LTR Visa is Now available for Long Term Residency

[mudcat]

I believe the program requirements are still in draft form 45-days prior to going 'live' which does not fill one with confidence.   While the cabinet signed off on the concept, other actors such as immigration and the insurance companies are 'interested' parties wanting to know what is in it for them.  At the present time there is no way to be sure if any individual will fit into the actual program they appear to qualify for based on a 'brochure'. 

 

Many of us are under time pressure or constraints based on their current immigration status.  This is particularly true for those other than 'wealthy pensioners' whose requirements are relatively simple and straight forward replacement of a retirement or marriage extension unlike the other categories where real money is involved.    As there may be real money moving to Thailand or a re-arrangement of one's current employment scheme due diligence is required as decisions such as those are difficult to unwind.

 

As a 'wealthy pensioner' I can afford to wait and see and simply sketch out a timeline for various steps - for me this means evaluating the program as implemented, obtaining updated qualifying pension/social security statements, renewing my passport, and then waiting until my application is reviewed and approved before moving my insurance policy terms to turn it into a major medical plan rather than a 'Immigration' compliant plan - my trigger date is my extension and insurance policy renewal in early January 2023.  

[Andycoops]

With the financial requirements the pool will be very small indeed, it's just another headliner for the Muppets to tout.

[NoshowJones]

On 7/9/2022 at 12:57 PM, jensmann said:

If I have a million dollar back home, I wouldn't be here. Simple...

That would depend on where "home" is. Certainly not the UK.

[wtboatr]

19 hours ago, mudcat said:

I believe the program requirements are still in draft form 45-days prior to going 'live' which does not fill one with confidence.  

 

It would be nice to see the specific details on the LTR visa program.  I guess I'll have to wait until tomorrow. ????

[Robin]

I have been in Thailand for 5++ years on Retirement Non O visa, and I do not see any reason here to change this.  I can afford to keep the 800KB in a bank and do not find the TM30 reporting or yearly visa extensions arduous to do with help from Thai wife.  Even if I had the money to qualify for this new visa, I would not bother.

My worry is that this is a precursor to more changes in visa rules to get rid of the easy (for now) retirement visa, and the mass of retirees who stay in LOS with it.  I guess many are just ordinary folks who have married a Thai and are now happy to live quietly and modestly in LOS.

This government has not been noted for its logical decisions, or financial expertise, so somebody might be dreaming that the new LTR visa is going to generate millions of $$ of money for Thailand.  I do not see how this can be, unless it is intended to attract high power international criminals who want a safe haven to operate internet scams and other activities.

 

[Misty]

6 hours ago, Robin said:

I have been in Thailand for 5++ years on Retirement Non O visa, and I do not see any reason here to change this.  I can afford to keep the 800KB in a bank and do not find the TM30 reporting or yearly visa extensions arduous to do with help from Thai wife.  Even if I had the money to qualify for this new visa, I would not bother.

My worry is that this is a precursor to more changes in visa rules to get rid of the easy (for now) retirement visa, and the mass of retirees who stay in LOS with it.  I guess many are just ordinary folks who have married a Thai and are now happy to live quietly and modestly in LOS.

This government has not been noted for its logical decisions, or financial expertise, so somebody might be dreaming that the new LTR visa is going to generate millions of $$ of money for Thailand.  I do not see how this can be, unless it is intended to attract high power international criminals who want a safe haven to operate internet scams and other activities.

 

First, I definitely see how the existing system works in your situation.  And I hope the current Retirement Non O annual visa extension requirements do not change.  I don't see any reason they should.

 

Separate from retirement visa extensions, unfortunately there are significant problems with the annual work permit/visa extension process. Never ideal, in recent years that system has grown increasingly dysfunctional and messy (these are euphemisms).   From discussions at foreign chambers, the Thai gov't has had ongoing plans to revamp this system for years (ex: NESDB's "Regulatory Guillotine," etc).  But these plans seem to have gone nowhere.  The legal and human infrastructure supporting the existing system is apparently nearly impossible to shift.

 

Based on what I've heard, there's no illusion that the new LTR system will really generate millions of $$ immediately/initially. That's just marketing. But as new options, these long term working visas can be a huge first step in the right direction, both for the working folk themselves, and a country that would benefit from their experience and knowledge.

