LTR Visa is Now available for Long Term Residency

[Misty]

41 minutes ago, ThailandRyan said:

You will more than likely also end up with the stamp in your PP as I indicated I did and which when translated by another member is the notation allowing the cancelation of the current extension of stay and allowing for the LTR to be placed into the PP.  I talked with someone who had wanted t change from their Non Imm O-A extension to a Non Imm-O visa and they were advised they would need to leave the country to kill off the existing extension, then re-enter on a 30 day visa exempt entry and then apply for the Non-O in Thailand.  Thankfully, the BOI and LTR program keeps us from having to bounce out and in to have the Visa affixed.

The ability to cancel or change an existing visa/visa extension seems to be limited to the BoI and its associated IOs.  Some have described this as the BoI's "magical powers."  

[Pib]

1 hour ago, Boomer6969 said:

So I have my appointment to get the visa next Tuesday, the whole thing was quite relaxed so far, hardly had to lift my lazy bum from the couch to get to this stage.

 

What did you use to satisfy the LTR medical insurance requirement....a Thai insurance policy, foriegn insurance policy, maybe home country social security/government-type coverage, or self-insure with money in financial account(s)?  Thanks.

[ThailandRyan]

47 minutes ago, ThailandRyan said:

You will more than likely also end up with the stamp in your PP as I indicated I did and which when translated by another member is the notation allowing the cancelation of the current extension of stay and allowing for the LTR to be placed into the PP.  I talked with someone who had wanted t change from their Non Imm O-A extension to a Non Imm-O visa and they were advised they would need to leave the country to kill off the existing extension, then re-enter on a 30 day visa exempt entry and then apply for the Non-O in Thailand.  Thankfully, the BOI and LTR program keeps us from having to bounce out and in to have the Visa affixed.

It was well worth it for the 50k 10 year price. It would have run me the additional cost of a trip out and back if they did not cancel my existing extension. Instead I used that money for a celebratory dinner......

[Boomer6969]

58 minutes ago, Pib said:

What did you use to satisfy the LTR medical insurance requirement....a Thai insurance policy, foriegn insurance policy, maybe home country social security/government-type coverage, or self-insure with money in financial account(s)?  Thanks.

Well, they didn't really like my open ended Cigna/UN insurance, because it doesn't show an expiry date. So I sent them some statements from my accounts back in Geneva. That made them happier, but they asked me to provide documents for the bank accounts as well as the insurance. Liked it as it demonstrated a degree of flexibility I was accustomed to after my 7 "Thai Wife" extensions of stay.

[Pib]

Just now, Boomer6969 said:

Well, they didn't really like my open ended Cigna/UN insurance, because it doesn't show an expiry date. So I sent them some statements from my accounts back in Geneva. That made them happier, but they asked me to provide documents for the bank accounts as well as the insurance. Liked it as it demonstrated a degree of flexibility I was accustomed to after my 7 "Thai Wife" extensions of stay.

The reason I asked is because as a U.S. military retiree I have some U.S. govt/military healthcare coverage named Tricare Overseas/Tricare for Life which is "worldwide" coverage....me and the wife have used that coverage here in Thailand since we retired here for well over a decade....great medical coverage. 

 

It's basically a social security/government universal type coverage that does not come with a policy cover sheet that spells out coverage amounts since the coverage is really "unlimited," (i.e., covered for millions of dollars in OPR/IPD if required),  no end/expiration date as long as you are still breathing & are paying the monthly Medicare Part B premium for Tricare for Life if 65 or older..  You can get an Tricare online acct benefit letter that is vanilla in nature that basically just says, "Yes, Pib you are currently enrolled in Tricare and have been for a long time."

 

I would really like to use that Tricare coverage as my medical insurance on the LTR application since I will have that coverage till death....even if I don't have a penny saved in a bank.  But at the same time I don't want to waste my time trying if other LTR applicants have tried using foreign government type coverage which included coverage in Thailand if the BOI is going to reject it simply because it has no expiration, doesn't specially have a policy sheet stating X-amount of coverage (since it really unlimited coverage), basically, doesn't look like a standard commercial/civilian insurance policy.   Instead I would just go the money in a financial/bank acct route and self insure from the get-go in the LTR application.

