LTR Visa is Now available for Long Term Residency

[K2938]

8 hours ago, oldcpu said:

I have not yet decided if I will buy the bonds/mutual-fund and apply for an LTR Visa, but I am giving it some thought.

The application rejection rate for LTR visas appears to be very high.  So if you really wanted to go down this route, it would make a lot of sense ONLY to buy anything if you have confirmation from the BOI that your application is fully approved in all aspects, subject to you buying whatever you want to buy.  Otherwise you run the huge risk of having bought something with all the expenses entailed and still getting rejected.

Edited December 9, 2022 by K2938

[Scott]

Off-topic, troll posts reported and removed. 

 

[Pib]

2 hours ago, K2938 said:

The application rejection rate for LTR visas appears to be very high.  So if you really wanted to go down this route, it would make a lot of sense ONLY to buy anything if you have confirmation from the BOI that your application is fully approved in all aspects, subject to you buying whatever you want to buy.  Otherwise you run the huge risk of having bought something with all the expenses entailed and still getting rejected.

And just to add to K2938's post in regards to any major financial decision/commitment a person must make before applying for an LTR I would not accept a answer/confirmation in response to a query submitted via their online contact form as many people have found out the answer given by those BoI reps working the contact queries may be different and much less experienced from the BoI reps that actually evaluate a person's application. 

https://ltr.boi.go.th/index.html#contact

 

Instead, first determine if you feel such a financial investment matches the exact wording listed in the BoI LTR requirements and also look at the application form where they require certain info on the investment to include investment documents.  Yes, look closely at both the requirements and the application form blocks.

https://ltr.boi.go.th/documents/Wealthy-Pensioner.pdf

 

And then get some kind of confirmation from application evaluators at BoI; not from just any person that answers the phone at BoI.  If possible you might even want to try to setup a virtual or physical meeting with BoI to discuss.

 

Committing oneself to buying long term Thai govt bonds solely (and hopefully) to meet the requirements of an LTR application is a major decision and a person needs to be as sure as possible the bond buy will indeed satisfy BoI.

 

[oldcpu]

3 hours ago, K2938 said:

The application rejection rate for LTR visas appears to be very high. 

I have been looking for such 'statistics' but I have not been able to find such.   What is the source that provides to you this appearance?

 

3 hours ago, K2938 said:

 

So if you really wanted to go down this route, it would make a lot of sense ONLY to buy anything if you have confirmation from the BOI that your application is fully approved in all aspects, subject to you buying whatever you want to buy.  Otherwise you run the huge risk of having bought something with all the expenses entailed and still getting rejected.

I think that is great advice.

 

Unfortunately, to obtain good solid 'confirmation' prior to investing/committing money is not something I think fully 100% doable in practice. 

 

To submit one's paperwork to BoI without the financial proof, is I believe setting one up for rejection.  I believe the financial proof needs to be in place as part of the application for the LTR Visa.

 

I believe that the best one can do, is what I am attempting, which is to contact/phone BoI in advance (of investment and in advance of LTR submission) and obtain a verbal assessment of someone on the phone that the investment is something they will accept. .... and then proceed from there. 

 

That (IMHO) verbal assessment is no true confirmation, but its likely, I suspect, the best that one can do.

 

This is Thailand and I think many expats will agree, there is a degree of risk in anything one does here. All one can do is manage their risk (following guidelines like you suggest with respect to confirmation prior to acting) is best that one can do.

Edited December 9, 2022 by oldcpu

[K2938]

5 hours ago, oldcpu said:

I have been looking for such 'statistics' but I have not been able to find such.   What is the source that provides to you this appearance?

If you scroll up in the thread, you will find the sources of the statistics.  If I remember correctly, about a week or two ago.

 

[OldAjahn]

An additional caution on prospective bonds. 'Savings bonds', the kind sold at a bank that OldCPU has mentioned, can be sold before maturity, but only at the cost of losing your pro-rated share of the next interest payment. (Different issues have slightly different rules - make sure to ask). Pantabat Rathaban, Treasury bonds, can be sold over-the-counter at any time for the market price. Unpaid interest is accrued daily and added to the sale price of the bond, so you never loose your interest. Download the offering list at CIMB THAI bank, they will buy and sell for you.