 

 

 

[BritTim]

11 hours ago, Robin said:

My worry is that this is a precursor to more changes in visa rules to get rid of the easy (for now) retirement visa, and the mass of retirees who stay in LOS with it. 

It is a valid concern. The LTR visa. in itself, is not a factor. However, the rules for one-year extensions on the basis of retirement have not changed for a long time. Meanwhile, the Non O-A (long stay) visa has drastically changed its requirements (including adding health insurance) and a Non O visa from some embassies also has updated requirements. We can only hope the authorities will leave us alone. If the requirements for extensions of stay are changed, the authorities might give those already here grandfather rights to continue under the current rules. They did something similar to that many years ago when the bank deposit requirement was increased to the current 800,000 baht. For now, we can just wait and hope.

[Northwest87]

Further to the discussions in this thread, I got some additional info from the BOI via email ([email protected]). It is a good sign that they replied quickly with detailed information, and I have attached the PDF file I got from them to this thread: it's a July 2022 draft as per the file name. Some of the fears expressed previously in this thread about unrealistic or self-defeating requirements may have been justified, at least for now, but again, it's a draft and things don't become official until next September.

 

Taking into account possible future adjustments, some requirements are a bit fuzzy or downright disheartening, such as Working from Thailand Professionals contracts requirements guaranteeing that at best only a minuscule amount of freelancers/contractors will qualify (frankly: if any, since requirements are essentially for full-time salaried contract-protected employees), at least from the US.

 

The financial justification of income requirements for the Wealthy Pensioner option is fuzzy (item 14), and I don't understand why it appears quite different from item 15 (for Wealthy Global Citizen), at least for proving the basic 80K minimum level. Item 15 is not clear if we are talking gross or net income after tax because of the type of justification required (bank statements usually reflect net income, not gross, unless your income is way above minimum requirements and it doesn't matter), and whether or not the sources of income are more narrowly defined. Definitely a spot where interpretation may play a role, and that is never good.

 

NW

 

 

LTR_Documents_required.pdf

[mudcat]

This is the same document I received, after which I reached out on two issues of concern to me:

 

Medical insurance does not require out-patient coverage which is an expensive and well nigh useless option for those on OA.  Excluding it on my Pacific Cross receives a 20% discount from my base rate - a reasonable deductible (ThB 40,000) receives an further 25% discount - so the combined annual discount is 60% which more than pays the one-time LTR visa payment, and makes a increasing difference as one moves through the 5-year rate bands.

 

The respondent did not have any issue with dealing with two pension statements - my government pension describes the benefit but does not disclose deductions for taxes or other items; my Social Security does address one's Medicare Part B if applicable and tax withholding if you have opted to have that deducted and gives a net payment amount.  From my description of my income stream the respondent stated that I appear to qualify.  Neither the requirements draft or nor the brochure note any requirement for pensioners of maintaining a deposit at a Thai bank or bringing in a monthly amount from overseas - for me this means I can move my ThB800K currently held hostage at Bangkok Bank for other purposes and continue to use my Social Security benefit direct deposit for living expenses. 

 

But possibly the main benefit is the visa's duration - as I will be 74-years old when I apply for a LTR myself and my wife receive some assurance that so long as I stay current with my medical insurance neither her nor I will need to deal with immigration beyond the yearly reporting requirements once they are disclosed.  If the immigration reporting is too burdensome I can continue with my current retirement extension, but would rather have a 10-year multiple entry visa in my passport the same as my wife received from the U.S. before she received citizenship (no hope for me - can't even sing my national anthem).

 

[ThailandRyan]

3 minutes ago, mudcat said:

This is the same document I received, after which I reached out on two issues of concern to me:

 

Medical insurance does not require out-patient coverage which is an expensive and well nigh useless option for those on OA.  Excluding it on my Pacific Cross receives a 20% discount from my base rate - a reasonable deductible (ThB 40,000) receives an further 25% discount - so the combined annual discount is 60% which more than pays the one-time LTR visa payment, and makes a increasing difference as one moves through the 5-year rate bands.

 

The respondent did not have any issue with dealing with two pension statements - my government pension describes the benefit but does not disclose deductions for taxes or other items; my Social Security does address one's Medicare Part B if applicable and tax withholding if you have opted to have that deducted and gives a net payment amount.  From my description of my income stream the respondent stated that I appear to qualify.  Neither the requirements draft or nor the brochure note any requirement for pensioners of maintaining a deposit at a Thai bank or bringing in a monthly amount from overseas - for me this means I can move my ThB800K currently held hostage at Bangkok Bank for other purposes and continue to use my Social Security benefit direct deposit for living expenses. 

