LTR Visa is Now available for Long Term Residency

[Pib]

28 minutes ago, oldcpu said:

On this topic, I received an email today from Bangkok Bank, advising me of a regular new issue of Thai Government bonds coming up.

 

Having typed that, I don't know if one applied to buy the necessary amount in Thai government bonds (via Bangkok Bank) if one would actually obtain the amount they requested.

Yea, I got the same but it was all in Thai (snapshot below) and there was no weblink to view it on a browser or link to a Bangkok Bank webpage....and from searching around on the Bangkok Bank website I couldn't find any info.

 

However, from googling the bond numbers I did find some weblinks at Krungthai Bank and Bank of Thailand talking the 2 day bond sale in mid December.  Select English on the Krungthai Bank website to see the buying requirements....it does say for those holding Thai nationality "or" have a residence in Thailand.   Since it says "...or have a residence in Thailand..." I expect that would mean those folks registered with their Thai bank as having some type of "long term visa" like a Non O/OA visa good for a year.  If so, for those folks outside of Thailand with no Thai bank acct then trying to buy the bonds to qualify for a LTR would be like peeing into the wind.

 

https://krungthai.com/th/krungthai-update/promotion-detail/1294

https://www.bot.or.th/Thai/DebtSecurities/SalestoIndividuals/Documents/Factsheet-HAPPY_SAVER.pdf

 

 

Snapshot of Bangkok Bank email.

Edited November 28, 2022 by Pib

[Mike Teavee]

Edit: Please ignore @Pib has covered the same as I posted but included more useful info for KrungThai Bank.

Edited November 28, 2022 by Mike Teavee

[smic]

3 hours ago, anotherexpat4444 said:

 I am now not in thailand  .what date do the BOI expects this insurance to start . 

At the date of application submission, it must have at least 10 months remaining on the policy.

 

Or if buying once approved (selected submit later on the application as in my case) I started mine ASAP when the insurance company would let me. About +2 days from the time it went to the underwriters. I then sent the paperwork across to BOI. At that time it was past the start date of the policy.

 

My insurance was accepted today.

[Pib]

8 hours ago, smic said:

At the date of application submission, it must have at least 10 months remaining on the policy.

 

Or if buying once approved (selected submit later on the application as in my case) I started mine ASAP when the insurance company would let me. About +2 days from the time it went to the underwriters. I then sent the paperwork across to BOI. At that time it was past the start date of the policy.

 

My insurance was accepted today.

With acceptance of your insurance does this mean you have now received approval from BoI for a LTR visa? 

 

Or does it mean they accepted your insurance which "should" satisfy all requirements in your view but you are still awaiting notice of BoI final approval?

[Pib]

I don't know if it's just me or it affects other also, but starting yesterday and continuing today "during BoI business hours" when logging onto my LTR online acct it was VERY, VERY slow although Speedtest.net confirmed I had a 700Mb local connection and my internet surfing to all other local/foreign websites was fast as normal. I have an AIS Fibre internet plan.   Ditto for logon via my DTAC mobile connection.

 

My log onto my LTR online acct would take a full minute or two to "fully" display my info....and a minute or two is like forever when staring at a display.   For the first 30 seconds or so it would display the SMART Visa logo vs the LTR Visa logo before switching to the LTR Visa logo....and then another 30 to 60 seconds before my name would appear along with info on my applications. 

 

Yea....VERY, VERY slow.    Now after business hours in the evening/night the LTR online acct is fast as it use to be up until a day or two ago.    

 

 

 

Edited November 29, 2022 by Pib

[Misty]

25 minutes ago, Pib said:

I don't know if it's just me or it affects other also, but starting yesterday and continuing today "during BoI business hours" when logging onto my LTR online acct it was VERY, VERY slow although Speedtest.net confirmed I had a 700Mb local connection and my internet surfing to all other local/foreign websites was fast as normal. I have an AIS Fibre internet plan.   Ditto for logon via my DTAC mobile connection.

