LTR Visa is Now available for Long Term Residency

[JimGant]

41 minutes ago, ThailandRyan said:

It is why I applied, to free up the 800k held hostage for 3 years and only earning 7k in interest over that period...sad.

I always smile at this argument. My 800k to Thailand came from the left side of my retirement portfolio, ie, the mattress side, or the preservation of capital side. At USAA, it earns .08% in a savings account (my Bangkok Bank earns .25% -- but, hey, why quibble about nothing vs nothing...). I guess I could repatriate my 800k, and put it into CDs, paying slightly more than Bangkok Bank -- but why? My 35% of retirement portfolio in securities has, lately, bounced up and down $10,000/day (mostly down). Why would I worry about chump change earnings in regards to my 800k baht here, or there?

 

The other aspect of this is, all of my estate is financial, and except for what's in Bangkok Bank, this is all in the US. Now, my American nephews and nieces are tabbed as beneficiaries for the IRA and insurance accounts, and as POD (Pay on Death) recipients for my other financial accounts. No lawyer needed, no probate -- easy peasy for the US relatives.

 

But my Thai relatives? With no SSN or ITIN, there's no POD or beneficiary route to have designated assets sent their way upon my death. I'm not about to hire a US lawyer just for this aspect. Solution? Bring most of what I want to leave to those Thai relatives over to my bank accounts here in Thailand. No, I don't lay awake at night worrying about the soundnest of Thai banks. And I don't worry about .08% vs .25% in interest differences -- the daily FX change shatters that comparison.

 

So, I guess I'll continue to chuckle when I read about folks who argue about all the money they're losing by parking 800k in a Thai bank. To me, this sounds like their entire retirement portfolio is in securities....... If that's the case, then, yeah, they're definitely not in a flexible situation -- to allow the left end of their retirement portfolio to reside in Thailand. 

 

 

[gajah]

Has anybody seen the forms to apply for the LTR Retirement visa? Or the detailed requirements, such as how to prove income and health care insurance?

[Karma80]

1 hour ago, gajah said:

Has anybody seen the forms to apply for the LTR Retirement visa? Or the detailed requirements, such as how to prove income and health care insurance?

https://ltr.boi.go.th - download the forms and the requirement document checklist there.

[ThailandRyan]

1 hour ago, JimGant said:

I always smile at this argument. My 800k to Thailand came from the left side of my retirement portfolio, ie, the mattress side, or the preservation of capital side. At USAA, it earns .08% in a savings account (my Bangkok Bank earns .25% -- but, hey, why quibble about nothing vs nothing...). I guess I could repatriate my 800k, and put it into CDs, paying slightly more than Bangkok Bank -- but why? My 35% of retirement portfolio in securities has, lately, bounced up and down $10,000/day (mostly down). Why would I worry about chump change earnings in regards to my 800k baht here, or there?

 

The other aspect of this is, all of my estate is financial, and except for what's in Bangkok Bank, this is all in the US. Now, my American nephews and nieces are tabbed as beneficiaries for the IRA and insurance accounts, and as POD (Pay on Death) recipients for my other financial accounts. No lawyer needed, no probate -- easy peasy for the US relatives.

 

But my Thai relatives? With no SSN or ITIN, there's no POD or beneficiary route to have designated assets sent their way upon my death. I'm not about to hire a US lawyer just for this aspect. Solution? Bring most of what I want to leave to those Thai relatives over to my bank accounts here in Thailand. No, I don't lay awake at night worrying about the soundnest of Thai banks. And I don't worry about .08% vs .25% in interest differences -- the daily FX change shatters that comparison.

 

So, I guess I'll continue to chuckle when I read about folks who argue about all the money they're losing by parking 800k in a Thai bank. To me, this sounds like their entire retirement portfolio is in securities....... If that's the case, then, yeah, they're definitely not in a flexible situation -- to allow the left end of their retirement portfolio to reside in Thailand. 

 

 

My Amex High Yield savings where I pulled it from 3 years ago for the initial extension of stay based on my O-A visa is currently at 1.75%, while I have a 1 year CD with my CU making 2.6%....so 22k USD will make more than my Kbank FD account has been. Plenty of funds in my Stock portfolios, and elsewhere in 3 rental houses, no Thai relatives except my half Thai daughter who lives with her mother in the US and a stepfather who is adopting her, and I have no issues with that.

