LTR Visa - stoked!

[pedro01]

Just got my LTR visa - thought I'd give my experience on it.

 

I applied via an agency as I don't have much luck navigating this stuff myself.

 

But - unlike others reported - it really took very little time and documentation.

 

I had to supply

- passport

- Bank account showing dividend payment

- company resolutions for the dividend

 

And that's it.

 

The process was delayed by me going to Samui for a month - but we booked an appointment today. That was the first time I met the lawyers rep and the first trip to BOI.

 

There's a 'posh' LTR visa section where I waited about 20 mins - and I got the visa there and then.

 

The agency hasn't even billed me yet - which is cool of them.

 

I'm really stoked about this. It was waaaaay easier than my usual retirement visa.

 

Now no taxes and no 90 day reports. 

 

It's a wonderful day to be an expat!

[DrJack54]

3 minutes ago, pedro01 said:

The agency hasn't even billed me yet - which is cool of them.

Thanks for report.

Think some folk will look forward to update re cost.

[pedro01]

Cost was 50k for govt and 50k for the lawyer.

 

A good deal IMO

[oldcpu]

I believe the vast majority of us ( perhaps all ) who chose to go the LTR route and who were successful are happy with chosing this Visa.

 

The complaints that I have read re the LTR Visa are either from those who ( like myself initially) didn't appreciate its benefits relative to our finances, or complaints/criticisms from others who don't qualify for the LTR Visa, or whose finances are structured in a manner unacceptable to BoI, or who can't prove their appropriately structured finances to BoI's satisfaction, or from those who hate paperwork to initially get the Visa. 

 

For some even with the money, it may not be easy to get the LTR. But once obtained,  I find it much superior to the Type-O/OA Visa that I was on prior. 

 

The taxation aspect may prove to be a massive benefit,  although I believe "the jury is still out" there.

[eddyod]

Did you go from a Non-O retirement visa to the LTR?

[pedro01]

1 hour ago, eddyod said:

Did you go from a Non-O retirement visa to the LTR?

 

Yes - now on LTR 'P' for pensioner!

 

I'm only 54. Not sure I like 'pensioner'

[gravity101]

13 hours ago, pedro01 said:

 

Yes - now on LTR 'P' for pensioner!

 

I'm only 54. Not sure I like 'pensioner'

Haha I'm a 51y pensioner. Same 50k+50k BTW. It's not a LTR section, it's the BOI section - and I agree, so fancy, with free candy! Where's my walking stick.

[Presnock]

18 hours ago, pedro01 said:

Cost was 50k for govt and 50k for the lawyer.

 

A good deal IMO

double the cost of the visa using an agent!  seems excessive to me as I have been here over 20 years and never needed an agent for anything.  JUst saying, LTR is great congratulations!  Nice to do everything from within one's own home on one's computer/printer without needing anything from a different business.  Hope for all that the tax scheme doesn't affect one.

[pedro01]

4 minutes ago, gravity101 said:

Haha I'm a 51y pensioner. Same 50k+50k BTW. It's not a LTR section, it's the BOI section - and I agree, so fancy, with free candy! Where's my walking stick.

 

Wait - there was free candy?

 

Shèeeeeet.

 

And I dont go back for 5 years

[pedro01]

4 minutes ago, Presnock said:

double the cost of the visa using an agent!  seems excessive to me as I have been here over 20 years and never needed an agent for anything.  JUst saying, LTR is great congratulations!  Nice to do everything from within one's own home on one's computer/printer without needing anything from a different business.  Hope for all that the tax scheme doesn't affect one.

 

My times worth more than the 50k!

[PJ71]

19 hours ago, pedro01 said:

I'm really stoked about this. It was waaaaay easier than my usual retirement visa.

I find this unlikely, i signed one form two times, was in the bank and immigration office for a total of not more than 10 mins for my retirement visa ( using an agent ).

 

Pls explain how this was 'waaaaaay easier'?

