Love your work, keep it up! Currently in my final year of high school, but would be looking to be a digital nomad over in Thailand in the coming years. Your videos are so helpful and they're good motivation for me, too. Thanks!
Thank you as always your content is very insightful and helpful. This gentleman very kind to offer his experience and this Visa seems the best 🙏🏻Best on your move, remain blessed 🙏🏻
I was comforted to hear from the BOI representative in your earlier video that if there is some opaqueness in trying to prove $80,000 of current passive income (like maybe some income doesn't show up on the tax return) that they will look to total account assets (IRA, 401(k), brokerage account assets or just cash in the bank) to see if the applicant has liquid assets to last for 10 years. I think that's fair and flexible. In the USA income from an IRA or 401(k) is whatever the individual decides to withdraw (and this what is reported on the tax return). The actual income realized may be higher or lower than what is withdrawn from the account for tax purposes.
So glad you’re going to live in Samui as so are we hopefully next year so will be hounding you for information on residential areas to live, how each area differs and much more 😊
You can get the visa stamp in your own country. Your video is great. I applied earlier in the year. I was turned down because I did not have the passive income record since I retired in September 2023. My income was over $600,000 which didn't matter. I have the income now after moving money around, my SS and pension. I have an agent working on it for me. I paid much less than 85,000bht.
Regarding the insurance...I had the same issue, the BOI wouldn't accept my Blue Cross. However, if you send them a bank statement showing that you have had $100k in a US account for the past 12 months, you can substitute that and don't need health insurance. Easy peazy! Forget spending the money on an agent, they are crazy expensive. If you are competent enough to fill out a simple application form, you can do this. It's all in english and if you have any questions the BOI replies to emails usually the same day you send them. I did it with an evisa from the US and while there was a lot of back and forth with them which took about 2 months, it was easy. The most confusing part (and it's not that confusing in retrospect), was when the BOI approved me I didn't realize I needed to apply separately with the evisa showing them the approval from the BOI. Totally worth it. Does anyone know what the fast tracking benefit is at the airport?
In my opinion if you are in your home country over 50 enter Thailand on an O non immigrant visa it allows you to move onto just about most visa's on offer in the country.The multiple entry one year visa seems to be available again.
Pensioner LTR visa was easy to get, no agent needed as long as you have your documents and insurance in place, meet the qualifications, it was no problem. They answer the phone if you have questions as well as respond to email. I too had to buy the throw away insurance policy, but it was worth it to me because I think this is the best visa for me.
I was told by a Bangkok based law firm that is acting as an agent that for married US citizen filing a joint US tax return ("married, filing jointly" ) and using the return as proof of income that the income level would be $160k not $80k. This included even if wife was Thai. Has anyone else heard this?
@@tedosmond413Obviously English is not your first language. 😂 Joint??? Joint tax return??? You are saying to the Thai Government agency that this is evidence of wife's income and my income. They are saying OK but joint income means that we assume a 50/50 split. Why are not lodging separate tax returns? You could simply provide the evidence upon which you calculated the tax return. In fact that is better evidence than the tax return as the tax is based on that evidence.
This is very helpful. When I move across, I will go for the LTR as can't be bothered with the 90 day reporting, you get 10 (well 5?) years, and the tax advantages work well. Cheers. 👍
Did it myself also , it was combersome because of the website can be clunky when you fill out your information. But if you have any question what the Boi needs to advance to next step, i emailed them or DM on Facebook for clarity of what information they needed to proceed on you LTR application. They usually replied back with in 24 hours , most of the time less than that and process moved a head. Overall my experience was great .
Hi Chris, thanks for your nice video. I already did my LTR visa 1,5 years ago and I agree that this is the best visa you can get. Not only for tax reasons but also to avoid the 90 day reporting. I also did it without an agent... to be honest, as I was one of the very first onwa, it was a bit time consuming but successful in the end.... Greetings from Bang Saen Chris
Hi, i applied for same category yesterday and today, status already changed to "Consideration by Government Agencies". How long the rest of the process can take? official statement is 20days. also, any heads-up?
@@MrSean03839 lol. If you are not aware, your head is fairly firmly up your posterior. Cost overruns, overcrowded ER’s, losing the best physicians and nurses en masse, family doctor shortages, inadequate space in med schools, wait times of months for surgery or cardiac care. The only Canadian who isn’t aware, seems to be you
Thank you, Dennis, for sharing your experience. I understand why he doesn't want to be on camera, given the scrutiny and mean attitude of people on the internet, especially toward people with (much) younger Thai partners. And if he likes to spend money at N.P. then... well. 😁
Danish guy here. Yes we are paying up to a little over 50% taxes. A normal tax rate is around 40%. All depends on how much money you make. What company does your friend work for? I work in IT and would probably like to move to Thailand.
But in Denmark, you get something for your taxes and social security. In Thailand, you get nothing, and you have almost no rights. That's something to consider.
Chris, would love for you to do a video on the Investor Visa that leads to Thai Permanent Residency. The investment amount is 50% less than the wealthy global citizen category for the LTR visa.
My guess about the insurance is that there are thousands of insurance companies on the planet with hundreds of different products. Thai Immigration does not have the money, time, people to go through thousands of different insurance policies (which are changing on a continuous basis) written in 10s of different languages to check if they comply with the Thai laws. Easier just to have a dozen or so, that have been checked. Alternatively, the insurance companies have checked the insurance policies against the Thai law and certify that the particular policy complies with the Thai laws hence the certificate issued by the insurance company.
