9 hours ago, TravelerEastWest said:

They don't ask you to keep 100K in cash ad vitam eternam.

 

 

9 hours ago, TravelerEastWest said:

What about the 5 year followup paperwork?

Deposit replaces insurance which must be keep , that's my understanding.

 I would seek clarification from BOI if I had $100000 deposit instead of Insurance.

 

 

12 hours ago, TravelerEastWest said:

What about the 5 year followup paperwork?

It is not know yet, but it would appear that at the minimum they will ask again for proof that you held this deposit for at least one year and it might well turn out to be five years, i.e. since the start of your visa.

3 hours ago, K2938 said:

It is not know yet, but it would appear that at the minimum they will ask again for proof that you held this deposit for at least one year and it might well turn out to be five years, i.e. since the start of your visa.

 

This is speculation, as this is not what the requirement says, explicitly or implicitly. When in doubt, you have to fall back on what the text says, and here it's: "at the time of application", nothing more. As written, I see it as the applicant providing proof that he/she is solvent at the level that constitute "wealthy" for the purpose of the LTR. I may well be wrong, but I haven't asked the BOI because it's not my case (yet).

 

The requirement for medical insurance is "at least 10 months" at the time of application. Here again ,there is no explicit or implicit requirement to maintain coverage after that time. I agree though that for those using the 100K, it's a question to clarify with the BOI, but rules have changed before and they may change again within 5 years.

 

7 hours ago, Captain Monday said:

So, one bank in Thailand will sell a bond

There may be more - this was just my experience

 

7 hours ago, Captain Monday said:

They put you thru weeks of hardship 

Then not even provide a certificate 

 

I would not call that "hardship" ...  As I posted elsewhere, most of the time I spent trying to get the LTR visa, was sitting on my condo balcony, over looking the sea (with my laptop PC on a balcony table), while I sipped a drink and enjoyed the ambience.  Far from hardship -  and further, most of the time when I was NOT on my balcony was simply waiting.

 

I guess you and I have very different definitions of hardship. 

 

7 hours ago, Captain Monday said:

 

“Why I don’t apply for LTR” 

In my case having to lock into USD $500k worth of govt bonds. 

 

For the size of my portfolio, I would 100% agree re: USD $500K worth of Thai government bonds is not desirable.  And unlike myself, not everyone is into buying a condo in Thailand (where one can easily find incredibly nice condos for that price in Phuket - with fabulous views).  I FULLY understand that buying a condo is not something one may desire to do - ESPECIALLY if it is only being done to get a certain Visa.

 

Fortunately Thailand has MANY other Visa options than just the LTR.

 

Duplicate post, sorry

7 hours ago, Captain Monday said:

So, one bank in Thailand will sell a bond

They put you thru weeks of hardship 

Then not even provide a certificate 

 

“Why I don’t apply for LTR” 

In my case having to lock into USD $500k worth of govt bonds. 

 KBANK's bond desk (specialized department inside KBANK) has also sold LTR visa holders gov't bonds.  

51 minutes ago, oldcpu said:

For the size of my portfolio, I would 100% agree re: USD $500K worth of Thai government bonds is not desirable.  And unlike myself, not everyone is into buying a condo in Thailand (where one can easily find incredibly nice condos for that price in Phuket - with fabulous views).  I FULLY understand that buying a condo is not something one may desire to do - ESPECIALLY if it is only being done to get a certain Visa.

 

A good point - it is situational dependent.  For some folks this amount of Thai gov't bonds may not be an issue and a better option than buying a condo.

7 hours ago, K2938 said:

It is not know yet, but it would appear that at the minimum they will ask again for proof that you held this deposit for at least one year and it might well turn out to be five years, i.e. since the start of your visa.

Sounds right...

On 11/29/2023 at 9:04 PM, oldcpu said:

 would not call that "hardship" ...  As I posted elsewhere, most of the time I spent trying to get the LTR visa, was sitting on my condo balcony, over looking the sea (with my laptop PC on a balcony table), while I sipped a drink and enjoyed the ambience.  Far from hardship -  and further, most of the time when I was NOT on my balcony was simply waiting.

 

I guess you and I have very different definitions of hardship. 

 

 

 

Sorry for writing in superlatives, a pet peeve is the farang "nightmare", like meaning waiting 30 minutes at a bank.

 

So I am just as guilty the unfortunate comment on your  process to purchase a Thai government bonds. I have been buying 1-3 month CDs online all year with nifty rates from Schwab 5% plus, takes seconds.