 

My log onto my LTR online acct would take a full minute or two to "fully" display my info....and a minute or two is like forever when staring at a display.   For the first 30 seconds or so it would display the SMART Visa logo vs the LTR Visa logo before switching to the LTR Visa logo....and then another 30 to 60 seconds before my name would appear along with info on my applications. 

 

Yea....VERY, VERY slow.    Now after business hours in the evening/night the LTR online acct is fast as it use to be up until a day or two ago.    

 

 

 

Hi, I think not just your account - I'm seeing changes as well.  My best guess is they are doing system upgrades.  Not sure what they're up to, but for one the digital work permit application page is appearing differently.  It looks like a work-in-progress.  I'll check again in a day or so. 

[Pib]

5 hours ago, Pib said:

I don't know if it's just me or it affects other also, but starting yesterday and continuing today "during BoI business hours" when logging onto my LTR online acct it was VERY, VERY slow although Speedtest.net confirmed I had a 700Mb local connection and my internet surfing to all other local/foreign websites was fast as normal. I have an AIS Fibre internet plan.   Ditto for logon via my DTAC mobile connection.

 

My log onto my LTR online acct would take a full minute or two to "fully" display my info....and a minute or two is like forever when staring at a display.   For the first 30 seconds or so it would display the SMART Visa logo vs the LTR Visa logo before switching to the LTR Visa logo....and then another 30 to 60 seconds before my name would appear along with info on my applications. 

 

Yea....VERY, VERY slow.    Now after business hours in the evening/night the LTR online acct is fast as it use to be up until a day or two ago.    

And now (it's 5:250pm) "after" BoI business hours  which ended at 4:30pm the LTR online acct website has went from VERY slow to again fast.   Same thing happened yesterday.

[ThailandRyan]

2 hours ago, Pib said:

And now (it's 5:250pm) "after" BoI business hours  which ended at 4:30pm the LTR online acct website has went from VERY slow to again fast.   Same thing happened yesterday.

I could not see my status screen when I checked earlier as it was blank. When I clicked the LTR tab it shows processing... still.  I called BOI today and it just rang and rang.  I think they must have some programming issues.

[smic]

17 hours ago, Pib said:

With acceptance of your insurance does this mean you have now received approval from BoI for a LTR visa? 

 

Or does it mean they accepted your insurance which "should" satisfy all requirements in your view but you are still awaiting notice of BoI final approval?

I received BOI approval and the notification letter on 28/11 ????

 

[K2938]

On 11/24/2022 at 7:32 AM, aublumberg said:

Would love to know what the rate is for the other three LTR categories.

Somebody receiving his LTR on Nov 23 was told his LTR was the 376th issued, so the overall success rate is higher than the 14% of the working-from-Thailand category, but not vastly so.  Given the application numbers published earlier, success rate overall is probably only around 25%.

We of course do not know the reasons for this very low success rate, but since it is probably unlikely that the vast majority of people applying for the LTR visa were just crazy, missing the criteria by miles and really should never have applied if they would have had any sense, this would appear to indicate excessive pickiness and rigidity on the side of the BOI

Edited November 29, 2022 by K2938

[Misty]

3 hours ago, K2938 said:

Somebody receiving his LTR on Nov 23 was told his LTR was the 376th issued, so the overall success rate is higher than the 14% of the working-from-Thailand category, but not vastly so.  Given the application numbers published earlier, success rate overall is probably only around 25%.

We of course do not know the reasons for this very low success rate, but since it is probably unlikely that the vast majority of people applying for the LTR visa were just crazy, missing the criteria by miles and really should never have applied if they would have had any sense, this would appear to indicate excessive pickiness and rigidity on the side of the BOI

Thanks for the figures, it is interesting to know how many have been issued thus far. 

 

Do we know how many applications have actually been rejected (versus not yet granted, requesting more detail etc)?  

 

Whatever the actual rejection rate, though, I see things a bit differently.  I've seen no sign at all of the BoI being picky or rigid. Trying to stick to the legal requirements is more likely, in my opinion.  I would applaud them for that.  If the legal standards are too rigid, then the lawmakers need to adjust them. But that isn't the BoI's call.

