Thailand’s new 10 year Long-term Resident Visa (LTR Visa) is now available

[khunPer]

Look forward to see how many that applies for these new four types of visa.

[Gknrd]

7 hours ago, wwest5829 said:

Retired over a decade ago to a lower cost country since I could not afford a working middle class retirement in my own country. Bring in over a million Thai baht a year and support my Thai Wife and Stepdaughter. A win - win if those incapable of thinking long term stability don't try to grab at only "high worth" individuals. Millions of westerners in the same boat, plus the "sweet spot" of serving medical services (especially appealing to the Americans as they reject a national healthcare program).

If I were you I would start saving now. 800K for retirement won't last much longer.

 

[wwest5829]

10 minutes ago, Gknrd said:

If I were you I would start saving now. 800K for retirement won't last much longer.

 

As I use the monthly income method the money parked in a Thai bank does not currently matter to me. So, 1st step ... change to an "O" for reason of Retirement Visa. if needed, 2nd - change to an "O" Visa for Reason of Marriage. Lower monthly income or money in the bank. I know only about myself, I do not see myself as a prisoner here or in any one country so ... as long as there are alternatives I can be a happy camper.

[CANSIAM]

5 hours ago, redwood1 said:

WRONG.......The O-X visa is virtually not used at all....Ask around....I bet its used by well under 1% of expats....

I know a fella from Sweden with the O-X,  every time he arrives at Swampy he's got more more than one IO scratching their heads trying to decide what duration of stay stamp to give him...... thats how often they see the OX.........  He's usually creating quite a line up behind him......

Edited September 2, 2022 by CANSIAM

[CANSIAM]

8 hours ago, vandeventer said:

Most here are retired and not working? What country pays 80,000 usd  a year unless they are talking about 80,000 baht.

Like I said, the LTR is available for the few.........

[ThailandRyan]

4 hours ago, Caldera said:

My prediction is that it will be more successful than the doomed Smart Visa, but not by as much as they hope.

 

That's because I think it will mostly cannibalize other visas rather than attract large numbers of fresh expats to Thailand. I can easily see why some people who qualify for the new LTR will switch to it from their current visa or extension, due to its unique benefits. For anyone who wasn't attracted by the existing options, on the other hand, I think those additional benefits won't be enough.

I believe your right as far as canabalizing other Visas.  I am jumping from the O-A Visa extension I have used for the past 3 years. It frees up the 800k I have tied up in a fixed deposit account which can be reinvested elsewhere.

[Gottfrid]

9 hours ago, vandeventer said:

No it was a joke, like 80,000 USD a year.

What is a joke about 80k usd a year? That´s what you need to get that kind of visa.

 

[farangnomore]

12 hours ago, Walker88 said:

Plenty of ways to get in and stay in Thailand already. Certainly getting to live here is easier than in most countries. Now the govt is adding one more way....but not doing away with any of the already-existing methods.

 

So what's to complain? Pick the one that works for you if you are so inclined to live here, and let others do the same.

 

None of these methods is onerous. I'm actually surprised some of the methods are as easy as they are. Most countries, if they allow expat residents, expect a much greater economic contribution than what Thailand expects. 800K baht in a bank? $80K/year income?

 

Those are the two extremes, and neither is even close to what many countries demand, including for Thais who might seek to retire to the US or EU or Australia (heaven knows why).

 

I often hear or read comments from people who beef about migrants coming to their country, yet these same people, many of whom make scant economic contribution to the Thai economy ( a million baht in a year isn't a rounding error in the expenses of a senior politician or those making the rules here), seem to think it's unfair if the Thai govt makes it more difficult for these expats to remain in Thailand.

 

Keep quiet and enjoy the ease with which Thailand makes residence possible.

"Most countries, if they allow expat residents, expect a much greater economic contribution than what Thailand expects. 800K baht in a bank? $80K/year income"  What country requires $80k/year for retirement?  France requires income of $1700 a month for retirement visa  (https://aginggreatly.com/retire-in-france-or-spain/), or 1/4 of what Thailand requires. 

 

Thais don't go to US/Australia to retire.  I doubt anyone goes to these places to retire.  Thais go there to work, make money, hence higher financial requirements. 

 

Politicians do not care about some Isaan family receiving money from a farang.  They want big spenders using their businesses and filling up their pockets. 

 

Thai government has  been more than explicit about their desire to replace backpackers, expats with quality tourists.  Why is it so hard to understand it.  Like they say, love it of leave it...

[webfact]

UPDATE:

 

Long Term Resident Visa – Do You Qualify?
By Editor

 

 

Thailand officially unveiled a new visa program called “Long-Term Resident (LTR)” on 1 September 2022, with a range of tax and non-tax benefits to persuade new foreign residents, technologies, and talents to stay or work in Thailand longer, contributing to domestic spending and investment while supporting economic growth.

