LTR Visa is Now available for Long Term Residency

[OldAjahn]

Thanks, OldCPU, for the reports of your conversations with BOI. Now we need clarification of their rules. Because if a 5+ year bond is required, how could a mutual fund, so readily saleable, be allowed? If I'm following correctly, an applicant could sell the bond just after receiving the visa, and buy a new one just before the five year review, which doesn't make sense from BOI's point of view.

 

If 5 year + maturity and held past the review date is the true regulation, then check www.thaibma.or.th/EN/Market/YieldCurve/Government.aspx for a list of government bonds of all maturities and spreads. The over-the-counter market is not that liquid for off-the-run issues, I was told, and spreads are wide. So you need to look for recent (on-the-run) issues. To buy five year bonds, there would be an overlap at your 5-year review when you would be holding $500,000 worth of Thai paper, not a safe situation. In the US, the 30-year bond is the usual investor's choice: least volatile, most liquid. You'll see one recent 20 year and a 30-year on the ThaiBMA list. I'm thinking of going that route to the LTR myself, but there's a real question whether that fits with prudent long-term investment goals.

 

Following the old 60/40 rule, you would allocate 250k to bonds and 375k to equities if your total portfolio of investable assets (not including your primary residence) was 625k. But according to the home-currency rule, at least 60% should be in the home currency. So if my home is dollars, Thai bonds could be allocated 40% of 40% = 16%. Then I would expect a total port. of 1.57 million. Sorry, out of my league. If all your assets and all your expenses are in baht, and you expect to live in Thailand till the end, then your home currency is baht. But if even one of those criteria doesn't hold, then it's dollars or pounds or whatever. If you have a well-diversified international portfolio, and want a high yield on your investments, chances are your currency should be dollars.

 

Also, there's a recession coming, and the Thai bond yield curve is not yet showing the extreme inversion (recession-pricing) that the US curve shows, which suggests that Thai bonds bought now will loose money in the short-medium term. If you want to buy a 20 or 30 year bond, make sure your portfolio is set up to handle the inflation and FX risk.

 

 

[K2938]

1 hour ago, OldAjahn said:

Thanks, OldCPU, for the reports of your conversations with BOI. Now we need clarification of their rules. Because if a 5+ year bond is required, how could a mutual fund, so readily saleable, be allowed? If I'm following correctly, an applicant could sell the bond just after receiving the visa, and buy a new one just before the five year review, which doesn't make sense from BOI's point of view.

 

If 5 year + maturity and held past the review date is the true regulation, then check www.thaibma.or.th/EN/Market/YieldCurve/Government.aspx for a list of government bonds of all maturities and spreads. The over-the-counter market is not that liquid for off-the-run issues, I was told, and spreads are wide. So you need to look for recent (on-the-run) issues. To buy five year bonds, there would be an overlap at your 5-year review when you would be holding $500,000 worth of Thai paper, not a safe situation. In the US, the 30-year bond is the usual investor's choice: least volatile, most liquid. You'll see one recent 20 year and a 30-year on the ThaiBMA list. I'm thinking of going that route to the LTR myself, but there's a real question whether that fits with prudent long-term investment goals.

 

Following the old 60/40 rule, you would allocate 250k to bonds and 375k to equities if your total portfolio of investable assets (not including your primary residence) was 625k. But according to the home-currency rule, at least 60% should be in the home currency. So if my home is dollars, Thai bonds could be allocated 40% of 40% = 16%. Then I would expect a total port. of 1.57 million. Sorry, out of my league. If all your assets and all your expenses are in baht, and you expect to live in Thailand till the end, then your home currency is baht. But if even one of those criteria doesn't hold, then it's dollars or pounds or whatever. If you have a well-diversified international portfolio, and want a high yield on your investments, chances are your currency should be dollars.

 

Also, there's a recession coming, and the Thai bond yield curve is not yet showing the extreme inversion (recession-pricing) that the US curve shows, which suggests that Thai bonds bought now will loose money in the short-medium term. If you want to buy a 20 or 30 year bond, make sure your portfolio is set up to handle the inflation and FX risk.

