They haven’t reduced the price at all, they just have introduced the new Bronze privilege card, which at this stage is only planned to run for 6 months starting on December 15th.
If you look at the way they've made these changes at the same time, it's pretty clear to me that they are trying to gain more taxes. So my guess is that they won't give a break. I would consider the new elite Visa at that price and consider investing in Thailand. Since the new tax laws are now in place I've planning my move already.
Long-term elite visa holder here. The only thing those I talk with want is either tax exemption or a preferential treatment of assessment and rate. If this isn't addressed the LTR may be more appealing. For me I'll be sure to spend more time in Malaysia etc next year.
@@kylemh_ If I was deciding between both options today the LTR is a no brainer for me. Those I know with it already are extremely happy with it. I'll wait and see what happens over next year or two. I may sell my elite visa and move to the LTR.
@@daruman8265 Yes sell elite. I hold an original lifetime elite. I can sell to another person and it turns into a 30 year elite. I guess you are completely ignorant of the transferability of the higher tier elite packages. 🤣🤣
Check the 10-year Long Resident visa that costs 50,000 baht. Annual residence notifications, fast track exit and entry, other privileges depending on visa category. See Board of Investment Thailand.
Wealthy Pensioner - Personal income of at least 80,000 USD/year at the time of application - In case of personal income below 80,000 USD/year but no less than 40,000 USD/year, applicants must invest at least 250,000 USD in Thai government bonds, foreign direct investment, or Thai property Most of the Expats would be under the 80K passive income and investing 250K in Thailand you would most likely be losing 20K a year in income you could have generated outside of Thailand. Could buy a condo just before you apply get the visa flip it straight away and rebuy another one when you reapply in 10 years.
Cheapest and easiest LT visa in the region would be the Philippine retirement visa. Written in law that as a resident alien, you are not subject to tax on your foreign sourced income unless its for work performed in the Philippines. Cambodia also an option while they have no mechanism in place to tax foreigners on foreign sourced income, but apparently there is a law for it.
If you're resident in Thailand for a cumulative 180 days in a year, you may be subjected to Thailand income tax on world wide income regardless of whether you make money transfers into Thailand or not. Taxation limited by any Double Taxation Treaty.
At 650 000 bahts it is still not a great deal for 5 years. The DTV is the way to go for 5 years. It would be nice if they reintroduced the previous 20 years Elite visa at 1 million bahts. That one has a niche. They should give some tax exemption for foreign income. Otherwise it is a waste of money.
Not surprised as it boosts the Thai economy. Good move by the Thai Government. The downside here is that the Thai Government are typically unable to manage this influx from abroad. Most places are now trucking in fresh water to apartments and entire small towns, especially in the busy spots like Hua Hin while the islands such as Phuket and the smaller islands are worse still and now bursting at the seams mainly with displaced Slovaks. These islands are some of the most threatened communities in South East Asia as far as sustainability goes, the roads are clogged and the utilities infrastructure is falling apart. It’s a challenge to say the least. So with the Thai Government encouraging more people to live here comes a big responsibility on their part which seems to be lacking. With 8.2 billion people in our midst it’s not a unique challenge just for Thailand but keep in mind it’s ever present here!
cant make heads or tails of it tbh. Are rich/wealthy/high income earners/retirees/etc flocking to TLand for some reason ? Just a bit curious, but im not losing sleep on it if I dont know.
@@Gizziiusa Nope. But the Thai elite visum used to be 1 million for 20 years. And that was doable since the retirement visa also requires 800k every year.
@@ekimandersom4478 in the past, the retirement visas you speak of "required" 800k in a Thai bank account (if memory serves me correct). And I remember that could be circumvented by Thai businesses, like a "fixer", but honestly I dont remember how exactly it was done (we are talking at least 15 years ago, so I know alot has changed since then). at the time, I wasnt of age, so only lent a "half-ear" to the info the retirees were talking about. Was an "O visa", but surely rules, requirements, etc has changes so much...but whatever.
The 800.000 baht on your bank account for an 0 retirement visa. Means tax to bring the money in. Which means less retirement people will choose Thailand to retire in. Less will be spent in Thailand if Thailand taxes people. Thailand is going to have to think things over again.
Thanks. Great video. Lesson: Never put all your eggs in 1 basket as any country can change their rules anytime. Always have multiple levers/flags. Could you please also make a video on whether it's possible to be a tax resident of nowhere, by living in 2-3 countries in the year. Assuming of course that one follows each countries' tax residence rules carefully. I keep hearing that opening bank accounts will be an issue without a tax residence ... But what if one already has all the required bank accounts in place? Can this then work in practice then? Thanks in advance.