 

One more question: approx how long after initially submitting your LTR application did it take the BOI say they were not totally satisfied with your insurance docs and they wanted some financial docs also to prove the ability to medically self-insure?  Thanks.  

[Lacrimas]

1 hour ago, ThailandRyan said:

It was well worth it for the 50k 10 year price. It would have run me the additional cost of a trip out and back if they did not cancel my existing extension. Instead I used that money for a celebratory dinner......

It was challenging but you made it to the end, well done

[Pawpal]

On the "Check Status" screen, my application's status has changed several times from "Pending" to  "Processing" and vice versa. Does anyone know what this indicates (or if it indeed indicates anything)?

[Boomer6969]

32 minutes ago, Pib said:

The reason I asked is because as a U.S. military retiree I have some U.S. govt/military healthcare coverage named Tricare Overseas/Tricare for Life which is "worldwide" coverage....me and the wife have used that coverage here in Thailand since we retired here for well over a decade....great medical coverage. 

 

It's basically a social security/government universal type coverage that does not come with a policy cover sheet that spells out coverage amounts since the coverage is really "unlimited," (i.e., covered for millions of dollars in OPR/IPD if required),  no end/expiration date as long as you are still breathing & are paying the monthly Medicare Part B premium for Tricare for Life if 65 or older..  You can get an Tricare online acct benefit letter that is vanilla in nature that basically just says, "Yes, Pib you are currently enrolled in Tricare and have been for a long time."

 

I would really like to use that Tricare coverage as my medical insurance on the LTR application since I will have that coverage till death....even if I don't have a penny saved in a bank.  But at the same time I don't want to waste my time trying if other LTR applicants have tried using foreign government type coverage which included coverage in Thailand if the BOI is going to reject it simply because it has no expiration, doesn't specially have a policy sheet stating X-amount of coverage (since it really unlimited coverage), basically, doesn't look like a standard commercial/civilian insurance policy.   Instead I would just go the money in a financial/bank acct route and self insure from the get-go in the LTR application.

 

One more question: approx how long after initially submitting your LTR application did it take the BOI say they were not totally satisfied with your insurance docs and they wanted some financial docs also to prove the ability to medically self-insure?  Thanks.  

Regarding the health insurance this is what they answered after I made my first submission:

 

"We have checked your documents and found that they are eligible. However, please provide an evidence of health insurance that shows expire date and treatment cover information of your plan for further consideration (the health insurance must have the coverage of no less than $50,000 USD with the remaining maturity of no less than 10 months at the time of application)."

 

As I can't provide evidence of an expiry date that doesn't exist I didn't go any further and submitted my my bank statements. After which I go the following:

 

"Your saving is accepted instead of health insurance policy. It is suggested to upload both Cigna's health insurance policy and your saving when you submit an application."

And this settled it.

 

Regarding the length of the process, for my first inquiries to today's final approval it was about 6 weeks. But bear in mind that they have probably flooded with applications, and not only retirees. Next year they might be under less stress.

 

Anyhow I hope this can help.

 

Best of luck.

[Pib]

Yes...it helps a lot.  Thanks.

[ThailandRyan]

2 hours ago, Pawpal said:

On the "Check Status" screen, my application's status has changed several times from "Pending" to  "Processing" and vice versa. Does anyone know what this indicates (or if it indeed indicates anything)?

It may not indicate anything as they are still experiencing glitches as we have indicated on prior pages within the OP.  I would give the LTR Unit a phone call to discuss your application.

[stuarty]

Pending is more advanced than processing if all is normal on the site

[aublumberg]

Got the ticket, take the ride. ????

[ThailandRyan]

3 hours ago, aublumberg said:

Got the ticket, take the ride. ????

