LTR-WP VISA Strategy

[Desut]

Hello all,

 

I will be retiring in the next few months and am trying to decide on the best visa strategy for moving to Thailand.

 

My initial plan is to get a Non-Immigrant O (90-day) visa before arriving in Thailand, then once there, I would apply for the LTR-WP visa.

 

Would it be better or easier to apply for the LTR-WP visa before arriving in Thailand?

 

I will be able to meet the income requirement through my pension and passive income streams.

However, I will only just begin receiving my pension in the coming months and will not yet have a full year of income history to show. I also won’t have any 1040s or 1099s yet to show passive income for the previous year.

I’ll only be able to show the income moving forward, as I’ll be moving some funds around to generate it.

 

Also, I’m seeing conflicting information about using a 401(k) savings account to meet the one-year $100k USD asset requirement instead of showing a health insurance plan.

 

Has anyone successfully used a 401(k) to meet this requirement?

 

Thanks for any advice!

 

[BrandonJT]

I would apply for the LTR about 60 days before you plan on arriving in Thailand.  It's all done online and you don't pay anything to apply.  I've seen many recent reports of 3-4 month processing times, so even if they process you in one month, your approval letter will still be valid when you arrive in Thailand.  Otherwise if things work out like expected you'll be approved 30-60 days after you arrive and can book the appointment to pickup your visa in Bangkok.

 

There's absolutely no reason to wait until you're in Thailand to apply, as it's all done online. You'd be filling out the same form whether you're in Thailand or not.  And if you arrive first and your visa takes 3-4 months to process, you might run out of time on your 90-day entry stamp.

[Martyp]

I have the pensioner LTR. I doubt you will be approved if you can’t submit 1-2 years of tax returns showing passive income. There is no cost to trying but I don’t think it will happen. I applied for my pensioner LTR  in 2022 while I was in Thailand on an OA visa. It was easy to apply online from inside Thailand. When you go to get your LTR stamp in your passport they will move you from your existing visa to the LTR. 

[Equatorial]

2 hours ago, Desut said:

Has anyone successfully used a 401(k) to meet this requirement?

 

I'd like to know as well if 401(k) income counts against the $80k requirement. I think in should, given that most 401(k)'s can be converted into an annuity which definitely would count as passive income. 

[Presnock]

5 minutes ago, Equatorial said:

 

I'd like to know as well if 401(k) income counts against the $80k requirement. I think in should, given that most 401(k)'s can be converted into an annuity which definitely would count as passive income. 

best to send via email or call the BOI and ask those folks to insure that you get a CORRECT answer from the folks that decide if you meet the qualifications or not.  They are very helpful.  Emails are usually answered with an hour depending on the time of reciept of the questions.

[asiaexpat]

When I applied for LTV the BOI rejected any reference to my IRA which was converted from my 401K. From this I would expect the same treatment for a 401K. Also, I was required to submit two years of  1040 showing $80K income.  BOI requested other documents over a two month period before approving my application but were always helpful with any questions.

 

[Presnock]

9 hours ago, Desut said:

Hello all,

 

I will be retiring in the next few months and am trying to decide on the best visa strategy for moving to Thailand.

 

My initial plan is to get a Non-Immigrant O (90-day) visa before arriving in Thailand, then once there, I would apply for the LTR-WP visa.

 

Would it be better or easier to apply for the LTR-WP visa before arriving in Thailand?

 

I will be able to meet the income requirement through my pension and passive income streams.

However, I will only just begin receiving my pension in the coming months and will not yet have a full year of income history to show. I also won’t have any 1040s or 1099s yet to show passive income for the previous year.

I’ll only be able to show the income moving forward, as I’ll be moving some funds around to generate it.

 

Also, I’m seeing conflicting information about using a 401(k) savings account to meet the one-year $100k USD asset requirement instead of showing a health insurance plan.

 

Has anyone successfully used a 401(k) to meet this requirement?

 

Thanks for any advice!

 

any questions you might have concerning meeting any of the qualifications, timing of pensions etc, I an LTR holder suggest in order that you get correct information for your own situation, you contact the BOI office either by phone or by email and explain your situation and ask what you need to do to meet the qualifications.  On this forum you could get 100 answers and none could be right or all could be right but then you would not be sure until the BOI looks at your papers and decides whether or not you qualify for the LTR and EXACTLY what you must do to qualify.

[Desut]

Thanks everyone for your input. I did reach out to the BOI as well as an agent in Bangkok, and it looks like the LTR-WP visa may be out of reach for me initially.

 

According to their responses, they require proof of past passive income — such as tax returns (Form 1040) — and showing only future earnings will not be sufficient.

Even if there’s a guarantee that I will receive income going forward, the BOI will not accept it without documented history.

 

To qualify under the Wealthy Pensioner category, I would need to show at least USD 80,000 in passive income received over the past 12 months before I could apply.

 

The BOI suggested I wait until my next tax return is filed, as they primarily base eligibility on tax documents like the 1040.

 

The agent in Bangkok also clarified that 401(k) and IRA withdrawals are not considered passive income. Only pensions, dividends, interest, and realized gains(such as selling stocks) qualify.

 

However, I did not receive a clear answer yet regarding whether 401(k) savings (over $100,000 USD) could be used as an alternative to a health insurance plan under the LTR-WP category.

 

Thanks again for everyone’s advice — it’s been very helpful!