 

But possibly the main benefit is the visa's duration - as I will be 74-years old when I apply for a LTR myself and my wife receive some assurance that so long as I stay current with my medical insurance neither her nor I will need to deal with immigration beyond the yearly reporting requirements once they are disclosed.  If the immigration reporting is too burdensome I can continue with my current retirement extension, but would rather have a 10-year multiple entry visa in my passport the same as my wife received from the U.S. before she received citizenship (no hope for me - can't even sing my national anthem).

 

We shall see what Occurs on September 1st when the LTR Visa goes live.  I to will drop the outpatient portion of my PCH since it sounds like it will not be needed.  My extension of stay expires in November, and I usually do it 30 days early in October.  I wonder if applying on September 1st or when the program is live, whether I will be able to stay on the same cycle.

[mudcat]

Straddling immigration requirements is always painful.  November may be tight, but doable. 

 

When I reached out to PCHI they stated that they will drop the outpatient and change the deductible at renewal which works for me with both in early January.  If your insurance and current extension coincide it would be good, if not best to reach out to PCHI now and discuss it with them - as explained to me they would need to run it by the underwriters to get approval.

 

The LTR requirements state that they will grant preliminary approval pending receipt of a letter from the insurance company.  Somewhere in my back and forth with LTR it was stated the policy needed 10-months to run.   

 

If you are determined to apply another thing to  consider is doing a passport renewal and transferring stamps prior to applying for the LTR - this gives immigration one less thing to 'do' and clears out the wreckage of the past with stamps and stickers.  The cost for a U.S. passport is $130 + EMS and turn-around is reported to be only a few weeks which would allow a September application without medical insurance if you require to maintain outpatient to comply with OA requirements. 

[ThailandRyan]

5 minutes ago, mudcat said:

Straddling immigration requirements is always painful.  November may be tight, but doable. 

 

When I reached out to PCHI they stated that they will drop the outpatient and change the deductible at renewal which works for me with both in early January.  If your insurance and current extension coincide it would be good, if not best to reach out to PCHI now and discuss it with them - as explained to me they would need to run it by the underwriters to get approval.

 

The LTR requirements state that they will grant preliminary approval pending receipt of a letter from the insurance company.  Somewhere in my back and forth with LTR it was stated the policy needed 10-months to run.   

 

If you are determined to apply another thing to  consider is doing a passport renewal and transferring stamps prior to applying for the LTR - this gives immigration one less thing to 'do' and clears out the wreckage of the past with stamps and stickers.  The cost for a U.S. passport is $130 + EMS and turn-around is reported to be only a few weeks which would allow a September application without medical insurance if you require to maintain outpatient to comply with OA requirements. 

My Passport is still good for another 7 years, which would allow for the Visa to be placed inside and then upon renewal time to have the Stamp moved to the new passport, but then I do understand what your saying.

[oldcpu]

5 hours ago, Northwest87 said:

Further to the discussions in this thread, I got some additional info from the BOI via email ([email protected]).

Thanks. Interesting.

 

Note item-4: Copy of Health Insurance ... where "the stamp and signature of the insurance company are mandatory". I suspect this "stamp" and "signature" are most likely on a custom Thai immigration form, and MANY foreign insurance companies will refuse to sign/stamp such.

 

For the "valid social security benefits" the PDF does not specify what will be accepted as "evidence". My fear is it could be an embassy letter and that many embassies will refuse to provide such.

 

For the "bank statement for the last 12 months showing a deposit of no less than 100,000 USD" ... This is encouraging for me, although I wonder, does this have to be in a Thai bank?  I suspect so.  I also suspect many don't have this amount, although this LTR is for a "wealthy pensioner" and not an "average pensioner".

 

Item-5:  This $250,000 USD in assets in Thailand, I wonder if it can be from a combination of Thai bonds + condominium unit purchase/ownership to equal the $250,000 USD equivalent, or if it must be only one (and not a combination to achieve the amount)?

 

Item-14/15: As pointed out already, the financial evidence showing an income in current year ...  Again, this gets fuzzy ! 