Edited September 2, 2022 by ThailandRyan

[Misty]

9 hours ago, Karma80 said:

Sorry to hear that. That's very shortsighted and lacks understanding of the corporate structures of many listed companies.

1 million people they reckon? Seems like they want a whole bunch of retirees and not much else.

Agreed that they need to rethink this.  My guess is this program may get off to a slow start, but will evolve overtime.

 

For me the attraction is the length of the visa/work permit combination and the removal of all the hassles and changeable, seemingly arbitrary requirements needed for NonB visa, and separate work permit, annual extensions.   Also as bonuses it's great there's no need for 90 day reporting or re-entry permits, and airport hassle is supposed to be minimalized too. 

[DjChris28]

I just talked to my tax account. He says that the income we receive while working remotely in thailand would be classed as Thai sourced income, not foreign income - Even though it is a foreign overseas company paying us into a foreign bank account. But because we are doing work in thailand, it is considered "thai sourced". And thai sourced income is taxable even if you spend less than 180 days in the country. The other thing which can save you is a double taxation agreement.

Edited September 2, 2022 by DjChris28

[Misty]

8 minutes ago, DjChris28 said:

I just talked to my tax account. He says that the income we receive while working remotely in thailand would be classed as Thai sourced income, not foreign income - Even though it is a foreign overseas company paying us into a foreign bank account. But because we are doing work in thailand, it is considered "thai sourced". And thai sourced income is taxable even if you spend less than 180 days in the country. The other thing which can save you is a double taxation agreement.

That's what I've always been told by tax professionals. Income from working ("active") is classified differently from income from other activities such as investing ("passive").  And taxation works differently for active versus passive income. 

 

As you say, income from working while physically located in Thailand is considered "Thai-sourced" and subject to Thai tax.   It doesn't matter if the income is paid into an offshore bank account, the employer/customer is offshore, you leave the funds offshore for more than a year, etc

 

Double taxation agreements help for those who also are subject to tax elsewhere, for example US citizens. But US tax can be substantially reduced or eliminated with the use of foreign tax exclusions and credits.

 

Also, other nationalities who can claim tax residency in Thailand may not owe tax elsewhere.

[DjChris28]

9 minutes ago, Misty said:

That's what I've always been told by tax professionals. Income from working ("active") is classified differently from income from other activities such as investing ("passive").  And taxation works differently for active versus passive income. 

 

As you say, income from working while physically located in Thailand is considered "Thai-sourced" and subject to Thai tax.   It doesn't matter if the income is paid into an offshore bank account, the employer/customer is offshore, you leave the funds offshore for more than a year, etc

 

Double taxation agreements help for those who also are subject to tax elsewhere, for example US citizens. But US tax can be substantially reduced or eliminated with the use of foreign tax exclusions and credits.

 

Also, other nationalities who can claim tax residency in Thailand may not owe tax elsewhere.

So, if anyone is interested. This page: "https://www.rd.go.th/english/766.html" and looking at "Dependent Personal Services" section 2 is what you need to read (For USA one, it's article 16, for australia one it's article 15). Along with the residency section "article 4". 

 

My question is do we need to apply for this to the Thailand revenue department or is it automatically applied as long as we meet the criteria?

[BritTim]

2 hours ago, Misty said:

As you say, income from working while physically located in Thailand is considered "Thai-sourced" and subject to Thai tax.   It doesn't matter if the income is paid into an offshore bank account, the employer/customer is offshore, you leave the funds offshore for more than a year, etc

 

I have heard this argument before, and it always leaves me puzzled. Many tourists end up doing some work while in Thailand on a three-week holiday. How are you supposed to disentangle income from your part time work related activities while on holiday from the rest of your work income?

 

Similarly, let's say I come to Thailand specifically as a purchaser, looking to acquire items while in Thailand. There is no question that I am working and physically present in Thailand, but I have never heard of someone being taxed during this business trip.