I'd say depends in your citizenship. If you're American you know the aswer... For other countries, some require you to have a tax residency & base which is serious, some others don't care.
@@FrozenSkyy you’re very welcome. This guy on the video is amazing and the best! Extremely knowledgeable. Personally, I believe he is the best and most knowledgeable in Southeast Asia.
@@ideaphile Consider it feedback. Shortchanging viewers advertising a comparison while providing no details is poor delivery on your part. It's not sustainable, if substance even matters to you beyond clickbait.
Any visa you get have to pay Thai tax if you become thai tax resident ( >180 days reside in thai) ....I think that thai gov.have different departments ( Immigration,BoI ,Elite ???)to issue you a Visa but they did not deal with the Tax Department about the tax issue ...😂😂😂 So .....😂😂😂 No clear promise that you have an exemption on Tax ...
And if you aren’t in your underwear 50? Every old person goes straight to retirement visas without understanding that if you aren’t old this isn’t an option
They haven’t reduced the price at all, they just have introduced the new Bronze privilege card, which at this stage is only planned to run for 6 months starting on December 15th.
If you look at the way they've made these changes at the same time, it's pretty clear to me that they are trying to gain more taxes. So my guess is that they won't give a break. I would consider the new elite Visa at that price and consider investing in Thailand. Since the new tax laws are now in place I've planning my move already.
Long-term elite visa holder here. The only thing those I talk with want is either tax exemption or a preferential treatment of assessment and rate.
If this isn't addressed the LTR may be more appealing.
For me I'll be sure to spend more time in Malaysia etc next year.
LTR is already more appealing since it’s so much cheaper. It’s just much harder to get.
@@kylemh_ If I was deciding between both options today the LTR is a no brainer for me. Those I know with it already are extremely happy with it.
I'll wait and see what happens over next year or two. I may sell my elite visa and move to the LTR.
@@Jefe_Perro sell your elite visa? Hey ,....
Sell elite visa 😂
@@daruman8265 Yes sell elite. I hold an original lifetime elite. I can sell to another person and it turns into a 30 year elite.
I guess you are completely ignorant of the transferability of the higher tier elite packages. 🤣🤣
Check the 10-year Long Resident visa that costs 50,000 baht. Annual residence notifications, fast track exit and entry, other privileges depending on visa category. See Board of Investment Thailand.
Wealthy Pensioner
- Personal income of at least 80,000 USD/year at the time of application
- In case of personal income below 80,000 USD/year but no less than 40,000 USD/year, applicants must invest at least 250,000 USD in Thai government bonds, foreign direct investment, or Thai property
Most of the Expats would be under the 80K passive income and investing 250K in Thailand you would most likely be losing 20K a year in income you could have generated outside of Thailand.
Could buy a condo just before you apply get the visa flip it straight away and rebuy another one when you reapply in 10 years.
Cheapest and easiest LT visa in the region would be the Philippine retirement visa. Written in law that as a resident alien, you are not subject to tax on your foreign sourced income unless its for work performed in the Philippines. Cambodia also an option while they have no mechanism in place to tax foreigners on foreign sourced income, but apparently there is a law for it.
That doesn’t help anyone who wants to live in Thailand
@ekimandersom4478 you completely sidestepped the point being made.
Notice it’s retirement though. So if you aren’t in your 50s this doesn’t apply
philippine srrv is an administrative hot mess, typical for the r.p.
@@pandemicoftheunvaccinated5367 The point of this video was Thailand elite visa
Dropped prices?? Just a new category. All other categories are the same price.
If you're resident in Thailand for a cumulative 180 days in a year, you may be subjected to Thailand income tax on world wide income regardless of whether you make money transfers into Thailand or not. Taxation limited by any Double Taxation Treaty.
who and where says that, can you show us the Law today? It's not true at the moment but Thailand is about to bring it soon.
At 650 000 bahts it is still not a great deal for 5 years. The DTV is the way to go for 5 years. It would be nice if they reintroduced the previous 20 years Elite visa at 1 million bahts. That one has a niche. They should give some tax exemption for foreign income. Otherwise it is a waste of money.