They need to update the ltr as no hassle no frills visa. Bring it to about 8k or less and done. Otherwise it sounds like a hunk of shirt for the majority Chris
It's always that damn money and insurance thing...! I wish that you chose the witness protection interview format. That would have been great. Good nonetheless. I hope the Thai Government is watching your videos and taking notes. Don't worry and be happy in Koh Samui ;-)
Fantastic as usual CHRIS! "HEY BUD, When are you moving to Thailand..... 555! The first Visit is planned for January/February 2025... KOH Samui, Hua Hin, Hat Yai, Chiang Mai, and a short stopover in Bangkok and Pattaya! 59 days should be enough time for the time being, but which visa do I need to get if I am considering a return trip later in the year, A MULTI visit Visa? Chris, you need to get on the Thailand Tourism PAYROLL; if not for you, I would not even consider visiting Thailand... I M Mike from Spokane WA
Thank you for the information. I am curious, how many years worth of "proof of income" are required? You mentioned you submitted 2 years. At any given time, a person could potentially sell stock, etc to meet the $80k passive income for one year (or 2 as needed), then just bank those funds and use as needed over the 5 years. Rinse and repeat. Not sure if this is possible or not.
I Chris, I started my application, I’m good to go with $80K, I’m from the States, I SSDI and VA disability 💯P&T. Do how I show my medical insurance and what are some good options to buy a plan? Love the channel and keep it coming.😢
Your guest may have made an incorrect statement. You are tax exempt from your overseas income. The LTR visa does not address if you will get taxed on overseas income you bring into the country. Those are 2 separate issues. The Thai government will not go after your global income outside of Thailand but it may be that they go after money that you bring into Thailand.
I am a Danish early retiree and have about 2050 $ paid out per month before tax I have 2963$ if I work a little I first pay 8% in labor market contributions (tax) then I pay 39% tax on the rest. If my annual income before tax exceeds $ 12512, an additional 30% tax is added, so if I earn over $ 12512 per year I pay 77% tax on everything above $ 12512
Hi Chris, ABSOLUTELY LOVE your show on TH-cam. My wife and I decided to retire in Thailand mainly because of you! Just watched your latest TH-cam video on the LTR Visa. I tried to get an LTR Visa because we make $45,000 in pensions as of Jan 1, 2024, and we own a condo worth $251,000 in Chiang mai. We applied for the LTR Visa and got RFI’s about our income from the LTR Visa folks. We got disapproved because we think my Veterans Administration disability not showing up on my 1040 as taxable income is the problem proving I make 40k a year. I really don’t think the Thai government understands my VA disability is non-taxable and will NOT show up on my 1040. Should we get an agent and if so, who do you recommend? R/ Mac
This is the type of financial "complication" that I think may benefit from the help of a lawyer. However, a lawyer will cost something. Normally people retire in Thailand using a non-immigrant O visa, extend yearly, and deposit money in a Thai bank.
Did you ask someone at BOI what the problem was? It sounds like you're assuming a lot without having received a clear answer about what exactly the issue was. It could be the type of real estate you own as well.
Because of your unique non taxable income of veteran disability, maybe communicating with the BOI office in person could clarify your situation? Prepare to walk the BOI through your documents. Dress well, speak politely, and be humble. I think your obstacle is your disability income doesn’t display on your tax form. What is the best (acceptable) proof you can bring to BOI that they are willing accept? Bottom line is they want to make sure you have the required amount. Figure out how you can persuade BOI. (Not talking about bribery.) Best wishes.
I'm eyeballing the Work from Thailand Professional or the Highly Skilled Professional versions of the LTR visa. Any idea how strict they are with the company requirements? I work for a small biomed company in the US.
You are not paying the BOI. You go to Immigration across the hall. You pay immigration over there. Paying by bank transfer was Immigration's requirement.
The LTR office says that I can pay in cash since I do not have a Thai Bank account yet, given that I cannot have a bank account without the proper visa. My LTR visa is approved and probably will be issued in a few days.
I think that many people will switch from the Thai Wife visa to the LTR wealthy pensioner visa. I wonder if immigration will change the tax status of those on the Thai wife visa to match the LTR visa.
Even I as a pen pushing public servant know that you don't own the business. You own shares in a company. The company conducts activities that constitute business activities. The company makes a profit and it distributes dividends to the shareholders.
I think an agent would cost much less than $900 and would have sorted the insurance requirement considering he already had it. Isn't that why some suggest an agent, to spare the headaches and save on the cost?
How would it sort out the insurance? My guess about the insurance is that there are thousands of insurance companies on the planet with hundreds of different products. Thai Immigration does not have the money, time, people to go through thousands of different insurance policies written in 10s of different languages to check if they comply with the Thai laws. Easier just to have a dozen or so, that have been checked.
Is Koh Samui having water crisis periodically? Due the this i most prob chosing to go go phuket. I wamt to be where more healthy people are phuket is quite this culture
You have a great channel but this video left me with a couple of big questions as does every immigration video that I have seen. Do the LTR visa requirements double for a married couple? You voice guest said that he at 77 found Thai insurance. My wife is 84 with a back issue that restricts how far she can walk. I am 79. I am much more active than most my age but I have a stent and take thyroid medication. When I shopped insurance for the Portuguese Golden Visa a number of years ago, I was looking at $1300 per month. I thought Thai Insurance was not available I was not under 65 when I applied. What insurance did your guest buy. We will keep our US Medicare (sh*t healthcare) as a backup but we are pretty sure we can afford to self-insure in Thailand or Malaysia. Could you do a video on health insurance for us young really old people. Thanks
Regarding the LTR visa insurance requirement - you can satisfy the insurance requirement by having $100,000 in a bank account. I’m pretty sure it can be a bank account in your home country. I do not know how they treat spouses. I’m not sure if the spouse also has to have $100,000 in the bank. Alternatively you can retire in Thailand using a nonimmigrant O visa and no insurance is required. There are other financial requirements for the O visa.
