New THAILAND VISA is the best ever! WHY?? and tips to obtain it!!
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- Опубликовано: 7 сен 2024
- #thailand #thaivisa #retirment
I recently went through the process to receive the new 10 year LTR visa in Thailand. I will explain the process to apply and tell you all about the benefits of this visa.
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M O R E A B O U T U S
My name is Brian but everyone calls me Greeny. I retired in January of 2020 after working 30 years in Law Enforcement. I wanted to retire young enough to be able to do some of the things I always dreamed about! I knew I wanted to travel extensively and retire somewhere warm and exotic I sampled a ton of places in the Caribbean, Panama, Colombia, Turkey but set my sights on Thailand. In 2020 I met Fai on a Tinder date and we hit it off immediately. We have been inseparable ever since!
I started making videos as a hobby but now it is more like a passion.
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I picked up my LTR visa for wealthy pensioners last week.
I was surprised how easy it was, as long as you meet the prerequisites of course (USD 80K pension/investment income + health insurance). I did not have to deposit any money in Thailand.
Yep. If your ducks are in a row it’s easy!
A lot of people are interested in this LTR visa stuff, I highly recommend Greeny do a part2/follow up on this subject. That will be great.
Definitely!!
Great video. Very easy to follow. I feel a little ripped off that I paid for the 20 year Elite Superiority Extension Visa The main thing like you mentioned is only have to check in with immigration once a year. Like you I travel a lot so, this would be very easy without even really trying.
Yep. I love that Don. I’d be pissed now if I paid for that Elite visa and still had to check in every 90 days
@@GreenyTravels Yeah but the Elite visa has no requirements at all other than the fee 😀
You also get a bunch perks with the elite visa. Discounts many places. I prefer the elite visa.
@@GreenyTravels great vid, im an aussie im 42 yrs old i wanna retire soon, 50 at the latest, can australians get this LTR VISA? should i try and retire to thailand in the next few yrs, or should i wait till im 50 to make it easier?
Are you only looking at Thailand@@petejames1326
Retired and over 50. I applied today from the USA. Hopefully it works. Thanks again for the info man!
My buddy is too. Good luck.
how did it work?
not can IF not have Thai bank account and account have minimum 800 000 baht. i has try make visa in home country, not possiple whitout Thai bank account
@@mattivirta the LTR - P visa was no problem to get. Only $1600 for 10 years and I have never had a Thai bank account.
@@LongRonnybyebye It worked no problem
I am interested in LTR visa and found your video. Very informative. That would be great if you talk more about insurance in second category.
I think things have changed a bit since I got it. Do they still require insurance?
@@GreenyTravels I watched another youtuber and he didn't mention insurance in his video.. It might really changed. But I am not 100% sure.
I could do this in order to get the 10 year visa in Thailand, but here in Mexico I've been living here for over 10 years with no financial requirements, just crossing the border every 6 months. Putting 100K into a Thai bank is risky since the bank could conceivably go under and your money is not FDIC insured in case anything happens. Plus after having lived there and seeing first hand how the Thai banks operate they make it super easy to deposit your money, but if you want to withdraw a substantial amount of your own money, they make it very difficult. There's the Philippines which makes it super easy because there's no financial requirements and you can easily just keep renewing your visa for up to 3 years and then leave the country for one day and return and start over again.
If you get health insurance you don’t need to put 100k in a Thai bank.
It says you can have the money in a foreign bank. It does not have to be in a Thai bank.
@@michaelseabrook8340 That is correct. It can be in any bank, Thai or foreign. It has to be equivalent to $100K USD and held for 12 months.
@@t.q.6639 Ok, I wasn't aware of that. So if someone could show proof of $100K in a U.S. or foreign bank account they can apply for the 10 year visa? Have to show proof of having held that 12 months prior to applying for the 10 year visa? Not necessary to get health insurance then?
@@GreenyTravels How much approximately would health insurance be for someone over 60 there?
Thanks Greeny...FYI I'm retired LE too (32+ years in Calif S.O.).......just received my LTR from the US, was so easy...thanks for all the info....
Awesome. Congratulations
Good one Greeny. great information you really put it out in easy to understand format.
Appreciate it.