 

Item-16: A no-criminal record proof requirement.  More detail here would be useful. Is this required only the 1st time, or is it needed again in x-years when the LTR permission to stay is renewed again?

 

Like many I am curious to read how this is finally implemented (including the smallest details).

[mudcat]

I assume/hope that my Thai insurance company (Pacific Cross) will modify the insurance certificate  they currently supply to immigration for those extending an OA visa.  The current certificate gives my details, dates of coverage but does not give actual coverage limits, rather it states that my current policy complies with the two main provisions for an OA visa at the time of issuance - at that time at least 40K outpatient and at least 400K inpatient.  They will not be able to supply such a letter until there is something definite  from the BOI, Cabinet Resolution, or Royal Gazette, but as I noted before one can apply demonstrating compliance with the other requirements prior to submitting insurance. 

 

Because the BOI is dealing with a different and selective class of applicants, they MAY be able to review policies from abroad that cover foreign treatment (e.g. U.S. Tricare but not U.S. Medicare) or accept proffered supporting documents for a bank balance statement guaranteeing resources sufficient to cover medical bills.  

[ubonjoe]

28 minutes ago, oldcpu said:

For the "valid social security benefits" the PDF does not specify what will be accepted as "evidence". My fear is it could be an embassy letter and that many embassies will refuse to provide such.

I think that is Thai social security benefits that pays for the medical treatment instead of needing medical insurance.

[Northwest87]

17 hours ago, oldcpu said:

Item-5:  This $250,000 USD in assets in Thailand, I wonder if it can be from a combination of Thai bonds + condominium unit purchase/ownership to equal the $250,000 USD equivalent, or if it must be only one (and not a combination to achieve the amount)?

 

 

Item-16: A no-criminal record proof requirement.  More detail here would be useful. Is this required only the 1st time, or is it needed again in x-years when the LTR permission to stay is renewed again?

 

 

Item 5 applies to the WP option only if income is in the $40k-79.9 range, not above. If someone can qualify for the WP option, why would they go through with the WGC option? I'm not sure because I don't see where/how the latter confers any substantial advantages over the former, especially since you need on top of other things to prove the 2 previous years at 80K income, while the WP option ask for proof of 80K income only for the year immediately preceding the application. I see a problem of logic here, and so potentially a clue as to why option 15 appears fuzzy (gross/net? Pension income?). We simply need clarifications here.

 

For the criminal check, I think that this will be an exceptional requirements and I wouldn't even worry about it. Not that it's difficult to get it done but nowadays, with basic passport information Thai police can electronically get plenty of info from their police counterparts abroad on whether or not a person is on the radar and needs to be double-checked.

 

NW

[oldcpu]

On 7/18/2022 at 3:18 AM, Northwest87 said:

Item 5 applies to the WP option only if income is in the $40k-79.9 range, not above. If someone can qualify for the WP option, why would they go through with the WGC option? I'm not sure because I don't see where/how the latter confers any substantial advantages over the former, especially since you need on top of other things to prove the 2 previous years at 80K income, while the WP option ask for proof of 80K income only for the year immediately preceding the application.

Some of us who easily meet the 80K range don't obtain it all from one source, but from multiple sources - each source under 80K and each source may have a different means of proof available where the proof of one or more of the sources may or may not be acceptable for immigration under the LTR. 

 

If all sources not acceptable then the lower range may need to be considered.

 

So if a combination of sources for 80K not accepted, one might then look at the 250K option.   Some of us may be massively over the 250K in total assets in Thailand, but no one asset exceeds the 250K.  So again it comes down to the implementation, and will a combination of different ways of meeting the 250K be acceptable?

 

Detail/clarifications would be helpful.

 

 

On 7/18/2022 at 3:18 AM, Northwest87 said:

 

I see a problem of logic here, and so potentially a clue as to why option 15 appears fuzzy (gross/net? Pension income?). We simply need clarifications here.

I agree clarifications are needed ... and also more detail required.

 

Overall, I suspect the implementation of the Health Insurance requirement could be the main blocker for this being popular, unless the implementation is carefully implemented , and NOT implemented by using the Type-OA Health Insurance requirement implementation as a model example.