@@saildale While I first visited Thailand as a tourist I made a side trip to Malaysia. I went with a friend to Kuala Lumpur and Kuching, Borneo. It was a great tourist trip but it didn’t make me want to retire there. I thought KL would be boring in the long term. I never seriously looked at the visa requirements. It could be an option for some people. There are a couple of TH-cam channels promoting Malaysia. English is more widely spoken.
The first LTR review is after 5 years. You reapply but you don’t pay any additional fee. At the end of 10 years you start again. Apply and pay the 50,000฿ fee. The LTR has been available for less than 2 years. No one knows what will really happen 5 or 10 years from now.
Is the DTV official? It brings up the following question. I might be naive but I was convinced that Digit nomad teachers could teach online with other countries like China on a retirement visa. If the case, DTV asap....
You can’t get a work permit on a retirement visa. You are not supposed to work without a work permit. Working online surreptitiously was a grey area. Don’t advertise it. Don’t get caught. Now digital nomads have the DTV.
Dennis' circumstances an my own appear to be quite similar - 77 years old, much younger Thai wife, long time living in the USA (20 years for us), but now leaving the US to live in Thailand. I'm very curious to know, if Dennis will share the information, what insurance company Dennis used for the "throw-away" health insurance. I have found only 2 companies, acceptable to the Thai immigration authorities, that will insure people over the age of 75, and the premiums are high - hardly "throw-away".
My international health insurance from IMG Global issued through ALC was accepted by LTR. So no "throw-away" insurance needed. This insurance will cover to over 80 years old. My LTR visa has just been approved.
@@karlyap3011 Thank you, I will look into IMG. To clarify my position, though, I have more than B2,000,000 dedicated soley to paying health costs so I'm really not interested in paying premiums for health insurance that I don't need. So, like Dennis, I'm looking for insurance with the lowest possible cost for the sole purpose of meeting the insurance requirement of the LTR.
Hi Chris, I'm currently applying for an LTR as a professional expert. Going through an agent but the fee is around 800 USD, i work for a US company with annual revenue over 2 billion USD an NY stock exchange listed and I have a PhD. My question is, are my family also covered under the visa? My wife is Laos and my daughter is Australian and are currently covered under the guardian/education visas.
I traveled to Thailand on a 90-day visa and applied for a retirement visa in 2012. I didn't need an agent. I applied for my LTR visa online, following the BOI website instructions. Everything was smooth as silk due to the accommodating and professional staff! There is no 90-day reporting! Schemes to tax pensioners earning over $80,000 USD a year and spending that or more a year in Thailand is simply ridiculous.
If you mean the Destination Thailand Visa then yes it is available at Thai consulates abroad. Several people a day have been posting that they have gotten the visa already.
There are 4 categories of LTR visa. Retirement LTR (over 50) is one of them. The LTR and the DTV are different. Different requirements. Different benefits. The DTV seems to put into question the 5 year Thai Privilege visa the most because of the huge cost differences. Typically people use a non-immigrant O visa for retirement.
sheeeeeeeeeeeesh.. so much info in every video. still dont know which one is best for me. seems the tax exemption is the way to go tho cause like.. who wants to pay taxes twice??
The BOI should just issue an approval but the embassy has to issue the actual visa based on the BOI approval. Did you not get an approval confirmation form?
I was told by a Bangkok based law firm that is acting as an agent that for married US citizen filing a joint US tax return ("married, filing jointly" ) and using the return as proof of income that the income level would be $160k not $80k. This included even if wife was Thai. Has anyone else heard this?
No. I file a joint US tax return and I have a Thai wife. I submitted my tax return to apply for a pensioner LTR and all that was required was that I have a gross passive income of $80,000. I got my pensioner LTR in January, 2023.
@@martypoll Thanks for responding. How many years of returns did you need to file? Also, I haven't filed my 2023 return yet. Hoping to use 2021 and 2022.
@@tedosmond413 in October 2022 they only asked for 1 year. In 2023 they changed it to two. I think you will need to submit the last two full year tax returns. I can’t say if skipping 2023 will work.
I heard it was 18 months of reporting Info and 80K yearly total passive (1099) for the LTR-WP and the spouse an kids are free riders that don't require their own financials.
@@steveb7600 It is going to be however many years of tax information they want to see. You just have to apply and see what happens. It has been more than 1 year of tax returns for quite a while.
For me they asked for two years of tax returns but once submitted, they only asked follow up questions and documentation requests on the latest year return.
Your wife will be a dependent under your LTR visa qualified on the $80k passive income. Her visa will cost also 50,000 baht. Since my wife is Thai, I don't have this issue.
@@CJ-Photo They count social security, IRA distribution, including Roth conversion and passive income. Perhaps one may consider doing some IRA conversion to meet the income requirement.
Since my insurance was only valid 6 more month (10 are required) i had to show a bank statement with minimum US $ 100 k and then I obtained thr LTR Visa.
He says he doesnt need to pay tax on this visa, but the government itself says you need to pay 17% and then recently we found in another of your videos that we will be charged on worldwide income...