Thank you! I am following all of your directions for this now... wish me luck
Good luck. Let me know how it works out.
Aloha Greeny! Thanks so much for your time to explain this. I had only heard rumors about the LTR, so it's really helpful to get the skinny from you as you've been thru it. Since I'm only beginning to make the move in a couple months, I think I'll go for the regular retirement visa to start. I'm reasonably sure I'll want to commit to Thailand long term, but who knows; maybe I'll change my mind and want to exit to elsewhere. Thanks again! Bill
Good place to start. Get your feet wet. Make sure it’s all good before going ahead and paying for the 10 year
Hey Greeny, welcome to the club. Received mine last month. What a relief! I’ve been here for more than fifteen years, and that yearly visit to immigration as well as the 90 day notice are now just a blur from the past. Definitely felt like a VIP in dealing with the wonderful people working at the BOI. Enjoy your retirement!
Congratulations on your LTR! Wow 15 years that's awesome. Do you plan to report to immigration at 1 year, or exit/enter Thailand to re-start the 1 year clock?
I am just retiring now, moving to Thailand, and starting off with an LTR. If I didn't get LTR I would pursue getting an O-A/O retirement visa, and I would appreciate that too. Nothing wrong with O retirement visa, I was prepared for that. But I am grateful the LTR program came in to offer an alternative.
Before Covid, we would always be on the road a few times a year. We haven’t been out of the country since then either. However, I’m looking forward to being able to travel abroad one of these days.
Thanks George. Just traveled to Vietnam. Was great getting the special service at the airport
Thanks for the breakdown, 80G is a lot of income. One thing you can say about Thailand, change is always happening.
Yep. Who know what’s coming next
Thailand changes its policies within a day, or good or bad, just like the covid restrictions on arrival, today yes you need it, tomorrow you don't.
Although a great option. I don't think most retirees actually have these kinds of funds to apply for this Visa. Glad you were able to do it, makes your life much easier. Sounds like a Visa business venture for Thailand to reel in the foreign visitors with money to invest in their country.
Yea. I’m they are definitely looking for investments.
Many thanks for the excellent video! Really love and appreciate your posting.
Thank you!! Appreciate the compliment
Great Video. Greeny is blessed to have proper health insurance that is accepted for this Visa, He is crafty to be able to show the gross income from rental properties | his pension | other investment income in the USA, to meet the 80K requirement. Very wise. I understand he now can avoid the obscene waits that stress out foreigners in the Immigration office in his province. He is "not flexing" but rather pointing out this Visa does pencil out for those who would buy a re-entry permit, annual Visa, and hate to wait for even a simple 90 day report.
Thank you. Lots of people ask about this stuff. So I’m just trying to get the info out there
I have an appointment at BOI in Bangkok for my LTR issuance tomorrow. In addition to social security, you can increase your passive income with IRA distribution or Roth conversion. My $80k passive income is consist of social security, rental income and Roth conversion. I have to submit the last two years of tax returns and 1099s, plus international health insurance with ten months of coverage remaining. However some buy “throw away” health insurance about $700 to $900 to satisfy the requirement.
Great info. I did similar. I’m a few years away from SS but pieced it together
The BEST video yet Greeny. I’ll be doing this. Great info n
Thank you. I appreciate it.
Good job Greeny. Very informative. I have been thinking about this as I have lived the 90 day check in hell for years now.
Seems like a good deal
Thank you for the very informative video. It gives us another option to consider for retiring in Thailand.
Glad it was helpful!
If only benefit is no 90 day reporting, stick with regular retirement visa. It costs peanuts to get an agent to do the 90 day reporting for you, simple.
10 years of retirement visa with multiple entry would cost the same plus paying for agents and dealing with immigration. No thx
50,000 baht for 10 years is $143/year. You have to compare to the yearly cost of paying an agent.
Very interesting G and thanks for posting. Letting farangs work is quantum leap for Thailand, but sadly any dreams we have of becoming a baht bus driver doing the 2nd Rd and Beach Rd circuit are on hold….
Lol. Yep. A career driving here for a living is not an option 😂
Glad to hear this info, glad to see Thailand being progressive with the Visa's, good news. thanks.
Our pleasure!
Great video Greeny, we need to meet up for lunch or dinner soon.