For many people who would need to invest 250k USD in Thai government bonds to get the LTR, it would probably make more sense from a financial point of view to look at other visas, the Non-O if over 50 or married to a Thai and Thai Elite if not.  The sweet spot for the LTR is people who have sufficient income so that no investment is required or those who have sufficient real estate investments in Thailand anyway

Edited December 8, 2022 by K2938

[Misty]

15 minutes ago, K2938 said:

For many people who would need to invest 250k USD in Thai government bonds to get the LTR, it would probably make more sense from a financial point of view to look at other visas, the Non-O if over 50 or married to a Thai and Thai Elite if not.  The sweet spot for the LTR is people who have sufficient income so that no investment is required or those who have sufficient real estate investments in Thailand anyway

Or for those who wish to work

[oldcpu]

On 12/7/2022 at 6:46 PM, OldAjahn said:

2. Pantabat omsap: this is a savings bond issued by the Finance Ministry to encourage savings by Thais, similar to savings bonds in the US, and sold here through banks. By government regulations it can only be sold to Thai citizens and legal permanent residents, though there is some confusion whether it might also be available to holders of the 'yellow book'.

 

Further to this, I went to a Bangkok Branch today and inquired about purchasing the soon to be offered Thai Government saving's bond. 

 

I was told there are currently two offerings coming up now for Thai government bonds, via Bangkok Bank, which is :

(1) selling 3 year and also 7 year term bonds - where Thai citizens and residents to Thailand can buy such, and

(2) a week later selling 10 year term bonds - where only companies/select organizations can buy such (I may have described that inaccurately - but private citizens can not buy this 10-year offering from my Bangkok Bank branch).

 

To 'speed up' the discussions with the bank, my Thai wife was talking to them in Thai language and translating to me.  At first my wife was told I could not buy the 3 year nor 7 year as they noted a foreigner had to be a 'resident'. My wife then showed them both my 'yellow book' (tabien baan) and my 'pink identification' card, and the branch manager noted that would be accepted as sufficient proof of my Thailand residence. 

 

However I have not yet attempted to place an order to buy the bonds - so its always possible they will change their mind when 'push comes to shove' (so to speak).

 

Some other tidbits ... my wife was told, normally when Bangkok Bank sells Government bonds, it is 1st come, 1st served as to who gets the bonds.  But this year,they are doing it differently for the 3-year and for the 7-year bonds. 

 

The Bank has received so many complaints that its incredibly difficult for the average person to buy government bonds, that they have changed 'the priority'.  Instead my wife translated their new policy to be something like 'small lot 1st priority' , which she claimed she was told it could end up be more like a % basis as to whom gets how much.   She was advised if I tried to purchase 2-million Thai baht in bonds, it was quite possible I would only get a small % of that purchase amount.

 

My wife was advised if I put an order for, say 2-million THB, then that amount had to be present in my bank account the date the bond was to be purchased. It would be briefly withdrawn from my Bangkok Bank account, and I would then get what ever allotment was available (to myself) and then the remainder of the 2-million THB not used would be returned, together with the Bond.   The 'bond' ownership would be recorded in a special book, somewhat like a bank book that one was given (my wife said given by the 'Bank of Thailand').  Interest would be transferred into one's account and tax automatically deducted from the Bond interest. ... Alternatively (?) one could also apply (and pay for) a bond certificate - with the details here wrt Thai tax on the interest a bit fuzzy for me. .... I was told more details, but its not so relevant to this thread.

 

I suspect some of the detail here is lost in the translation so don't take the above as gospel.

 

- - -

 

After this my wife and I visited a Krungsri bank branch, where my wife knows one of the staff, and we inquired about purchasing of mutual fund (Thai investment) ... Krungsri noted they sold such, a foreigner could buy such, and typically they had a new offering every month.   My view is if I would proceed there, I should get the exact name of the fund, and then pass it by BoI (likely phone BoI) to confirm that the specific mutual fund would be acceptable.

 

I could then go for a mix of Goverment bonds, Mutual fund, and my 50% share of my condo ownership - which would exceed the $250K US$ equivalent for the Wealthy Pensioner (with an income >$40K US$ but < $80K US$) with some margin.

 

I note my 90-day Type-O Visa permission to stay expires mid-Feb-2023, which is IMHO possibly insufficient time to apply and obtain an LTR Visa (Wealthy pensioner).  So I guess I could (1) in early January apply for a 1-year extension on my permission to stay of my Type-O Visa, and (2) in parallel apply for an LTR Visa via BoI. 

 

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.

 

 

 

 

Edited December 8, 2022 by oldcpu

[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