[Tomio]

I've had my LTE for several months and I'm relatively pleased with. I did it while I was in Southern California paying the basic 50,000 baht and nothing more. The bad part of doing it while in the US is that you have to finalize it with the Thai Consulate. In my case it was the Thai Consulate Los Angeles and anyone who has had to deal with them in the last couple of years knows how difficult that can be. I've entered Thailand twice with my LTR, the most recent of which was 4 days ago. No, it didn't go smoothly as I had hoped. On both occasions it took four immigration officers to get things right. It was like they had never seen one before. Ok my first trip they eventually stamped my passport LTR with a depart not later than 5 years later. The second trip was worse. After four immigration officers couldn't figure it out, I showed them a printed copy of my LTR telling them 19 years. Yes,  I know that it must be renewed at five years. After more than ten minutes, I was finally on my way with the ever present smile on my face

 

[mark5335]

20 hours ago, pedro01 said:

Now no taxes. 

 

Even exempted from incurring the obligatory 10% dividend withholding tax taken at source by the investee-company? 

[Srikcir]

Went from non O-A after nine years to LTR in 2022 without an agent, processed visa at the immigration One Stop Service office at Chamchuri Square Building, Pathumwan, Bangkok (next to MRT Sam Yan station Exit 2).  BOI office on same floor and LTR had its own immigration window. BOI was very supportive and escorted me through my walk through in immigration.

Have now done one notification (first year reset because I left Thailand for a month in 2023); next notification in 2025. No online but in person at the LTR immigration window.

[ELBE1]

21 hours ago, pedro01 said:

Just got my LTR visa - thought I'd give my experience on it.

 

I applied via an agency as I don't have much luck navigating this stuff myself.

 

But - unlike others reported - it really took very little time and documentation.

 

I had to supply

- passport

- Bank account showing dividend payment

- company resolutions for the dividend

 

And that's it.

 

The process was delayed by me going to Samui for a month - but we booked an appointment today. That was the first time I met the lawyers rep and the first trip to BOI.

 

There's a 'posh' LTR visa section where I waited about 20 mins - and I got the visa there and then.

 

The agency hasn't even billed me yet - which is cool of them.

 

I'm really stoked about this. It was waaaaay easier than my usual retirement visa.

 

Now no taxes and no 90 day reports. 

 

It's a wonderful day to be an expat!

 

[ELBE1]

I just went thru the same process. Just after a month I got my approval last weekend. Only issue,  the approval of the application for my wife, as an dependent, did not come in at the same time, but should follow shortly and we then can pick up our visas. The documentation online process is very straight forward, no help needed, just upload the required documents.

[Wake Up1]

I got the LTR after doing one year extensions for several years at CW.
Worth the 50,000 baht  I spent for the LTR visa. 
 

Easy to submit paper work. LTR staff helpful, kind, educated and pleasant to deal with. 
 

No visiting CW. 1 year report rather than 90 day report. 
 

Can get a residence certificate the same day for 500 baht. 
 

No Thailand tax issues. 
 

Can get a work permit if you want one. 
 

No 800k needed in the Thai bank. 
 

Multiple re-entry permit included in the price. 
 

IMO much better value than one year extensions or elite visa. 
 

Basically no visa issues for 10 years except to show you still qualify after 5 years. 
 

[ELBE1]

1 hour ago, ELBE1 said:

I just went thru the same process. Just after a month I got my approval last weekend. Only issue,  the approval of the application for my wife, as an dependent, did not come in at the same time, but should follow shortly and we then can pick up our visas. The documentation online process is very straight forward, no help needed, just upload the required documents.

 

[ELBE1]

PS: can only recommend not to ask an agent or lawyer to this job bec they will charge you twice +- 50 k per person. One time at the beginning and 2nd time when resubmitted docs after 5 years.

[gravity101]

2 minutes ago, ELBE1 said:

PS: can only recommend not to ask an agent or lawyer to this job bec they will charge you twice +- 50 k per person. One time at the beginning and 2nd time when resubmitted docs after 5 years.

That's a guess.

[ChaiyaTH]

Wether it is easy or difficult, requires a little or a lot paperwork, entirely depends on the individual situation. If someone has a company already for 2 years or longer, and within that company enough is made to qualify, it is essentially done already.

However in reality most people do not have a setup with 1 singular qualifying income stream, that also runs 2 years that way already, knowing that is now the new easy Thai visa way.

 

In that last case an agent can be useful, to tweak around or allowing the option to 'forget a paper'.

Edited 5 hours ago by ChaiyaTH

[oldcpu]

2 minutes ago, ChaiyaTH said:

However in reality most people do not have a setup with 1 singular qualifying income stream, that also runs 2 years that way already, knowing that is not the new easy Thai visa way.

