Thailand's 5-20 Year Visa Now a Bit Cheaper

[hkblademan]

4 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

You don’t pay any tax if you hold a LTR visa. 

[Mad Mustang]

Well I got one 3 years. If you fly in and out a lot it’s well worth it just for the fast track immigration alone. Never taken longer than 15 mins to get from the plane to the limo. It makes life here much easier.

[mokwit]

10 minutes ago, hkblademan said:

You don’t pay any tax if you hold a LTR visa. 

Here, let me fix that:

 

Currently, you don’t pay any tax if you hold a LTR visa.

[Wrwest]

4 hours ago, Zack61 said:

Won’t influence my decision one iota. 

Certainly not until the proposed taxation policy is settled for stays longer than 180 days..

[renaissanc]

4 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

Cedel, you've said what the government and Immigration can't understand. I don't know if that's because of their intelligence, traditional thinking, or stupidity / a lack of common sense and wisdom. They seem to be saying ... "Look! We're making our visas better so you'll come and stay longer. And to encourage you to stay longer, while you're here, we'll tax, even double-tax, your income everywhere in the world. Isn't this wonderful for you?" ... Mabe they think that foreigners are stupid.

[renaissanc]

19 minutes ago, hkblademan said:

You don’t pay any tax if you hold a LTR visa. 

I don't know about the tax laws, but I find it hard to believe that the government would let foreigners with 5-20-year visas get away with not paying tax. There has been no mention before of any categories of foreigners being able to avoid paying tax on worldwide income. If that's the case I'll change my marriage visa to a long-term visa in order to save millions on tax.

[Wrwest]

3 hours ago, spidermike007 said:

They just don't get it. Wealthy people have many options. Many nations are offering far more favorable terms, as they actually have smart people working on visa policy. Thailand appeals mostly to those of us who have financial limitations. The goons seem to think it is the other way around. Good luck with the 6 applicants. 

Agreed. After a trouble free 13 years here, the newest threat to my working middle class retirement is this idea that I can/will accept double taxation on world wide income. If it fades, quite happy remains married and supporting my Thai Wife and Stepdaughter. I came to Thailand as I can sustain my million baht a year spending here, and cannot do the same in my own country. If Thailand wishes for me to spend those dollars in another country, well their choice, I am not a prisoner here. A lot more folks from many countries in the same condition... that is the mass group to appeal to for stable, sustainable national income brought into Thailand.

[kuzmabruk]

5 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

Small brain.  This visa is not only for people who want to retire here and marry or date a Thai farmer’s daughter or son, as the case may be.  Many people like the freedom to reside in a number of countries.   For example many people apply for long term visas to Canada. But who wants to be a Canadian tax resident and pay 58% tax?  Think outside your little (minute not the time the size minute) sphere of knowledge.   

[Dr B]

What nobody seems to have commented upon is this weird arrangement here where two government departments are vying for issuing visas, here the Ministry of Foreign Affairs (LTV and DTV) and the Ministry of the Interior through the TAT (TPV). This is what happens with coalition Governments, with snouts fighting at the trough, and no-one talking to the Ministry of Finance who are licking their lips over taxes. Don't worry though, the Prime Minister will bnang  afew heads together and get it all sorted out at the next Cabinet meeting, if she has finsihed playing with her Barbie dolls.

[crazykopite]

Won’t make me jump aboard now if they allowed we foreigners to own up to 1 rai of land outright that would attract a lot of interest. Let’s be honest most of the wealthy Thais own land and property around the world but they refuse to allow it in their country 

[mikeymike100]

3 hours ago, Presnock said:

They are probably looking at the foreigners from the US - you know the really smart ones, the MAGA folks believing everything Trump says so yeah those foreigners are stupid in the minds of the Thai.

That is the dumbest comment i have seen...period!

[crazykopite]

6 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

A very good read after 20 years of contributing to the Thai economy I have now placed my beach front villa on the market and am looking to relocate to a more welcoming Asian Country if I can’t find a buyer I have two options a long term lease or lock it up for 6 months of the year . The UK  government tax my pensions I’m not going to allow any other government to double tax my income !