Congratulations you got an actual sticker visa, congrats. When you arrive I wonder if you will get just the 5 year entry stamp and the multiple re-entry permit only.

Edited October 20, 2022 by ThailandRyan

[Misty]

3 hours ago, aublumberg said:

Got the ticket, take the ride. ????

Congratulations!  Please let us know what happens when you go through Immigration upon arrival. 

 

 

[aublumberg]

1 hour ago, ThailandRyan said:

Congratulations you got an actual sticker visa, congrats. When you arrive I wonder if you will get just the 5 year entry stamp and the multiple re-entry permit only.

Well your stamp still wins hand down in the artistic category! Will update when coming into Thailand, potentially end of the month.

[chubby]

is there another source for the requirements other than the graphic?

is it "any of the above" re: the 4 parts of the Graphic?

 

is it this? https://thaiconsulatela.thaiembassy.org/en/publicservice/non-o-x-long-stay-retirement-up-to-10-year

 

afaict, for example, its $1M is assets (is that supposed to be parked in Thailand?)  ,

 

     10.1  Foreigners do not have financial evidence as per stipulated by above qualifications such as:

             –  The sum of money in the bank account is less than 3 million Baht at the end of
                the first year of stay period in Thailand.

             –  The sum of money in the bank account is less than 1.5 million Baht at the end of
                 the second year of stay period in Thailand,

 

2)

$50k of insurance coverage (from which providers?) or deposit $100k in a Thai Bank?

 

3)

a one time payment of ? $400 USD

 

B)

Multi entry for 5 years, then what re-entry permits for 5 years?

[aublumberg]

2 hours ago, chubby said:

is it this? https://thaiconsulatela.thaiembassy.org/en/publicservice/non-o-x-long-stay-retirement-up-to-10-year

This is a different visa type.
 

All LTR requirements are listed in detail on the BOI website https://ltr.boi.go.th.

 

For example:

 

”WEALTHY INDIVIDUALS HOLDING AT LEAST USD 1 MILLION IN ASSETS
 

- At least USD 1 million in assets
- Personal income of a minimum of USD 80,000/ year in the past two years
- Investment of at least USD 500,000 in Thai government bonds, foreign direct investment, or Thai property
- Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit
- Applicants must fulfill all of the above requirements to be eligible for Wealthy Global Citizens application”

[Klonko]

What are the rules for investing in Thai property under the LTR scheme? Condo of course, company probably not, direct ownership with obligation to sell when visa expires?

[mrmagyar]

5 hours ago, Klonko said:

What are the rules for investing in Thai property under the LTR scheme? Condo of course, company probably not, direct ownership with obligation to sell when visa expires?

See recent post on their facebook page

 

[K2938]

1 hour ago, mrmagyar said:

See recent post on their facebook page

 

https://www.facebook.com/LTRVisaThailand/

[Klonko]

1 hour ago, mrmagyar said:

See recent post on their facebook page

 

Thank you, but I am not on Facebook

[Misty]

7 hours ago, Klonko said:

What are the rules for investing in Thai property under the LTR scheme? Condo of course, company probably not, direct ownership with obligation to sell when visa expires?

Try this page from the BOI's LTR visa website:  https://ltr.boi.go.th/page/required-documents.html

 

Click on the appropriate icon for the visa you wish to get, and download the required documents. 

 

As an example, see screenshot below on what it says is required for "Wealthy Global Pensioners"

 

Other than that, you may need to contact the BoI directly to get your questions answered..  Please let us know what you learn. Unfortunately these visas are so new this forum may not have all the answers.

 

 

 

[mrmagyar]

Has anyone yet been approved for the 'Work From Thailand Professionals' visa, working for a private company?

 

If so it would be interesting to hear how well received the audited accounts were.

 

Also, if applicants using this route were not bringing in their salary in the year that it was earnt, would it still be assumed that no Thai income tax was due?

[Misty]

12 minutes ago, mrmagyar said:

Has anyone yet been approved for the 'Work From Thailand Professionals' visa, working for a private company?

 

If so it would be interesting to hear how well received the audited accounts were.