The BoI web site page for the LTR visa says "17% Personal income tax for Highly-skilled professionals". That is not the LTR category that this person applied for. This person applied for the Wealthy Pensioner category. "Tax exemption for overseas income" says the BoI web site. Be careful to distinguish between the different requirements for the different types of LTR visa.
Love ya Chris. Great videos. I was hoping to join you on Samui. Wife has convinced me to stay in Khon Kaen. So much more for the dollar and we will visit Samui on holidays. Better place to start a company in Thailand. I could never live in Bangkok, I would go to hell for sure
the response time from Imm has been excellent. I am just starting the process. The first bank I went to had no govt bonds for sale. And since my income is mostly from stocks and bonds, it is not consistent. I can earn way over the $80k one year and even lose a small amount the next. I will keep working at it soon, but Imm has been very helpful.
Can't BOI recommend you a bank and contact? Krungsri does for sure, especially the Krungsri Government Bond RMF. Alternatively, check with the PDMO. Bangkok Bank also offers a specific ”government bond account,” but I don't like dealing with BKK Bank, as it is very archaic in structure and processes.
They are so out of touch about A) How many people earn that amount of money B) How many of them want residency in Thailand. Good thing they decided to implement the DTV
There are a couple of thousand of us with LTR's. That is far below the original target goals but so what? They are very explicit about labeling LTR's as being targeted toward wealthy expats. Why would we want to live here? Because our money goes further here too and Thailand is a nice place to live.
They have nearly 5000 applications so far. How many make $80k USD? Millions. And how many want to move to Thailand? Apparently not a huge number, but where else would you want to go as a comparable
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
Love your work, keep it up! Currently in my final year of high school, but would be looking to be a digital nomad over in Thailand in the coming years. Your videos are so helpful and they're good motivation for me, too. Thanks!
Thank you as always your content is very insightful and helpful. This gentleman very kind to offer his experience and this Visa seems the best 🙏🏻Best on your move, remain blessed 🙏🏻
This interview is GOLD!
I was comforted to hear from the BOI representative in your earlier video that if there is some opaqueness in trying to prove $80,000 of current passive income (like maybe some income doesn't show up on the tax return) that they will look to total account assets (IRA, 401(k), brokerage account assets or just cash in the bank) to see if the applicant has liquid assets to last for 10 years. I think that's fair and flexible.
In the USA income from an IRA or 401(k) is whatever the individual decides to withdraw (and this what is reported on the tax return). The actual income realized may be higher or lower than what is withdrawn from the account for tax purposes.
already here ! however big ups for your work & the channel Chris , tremendous content with a real cool delivery & vibe
So glad you’re going to live in Samui as so are we hopefully next year so will be hounding you for information on residential areas to live, how each area differs and much more 😊
You can get the visa stamp in your own country. Your video is great. I applied earlier in the year. I was turned down because I did not have the passive income record since I retired in September 2023. My income was over $600,000 which didn't matter. I have the income now after moving money around, my SS and pension. I have an agent working on it for me. I paid much less than 85,000bht.
jeez income 600k or more yearly, you are pimping big time in thailand!
Good to know! Could you share the agent data? Still wondering if it is easier to do in the states first.
great work Chris..thanks
GREAT INTERVIEW!!!!! Thank you!
That’s was super informative for anyone interested in stepping up their visa status!
Regarding the insurance...I had the same issue, the BOI wouldn't accept my Blue Cross. However, if you send them a bank statement showing that you have had $100k in a US account for the past 12 months, you can substitute that and don't need health insurance. Easy peazy! Forget spending the money on an agent, they are crazy expensive. If you are competent enough to fill out a simple application form, you can do this. It's all in english and if you have any questions the BOI replies to emails usually the same day you send them. I did it with an evisa from the US and while there was a lot of back and forth with them which took about 2 months, it was easy. The most confusing part (and it's not that confusing in retrospect), was when the BOI approved me I didn't realize I needed to apply separately with the evisa showing them the approval from the BOI. Totally worth it. Does anyone know what the fast tracking benefit is at the airport?
Great info Chris! Have a great day! 😊
In my opinion if you are in your home country over 50 enter Thailand on an O non immigrant visa it allows you to move onto just about most visa's on offer in the country.The multiple entry one year visa seems to be available again.
been waiting for something like this for so long and its really swung me to live in Thailand instead of other options in that part of the world!
Pensioner LTR visa was easy to get, no agent needed as long as you have your documents and insurance in place, meet the qualifications, it was no problem. They answer the phone if you have questions as well as respond to email. I too had to buy the throw away insurance policy, but it was worth it to me because I think this is the best visa for me.
I was told by a Bangkok based law firm that is acting as an agent that for married US citizen filing a joint US tax return ("married, filing jointly" ) and using the return as proof of income that the income level would be $160k not $80k. This included even if wife was Thai. Has anyone else heard this?
@@tedosmond413Obviously English is not your first language. 😂
Joint??? Joint tax return???
You are saying to the Thai Government agency that this is evidence of wife's income and my income.
They are saying OK but joint income means that we assume a 50/50 split.
Why are not lodging separate tax returns?
You could simply provide the evidence upon which you calculated the tax return.
In fact that is better evidence than the tax return as the tax is based on that evidence.
@@somluck2813 Thank you for your comment. I think it is wonderful you feel comfortable commenting. Thanks again.
@@somluck2813 'Why are not lodging separate tax returns? ' English doesn't appear to be your first language either!