 

The LTR visa is offered to four categories of foreigners:

 

– Wealthy global citizens: high economic status individuals holding at lease USD 1 million in assets and investment in Thailand;

 

– Wealthy pensioners: retirees aged 50 years and older who have an annual pension or stable income;

 

– Work-from-Thailand professionals: remote workers working for well-established companies overseas;

 

– Highly skilled professionals: professionals or experts in targeted industries working for business entities, higher education institutes, research centers, or specialized training institutes in Thailand or for Thai government agencies.

 

Spouses and children under 20 years old will also qualify for the same visa. (Maximum four dependents for each LTR visa holder.)

 

Privileges will be offered to LTR visa holders, such as 10-year renewable visa, fast-track service at international airports in Thailand, one-year report to the Immigration Bureau (from 90 days), multiple re-entry permit, permission to work in Thailand, 17% personal tax rate for highly skilled professionals, and other benefits.

 

Those interested in living in Thailand under this new LTR visa, are encouraged to visit this website http://ltr.boi.go.th 

 

Source: https://royalcoastreview.com/2022/09/long-term-resident-visa-do-you-qualify/

 

-- © Copyright Royal Coast Review 2022-09-03

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[Gknrd]

18 hours ago, Neeranam said:

Thailand is one of the  easiest countries to retire to, regarding visas. Just <deleted> 800k in the bank once a year, or pay an agent 14,000 baht a year for an illegal visa. 

I, as a Thai, woukd have to invest 17 million baht to get a similar visa in the USA 

Yet, many complain about immigration. 

 

In the US you can own land , own a business and work legally. 

In Thailand you get what you pay for.. absolutely nothing!

Thailand offers nothing! For anyone with a very good skill set ??? America or Thailand... hahaha

Go figure why all want to move to the US.

 

 

Edited September 2, 2022 by Gknrd

[araiwaja]

Mai pen raiiii 

Edited September 2, 2022 by araiwaja

[Puccini]

15 hours ago, ThailandRyan said:

Again it is a visa for those that can qualify, and if I were to travel in and out once a year using my current retirement extension sion that's 2900 thb a year plus misc. Fees.  In the end this 10 year visa allows multiple ins and outs and runs almost the same if you were to get a ME reentry permit yearly, minus having to keep 800k on the bank.

I have so far seen no indication that holders of the LTR staus will be exempt from the requirement to get a re-entry permit when travelling abroad.

[ThailandRyan]

38 minutes ago, Gknrd said:

In the US you can own land , own a business and work legally. 

In Thailand you get what you pay for.. absolutely nothing!

Thailand offers nothing! For anyone with a very good skill set ??? America or Thailand... hahaha

Go figure why all want to move to the US.

 

 

From the post above yours

 

Privileges will be offered to LTR visa holders, such as 10-year renewable visa, fast-track service at international airports in Thailand, one-year report to the Immigration Bureau (from 90 days), multiple re-entry permit, permission to work in Thailand,

[ikke1959]

80.000 USD a year that is a lot of money in Thailand. How many Thais earn so much money? And what benefits are there compared with other visas and costs? The Government should investigate first before making all kind visas which are hardly being used.

[JimTripper]

I'm not a fan of these income based visa's at all. Imo it should be based on bank balance they can check every year. Income in retirement is a bit out dated.

 

A lot of people withdraw from savings and investments only what they need and nobody I know in Thailand needs to take out 80k.

Edited September 2, 2022 by JimTripper

[ThailandRyan]

2 hours ago, Puccini said:

I have so far seen no indication that holders of the LTR staus will be exempt from the requirement to get a re-entry permit when travelling abroad.

 

2 hours ago, ThailandRyan said:

From the post above yours

 

Privileges will be offered to LTR visa holders, such as 10-year renewable visa, fast-track service at international airports in Thailand, one-year report to the Immigration Bureau (from 90 days), multiple re-entry permit, permission to work in Thailand,

Sorry I quoted the wrong post @Puccini. There is a ME reentry permit with this LTR Visa.

[ThailandRyan]

13 minutes ago, JimTripper said:

I'm not a fan of these income based visa's at all. Imo it should be based on bank balance they can check every year. Income in retirement is a bit out dated.

A pension is a guaranteed amount, well at least mine is as a defined benefit lifetime pension which will never decrease and only increase with COLA increases.

 

My investments are totally separate from this pension which in itself is more than 80k USD a year. I guess I was lucky in my choice of a career.

Edited September 2, 2022 by ThailandRyan

[Damrongsak]

4 minutes ago, JimTripper said:

I'm not a fan of these income based visa's at all. Imo it should be based on bank balance they can check every year. Income in retirement is a bit out dated.

 

A lot of people withdraw from only what they need and nobody I know in Thailand needs to take out 80k.

Yep.  2/3 of my money is savings and investments.  I get a bit from US Social Security, which I could live on in Thailand, being a cheap SOB.  But I reserve the $80K/year for when I'm in a rest home.  Getting care in the USA when one is old isn't cheap.

[redwood1]

The new visas seem to be getting worse and worse....

 

The O-X visa I think pretty much everyone agrees is a terrible visa....

 

Then came the Smart visas which were more user unfriendly than the O-X...

 

The new 10 year looks even worse to me than the previous 2 visa dogs.....

 

Heck I will be surprised if even 100 people get this new 10 year turd..