 

Also, if applicants using this route were not bringing in their salary in the year that it was earnt, would it still be assumed that no Thai income tax was due?

On the question about Thai income tax, my understanding is if you earn a salary while working in Thailand, that income is considered Thai-sourced for Thai income tax purposes.  Thai income tax is due on Thai-sourced income.

 

Unfortunately the rules about no tax if you don't bring the earnings into Thailand only apply to foreign-sourced income.  So like dividends, interest, etc  - earned on assets outside of Thailand. Not salary from working in Thailand.

[mrmagyar]

2 minutes ago, Misty said:

On the question about Thai income tax, my understanding is if you earn a salary while working in Thailand, that income is considered Thai-sourced for Thai income tax purposes.  Thai income tax is due on Thai-sourced income.

 

Unfortunately the rules about no tax if you don't bring the earnings into Thailand only apply to foreign-sourced income.  So like dividends, interest, etc  - earned on assets outside of Thailand. Not salary from working in Thailand.

Thanks Misty. That's most useful and seems very likely to be accuate.

[anrcaccount]

41 minutes ago, Misty said:

On the question about Thai income tax, my understanding is if you earn a salary while working in Thailand, that income is considered Thai-sourced for Thai income tax purposes.  Thai income tax is due on Thai-sourced income.

 

Unfortunately the rules about no tax if you don't bring the earnings into Thailand only apply to foreign-sourced income.  So like dividends, interest, etc  - earned on assets outside of Thailand. Not salary from working in Thailand.

Don't believe this is correct in the LTR case. Have a look at the site.
 

https://ltr.boi.go.th/page/laws-regulations.html

 

The principle is that anyone who qualifies for a WFTP visa type would typically not pay tax in Thailand. 

[anrcaccount]

3 minutes ago, anrcaccount said:

Don't believe this is correct in the LTR case. Have a look at the site.
 

https://ltr.boi.go.th/page/laws-regulations.html

 

The principle is that anyone who qualifies for a WFTP visa type would typically not pay tax in Thailand. 

"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 Work- from-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."

[Misty]

45 minutes ago, anrcaccount said:

Don't believe this is correct in the LTR case. Have a look at the site.
 

https://ltr.boi.go.th/page/laws-regulations.html

 

The principle is that anyone who qualifies for a WFTP visa type would typically not pay tax in Thailand. 

Of course I hope that you are right, but I think that may not be correct.  Thai sourced income like salary earned while working in Thailand does appear to be taxed, although there may be some tax breaks on the percentage due for certain categories of the LTR visa. 

 

Screenshot below from BoI's site:  https://ltr.boi.go.th/#pri   Only overseas income appears to have a tax exemption. Salary earned while working in Thailand is Thai-sourced, not overseas:

 

 

 

 

 

[JimGant]

I recently queried the LTR folks about future branch offices away from Bangkok, specifically Chiang Mai. Here's their reply:

 

Quote

We have an office at Chiang Mai but LTR officers are only located in Bangkok.

We are sorry for the inconvenience.

Kind regards,
LTR Visa Unit

Nothing about contemplation of future offices outside Bangkok. At least Elite Visa has addressed the inconvenience of those who live outside Bangkok.

 

Anyway, just a consideration point for those who don't relish a trip to Bangkok, or worse, aren't ambulatory enough to do so, or won't be five years later for the replenishment requirement.

[Klonko]

3 hours ago, Misty said:

Try this page from the BOI's LTR visa website:  https://ltr.boi.go.th/page/required-documents.html

 

Click on the appropriate icon for the visa you wish to get, and download the required documents. 

 

As an example, see screenshot below on what it says is required for "Wealthy Global Pensioners"

 

Other than that, you may need to contact the BoI directly to get your questions answered..  Please let us know what you learn. Unfortunately these visas are so new this forum may not have all the answers.

 

 

 

Thank you. Looks like condo only. I thought so. Dreams  do not come true (using LTR for direct ownership of property, which could give me more flexibility in the long run).