 

I still think it's a risky proposition, from a strictly financial point of view. Bonds are nearly as risky as stocks, in a long-term portfolio. But then again, not all decisions in life are purely financial, are they?

[oldcpu]

1 hour ago, K2938 said:

If you scroll up in the thread, you will find the sources of the statistics.  If I remember correctly, about a week or two ago.

 

I scrolled up (back) one month, and could not find those statistics.

 

The best I could find was a link to a fulcum.sg article you linked to on 20-Nov, but it did not contain those statistics for a Wealthy Pensioner application.

[K2938]

19 minutes ago, oldcpu said:

I scrolled up (back) one month, and could not find those statistics.

 

The best I could find was a link to a fulcum.sg article you linked to on 20-Nov, but it did not contain those statistics for a Wealthy Pensioner application.

As far as I remember that article contained a 14% success rate for Work-from-Thailand professionals which is extremely low.  And a few days later there was somebody who was told that he got the xth LTR visa from which one can work out an estimate of the overall success rate.  From other published data it is also known what the breakdown is between the different LTR categories, so with all this you can come up with a pretty good guess of the Wealthy Pensioner LTR visa.  As none of these figures come directly from the BOI, they could theoretically of course all be wrong, but prudence would dictate to be very careful with your investment decisions

Edited December 9, 2022 by K2938

[ThailandRyan]

7 minutes ago, K2938 said:

As far as I remember that article contained a 14% success rate for Work-from-Thailand professionals which is extremely low.  And a few days later there was somebody who was told that he got the xth LTR visa from which one can work out an estimate of the overall success rate.  From other published data it is also known what the breakdown is between the different LTR categories, so with all this you can come up with a pretty good guess of the Wealthy Pensioner LTR visa

Mine was the 15th LTRWP issued I was told. Issued October 7th.

[oldcpu]

58 minutes ago, K2938 said:

From other published data it is also known what the breakdown is between the different LTR categories, so with all this you can come up with a pretty good guess of the Wealthy Pensioner LTR visa.  As none of these figures come directly from the BOI, they could theoretically of course all be wrong, but prudence would dictate to be very careful with your investment decisions

Your efforts in trying to estimate the numbers are appreciated.

 

I thou, am curious to read the actual numbers if they are ever published. 

 

From what I can tell BOI are struggling to provide rapid LTR Wealthy Pensioner processing/approvals and I suspect many applicants are still being processed. Accordingly I have a suspicion the numbers are not as pessimistic as that estimate you calculated.  ...

 

But I concede at present, a suspicion of mine is not as good as the guess that you are attempting.

Edited December 9, 2022 by oldcpu

[Pib]

8 minutes ago, oldcpu said:

From what I can tell BOI are struggling to provide rapid LTR Wealthy Pensioner processing/approvals and I suspect many applicants are still being processed.

Amen Brother!!!  And I say that based on the s....l....o.....w processing of my LTRWP application (approx 1.5 months already) and others I know who are at around 2 months.  And phone calls to BoI which have all been polite and professional on both ends has yielded little other than them saying they have a lot of applications, their IT system is slow, they'll get to the application soonest, etc. 

 

IMO LTRWP processing  (and probably other categories as well) has slowed down a great deal since the LTR kickoff month in September when the BoI may have been staffed better to process LTR applications and/or more motivated to actually reach an approval or disapproval decision within their advertised 20 working days (approx 30 calendar days).   I bet 40 working days/2 calendar months is closer to the average processing time right now.

 

[aublumberg]

Please note the LTR Visa Issuance website has been completely rewritten. It seems the process is still being fine-tuned. LTR Visa Thailand - Visa Issuance (boi.go.th)

[Billpro785]

Checked on my status today, went from pending to Consideration by Government Agencies. 

Applied  Nov 9th for Wealthy Pensioner. 

[aublumberg]

51 minutes ago, Billpro785 said:

Checked on my status today, went from pending to Consideration by Government Agencies. 

Applied  Nov 9th for Wealthy Pensioner. 

It seems they finally implemented more meaningful status wording e.g. "Consideration by Government Agencies" or "Document Review for Visa / WP Issuance" as well as "Visa/ WP Issuance Pre-approved" and "Final approval" ... not necessarily in that order ????

