LTR Visa is Now available for Long Term Residency

[mudcat]

I put my faith in a treaty between two sovereign states before any decree, because there is no recourse or appeal and the language is clear and less subject to "new" readings.

[Thailand J]

Anyone please.

To apply for LTR visa:

Do I need to submit a passport size picture print at any point? Since online application takes jpg and at the visa issuance they'll take my picture.

What kinda signature is acceptable at the end of online application?

 

With LTR visa: can I get Certification of Residence at local IO? Will I get 2 years or 5 years drivers license renewal?

 

 

[SHA 2 BKK]

Hi all. Got this from a Law/Tax firm I use in Bangkok.  I didn’t use them for my LTR Visa as I did it online with the BOI but used them some years ago on some other matters.  Their clear advice is no Tax Changes for LTR Visa holders with the recent RD Direction on overseas remittance. 
 

“Thank you for interested in our article and services.

We are pleased to inform you that the latest Revenue Department Order No.
Por 161/2566 on Income Tax (the “Revenue Department Order”) does not extend
to the Royal Decree issued under the Revenue Code Governing the Reduction of
Tax Rates and Exemption of Taxes (No. 743) B.E. 2565 (2022) (the “Royal
Decree”). Therefore, any foreigner who wish to apply the LTR still enjoys
the privileges from the personal income tax exemptions under the Royal
Decree.”

[Ben Zioner]

 

 

21 hours ago, SHA 2 BKK said:

Hi all. Got this from a Law/Tax firm I use in Bangkok.  I didn’t use them for my LTR Visa as I did it online with the BOI but used them some years ago on some other matters.  Their clear advice is no Tax Changes for LTR Visa holders with the recent RD Direction on overseas remittance. 
 

“Thank you for interested in our article and services.

We are pleased to inform you that the latest Revenue Department Order No.
Por 161/2566 on Income Tax (the “Revenue Department Order”) does not extend
to the Royal Decree issued under the Revenue Code Governing the Reduction of
Tax Rates and Exemption of Taxes (No. 743) B.E. 2565 (2022) (the “Royal
Decree”). Therefore, any foreigner who wish to apply the LTR still enjoys
the privileges from the personal income tax exemptions under the Royal
Decree.”

Where would that leave the "Elite" people? Rich enough to cough up the Tax ? Or will  they just adjust the  number of days  the spend in Thailand?

 

While the Non O people who transfer only 65000  a month won't be relay affected, something less than 3K a month. But they will be the most exposed so  they'll have to pay their bit, I can anticipate the tantrums.

 

Whatever I'd prefer they issued rules protecting all pensioners, and/or Tax per family unit instead of individuals. The 30K per child are just an insult to those concerned.

[SHA 2 BKK]

18 minutes ago, Ben Zioner said:

 

 

Where would that leave the "Elite" people? Rich enough to cough up the Tax ? Or will  they just adjust the  number of days  the spend in Thailand?

 

While the Non O people who transfer only 65000  a month won't be relay affected, something less than 3K a month. But they will be the most exposed so  they'll have to pay their bit, I can anticipate the tantrums.

 

Whatever I'd prefer they issued rules protecting all pensioners, and/or Tax per family unit instead of individuals. The 30K per child are just an insult to those concerned.

“Where would that leave the "Elite" people? Rich enough to cough up the Tax ? Or will  they just adjust the  number of days  the spend in Thailand?”

 

I came off the Elite to the LTR and by golly in hindsight I am glad I did.  At least there is some protection afforded to LTR a through the Royal Decree (743).  Though I am sure DTAs will (should) protect me from extra Tax the LTR does give me an extra level of comfort. 
 

As for Elite Visas, after jacking up the price, there might be some nervous nellies, especially among some groups with untaxed income.   Those Elite Visa greeting staff with the little golf buggy at Swampy might get extra busy as Elite Visa holders make more trips abroad to avoid the 183 day test.   

[Tequila Sunrise]

Hi, folks.

 

Newbie member here, just joined today, this is my first post.