Thank Dave
Very interesting visa. Kind of like a cross between the Non O-A visa and the Elite visa. I'll be 50 next year and am seriously considering this one. Thanks for taking the time to talk about your experience. 👍
No problem. It’s a great option
Ohhh you have money!!! If you can afford this bisa!!@@ 😂😂😂😂😂
Sorry I wanted tell visa!!!!😂😂😂😂😂😂😂😂
Just got my LTR approval this week. Super easy process. The reason I pursued this visa was Greeny’s. Video. I thought if Greeny can do it then Why can’t I! Thanks Greeny. Would be interested to get an update on your post LYR experience. Has it lived up to your expectations?
I love it. In and out of Thailand using the fast track line saves so much time.
@@GreenyTravels thanks Greeny. No issues otherwise? Turned out exactly as you expected so far? I pick up my visa in a few weeks from the consulate in Los Angeles and then off to Thailand…
Yes. It’s awesome
Just for rich folk, unfortunately. I'm happy for those of you who qualify, though. Nice to not have to report every 90 days, which even the Elite visa requires plus annual renewal (even if you pay $30,000 US nonrefundable fee for a 20 year visa), which is ridiculous. But, at least it doesn't require health insurance. I'd love to move to Thailand, but I think the Philippines will get all of my money, instead. I can get permanent residency for only $10,000 USD put into a PH bank (which I can roll into a condo purchase, if I want to) and I can buy their national health insurance for about $300 US/year - if I want to. And, they'll let me work. Anyway, good for those of you who qualify and can afford health insurance. Good luck with that as you get older, though, too. Glad you're happy, though, Greeny.
Appreciate it. One of the many options here but I agree the PH seem easier to deal with.
great video, I did it in November with a nice day trip to BKK. was a little busier in their office, but pretty easy. Unfortunately no special line at the Phuket airport. worry free for the next 5 years.
Yeah. Great deal!!
Congratulations on your LTR. Wow November, you got it quickly after they started applications September 1 2022. No express immigration line at Phuket? Do you think that was temporary situation, or not set up to get LTR visa holders into the right line? BOI webpage says "international airports" and I would think Phuket airport will see many LTR come through immigration there in the future.
@@t.q.6639 I think part of it was that it was too new. At the bank they had to call head office and asked me to come back in a couple of days. When I left Thailand, they had to get 2 managers at immigration because nobody had ever heard of the visa. They only had 2 lines, foreigners and Thai
It is absolutely good to learn about the visa , but I am a retired woman
And not Thai citizens anymore sounds complicated to me. Besides why is it costing so much for a visa.
It sure. Still much cheaper than a visa to USA for a Thai
Been missing you Greeney, I need to watch this again. You had another video about buying a condo. I am trying to find that one.
It’s on my channel.
Our LTR is approved! On our way this summer.
Nice!! Congratulations!!
Great video, just gave it a try but they don't accept Trusts or LLC unfortunately.
Oh. Maybe a draw from the trust
@@GreenyTravels Thanks for the idea but the trust holds our brokerage account and can't sell the holdings to do a draw for tax reasons. Really enjoy the videos, time for one of your true crime stories!
Yo Greeny, that's why I'm still in Florida!, so much B/S for me. Have fun
I understand
Elite visa is better for those who can afford it. I believe it is $17K. No check ins with immigration, tons of extra perks.
That’s wrong. With Elite you have to check in every 90 days. This is once a yea and way cheaper
From Ross in Brisbane . Australia . Great work, Greeny .
Thanks Ross. Appreciate it!
Very rarely do Firings make $80,000 per year. Without working
Definitely not a visa for everyone.
very comprehensive and detailed vid explaining pretty much all it seems................thank you...........
Glad it was helpful!
So I have the LTR Retirement visa. Got it January this year. I come and go to America frequently. I don’t have to report to immigration January 2024 because entry and exit stamps at Bkk airport counts as “checking in” with Thai immigration LTR department? I’m getting conflicting views. Thanks for the video.
Yup. That reentry stamp is your check in.
Excellent. I’ve been getting conflicting information. Think you’re the best source. Cheers 🎉
Hey Greeny,
How long did it take you to get your visa from the day you submitted until it was approved? Thanks
About 2 months.
