Long Term Residence (LTR) Visa

[Presnock]

57 minutes ago, TroubleandGrumpy said:

 

@Middle Aged Grouch IMO that is not true.  LTR visa holders have no tax on foreign earned income that is REMITTED into Thailand, under the current taxation system.  Under the current Thai taxation system, money earned overseas is not taxable unless it is remitted into Thailand (plus other rules regarding year in which earned). 

 

That could all change when Thai TRD implements a global taxation system under which all income, remitted or not, is taxable income. This is the same tax system that the vast majority of countries utilises - all income earned globally by all tax residents is taxable income whether remitted or not. Thailand is moving in that direction - global income will become taxable for all tax residents - with all the allowances and deductions and exemptions to be determined.  That will not affect the vast majority of Expats IMO - but those earning global income (investments, etc) which are the people likely to qualify for an LTR could be affected - could be the operative word.  No guarantees.  

well some of us ae civi lservice pensioners too and those are taxed by our govt and IAW the DTA's are not taxable by Thailand.  Anyway, as for me the LTR is a perfect visa, the cheapest with the greatest benefits.  I realize it may not be so for others but just because one isn't qualified for it, shouldn't make false claims about it as the benefits are well documented.  I do wish only the best for all expats no matter what the new govt comes up with, whether they continue with the Thaksin negative income taxation program or start from scratch but they have to find some way to broaden the revenue collection in this country in order to move forward IMHO.

[JohnnyBD]

2 hours ago, Qman said:

Hard to understand why they beleive people fitting the "wealthy pensioners" model would opt to have USD 100k earning essentially nothing in a bank account.  If they allowed brokerage investments I feel more people would opt for the LTR visa.

Maybe some wealthy pensioners who have several million in their investment portfolios, who don't keep every single dollar in the stock market, and who choose to keep 5 to 10% in cash, money markets and CDs, can easily afford to move $100k to a high-yield savings acct with Capital One or Chase Bank, and then use it in lieu of the Thai LTR insurance. Maybe some wealthy pensioners prefer to keep enough after-tax cash on hand for the wife to live on just in case something happens to them. Maybe it's part of their overall financial & estate planning. Nothing wrong with that.

 

By the way, I'm 68 and my AXA LTR insurance is 22,875 Baht per year. I had to buy it the first year because my cash was in brokerage acct, but I will move $100k to a high-yield savings acct before the next insurance renewal date.

[placnx]

4 hours ago, DineshR said:

(3) edited returns and 1099’s to remove social security numbers as well as account numbers

Following your suggestion, I searched for online software to redact pdf files. I got WPS Office, but when I tried to redact the US taxpayer number, it said that the file was protected, so I could only black over the number. Someone with editing software could remove the black and see the number. So I printed out the file and blacked it out with a marker pen, then rescanned it.

[placnx]

On 9/1/2025 at 3:36 PM, TroubleandGrumpy said:

Does anyone here have the LTR Visa - I am thinking of changing over from the annual extensions and 90 day reporting circus.

 

How long did it take for approval and what tips and advice is anyone able to provide.

 

Related question - what company or broker do you have medial insurance with (if any).

 

I have 5 questions about filling the application:

 

I am trying to fill out the application online for "wealthy pensioner". To start, I scanned my passport in color at 600 dpi. This produced a 25mb file. I successfully uploaded it, and the registration completed. If in fact this big file will create a problem, I have rescanned at 300 dpi which produced a 4.9 mb file. 1) Can I & should I change to the smaller file?

 

After filling out the form, I could not sign it. Maybe it has to be done with a mouse or Apple pencil. 2) Can someone confirm how they did it? So I clicked on "Save Draft".

 

When I opened the application form again, a lot of entries were blank, and the uploaded files did not show, so I put them in again, but still did not sign. 3) Were the entries still there despite not showing, and uploaded files, too?

 

After reading the new entries, I decided to redo the scans so as not to show my taxpayer number, since people commented that they balcked out the number and BOI did not object. 4) Will the uploaded files remain in their system if I remove & replace them? (Maybe someone has asked BOI this question).

 

The current income item asked for the last 365 days of income. 5) Can I just give them 1 Septmber 2024 to 31 August 2025 instead of lopping off the first few days of September 2024 and adding on the first few days of September 2025?