[Pib]

6 hours ago, aublumberg said:

It seems they finally implemented more meaningful status wording e.g. "Consideration by Government Agencies" or "Document Review for Visa / WP Issuance" as well as "Visa/ WP Issuance Pre-approved" and "Final approval" ... not necessarily in that order ????

Based on my phones calls to BoI over the last month checking on the status of my application which was showing "Pending" I expect "Consideration by Government Agencies" simply means that BoI (a govt agency) is still processing the application which still means it's in pending status that could indicate the application has not been looked at yet, went back to an earlier queue location, maybe being looked at by a non-BoI department, etc.  

 

Now "Consideration by Govt Agencies" does give the impression a person's application is moving thru the process when in fact it could be (probably is) awaiting "internal BoI" initial  or additional  review/processing.

 

Mine showed Pending status around 9pm last night....but at 5am this morning it now shows Consideration by Govt Agencies...but I'm sure my application hasn't moved an additional inch in the BoI process overnight nor from where it was last week based on my calls checking on status.. 

 

This is surely just a renaming of status descriptions in an overnight software update trying to convey application movement instead of stagnation/still in the queue.  Hoping to cut down on the number of calls to BoI asking why a person's application doesn't seem to be moving.

 

[Misty]

2 hours ago, Pib said:

Based on my phones calls to BoI over the last month checking on the status of my application which was showing "Pending" I expect "Consideration by Government Agencies" simply means that BoI (a govt agency) is still processing the application which still means it's in pending status that could indicate the application has not been looked at yet, went back to an earlier queue location, maybe being looked at by a non-BoI department, etc.  

 

Now "Consideration by Govt Agencies" does give the impression a person's application is moving thru the process when in fact it could be (probably is) awaiting "internal BoI" initial  or additional  review/processing.

 

Mine showed Pending status around 9pm last night....but at 5am this morning it now shows Consideration by Govt Agencies...but I'm sure my application hasn't moved an additional inch in the BoI process overnight nor from where it was last week based on my calls checking on status.. 

 

This is surely just a renaming of status descriptions in an overnight software update trying to convey application movement instead of stagnation/still in the queue.  Hoping to cut down on the number of calls to BoI asking why a person's application doesn't seem to be moving.

 

In one of my calls in Sep/Oct time frame, the BoI staff explained that my application had been approved by the BoI, and was now with Immigration for final review.  The staff member also explained that the "20 working days" was for the BoI process only, and didn't include any additional time that other agencies might spend on the application. After a few days or a week, I received the final "approval" from all the gov't agencies in Thailand, and was asked where I would like to receive the LTR visa (in Bangkok or from a Thai consulate outside the country). 

 

So I wonder if "Consideration by Govt Agencies" could mean that the BoI has approved the application, and is waiting on Immigration.  It wouldn't surprise me if some of the delay current applications are experiencing now are at the "gov't agencies" level (I.e. Immigration) and not internal to the BoI.

 

[Pib]

59 minutes ago, Misty said:

So I wonder if "Consideration by Govt Agencies" could mean that the BoI has approved the application, and is waiting on Immigration.  It wouldn't surprise me if some of the delay current applications are experiencing now are at the "gov't agencies" level (I.e. Immigration) and not internal to the BoI.

 

I've been told twice in two separate calls to two separate BoI reps in mid and late Nov my application was "out for review."    A few days after that late Nov call my status changed from Pending to Request for Additional Docs which I provided same day....the status immediately went back to Pending.  Based on a call this week BoI hasn't had a chance to review those additional docs but should soon.

[anotherexpat4444]

Anyone know what is meaning of " consideration by government agencies"  .  i saw my status changed to this from pending. bit anxious

[ThailandRyan]

18 minutes ago, anotherexpat4444 said:

Anyone know what is meaning of " consideration by government agencies"  .  i saw my status changed to this from pending. bit anxious

I think @Mistyhit the nail on the head with here above answer.  It is up to immigration to check your visa status if your already in the country as they have that info.

[Pib]

10 minutes ago, anotherexpat4444 said:

Anyone know what is meaning of " consideration by government agencies"  .  i saw my status changed to this from pending. bit anxious

Since you said you received notification on 7 Dec your application had been approved, hopefully in your case it just means the BoI and Immigration are still coordinating the official notification of approval letter that you would use to actually get the Visa from the BoI Immigration or a Thai embassy depending on where you requested that you pay and have the visa issued at. 