[Misty]

19 minutes ago, BritTim said:

I have heard this argument before, and it always leaves me puzzled. Many tourists end up doing some work while in Thailand on a three-week holiday. How are you supposed to disentangle income from your part time work related activities while on holiday from the rest of your work income?

 

Similarly, let's say I come to Thailand specifically as a purchaser, looking to acquire items while in Thailand. There is no question that I am working and physically present in Thailand, but I have never heard of someone being taxed during this business trip.

I agree, all great questions.  I'd welcome a tax professional to answer them (I'm not in that category).  Just passing on what the professionals have told me Thai law says.

 

Practically speaking, I've heard that answering emails on a vacation or visiting Thailand for a business meeting isn't really an issue.

 

On the other hand, you'll see people living in Thailand and working online or paid offshore claiming the Thai tax code says their income is only taxable if they bring the funds into Thailand in the year it's earned.  Tax professionals say that's wrong.

 

 

[BritTim]

1 hour ago, Misty said:

On the other hand, you'll see people living in Thailand and working online or paid offshore claiming the Thai tax code says their income is only taxable if they bring the funds into Thailand in the year it's earned.  Tax professionals say that's wrong.

I am also not a tax professional. However, this page from a Thai Revenue Department website suggests different to me (and I think is the source of the opinion that overseas income is only taxable if brought into Thailand): https://www.rd.go.th/english/6045.html

 

Quote

1.Taxable Person

Taxpayers are classified into “resident” and “non-resident”. “Resident” means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand.

I do not see any suggestion that there is an exception for income earned overseas while resident in Thailand, unless you bring that money into Thailand.

[Misty]

1 hour ago, BritTim said:

I am also not a tax professional. However, this page from a Thai Revenue Department website suggests different to me (and I think is the source of the opinion that overseas income is only taxable if brought into Thailand): https://www.rd.go.th/english/6045.html

 

I do not see any suggestion that there is an exception for income earned overseas while resident in Thailand, unless you bring that money into Thailand.

I think the answer may lie in the definition of "income earned overseas" - if it is earned by someone working in Thailand, it is considered "Thai sourced income," or "Thai earned income."  It isn't "income earned overseas."  Overseas income would be passive in nature -  such as dividends or interest received.

 

At least that's how it's been explained to me by Thai tax professionals.  And again, I am not a tax professional and would welcome one to jump on here.

 

 

 

 

[MRToMRT]

It's an interesting option for those who already live in Thailand and qualify. For me would be worth it (if I qualified or still lived in Thailand) just to reduce the bureaucracy of the 90 and CW.

 

But as someone who has already moved to another country (EU) already the big question is will this visa attract new applicants who don't already live in Thailand? Not many I would think. For retirees the income should have been less (much less) and for others 17 percent tax is not great when u can get 10% in some GOOD EU countries for 10 years.

 

 

Edited September 2, 2022 by MRToMRT

[mudcat]

As a prospective 'wealthy pensioner' already living in Thailand the program works for me.  I am fortunate in having both U.S. Social Security and a government pension to qualify as a wealthy pensioner. Those from other countries where there is a social safety net often receive lesser pensions but much more government support - they fall on the other side of the $80 threshold and many of the benefits they received at home do not accompany them here.  

 

I agree with the above comments that the program will not attract many new truly wealthy residents under the other programs that require moving real capital or working here or from here - way too complicated but one or the other seem to be of interest to those trying to make it work for them.

 

For me the program will work similarly to how a retirement extension used to work when a letter from the Embassy sufficed and my ties to Thailand were limited.  Now with a marriage and a life here, this program gives me some assurance that, so long as they don't change the qualifying criteria, I can rest easy for 10-year or until I choose to leave.  

 

I am awaiting my renewed passport to file - one less thing to do with immigration in a few short years, one less thing to put on the calendar. \

 

 

[DjChris28]

9 hours ago, Misty said:

I think the answer may lie in the definition of "income earned overseas" - if it is earned by someone working in Thailand, it is considered "Thai sourced income," or "Thai earned income."  It isn't "income earned overseas."  Overseas income would be passive in nature -  such as dividends or interest received.

 

At least that's how it's been explained to me by Thai tax professionals.  And again, I am not a tax professional and would welcome one to jump on here.