 

 

[placnx]

2 hours ago, JohnnyBD said:

By the way, I'm 68 and my AXA LTR insurance is 22,875 Baht per year. I had to buy it the first year because my cash was in brokerage acct, but I will move $100k to a high-yield savings acct before the next insurance renewal date.

Maybe it's best to confirm that you are not locked in to the insurance solution for the next 5 years.

[K2938]

6 hours ago, JohnnyBD said:

By the way, I'm 68 and my AXA LTR insurance is 22,875 Baht per year. I had to buy it the first year because my cash was in brokerage acct, but I will move $100k to a high-yield savings acct before the next insurance renewal date.

 

 

What is the maximum insurance deductible allowed for the LTR visa?  Or are there no limitations on this?

 

 

[oldcpu]

9 hours ago, TroubleandGrumpy said:

 

No - no income taxes payable on money remitted into Thailand as per the current Thai tax system. That could change.

 

i assumed you looked at the details of the Australian-Thai DTA.  I do not know all the details, but I believe i saw mention that pensions of former Australian government employees (civil/military) is not taxable by Thailand for Australian expats who live in Thailand and who are assessed as Thai tax residents.  

 

However I read other Australian pensions (ie not ex-military and not a former civil servant)  are taxable by Thailand when remitted (if not from savings from before 1-Jan-2024) if the Australian is a Thai tax resident - so I assume you considered that.

 

[scoutman360]

On 9/5/2025 at 1:14 PM, TroubleandGrumpy said:

But now the changing political and inevitably taxation situation, has made me pause.  No rush - I plan to be here a long time -

I get your point. But can you point out any situation where Thailand backtracked against people who were approved already for anything? Normally rules change for the new people, not the already approved. I am just interested in hearing about what facts influenced your fears. 

[oldcpu]

11 minutes ago, scoutman360 said:

I get your point. But can you point out any situation where Thailand backtracked against people who were approved already for anything? Normally rules change for the new people, not the already approved. I am just interested in hearing about what facts influenced your fears. 

 

A supporting statement to that - for a while foreigners who went to Phuket immigration for a one year extension on their type-OA visa, if they obtained their type-OA before a certain date , were 'grandfathered' and did not have to meet the then recently introduced health insurance requirements, while those with a newer type-OA visa did have to meet such Heath Insurance requirements.

 

However i think most immigration offices did not follow Phuket's immigration policy - and its possible Phuket itself now no longer follows their original "grandfathering" and require all type-OA visa holders to get Health Insurance .... for that - I do not know the current status. I note the Phuket Immigration volunteer web page no longer defines the Type-OA grandfathering dates, while i believe at one time they did.

 

Still, I agree, grandfathering is possible re any taxation changes for LTR visa holders.

 

 

[oldcpu]

10 hours ago, Qman said:

Hard to understand why they beleive people fitting the "wealthy pensioners" model would opt to have USD 100k earning essentially nothing in a bank account.  If they allowed brokerage investments I feel more people would opt for the LTR visa.

 

i guess it boils down to what is 'wealthy' for some is not 'wealthy' for others.  USD $100K may not be so big for some, and given the money can be in a bank account abroad earning 3.5% to ~4.5% that means while not matching good stock market earnings, it is not essentially nothing and it is still earning.   Also, it is often a good policy to keep some money in cash (albeit I agree, keep the majority in investments).  

 

One can use a foreign savings account (where one can not trade in equities) for self health insurance for BoI for the LTR.

 

The issue BoI have with allowing cash in a brokerage account, is one can lose all their money in a brokerage a lot easier than they can in a bank (assuming a solid well established bank).  And if one loses their brokerage money, they no longer meet the BoI self health insurance requirements. Hence BoI decided to not allow that possibility.

[scoutman360]

4 hours ago, placnx said:

I have 5 questions about filling the application:

 

I am trying to fill out the application online for "wealthy pensioner". To start, I scanned my passport in color at 600 dpi. This produced a 25mb file. I successfully uploaded it, and the registration completed. If in fact this big file will create a problem, I have rescanned at 300 dpi which produced a 4.9 mb file. 1) Can I & should I change to the smaller file?

 

After filling out the form, I could not sign it. Maybe it has to be done with a mouse or Apple pencil. 2) Can someone confirm how they did it? So I clicked on "Save Draft".

 

When I opened the application form again, a lot of entries were blank, and the uploaded files did not show, so I put them in again, but still did not sign. 3) Were the entries still there despite not showing, and uploaded files, too?