[digger70]

8 hours ago, webfact said:

The TPV offers various visa options ranging from 5 to 20 years, each featuring unique perks and bonuses, with current prices spanning from 900,000 baht to over 2 million baht 

 

Totally Over the top ,

Look at the normal extensions x THB. 2,000 works out THB 40,000 for 20 years ,slightly different than the THB 900K up to 2 Mill. 

One can't tell me that the So called Perks cost that much. (if one can call them perks)

Just a big Laugh.

 

[mrbojangles]

7 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

 

Absolutely concur. As well as myself, I know of 4 other foreigners who have decided not to renew our cars because we don't want to run the risk of having to pay tax on the money we bring in to buy a new car. They really haven't thought this through

[Presnock]

44 minutes ago, mikeymike100 said:

That is the dumbest comment i have seen...period!

you must not read much of this forum then!

[spidermike007]

The fact is Thailand could be doing a dozen different things to make itself more attractive to affluent tourists, expats, and il foreign investment. But, all the things it could do, to make itself a better version of it's current self, would require sacrifice and vision. Not something this govt. is capable of. Nor the 9 year army govt.

 

Major tax breaks, drastic lowering of luxury and wine taxes, allowing ownership of land and homes by foreigners, relaxation of inane visa laws, ridding the administration of xenophobic ministers, beginning a program of hiring based on merit, improving traffic safety, paying attention to the air and the environment. The list goes on and on and on. Will any of this happen? One can hope. But, it is unlikely as this administration is one of the least progressive on planet earth. They love projections, prognosticactions, declarations and platitudes. But when it comes to the nuts and bolts, and practical improvements, they are absolutely lost in space.

 

[Presnock]

3 hours ago, hkblademan said:

You don’t pay any tax if you hold a LTR visa. 

depends on which of the 4 categories of the LTR as at least one allows one to work in Thailand but tax is lower than normal for that one.  I guess you are referring to the remitted income is not taxed yet for the wealthy pensioners.  Until all the dust settles on this latest one who knows .... but at least no 90-day checks for 10 years.

[Presnock]

23 minutes ago, digger70 said:

Totally Over the top ,

Look at the normal extensions x THB. 2,000 works out THB 40,000 for 20 years ,slightly different than the THB 900K up to 2 Mill. 

One can't tell me that the So called Perks cost that much. (if one can call them perks)

Just a big Laugh.

 

I think one of the perks is unlimited golf at certain course...if one is an avid golfer then it might be cheaper to have one of these elite viisa...not sure of the other perks...

[spidermike007]

2 hours ago, kuzmabruk said:

Small brain.  This visa is not only for people who want to retire here and marry or date a Thai farmer’s daughter or son, as the case may be.  Many people like the freedom to reside in a number of countries.   For example many people apply for long term visas to Canada. But who wants to be a Canadian tax resident and pay 58% tax?  Think outside your little (minute not the time the size minute) sphere of knowledge.   

Thank you so much, I know it has been a huge burden for me, to labor with a small brain for all these years, but you work with what you have. 

 

 

[Presnock]

3 hours ago, renaissanc said:

I don't know about the tax laws, but I find it hard to believe that the government would let foreigners with 5-20-year visas get away with not paying tax. There has been no mention before of any categories of foreigners being able to avoid paying tax on worldwide income. If that's the case I'll change my marriage visa to a long-term visa in order to save millions on tax.

Yeah saw the number at 30K holding one of these - said mostly Chinese and don't think they would want them to be tax free but TIT.

[Rolo89]

53 minutes ago, crazykopite said:

looking to relocate to a more welcoming Asian Country

What countries are you thinking about?

 

For ones that don't tax worldwide income I thought it was just Philippines, Malaysia and Singapore? 

[Maitdjai]

3 hours ago, Rolo89 said:

I paid this fee and never completed it as the DTV was coming. The airport fast track would kinda be nice but not worth $450 a month! They could double or triple the cost of this and it would be worth it if it got tax breaks. 

 

The security checking for this took weeks and loads of paperwork, DTV took 10 mins to apply for 48 hours to be approved.

For the real wealthy, the Tax issue is not a real issue. But it's an issue for the middle-class wealthy and all below.

The segments getting milked always and everywhere the most.