 

 

 

 

I think it is like this:

 

On The Thailand Tax Side:

a) Work physically in Thailand for USA employer being paid into USA bank account - Thai sourced.

b) Work physically in USA for USA employer being paid into usa bank account - Foreign sourced.

 

On The USA Tax Side:

c) Work physically in Thailand for USA employer being paid into USA bank account - Foreign sourced.

d) Work physically in USA for USA employer being paid into usa bank account - USA sourced.

 

And then how long you stay in each country and also where you have a permanent place of stay will determine how much tax is paid on those income types on all country sides (For example, working in thailand for a usa employer means that you are earning thai sourced income for the thai tax side of things but also earning foreign income on the usa side of things at the same time). So for example, if you stay less than 180 days in Thailand and work 9 months in the USA, those 9 months are not taxable (in thailand) since it is foreign income (see point b) and foreign income is not taxed under 180 days in thailand.

 

The thing to understand is that when point a is true, point c is also true. and when point b is true, point d is true as well. 

Edited September 3, 2022 by DjChris28

[JimGant]

7 hours ago, mudcat said:

As a prospective 'wealthy pensioner' already living in Thailand the program works for me.

Yeah, me too. Air Force pension for 20 years service, plus Social Security, in 2022 comes in $2000 short of the $80,000 requirement (so, with all the US military retirees in Thailand, this may be less a hurdle than at first glance). Now, I had to cash in $13,250, for the Required Minimum Distribution of my conventional (ie, non Roth) IRA. Thus, I've got two 1099-Rs, plus an SSA-1099, reporting my retirement income well in excess of $80k. Certainly acceptable by BOI ('tho it's historical, not current income, but certainly ways around that....). And for those with Roth IRAs, who needed to bridge the gap to $80k - I'm sure documentation of payout from those would be acceptable in lieu of a 1099. Anyway, Yanks, whatever your IRA -- this could bridge you to BOI's requirement.

 

Anyway, just went thru the retirement extension goat rope, with an OA visa baseline, and thus the Thai medical insurance requirement, even tho' I have unlimited Tricare coverage. Thus, looking at paying 70k baht insurance premium, per year, for each of the next years' retirement extensions -- as I really don't think Tricare and the US Embassy will find an acceptable format for Tricare to be accepted for extensions....

 

.....but the LTR package allows self insurance, simply by showing my $100k savings account in the US, which is a no brainer for me. Thus, next 10 years -- 700K baht in premium savings(?) from that unnecessary OA extension health care. And, I guess, no more one year trips to Immigration -- now, every five years (worth something, at age 77-82). Other perks don't resonate -- no more 90 day reporting is no longer an issue, with the effective online reporting. And streamlined immigration at airport, plus no need for re-entry permits -- non player, as I don't travel. And being able to repatriate my 800k baht in retirement bank account -- again, a non player, as I plan to add more, not subtract.

 

But, in sum, this looks like a good deal. And BOI comes across as very professional, with no hiccups in English translation, and with straightforward explanations, with their proviso that subsequent tweaks will occur, as required. Compared to other Thai gov't operations -- a breath of fresh air.

[mudcat]

When does the military announce next year's COLA?  Social Security announces in November and next year's benefit letters shortly thereafter.  If you are only $2K short it may make sense to wait if you can 

 

 

[stuarty]

Does anyone know whether the $100,000 (instead of having health insurance) must be kept deposited in Thailand or can be in any overseas bank, or combination of both?

Copy of health insurance

• Minimum coverage of 50,000 USD for hospitalization treatment in Thailand
• The stamp and the signature of the insurance company are mandatory
• Submission of this document can be done separately at a later date before a notification letter is issued

OR

• Evidence showing valid social security benefits which insures hospitalization and treatment in Thailand

OR

• Bank statement for the last 12 months, showing a deposit of no less than 100,000 USD and additional 25,000 USD per one dependent which has been held for at least 12 months

[Alotoftravel]

50,000 processing fee question.

 

i understand ltr 10 years is really 5 years renewable stamp . So when we renew , we assume we do not have to pay . However  if it is not renewed , we lose it, 5 years worth?

today with visa and multiple entry permit :

1900+3200=5100 baht /yr which is more than the fee of 50k, 

not bad if we get the whole 10 years term . 

is this correct ? 