This would be a great option for the guys here doing RUclips uploads of their lives here. As essentially they are working and in likely breach of their "O" visa class.
Yes. A good option to avoid uncertainty
Great information Brian thank you
Thanks Robert.
Good information Greeny, thank you:)
Glad it was helpful!
When you get a new passport and need stamps transferred, you need to go to the "original" BI office where stamp was issued. Different BI offices will not do it.
I will need a new US passport next year. First they only stamp you in until the last day of your passport. I was told that I have to return to the Bangkok BOI office to have my LTR visa transferred to my new passport. There is an immigration desk right there in the BOI. Then they will stamp me in for the remainder of the first 5 years. After 5 years you reapply but you don’t pay a fee for the remaining 5 years.
Correct. If you have the LTR the BOI will take care of everything. O and OA I don’t know
Just finished the whole video, you got a few things wrong - mainly you do NOT have to have your 100K USD in Thailand. Just demonstrate through statements and a confirmation letter you are liquid enough to pay your health care. I had a high yield savings account. Secondly - for the property requirement you can show a long term lease (like when you lease land for 30 years). So very easy if you have over 40K in dividend or pension and then lease some land and build a house.
Ahh. That’s great info. They don’t really explain thing’s perfect here
Very informative. Thx ! Beats the Elite - visa by far I guess regarding costs. So having 1.000.000 in assets would help also you think ?
Yes. ThT or 80 k income a year
@@GreenyTravels I don't know the meaning of ThT, could it mean that having 1 million USD portfolio and only a very small pension or dividends would be eligible for LTR Visa? Thanks
Elite visa have only big scam, not have any better than LTR or all other visa, same paper work need do ewery year and same 90 day report need do alltime, have big scam and lot blink blink what sure not need newer.
Super useful video! Thank you
Glad it was helpful!
50+ Retirement extension visa, 800,000 Thai baht or equivalent foreign currency deposit a/c, visit immigration 1 time a year for max 1 hour if you make an appointment online, 90 day reporting online, so easy, NOT 100 K FCD !
Don’t need the 800 k with this one.
Still a while off it’s not the same for every nationality in aus it’s pretty easy if you are already married to a thai only 400k baht in a bank no health insurance no police check 🤙🙏🇦🇺🇺🇸🇹🇭🍻
90 days checks ins though and dealing with immigration
Be careful , From August 11, 2021 Thai Baht Deposits are protected under the Deposit Protection Agency Act up to a maximum of one million baht !! 90 day reporting can be done online also !
True
Congratulations. I’ve the same. Love it.
Love the fast track at BKK
One other comment. I know people who lose large sums of money because they do not know how to be a landlord. I will not go into the details but it is not as simple as listing your house with an agent. Beware. This is a tough market in many ways even with high rents. Lots of horrible tenants and high inflation. A bad tenant can cost you tens of thousands of dollars. Thanks for the video.
I have had some terrible tenants too. Back a long time ago. Fortunately my last 2 have been great
Hey Greeny:
I love all your content, you’re very thorough and very patient as well.
I have a question for you ….I’ve been watching your videos for a while now and I might’ve missed it I don’t know . Anyway, I’m from the US and I’m currently collecting Social Security and I’m thinking about moving to Thailand. Will I still be able to collect my Social Security from the US even though I don’t live there anymore.
That could definitely be a game changer of whether you want to move out of the country or not.
Thx.
Scott
Yes. Certain countries you can’t but you can in Thailand. Only downfall is the Medicare doesn’t work here
Great video. Excellent as always
Thank you!! Appreciate it!!
I have an elite Visa and I came to immigration and they did not know what it was and told me it was not a visa to enter Thailand. It took me 45 minutes and missing my connecting flight to get into Thailand. So much for fast track elite visa for which I paid 600.000 baht. When it expires I will go back to O visa. Easier and cheaper.
If immigration didn’t let you in how did you miss connecting flight to Thailand. Where was that they didn’t know what it is ??
@@GreenyTravels Bangkok immigration flight to Chiang Mai. I came from Paris to Bangkok connected on to Chiang Mai. Had 1 and half hours to connect to the next fight.