Now I am moving to a premium deposit account with JP Morgan.  Just call broker in-and- same day no fees/commisions currently 4.4 per annum 

On 11/29/2023 at 9:04 PM, oldcpu said:

 I would 100% agree re: USD $500K worth of Thai government bonds is not desirable.  And unlike myself, not everyone is into buying a condo in Thailand (where one can easily find incredibly nice condos for that price in Phuket - with fabulous views).  I FULLY understand that buying a condo is not something one may desire to do - ESPECIALLY if it is only being done to get a certain Visa.

 

Fortunately Thailand has MANY other Visa options than just the LTR.

 

 

I am a fly-in fly out guy working overseas so the only category I qualify is wealthy global person so LTR is burdensome but I'm not impressed with Thai govt bond rates. Already own a condo. I would be interested in selling and buying another Thai condo with better amenities different location, but not the way things have been going the last few years. Probably stick with the OA

A question for those already holding the LTR visa if I may.  If I successfully obtain a WP LTR and arrive to stay in BKK area, how can I obtain a certificate of residence in order to get a driving licence from DLT?  My research tells me such a certificate can only be obtained from Immigration (my Embassy has ceased providing this service) and only after submitting a first 90-day report.  Under the LTR I envisage not needing to do the 365-day report for many years as I will be travelling in/out too regularly, too regularly to even manage a 90-day report.

 

Grateful for any insight.

 

Dodger

1 hour ago, DodgerRodger said:

A question for those already holding the LTR visa if I may.  If I successfully obtain a WP LTR and arrive to stay in BKK area, how can I obtain a certificate of residence in order to get a driving licence from DLT?  My research tells me such a certificate can only be obtained from Immigration (my Embassy has ceased providing this service) and only after submitting a first 90-day report.  Under the LTR I envisage not needing to do the 365-day report for many years as I will be travelling in/out too regularly, too regularly to even manage a 90-day report.

 

Grateful for any insight.

 

Dodger

Just email the BOI staff they respond quickly and accurately

Could someone please provide the link to the fillable /downloadable  TM 95 LTR Adress Reporting form.  Thanks.

38 minutes ago, OneZero said:

Could someone please provide the link to the fillable /downloadable  TM 95 LTR Adress Reporting form.  Thanks.

Doubtful there is a link to any immigration webpage with the TM95 as supposedly they don't want people mistakenly trying to use it to do 90 day reporting (requires TM7) or SMART visa people using it for their annual reporting which requires a TM91 form.

Don't know why BoI has posted the TM95 on the BOI LTR website yet.  BOI emailed me below blank form in August.

 

TM.95 blank.pdf

2 hours ago, DodgerRodger said:

A question for those already holding the LTR visa if I may.  If I successfully obtain a WP LTR and arrive to stay in BKK area, how can I obtain a certificate of residence in order to get a driving licence from DLT?

 

Got mine from Immigration Department at Chamchuri Square, that's where BOI issues your LTR visa, used at DLT for same reason.

29 minutes ago, Pib said:

 

TM.95 blank.pdf 179.09 kB · 1 download

Pib,

I downloaded the blank TM.95 form but am unable to fill /type information onto it. I don't know what I may be doing wrong.

Do you have any suggestions? 

TM 95 is on page 16 but it's not fillable: https://www.ratchakitcha.soc.go.th/DATA/PDF/2565/E/204/T_0024.PDF

14 minutes ago, OneZero said:

Pib,

I downloaded the blank TM.95 form but am unable to fill /type information onto it. I don't know what I may be doing wrong.

Do you have any suggestions? 

You gotta use an old fashion ink pin....it's not fillable with a computer.  As mentioned BoI provided.

"Those who obtain the LTR visa are exempted from paying personal income tax on their foreign assets or earnings.

 

Since the launch of the scheme in September 2022, over 3,000 LTRs have been granted to foreigners. In the weeks since the Sep 15 announcement of the new tax regulation, there has been a 14 per cent increase in LTR applications, according to sources."

 

https://www.businesstimes.com.sg/international/asean/thailands-tweak-tax-regulation-foreign-income-sparks-confusion-worries

I know it has been discussed in this thread, but I personally haven't been able to delete any docs from my "Rejected" status application. I can go into the file and delete the PDF files one by one, but everything comes back after changing screen (no option to finalize anything).

 

If any of you have done this, or got the BOI to do it, could you please share. Thanks in advance,

NW

9 hours ago, K2938 said:

"Those who obtain the LTR visa are exempted from paying personal income tax on their foreign assets or earnings.

 

Since the launch of the scheme in September 2022, over 3,000 LTRs have been granted to foreigners. In the weeks since the Sep 15 announcement of the new tax regulation, there has been a 14 per cent increase in LTR applications, according to sources."

 

https://www.businesstimes.com.sg/international/asean/thailands-tweak-tax-regulation-foreign-income-sparks-confusion-worries

 

I am cautiously optimistic about this but I am still going to keep a close eye on this topic next year as interpretations of the tax law become clearer. 