 

[mudcat]

In regards to insurance required for LTR visas.   As our only source of actual information is the BOI I reached out the them to see where I would stand.  I fully understand that the ultimate program may change from what follows, but at least it gives some idea of whether the visa may be feasible for you. 

 

My initial query to BOI:

 

As my U.S. Medicare insurance does not allow for treatment overseas, I have maintained a  medical insurance plan here in Thailand through Pacific Cross in anticipation that at some point my retirement extension may require health insurance for Non-IMM O extensions as it does today for Non-IMM-OAs.

 

I would hope that the insurance requirement for the LTR Visa would not require useless and expensive ThB 40,000 outpatient insurance which I have never availed myself of in all the years I have maintained health insurance in the Kingdom. I understand requiring insurance for those who plan to reside in the Kingdom long term, but I believe that the insurance should serve as a major medical policy to cover serious illnesses or accidents as that is the eventuality most wealthy pensioners and others would agree is their individual responsibility. Because my Pacific Cross policy would qualify for visas or extensions under the Non-IMM OA category they issue a letter for immigration purposes; in the case of extensions they have sometimes been fussy about issuing an extension beyond the expiration of the insurance policy - I would hope that you accept that demonstrating continuous coverage prior to applying for a LTR visa would suffice for your requirements, otherwise I would need to delay my application until later this year to be able to apply and receive the visa concurrently with my medical policy.

 

Their initial response:

Based on the information that you have kindly provided us, it seems like you
will be qualified for the Wealthy Pensioners since you have a personal income
of more than $80,000. Therefore, we have attached the required document
(draft) so you can prepare the documents. As for health insurance, we required health insurance with a coverage of no less than $50,000 USD with the remaining maturity of no less than 10 months at the time of application or valid social security benefits which insures hospitalization and treatment in Thailand or deposit of no less than 100,000 USD in a bank account...

 

My further follow up and their reply

 

Thank you so much for your prompt and complete reply. I have checked with my insurance company (Pacific Cross) and they are willing to amend my policy to drop out-patient and increase my annual deductible from ThB20K to 40K at time of renewal which is January 13th, 2023. From your note I see that I can apply for the LTR prior to obtaining my insurance company's amended policy and you will
issue the Visa letter when you receive the policy which is acceptable to me as my current extension of stay expires on January 13th as well.  I do want clarification of the term "hospitalization and treatment" (below) which isused in your reply and
the draft qualifications. I expect that you will accept policies covering inpatient hospitalization only leaving it up to the applicant on how and where to obtain outpatient treatment at their own expense. This is an important clarification for most retirees, for while we are wealthy by your definition, we didn't get there by paying for coverage that we do not use or need.

 

For example, my annual policy base rate is ThB144,285 is reduced by 20% (ThB 28,857) if outpatient care is excluded - an amount increases steeply as one advances through the age brackets (e.g. >ThB 60,750 should one reach 85-years old). I would understand the requirement if your income requirements were met by a modest deposit in a bank account as required by an Non-IMM O extension
rather than a guaranteed income stream from a pension that you are requiring - with our income we can easily afford simple outpatient care and would appreciate having the peace of mind through what is called 'Major Medical' in my home country.
 

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 oversea) which has been held for at least 12 months at the time of application
which is acceptable as well.

 

 

[ThailandRyan]

1 hour ago, mudcat said:

In regards to insurance required for LTR visas.   As our only source of actual information is the BOI I reached out the them to see where I would stand.  I fully understand that the ultimate program may change from what follows, but at least it gives some idea of whether the visa may be feasible for you. 

 

My initial query to BOI:

 

As my U.S. Medicare insurance does not allow for treatment overseas, I have maintained a  medical insurance plan here in Thailand through Pacific Cross in anticipation that at some point my retirement extension may require health insurance for Non-IMM O extensions as it does today for Non-IMM-OAs.

 

I would hope that the insurance requirement for the LTR Visa would not require useless and expensive ThB 40,000 outpatient insurance which I have never availed myself of in all the years I have maintained health insurance in the Kingdom. I understand requiring insurance for those who plan to reside in the Kingdom long term, but I believe that the insurance should serve as a major medical policy to cover serious illnesses or accidents as that is the eventuality most wealthy pensioners and others would agree is their individual responsibility. Because my Pacific Cross policy would qualify for visas or extensions under the Non-IMM OA category they issue a letter for immigration purposes; in the case of extensions they have sometimes been fussy about issuing an extension beyond the expiration of the insurance policy - I would hope that you accept that demonstrating continuous coverage prior to applying for a LTR visa would suffice for your requirements, otherwise I would need to delay my application until later this year to be able to apply and receive the visa concurrently with my medical policy.

