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Posted

I would like to ask a few questions about the Long Term Visa option. I am a US citizen, 55 years of age and still working. 

 

As long as I show evidence of the 80k in annualized income it need not come from a pension to be considered for the Wealthy Pensioner option?

 

Can it be based on current employment income such that age is the primary criteria for that category?

 

If based on current employment will they transition the requirements from the Wealthy Pensioner category to the Work From Thailand Professionals category?

 

Is a monthly paystub, bi-monthly paystub or employment offer letter sufficient for this purpose?

 

Is the work permit also issued to Wealthy Pensioners on application for the permit?

 

I appreciate the contribution of your experience and insights.

Posted
2 minutes ago, Pib said:

If so, do you think your health coverage might be the issue as I said mine might be. 

Health Coverage seems to be the only issue with which the former staff member (StaffBoi 009) had a problem.  Rather than using my unlimited global health coverage to satisfy requirements, however, I am going the self-insured method.  @mudcatposted that he satisfied Health Coverage self-insurance requirements by documenting his Roth IRA coverage.  I have sufficient Roth IRA coverage; and I have sufficient bank deposits as well.  It has just been a problem uploading the documentation; I have sent an email asking BOI to allow me to submit one more PDF file which hopefully will satisfy their inspection protocol.

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Posted
18 minutes ago, pablo el sueco said:

Health Coverage seems to be the only issue with which the former staff member (StaffBoi 009) had a problem.  Rather than using my unlimited global health coverage to satisfy requirements, however, I am going the self-insured method. 

OK, maybe  repeat maybe, "Screen #" is directly linked to the "Upload area #" and now represents an area of a person's application which the BoI has issue with.

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Posted
2 hours ago, pablo el sueco said:

Health Coverage seems to be the only issue with which the former staff member (StaffBoi 009) had a problem.  Rather than using my unlimited global health coverage to satisfy requirements, however, I am going the self-insured method.  @mudcatposted that he satisfied Health Coverage self-insurance requirements by documenting his Roth IRA coverage.  I have sufficient Roth IRA coverage; and I have sufficient bank deposits as well.  It has just been a problem uploading the documentation; I have sent an email asking BOI to allow me to submit one more PDF file which hopefully will satisfy their inspection protocol.

So, the BoI actually notified you via LTR acct online notification and/or email your LTR application had a medical insurance issue/problem (i.e., they were not going to accept the insurance for some reason like maybe needing an expiration date at least 10 month out vs it being a group/open ended policy)?   

 

If so, about how many working days did it take for them to notify you?

 

For me, I haven't been notified of anything yet after 15 working days....I've only seen a change in the BoIStaff column and that appeared just today/Sat/19Nov.  

 

And yea, my Plan B is to try the self-insure option if they refuse to accept my excellent govt/military retiree coverage which as served me so well in Thailand and will continue to do so.  I would prefer to qualify under that method since it's basically on auto-pilot for the rest of my life versus going the self-insure method.

 

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Posted
26 minutes ago, Pib said:

So, the BoI actually notified you via LTR acct online notification and/or email your LTR application had a medical insurance issue/problem (i.e., they were not going to accept the insurance for some reason like maybe needing an expiration date at least 10 month out vs it being a group/open ended policy)?

I have not tried to qualify based on my health insurance which is a benefit of my state government retirement plan.  I don't think the insurance company would cooperate by supplying the necessary certification of coverage.

 

I have only tried to qualify based on USD 100,000 in bank assets or in ROTH IRA assets.  BOI did contact me via online notification and email that they need more documentation for that purpose, but their interface only accepts one PDF file at a time.  I have asked them by email to permit me to upload one last PDF file.

 

It ony took 4 working days for them to contact me.

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Posted
37 minutes ago, pablo el sueco said:

I have not tried to qualify based on my health insurance which is a benefit of my state government retirement plan.  I don't think the insurance company would cooperate by supplying the necessary certification of coverage.

 

I have only tried to qualify based on USD 100,000 in bank assets or in ROTH IRA assets.  BOI did contact me via online notification and email that they need more documentation for that purpose, but their interface only accepts one PDF file at a time.  I have asked them by email to permit me to upload one last PDF file.

 

It ony took 4 working days for them to contact me.

OK...thanks.   Since self-insuring is one of the three allowable methods to meet the insurance requirement, with an actual policy or social security coverage, being the other two I expect a "Screen 3" entry under the Staff BoI column is a new BoI status coding method to indicate which area of an applicant's application has issues.

 

Now as mentioned I haven't received any heads-up from the BoI yet asking telling me they have an issue with my application and please send additional docs, but my gut (and my luck) is telling me that notice is coming. 

 

By the way with the "Screen 3" entry in "Staff Name Column" what does the "Status Column" entry show for you?  That is, Pending, In-Process, etc.   Mine still says "Pending" like it always has from day 1.

 

Edit: and where you said it only took them 4 days to contact you, do you mean 4 days after initially applying?

