Major companies don't provide a more stable career than a smaller company. Elon Musk just took over Twitter no more remote workers and 75% of work force is now fired.
Hi, can you do a video about this LTR Visa vs Elite Visa? Would love to see the differences or similarity between the two and to compare to see which is better.
For retirement - you need to have $80K USD per year or an investment fund of $800KUSD - this is quite high. I believe the total cost of living in Thailand might be less than $25K so I think they need to reduce the $80K threhold
They know their countries cheap living price merit but they need to limit the numbers overseas and take advantage as much as possible. Try to require only wealthy people move into the country, not decent dude.
I think it's not them who have to lower the threshold, it's the foreigners who have to lower the threshold. This type of visa is just one option out of all. So if you think you can't reach it, You need to look at other types of visas.
Hi Chris great video! My wife and I have just been approved for the LTR and have went thru the entire process. We are in the work from Thailand category, the process was fairly simple and was all completed in under 20 days. There is a little more complexity to it when you get the Notification Letter for Qualifications Endorsement, you must choose where you go pickup your visa (Bangkok OSS or Royal Thai Embassy abroad). The choice also affects the cost (50,000 baht) and how the initial entry into Thailand goes (visa on arrival, tourist visa vs LTR fast track). If we chose to pick it up in Bangkok we would have had to get entry via visa on arrival (we are US citizens) and then transfer that to the LTR at the OSS office in Bangkok when we picked up the LTR visa. There are also optional and case by case based documents for proof, we had a couple of those but they are all listed and fully documented (ie. audited corporate's annual financial statement for the last 3 years). Your video is a great summary video and I wish your video would have been around before we started the process because it would have saved us a lot of time. Love the videos and hope to make it to a subscriber meetup some day!
Hi, your story is adorable. I am apply the LTR wealthy Pensioner but BOI staff request non-criminal record but don't send a request letter for me to obtain the record. did you receive request for obtaining non-criminal record in the process of your application? 😊 thanks in advance.
Great video Chris. Applied for the LTR on 22 September. Got the visa stamp on 4 November. Your video answered all my questions Khun Kanterot is great. All the BOI staff I interacted with were warm and friendly and seemed to want me to succeed. The software was very fit for purpose.
One of the Clearest and Concise video on the subject matter. Questions which really hit the mark !!! Fantastic. Ms Laopradith is on form and on the dot with all her response with the questions posed. Very impressive indeed.
Agreed, great vid! One requirement that was not touched upon was the health insurance - it ain't cheap for foreigners / retirees. Is it possible to get this once your in Thailand?
Although I now qualify for the LTV as a pensioner I still prefer the relatively simple Retirement Visa. I lived here for 5 years under that program of $800,000 Thai baht deposit into my own Thai savings account, 90 day reporting (not a big deal) and 1900 baht annual renewal with basic information. I don't want any Thai bonds or real estate for that matter as I enjoy simply renting and moving around the country. Plus I don't really want all my tax/financial info in Thai govt files. Great video Chris!
I too think the current Retirement VISA is easy and cheaper. 90-day reporting isn't difficult, but annual renewals are sometimes a challenge due to unspecified changes. I have the income needed for the LTR VISA and might apply to see what happens.
Trusting a Thai bank with your money is worse than having it on a crypto exchange. You might be gone for a couple of months and when you come back, is not there anymore. Good luck getting it back. Nobody in the bank will even talk to you.
Not sure why anyone who isn't angry at their money would tie up 800k in a Thai bank at 0.25%. That money could easily make 5% in many nations and you are missing out on 40k baht annually. 90 days reporting is no big deal for sure, but no reporting is much better. For LTR pensioner you don't need Thai bonds or real estate. You simply need to have adequate income.
For those wondering, Thai Government Bonds are currently rated BBB+, or "Stable". So it could actually make up the bond allocation in your retirement portfolio.
The Work-From-Thailand requirements for remote workers is crazy. I'm using a sub-contract system, in order to legally work in Thailand with a WP while the company is actually is in Switzerland. Before that I worked in a local Thai company paying 35% tax for 5 years. I have several friends from SEA and India who are upset and moving back, due to the crazy LTR requirements. I would qualify for the highly skilled professionals income requirements, but the base company is abroad. So even though I am highly above the minimum income requirements and fluent in written and spoken thai after 6 years I will move back to Switzerland, due to the really weird conditions. Maybe as a retirement destination or holiday destination yes, but to live one's life here? I changed my mind :)
@@hellotheregeneralkenobi365 Because the company probably is unaware they subcontracted the contract and hence could not provide documents being required. The contracting company meanwhile, may not meet the big revenue requirement as well as publicly traded listing requriement.