 

Their initial response:

Based on the information that you have kindly provided us, it seems like you
will be qualified for the Wealthy Pensioners since you have a personal income
of more than $80,000. Therefore, we have attached the required document
(draft) so you can prepare the documents. As for health insurance, we required health insurance with a coverage of no less than $50,000 USD with the remaining maturity of no less than 10 months at the time of application or valid social security benefits which insures hospitalization and treatment in Thailand or deposit of no less than 100,000 USD in a bank account...

 

My further follow up and their reply

 

Thank you so much for your prompt and complete reply. I have checked with my insurance company (Pacific Cross) and they are willing to amend my policy to drop out-patient and increase my annual deductible from ThB20K to 40K at time of renewal which is January 13th, 2023. From your note I see that I can apply for the LTR prior to obtaining my insurance company's amended policy and you will
issue the Visa letter when you receive the policy which is acceptable to me as my current extension of stay expires on January 13th as well.  I do want clarification of the term "hospitalization and treatment" (below) which isused in your reply and
the draft qualifications. I expect that you will accept policies covering inpatient hospitalization only leaving it up to the applicant on how and where to obtain outpatient treatment at their own expense. This is an important clarification for most retirees, for while we are wealthy by your definition, we didn't get there by paying for coverage that we do not use or need.

 

For example, my annual policy base rate is ThB144,285 is reduced by 20% (ThB 28,857) if outpatient care is excluded - an amount increases steeply as one advances through the age brackets (e.g. >ThB 60,750 should one reach 85-years old). I would understand the requirement if your income requirements were met by a modest deposit in a bank account as required by an Non-IMM O extension
rather than a guaranteed income stream from a pension that you are requiring - with our income we can easily afford simple outpatient care and would appreciate having the peace of mind through what is called 'Major Medical' in my home country.
 

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 oversea) which has been held for at least 12 months at the time of application
which is acceptable as well.

 

 

Reading your post, I just felt the goal posts shifting as far as HI or having money in the bank......better hold onto our shorts on this LTR Visa

[BKKrunaway]

Is there any information as yet regard how "WTP: Work-from-Thailand Professionals" will be taxed?

 

There doesn't seem to much info. surrounding the above.

 

Furthermore, to ask your company for "Audited corporate’s annual financial statement or financial report showing the revenue in the last 3 years of no less than 150 million USD" because I want to be a WTP would be embarrassing. There are privately owned companies who employ thousands of people that wouldn't just disclose that information.

[tezzaaa]

Is it an issue if I'm already on a retirement visa and I wish to apply for this LTR visa? I'm also a bi national so could I just apply with my second passport to simplify things?

[mudcat]

2 hours ago, tezzaaa said:

Is it an issue if I'm already on a retirement visa and I wish to apply for this LTR visa? I'm also a bi national so could I just apply with my second passport to simplify things?

Per the LTR pamphlet Visa Application and Issuance after the BOI issues your approval letter:

 

3. Qualified applicants may proceed with applying for LTR Visa issuance at the Royal Thai Embassies/the Royal Thai Consulate Generals overseas or Immigration offices in Thailand within 60 days from the issuance date of the endorsement letter. ...

 

If you are applying from within Thailand and expect immigration to enter the visa into a passport they would expect to see in the passport a visa/extensions that allow you to be present in the Kingdom. 

 

Per the draft requirements you must provide:

 

Copies of the passport: - Personal data page and all pages with Thai visa stamps) - Valid for at least 6 months from the date of visa issuance - At least 2 blank pages.

 

If you are applying from outside of Thailand and having a Thai consulate enter the visa you could use a second country passport

[Northwest87]

16 hours ago, BKKrunaway said:

Is there any information as yet regard how "WTP: Work-from-Thailand Professionals" will be taxed?

 

There doesn't seem to much info. surrounding the above.

 

Furthermore, to ask your company for "Audited corporate’s annual financial statement or financial report showing the revenue in the last 3 years of no less than 150 million USD" because I want to be a WTP would be embarrassing. There are privately owned companies who employ thousands of people that wouldn't just disclose that information.

