LTR Visa is Now available for Long Term Residency

[mudcat]

My pink ID and tax ID use the same number.  RD and Amphiur are on the same office floor but the ID was issued two tears prior to the tax ID and I am sure I presented the ID to the RD ladies.

[White Rabbit]

Just to double-check - I have an LTR retiree visa - grateful for that. Now, if I travel outside Thailand at least once within a year’s time I never have to do the one year reporting? Is that correct?
Actually I’m probably traveling abroad 3-4 times a year. And I’m also registered online with immigration on the same address as my yellow book states. Thanks for all feedback. 

[Pib]

16 minutes ago, White Rabbit said:

Just to double-check - I have an LTR retiree visa - grateful for that. Now, if I travel outside Thailand at least once within a year’s time I never have to do the one year reporting? Is that correct?
Actually I’m probably traveling abroad 3-4 times a year. And I’m also registered online with immigration on the same address as my yellow book states. Thanks for all feedback. 

Correct.  The 1 year reporting resets to zero upon leavng Thailand and doesn't start ticking again until you reenter Thailand.  Continue travelling like you are now and a 1 year address report will never be required.

[TravelerEastWest]

I was at the BOI office and after I got my digital visa i asked about forms for teh annual report

 

1) Form 95 can be filed at any immigration office

 

2) 90 day reports can still be filed - not a problem

 

He wasn't sure about using the mail.

 

 

[John207]

Hi there, the other LTR threads seems to have been abandoned hence me posting my question in here. Hope people don't mind even though it's not relevant to the OP. I've recently flown from Suvarnabhumi to Phnom Penh with a cheap airliner and I've shown the LTR visa to the lady at the desk asking for a fast track voucher but she said couldn't help me with that. Does anybody know how to get through the fast track security with an economy ticket and without a voucher? Thanks

[SHA 2 BKK]

4 hours ago, John207 said:

Hi there, the other LTR threads seems to have been abandoned hence me posting my question in here. Hope people don't mind even though it's not relevant to the OP. I've recently flown from Suvarnabhumi to Phnom Penh with a cheap airliner and I've shown the LTR visa to the lady at the desk asking for a fast track voucher but she said couldn't help me with that. Does anybody know how to get through the fast track security with an economy ticket and without a voucher? Thanks

Yes for arrivals  just go to the “Fast Track” section which is after the main immigration area.  Next to where the Chinese used to get their Visa On Arrival.  
 

There is a sign from memory that is in blue and white that says Fast Track.  Show your LTR Visa to the guard in front and you are in.   No need for any voucher.   
 

There is the odd guard who still doesn’t know what and LTR Visa is but you can point to it on the blue and white letter board.   Thailand Elite also use this point. 
 

For departures look for Fast Track again after you check in.  Don’t go up the escalators.  They are on the check in floor (I think there are two).  Show the guards your LTR - again no need for a voucher.  
 

Hope this helps and safe travels. 

[John207]

Thanks so much SHA 2 BKK, just what I needed to know!

[TravelerEastWest]

Does the LTR visa speed up domestic flights?

[SHA 2 BKK]

16 hours ago, TravelerEastWest said:

Does the LTR visa speed up domestic flights?

I don’t think so.  When I fly domestic is usually use my Thai Drivers Licence.  But I’ve never seen a special queue for LTR Visa. 

[TravelerEastWest]

For international flights when traveling with a Thai family member any special ways to stay together and move quickly?

[SHA 2 BKK]

26 minutes ago, TravelerEastWest said:

For international flights when traveling with a Thai family member any special ways to stay together and move quickly?

Just tell the guard at the front of the Fast Track line they are your family.  I’ve never had problem with us all going in together.  

[TravelerEastWest]

5 hours ago, SHA 2 BKK said:

Just tell the guard at the front of the Fast Track line they are your family.  I’ve never had problem with us all going in together.  

Thank you

[Berti]

Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?

 

- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?

 

- 80,000.- before or after tax?

 

- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?

 

- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?

[SHA 2 BKK]

2 hours ago, Berti said:

Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?

 

- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?

 

- 80,000.- before or after tax?

 

- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?

 

- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?

Hope this helps. I only showed one Australian Tax Return.  $US80k before tax.  My pension money is deposited outside Thailand in Australia.  This checked 5 years after the initial issuance of the Visa so that you can get another 5 years.  
 

I would imagine a yearly payment of $US 80k is ok. 
 

The team at the LTR BOI are great and I would suggest you email them or if in BKK pay them at visit at Chamchuri Square. 

[Pib]

2 hours ago, Berti said:

Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?

 

- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?

 

- 80,000.- before or after tax?

 

- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?

 

- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?