 

But for those who had not received notification of approval yet, I expect "Consideration by Govt Agencies" could mean BoI as a govt agency is still reviewing/processing your application, maybe BoI asked a couple other govt agencies if they have any issues with your application (like making sure you are not on some bad-boy list, etc.

 

Personally I don't think the change is much different than a few weeks ago on another Saturday morning software update when the BoI changed the online status "Staff Name" entries to start showing a "Screen number" like Screen 3 instead of a StaffBOI entry 3 or 4 digit number.   As it turned out a Screen number like say Screen 3, only represented a "screener" at BoI who supposedly had a person's application in their inbox.  And when I asked to talk to Screen 3 in my calls I was told it could really represent several different screeners/evaluators...like BoI co-workers in the same section.  

 

 

[Misty]

30 minutes ago, Pib said:

Since you said you received notification on 7 Dec your application had been approved, hopefully in your case it just means the BoI and Immigration are still coordinating the official notification of approval letter that you would use to actually get the Visa from the BoI Immigration or a Thai embassy depending on where you requested that you pay and have the visa issued at. 

 

But for those who had not received notification of approval yet, I expect "Consideration by Govt Agencies" could mean BoI as a govt agency is still reviewing/processing your application, maybe BoI asked a couple other govt agencies if they have any issues with your application (like making sure you are not on some bad-boy list, etc.

 

Personally I don't think the change is much different than a few weeks ago on another Saturday morning software update when the BoI changed the online status "Staff Name" entries to start showing a "Screen number" like Screen 3 instead of a StaffBOI entry 3 or 4 digit number.   As it turned out a Screen number like say Screen 3, only represented a "screener" at BoI who supposedly had a person's application in their inbox.  And when I asked to talk to Screen 3 in my calls I was told it could really represent several different screeners/evaluators...like BoI co-workers in the same section.  

 

 

In phone calls, the BoI said my application was "approved" by the BoI by the 3d week of Sep.  But it still wasn't marked "Approved" overall until 4 Oct. In late Sep the BoI said they'd forwarded the application to, and were waiting on, Immigration.  Finally on 4 Oct the online system marked the application as "Approved" and I was asked to confirm where I wanted to receive the LTR visa. 

 

So if BoI hasn't asked anotherexpat4444 where you want to receive the LTR visa yet, suggest checking to see what the BoI meant by saying your application is "approved" .   Maybe it's still with Immigration.

 

 

 

 

 

[Pib]

As a reminder this coming Monday/12 Dec is a holiday (observed Constitution Day) which means govt agencies like the BoI will be closed.  So don't expected to see any LTR application status changes or being able to call BoI no sooner than 13 Dec/Tuesday.

[aublumberg]

2 hours ago, anotherexpat4444 said:

Anyone know what is meaning of " consideration by government agencies"  .  i saw my status changed to this from pending. bit anxious

BOI is the coordinating agency, but doesn't make the decision in isolation. They check with immigration (e.g. if an application has overstayed previously) and afaik also police.

[Pib]

Below BoI announcement on the BoI LTR website shows what other agencies an application might be sent to for consideration. 

 

To me it's unclear whether it's sent before or after BoI completes its review and is satisfied with the supporting evidence/docs.  But based on paragraphs 2.1 and 2.2 wording I think it's "before" the BoI completes its detailed review...and then after the BoI completes its final review/recommendation for approval it then goes back to Immigration to finalize approval.

 

For those who recently submitted your application (like say over the last week or so) it would be helpful to know what your application status now shows after the BoI software update today/Sat/10 Dec where people who had a status of "Pending" Friday night/9 Dec woke-up to a new status of "Consideration by Govt Agencies" on Saturday morning/10 Dec.   If your status also now suddenly shows "Consideration by Govt Agencies" with your application only having been submitted recently (say the last week or two) then "Consideration by Govt Agencies" is probably just the new "Pending."   But hey, maybe some of you are still showing "Pending"....please give us some crossfeed if your application still shows Pending as of 10 Dec/Saturday.