Really useful info. Did you use one of the accredited visa agencies listed on the website or did you just apply directly on your own? How long did it take from the initial application to approval and receiving the stamp in your passport?
I did it myself
My jaw dropped through the floor at 00:11:00 when you said that was for the whole thing, not a yearly 50,000 thb. Do you have to stop by Thailand at least x days or months per year? The way I'd roll would be like 1 full year... break a few years, ... come back another year. Worth every penny in that case as it saves that paperwork again.
I wasn’t told it would expire if you left for a while. Just need to be here at the 5 year mark to update documents
I understood that the 100,000 usd for insurance could be in a US bank, just show the last 12 months of statements. I also like the fact that you do not have to keep the 800k baht in a thai bank. I plan on switching over from an OA visa and then just spending the 800k baht..
Lol. I just bought a car with that money.
For first timers you may have to show more the. 12 months statements. They asked me for 24 months but I had that so no problem .
Good video Greeny
90 day reporting you do online , takes a few minutes
It’s only yearly reporting with this. And since I leave the country and come back in that counts. So no reporting
Is that office on the 18th floor private office?
No. There is actually and immigration office up there too
Thanks for the info Greeny
No problem!!
Good information. I’ve applied for the work from Thailand professional and have been approved. I’m currently on step 5 on the flow chart. I was wondering what I would need to bring to the appointment. Did you need to bring a recent passport size photo to the appointment?
Yep. They will email you a list of everything you need to bring.
@@GreenyTravels Thanks
2:50 If someone things 50,000THB is pricey, they won't qualify for the LTR.
lol. True
I’m 49 and have a large net worth. Would I still have to invest in Thailand or should I just wait until I’m 50?
If you show 1 m in bank or passive income 80k a year you are good to go. Don’t need to bring this money to Thailand
If the primary benefit is to avoid 90 day reporting seems a more expensive route considering reporting can now be done online or mailed in. But good info..thx
Hi, is LTR more expensive than non-immigrant O retirement visa? I think Greeny said it's about the same cost, a wash. LTR is certainly less expensive than an Elite visa.
Here are the benefits of LTR-Pensioner from my view:
* Spouse and children (up to 4 dependents) are entitled to LTR (yes each dependent pays separately)
* Not having to do 90 day reports with immigration
* Not having to renew/extend/reapply with immigration every 1 year (renewable one time with BOI at 5 years)
* Don't need to keep 800,000 THB in a Thai bank, and bring proof of this to visa renewal every year
* Multiple entry visa - exit/enter Thailand as many times as you want no visit to immigration to get re-entry permit
* 1 year report to immigration can be accomplished by exiting and entering Thailand before 1 year. Every entry into Thailand the 1 year clock starts again.
* "Fast track" immigration at Thailand's international airports
Of course, the 80K passive income (or 40K income + 250K investment) are a hurdle, and some may not be willing to commit to paying for 10 years up front. But for those that qualify and want it, it's a great deal.
Thank you. Great advantages.
I got my LTR -everything online-email from the Los Angeles consulate-$1600 USD
@@BarnabyBarry Congrats! I got my LTR from Washington DC Embassy, all online thru E-visa system, also $1600 USD.
@@t.q.6639 at any point did they request fingerprints/background check?
As of March 31, 2023 Thailand will no longer allow a foreigner to open a bank account without either a work permit or a long term visa issued before March 31, this makes a marriage visa or retirement visa impossible until the rules change again. Maximum visa now 30 days.
Interesting. I’m gonna go by the bank and see what’s up. Good idea for updated bank video
Does that coincide with only a couple banks taking international deposits over 50,000 baht? I think you may just need to open an account at one of those banks.
What you need is a minimum of 90 days non-O visa. The banks accept that. You can get that in your own country, for several reasons, and without the harsh requirements of bank statements, like 400k (marriage) or 800k baht (retirement) in a thai bank. Then you will get a bank account based on that 90 days non-O, and move on to an extension based on retirement, or marriage.
Another option is to come in to Thailand on a 30 days visa exempt, or a 60 days tourist visa, and contact an agent. He will help you open up a thai bank account from that. Costs a little more, but if you`re out of options, it is worth it. There are still ways.
maximum tourist visa have 30 day plus extension 30 day more. this mean 60 day. after this can make other visa type.