 

After you qualify for the 10 year visa there are no annual checks although when you have to reapply at the 5 year point (mid term) to get the 2nd 5 year Permitted to Stay stamp you will basically need to meet the same income requirements that you did when initially qualifying for the LTR visa. 

 

Now it is still unknown at this time if at the mid-term term if BOI/Immigration will require you to prove you met income/insurance requirements for the past 5 years (i.e, your 1st 5 year Permitted to Stay period) or if they will just look at one or two years like when initially qualifying.    I'm guessing it going to be the latter unless they feel a person is trying to game the system.

 

The 80K requirement is "gross" pay (before taxes, deductions, etc).

 

None of the 80K needs to be sent/maintained in Thailand...you can leave it all in another country if desired....or split it between Thailand and another country (ies).    You just need to prove you have the funds somewhere on planet Earth.  

 

If your pension/annuity is only distributed on an annual basis that one each annual payment should be fine.....monthly, quarterly, semi-annually, or annually....the key is it just has to occur each and ever year and be able to prove it.   No skipping a year where you didn't have at least 80K in qualifying income.  You will need to prove the payment is coming from some pension/annuity paying entity (like a statement/benefit letter/etc) versus you or a family member/friend sending you money trying to game the system.     And of course they probably be asking for a copy of your tax return where that pension/annuity might be reported "if" it's a reportable/taxable pension/annuity...tax returns usually provide a secondary form of proof regarding income.

 

Unless something has recently changed the BoI responds/answers questions pretty quick when you send them a Contact inquiry/question....like within a few days or less.  Much, much faster response time than the first six months of the LTR program in late 2022 when they were overwhelmed with applications/questions.    https://ltr.boi.go.th/index.html#contact

 

Good luck.

 

 

 

 

 

[K2938]

5 hours ago, Pib said:

After you qualify for the 10 year visa there are no annual checks although when you have to reapply at the 5 year point (mid term) to get the 2nd 5 year Permitted to Stay stamp you will basically need to meet the same income requirements that you did when initially qualifying for the LTR visa. 

 

Now it is still unknown at this time if at the mid-term term if BOI/Immigration will require you to prove you met income/insurance requirements for the past 5 years (i.e, your 1st 5 year Permitted to Stay period) or if they will just look at one or two years like when initially qualifying.    I'm guessing it going to be the latter unless they feel a person is trying to game the system.

 

The 80K requirement is "gross" pay (before taxes, deductions, etc).

 

None of the 80K needs to be sent/maintained in Thailand...you can leave it all in another country if desired....or split it between Thailand and another country (ies).    You just need to prove you have the funds somewhere on planet Earth.  

 

If your pension/annuity is only distributed on an annual basis that one each annual payment should be fine.....monthly, quarterly, semi-annually, or annually....the key is it just has to occur each and ever year and be able to prove it.   No skipping a year where you didn't have at least 80K in qualifying income.  You will need to prove the payment is coming from some pension/annuity paying entity (like a statement/benefit letter/etc) versus you or a family member/friend sending you money trying to game the system.     And of course they probably be asking for a copy of your tax return where that pension/annuity might be reported "if" it's a reportable/taxable pension/annuity...tax returns usually provide a secondary form of proof regarding income.

 

Unless something has recently changed the BoI responds/answers questions pretty quick when you send them a Contact inquiry/question....like within a few days or less.  Much, much faster response time than the first six months of the LTR program in late 2022 when they were overwhelmed with applications/questions.    https://ltr.boi.go.th/index.html#contact

 

Good luck.

Maybe worthwhile to add that if your 80k USD or a significant part of this comes from non-recurring things like capital gains, one-time distributions or payments from your own company, then things might get difficult.

[Dan SG]

On 2/1/2024 at 2:52 PM, oldcpu said:

As part of my application for the LTR-WP, I ended up having to show an investment of $250K US$ equivalent in Condo.  Since both my name and my wife's name is on my Thai condo deed, I could only use 1/2 of my condo purchase price toward my $250K US$ equivalent (for an investment in Thailand).  So I ended up buying 2-million THB in Thai government bonds to put me over the $250K US$ investment (with some margin).

 

As part of the Thai bond application, in the online application system being used by Bangkok Bank, they had to enter a tax-ID, else the application for the bond would fail.

Hi, I need to do exactly this too - I see that you are in Phuket (I'm bkk based) but was there a special unit in Bangkok bank you spoke to....I can't seem to get hold of anyone that has any familiarity with how to purchase these bonds for foreigners.....I have a thai tax id which it seems could help the process.

[Berti]

10 hours ago, K2938 said:

Maybe worthwhile to add that if your 80k USD or a significant part of this comes from non-recurring things like capital gains, one-time distributions or payments from your own company, then things might get difficult.