Not surprised as it boosts the Thai economy. Good move by the Thai Government. The downside here is that the Thai Government are typically unable to manage this influx from abroad. Most places are now trucking in fresh water to apartments and entire small towns, especially in the busy spots like Hua Hin while the islands such as Phuket and the smaller islands are worse still and now bursting at the seams mainly with displaced Slovaks. These islands are some of the most threatened communities in South East Asia as far as sustainability goes, the roads are clogged and the utilities infrastructure is falling apart. It’s a challenge to say the least. So with the Thai Government encouraging more people to live here comes a big responsibility on their part which seems to be lacking. With 8.2 billion people in our midst it’s not a unique challenge just for Thailand but keep in mind it’s ever present here!
Still way too expensive
I agree.
It's the same price as a used car in the west 😂
cant make heads or tails of it tbh. Are rich/wealthy/high income earners/retirees/etc flocking to TLand for some reason ? Just a bit curious, but im not losing sleep on it if I dont know.
@@Gizziiusa Nope.
But the Thai elite visum used to be 1 million for 20 years.
And that was doable since the retirement visa also requires 800k every year.
@@ekimandersom4478 in the past, the retirement visas you speak of "required" 800k in a Thai bank account (if memory serves me correct). And I remember that could be circumvented by Thai businesses, like a "fixer", but honestly I dont remember how exactly it was done (we are talking at least 15 years ago, so I know alot has changed since then). at the time, I wasnt of age, so only lent a "half-ear" to the info the retirees were talking about. Was an "O visa", but surely rules, requirements, etc has changes so much...but whatever.
So what visa would be good for me if i turn 50 in 2 years and then i can get the retirement visa?
The 800.000 baht on your bank account for an 0 retirement visa. Means tax to bring the money in. Which means less retirement people will choose Thailand to retire in. Less will be spent in Thailand if Thailand taxes people. Thailand is going to have to think things over again.
800,000 or 65000/month pension income. Baht in Thai bank account earns some interest that has tax withheld + fee for debit card.
Every smart person will get the DTV. This 600k is ridiculous in comparison to DTV
Thanks. Great video. Lesson: Never put all your eggs in 1 basket as any country can change their rules anytime. Always have multiple levers/flags.
Could you please also make a video on whether it's possible to be a tax resident of nowhere, by living in 2-3 countries in the year. Assuming of course that one follows each countries' tax residence rules carefully.
I keep hearing that opening bank accounts will be an issue without a tax residence ... But what if one already has all the required bank accounts in place? Can this then work in practice then?
Thanks in advance.
I'd say depends in your citizenship. If you're American you know the aswer... For other countries, some require you to have a tax residency & base which is serious, some others don't care.
@phuketeer Thanks for this, appreciate 👍
@@FrozenSkyy you’re very welcome. This guy on the video is amazing and the best! Extremely knowledgeable. Personally, I believe he is the best and most knowledgeable in Southeast Asia.
So the entire video provided no details on the new visa.
Perhaps you could go to all that trouble to inform others and do a stream to satisfy your own needs.
@@ideaphile Consider it feedback. Shortchanging viewers advertising a comparison while providing no details is poor delivery on your part. It's not sustainable, if substance even matters to you beyond clickbait.
@@jlee324it’s a bare bones elite visa.
Really that simple and he stated that it was as such
Great value. 5 years in Thailand is priceless
Any visa you get have to pay Thai tax if you become thai tax resident ( >180 days reside in thai) ....I think that thai gov.have different departments ( Immigration,BoI ,Elite ???)to issue you a Visa but they did not deal with the Tax Department about the tax issue ...😂😂😂
So .....😂😂😂 No clear promise that you have an exemption on Tax ...
wrong. the LTV visa has tax exemption
@Vishypoo Who cares?? It showed it has the tax exemption for foreign income in their Web pages ....But the actual situation has been proof or not ?? 😏
@@VishypooTax Exemption for overseas income only ......but need to be verified first .....is there any conflict between BOI and Tax Department ??
Way too expensive, its only for Hoity Toity's.
Elite new price is a big scam. Just get the DTV or the LTR if you have the means.
You need an Elite visa minimum for many administrative reasons. If you want to send kids to international school etc
@@Jinke888 LTR you can do same. The only Elite worth it was the previous 20 years at 1M.
@magicfire1 my uncle has the lifetime elite, bought it when it first came out. That would be amazing
@@Jinke888 Lifetime was as no brainer definitely.
And if you aren’t in your underwear 50?
Every old person goes straight to retirement visas without understanding that if you aren’t old this isn’t an option
Better go malaysia-l
Vietnam is far better than Thailand, best way to retire in SE Asia is to spend a few months here and a few months there!
True, but Vietnam's visa situation is blah.
Still garbage - everyone switching to DTV for free
Shorter videos mate.