[Pib]

Update:   Known LTR Approvals as of 30 Nov 2022 based on posts in this thread I saw.  Added "smic" who received his LTR Work from Thailand Professional approval on 28 Nov....he initially applied  20 Sep....which equates to around a total time for approval of  approximately 2 months and 1 week.  Congrats to smic!!!

 

Glad to see another approved application with smic's approval on 28 Nov.  The previous approval was JJJJJJJJ's approval on 8 Nov....he applied 1 Sep....which equates to a approval time of around 2 month and 1 week.

 

I may have missed some approvals...please speak-up if you have been approved.   Since early Oct the rate of known approvals based on posts in this thread (and other forums like reddit and Facebook I've looked at) has really slowed down....slowed down bigtime for whatever reasons.   Maybe fewer applicants, maybe the BoI slowing down in how fast they process applications (personally I think this is a major reason), maybe applicants simply not meeting requirements but submitted an application just to see what happens, maybe people just not posting about their LTR application experience, maybe ________________(you fill-in the blank).

 

And for those who may have been rejected, being asked for more documents which you find very hard to impossible to provide, etc., your crossfeed on why you think your application isn't meeting requirements would be greatly appreciated as that provides excellent insight on the BoI review process, how flexible (or inflexible) they are with requirements/docs, etc.

 

Poster & Date Approval Notice Rec'd

1.   BKKNono  -  15 Sep

2.  ashkale  - 28 Sep

3.  ThailandRyan  - 28 Sep

4.  pepper402  - 29 Sep

5.  gajah  - 30 Sep

6.  Alotoftravel  - 4 Oct

7.  James7  - 4 Oct 

8. & 9.  Misty (and family member)  - 4 Oct

10.  mudcat  - 4 Oct

11. & 12.  stuarty (and wife) - 4 Oct

13.  Boomer6969  - 5 Oct

14.  aublumberg - 12 Oct

15.  JJJJJJJJ  -  8 Nov

16.  smic - 28 Nov

 

 

[aublumberg]

Tend to agree with @Misty, I think the staff at BOI are actually applying the requirements checks based on what is documented, I don't think they are necessarily 'picky' but simply following the evidence presented by applicants. Of course there is a learning curve given the program is quite new but it should hopefully now enter a steady state.

 

Since there is no application fee charged, I do think the threshold to apply is very low and a certain segment of applicants "just give it a go and see". This is also evident from a number of online forums.

 

 

[Pib]

Third day in a row now that the LTR online acct website has been VERY slow during BoI business hours.  At 10:50am Thailand time it takes approx 1 to 2 minutes before a logon will complete to the point of seeing the status of your application.  And when clicking "View" to see your application you can not....it just times out....basically makes it unusable to view or upload docs.

 

This has been my logon experience  since 28 Nov/Monday when checking the status of my application during BoI business hours.  But before 28 Nov and/or outside of BoI business hours the online acct website is fast.  I have an AIS Fibre internet plan to gives me speeds of 700Mb speed to Thailand websites....surfing to other Thailand and foreign websites is fast....just the BoI online acct is slower than a sleeping turtle.    Using my DTAC mobile connection to logon results in the same VERY slow experience.

 

Just FYI in case others are experiencing this "during BoI business hours" issue.

[Pib]

34 minutes ago, Pib said:

Third day in a row now that the LTR online acct website has been VERY slow during BoI business hours.  At 10:50am Thailand time it takes approx 1 to 2 minutes before a logon will complete to the point of seeing the status of your application.  And when clicking "View" to see your application you can not....it just times out....basically makes it unusable to view or upload docs.

 

This has been my logon experience  since 28 Nov/Monday when checking the status of my application during BoI business hours.  But before 28 Nov and/or outside of BoI business hours the online acct website is fast.  I have an AIS Fibre internet plan to gives me speeds of 700Mb speed to Thailand websites....surfing to other Thailand and foreign websites is fast....just the BoI online acct is slower than a sleeping turtle.    Using my DTAC mobile connection to logon results in the same VERY slow experience.