 

 

https://ltr.boi.go.th/documents/Announcement of the Office of the Board of Investment_No.3-2565 (EN).pdf

Quote

 

1. Application Submission Alien persons seeking certification of qualification shall submit the application via the electronic or other channels specified by the Office of the Board of Investment.

 

2. Certification of qualification

2.1 Upon receipt of the application for certification of qualification together with the complete evidence, the OneStop Service Center for Visa and Work Permit (the Center) shall forward the application to the following related agencies for processing:

 

2.1.1 The Ministry of Foreign Affairs: to examine the applicant's record and any suspicions of harmful behavior to the country, only in the case that the applicant is among the nationals on the watch list or in any suspicious cases.

 

2.1.2 The Immigration Bureau: to examine and ensure that the applicant is not prohibited from entering the Kingdom by the laws on immigration.

 

2.1.3 The Department of Employment: to examine and ensure that the employment is not prohibited by law, in the case that the position or duty of the applicant does not explicitly suggest whether it is a foreigner-prohibited occupation.

 

2.1.4 The Digital Economy Promotion Agency, the National Science and Technology Development Agency, or other related agencies: to examine and verify that the applicant is a genuine highly skilled professional, only in the case of the applicant as a highly skilled professional submitting evidence of education or work experience that does not indicate the explicit area of expertise.

 

2.1.5 The Office of the Board of Investment: to certify that the applicant’s work is in the targeted industry, only in the case that the applicant is categorized as a highly skilled professional.

 

2.2 The agencies specified in Items 2.1.1 -2.1.5 must notify the One Stop Service Center for Visa and Work Permit of the result of the consideration.

2.3 The One Stop Service Center will consider and screen the applicant under the Announcement of the Office of the Board of Investment regarding Qualifications, Criteria, and Conditions for Long-Term Resident Visa (LTR Visa) under Measure to Stimulate Economy and Investment by Attracting High-Potential Alien Persons to Thailand, and shall notify of the consideration result as follows:

 

2.3.1 In the case that the applicant does not meet the qualification criteria: The Center shall notify the applicant and/or relevant agencies of the consideration result, whatever the case may be.

2.3.2 In the case that the applicant meets the qualification criteria:

 

(1) The Center shall notify the applicant of the consideration result so that the applicant shall proceed with the application for the Long-Term Resident Visa at the One Stop Service Center for Work Permit or Royal Thai Embassy or Thai Consulate in foreign countries within 60 days from the date of the qualification certificate issuance.

 

(2) The Center shall notify the Ministry of Foreign Affairs, the Immigration Bureau, or other agencies designated by the Immigration Bureau, of the results of the consideration to carry out the relevant processes.

 

Edited December 10, 2022 by Pib

[K2938]

3 hours ago, Pib said:

For those who recently submitted your application (like say over the last week or so) it would be helpful to know what your application status now shows after the BoI software update today/Sat/10 Dec where people who had a status of "Pending" Friday night/9 Dec woke-up to a new status of "Consideration by Govt Agencies" on Saturday morning/10 Dec.   If your status also now suddenly shows "Consideration by Govt Agencies" with your application only having been submitted recently (say the last week or two) then "Consideration by Govt Agencies" is probably just the new "Pending."   But hey, maybe some of you are still showing "Pending"....please give us some crossfeed if your application still shows Pending as of 10 Dec/Saturday.

Slightly broadening the question by Pib re the new "Consideration by Govt Agencies" status: 

Is there anybody at all with a pending application - regardless of application time - where the status has NOT now changed from "Pending" to "Consideration by Govt Agencies"?

If there is nobody without the change, then "Consideration by Govt Agencies" would indeed appear to be only a renaming of "Pending" and not an indication of progress.
 

Edited December 10, 2022 by K2938

[at92uk]

Hey guys I'm looking for some clarifications regarding the "Work from thailand professionals" LTR. I've tried to search in the forum but didn't get any appropriate results.

 

- For this type of Visa, do I need to meet ALL the criteria or just one?

- One of the required documents is the "Annual personal income tax return". As far as I know, in the UK we'd only do this if you're self employed? I'm employed by a company (not mine) what would I need to provide here?

Edited December 10, 2022 by at92uk

[K2938]

21 hours ago, at92uk said:

- For this type of Visa, do I need to meet ALL the criteria or just one?