Facts. I have a digital branding firm in the U.S. but live in Jomtien. I'm involved in helping Thailand reach its goal of 79,000 foreign AI professional hires. Helping the Embassy, the Thai IT firms, the minister of digital economy. I'm hoping they grant me a Smart 'S', to facilitate my staying & working on that. We'll see. It's almost a must in my proposal.
Price for this visa to UK Applicants is £1,500 GBP (London Embassy/eVisa) - so at current exchange rate, it's more like 65,000baht, rather than the quoted 50,000baht.
Wow! I just watched your video the day before you came and did a video in my condo at Ashton - a young neighbor of mine said that he had met you in the library. But I just wanted to say that your video was very very helpful. It was actually filmed in the building where my office is located at. I forwarded your video to my agent. Too bad I miss you at the condo!!! Thank you for all your great videos. I hope to meet you one day!
We are retired people and we would apply for Thai Elite Visa options for long term stay like 5, 10, or 20 years without any incomes requirements if we want to stay there. For now, we are hopping around to some of these free visa countries like Mexico for six months, 3 months for Malaysia, Taiwan, or Korea with the US passport. There is always an option in life with pros and cons no matter where we live. Be kind, be cool, and be happy!
@@TheH00kie just looked it up - the vote was passed - 40 million baht minimum required to buy a max 0.40 acre site and can only be in Bangkok or Pattaya. Way too expensive for my tastes.
I had a totaly different picture of Thailand, the people are so friendly and nice and the government seems to do what is best for people, I like this a lot, thank you and also to the Thai lady who explained everything, this is gold information. Have a good day
Thanks to you for mentioning this! I just received my LTR Visa. Simple application process online. No bank account. No work permit. No 90-day reporting.
I was in Thailand in September, I don't see one million MILLIONAIRE'S applying for this visa, they need to decrease the requirements in order to achieve 1,000,000 applicants.
@@travelingsober In 2 months they've had only 1000 applicants. There's ZERO chance they're getting anywhere near one million over 5 years. It's far too exclusive and a total failure.
I know. This is not better option than 10 years Elite VISA. Those millionaires probably move to Mediterranean countries or Latin America instead with this requirement.
My husband and I have decided that we will retire in Thailand as wealthy pensioners in our 50s. Our target date is within 36 months from now. We have a lot of downsizing to do! Thanks for this video!
Great interview/info and it is a start in the right direction. However, the requirements seem high and they would get a lot more "wealthy" people to signup if they made it a bit easier where you still would get people with $$ to come and spend in Thailand. I would simplify it...if you make 3-4K a month regardless of the source of income you can get the visa and just update the docs yearly. In that case you'd get a lot of people with the means to spend their money in Thailand which is the goal.
I agree with you and I don't think you should have to invest in any government bonds in order to live in Thailand or any country long term. If you have a verifiable income which is many times what the local people live on there then why won't they allow you to live there?
OPTION A - Only 1,900 Baht ($55.82) for an Annual Retirement Visa (anyone over age 50) plus 800,000 Baht ($23,506) in a Thai bank - VERSUS - OPTION B - $80,000 annual income, $250,000 in Thai Govt Bonds or Property + 50,000 Baht in fees ($1,470) Take OPTION B, if you have more money than sense!
7:52 Miss Kantarot’s humor with Chris is PHENOMENAL!! She is so witty, charismatic, yet informative and fantastic representative of our beloved country!😂🇹🇭💖
Crazy, if you that rich and making that kind of money to qualify for that Visa I don't think you would be moving to thailand. The people that go to Thailand go because their money is worth more and they can get more out of their money in Thailand than they can at home. Regardless of the food the beauty and so on if the Thai baht was equal or more than your home currency you would think twice going to Thailand.
$80,000/year is hardly rich in the US. While the favorable exchange rate here in Thailand is great for those with a low income it works the same for those of us with higher income. We get more for our money too. Thailand is a great place to be separate from the economic benefits.
I'm Thai you said is very true ,Thailand is a good place for western expats for their budget rent a condo and try to live as thai will save your money don't buy anything or investment in risk I'm a thai expat Bangkokian I kicked me out from bangkok to stay in another province for save money.
