LTR Visa - stoked!

[ELBE1]

That's reality...beforehand I checked the pricing with lawyers and also the accredited BOI Companies, eg Tigers. 50 k for main applicant and 40 k respect 20 k for dependant and this 2 times.

[pedro01]

12 minutes ago, ELBE1 said:

That's reality...beforehand I checked the pricing with lawyers and also the accredited BOI Companies, eg Tigers. 50 k for main applicant and 40 k respect 20 k for dependant and this 2 times.

 

I didn't need for my wife - I bought locally... 😉

[PJ71]

21 hours ago, pedro01 said:

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...

But one assumes this is BKK, right?

 

Handy if you live there but not if you don't.

[bkk6060]

Oh really?  What about the insurance requirement?  Bank accounts and tax returns?  

[pedro01]

1 hour ago, bkk6060 said:

Oh really?  What about the insurance requirement?  Bank accounts and tax returns?  

 

Yeah, really.

 

Insurance - showed them my coverage.

Bank account - only had to show a transfer of dividend for $100k

Tax returns - wasn't asked.

[Letseng]

On 12/4/2024 at 6:57 AM, 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'?

If it takes you 10 mins for retirement ext. then you have never been to Changwattana. 

You'd envy the guy with the LTR visa.

[pedro01]

24 minutes ago, Letseng said:

If it takes you 10 mins for retirement ext. then you have never been to Changwattana. 

You'd envy the guy with the LTR visa.

 

I miss the shoe queue 

[eddyod]

I have considered getting a LTR visa, but after my job finishes, I'd have to switch back to a retirement visa, so there doesn't seem to be much point.

[PJ71]

4 hours ago, Letseng said:

If it takes you 10 mins for retirement ext. then you have never been to Changwattana. 

You'd envy the guy with the LTR visa.

Correct, i have never been to CW - no thanks.

[bbi1]

On 12/3/2024 at 11:08 AM, pedro01 said:

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

 

 

Now no taxes and no 90 day reports. 

Holy cow Batman, all you need to get a LTR is Passport, paying yourself a dividend payment into your bank account and a company resolution for the dividend? This is even easier than applying for a DTV. Surprised that this forum hasn't got millions of people applying for the LTR rather than a DTV, the the LTR visa has been around for a long time already. Does the LTR really mean you don't have to pay any taxes in Thailand? Seems way better than the DTV then.

 

I could just show my Aussie company paying me personally a dividend to my personal Aussie bank account and so the company resolution of the dividend and boom, LTR would've been granted. Seems even easier than the DTV route.

[stat]

On 12/4/2024 at 12:47 AM, pedro01 said:

 

My times worth more than the 50k!

This a concept 90% of the folks do not understand 😉 Congrats and thanks for the info!

[DrJack54]

48 minutes ago, bbi1 said:

I could just show my Aussie company paying me personally a dividend to my personal Aussie bank account and so the company resolution of the dividend and boom, LTR would've been granted. Seems even easier than the DTV route.

Ripper. Your Oz company can show 80k USD congratulations.

 

The OP chose to use agent.

Minimal charge 50k.

So do you have a LTV? 

[oldcpu]

1 hour ago, bbi1 said:

Does the LTR really mean you don't have to pay any taxes in Thailand?

 

 

The LTR means you are exempt from paying tax on foreign sourced income brought into Thailand.

 

The LTR does NOT exempt one from paying tax on assessable Thai income.  Even if on an LTR visa, if one makes sufficient assessable income from a Thailand source (ie assessable income from inside Thailand) then one has to pay Thai tax on that income.

.

[pedro01]

14 hours ago, bbi1 said:

Holy cow Batman, all you need to get a LTR is Passport, paying yourself a dividend payment into your bank account and a company resolution for the dividend? This is even easier than applying for a DTV. Surprised that this forum hasn't got millions of people applying for the LTR rather than a DTV, the the LTR visa has been around for a long time already. Does the LTR really mean you don't have to pay any taxes in Thailand? Seems way better than the DTV then.

 

I could just show my Aussie company paying me personally a dividend to my personal Aussie bank account and so the company resolution of the dividend and boom, LTR would've been granted. Seems even easier than the DTV route.

 

Yeah - that's all I had to do!

[Presnock]

On 12/4/2024 at 6:47 AM, pedro01 said:

 

My times worth more than the 50k!

WEll, if it was so easy then I fail to understand double the cost.  I spent very little time at home doing all the paperwork and forwarding to the BOI, then a short train ride to the BOI, maybe an hour total there for review of my acct, payment and cancellation of retirement visa.  Much easier than doing the yearly long stay extension.  But, you never mentioned anything about hospitalization insurance which is part of the requirements too.  The main thing about all this, is that if you are happy then welcome to this club as I think all of us with the LTR are pleased.

[StraightTalk]

4 minutes ago, Presnock said:

WEll, if it was so easy then I fail to understand double the cost.

You likely fail to understand his personal preferences - though, frankly, why should you? It’s none of your business..

[1tent42]

Congrats on the LTR!

 

Though, even as a wealthy pensioner, 50K is a lot for one hour of work for me. That’s about the time it took to get my documents together and submit them online. They did  asked for my tax returns an hour later so maybe 1 hour and 5 minutes total. 
 

 

[oldcpu]

On 12/5/2024 at 8:36 PM, bbi1 said:

Holy cow Batman, all you need to get a LTR is Passport, paying yourself a dividend payment into your bank account and a company resolution for the dividend?

 

 

Interesting approach!