 

Just FYI in case others are experiencing this "during BoI business hours" issue.

Update: I called BoI about the LTR online acct website be VERY slow.   They are aware of the problem and hope to have the problem fixed this afternoon.

 

I then asked about the status of my application which was submitted 25 Oct...around 23 business days ago.  Took the rep approx 2 minutes to look up the status because the rep said their system is very slow right now.  I've been told that in by earlier calls over the last few weeks.  The rep said it's "processing."  I told him my online status shows "Pending"  and not Processing. I then asked what was meant by "processing" and the rep said it means my application has been initially looked at but not at detail level.  

 

I asked how much longer does he estimate before I get some kind of feedback via my online acct such as in a notification/email asking for more docs, approval, rejection, status change, etc.   He said approx 10 to 15 "working" days.    He said they have a lot of applications to review.

 

So, at this point in time it appears a typical application may take approx 40 "BoI working days" vs 20 working days to reach a point where a person will know whether their application is acceptable, needs more docs, etc.

 

 

[JJJJJJJJ]

9 minutes ago, Pib said:

Update: I called BoI about the LTR online acct website be VERY slow.   They are aware of the problem and hope to have the problem fixed this afternoon.

 

I then asked about the status of my application which was submitted 25 Oct...around 23 business days ago.  Took the rep approx 2 minutes to look up the status because the rep said their system is very slow right now.  I've been told that in by earlier calls over the last few weeks.  The rep said it's "processing."  I told him my online status shows "Pending"  and not Processing. I then asked what was meant by "processing" and the rep said it means my application has been initially looked at but not at detail level.  

 

I asked how much longer does he estimate before I get some kind of feedback via my online acct such as in a notification/email asking for more docs, approval, rejection, status change, etc.   He said approx 10 to 15 "working" days.    He said they have a lot of applications to review.

 

So, at this point in time it appears a typical application may take approx 40 "BoI working days" vs 20 working days to reach a point where a person will know whether their application is acceptable, needs more docs, etc.

 

 

Be patient

[K2938]

5 hours ago, aublumberg said:

a certain segment of applicants "just give it a go and see". This is also evident from a number of online forums.

 

This “gambling” approach to the LTR application is primarily among the digital nomad group which apply as Working-from-Thailand professionals.  This is also why the rejection rate for Working-from-Thailand professionals is 86% versus the overall rejection rate of “only” approximately 75%. 

 

 

However according to the statistics published at the end of October Working-from-Thailand professionals only account for about a third of all applications, so the other two thirds – with Wealthy Pensioners being the biggest sub-group thereof and largest of all application categories - still need to have an average rejection rate of approximately 70% so that the overall rejection average comes out at 75%.

 

 

Now we of course do not know the details, but the fact that thus about 70% of Wealthy Pensioner applications appear to get rejected seems extremely high as I would not expect to be so many “gamblers” in this group.  Also, while the application does not cost any money, most people – and especially among this group – will be reluctant to disclose their financial details in the application process unless they really believe they will get approved.   So the very high rejection rate even in this group would rather appear to be an indicator of the possibility of excessive pickiness on the side of the BOI, but we of course do not know the details.

Edited November 30, 2022 by K2938

[aublumberg]

1 hour ago, K2938 said:

 

This “gambling” approach to the LTR application is primarily among the digital nomad group which apply as Working-from-Thailand professionals.  This is also why the rejection rate for Working-from-Thailand professionals is 86% versus the overall rejection rate of “only” approximately 75%. 

 

 

However according to the statistics published at the end of October Working-from-Thailand professionals only account for about a third of all applications, so the other two thirds – with Wealthy Pensioners being the biggest sub-group thereof and largest of all application categories - still need to have an average rejection rate of approximately 70% so that the overall rejection average comes out at 75%.

 

 

Now we of course do not know the details, but the fact that thus about 70% of Wealthy Pensioner applications appear to get rejected seems extremely high as I would not expect to be so many “gamblers” in this group.  Also, while the application does not cost any money, most people – and especially among this group – will be reluctant to disclose their financial details in the application process unless they really believe they will get approved.   So the very high rejection rate even in this group would rather appear to be an indicator of the possibility of excessive pickiness on the side of the BOI, but we of course do not know the details.