@@PK-nm8wu you don’t actually even need insurance. Just show $100k deposit somewhere
This is very helpful. When I move across, I will go for the LTR as can't be bothered with the 90 day reporting, you get 10 (well 5?) years, and the tax advantages work well. Cheers. 👍
Did it myself also , it was combersome because of the website can be clunky when you fill out your information. But if you have any question what the Boi needs to advance to next step, i emailed them or DM on Facebook for clarity of what information they needed to proceed on you LTR application. They usually replied back with in 24 hours , most of the time less than that and process moved a head. Overall my experience was great .
Thank you, I am thinking of doing it myself for the LTV-WP but concerned it would be too confusing.
Same experience as me. Website is a bit clunky but it worked ok. Process followed the timeline outlined by the BOI
Greetings from Bangkok! Just landed last night. Got my 60 day stamp as well as an American.
Thank you for suprb content, Chris! Please recommend best areas in Samui for winter stays.
“I’m not gonna tell you where he spends his money, but the initials are N.P.” This had me dying! I think the other initials are S.C. 😂😂😂
Make a video about the digital nomad visa please.
Hi Chris, thanks for your nice video. I already did my LTR visa 1,5 years ago and I agree that this is the best visa you can get. Not only for tax reasons but also to avoid the 90 day reporting. I also did it without an agent... to be honest, as I was one of the very first onwa, it was a bit time consuming but successful in the end.... Greetings from Bang Saen Chris
which category did u get? the wealthy person, i was wondering is it show 1mil in assests AND 80k passive income or just1 of those is enough do u know?
@@DarkoFitCoach I got the LTR T Visa - Work from Thailand . The WFT requires only 80k income.
@@Chris-vi4ps thats great. Its for 10yrs i believe and it excempts u from income tax. Perfect visa
Hi, i applied for same category yesterday and today, status already changed to "Consideration by Government Agencies". How long the rest of the process can take? official statement is 20days. also, any heads-up?
Excited to be on my way to retire on Samui mid August from Canada 🇨🇦 ❤
Will there be any Canadians left in Canada? It must absolutely suck
@@mactravel112
Great country, great health system which can always be returned to, but long winters.
@@MrSean03839I would say overall, it’s a mediocre country, not in my top 60 so far and a failing health care system. Not impressive at all
@@mactravel112 Failing healthcare system, that is news to the Canadians? Lol!!!!
@@MrSean03839 lol. If you are not aware, your head is fairly firmly up your posterior. Cost overruns, overcrowded ER’s, losing the best physicians and nurses en masse, family doctor shortages, inadequate space in med schools, wait times of months for surgery or cardiac care. The only Canadian who isn’t aware, seems to be you
Thank you, Dennis, for sharing your experience. I understand why he doesn't want to be on camera, given the scrutiny and mean attitude of people on the internet, especially toward people with (much) younger Thai partners. And if he likes to spend money at N.P. then... well. 😁
Listen carefully - Chris' friend with the LTR visa who might spend his money at NP is not the person Chris interviewed for this video.
Danish guy here. Yes we are paying up to a little over 50% taxes.
A normal tax rate is around 40%. All depends on how much money you make.
What company does your friend work for? I work in IT and would probably like to move to Thailand.
But in Denmark, you get something for your taxes and social security. In Thailand, you get nothing, and you have almost no rights. That's something to consider.
Not for lot of people....
What happened to SMART visa is that visa program still running?
That was good.
I went with Khun Boyd at Star Visa because he was authorized by the government and I didn’t have the time to do it myself.
my understanding also is that after 5 years you have to show that you kept up with the insurance requirements, having insurance every year.
After 10 years do you have to pay again and start the entire process over or does it keep renewing every 5 years until you die?
Chris, would love for you to do a video on the Investor Visa that leads to Thai Permanent Residency. The investment amount is 50% less than the wealthy global citizen category for the LTR visa.
Visiting The North Islands in Lampang that's hidden gems
My guess about the insurance is that there are thousands of insurance companies on the planet with hundreds of different products.
Thai Immigration does not have the money, time, people to go through thousands of different insurance policies (which are changing on a continuous basis) written in 10s of different languages to check if they comply with the Thai laws.
Easier just to have a dozen or so, that have been checked.
Alternatively, the insurance companies have checked the insurance policies against the Thai law and certify that the particular policy complies with the Thai laws hence the certificate issued by the insurance company.
@@somluck2813 you don’t actually even need insurance for LTR. Just $100k in a bank somewhere
Can you explain more details about income qualification please? Thanks
thanks for the info!!
They need to update the ltr as no hassle no frills visa. Bring it to about 8k or less and done.
Otherwise it sounds like a hunk of shirt for the majority Chris
If I buy 2 villas in Koh Samui which I plan on doing, as a foreigner am I able to rent one of them out as a taxable income?
It's always that damn money and insurance thing...! I wish that you chose the witness protection interview format. That would have been great. Good nonetheless. I hope the Thai Government is watching your videos and taking notes. Don't worry and be happy in Koh Samui ;-)
Fantastic as usual CHRIS! "HEY BUD, When are you moving to Thailand..... 555! The first Visit is planned for January/February 2025... KOH Samui, Hua Hin, Hat Yai, Chiang Mai, and a short stopover in Bangkok and Pattaya! 59 days should be enough time for the time being, but which visa do I need to get if I am considering a return trip later in the year, A MULTI visit Visa? Chris, you need to get on the Thailand Tourism PAYROLL; if not for you, I would not even consider visiting Thailand... I M Mike from Spokane WA
Hi Chris I would love to Retire in Thailand what do I need to do thank you , Clive
Thank you for the information. I am curious, how many years worth of "proof of income" are required? You mentioned you submitted 2 years. At any given time, a person could potentially sell stock, etc to meet the $80k passive income for one year (or 2 as needed), then just bank those funds and use as needed over the 5 years. Rinse and repeat. Not sure if this is possible or not.