 

Thinking of other possibilities ...  I wonder if one thou already has a LOT of money already and it is just a matter of 'restructuring' ,... is it possible then to buy (?) a pension annuity that would provided and prove the monthly income to meet BoI requirements?

 

I know nothing about pension annuities (as I already have adequate pensions), but I wonder if that is also a viable approach (obviously ONLY for those with the money).

[G_Money]

I normally use an agent my retirement OA extension.  I still had to supply bank letters, pension letters and residential lease.

 

I hated dealing with the Jomtien cluster Fuc- and while I have health insurance it’s not a Thai company so for some reason local immigration doesn’t honor it 

 

This year I opted for the LTR-P.  No need for an agent because I can upload all documents including health insurance on their website portal once you register.

 

All benefits and requirements are posted there.  For some reason they accept my health insurance letter for LTR but not for OA extensions in Jomtien.  TIT.

 

From reading previous posts it appears using an agent for LTR excludes some of the paperwork requirements.  Not sure if the 80k USD is one from the accepted sources.

Uploading online one must provide proof.

 

My application was approved in slightly over two weeks.  Booked appointment online through the portal.  Booked BKK hotel and transport.

 

Arrive at BOI office and finalize some signatures.

 

BOI staff takes my passport next door to immigration.

 

Returns and informs me immigration will not accept my “damaged” passport    Sad face follows.  Damage was a small hole in the rear from removing immigrations 90 day reports they love stapling in.

 

Approval is good for 60 days so head back to Pattaya and jump through the hoop the next day and mail my new passport application to the embassy in BKK via DHL.

Should arrive in about a week then book another appointment and back to BKK.

 

Check your passport for damage.

 

An agent may or may not of taken care of this problem.

 

 

 

 

 

 

[DrJack54]

7 hours ago, G_Money said:

Returns and informs me immigration will not accept my “damaged” passport    Sad face follows.  Damage was a small hole in the rear from removing immigrations 90 day reports they love stapling in

That's why (for others) never allow anyone to staple anything into your pp..

Also it's not permitted. 

[Phillip9]

7 hours ago, G_Money said:

Approval is good for 60 days so head back to Pattaya and jump through the hoop the next day and mail my new passport application to the embassy in BKK via DHL.

Are you sure that approval is still good when you have a new passport number?  I have a feeling you are going to show up with your new passport and they will tell you it isn't.  Just another hoop to make you jump through to try and force you to use an agent.

[khunjeff]

6 hours ago, Phillip9 said:

Just another hoop to make you jump through to try and force you to use an agent.

 

Unlike some immigration offices, BoI doesn't try to force applicants to use agents.

[Phillip9]

6 minutes ago, khunjeff said:

 

Unlike some immigration offices, BoI doesn't try to force applicants to use agents.

I'm curious then why they would be so picky about a tiny hole from a staple in a passport.  I can't see any other reason.  I am sure it is BOI that is getting most of the 50K  agent's fee the OP mentioned.

[oldcpu]

49 minutes ago, Phillip9 said:

I'm curious then why they would be so picky about a tiny hole from a staple in a passport.  I can't see any other reason.  I am sure it is BOI that is getting most of the 50K  agent's fee the OP mentioned.

 

I too am puzzled about that.  I wonder if this was also one of the last few unfilled pages in the passport?

[Phillip9]

5 minutes ago, oldcpu said:

  I wonder if this was also one of the last few unfilled pages in the passport?

 

That is the special endorsements page, so they couldn't have actually used that page for the visa anyway.  They were definitely just pushing him to use an agent.

[oldcpu]

52 minutes ago, Phillip9 said:

 

That is the special endorsements page, so they couldn't have actually used that page for the visa anyway.  They were definitely just pushing him to use an agent.

 

 I see your point - but I wonder if perhaps they were also just trying to reduce or defer their future work? 

 

If say only 2 or 3 blank pages left, and given this is a 10-year visa, they could see that within a year or less, the LTR visa person's passport would be full, and need to be renewed, and the individual might have to come back to their office to transfer the LTR visa over to a new passport.

 

Perhaps (my speculation) is they wish to put that time in the future (when needing to transfer the LTR visa) off in the future as long as possible, for reasons only known to them.

 

Clearly only BoI know the reason - and I suspect they are not telling.

[G_Money]

8 hours ago, DrJack54 said:

That's why (for others) never allow anyone to staple anything into your pp..

Also it's not permitted. 

I won’t allow it in the future.

[G_Money]

8 hours ago, Phillip9 said:

Are you sure that approval is still good when you have a new passport number?  I have a feeling you are going to show up with your new passport and they will tell you it isn't.  Just another hoop to make you jump through to try and force you to use an agent.

Yes.  They advised me the new passport will work.

 

Just update the passport number and expiration date.

[pedro01]

1 hour ago, Phillip9 said:

 

That is the special endorsements page, so they couldn't have actually used that page for the visa anyway.  They were definitely just pushing him to use an agent.

 

Nothing to do with the agent.

 

I had a hole in mine - the BOI girl pointed out it might impact approval.

 

She came back with it approved - and we agreed it'd be better to get a new passport in BKK when I get back from vacation in Jan.  That way moving the visa would be easy.

[Phillip9]

7 minutes ago, pedro01 said:

Nothing to do with the agent.

 

I had a hole in mine - the BOI girl pointed out it might impact approval.

 

Just to summarize: 

 

You paid 50k to an agent.  You had a hole in your passport, but got your visa approved.  

 

The guy without an agent didn't get his approved.