I concur with your observations. I think the critical hurdle rate for WP type is non-work income (pension, investment income, rental income etc.) and the related documentary evidence. Not made easier by exchange rate swings recently. The insurance coverage and acceptable documentation and remaining (10+ months) run rate appears to be another hurdle.

 

Will be interesting to observe how this pans out over the coming 3 - 6 months ...

 

 

[Boomer6969]

7 hours ago, aublumberg said:

Since there is no application fee charged, I do think the threshold to apply is very low and a certain segment of applicants "just give it a go and see". This is also evident from a number of online forums.

"just give it a go and see" is precisely what I did. I was matching their requirement but I was expecting them to come back asking for embassy/foreign affairs certifications which they didn't. They could see my documentation was consistent and went ahead. 

 

So blaming them for being picky and/or rigid would be evidently unfair. My only fear is that the whole thing fails due to lack of suitable candidates and that the limited number of survivors be handed back, for subsequent processing, to Immigration who would then harass us unashamedly.

Edited November 30, 2022 by Boomer6969

[anotherexpat4444]

18 hours ago, Pib said:

Update: I called BoI about the LTR online acct website be VERY slow.   They are aware of the problem and hope to have the problem fixed this afternoon.

 

I then asked about the status of my application which was submitted 25 Oct...around 23 business days ago.  Took the rep approx 2 minutes to look up the status because the rep said their system is very slow right now.  I've been told that in by earlier calls over the last few weeks.  The rep said it's "processing."  I told him my online status shows "Pending"  and not Processing. I then asked what was meant by "processing" and the rep said it means my application has been initially looked at but not at detail level.  

 

I asked how much longer does he estimate before I get some kind of feedback via my online acct such as in a notification/email asking for more docs, approval, rejection, status change, etc.   He said approx 10 to 15 "working" days.    He said they have a lot of applications to review.

 

So, at this point in time it appears a typical application may take approx 40 "BoI working days" vs 20 working days to reach a point where a person will know whether their application is acceptable, needs more docs, etc.

 

 

I got an update as below -

Your qualification has been approved. Please provide the health insurance that covers the hospitalization in Thailand no less than 50,000 USD and valid at least 10 months.

 

what does this mean

[K2938]

13 minutes ago, anotherexpat4444 said:

I got an update as below -

Your qualification has been approved. Please provide the health insurance that covers the hospitalization in Thailand no less than 50,000 USD and valid at least 10 months.

 

what does this mean

It means that your LTR visa has been approved subject to you providing the health insurance information as stated.   So if you still want to get the LTR, your next step should be to provide this information.

[JJJJJJJJ]

15 hours ago, aublumberg said:

I concur with your observations. I think the critical hurdle rate for WP type is non-work income (pension, investment income, rental income etc.) and the related documentary evidence. Not made easier by exchange rate swings recently. The insurance coverage and acceptable documentation and remaining (10+ months) run rate appears to be another hurdle.

 

Will be interesting to observe how this pans out over the coming 3 - 6 months ...

 

 

Based on my observation, BOI is quite picky and very reluctant to let you pass, which can be testified by the passing rate. Even if you qualify for the conditions, they still take a very conservative position. 

[JJJJJJJJ]

15 hours ago, Boomer6969 said:

"just give it a go and see" is precisely what I did. I was matching their requirement but I was expecting them to come back asking for embassy/foreign affairs certifications which they didn't. They could see my documentation was consistent and went ahead. 

 

So blaming them for being picky and/or rigid would be evidently unfair. My only fear is that the whole thing fails due to lack of suitable candidates and that the limited number of survivors be handed back, for subsequent processing, to Immigration who would then harass us unashamedly.

What do you mean "handed back" and "harass unashamedly"?

[Misty]

16 hours ago, Boomer6969 said:

"just give it a go and see" is precisely what I did. I was matching their requirement but I was expecting them to come back asking for embassy/foreign affairs certifications which they didn't. They could see my documentation was consistent and went ahead. 