Did BOI require you to wear a business suit for photo when you pickup LTR visa??
No.
80k a year!!!! sorry but i don't know many people who want to live there can make that in retirement
This visa definitely not for everyone
Do they speak english at Bangkok immigration center?
The BOI people do. Not really ask much with the immigration people but I had not issues. The BOI people make sure you are squared away first
Brian you must have really hated winters in Michigan. 😂
Ohhh 100%
@@GreenyTravels So no more snow shovels for you.
ALL normal human hate winters, need be ap-normal idiot if love winter.
Thanks Greeny. Good information. I've been thinking about this. My worry is insurance. One question, Is the 80K gross or net? never have seen anyone talk about that.
I think gross is fine but they did require my last years tax documents
It’s gross.
Greeny great video. Do they want to see the income over a 12 month period, stubs, bank statements, end of year,
etc..
You can start by submitting your income tax form to BOI to show where your income is coming from. In USA its the Form 1040, which shows wage W2 income separately from non-wage income (retirement, pension, dividends, rental income, etc.) The BOI may ask for more proof of some types of income (like rental income) so they can see it’s stable monthly. Having the last 12 months would be the time frame they want to see.
I submitted monthly statements for everything
Hi , great video, thanks, I have over 80 k dividends from last year, will one year do or do I need to show more years, thanks in advance.
Not sure. Call them. They are very responsive
So just for clarification are you saying if I have insurance through my US company that’s accepted in Thailand?
It can be. Not that cut and dry as many things here. They asked for documentation. I was also able to show that I had been used it and was registered at Bangkok Pattaya hospital for 2 years previous
Applied May 5, 2024. I received my 10 year and 5 year stamps, today, June 12, 2024 in Bangkok. Each time the BOI sent an email asking for a document. I submitted the document with 24-48 hours.
You just said they do background checks to c if u have criminal record here in Thailand...what about a past,in my case nearly 30 yr ago record in your own country ?????????
If you apply and do the whole process in Thailand they may only check Thailand. I’m not 100% sure though. You can call and ask them
LTR is a rip off! - 400k or 800k in the bank per annum gives you a one year extention at 2000baht x10=20,000
That’s for single entry. LTR is multiple entry. Gotta compare apples to apples. I personally will exit Thailand multiple times a year. Let me tell you last week using the fast track coming in and out of BKK alone made it worth it.
@@GreenyTravels 2000baht x10years=20,000..hello
@@AllSpace Retirement visa (1900thb.) + Mutli entry visa (3900thb) = 5800thb/yr x 10years = 580000thb. If you dont plan to leave Thailand each year then yep its more expensive BUT one of the amazing benefits of living in Thailand is we have so many amazing countries to visit nearby. hello.
@@GreenyTravels why make LTR visa if alltime go out Thailand many time, better not go anytime out or keep out all life.
The LTR does NOT appear to be renewable. That is to say, once your 10 years are up. That's it. Please comment on this. If someone wants to live the rest of their lives in Thailand, what do they do when this non-renewable 5+5 year visa expires?
need be 30-35 year visa thats have only true retiree visa, ower 50 old men not live lot more than 80-85 y.
Great video.
How to get the insurance from Thailand. Apply online?
I’m working with a company on that. I will be making a video soon
The vast majority of farang interested in this visa and who have family, will have Thai partners and Thai citizen children already. These days you barely see farang moving to Thailand married to farang women except for diplomatic families and missionaries.
True
It's for wealthy people. Not for others.
Have any other USA pensioners had BOI request a "certificate of pension" in addition to their 1099R's that met the $ requirements? I know they have these in Europe and India, but I don't think America has these anymore. The website says to upload one or the other, so confusing. That's been the only hiccup with this process for me.
… Turns out the person reviewing my application assumed that the UK and the USA were the same country. This is Thailand….🇹🇭
Hmm. I just sent all my monthly pension statements. Like paycheck stubs for the last 12 months. Along with my tax documents
@@GreenyTravels I sent BOI an email explaining the situation. They just replied back, saying I was approved for the LTR visa.
My pension fund provides an online generated, statement of monthly pension, which they accepted, no issues.
Thanks for the video. I have started the process. From start to finish how long did it take you?