 

After reading the new entries, I decided to redo the scans so as not to show my taxpayer number, since people commented that they balcked out the number and BOI did not object. 4) Will the uploaded files remain in their system if I remove & replace them? (Maybe someone has asked BOI this question).

 

The current income item asked for the last 365 days of income. 5) Can I just give them 1 Septmber 2024 to 31 August 2025 instead of lopping off the first few days of September 2024 and adding on the first few days of September 2025?

 

 

Sorry I don't know how to use mutiquote

 

1) Yes, there is a file size limit. I think it was 2MB per document? If you upload anything over the limit, the system ignores it. My tax return (PDF) size was huge. I found websites online that reduce files sizes for you. Yeah, you gotta upload your file. Just make sure your SSO# is blocked. 

 

2) I tried to sign mine with a mouse, and it looked unrecognizable. I borrowed my GF Apple Notepad and signed using my finger. Still laughable, but it worked. 

 

3) The empty entries were most likely because the file size was too big.  That happened to me. 

 

4) I am very sure that the website gives you an option to delete any of your uploaded files. I used it frequently in order to update my files. 

 

5) I think you are talking about the section that asks about your "current year" income to date. I didn't see anything asking for 365 day of income. I applied for my LTR in March which only gave me 2 months of this year to share my current income for this year. Most of my Capital Gains arrive in December. So, with only 2 months into this year, my records were depressing. I told the truth and the BIO had no problems. My advice is to not worry. They will focus on your previous year passive income. 

 

 

[oldcpu]

8 hours ago, TroubleandGrumpy said:

That could all change when Thai TRD implements a global taxation system under which all income, remitted or not, is taxable income.

 

Currently, there is no "when".

 

Just to be clear, in case others reading this thread are confused.

 

At most, there is an "if".    

 

And I note again, many of the Thai politicians are wealthy. They have money outside of Thailand invested, and they make money off of that. They are not keen to see such taxed globally. So they will not support a global taxation as it is against their financial interests. And they do have influence.

 

There is no sure 'thing' about global taxation.  Once there is a drafted bill presented to the Thai government, to change Thai tax law, (or an equivalent Royal Decree) then there may be a 'when'.

 

Currently thou, the taxation system is a remitted system.

.

[oldcpu]

10 hours ago, TroubleandGrumpy said:

It seems quite a few people on LTR have this - global insurance from their home country. Maybe I should take a trip back to Australia and get that sorted before returning here.  In Australia medical insurance is very cost effective - unlike in USA where paying large amounts of money for medical insurance is the norm. 

 

Could I ask - any LTR Visa holders here who do not have global insurance from USA.  

 

i have global health insurance from Europe from Cigna.  It covers myself and my Thai wife anywhere in the world except it does not cover us as residents if we reside in Canada nor if we reside in the USA. However it does give us a few weeks travel insurance coverage in the USA and a few weeks travel insurance in Canada.

 

However there is a specific method one has to adopt to get the foreign health insurance accepted by BoI which I did not know in 2023 when I obtained my LTR-WP, so i went with self-health insurance route (which was not an issue for me - while i concede this is a very very big issue for some others).   

 

To get foreign health insurance accepted by BoI, one needs an official letter from the foreign Health Insurance company saying some specific details about the coverage in the letter.

 

Something like "The xxx insurance plan covers the entire course of stay in Thailand with hospitalization treatment of no less than 50,000 US$ and the remaining period of no less than xxx months).  ... I don't know the exact number of months to put there.  Others who have succeeded with this letter perhaps can provide more details.

 

In 2028, when i go to reprove my finances for my LTR-WP, i plan to see if they will accept me switching from self health insurance, to using my European Health insurance via such a letter . 

[BrandonJT]

1 hour ago, K2938 said:

What is the maximum insurance deductible allowed for the LTR visa?  Or are there no limitations on this?

Don't believe there is a maximum.  At least when I purchased a policy simply to satisfy the insurance requirement, I chose the maximum deductible possible and no one said anything. I can't remember what it was, but it was quite high. But this was 3 years ago.

[Presnock]

9 hours ago, K2938 said:

 

 

What is the maximum insurance deductible allowed for the LTR visa?  Or are there no limitations on this?

 

 

I have an LTR visa, insurance for hospitalization is unlimited but BOI said the officials needed to have the insurer send a signed letter that the insurance guaranteed at least 50K USD for hospitalization, got that within 24 hurs from the insurer plus BOI asked the insurer to state how long the policy was in effect - they wrote in their letter 2099!