Do you have to coordinate expiry of current visa with issue of new LTR visa?
I Chris, I started my application, I’m good to go with $80K, I’m from the States, I SSDI and VA disability 💯P&T. Do how I show my medical insurance and what are some good options to buy a plan? Love the channel and keep it coming.😢
Your guest may have made an incorrect statement. You are tax exempt from your overseas income. The LTR visa does not address if you will get taxed on overseas income you bring into the country. Those are 2 separate issues. The Thai government will not go after your global income outside of Thailand but it may be that they go after money that you bring into Thailand.
I am a Danish early retiree and have about 2050 $ paid out per month before tax I have 2963$ if I work a little I first pay 8% in labor market contributions (tax) then I pay 39% tax on the rest. If my annual income before tax exceeds $ 12512, an additional 30% tax is added, so if I earn over $ 12512 per year I pay 77% tax on everything above $ 12512
I second the request about LTR for a video specifically about the digital nomad visa please. With someone who has gotten one.
Hi Chris, ABSOLUTELY LOVE your show on TH-cam. My wife and I decided to retire in Thailand mainly because of you! Just watched your latest TH-cam video on the LTR Visa. I tried to get an LTR Visa because we make $45,000 in pensions as of Jan 1, 2024, and we own a condo worth $251,000 in Chiang mai. We applied for the LTR Visa and got RFI’s about our income from the LTR Visa folks. We got disapproved because we think my Veterans Administration disability not showing up on my 1040 as taxable income is the problem proving I make 40k a year. I really don’t think the Thai government understands my VA disability is non-taxable and will NOT show up on my 1040. Should we get an agent and if so, who do you recommend? R/ Mac
This is the type of financial "complication" that I think may benefit from the help of a lawyer. However, a lawyer will cost something. Normally people retire in Thailand using a non-immigrant O visa, extend yearly, and deposit money in a Thai bank.
Did you ask someone at BOI what the problem was? It sounds like you're assuming a lot without having received a clear answer about what exactly the issue was. It could be the type of real estate you own as well.
Because of your unique non taxable income of veteran disability, maybe communicating with the BOI office in person could clarify your situation? Prepare to walk the BOI through your documents. Dress well, speak politely, and be humble. I think your obstacle is your disability income doesn’t display on your tax form. What is the best (acceptable) proof you can bring to BOI that they are willing accept? Bottom line is they want to make sure you have the required amount. Figure out how you can persuade BOI. (Not talking about bribery.) Best wishes.
@@martypoll
I think you mean the "OA" visa, that is the one that is good for one year.
@@MrSean03839 The extension for both the O and OA is 1 year and requires a bank deposit.
In answer to your last question...October the 7th :) Woo Hoo Surat Thani here we come.. See ya on Samui :)
If you don't qualify for LTR or DTV what is the best visa to obtain if I want permanent residency in Thailand
Great........... if you have the money.
Yes, only for the wealthy. Have heard Thailand is aiming to gentrify the country as a whole. Show me the money! lol 😜
I have the LTR and know 5 others that have it, none of used an agent
I have applied too but it is showing “final reviewing” for 10days already. Do you know how long it takes for next step?
This may be a stupid question but how hard is it for a US citizen to get a job at the consulate in Chiang Mai or is it impossible?
Hi Chris, I am 50 years old but am not getting a pension until 57. I like to move within 2-3 years. How do I go about?
I'm eyeballing the Work from Thailand Professional or the Highly Skilled Professional versions of the LTR visa. Any idea how strict they are with the company requirements? I work for a small biomed company in the US.
I am surprised that the BOI wouldn't take cash. Besides a bank transfer, what are the ways that they will accept payment?
You are not paying the BOI. You go to Immigration across the hall. You pay immigration over there. Paying by bank transfer was Immigration's requirement.
@@martypoll I paid in cash. At that time, it was cash or bank transfer only. That was mid-March.
This stops fraudulent pocketing of cash, its not surprising at all considering what happens.
The LTR office says that I can pay in cash since I do not have a Thai Bank account yet, given that I cannot have a bank account without the proper visa. My LTR visa is approved and probably will be issued in a few days.
I think that many people will switch from the Thai Wife visa to the LTR wealthy pensioner visa. I wonder if immigration will change the tax status of those on the Thai wife visa to match the LTR visa.
Once you get the visa your tax status will change. You will still be liable for the portion of the first year in which you were on the old visa.
Does anyone know if the retirement income requirement is pre tax? And would there be any issues with the dividends coming from a business you own?
Pre tax
Yes pre tax and dividends and cap gains can be used as income as long as they show on your personal tax return.
Even I as a pen pushing public servant know that you don't own the business.
You own shares in a company.
The company conducts activities that constitute business activities.
The company makes a profit and it distributes dividends to the shareholders.
I think an agent would cost much less than $900 and would have sorted the insurance requirement considering he already had it. Isn't that why some suggest an agent, to spare the headaches and save on the cost?
How would it sort out the insurance?
My guess about the insurance is that there are thousands of insurance companies on the planet with hundreds of different products.
Thai Immigration does not have the money, time, people to go through thousands of different insurance policies written in 10s of different languages to check if they comply with the Thai laws.