Tripling the visa fee by offering a tax exemption, would be nothing else than a "deposit" in advance. The rule and the way it's executed can change anytime.

Most of the wealthy people are smart. That's why not so many fall for this rip-off. Age is one valuable factor. But also there are other options.

 

As you said, the privilege of the fast track and a Limo Service, the discounts at some fancy shops and golf courses aren't worth

450 USD a month. 

 

But it might attract "wannabe" elites, or people who don't care too much about their money, and the math, which tells differently.

Not too many there of those. Within two decades. Fiddling with ridiculous details on a more or less dead subject will not revive it.

 

 

 

[bdenner]

So they want me to bring 900K to 2Mill Baht into the country for an LTV = Dreamers!. I expect they will want me to pay income tax on that as well. TW has already had her last new car and Baht of gold while this BS persists.

[digger70]

1 hour ago, crazykopite said:

A very good read after 20 years of contributing to the Thai economy I have now placed my beach front villa on the market and am looking to relocate to a more welcoming Asian Country if I can’t find a buyer I have two options a long term lease or lock it up for 6 months of the year . The UK  government tax my pensions I’m not going to allow any other government to double tax my income !

Why in Satans name would the greedy sods want us  Expats to pay tax on money that's Not earned in Thailand they can do what they like with the Thais that Earn an Living in a Foreign country.

Just Greed. we as foreigners don't use money from Thailand we Spend money that's been earned  in our home country or receive from our Pension.

As for the double tax agreement that only gives people more more Pain ,

Have to get an TFN and than trying to claim your tax back, Do it yourself that causing a Headache or Pay to get this done by tax professionals.

 

[FriscoKid]

I find it concerning how there are often two sets of rules for visas in most countries. If you’re just the average person then you have to accept all the limitations of the visa restrictions that are designed to prevent people from using a visa to actually immigrate illegally. Visas also serve a purpose to address security concerns about criminals and terrorists entering and staying long term, to prevent people from working illegally, and for diplomatic and political reasons. But suddenly, if you have around $30,000-$50,000, then you can just buy your way in and all of those issues are overlooked? In a way it’s kind of like saying that the rules don’t matter or even apply as long as you have money. Of course, this is something that we know and see happening in various ways all over the world, but, in this case, with these elite long term visa, it just seems a bit too obvious and blatant.

 

[mokwit]

1 hour ago, Maitdjai said:

But it might attract "wannabe" elites

It seems to be attracting Chinese criminals.

[Ben Zioner]

5 hours ago, cnx101 said:

Wouldn’t want it if it’s free

Had it been free, I would have taken it. LTR cost me 50000, but now I am a bit less worried about Income tax.

 

Actually, a few years back, it was reasonably (500k, 1M and 2M) priced until they became obscenely greedy, thanks to the Chinamen refugees.

[wensiensheng]

I wonder if being taxed on worldwide income might put people off applying for a long term visa?

 

just a thought.

[geisha]

9 hours ago, spidermike007 said:

They just don't get it. Wealthy people have many options. Many nations are offering far more favorable terms, as they actually have smart people working on visa policy. Thailand appeals mostly to those of us who have financial limitations. The goons seem to think it is the other way around. Good luck with the 6 applicants. 

The wealthy do not hang out in Thailand .  The choice is large for everything they need, the Caribbean islands, Bermuda, British Virgin Islands. Caymans, UAE, Hong Kong, Belize. These islands have to offer what Thailand doesn’t, mega beautiful homes, yachting facilities ( lots of 100 meter yachts floating around ) health care and quality entertainment / restaurants/ designer worthy shopping. 
The people who have an extra 30 odd thousand $ handy for an elite visa in Thailand profit from nothing of the above. Probably handy for those still working coming in and out, or  frequent visitors..

My niece worked on the yacht of a very wealthy man from Hong Kong.  I visited the villa he had in Kamala Phuket, top design and inside waterfalls etc. He sold it after a few stays , didn’t like Thailand. 

[Eudaimonia]

11 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

There is little incentive, really.

 

Countries such as Italy and Greece offer non-doms a cheap lump-sum tax regime where one pays only 100,000 euros in income tax per year regardless of earnings. Elsewhere, it's even more affordable. Thailand's tax rates are not competitive.