[JohnnyBD]

13 hours ago, K2938 said:

What is the maximum insurance deductible allowed for the LTR visa?  Or are there no limitations on this?

I went to the AXA website and got a quote for someone age 70 years old. See below. It's easy to get a quote, and buy a policy. They emailed me the docs to upload for LTR visa. I bought the 22,875 policy, and my age is 68.

 

 

 

[TroubleandGrumpy]

20 hours ago, Presnock said:

well some of us ae civi lservice pensioners too and those are taxed by our govt and IAW the DTA's are not taxable by Thailand.  Anyway, as for me the LTR is a perfect visa, the cheapest with the greatest benefits.  I realize it may not be so for others but just because one isn't qualified for it, shouldn't make false claims about it as the benefits are well documented.  I do wish only the best for all expats no matter what the new govt comes up with, whether they continue with the Thaksin negative income taxation program or start from scratch but they have to find some way to broaden the revenue collection in this country in order to move forward IMHO.

I am NOT making false claims - you did. I said there is no guarantee LTR holders will be exempt under any new global taxation system - might be and might not be.  And that is but one of the many reasons why at this time I am not applying. I am not saying others should not apply, or were silly to apply and get one.  I started the post asking questions and provided my decision and reasons. What you do is up to you.  PS - I am not and never was a public servant.  

[TroubleandGrumpy]

13 hours ago, oldcpu said:

i assumed you looked at the details of the Australian-Thai DTA.  I do not know all the details, but I believe i saw mention that pensions of former Australian government employees (civil/military) is not taxable by Thailand for Australian expats who live in Thailand and who are assessed as Thai tax residents.  

 

However I read other Australian pensions (ie not ex-military and not a former civil servant)  are taxable by Thailand when remitted (if not from savings from before 1-Jan-2024) if the Australian is a Thai tax resident - so I assume you considered that.

Yes - been through all that.  All Government provided Pensions are not taxable in Thailand. This was confirmed by a TRD Officer in an interview based on the fact that all Govt Pensions that Thais receive are not taxable income, and all tax residents are entitled to the same benefits, allowances, deductions and exemptions'. She further stated that is why TRD has never 'pursued' Expats because they know they mainly receive Government Pensions. But it is true to state that this is only an 'opinion' and there has been no decree one way or the other.   

[TroubleandGrumpy]

13 hours ago, scoutman360 said:

I get your point. But can you point out any situation where Thailand backtracked against people who were approved already for anything? Normally rules change for the new people, not the already approved. I am just interested in hearing about what facts influenced your fears. 

You been here long ??  The Thai Govt is always backtracking things - everything - including taxation rules.  Check out their backflip when they decided to tax all remittances after Jan 1 2024 - the disaster we all predicted happened and they canned that rule change.

 

If you are actually asking about the LTR Decree that holders do not pay income taxes on income remitted into Thailand, then that is not changeable because it is a decree - unless they make a decree to over turn that decree (very rare).  However, the issue is not that decree, it is that the decree is for 'income remitted into Thailand' under the current Taxation system. Thailand does not currently tax the income of its tax residents that is earned overseas - only when it is brought into Thailand.

 

A global taxation system taxes all income earned globally, whether it is remitted or not. No one knows for sure if that same LTR exemption will be extended to include income earned overseas that is not remitted into Thailand.  If that is the case and the BOI/Immigration get that approved - Thailand will become another tax haven where Thai tax residents can earn money world wide and not have to pay any income taxes in other countries - for a one off fee of 50K Baht for a period of 10 years.  There are 10 countries that currently do that - Kuwait, Monaco, United Arab Emirates, Vanuatu, Saint Kitts and Nevis, Bahamas, Bahrain, Brunei, Cayman Islands, Qatar, Antigua and Barbuda,  Bermuda, British Virgin Islands, Maldives, Oman, Turks and Caicos, and Saudi Arabia.  Perhaps Thailand is going to try and join that list?? But I dont think they will 'give it away' for 50K Baht. However, as one poster says - maybe get in now before they do, after which the LTR price goes way up.    

 

 

 

[TroubleandGrumpy]

13 hours ago, oldcpu said:

Currently, there is no "when".

Just to be clear, in case others reading this thread are confused.

At most, there is an "if".    