 

 

[JimTripper]

12 minutes ago, Damrongsak said:

Yep.  2/3 of my money is savings and investments.  I get a bit from US Social Security, which I could live on in Thailand, being a cheap SOB.  But I reserve the $80K/year for when I'm in a rest home.  Getting care in the USA when one is old isn't cheap.

You don't have to go back to the USA. There are resort type homes up North in Cm/Cr for about half that.

[Gknrd]

5 hours ago, ThailandRyan said:

A pension is a guaranteed amount, well at least mine is as a defined benefit lifetime pension which will never decrease and only increase with COLA increases.

 

My investments are totally separate from this pension which in itself is more than 80k USD a year. I guess I was lucky in my choice of a career.

Sounds like a perfect fit for you.  But, if in retirement most do not have 80K / yr income .  This 10 year visa is designed for working people that are under 50 IMO.  The majority of retiree's here will use the 800K or agents. I am in that boat if I want to stay. I am under 80K. But, oddly enough I have funds.. So, anyone wanting to go to a developing country needs to do their research IMHO.  With demographics in play and the state of the political climate. Just me I guess, but Thailand would be the last place I would want to work, or retire with say 15-20 years left in retirement.

Edited September 3, 2022 by Gknrd

[Alex80]

It seems to me an overlap with the smart visa program, only with even more requisite.

Getting a smart visa was already a real hassle and it took months of paperwork

[Gknrd]

6 hours ago, ikke1959 said:

80.000 USD a year that is a lot of money in Thailand. How many Thais earn so much money? And what benefits are there compared with other visas and costs? The Government should investigate first before making all kind visas which are hardly being used.

There is one guy here that will use it. But, I doubt this will amount too much. If at 80K / yr and wanting to work here then ok. But it is not for retiree's in general IMO. Actually if at 80K / yr from abroad and under 50 you would probably want to go to a developing country that has much better incentives and long term outlook.

[Gold Star]

50,000 baht for 10 years, is only 5000 per year.

No more 90 day reports, no more reentry permits.

80,000 proof of income threshold is one time upon application if I read it right.

No more hassle at immigration every year to renew, only renew at 5 years. Otherwise it wouldn't be a long term visa, would it.

 

For those with the income, and the cash in the bank here anyway, it is appealing.

Keeping 100,000US in the bank avoids the health insurance requirement as well.

 

For myself, it makes good sense, I check all the boxes already, and I am very interested.

[kingstonkid]

9 hours ago, Gknrd said:

In the US you can own land , own a business and work legally. 

In Thailand you get what you pay for.. absolutely nothing!

Thailand offers nothing! For anyone with a very good skill set ??? America or Thailand... hahaha

Go figure why all want to move to the US.

 

 

That is an interesting question 

 

Why would anyone choose here over the U.S.?

 

lower crime

lower cost of living

friendlier people

Thailand guards it's borders

Medical treatment is better here

less stress

easygoing people versus u.S.

green new deal

actually, I think lower problems with drugs

 

Yep sign me up I want to live in the land of Brandon.

 

oops had that chance and turned it down in 2008

 

passed and came here.

 

 

[ikke1959]

7 hours ago, ThailandRyan said:

A pension is a guaranteed amount, well at least mine is as a defined benefit lifetime pension

That is maybe not a problem. The problem can be the THB that is getting more and more expensive and lower your income as we have seen in the last years

[DrJoy]

On 9/2/2022 at 8:28 AM, tomazbodner said:

Farang rich. Farang love Thailand. Farang must pay.

No can pay

[OnTheLash]

Would somebody that works overseas (oil and gas), over 50 years old, currently on a retirement visa and earns 120k usd a year qualify?

 

Any thoughts? 

[richard_smith237]

26 minutes ago, OnTheLash said:

Would somebody that works overseas (oil and gas), over 50 years old, currently on a retirement visa and earns 120k usd a year qualify?

 

Any thoughts? 

I’m not sure why you’d want to...  it would cost you 747,500 Baht per year in Tax !!! 

 

You’re far better off leaving 800k baht seasoned in a Thai account. 

 

The only advantages I can nee are: The removal of 90 day reports (irrelevant if you are in and out regularly) and fast track through the airport.

 

The permission to work in Thailand part is extremely vague... its not as if you can just start a business and work, I’m sure there would be ‘work permit hoops’ to jump through. 

 

11 hours ago, webfact said:

Privileges will be offered to LTR visa holders, such as 10-year renewable visa, fast-track service at international airports in Thailand, one-year report to the Immigration Bureau (from 90 days), multiple re-entry permit, permission to work in Thailand, 17% personal tax rate for highly skilled professionals, and other benefits.

[Stefanix]

11 hours ago, Gknrd said:

In the US you can own land , own a business and work legally. 

In Thailand you get what you pay for.. absolutely nothing!

Thailand offers nothing! For anyone with a very good skill set ??? America or Thailand... hahaha

Go figure why all want to move to the US.

 

 

I don't know anyone wanting to move to the US. Maybe besides the economical conditions people are interested in the cultural environment they live in? US? hahaha