 

A few quick questions to pick the brains of the experienced members:

 

1. I am in the process of applying for the LTR Visa Highly Skilled Professional. To say I exceed the requirements is an understatement, I am significantly over qualified on all criteria. However, I applied 5 months ago and my application is currently showing as "IMM / DOE pre-approve visa/WP Issuance." I have never been challenged or asked to provide any further documentation / evidence. My application seems to get stuck on each status for many weeks. Has anyone else experienced this? Can I assume it's just Thai inefficiency or is there perhaps something wrong? Maybe already approved too many so hit a short term quota?

 

2. I am already working in Thailand in the digital industry and am on a different type of work permit that was provided by my company. If/when I get the LTR HSP is this Visa tied to my job? If I lost my job would my LTR be immediately cancelled? Or would it remain valid for the full 5 years regardless?

 

3. On a separate but related note, I am paying an ungodly amount of taxation in Thailand. It is stopped at source by my company as I am a full time PAYE employee. Is there any way to get any of this tax paid back by using allowances, etc. The main reason I am applying for LTR HSP is to hopefully get the 17% flat rate tax instead of the current 35% I am paying.

 

Many thanks for reading my newbie questions and I'd greatly appreciate any insights or replies. I am hoping to share back my experience of being a full time working professional in Thailand as I notice I might be in a minority category as it seems most members are (lucky) retirees.

 

Additional info: UK Citizen, based in Bangkok.

 

Thanks. 

 

 

 

 

    

[JimTripper]

2 hours ago, Tequila Sunrise said:

Hi, folks.

 

Newbie member here, just joined today, this is my first post.

 

A few quick questions to pick the brains of the experienced members:

 

1. I am in the process of applying for the LTR Visa Highly Skilled Professional. To say I exceed the requirements is an understatement, I am significantly over qualified on all criteria. However, I applied 5 months ago and my application is currently showing as "IMM / DOE pre-approve visa/WP Issuance." I have never been challenged or asked to provide any further documentation / evidence. My application seems to get stuck on each status for many weeks. Has anyone else experienced this? Can I assume it's just Thai inefficiency or is there perhaps something wrong? Maybe already approved too many so hit a short term quota?

 

2. I am already working in Thailand in the digital industry and am on a different type of work permit that was provided by my company. If/when I get the LTR HSP is this Visa tied to my job? If I lost my job would my LTR be immediately cancelled? Or would it remain valid for the full 5 years regardless?

 

3. On a separate but related note, I am paying an ungodly amount of taxation in Thailand. It is stopped at source by my company as I am a full time PAYE employee. Is there any way to get any of this tax paid back by using allowances, etc. The main reason I am applying for LTR HSP is to hopefully get the 17% flat rate tax instead of the current 35% I am paying.

 

Many thanks for reading my newbie questions and I'd greatly appreciate any insights or replies. I am hoping to share back my experience of being a full time working professional in Thailand as I notice I might be in a minority category as it seems most members are (lucky) retirees.

 

Additional info: UK Citizen, based in Bangkok.

 

Thanks. 

Visit bangcock.

[SHA 2 BKK]

1 hour ago, JimTripper said:

Visit bangcock.

Agree.  Don’t know where you’re based mate but get to the BOI One Stop Service Centre at Chamchuri Square. I had my Pensioner LTR in two weeks but my wife daughter got “frozen” somehow in the system.  It was Christmas/New Year and we were overseas.   When we got back I visited the Centre and things were done in 72 hours. 
 

2.  Yes I think your LTR is cancelled unless you find a new Employer who you qualify with - Misty will know.  
 

3.   No you can’t claim any privileges until you have your LTR. I’d get a Thai accountant to maximize allowances etc.  

 

Seriously cobber I’d go to Chamchuri Square with all your paperwork. 

[Tequila Sunrise]

1 hour ago, SHA 2 BKK said:

Agree.  Don’t know where you’re based mate but get to the BOI One Stop Service Centre at Chamchuri Square. I had my Pensioner LTR in two weeks but my wife daughter got “frozen” somehow in the system.  It was Christmas/New Year and we were overseas.   When we got back I visited the Centre and things were done in 72 hours. 
 

2.  Yes I think your LTR is cancelled unless you find a new Employer who you qualify with - Misty will know.  
 

3.   No you can’t claim any privileges until you have your LTR. I’d get a Thai accountant to maximize allowances etc.  

 

Seriously cobber I’d go to Chamchuri Square with all your paperwork. 