It should take about a month.
@@GreenyTravels they have asked me to email a couple documents rather than add them to the original application. Is this the way it was for you as well?
Great Information.. Last week I talked too benjamin hart An American attorney in Bangkok obtw I don't recommend this attorney. His advice was not good. we were talking about.
A Visa for my dependent daughter . But he knew that I was on a retirement Visa. He didn't mention anything about this 10 yearvisa.
I own a $195000 worth of condos here in Chiangmai, And i'm thinking about buying one more condo this year. So as a question to recap what you've said in your podcast. If I have $250000 invested in condos here in Thailand if I have a $900000 invested in TD Ameritrade? They would still want a $100000US in a Thailand l bank account???? Or insurance???
I think if you didn’t buy the additional property in Thailand and kept the money in America and could show 1 M $ would be the best cleanest option. And yes your dependent can get a visa too. Most Attorney and Visa agents are not really all that familiar with this Visa. It’s something you have to do yourself through BOI. I actually met Ben last Saturday, not in a professional setting, nice guy.
Sorry maybe I didn't make myself clear my question ,was After demonstrating all of My net worth. Which is $900000 in the USA a little over $300000 here in Thailand real estate. I would still have to purchase health insurance 🙃???
Be careful about advising people to rent their house to meet the income requirements. Renting a house more than 3 years usually eliminates the 250/500k tax deduction on the capital gain. This means a 500k windfall can be reduced by around 18 percent on the federal plus taxes to the state plus depreciation recapture. A worst case scenario could impact the landlord by over 100k. I know this quite well because I went through the tax implications of my rental properties. There are structured ways to get around this but it does complicate life and it increases risk. Better thoroughly review your situation and long term goals prior to renting a house. Maybe you have no appreciation on the property then it could be fine as there is still 85k deduction on long term gains for married couples. You cannot get around the depreciation recapture.
Excellent points!! Definitely must do you homework and not just listen to me lol.
Paul, if you sell your property at capital loss then you can avoid depreciation recapture. Pay attention here is capital loss not nominal loss. Cheers.
Hi Greeny - nice Vlog - about the monthly income (pension) requirement - does the required income (pension) need to be shown as money going into my THB bank account or money going into my US bank?
I. Don’t need to bring it here
I'm looking to apply for the LTR Visa, I'm 53 years old but still working (offshore Rigs - outside of Thailand). Do you think the BOI will accept salary statements as proof of revenue considering I'm applying under the retiree category? It looks to me the LTR is nice opportunity for those working on a 1 Month ON/1 Month Off schedule with desire to commute from Thailand, next question is Taxes, maybe asking to a lawyer should be worth it.
I think they might. You can call them. The number is on the website. They are pretty helpful
No, salary not acceptable.
People who are in the 60 to 70 plus age bracket may find that the costs of insurance gets quite expensive, and at times not even attainable.
True. Gets pricey here
Approximately how much for someone over 60?
AXA has special health insurance designed specifically for O/OA/LTR visa at age based fee. I also have my own BS/BS fro USA, which can be use world wide. Hope this help!
@@michaelswift7121 Thanks, I will check with them later this year when planning my next trip.
@@michaelswift7121 Are you referring to the AXA EasyCare Visa Plan 1 & 2? The brochure has a table for age ranges and your choice of deductible. Pick the highest deductible 300,000 THB for the cheapest price. It can be a very cheap option if someone wants to self-insure but not put 100K USD cash in the bank earning very little to avoid insurance.
I don't want to buy health insurance. Can prove $100K in a bank account in the last 12 months - is this okay to satisfy the insurance requirement? Also, can I skip the work for a foreign company with 150M+ revenue last 3 years if I show net worth > $1MM? Thanks for answering my questions!
I am in the middle of applying and submitting docs on the application website. Doing the work-from-thailand professional one.
They change rules so much hard to keep track. If you can show 1 million US in the bank you are good
Your a wealth of knowledge
Thanks Billy!!
Financial qualification can be met by 1 year US Income tax returns.
Not sure if it was 1 or 2 years.
@@GreenyTravels The website isn't clear so I sent a message for more info. They replied that 1 year is sufficient.