Easier just to have a dozen or so, that have been checked.
Is Koh Samui having water crisis periodically? Due the this i most prob chosing to go go phuket. I wamt to be where more healthy people are phuket is quite this culture
You have a great channel but this video left me with a couple of big questions as does every immigration video that I have seen. Do the LTR visa requirements double for a married couple? You voice guest said that he at 77 found Thai insurance. My wife is 84 with a back issue that restricts how far she can walk. I am 79. I am much more active than most my age but I have a stent and take thyroid medication. When I shopped insurance for the Portuguese Golden Visa a number of years ago, I was looking at $1300 per month. I thought Thai Insurance was not available I was not under 65 when I applied. What insurance did your guest buy. We will keep our US Medicare (sh*t healthcare) as a backup but we are pretty sure we can afford to self-insure in Thailand or Malaysia. Could you do a video on health insurance for us young really old people. Thanks
Regarding the LTR visa insurance requirement - you can satisfy the insurance requirement by having $100,000 in a bank account. I’m pretty sure it can be a bank account in your home country. I do not know how they treat spouses. I’m not sure if the spouse also has to have $100,000 in the bank.
Alternatively you can retire in Thailand using a nonimmigrant O visa and no insurance is required. There are other financial requirements for the O visa.
@@martypoll Did you also look at Malaysia before choosing Thailand?
@@saildale While I first visited Thailand as a tourist I made a side trip to Malaysia. I went with a friend to Kuala Lumpur and Kuching, Borneo. It was a great tourist trip but it didn’t make me want to retire there. I thought KL would be boring in the long term. I never seriously looked at the visa requirements.
It could be an option for some people. There are a couple of TH-cam channels promoting Malaysia. English is more widely spoken.
@@martypoll thank you for taking the time to reply. I really appreciate it
LTR-WP does not double requirements for a spouse, you get dependents as free riders on your visa
Can the LTR visa be renewed after the 10 years? If yes, do you know the cost for that?
The first LTR review is after 5 years. You reapply but you don’t pay any additional fee. At the end of 10 years you start again. Apply and pay the 50,000฿ fee.
The LTR has been available for less than 2 years. No one knows what will really happen 5 or 10 years from now.
Do you have to bring in $80,000/$40,000 into Thailand? or it's just to show them you have that in income overseas?
Is the DTV official? It brings up the following question. I might be naive but I was convinced that Digit nomad teachers could teach online with other countries like China on a retirement visa. If the case, DTV asap....
You can’t get a work permit on a retirement visa. You are not supposed to work without a work permit. Working online surreptitiously was a grey area. Don’t advertise it. Don’t get caught. Now digital nomads have the DTV.
Dennis' circumstances an my own appear to be quite similar - 77 years old, much younger Thai wife, long time living in the USA (20 years for us), but now leaving the US to live in Thailand. I'm very curious to know, if Dennis will share the information, what insurance company Dennis used for the "throw-away" health insurance. I have found only 2 companies, acceptable to the Thai immigration authorities, that will insure people over the age of 75, and the premiums are high - hardly "throw-away".
My international health insurance from IMG Global issued through ALC was accepted by LTR. So no "throw-away" insurance needed. This insurance will cover to over 80 years old. My LTR visa has just been approved.
@@karlyap3011 Thank you, I will look into IMG. To clarify my position, though, I have more than B2,000,000 dedicated soley to paying health costs so I'm really not interested in paying premiums for health insurance that I don't need. So, like Dennis, I'm looking for insurance with the lowest possible cost for the sole purpose of meeting the insurance requirement of the LTR.
Hi Chris,
I'm currently applying for an LTR as a professional expert. Going through an agent but the fee is around 800 USD,
i work for a US company with annual revenue over 2 billion USD an NY stock exchange listed and I have a PhD. My question is, are my family also covered under the visa? My wife is Laos and my daughter is Australian and are currently covered under the guardian/education visas.
@@redddo1 if your LTR application is accepted, your family members can follow. 50k baht for dependents also though
@@mactravel112 many thanks for the reply
I traveled to Thailand on a 90-day visa and applied for a retirement visa in 2012. I didn't need an agent. I applied for my LTR visa online, following the BOI website instructions. Everything was smooth as silk due to the accommodating and professional staff! There is no 90-day reporting! Schemes to tax pensioners earning over $80,000 USD a year and spending that or more a year in Thailand is simply ridiculous.
yes with this visa you are exempt!
Any updates on the new visa?
If you mean the Destination Thailand Visa then yes it is available at Thai consulates abroad. Several people a day have been posting that they have gotten the visa already.
Is LTV visa right one for early retirely? Or DTV could be a option?
There are 4 categories of LTR visa. Retirement LTR (over 50) is one of them. The LTR and the DTV are different. Different requirements. Different benefits. The DTV seems to put into question the 5 year Thai Privilege visa the most because of the huge cost differences. Typically people use a non-immigrant O visa for retirement.
The only LTR Visa with an age requirement is the "wealthy pensioners" which is age 50 +
Yes income tax in Denmark ranges from 44% to 54% (the high rate is hitting any income above USD $84K)… But free healthcare and education in return 🎉
I doubt you will last on Samui. I am not big about any island anywhere
@@lmarcus8697 samui is absolute gold. Fabulous island to live. I think better islands to visit in Thailand, but not liveable. Samui is the one
sheeeeeeeeeeeesh.. so much info in every video. still dont know which one is best for me. seems the tax exemption is the way to go tho cause like.. who wants to pay taxes twice??