Thanks.

 

I am already here in Bangkok, living and working here for the last 1 year on what I think is called a Non-O visa? The visa was provided by my company. I'm trying to convert said visa to the LTR-HSP to help save on tax liabilities. If I shared how much tax I pay your eyes would water. 

 

Can you/anyone recommend a good/trustworthy Thai accountant that I can speak to about my taxes?

 

I wish I had used an agent to help me process the application. Thai bureaucracy is not for the faint hearted. In fact to share a story I did use an agent. He collected all my documents and then insisted on 65,000 THB payment upfront. I paid and he disappeared 😞 when I contacted the agency to complain about this agent they basically said they cannot help and it is a police matter I should go to the police. Hence, I was off to a bad start and decided to do the application myself and it has been "stuck" for months. I contacted another agency and asked can I pay them to take over but they said sorry they can't take over any in progress application and that I would need to cancel my application and start again. As recommended I will go down to the BOI office and see why things are not progressing.

 

I found the confirmation online that the LTR-HSP is immediately cancelled should I lose my job (I am assuming with no refund on the 10 year fee). It also states that if I move from one company to another company I need to get permission from BOI to continue the LTR.

 

Thanks for reading and helping.

 

 

 

 

[Thailand J]

7 hours ago, Tequila Sunrise said:

A few quick questions

Goto https://ltr.boi.go.th/#contact

Post your questions.

Lately I have been getting replies the next day.

Edited October 19, 2023 by Thailand J

[Misty]

3 hours ago, SHA 2 BKK said:

Agree.  Don’t know where you’re based mate but get to the BOI One Stop Service Centre at Chamchuri Square. I had my Pensioner LTR in two weeks but my wife daughter got “frozen” somehow in the system.  It was Christmas/New Year and we were overseas.   When we got back I visited the Centre and things were done in 72 hours. 
 

2.  Yes I think your LTR is cancelled unless you find a new Employer who you qualify with - Misty will know.  
 

3.   No you can’t claim any privileges until you have your LTR. I’d get a Thai accountant to maximize allowances etc.  

 

Seriously cobber I’d go to Chamchuri Square with all your paperwork. 

I also understand that an LTR HSP is tied to your job.  LTR HSP would be cancelled if you left the job.  You'd need a new type of visa. 

[SHA 2 BKK]

2 hours ago, Tequila Sunrise said:

Thanks.

 

I am already here in Bangkok, living and working here for the last 1 year on what I think is called a Non-O visa? The visa was provided by my company. I'm trying to convert said visa to the LTR-HSP to help save on tax liabilities. If I shared how much tax I pay your eyes would water. 

 

Can you/anyone recommend a good/trustworthy Thai accountant that I can speak to about my taxes?

 

I wish I had used an agent to help me process the application. Thai bureaucracy is not for the faint hearted. In fact to share a story I did use an agent. He collected all my documents and then insisted on 65,000 THB payment upfront. I paid and he disappeared 😞 when I contacted the agency to complain about this agent they basically said they cannot help and it is a police matter I should go to the police. Hence, I was off to a bad start and decided to do the application myself and it has been "stuck" for months. I contacted another agency and asked can I pay them to take over but they said sorry they can't take over any in progress application and that I would need to cancel my application and start again. As recommended I will go down to the BOI office and see why things are not progressing.

 

I found the confirmation online that the LTR-HSP is immediately cancelled should I lose my job (I am assuming with no refund on the 10 year fee). It also states that if I move from one company to another company I need to get permission from BOI to continue the LTR.

 

Thanks for reading and helping.

 

 

 

 

Oh that’s a bugger mate.  Sorry to hear some cove ripped you off.  
 

Don’t know if this will get scrubbed by admin but email Kundun and Partners.   Tell them the Australian LTR sent you.  

KhunThanyaluck Thong-rompo
Partner

Kudun and Partners 

M: (66) 98 119 8418 | T: (66) 2838 1750 ext. 1997 |

 

[email protected]

 

Good luck matey. 

Edited October 19, 2023 by SHA 2 BKK

[TravelerEastWest]

"Can you/anyone recommend a good/trustworthy Thai accountant that I can speak to about my taxes?"