 

This is new information for me. They clearly explain that is must be "unearned income such as pension, rental, capital gain, dividend, etc.".

"SUCH AS" this sounds like there is no difference which of these you get.

 

I am above 50, don't have an "official" pension yet, but dividends above 80,000.- from a company where I own shares. Looks like I meet the requirements but still don't qualify?

[MPoll]

Regarding the new tax rules and the LTR visa

 

There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.  

[Dan SG]

3 minutes ago, MPoll said:

Regarding the new tax rules and the LTR visa

 

There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.  

Yes this is what I've managed to establish too.  If you qualify this is a massive perk in my opinion.  Yes the threshold is high but potentially this means you can put your money into offshore accounts / bonds accrue gross and it not being taxed anywhere! Of course if your money is tied up in things like property you're still going to be taxed where the property is.....but personally I think the opportunity to receive gross is much better than earning net rental income.....especially if your in UK property like I am / was......absolute headache these days, all the power to the tenant....and leaches in the system - agents, tradesman, the council....you name it!

[SHA 2 BKK]

46 minutes ago, MPoll said:

Regarding the new tax rules and the LTR visa

 

There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.  

Great update and much appreciated. 

[MPoll]

I do pay US taxes on my pension income in the US but my tax rate is way below the 35% I would be subject to in Thailand. This unexpected windfall associated with my LTR is much appreciated.

[Pib]

13 hours ago, K2938 said:

Maybe worthwhile to add that if your 80k USD or a significant part of this comes from non-recurring things like capital gains, one-time distributions or payments from your own company, then things might get difficult.

 

3 hours ago, Berti said:

 

This is new information for me. They clearly explain that is must be "unearned income such as pension, rental, capital gain, dividend, etc.".

"SUCH AS" this sounds like there is no difference which of these you get.

 

I am above 50, don't have an "official" pension yet, but dividends above 80,000.- from a company where I own shares. Looks like I meet the requirements but still don't qualify?

 

As Berti said, Cap Gains qualifies as pension/fixed income under the LTR Pensioner category because BOI considers it "unearned" income vs "earned" income/salary from employment.    Unearned income is basically any income you receive that is not from employment.   Yes, a pension is income from "past" employment but it's not income/salary from "current" employment....still working for a living, etc. 

 

Additionally it's common for folks with large investments in mutual funds to have those periodic dividends and/or cap gains  distributed/paid out annually vs reinvested in the fund.   BOI considers this unearned income since it not coming from employment/salary.   

 

So, if a person's $80K of personal/unearned income comes for "cap gains" then they meet the income requirement.    But as I mentioned before since Cap Gains can vary greatly from year-to-year depending on how the stock market varies a person needs to ensure he can show $80K "each and every year; not just say every other year, an average over a couple of years, etc."

 

 

 

[Yumthai]

35 minutes ago, Pib said:

As Berti said, Cap Gains qualifies as pension/fixed income under the LTR Pensioner category because BOI considers it "unearned" income vs "earned" income/salary from employment.    Unearned income is basically any income you receive that is not from employment.   Yes, a pension is income from "past" employment but it's not income/salary from "current" employment....still working for a living, etc. 

 

Additionally it's common for folks with large investments in mutual funds to have those periodic dividends and/or cap gains  distributed/paid out annually vs reinvested in the fund.   BOI considers this unearned income since it not coming from employment/salary.   

 

So, if a person's $80K of personal/unearned income comes for "cap gains" then they meet the income requirement.    But as I mentioned before since Cap Gains can vary greatly from year-to-year depending on how the stock market varies a person needs to ensure he can show $80K "each and every year; not just say every other year, an average over a couple of years, etc."

 

If someone can show one or several stock sales totaling an amount of at least $80K in a calendar year during the past 2 years, will this individual meet the BOI LTR Wealthy Pensioners Visa income requirements?

 

[Pib]

3 minutes ago, Yumthai said:

 

If someone can show one or several stock sales totaling an amount of at least $80K in a calendar year during the past 2 years, will this individual meet the BOI LTR Wealthy Pensioners Visa income requirements?

 

Probably not because a sale can be different from a cap gain.  A cap gain is a profit from an investment; a stock sale may have been at a loss; therefore, no cap gain to show--just a loss.   BOI would probably need to see the balance of your pot of money "after" you made those stock sales to see if that pot is still larger enough cover a 10 years worth of $80K/year sells since an LTR visa is  10 year visa.

 

And a stock sale or two may have completely drained your pot of investment money...Living high-on-the-hog from some stock sales for a year or two but those sales may have completely drained your pot of money and you no longer can show $80K/year in personal/unearned income.