Not sure I understand.  You need to meet all the criteria for your LTR type

 

21 hours ago, at92uk said:

- One of the required documents is the "Annual personal income tax return". As far as I know, in the UK we'd only do this if you're self employed? I'm employed by a company (not mine) what would I need to provide here?

Explain the situation and provide the next best thing instead

[Pib]

21 hours ago, at92uk said:

Hey guys I'm looking for some clarifications regarding the "Work from thailand professionals" LTR. I've tried to search in the forum but didn't get any appropriate results.

 

- For this type of Visa, do I need to meet ALL the criteria or just one?

- One of the required documents is the "Annual personal income tax return". As far as I know, in the UK we'd only do this if you're self employed? I'm employed by a company (not mine) what would I need to provide here?

Yes, you must meet all criteria although some individual criteria can be met in different ways like income level and health insurance.

 

Regarding "Annual Personal Income Tat Return" if such a form is not routinely used in a country like the UK I expect a tax transcript type document like a UK P60 form would work as the P60 is suppose to show wages/earning, taxes paid, etc., according to my googling.  

https://www.gov.uk/paye-forms-p45-p60-p11d/p60

https://www.goforma.com/tax/what-is-p60-form

 

Other income evidence would probably be acceptable.....hopefully a UK person who has successfully applied for an LTR will give an answer/recommendations.

 

As a US person I do have to file a tax return regardless of where I live in the world (most US people do unless income falls below a certain level) and a US person can also get a "tax transcript" from the Internal Revenue Service (IRS) that is basically an IRS confirmation you did file a tax return which they processed....the tax transcript is really not very "layman" friendly but it does show all income, taxes, deductions, credits, etc., associated with your tax return.   

 

But at the same time a person's tax return/transcript might not show all income like in the case of some govt pensions such a U.S. Veteran's Administration (VA) pension/benefit that are 100% tax free, non-reportable on a tax return and the the VA does not provide an tax docs for an annual tax return because by law the VA benefits/pension is non-taxable.   But as mentioned each country used different forms and methods to report annual income and taxes, has different tax laws as to what is taxable/reportable......all you can do is provide the best available documents you have to prove your gross income.   Remember, they are looking for "gross" income and not "net" income.

[at92uk]

4 hours ago, K2938 said:

Not sure I understand.  You need to meet all the criteria for your LTR type

 

Explain the situation and provide the next best thing instead

 

4 hours ago, Pib said:

Yes, you must meet all criteria although some individual criteria can be met in different ways like income level and health insurance.

 

Thank you both, I got confused because when you visit the website here https://ltr.boi.go.th/#type only the "Wealthy Global Citizen" mentions "Applicants must fulfill all of the above requirements to be eligible". Then when I went to check the list of required documents here https://ltr.boi.go.th/documents/Work-From-Thailand-Professional-required-documents.pdf the item "An audited corporate’s annual financial statement or financial report in the last 3 years" is marked with the "triangle" symbol which would indicated it's optional.

I meet all the criteria except the nonsense about the public company or company revenue ????

[Pib]

43 minutes ago, at92uk said:

 

Thank you both, I got confused because when you visit the website here https://ltr.boi.go.th/#type only the "Wealthy Global Citizen" mentions "Applicants must fulfill all of the above requirements to be eligible". Then when I went to check the list of required documents here https://ltr.boi.go.th/documents/Work-From-Thailand-Professional-required-documents.pdf the item "An audited corporate’s annual financial statement or financial report in the last 3 years" is marked with the "triangle" symbol which would indicated it's optional.

I meet all the criteria except the nonsense about the public company or company revenue ????

 

Yea....that one statement in red (snapshot below) only under the Wealthy Global Citizen requirements could  imply other LTR categories like Work From Thailand Professional category might not have to meet all requirements.   Seems the BoI should put a similar statement in red under all categories if they really want to point out "all" requirements must be met regardless of type of LTR applying for.  

 

 

There are actually quite a few "little things" on the LTR website, online application form, and manual application form that seem to conflict somewhat....hopefully they cleanup those conflicts sooner or later....and they have been making wording and software updates to their website to hopefully make it a better website and speedup processing of LTR applications.