 

If you want expert advice two options

1 A large international CPA firm such as KPMG = best advice but high fees but may be worth it for results and peace of mind. Perhaps the one your firm uses may give you a good price?

 

Second choice is a smaller CPA firm with the partners having big firm experience before going on their own - more difficult to find...

 

No need for a law firm.

 

Large CPA firms have highly trained and experienced tax specialists

Edited October 19, 2023 by TravelerEastWest

[BritTim]

Just for information, some well connected Thai accountants can arrange an "alternative negotiated tax" for you. This is specifically allowed for in Thai law. Few foreigners use these, and the way they operate is murky. However, you might want to ask around if your potential tax exposure is high enough. These connected Thai accountants (based on a friend's experience) are not expensive to use.

[Tequila Sunrise]

9 hours ago, BritTim said:

Just for information, some well connected Thai accountants can arrange an "alternative negotiated tax" for you. This is specifically allowed for in Thai law. Few foreigners use these, and the way they operate is murky. However, you might want to ask around if your potential tax exposure is high enough. These connected Thai accountants (based on a friend's experience) are not expensive to use.

Thanks. Would you be able to give me a pointer in the right direction to any said "well connected" Thai accountant?

 

I am struggling in Thailand, been here 1 year and haven't made a single friend or connection. Been deceitfully scammed more than once and cannot speak the lingo so basically get ripped off every single day. The work here is much harder than I thought it would be, very long hours and I am the only foreigner in a team of 300 people. Most people in my company can speak great English but they choose not to and I'm starting to feel very alone and lost. My day is basically 8am-8pm work, grab some dinner and sleep. Repeat. Weekends I'm so tired I just stay around the condo and rest. I don't want to give up as I see many expats here have a great life.

 

I have been reading posts on this forum and people seem nice, informative and having a decent sense of humor. Hence I signed up for some friendly support.

 

My current annual income tax liability is millions of THB. I don't want to state the number as it's not polite but let's say more than 4 million and less than 6 million.

 

[Tequila Sunrise]

14 hours ago, SHA 2 BKK said:

Oh that’s a bugger mate.  Sorry to hear some cove ripped you off.  
 

Don’t know if this will get scrubbed by admin but email Kundun and Partners.   Tell them the Australian LTR sent you.  

KhunThanyaluck Thong-rompo
Partner

Kudun and Partners 

M: (66) 98 119 8418 | T: (66) 2838 1750 ext. 1997 |

 

[email protected]

 

Good luck matey. 

Thanks for this, mate. Very much appreciated.

[TravelerEastWest]

2 hours ago, Tequila Sunrise said:

Thanks. Would you be able to give me a pointer in the right direction to any said "well connected" Thai accountant?

 

I am struggling in Thailand, been here 1 year and haven't made a single friend or connection. Been deceitfully scammed more than once and cannot speak the lingo so basically get ripped off every single day. The work here is much harder than I thought it would be, very long hours and I am the only foreigner in a team of 300 people. Most people in my company can speak great English but they choose not to and I'm starting to feel very alone and lost. My day is basically 8am-8pm work, grab some dinner and sleep. Repeat. Weekends I'm so tired I just stay around the condo and rest. I don't want to give up as I see many expats here have a great life.

 

I have been reading posts on this forum and people seem nice, informative and having a decent sense of humor. Hence I signed up for some friendly support.

 

My current annual income tax liability is millions of THB. I don't want to state the number as it's not polite but let's say more than 4 million and less than 6 million.

 

Be very careful of murky tax actions as described - if it sounds too good to be true it probably is.

 

All good CPAs know how to legally negotiate your taxability following the law - nothing murky or secret about it...

 

Your company sounds large so they should be able to give you some advice to get started and a contact with a large CPA firm.

Edited October 20, 2023 by TravelerEastWest

[Tequila Sunrise]

30 minutes ago, TravelerEastWest said:

Be very careful of murky tax actions as described - if it sounds too good to be true it probably is.

 

All good CPAs know how to legally negotiate your taxability following the law - nothing murky or secret about it...

 

Your company sounds large so they should be able to give you some advice to get started and a contact with a large CPA firm.