Hello folks,

 

I retired early this year so I have not completed one full year retirement yet.  If my full year of retirement pension will be in April 2024 (it meets the LTR annual pension requirement), would I be eligible to apply for the LTR WP then?  Should I wait until 2025 to apply so the income tax returns would be simpler then? 

 

I'm on an OA visa now and is valid until December 2024.  But I'd like to get the LTR visa next year to receive the tax exemptions if possible.

 

Thanks!

13 hours ago, Pib said:

You gotta use an old fashion ink pin....it's not fillable with a computer.  As mentioned BoI provided.

 

Just create your own fillable fields using Adobe Acrobat. Yeah, I know -- the cost is ridiculous, plus you can't buy it anymore -- you have to subscribe and pay annually. Fortunately, I've some older pirated versions that work just fine  -- except with some newer PDF fillable forms. Can you find such software on the street anymore?

2 hours ago, 1tent42 said:

I retired early this year so I have not completed one full year retirement yet.  If my full year of retirement pension will be in April 2024 (it meets the LTR annual pension requirement), would I be eligible to apply for the LTR WP then?  Should I wait until 2025 to apply so the income tax returns would be simpler then? 

 

You might be best to ask BoI that question.

 

In my case (and I think for others) BoI wanted to see an income tax return that proved what we claimed about our pension income.  I ended providing both my Canadian Income tax return (and the Canadian government revenue department letter acknowledging my income) and provided a government document stating my pension income.   I do not know if you will be asked for similar ... 

 

Possibly thou your 2024 income tax return (for year 2023) will have enough information on it to satisfy BoI.  Again, maybe its best to ask them.  You can send an email, or just phone them.  They have many people who can speak very good English.

 

2 hours ago, 1tent42 said:

I'm on an OA visa now and is valid until December 2024.  But I'd like to get the LTR visa next year to receive the tax exemptions if possible.

 

My suspicion, is the best time to reply is when you have government proof of your 2023 tax return submission (submitted in early 2024) - but again, check with BoI.

 

As you likely know, over a 10 year period, if you plan to leave Thailand multiple times/year, the LTR-WP visa is about the same cost as the OA visa (maybe a bit cheaper).   In my case, the LTR-WP visa mean it was easier for me to prove "Health Insurance" (on LTR) than it was on Type-OA - which I believe, if that is also true for you, might be a good reason to apply as soon as applicable.

 

 While getting a tax exemption (that will hopefully come with an LTR visa for money brought it to Thailand) is desirable, even without that, I believe there are good reasons for applying for an LTR when you will have the required paperwork.   ....  Again, I suspect tax records (if asked for) could be the documents that may drive your application schedule.

2 hours ago, MPoll said:

 

I am cautiously optimistic about this but I am still going to keep a close eye on this topic next year as interpretations of the tax law become clearer. 

I too am cautiously optimistic.   I shall bring in a large sum in January that will do us for 2024.  It’s of course income earned in the previous year.  
 

I figure Royal Decree 743 will still be standing at that time. 

 

Still unsure if we LTR Visa holders will have to do a tax return if no income earned in Thailand and funds remitted are from a previous year.  I’m not volunteering to get a Thai TIN.  
 

 

11 hours ago, K2938 said:

"Those who obtain the LTR visa are exempted from paying personal income tax on their foreign assets or earnings.

 

Since the launch of the scheme in September 2022, over 3,000 LTRs have been granted to foreigners. In the weeks since the Sep 15 announcement of the new tax regulation, there has been a 14 per cent increase in LTR applications, according to sources."

 

https://www.businesstimes.com.sg/international/asean/thailands-tweak-tax-regulation-foreign-income-sparks-confusion-worries

 

Interesting article - but I think at this stage, no one is quite sure how this will turn out.

 

I note that Business Times article states: 

 

 " What’s clear for now is that the tweaked tax ruling will go into effect on Jan 1, 2024, which means it applies to foreign income earned after Jan 1, 2023. "

 

Could the Business Times article be wrong there? I ask that because of a Thai revenue department document that came out in November-2023. More precisely, Thailand Revenue Department orders No.P.162/2023 (unofficial translation of it) states:

 

"The provisions of paragraph one shall not apply to assessable income arising before 1-January-2024".

 

So Business Times stating income earned after Jan 1, 2023, appears to me to possibly be in contradiction to the 1-January-2024 date noted in the November-2023 Thai revenue department clarification document Thailand Revenue Department orders No.P.162/2023 (for assessable income) .

 

But what is the actual case?  I don't think any of us know just yet.