 

So blaming them for being picky and/or rigid would be evidently unfair. My only fear is that the whole thing fails due to lack of suitable candidates and that the limited number of survivors be handed back, for subsequent processing, to Immigration who would then harass us unashamedly.

my LTR evisa was issued by the NY consulate for 10 years. I may be missing something. How would Immigration be involved? What do you see happening?

 

[Boomer6969]

15 minutes ago, Misty said:

my LTR evisa was issued by the NY consulate for 10 years. I may be missing something. How would Immigration be involved? What do you see happening?

 

Well, if they wind down they will still have hundreds possibly thousand of people left to do yearly reporting and 5 years extensions, these would then be fully under the the control of OIs who are extremely creative in making our lives difficult. Right now, for people residing in Thailand, LTR visas are issued by Thai Immigration's Sathorn office, but they operate under the control of young and bright BOI employees. I am sure IOs don't like that, as this is a definite loss of opportunity, so ..

Edited December 1, 2022 by Boomer6969

[Misty]

1 hour ago, Boomer6969 said:

Well, if they wind down they will still have hundreds possibly thousand of people left to do yearly reporting and 5 years extensions, these would then be fully under the the control of OIs who are extremely creative in making our lives difficult. Right now, for people residing in Thailand, LTR visas are issued by Thai Immigration's Sathorn office, but they operate under the control of young and bright BOI employees. I am sure IOs don't like that, as this is a definite loss of opportunity, so ..

I'm not too concerned about this, for a number of reasons.  But I guess only time will tell.

[K2938]

23 hours ago, Boomer6969 said:

So blaming them for being picky and/or rigid would be evidently unfair. My only fear is that the whole thing fails due to lack of suitable candidates and that the limited number of survivors be handed back, for subsequent processing, to Immigration who would then harass us unashamedly.

 

7 hours ago, JJJJJJJJ said:

Based on my observation, BOI is quite picky and very reluctant to let you pass, which can be testified by the passing rate. Even if you qualify for the conditions, they still take a very conservative position.

1)  As tends to be the case with anecdotal evidence, one can always find positive and negative stories. But as JJJJJJJJ correctly points out, the huge rejection rate which consolidates all these different data points seems to indicate the possibility of quite fundamental flaws in this visa approval process.  I would have expected a rejection rate of maybe 10-20% for a program like this.  A rejection rate in the 70-85% range depending on the LTR category is just so many times higher than this figure that this is really rather worrying. 

Once the huge rejection rate becomes widely known this will probably also lead to a further decline in applications for the LTR program because some people who would in principle have been interested and who would probably meet the criteria will decide just not to bother applying because the huge rejection rate does not justify for them disclosing their confidential financial data, spending money on translation and notarization of documents and wasting their time applying for most likely being rejected.   So this is actually a rather important issue.

2)  For those already approved there would appear to be little reason to be concerned about this process being moved from the BOI to immigration and to fear "harassment" from the latter.  A program like this just needs to be centrally managed and the Smart visa program, which is also far from a stellar success, continues to be managed by the BOI as well.

[Boomer6969]

1 hour ago, K2938 said:

spending money on translation and notarization of documents and wasting their time applying

Which documents need translations & notarisation? None of those needed for the pensioner visa as far as I am concerned. And it would be difficult to spend more than a couple of hours to apply and 90 minutes to get the visa.

 

Also I wonder where you guys get all these figures from? And all the theories you develop are likely to be flawed simply because most of the unapproved applications will end up being approved in due course.

Edited December 1, 2022 by Boomer6969

[K2938]

23 minutes ago, Boomer6969 said:

Which documents need translations & notarisation? None of those needed for the pensioner visa as far as I am concerned.

Not everybody has the privilege of coming from English speaking countries.  Documents not in Thai or English need to be officially translated and various documents also need to be notarized in certain situations.

[lexxy]

I applied on the 3rd Nov, still in pending status. ????

For those with updates or approvals can you also provide submission dates?