Posted
2 minutes ago, Pib said:

OK...thanks.   Since self-insuring is one of the three allowable methods to meet the insurance requirement, with an actual policy or social security coverage, being the other two I expect a "Screen 3" entry under the Staff BoI column is a new BoI status coding method to indicate which area of an applicant's application has issues.

 

Now as mentioned I haven't received any heads-up from the BoI yet asking telling me they have an issue with my application and please send additional docs, but my gut (and my luck) is telling me that notice is coming. 

 

By the way with the "Screen 3" entry in "Staff Name Column" what does the "Status Column" entry show for you?  That is, Pending, In-Process, etc.   Mine still says "Pending" like it always has from day 1.

My Status Column switched from "Pending" to "Request Additional Documents" when BOI asked for more documentation to support my $100,000 assets.  They've asked for more documentation three times, and each time the interface has limited me to only 1 upload.  I've now merged my remaining four PDFs into a single file which I shall upload if I can get them to, once again, request additional documentation. 

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Posted

Thanks....and where you said earlier it only took them 4 days to contact you, do you mean 4 days after initially applying?  If so, they got to your application fast. 

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Posted

Applied 6 November and Request for Documentation came on 10 November.  I had submitted an application in early October, but I later withdrew it before any action was taken.  Perhaps the rapid turnaround for the second application was a result of having applied earlier.

Posted
5 minutes ago, pablo el sueco said:

Applied 6 November and Request for Documentation came on 10 November.  I had submitted an application in early October, but I later withdrew it before any action was taken.  Perhaps the rapid turnaround for the second application was a result of having applied earlier.

Wow...I applied in late Oct and after two phone calls to the BoI over the last 10 calendar days with the latest call on Monday I think it was I was told both times my application hasn't been looked at yet because they have a "lot" of applications. 

Posted

Fubar.

 

Sure would be nice if my OA extension could use LTR's $100k in a US bank medical self-insure route. If so, I wouldn't bother with this LTR option, as wasting two days, time, traffic, and money to go to Bangkok for the visa -- then again in five years -- sucks. I still may not, even if things sort out, as spending 36000 baht for the throwaway insurance policy isn't prohibitive, as spending two hours at Imm every year isn't. And, online 90 reports, which take five minutes, may prove superior to whatever they come up with re the one year reporting.

 

Did they really think this LTR route for wealthy pensioners would be so attractive as to get fence sitters to retire in Thailand? Christ, existing options aren't any more burdensome -- and in some cases, less burdensome. The only possible advantage is for frequent retiree travelers. And even here, spending another half hour at Imm per year to get a reentry permit, is not prohibitive.

 

No, at age 78, in five years I probably will have problems to travel to Bangkok to renew. And they've already told me they have no plans to open satellite offices outside Bangkok, particularly in Chiang Mai. So, I guess I'll stick with my current system, which for the past two years hasn't required a hand holding agent to jump the queue. But, previously, for 3000 baht I used this option. Guess I could again, if needed.

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Posted
On 10/4/2022 at 1:40 PM, mudcat said:

I chose to qualify my medical cover by using my Roth IRA account (> 2x the $100K required in a bank account) in lieu of submitting my Pacific Cross policy when it gets renewed in January.

 

On 10/7/2022 at 3:29 PM, mudcat said:

Received phone call informing me that my application has been approved but no letter as of yet.  This resolves the question whether they would accept a retirement account instead of a bank account.

 

 

12 hours ago, mudcat said:

I chose to qualify using my brokerage account, including my Roth IRA.  The consolidated statement had a three-year lookback chart as well as a current valuation - this may have given them some assurance that the account was stable (or at least as stable as any account can be these days).  I don't consider this option as self-insurance, rather I see the health insurance I maintain here as protection for my assets from medical expenses.

 

Thank you for posting your experience with qualifying for the medical cover by using your brokerage account.  My experience has been different so far -- using your success as a guide, I submitted my brokerage account when I applied; unfortunately the BOI reviewer never commented on that but has instead demanded documentation of resources in the bank.

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Posted
3 hours ago, pablo el sueco said:

Thank you for posting your experience with qualifying for the medical cover by using your brokerage account.  My experience has been different so far -- using your success as a guide, I submitted my brokerage account when I applied; unfortunately the BOI reviewer never commented on that but has instead demanded documentation of resources in the bank.

This may turn out to be an example of different BOI reps interpreting their own guidance differently......or, there has been a very recent change at BOI regarding accepting brokerage accts for medical self-insuring....or gosh knows. 

 

But I do know the BOI posted requirements does say "....or a deposit balance of at least USD 100,000 in a bank account in Thailand or abroad retained for at least 12 months as of the date of application."  

 

Now I guess in may come down to what BOI defines (and what their intentions were) for "a bank deposit."  IMO in today's world of many different types financial accounts and types of financial companies that "bank" can almost be considered a vague word.   