I am an honest and abiding person, I accept to pay what is due by the laws of the land. However, in all countries there's tricks and ways for those who understand the rules of the game to optimize things. If it's too murky I would avoid it but if it's a legal trick then why not. Wasn't there a famous anecdote where Warren Buffett legally paid less tax than his secretary 🙂  

 

Good news on the LTR HSP visa application. I went down to BOI OSS office this morning in person. Bright and early, I was stood on the doorstep as they opened. They were really nice, professional and welcoming even though I had no appointment. They looked at my application on the system, spoke in Thai for a while then told me they will ensure my application is progressed. By the time I reached home and checked my email the status has changed to approved and I have made my appointment for next week to go for the stamping. After that I believe I just need to apply for the work permit. No explanation was given as to why the application got stuck but I didn't ask for an explanation and I guess it no longer matters. My tax should change to the 17% flat rate and I guess I should accept that and quit whilst I'm ahead. I think 17% is globally competitive so I have no complaints.

 

Many thanks to all who helped, I hope to become a useful and active member of this forum so I can share back my experiences. I think the LTV HSP is probably the most difficult application? As quite a lot of documentation is required but since I went through the process I might be able to help other who want to acquire this visa.

 

[SHA 2 BKK]

1 hour ago, Tequila Sunrise said:

I am an honest and abiding person, I accept to pay what is due by the laws of the land. However, in all countries there's tricks and ways for those who understand the rules of the game to optimize things. If it's too murky I would avoid it but if it's a legal trick then why not. Wasn't there a famous anecdote where Warren Buffett legally paid less tax than his secretary 🙂  

 

Good news on the LTR HSP visa application. I went down to BOI OSS office this morning in person. Bright and early, I was stood on the doorstep as they opened. They were really nice, professional and welcoming even though I had no appointment. They looked at my application on the system, spoke in Thai for a while then told me they will ensure my application is progressed. By the time I reached home and checked my email the status has changed to approved and I have made my appointment for next week to go for the stamping. After that I believe I just need to apply for the work permit. No explanation was given as to why the application got stuck but I didn't ask for an explanation and I guess it no longer matters. My tax should change to the 17% flat rate and I guess I should accept that and quit whilst I'm ahead. I think 17% is globally competitive so I have no complaints.

 

Many thanks to all who helped, I hope to become a useful and active member of this forum so I can share back my experiences. I think the LTV HSP is probably the most difficult application? As quite a lot of documentation is required but since I went through the process I might be able to help other who want to acquire this visa.

 

Good on ya cobber.  Welcome to the LTR Club.  Sorry it took so long for you matey but like you said look to the future not the past.    Well done 

[Tequila Sunrise]

19 minutes ago, SHA 2 BKK said:

Good on ya cobber.  Welcome to the LTR Club.  Sorry it took so long for you matey but like you said look to the future not the past.    Well done 

Thanks, mate.

 

Just to share my experience of rocking up at the OSS office this morning without an appointment. I couldn't have been treated more nicely. Great experience. Very friendly staff. No queuing. I just quoted my document number and they had a decent computer system and could find my records. They were able to somehow push the application over the line which I do not think would have happened if I hadn't have gone there face to face.

 

Only one slight thing to report, which in no way bothers me. The OSS told me they still have a mandatory mask wearing policy so I had to wear a mask from entering to leaving. Luckily I had a mask in my laptop bag and I have no issues wearing it if that is the rules.

 

 

[BritTim]

1 minute ago, Tequila Sunrise said:

Only one slight thing to report, which in no way bothers me. The OSS told me they still have a mandatory mask wearing policy so I had to wear a mask from entering to leaving. Luckily I had a mask in my laptop bag and I have no issues wearing it if that is the rules.

This is emotive subject. Personally, I find it preferable to possibly turning up to find the office closed for a week due to a Covid or flu outbreak among the staff. (as recently happened at the worst time to Thailand Elite) I actually am happy to wear a mask in all office settings.

[Tequila Sunrise]

58 minutes ago, BritTim said:

This is emotive subject. Personally, I find it preferable to possibly turning up to find the office closed for a week due to a Covid or flu outbreak among the staff. (as recently happened at the worst time to Thailand Elite) I actually am happy to wear a mask in all office settings.