 

 

[Yumthai]

24 minutes ago, Pib said:

Probably not because a sale can be different from a cap gain.  A cap gain is a profit from an investment; a stock sale may have been at a loss; therefore, no cap gain to show--just a loss.   BOI would probably need to see the balance of your pot of money "after" you made those stock sales to see if that pot is still larger enough cover a 10 years worth of $80K/year sells since an LTR visa is  10 year visa.

 

And a stock sale or two may have completely drained your pot of investment money...Living high-on-the-hog from some stock sales for a year or two but those sales may have completely drained your pot of money and you no longer can show $80K/year in personal/unearned income.

OK, so what does BOI mean when they mention capital gain as unearned income?

Could you make few examples of an asset capital gain that will be accepted by BOI?

[jayboy]

The LTR visa is looking like a smart decision by those who qualify - particularly from a tax perspective.

 

I would be interested to know how many people have been able to avail themselves (ie actually succeeded in obtaining) the "wealthy pensioner" category which requires assured income of at least US$ 80,000 p.a. From the BOI perspective all the other LTR categories make sound sense in terms of fulfilling the strategy of attracting expats who can add value.But the 'wealthy pensioner" category doesn't seem to me to make much sense or even belong in the programme at all given the comparatively low financial bar * to entry.I think those who have qualified in this category should congratulate themselves.My hunch is that prospective new entrants in the future might well find this route blocked.

 

* Please don't respond by claiming $ 80,000 is already a very high sum.It's not for a "wealthy pensioner" but debate on this subject - at least on this forum - is pointless.

[MPoll]

21 minutes ago, jayboy said:

The LTR visa is looking like a smart decision by those who qualify - particularly from a tax perspective.

 

I would be interested to know how many people have been able to avail themselves (ie actually succeeded in obtaining) the "wealthy pensioner" category which requires assured income of at least US$ 80,000 p.a. From the BOI perspective all the other LTR categories make sound sense in terms of fulfilling the strategy of attracting expats who can add value.But the 'wealthy pensioner" category doesn't seem to me to make much sense or even belong in the programme at all given the comparatively low financial bar * to entry.I think those who have qualified in this category should congratulate themselves.My hunch is that prospective new entrants in the future might well find this route blocked.

 

* Please don't respond by claiming $ 80,000 is already a very high sum.It's not for a "wealthy pensioner" but debate on this subject - at least on this forum - is pointless.

This thread has 92 pages of questions and stories of people obtaining a version of the LTR. I switched from an OA visa to a pensioner LTR which appears to be fairly common within the pensioner category. The LTR has been available for 18 months. There has not exactly been a tsunami of people applying for it so either the yearly income is a barrier or people don’t know about it. What else is there to say?

[jayboy]

2 minutes ago, MPoll said:

What else is there to say?

 

Congratulations on making an astute decision.

[Pib]

43 minutes ago, Yumthai said:

OK, so what does BOI mean when they mention capital gain as unearned income?

Could you make few examples of an asset capital gain that will be accepted by BOI?

 

Cap Gain means "profit" from an investment.  It's also unearned income since it not coming from employment/salary/wages.

 

A cap gain accepted by BoI would be some document that proves it was a capital gain like in the U.S. when a person makes a capital gain from a stock investment it would show-up tax related forms like a Tax Form 1099DIV which would show dividends and cap gains from an investment.  Or Cap Gains would be shown on a person's annual tax filing or maybe a U.S. Form 1099B.  Each country has its own forms/docs regarding cap gains/dividends/interest/etc.   And this website https://www.investopedia.com/terms/c/capitalgain.asp talks what is considered a cap gain.

 

For a LTR Pensioner visa a person needs to prove they receive at least $80K/year from pension/unearned income/retirement fund/etc., ....that is, a fairly stable income that ensures $80K/year each and every like from a pension which will last the person's lifetime....from an annuity payment that will last at least 10 years....from a large investment big enough to provide $80K/year over 10 years, etc.   

 

And regarding the "....from a large investment big enough to provide $80K/year over 10 years..."  you'll most likely need to already being receiving distributions/payments from that large investment for a pensioner visa vs just letting that BIG pot of money grow bigger & bigger because you can live on a much smaller amount that $80K/year.   Qualifying for an LTR Pensioner visa can definitely be more challenging if your annual income is based predominately on Cap Gains versus being predominately based on a pension/annuity/fixed income which is paying out a pretty stable amount for years to come/your lifetime.  

 

Earned income like from salary/wages is not considered for a LTR pensioner visa since the person could lose his job tomorrow and go from an annual income of $80K to something much less.  

 

To get an answer straight from the horse's mouth regarding your particular type of Cap Gain income use the Contact form on the LTR BOI website....they answer pretty quick. https://ltr.boi.go.th/#contact