[ThailandRyan]

1 minute ago, Alotoftravel said:

50,000 processing fee question.

 

i understand ltr 10 years is really 5 years renewable stamp . So when we renew , we assume we do not have to pay . However  if it is not renewed , we lose it, 5 years worth?

today with visa and multiple entry permit :

1900+3200=5100 baht /yr which is more than the fee of 50k, 

not bad if we get the whole 10 years term . 

is this correct ? 

Yep....that's the sum of things.

[JimGant]

5 hours ago, mudcat said:

If you are only $2K short it may make sense to wait if you can 

Because of the law requiring a "Required Minimum Distribution" (RMD) of those tax deferred dollars accumulated in your IRA, I was hoisted over the $80k threshhold. But, if I needed more than the RMD to meet this threshold, subtracting from the IRA whatever's needed should satisfy the BOI's requirement to meet the 80k.

[JimGant]

5 hours ago, stuarty said:

Does anyone know whether the $100,000 (instead of having health insurance) must be kept deposited in Thailand or can be in any overseas bank, or combination of both?

From a July 19 post by Mudcat, asking for clarification:

Quote

Their reply

To clarify "hospitalization and treatment", we do not specify if it is an inpatient hospitalization or outpatient treatment. We only need insurance that meets the $50,000 USD coverage which ensures hospitalization and treatment in Thailand. OR You can show 100,000 USD in a bank account (can be in Thailand or overseas) which has been held for at least 12 months at the time of application which is acceptable as well.

 

[Northwest87]

13 hours ago, JimGant said:

Yeah, me too. Air Force pension for 20 years service, plus Social Security, in 2022 comes in $2000 short of the $80,000 requirement (so, with all the US military retirees in Thailand, this may be less a hurdle than at first glance). Now, I had to cash in $13,250, for the Required Minimum Distribution of my conventional (ie, non Roth) IRA. Thus, I've got two 1099-Rs, plus an SSA-1099, reporting my retirement income well in excess of $80k. Certainly acceptable by BOI ('tho it's historical, not current income, but certainly ways around that....). And for those with Roth IRAs, who needed to bridge the gap to $80k - I'm sure documentation of payout from those would be acceptable in lieu of a 1099. Anyway, Yanks, whatever your IRA -- this could bridge you to BOI's requirement.

 

Anyway, just went thru the retirement extension goat rope, with an OA visa baseline, and thus the Thai medical insurance requirement, even tho' I have unlimited Tricare coverage. Thus, looking at paying 70k baht insurance premium, per year, for each of the next years' retirement extensions -- as I really don't think Tricare and the US Embassy will find an acceptable format for Tricare to be accepted for extensions....

 

.....but the LTR package allows self insurance, simply by showing my $100k savings account in the US, which is a no brainer for me. Thus, next 10 years -- 700K baht in premium savings(?) from that unnecessary OA extension health care. And, I guess, no more one year trips to Immigration -- now, every five years (worth something, at age 77-82). Other perks don't resonate -- no more 90 day reporting is no longer an issue, with the effective online reporting. And streamlined immigration at airport, plus no need for re-entry permits -- non player, as I don't travel. And being able to repatriate my 800k baht in retirement bank account -- again, a non player, as I plan to add more, not subtract.

 

But, in sum, this looks like a good deal. And BOI comes across as very professional, with no hiccups in English translation, and with straightforward explanations, with their proviso that subsequent tweaks will occur, as required. Compared to other Thai gov't operations -- a breath of fresh air.

Hi. Your post is a bit cryptic to me. Keep in mind I have no experience with OA extensions, but I don't understand the ref to Tricare or the US Embassy: do you mean they won't certify that you have valid health insurance for the purpose of providing certification for your current visa extension?

 

Same question for the LTR. You state that you have Tricare, which is way more than what the BOI is asking for. Now, I understand that it may insist (I'm not sure anymore)  on the 10-months/$50K justification even if you are personally insured by the Queen of England, and that perhaps they will not budge on that. Proving the 50K requirement is not a problem, but will Tricare not provide you with a written certificate that you are insured at least for the coming 10 months from the date of your application?