🙂 Yes, I thought it might be an emotive topic. It seems Thailand in general is a mask loving society. There are people in my office who in the 1 year I have worked here I have never seen their face (no exaggeration). Their mask never comes off, even in meetings where they are speaking or presenting. I've even been at my gym, Virgin Active, and seen people running on the treadmills still wearing a mask. I just put it down to personal preference, let people wear the masks if they feel that's the best option for them. 

 

Regarding masks at the OSS office. No problem for me, I just follow the rules. It's a public place so there's some logic in requesting masks. I politely complied. In any case I didn't want to annoy them as I was there seeking their help 🙂

 

   

[TravelerEastWest]

11 hours ago, Tequila Sunrise said:

I am an honest and abiding person, I accept to pay what is due by the laws of the land. However, in all countries there's tricks and ways for those who understand the rules of the game to optimize things. If it's too murky I would avoid it but if it's a legal trick then why not. Wasn't there a famous anecdote where Warren Buffett legally paid less tax than his secretary 🙂  

The CPAs in the large firms are the best in the world - The only problem is that they are expensive. But from your current taxes that should not be a problem for you. Did you talk to your employers accounting department to get some help?

 

Warren Buffet has mostly dividends and capital gains so his tax rate is lower than his secretary who has a salary. But he probably pays way more in taxes.

Edited October 20, 2023 by TravelerEastWest
adding info

[Misty]

19 hours ago, Tequila Sunrise said:

Thanks. Would you be able to give me a pointer in the right direction to any said "well connected" Thai accountant?

 

I am struggling in Thailand, been here 1 year and haven't made a single friend or connection. Been deceitfully scammed more than once and cannot speak the lingo so basically get ripped off every single day. The work here is much harder than I thought it would be, very long hours and I am the only foreigner in a team of 300 people. Most people in my company can speak great English but they choose not to and I'm starting to feel very alone and lost. My day is basically 8am-8pm work, grab some dinner and sleep. Repeat. Weekends I'm so tired I just stay around the condo and rest. I don't want to give up as I see many expats here have a great life.

 

I have been reading posts on this forum and people seem nice, informative and having a decent sense of humor. Hence I signed up for some friendly support.

 

My current annual income tax liability is millions of THB. I don't want to state the number as it's not polite but let's say more than 4 million and less than 6 million.

 

Congratulations on getting your LTR visa. I'm switching over to the LTR HSP visa and have talked to my company's accountant regarding the difference in Thai tax filing going forward. To date I've filed PND90/91 each year. My accountant has explained in the future I'll use PND95 for the 17% tax rate.

 

Does your company currently file your Thai taxes?  The reason I ask is that the PND90/91 is a fairly simple form (at least as compared to my US taxes) and my Thai accountant fills it out and files it each year on my behalf. Going forward, PND95 should be similarly streamlined and easily handled by my accountant. I've also worked with KPMG for corporate tax issues and have no doubt they can handle filing PND95 as well.

[SHA 2 BKK]

2 hours ago, Misty said:

Congratulations on getting your LTR visa. I'm switching over to the LTR HSP visa and have talked to my company's accountant regarding the difference in Thai tax filing going forward. To date I've filed PND90/91 each year. My accountant has explained in the future I'll use PND95 for the 17% tax rate.

 

Does your company currently file your Thai taxes?  The reason I ask is that the PND90/91 is a fairly simple form (at least as compared to my US taxes) and my Thai accountant fills it out and files it each year on my behalf. Going forward, PND95 should be similarly streamlined and easily handled by my accountant. I've also worked with KPMG for corporate tax issues and have no doubt they can handle filing PND95 as well.

I wonder if Tax Exempt LTRs will have a file a PND??? on Foreign Remittances?   One would think not given it’s not taxable.   Anyway time (May) will tell. 

[xtof2]

Hello everyone,

I applied for LTR end of August, category Wealthy Pensioner, and have not gotten any answer so far.

I went to BOI Chamchuri Square around 3 weeks ago and the staff, after checking/calling to get news about my application, came back telling me I will receive good news in the next 48 hours. 

Nothing happened, I went back a week ago and they told me: All good for us but Government agencies are busy. Wait for 2 more weeks. 