And I note again, many of the Thai politicians are wealthy. They have money outside of Thailand invested, and they make money off of that. They are not keen to see such taxed globally. So they will not support a global taxation as it is against their financial interests. And they do have influence.

There is no sure 'thing' about global taxation.  Once there is a drafted bill presented to the Thai government, to change Thai tax law, (or an equivalent Royal Decree) then there may be a 'when'.

Currently thou, the taxation system is a remitted system.

 

You quoted me out of context - I was explaining what that would mean from my earlier statements. But yes I should have written if/when like I have on many other occasions.  But it is coming IMO - unless you have a royal decree that states they never will, then they can - and IMO they will.  Yes there is absolutely no guarantee Thailand will implement a global taxation system. But IMO it is not wise to only plan based on what has been presented for Royal Approval. There is a period in between when something is 'coming' and IMO it is coming. Yes I could be wrong.  

 

Thailand has implemented a 15% Global Minimum Tax (GMT) on multinational enterprises (MNEs) from January 2025, aligning with over 130 countries. This is just part of the changes to their taxation system that Thailand is implementing.  

Thailand Global Minimum Tax In 2025 | Acclime  https://thailand.acclime.com/news/global-minimum-tax/

 

Proposed Taxation of Worldwide Income in Thailand | RSM Thailand https://www.rsm.global/thailand/news/proposed-taxation-worldwide-income-thailand

 

Recently, the TRD announced in a newspaper[1] that they are preparing to amend the law to adopt a new rule to impose personal income tax on all worldwide income accrued by Thai taxpayers. This new rule would allow the TRD to collect tax from any Thai tax resident who derives foreign-sourced income, even if they do not bring such income into Thailand. 

Tax Alert: Proposed Adoption of New Overseas Income Rules | Grant Thornton 

https://www.grantthornton.co.th/insights/tax-alert-proposed-adoption-of-new-overseas-income-rules/

 

Now please dont accuse me of scaremongering  - you stated that it does not happen until it does happen - I am stating that IMO it is happening (TRD is working behind the scenes as the TRD Officer said).

[TroubleandGrumpy]

13 hours ago, oldcpu said:

 

i have global health insurance from Europe from Cigna.  It covers myself and my Thai wife anywhere in the world except it does not cover us as residents if we reside in Canada nor if we reside in the USA. However it does give us a few weeks travel insurance coverage in the USA and a few weeks travel insurance in Canada.

 

However there is a specific method one has to adopt to get the foreign health insurance accepted by BoI which I did not know in 2023 when I obtained my LTR-WP, so i went with self-health insurance route (which was not an issue for me - while i concede this is a very very big issue for some others).   

 

To get foreign health insurance accepted by BoI, one needs an official letter from the foreign Health Insurance company saying some specific details about the coverage in the letter.

 

Something like "The xxx insurance plan covers the entire course of stay in Thailand with hospitalization treatment of no less than 50,000 US$ and the remaining period of no less than xxx months).  ... I don't know the exact number of months to put there.  Others who have succeeded with this letter perhaps can provide more details.

 

In 2028, when i go to reprove my finances for my LTR-WP, i plan to see if they will accept me switching from self health insurance, to using my European Health insurance via such a letter . 

Thanks - that is very interesting.  So the insurance is not global insurance from here in Thailand, but from in Europe. Does that mean you have a European address and obtained it while there or visiting?  I did not know that someone in Thailand could get global health insurance (not travel insurance) from a European office - I assume you must have an address in Europe.   Unfortunately, I only have an Aussie address and insurance companies in Australia only provide health insurance within Australia - anything outside Australia has to be travel insurance. The Govt controls pricing and availability, and that is why it is only available within Australia. 

[TroubleandGrumpy]

19 hours ago, placnx said:

I have 5 questions about filling the application:

 

I am trying to fill out the application online for "wealthy pensioner". To start, I scanned my passport in color at 600 dpi. This produced a 25mb file. I successfully uploaded it, and the registration completed. If in fact this big file will create a problem, I have rescanned at 300 dpi which produced a 4.9 mb file. 1) Can I & should I change to the smaller file?

 

After filling out the form, I could not sign it. Maybe it has to be done with a mouse or Apple pencil. 2) Can someone confirm how they did it? So I clicked on "Save Draft".

 

When I opened the application form again, a lot of entries were blank, and the uploaded files did not show, so I put them in again, but still did not sign. 3) Were the entries still there despite not showing, and uploaded files, too?