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Posted
8 hours ago, Pib said:

Now I guess in may come down to what BOI defines (and what their intentions were) for "a bank deposit."  IMO in today's world of many different types financial accounts and types of financial companies that "bank" can almost be considered a vague word. 

If - if! - the BOI were to limit the 100k USD bank account self-insurance alternative to cash only,  excluding brokerage accounts, this would tremendously decrease the attractiveness of the LTR visa for many.  Because then the applicant would be forced to forego the earnings potential of not only 800,000 THB (i.e. approximately 22k USD) required to be invested in a senseless low-returning savings account as under the Non-O, but this would now require such an investment even for nearly five times this amount, namely 100k USD.  Especially among the more wealthy and financially literate people this visa is targeting, it would appear rather unlikely that there would be many who would be happy to do this since this just would be an extremely poor investment (and even the Thailand Elite visa by comparison would actually be much cheaper taking into account the lost investment returns)

Posted

Why is it a bad investment? I have over $100,000 in a time deposit paying about 5% a year. That is what I showed boi to get my approval. 
I don’t have to show anything again for 5 years. 

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Posted
42 minutes ago, stuarty said:

Why is it a bad investment? I have over $100,000 in a time deposit paying about 5% a year. That is what I showed boi to get my approval. 
I don’t have to show anything again for 5 years. 

Being intentionally very brief to avoid clogging-up this highly useful and informative thread with investment discussions let me just say that many people with this amount of money would probably prefer to invest this for example in an S&P500 index fund which over longer periods has historically returned approximately 10%, implying an excess return of about 5% or 5k USD per year over the figures you mention and without even taking into account that there are usually also some tax advantages on top of this in many jurisdictions.  So doing this over 10 years means an extra income of 10x 5k USD = 50k USD which is far more than the price of a 10 year Elite visa.  But if you are happy with your investment and would have had this anyway, then all of course is fine for you! 

 

image.png.11c7a6ed762ac491546096d92f1a83e1.png

Posted
1 minute ago, Billpro785 said:

Mine went to screen 3 as well. Last week, it was on Staff 4, then later mover to staff 9 and now on Screen 3. 

I got another wild guess, repeat, wild guess as to what "Screen 3" might mean. 

 

Maybe it means your application is close to approval as represented by "Step 3" in the application process when you View your submitted application.  See snapshot below where I Viewed my application and clicked on Step 3 just to show what Step 3 means word-wise and it talks where to have the visa issued....at an embassy or at the BoI.  When I applied I said I wanted to have my LTR visa issued at the BoI in Bangkok. 

 

So, maybe Screen 3 is tied to Step 3 and it means the BoI is now at the stage of generating an approval notice instructing you to take some steps to schedule/pay for your LTR visa issuance.  Boy, wouldn't that be great! 

 

But I'm probably dreaming because I have a hard time believing my application would go thru so easily without being questioned is some way...without the BoI asking for some type of additional info/docs like maybe my medical insurance not satisfying the Boi or just something.   Plus some other posters with a Screen 3 entry are involved in providing additional docs in response to a BoI request. 

 

Repeat, I'm guessing.  Who knows what Screen 3 means as it's probably a program update/renaming of internal Boi review processes to make use of the system easier/faster for the BoI personnel to process applications. 

 

 

image.png.6059da5e5bd0336ac59a816333cfaf5b.png

Posted
14 minutes ago, ThailandRyan said:

I think the final screen might be screen 8. Mine shows screen 7 and pre-approval still, yet it was issued 6 weeks ago.

So "Screen 3" might mean some sort of progress.  Just strange that this shows up over the weekend and after a three-day public holiday where nobody at the BOI was presumably working

@ThailandRyan:  Do you happen to remember if your status display actually went through all the individual screens until 7?

Posted
6 minutes ago, K2938 said:

So "Screen 3" might mean some sort of progress.  Just strange that this shows up over the weekend and after a three-day public holiday where nobody at the BOI was presumably working

@ThailandRyan:  Do you happen to remember if your status display actually went through all the individual screens until 7?

Never saw any screen numbers until just the past few weeks as I looked at my screen to see if it ever shows completed as other peoples did.  Funny to see mine is still pre-approved and yet it was issued. I have not looked back at my other posts to see if it showed a screen # or not, but I can check....

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Posted
On 10/17/2022 at 10:16 AM, ThailandRyan said:

Funny that your portal shows completed. I have my visa and yet the portal shows this.

Screenshot_20221017_101510.jpg

This was the week after I obtained my Visa, so no it did not show a screen number, it must be something fairly new as it used to show BOI with a 3 or 4 digit number which turned out to be the extension of the agent completing the package.

 

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Posted

Or maybe Screen is just short for Screener....as in the BoI rep reviewing an application.  As in Screener 3. Screener 7, etc., and not representing status/progress of the application at all as Screener 7 or Screener 3 could be reviewing an application that just arrived today or arrived a month ago and is close to approval.  Summary: I don't know what it means...just another guess on my part.

 

But ThailandRyan's guess sounds very plausible to me.

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