İ am turkish citizen, retired, single, childless, at 50 years old, earning net 450 euros per month and i would like to get long term residence visa. How come ? İ had visited Thailand 4 times, 5 cities, 3 months in Total since 1997 til 2011. İ am alumni of Ted Ankara College, Bilkent University BSc in Business Administration, GCSU Mba dropout after getting 11 courses of 2nd class, UCSD sandiego Tourism dept's 4 months certificate in person, Goethe instituts mittelstufe 1 diplom from Dortmund. Alumni of Ufuk University Ankara, masters in İntl Relations, politics.
You will need to deposit 800,000 Thai baht into an account here.
Emekli maaşı Türkiye'den mi Almanya'dan mı?
Greeny, I’m also in the same boat as you as far as receiving a pension ( mine as a firefighter , not a police officer ).. I have to go over to the retirement office every few years ( Massachusetts ) and show my face and sign a document basically showing that I’m still alive, there is an option however of getting a signed document from a notary republic if your living outside the U.S. and sending that in as proof , I was just curious if you have to do that, and if so ,… where would you go to have that done in Thailand and is it a smooth process ,… thank you !
I have to do something like that. Every year. Since notary’s aren’t widely available here I just had the juristic lady from my condo sign it and stamp it 😂. They took it. This was not in my contract that I retired on so I doubt it’s even enforceable if I don’t do it.
@@GreenyTravels I fall under the Norfolk county retirement system in Massachusetts , we have a certain date we have to either show up there in person and sign something in front of them of get them a notarized document , if either of those don’t take place by that date, our checks come to a screeching halt !
@@GreenyTravels heck my direct deposit receipts were returned to sender two months in a row so LA was going to stop my DD. Don’t give them ideas about yearly reporting!
Thank you for the info. Do these new visa rules apply to Americans married to Thais? I'm retired. What visa if any are needed?
You can get this one if you qualify financially
Is it easy to get a visa every 30 days as a canadian to stay few months in thailand 🇹🇭???
You may have your leave the country and re enter.
normal retiree expats stay full year in thailand. no totally need go out thailand newer again, if have retiree old men. im has live last 14 year now thailand and newer not need go out of thailand ,why go if thailand have lot better live than any other country in world.
Great video. I’m connected to you. I'm sending you my support. New friend from time2getgoin team
Thank you. Appreciate it!!
Hi Good video thanks. How long did the entire process take? For your overseas property rental did you have to provide any U.S tax evidence of income or were you just able to show gross rental income statements. My Thai condo when purchased 6 years ago is a little under the USD250k mark (but over 250k now if i resold but i dont see that being taken into consideration). Other than Thai Govt bonds and a direct investment in a Thai company do you know if they would simply allow me to maintain a local bank account with the equivalent funds (e.g Thai property purchase price + local Thai bank account funds = >usd250k?) so i can focus on the usd40k income rather than the usd80k income requirement . Cheers.
I provided my tax returns and back statements showing my tenant transferred the money in my account every month using zelle
Cliff notes. To get this visa you need a minimum of $80,000 USD income a year + expensive health insurance. If you have those two things, this visa is for you. But for the other 97% of you, sorry, no dice.
Many visa types. This is just one option
Excellent info👍🏿.
Thank you Antonio!!
Thanks for the info Greeny. I do have 1 question, the 80,000 per year for me would an income from the US and not a pension, does it have to be a pension, I’m 59 but will still be working online
I think just must show income. Can be rentals investment whatever
I also have BC/BS Federal/Global, they are still tangled with my health insurance thing on #3 since Oct 2022, now they want 2023 1099 tax year. It is easier to show them you have health insurance proof in person. I had a statement letter from BCBS proof of my coverage but not enough, so I bought a local policy anyway. Good video
Reply
I had to provide a bunch of stuff.
@@GreenyTravels Do more f/u videos, yours is the best and clearest. I watched all of your videos.🏅
I have BC Global and they will not accept my insurance. Apparently, they want to see a STAMP on the proof of insurance letter, no stamp. 🥲 Have to do the 100k on deposit. Does anyone know another solution?
I like how he says this is very possible, all you need is 1 million dollars 😝
That’s it. No problem 😂
@@GreenyTravels normal retiree citizens not ewer have 1 million $