 

After reading the new entries, I decided to redo the scans so as not to show my taxpayer number, since people commented that they balcked out the number and BOI did not object. 4) Will the uploaded files remain in their system if I remove & replace them? (Maybe someone has asked BOI this question).

 

The current income item asked for the last 365 days of income. 5) Can I just give them 1 Septmber 2024 to 31 August 2025 instead of lopping off the first few days of September 2024 and adding on the first few days of September 2025?

Best to ask BOI those questions - they are good and will answer via email within a day or two (want the business). Go to their website and contact section - fill-in the online enquiry form and 'send'. They dont like receiving emails, so if you have follow ups you need to do that via the online website way again. 

[JohnnyBD]

On 9/1/2025 at 3:36 PM, TroubleandGrumpy said:

Does anyone here have the LTR Visa - I am thinking of changing over from the annual extensions and 90 day reporting circus.

 

How long did it take for approval and what tips and advice is anyone able to provide.

 

Related question - what company or broker do you have medial insurance with (if any).

Just to answer your original questions. Yes, I have the LTR-WP visa.

 

I applied on May 29, 2024, was approved on July 3, 2024, and visa was issued on July 8, 2024 at the BOI & IM offices in Bangkok. I used my 2 pensions (> than $80k) to qualify. No other financial docs were needed. Very easy process.

 

The reasons I changed to the LTR were: 10-year visa, 5-year renewal, 1-year reporting, tax exemption, minimal cost difference to my yearly extensions, airport fast track, no need to keep dead money in a Thai bank anymore, no more trips to IM for yearly extensions, and no more 90-day reporting.

 

I went the insurance route in because I was saving my cash to purchase some real estate. I'm back over $100k again, so I will ask BOI if I can change to the $100k in bank in lieu of insurance before my next renewal date. I bought the AXA insurance for 22,875 Baht per annum.

 

[Yumthai]

56 minutes ago, TroubleandGrumpy said:

Thailand will become another tax haven where Thai tax residents can earn money world wide and not have to pay any income taxes in other countries - for a one off fee of 50K Baht for a period of 10 years.  There are 10 countries that currently do that - Kuwait, Monaco, United Arab Emirates, Vanuatu, Saint Kitts and Nevis, Bahamas, Bahrain, Brunei, Cayman Islands, Qatar, Antigua and Barbuda,  Bermuda, British Virgin Islands, Maldives, Oman, Turks and Caicos, and Saudi Arabia.

You are omitting all the countries that use territorial taxation where foreign sourced income is not taxed (Hong Kong, Singapore, Panama, Paraguay, Philippines (only foreigners), Thailand (currently if not remitted),... etc.), plus the long list of countries using residence-based or any taxation with inefficient tax collection system or not enforcing their tax rules for some reason (lack of means/will).

 

 

[Unamerican]

On 9/3/2025 at 12:10 PM, TroubleandGrumpy said:

22K a year

22K in what currency?? 

[Unamerican]

22 minutes ago, JohnnyBD said:

I bought the AXA insurance below for 22,875.

Again: in what currency is this?? 

[JohnnyBD]

11 minutes ago, Unamerican said:

Again: in what currency is this?? 

Thai Baht. I guess I updated my post after you posted.

[TroubleandGrumpy]

4 hours ago, Yumthai said:

You are omitting all the countries that use territorial taxation where foreign sourced income is not taxed (Hong Kong, Singapore, Panama, Paraguay, Philippines (only foreigners), Thailand (currently if not remitted),... etc.), plus the long list of countries using residence-based or any taxation with inefficient tax collection system or not enforcing their tax rules for some reason (lack of means/will).

Yes - the issue was tax havens that do not tax their tax resident's incomes - I was only talking about countries who are 'tax havens'.   There are many different taxation systems - those 10 are the tax havens (no income taxes).  If you look at the list in the link below from Wikipedia, the vast majority use a residential based system, and the majority tax global income. There are over 25 countries that tax locally earned income of foreigners, but not their foreign income (with some catches and gotchas). Thailand is the only one in that list that only taxes foreign earned income when it is remitted into Thailand. 

[TroubleandGrumpy]

4 hours ago, Unamerican said:

22K in what currency?? 

We are referring to Baht. 