 

In that last case an agent can be useful, to tweak around or allowing the option to 'forget a paper'.

 

i don't understand the point about " 1 singular qualifying income stream ".

 

My 'pensioner' income comes from 3 separate sources to make the qualifying amount.  BUT what BoI were more interested was my last 2 Canadian tax returns which had the 'lump sump' of my non-Thai income as a singular (sum) amount.  I also provided the proof as the 3 separate pensioner income sources (German Pension, European organisation pension, and CanadianOld Age Security) and that was accepted.

 

The  only strange part (from my view) was BoI wanted to know why I was not including a Canadian pension as part of my income, given I was including Canadian Old Age Security as part of my income.  I then replied with a PDF letter from myself explaining that I intended to wait to age-70 before starting my Canadian Pension (as I obtained more money if I waited to age-70, ... and I was only age-69 at that time).  I also pointed out that with my German Pension + European Pension + Canadian Old Age security, I already exceeded the required LTR visa income threshold. ...

 

Thinking back, I suspect it was a quality check - as they were puzzled why a Canadian would claim Old Age Security as an income source, but not claim a Canadian Pension as an income source.

 

That was easy for me to sort with no agent required to sort.

 

But if an agent can make all of the process easier, then go for an agent. That is my view.  As we grow older, we can not take our money with us when we pass away (although we can 'will' our money to family).

[pedro01]

3 hours ago, PJ71 said:

I find this unlikely, i signed one form two times, was in the bank and immigration office for a total of not more than 10 mins for my retirement visa ( using an agent ).

 

Pls explain how this was 'waaaaaay easier'?

No queues for a start.

No visit to Chaengwattana.

No 90 day reports.

 

I mean - just look @ how busy it is in the LTR section...

[pedro01]

3 hours ago, gravity101 said:

Haha I'm a 51y pensioner. Same 50k+50k BTW. It's not a LTR section, it's the BOI section - and I agree, so fancy, with free candy! Where's my walking stick.

 

No.

 

Chamchurri square 18th floor is BOI - been there before - lotsa queues.

 

The office in the pic above - that's the LTR section.

[pedro01]

2 hours ago, mark5335 said:

Even exempted from incurring the obligatory 10% dividend withholding tax taken at source by the investee-company? 

 

Not all jurisdictions tax dividends.

 

Depends where the company uis registered.

[oldcpu]

1 minute ago, pedro01 said:

Chamchurri square 18th floor is BOI - been there before - lotsa queues.

 

The office in the pic above - that's the LTR section.

 

What was nice for the LTR visa pickup, was when it came to doing the 'immigration' part of the LTR visa, a BoI staff member walked me right to the front of the line, bypassing many in the crowded queue section of the immigration area.

 

So the immigration long queues are not an issue for those obtaining and with the LTR visa.

[pedro01]

43 minutes ago, oldcpu said:

 

What was nice for the LTR visa pickup, was when it came to doing the 'immigration' part of the LTR visa, a BoI staff member walked me right to the front of the line, bypassing many in the crowded queue section of the immigration area.

 

So the immigration long queues are not an issue for those obtaining and with the LTR visa.

 

Yup - I swear they walk you past the people queuing on purpose!

 

The whole thing is kinda elitist. I'm not rich - but you can see they are going for the "business class" feel/exclusivity.

 

I found that part a bit strange. A whole office for LTR? 

[khunjeff]

1 hour ago, pedro01 said:

The office in the pic above - that's the LTR section.

 

14 minutes ago, pedro01 said:

I found that part a bit strange. A whole office for LTR? 

 

There is no "whole office for LTR".

 

The photo shows BoI's (clumsily named) "One Start One Stop Investment Center", which is where LTR applicants go to get their processing done. That office does a lot more than just LTRs, and the couple of times I went there it appeared that LTRs make up only a small part of the workload.

[pedro01]

1 minute ago, khunjeff said:

 

 

There is no "whole office for LTR".

 

The photo shows BoI's (clumsily named) "One Start One Stop Investment Center", which is where LTR applicants go to get their processing done. That office does a lot more than just LTRs, and the couple of times I went there it appeared that LTRs make up only a small part of the workload.

 

Aaah - ok - I am now educated!