 

I ask because I have the roughly equivalent civilian type of insurance and I'm going to hit the same hurdles if the 10-months thingy is an issue, and at one point I suppose I'd have to hit Aetna (the plan administrator) for a letter of justification. I'll be applying around Oct-Nov.

 

NW

Edited September 3, 2022 by Northwest87

[keemapoot]

32 minutes ago, Northwest87 said:

 

 

I ask because I have the roughly equivalent civilian type of insurance and I'm going to hit the same hurdles if the 10-months thingy is an issue, and at one point I suppose I'd have to hit Aetna (the plan administrator) for a letter of justification. I'll be applying around Oct-Nov.

 

NW

Yup, I have Cigna with the same issue, which is a 2 million dollar limit so vastly above what is required, but the term runs from Jan 1 to Dec 31 each year. Therefore, I will have to wait and time my application after Jan 1 but before the end of Feb. This seems to be a silly "jump through the hoops" issue as with yearly issued private insurance you can only apply when you have 10 months of coverage left.

[mudcat]

I raised the question about 10-month validity for an existing policy during the webinar (receiving an expression of understanding of the issue); having no official response I followed up with and an email to the webinar presenter, presenting my current policy and three-years of signed receipts - no answer as of yet: 

 

Could you please direct this question to Ms Kantarot Laopradith who presented the August 19th webinar.

 

Dear Ms  Kantarot Laopradith

 

You were so kind to respond to a number of questions I had during the webinar.  I want to present more detailed information about my situation in regards to LTR's requirement for 10-months of remaining health insurance validity at the time of the BoI's final approval letter.

 

My question during the webinar was whether there could be some forbearance for those of us who have maintained LTR compliant coverage over a number of years.  This allows those of us with an existing LTR compliant policy to be approved based on that basis contingent upon your  review.  As most health insurance policies issue on an annual basis, requiring 10-months of remaining validity for those of us with existing coverage creates about a 2-month window for approval between invoice being presented, payment being made, and the signed receipt being received.  

 

One of the important advantages of the LTR visa is the rational health insurance requirement unlike some of the immigration issued extensions such as the shifting and bewildering health insurance  requirements for those extending an OA visa, causing much angst in that community.  

 

The LTR opens up the opportunity to put my health insurance dollars where they are most protective of my health and finances. I plan to modify my existing policy, by dropping my outpatient coverage and increasing my deductible from 20,000 to 40,000 ThB.  The savings generated will more than allow me to increase my total cover from 3-million to 5-million ThB.

 

I have reached out to Pacific Cross but have been informed that they will re-open a policy only upon renewal, which in my case is January 12, setting my earliest receipt back into late December even if I turn around their invoice on the same day.  

 

I would appreciate hearing whether the LTR program can give consideration for those like myself who have maintained LTR compliant health insurance over time.

 

 

I attach the last three years of coverage receipts, my schedule of benefits, and my analysis spreadsheet.

[pepper402]

1 hour ago, mudcat said:

I raised the question about 10-month validity for an existing policy during the webinar (receiving an expression of understanding of the issue); having no official response I followed up with and an email to the webinar presenter, presenting my current policy and three-years of signed receipts - no answer as of yet: 

 

Could you please direct this question to Ms Kantarot Laopradith who presented the August 19th webinar.

 

Dear Ms  Kantarot Laopradith

 

You were so kind to respond to a number of questions I had during the webinar.  I want to present more detailed information about my situation in regards to LTR's requirement for 10-months of remaining health insurance validity at the time of the BoI's final approval letter.

 

My question during the webinar was whether there could be some forbearance for those of us who have maintained LTR compliant coverage over a number of years.  This allows those of us with an existing LTR compliant policy to be approved based on that basis contingent upon your  review.  As most health insurance policies issue on an annual basis, requiring 10-months of remaining validity for those of us with existing coverage creates about a 2-month window for approval between invoice being presented, payment being made, and the signed receipt being received.  

 

One of the important advantages of the LTR visa is the rational health insurance requirement unlike some of the immigration issued extensions such as the shifting and bewildering health insurance  requirements for those extending an OA visa, causing much angst in that community.  

