my travel back to Australia and that’s where the App comes in Handy.  
 

PS My Tax Advisor in Australia recommends the keeping of a pet it moving out of Australian Tax Residency as it helps to prove your principle place of residence.  

[Ben Zioner]

1 hour ago, SHA 2 BKK said:

PS My Tax Advisor in Australia recommends the keeping of a pet it moving out of Australian Tax Residency as it helps to prove your principle place of residence.  

More so than wives and kids?

[treetops]

6 hours ago, Ben Zioner said:

Have you asked if they can delivery a statement movements of an alien for any given year, summarising with the number of days stayed in Thailand..

 

It's been reported on here that your local immigration office can provide this.

[SHA 2 BKK]

2 hours ago, Ben Zioner said:

More so than wives and kids?

Usually less costly 5555!!