 

 

For the WTP option, I thought (yes, the past) at one point that this was a second solid option for me, but it's like they keep dropping grand pianos on my head ????. I agree with you on the unrealistic, embarrassing idea, especially coming from a contractor, who is essentially a disposable non-employee.  I also "thought" that it made no sense that you'd be taxed for work online for a foreign firm abroad, but there is talk of a "digital work permit", so who knows? It's weird in any case... If your country has a tax agreement with Thailand, this becomes a moot point though.

 

So the company-vetting thing is kind of a non-starter unless it's listed on a stock exchange. And I don't know about you, but if you qualify under the terms of the WTP contract requirements (contract for a guaranteed yearly or monthly salary for the duration of the contract), and that employer lets you work from abroad, more power to you ???? 

 

 

[BKKrunaway]

@Northwest87 - sounds like our situations may be similar.

 

Yeah, that audited financials requirement is ridiculous particularly for a contractor. It's a pity since I think it would have been those types (like us) that would have thought that the LTR would be a great option.

 

At this stage I am seriously considering the 20 year elite and getting it over and done with.

[Northwest87]

2 hours ago, BKKrunaway said:

@Northwest87 - sounds like our situations may be similar.

 

Yeah, that audited financials requirement is ridiculous particularly for a contractor. It's a pity since I think it would have been those types (like us) that would have thought that the LTR would be a great option.

 

At this stage I am seriously considering the 20 year elite and getting it over and done with.

WP appears still a valid option for me, barring any surprises but so far the income requirements documentation is not very clear, so let's wait and see. It would be by far the best option of all, probably for you too. My fallback option is a regular retirement visa.

 

Anyhow, when that LTR thingy was announced, they were going to bring...what was it? A trillion baht or some such. I don't think it will fly, at least for remote workers. 

 

 

[tezzaaa]

Hi, does anyone know when and where we can apply? Can we start to send documents for screening? I'm currently in London but cannot see any mention of this new visa on the embassy website, if it's really going live in September I would have expected to see some mention at least..

[mudcat]

On 7/11/2022 at 9:49 AM, ubonjoe said:

This PDF file from the Board Of Investment has lot of info about the LTR visa.

 https://www.boi.go.th/upload/content/LTR.pdf

Northwest posted a copy of the draft requirements that may be helpful to you:

 

https://aseannow.com/applications/core/interface/file/attachment.php?id=855317&key=61b21f28de5786c2b53e7ef0850607e4

 

No one knows yet what the real program will require, but the above documents and the thread give you a start - note that applications will be accepted beginning September 1st (well at least that is the plan).  

 

As to the Embassy not showing any information about this - I believe that this is a separate program similar to Elite Visas where another organization (in this case BOI) will vet and approve applications and issue a letter for a visa to be entered into your passport.  

[Lacrimas]

It's a farce that will flop like the Smart Visa... they had like 200 applicants 

[DjChris28]

On 7/11/2022 at 3:28 PM, BritTim said:

At which point, many on here would be pointing out that it is much more economical to get an Elite at a million baht for 20 years (50k per year) rather than paying an extra 70k baht per year. On the other hand, those visiting for six months might find a 60k visa with no extension or reporting requirements very attractive. The authorities need to set up a system where people can propose their own custom visa conditions, and have Immigration agree or deny the applications on an individual basis.

The issue with that is even if i got an elite visa if I ever want to work there, i'd have to cancel the elite visa to get the non imm b visa and they won't refund the remainder of the elite visa..

 

It's a shame i can't run the 2 visa side by side, that is an elite visa and a non imm b visa for when iu'm working there. And then when no longer working, they just cancel the non imm b visa but i can still visit via the elite visa without having to pay again for the elite visa.

[DjChris28]

On 7/21/2022 at 1:48 PM, BKKrunaway said:

@Northwest87 - sounds like our situations may be similar.

 

Yeah, that audited financials requirement is ridiculous particularly for a contractor. It's a pity since I think it would have been those types (like us) that would have thought that the LTR would be a great option.

 

At this stage I am seriously considering the 20 year elite and getting it over and done with.

This is what i'm asking BOI. Do we need to work for the employer as a permanent employee. What about if we are contracting? Will they accept a company "in the middle" and the employer should be regarded as who we issue service contracts to and invoice to.