 

The LTR opens up the opportunity to put my health insurance dollars where they are most protective of my health and finances. I plan to modify my existing policy, by dropping my outpatient coverage and increasing my deductible from 20,000 to 40,000 ThB.  The savings generated will more than allow me to increase my total cover from 3-million to 5-million ThB.

 

I have reached out to Pacific Cross but have been informed that they will re-open a policy only upon renewal, which in my case is January 12, setting my earliest receipt back into late December even if I turn around their invoice on the same day.  

 

I would appreciate hearing whether the LTR program can give consideration for those like myself who have maintained LTR compliant health insurance over time.

 

 

I attach the last three years of coverage receipts, my schedule of benefits, and my analysis spreadsheet.

Mudcat, your pose a valid question (I have the same issue), and sent a very-well written letter. I can't help but wonder if simplifying the language and leaving out non-essential text would make it easier to get a response from a likely non-native English speaker.   Just a thought. 

[anrcaccount]

Bumping this to see if anyone has any insight?

 

On 8/29/2022 at 7:15 PM, DodgerRodger said:

I have just received further clarification from BOI, which reads,

 

After received LTR visa, you would like to leave Thailand, your visa permit will be remain. However, for the Work-from-Thailand Professional and Highly-Skilled Professional categories, your visa will be terminated if your quit the job from the endorsed company.

Kind regards, LTR Visa Unit

So based on your two responses from the BOI, taking example of 'Work from Thailand Professional Category', do you think this is a fair summary? 

 

• If you are granted the visa after application, it is valid for 5 years multiple entry.
• There is a 1 year address reporting requirement which could be avoided altogether if the holder leaves the country at least once per year.
• The BOI will do no checking or validation of the visa conditions or your continued employment status during that 5 years.
• Immigration will do no checking or validation of the visa conditions or your continued employment status during that 5 years.
• If you decide to self declare that your employment has ended, your visa will be terminated. 

 

Be interested to check if there are any penalties in that case above, or just a visa termination? 

[JimGant]

9 hours ago, Northwest87 said:

but will Tricare not provide you with a written certificate that you are insured at least for the coming 10 months from the date of your application?

Don't know. The Tricare Overseas Program, with Singapore servicing Thailand, are pretty professional and helpful in my experience. Now, if LTR only required a letterheaded one page, stating that I meet their insurance requirement -- maybe Singapore would cooperate. But, since Tricare doesn't issue policies, they and LTR folks might end up on different frequencies. And Singapore would punt if too much red tape. Anyway, that's why the option to self-insure, which fits nicely with me, was such welcomed news.

[DodgerRodger]

6 hours ago, anrcaccount said:

 

 

So based on your two responses from the BOI, taking example of 'Work from Thailand Professional Category', do you think this is a fair summary? 

 

• If you are granted the visa after application, it is valid for 5 years multiple entry.
• There is a 1 year address reporting requirement which could be avoided altogether if the holder leaves the country at least once per year.
• The BOI will do no checking or validation of the visa conditions or your continued employment status during that 5 years.
• Immigration will do no checking or validation of the visa conditions or your continued employment status during that 5 years.
• If you decide to self declare that your employment has ended, your visa will be terminated. 

 

Be interested to check if there are any penalties in that case above, or just a visa termination? 

Your analysis matches mine, except that as a potential retiree I am not considering the employment aspect in my calculations.  Such a pity that BOI can't take on board these types of questions and publish more detailed requirements and a set of FAQs

[Misty]

1 hour ago, DodgerRodger said:

Your analysis matches mine, except that as a potential retiree I am not considering the employment aspect in my calculations.  Such a pity that BOI can't take on board these types of questions and publish more detailed requirements and a set of FAQs

Agreed, hopefully FAQs are in the works as the LTR program gets rolled out.

 

I've heard the BoI, as a professionally-run Thai institution, was some what reluctantly roped into overseeing the new program. No doubt some toes were stepped on in doing so. And although the program itself was announced as much as a year ago, the rules & regulations supporting it were only very recently approved.  To me it looks like the BoI is was dealt a difficult hand and is doing pretty well with it.  Let's hope things improve from here.