5 hours ago, JimGant said:

 

Just create your own fillable fields using Adobe Acrobat. Yeah, I know -- the cost is ridiculous, plus you can't buy it anymore -- you have to subscribe and pay annually. Fortunately, I've some older pirated versions that work just fine  -- except with some newer PDF fillable forms. Can you find such software on the street anymore?

I was using Nitro PDF reader to fill pdf files, now I just use a pen since I stopped writing ransom notes.

Here as a start on a TM-95 as a MS Word document converted using Acrobat 9.0 Pro.  If someone wants to use it, get it to look more like the Acrobat PDF and Immigrations TM-47 form.   You can use Immigration's 90-day reports in document format if you need symbols.  Once you have it 'pretty' upload it here for other's use.

TM.95 blank.doc Blank TM47 Form for Alien to Notify of Staying Longer Than 90 Days.doc

On 11/30/2023 at 1:45 AM, K2938 said:

It is not know yet, but it would appear that at the minimum they will ask again for proof that you held this deposit for at least one year and it might well turn out to be five years, i.e. since the start of your visa.

 

There's some information buried way down on the LTR website under application process - vis issuance, and it (partly) clarifies the point raised:-

 

Visa period and staying permission

According to the annoucement of the Ministry of Interior Affairs, the applicant who passed the qualifications endorsement for LTR visa (and has had the visa issued in the period within 60 days from the date of qualifications endorsement letter issuance) will receive the 10-year visa stamp from the Immigration/Thai Embassy on the date of your LTR Visa issuance. However, the immigrantion will grant the permission to stay in Thailand with unlimited accesses to the Royal Thai Kingdom (multiple re-entry) for no more than 5 years. This means that you will get a 5-year visa stamp first. And, before the expiration of your first staying permission, your qualifications and criteria will be verified again (you will be required to submit documents and proof via the system). If your qualifications and criteria do not meet the requirement e.g. for Wealthy Global Citizens catagory, if the value of your investment in Thailand is less than USD 500,000 because you sold your property, or have canceled your health insurance and did not have a proof of the health insurance for the past years* etc., in such cases, the LTR visa shall be revoked.

* Remarks:

* You are required to report to LTR Visa unit if your purpose of staying in Thailand is different to the purpose you applied for the LTR visa i.e. For LTR : W and LTR- H as staying in Thailand with an incorrect type of visa might be against the law.

22 hours ago, oldcpu said:

 

You might be best to ask BoI that question.

 

In my case (and I think for others) BoI wanted to see an income tax return that proved what we claimed about our pension income.  I ended providing both my Canadian Income tax return (and the Canadian government revenue department letter acknowledging my income) and provided a government document stating my pension income.   I do not know if you will be asked for similar ... 

 

Possibly thou your 2024 income tax return (for year 2023) will have enough information on it to satisfy BoI.  Again, maybe its best to ask them.  You can send an email, or just phone them.  They have many people who can speak very good English.

 

 

My suspicion, is the best time to reply is when you have government proof of your 2023 tax return submission (submitted in early 2024) - but again, check with BoI.

 

As you likely know, over a 10 year period, if you plan to leave Thailand multiple times/year, the LTR-WP visa is about the same cost as the OA visa (maybe a bit cheaper).   In my case, the LTR-WP visa mean it was easier for me to prove "Health Insurance" (on LTR) than it was on Type-OA - which I believe, if that is also true for you, might be a good reason to apply as soon as applicable.

 

 While getting a tax exemption (that will hopefully come with an LTR visa for money brought it to Thailand) is desirable, even without that, I believe there are good reasons for applying for an LTR when you will have the required paperwork.   ....  Again, I suspect tax records (if asked for) could be the documents that may drive your application schedule.

 

Thanks for the reply oldcpu.

 

I will miss the income requirement by a few hundred dollars for 2023 tax year (I should have done a Roth rollover).  But after having read through the thread, I saw a post with a screenshot where the entry for the income can be specified by dates.  I'm assuming that the income can be set for any 12 month period not just for the tax year.  I have time since I just got recently issued an OA visa.  So I will wait until I have 12 months of pension income and after I have filed my income tax return next year to apply for the LTR WP.

3 hours ago, 1tent42 said:

 

Thanks for the reply oldcpu.

 

I will miss the income requirement by a few hundred dollars for 2023 tax year (I should have done a Roth rollover).  But after having read through the thread, I saw a post with a screenshot where the entry for the income can be specified by dates.  I'm assuming that the income can be set for any 12 month period not just for the tax year.  I have time since I just got recently issued an OA visa.  So I will wait until I have 12 months of pension income and after I have filed my income tax return next year to apply for the LTR WP.

When I applied (December 2022) I simply sent my last two pension payslips (I get paid fortnightly).  I didn't send my tax return.   No questions asked.  If you don't get pension payslips perhaps your pension fund can provide a letter.