[oldcpu]

8 hours ago, TroubleandGrumpy said:

 

You quoted me out of context - I was explaining what that would mean from my earlier statements. But yes I should have written if/when like I have on many other occasions.  But it is coming IMO - unless you have a royal decree that states they never will, then they can - and IMO they will.  Yes there is absolutely no guarantee Thailand will implement a global taxation system. But IMO it is not wise to only plan based on what has been presented for Royal Approval. There is a period in between when something is 'coming' and IMO it is coming. Yes I could be wrong.  

 

The future when it comes to Thailand and government plans are hard to predict.  I think all expats, who have lived in Thailand for many years, will know of many plans the  Thai government officials talked about, where there was talk something was going to happen, ...  government officials said so,... and ?  and ?   and nothing transpired.

 

There is a saying in Canada, when it comes to ice-hockey games, in predicting who is going to win the ice-hockey game. The saying is "Its not over until the fat lady sings".  Sort of a funny saying, with a history dating to a fabulous singer, who would often sing at the end of an ice hockey game in a certain city.    But i diverge. 

 

In my case i am not making predictions whether global taxation will or will not, other than state its not a sure thing either way.

 

I will predict thou, it will NOT happen overnight. 

 

That means there is a window NOW for any on the LTR, who have money outside of Thailand , money that will other wise be taxed if remitted if not on an LTR, if the money was brought into Thailand now (on an LTR-WP/WGC) it won't be taxed.  There is a pretty much assured window for the next 2 to 3 years and maybe more, to remit money to Thailand and not have it taxed if on those LTR visas.

 

Further, IF any global taxation system is implemented, and assuming it affects all expats alike, regardless of the Visa, the LTR is still a great visa. Superior, for those of us with the money, to get the visa instead of staying with the Type-O/OA route.   

• who wants to do 90-day reports all the time (per type-O/OA visa)?  Not me.
• who wants to have to sweat through immigration for 1 day per year to do an annual re-proving of one's finances per type-O/OA visa?  Not me.
• who (if under age 70 with no Thai spouse) wants to stand in line for 45 to 60 minutes at the entrance/departure immigration of one is entering or leaving Thailand (as IS the case in Phuket).
• further if on a Type-OA visa, one can NOT self insure.  One can self insure with LTR  with money in a high interest yielding bank account OUTSIDE of Thailand. One can not do that with a Type-OA visa.   ... There is a risk Type-O could also end up having to go for health insurance sometime in the next decade.
• further if on a Type-OA visa one can NOT use a foreign branch of a Health Insurance company. It MUST be health insurance from the Thai branch of a health insurance company.  With an LTR visa one can use a foreign branch of a health insurance company.   And, again, there is the ever present risk a  Type-O could also end up having to go for health insurance at some time in next decade ... .
• the 50,000 THB fee for 10 years for the LTR visa (which includes multiple re-entry) is no more expensive than the 57,000 THB (total over 10 years) for a Type-O/OA if one assumes a multiple re-entry permit was desired to be purchased with the Type-O/OA.  One can even speculate the type-O/OA fee, or the cost of multiple re-entry stamp, could increase in the next 10 years (although I personally hope that does not happen). What are the odds of no price increase in Type-O/OA visa for 10 years.  i would not want to bet on no change. 10 years is a long time.

If there are any on an LTR-WP visa, who share your view that global taxation is around the corner, they have a good window now for those on LTR-WP/WGC to bring money into Thailand to provide living expenses for a number of future years.

 

Of course, your elephant in the room - we get here into a debate on what is considered wealthy where for some, the $100k US equivalent in a high interest yielding foreign bank account, for self health insurance is not a big issue for some who are wealthy, but it is an issue for others who consider themselves wealthy (but are not in BoI's assessment)..

 

This really depends on one's financial circumstances, ... I still maintain, it is better to go for the LTR now, if one wishes to live in Thailand > 6 months/per calendar year, especially if planning to bring a lot of money into Thailand (such as purchasing a condo while one plans to reside in Thailand long enough to be a tax resident).  Waiting gives no advantage IF one plans anyway to live in Thailand for more than 1/2 of a calendar year 

 

... where clearly I type that from the view that if one is sufficiently wealthy to qualify for the wealthy pensioner LTR,  one should either buy health insurance (that meets BoI requirements) or put the money in a high interest yielding bank account outside of Thailand to self insure. If that is an issue, then is one wealthy?  Perhaps BoI does not consider one is wealthy if that is an issue.

 

Of course clearly, it boils down to what we both agree on (I believe) - that it really depends on each person's own financial situation.