I got "approved" for the visa but when it came time to hit final approval button nothing happens...shit website
The BOI should just issue an approval but the embassy has to issue the actual visa based on the BOI approval. Did you not get an approval confirmation form?
@@steveb7600 I am in Thailand so no embassy involved
Does it make sense to pursue an LTR visa if your 5 years out from moving? Is it possible to get it without living there now?
I was told by a Bangkok based law firm that is acting as an agent that for married US citizen filing a joint US tax return ("married, filing jointly" ) and using the return as proof of income that the income level would be $160k not $80k. This included even if wife was Thai. Has anyone else heard this?
No. I file a joint US tax return and I have a Thai wife. I submitted my tax return to apply for a pensioner LTR and all that was required was that I have a gross passive income of $80,000. I got my pensioner LTR in January, 2023.
@@martypoll Thanks for responding. How many years of returns did you need to file? Also, I haven't filed my 2023 return yet. Hoping to use 2021 and 2022.
@@tedosmond413 in October 2022 they only asked for 1 year. In 2023 they changed it to two. I think you will need to submit the last two full year tax returns. I can’t say if skipping 2023 will work.
I heard it was 18 months of reporting Info and 80K yearly total passive (1099) for the LTR-WP and the spouse an kids are free riders that don't require their own financials.
@@steveb7600 It is going to be however many years of tax information they want to see. You just have to apply and see what happens. It has been more than 1 year of tax returns for quite a while.
ltr really good visa
Do they (BOI) require 1 year or 2 years of income documentation?
2 years
I've heard 18 months
For me they asked for two years of tax returns but once submitted, they only asked follow up questions and documentation requests on the latest year return.
@@Mark-yo5ue Hi, Did they ask for separate 1099 forms or monthly statements for your underlying investments or just the 1040 or yearly returns?
@@steveb7600 I my case, December 2022, I submitted my most recent 1040.
Invest 500K in Thai business is not a risky??? Buying Thau Elite is cheaper, safer, despite 90 days reporting duty?
WHAT HAPPEND TO 2500 $ A MONTH IN SS BENEFIT
MP? Ministers in Parliament?
I'll never be able to get this visa. With an estimated retirement income of $65.800 USD, at age 72, I won't make it.
Are we saying that you basically bribe your way into living in Thailand 🇹🇭 ? Buying your way into living there?
@@itguru2037 same as every country. Anyone can bribe their way in. Just some cost more
What if his wife wasn't Thai? Would $80k/year passive income apply to both husband and wife?
Your wife will be a dependent under your LTR visa qualified on the $80k passive income. Her visa will cost also 50,000 baht. Since my wife is Thai, I don't have this issue.
Is it 80k gross or net?
$80k USD gross
@@karlyap3011 if I have to ask that, I'm probably not the wealthy pensioner they are looking for, huh? ;)
@@CJ-Photo They count social security, IRA distribution, including Roth conversion and passive income. Perhaps one may consider doing some IRA conversion to meet the income requirement.
Since my insurance was only valid 6 more month (10 are required) i had to show a bank statement with minimum US $ 100 k and then I obtained thr LTR Visa.
He says he doesnt need to pay tax on this visa, but the government itself says you need to pay 17% and then recently we found in another of your videos that we will be charged on worldwide income...
The BoI web site page for the LTR visa says "17% Personal income tax for Highly-skilled professionals". That is not the LTR category that this person applied for. This person applied for the Wealthy Pensioner category. "Tax exemption for overseas income" says the BoI web site. Be careful to distinguish between the different requirements for the different types of LTR visa.
@jeff5001 thank you!
Love ya Chris. Great videos. I was hoping to join you on Samui. Wife has convinced me to stay in Khon Kaen. So much more for the dollar and we will visit Samui on holidays. Better place to start a company in Thailand. I could never live in Bangkok, I would go to hell for sure
the response time from Imm has been excellent. I am just starting the process. The first bank I went to had no govt bonds for sale. And since my income is mostly from stocks and bonds, it is not consistent. I can earn way over the $80k one year and even lose a small amount the next. I will keep working at it soon, but Imm has been very helpful.
Can't BOI recommend you a bank and contact? Krungsri does for sure, especially the Krungsri Government Bond RMF. Alternatively, check with the PDMO. Bangkok Bank also offers a specific ”government bond account,” but I don't like dealing with BKK Bank, as it is very archaic in structure and processes.
I’m in the same situation. How many years of tax returns are they asking for? Thanks.
@@theamazingjustin2 years
@@theamazingjustin two years, I think.
Does anyone know about the tax exempt aspect? I have not yet asked.
Spending money on ‘MP’ 😂
They are so out of touch about
A) How many people earn that amount of money
B) How many of them want residency in Thailand.
Good thing they decided to implement the DTV
There are a couple of thousand of us with LTR's. That is far below the original target goals but so what? They are very explicit about labeling LTR's as being targeted toward wealthy expats. Why would we want to live here? Because our money goes further here too and Thailand is a nice place to live.
There are A LOT of people with money. Look at the new pricing of the Thailand Elite Visas. They just want to keep the "riff raff" out.
The LTR visa does not offer residency, that is a totally different thing.
They have nearly 5000 applications so far. How many make $80k USD? Millions. And how many want to move to Thailand? Apparently not a huge number, but where else would you want to go as a comparable
@@aeroAdvocate Earning under $80k per year does not make one "riff-raff". This $80k is far above the average salary in the West (excluding the US).
See you in Samui Chris are you going to rent a house
Kohler Gardens
No