I don't know anymore what to think.

Anyone know how long does it take currently to get a LTR in the WP category? 

Thanks!

Edited October 21, 2023 by xtof2
wrong spellling

[Lwood]

On 10/13/2023 at 10:01 AM, TravelerEastWest said:

Good thinking and what if I didn't send it but my mother gifted the tuition to my kids?

I have also been wondering if the Thai Gifts exemptions (explained on the Sherrings site among other places) could be a legimate tax planning tool to ensure that payments for goods and services in Thailand (school fees, cars etc) is excluded from "income" being remitted into Thailand for the Personal Income Tax calculation.  For example ... gift the money to a Thai spouse, descedent etc from outside Thailand (without touching your bank accounts in Thailand) who then pays the expense.   I appreciate this will only work if the person receiving the gift has a legimate reason for meeting the ultimate expense and you are happy for the asset being acquired (eg a car) to be in their name, but it does seem to create an opportunity to cover TH10m/20m per tax year (or even higher if some of the funds are for educational purposes).    Depending on individual circustamces it would also be necessary to check Gifts/Inheritance type rules in the overseas jurisdiction.

[TravelerEastWest]

22 minutes ago, Lwood said:

I have also been wondering if the Thai Gifts exemptions (explained on the Sherrings site among other places) could be a legimate tax planning tool to ensure that payments for goods and services in Thailand (school fees, cars etc) is excluded from "income" being remitted into Thailand for the Personal Income Tax calculation.  For example ... gift the money to a Thai spouse, descedent etc from outside Thailand (without touching your bank accounts in Thailand) who then pays the expense.   I appreciate this will only work if the person receiving the gift has a legimate reason for meeting the ultimate expense and you are happy for the asset being acquired (eg a car) to be in their name, but it does seem to create an opportunity to cover TH10m/20m per tax year (or even higher if some of the funds are for educational purposes).    Depending on individual circustamces it would also be necessary to check Gifts/Inheritance type rules in the overseas jurisdiction.

Yes, worth thinking about.

 

I can see a gift to in-laws being according to Thai culture and then a gift of a car also being OK. maybe a Toyota and not a BMW? Paying school fees should also be acceptable. So as long as the Thai is followed carefully all should be well. I would always consult a good Thai CPA who speaks English. I am amazed at how brave many are to do their own taxes here. Although probably most foreigners with a Thai income or business do use a Thai CPA and only retired people with low incomes go it on their own...?

[Tequila Sunrise]

On 10/21/2023 at 7:54 AM, SHA 2 BKK said:

I wonder if Tax Exempt LTRs will have a file a PND??? on Foreign Remittances?   One would think not given it’s not taxable.   Anyway time (May) will tell. 

This is extremely good info. Last year I did not file any tax return myself so I am assuming my company did it for me. I also assume I have missed out on any chance to optimize my taxes for last year and I do not want to make the same mistake this year. My internal HR and Finance team are a large centralized service serving many hundreds of employees hence no offense to them but you do not receive a very empathetic or personalized service. I think I would rather make my own arrangements with a third party advisor. I'm trying to get the process nailed then I can share back on this group any experiences.   

[Tequila Sunrise]

On 10/21/2023 at 11:45 AM, xtof2 said:

Hello everyone,

I applied for LTR end of August, category Wealthy Pensioner, and have not gotten any answer so far.

I went to BOI Chamchuri Square around 3 weeks ago and the staff, after checking/calling to get news about my application, came back telling me I will receive good news in the next 48 hours. 

Nothing happened, I went back a week ago and they told me: All good for us but Government agencies are busy. Wait for 2 more weeks. 

I don't know anymore what to think.

Anyone know how long does it take currently to get a LTR in the WP category? 

Thanks!

 

My experience on LTR HSP Visa online application: Applied 1st Jun 2023 and have my appointment for Visa collection tomorrow 25th October 2023. At no point did they revert my application requesting for more documents etc. I think it's just a case of sit and wait and maybe keep the pressure on by occasionally calling them to get a progress update. Take with a pinch of salt but I recently spoke to someone from Siam Legal over Line messaging who told me some applications are taking up to 8 months to complete.