120k a year is not that much lol people who makes 100k-150k WILL want to move to Thailand because of the low cost of living and use most of their leftover income for investments. It's not about being able to afford to live somewhere "better", which is super subjective. Thailand to me is one of the best, good beach, good mountains, good cities, BEST food.
Talked to a expat from Uk in Bangkok a few weeks back and he has been living there for years on a retirement visa . He basically said he doesn’t do anything just pay a agency around 500 bucks and they do all the paperwork and every 90 days he pays them a small amount for them to do the reporting. I got the impression he wouldn’t normally qualify if he applied himself something about the problems for him to provide required documentation but doing it this way was very easy . I guess there is always a way around things
@@poorlybuffalo555 What is a contract? I do not know about any employment contracts in the US. All employment is at will, with 2 weeks notice period. It will be interesting to see what happens when Stan loses his job after getting the LTR visa. Does the annual verification check this again?
Normally i don't take joy in people losing their jobs, but. For Twitter employees i made an exception. You guys ought to see that Tiktok clip of a day in the life of a Twitter employee. It's a literal adult-daycare and people wonder why, why Twitter is in such a shape, all their employees are adult-babies. That company needs to be reduced to virtual particles.
Great video and info.... I don't understand why someone is subjected to a "vetted" process upon reaching 5 years to see if you still qualify for the remaining 5 years when you have already invested time and money, and were originally deemed qualified for a 10 year visa. I wonder what would happen then if your financial situation took a reversal at the 5th year mark although you were accepted as the perfect candidate at year one?
I was born in Thailand, raised in Canada since I was 5 months old since 1985. After watching this channel, I've been trying to figure out how to retire here asap 🙃 lol
Love your work and your commitment to humanity 👏 Q: As a disabled vet, under 50, making over 40k a year. What's the best visa available to a person like me? From your perspective, would it be easier for me to expatriate to Thailand or the Philippines? David
@todd mcgowan Thank you for the input. I have been looking into it and Phillipines seems to be where I want to be. But I'm still 38. So I'll have to wait for the golden years to have residency.
Thank you for this video. I plan to go for the retirement visa at the $80k. I’m going to try to do it in my own now that I have this information. Thank you.
Interested to know did you make it through the process yet? Seems straight forward enough and I was thinking of doing it on my own versus paying an accounting or law firm to do it.
@@thaisupport8378 It used to be, but lately I 'm looking into the Philippines and Vietnam for long term (years/retirement), and short visits (weeks/months) to Cambodia, Thailand, Malaysia, Indonesia, Singapore.
10 yr visa has been in place for over the past 4yrs. I was issued a 10yr O-X Retirement Visa in October 2019 while “Resident” in Abu Dhabi. It’s no big deal.
@@t.q.6639 Yes. The 90day Ck is a requirement, as it is for all “legal/legit” visas, issued only by Thai Embassies and Consulates. Also note, you do not want to keep any more that 1MTB with any one (1) particular bank, ie SCB, UOB, etc. If you have 3MTB, you would be well advised to have accounts with three (3) separate banks, ie SCB, UOB and Bangkok Bank. The Thai “Deposit Protection Agency” (DPA) now only insures cash deposits up to a maximum of 1MTB. Five (5) years ago the DPA covered up to 10MTB. If you have 3MTB on deposit with a particular Bank and the bank fails….. they will only cover/insure 1MTB….. and you’ll loose 2MTB.
@@t.q.6639 Doesn’t instill much confidence in the countries Banking System. Immigration in Phuket didn’t know about it either until they asked me why I have accounts with four (4) separate banks. I showed them them paperwork I received from UOB re the DPA new limits. Tried to copy and paste here for you, but can’t. Send me your email and I can forward DPA notice.
A major issue not mentioned is the Health Insurance requirement. For those US citizens over 65 this is a big cost if they can even get insurance since Medicare is not available in Thailand. The option to self insure requires $100000 deposit (not touched except for health care as I understand.)
One thing that confused me is when you mentioned someone retired that had $ 800k US lets say and you divided it by the 10 yrs to get the $ 80k needed to qualify and you thought she said yes to that and she did BUT then she emphasized it was for annuities and pensions. So did she mean they only count your retirement savings if it is in a proven annuity or pension or is it OK being in stocks? At the 14:40 mark in the video you where clearly using the example of a couple owning $ 800k or $ 1 Million in a stock IRA fund and can use that and she said yes but only if it is in a pension or annuity fund. So there might have been miscommunication there?
Step in the right direction but it is a shame that even the big companies are moving away from higher education degrees because depending on the industry the degree is actually obsolete. The age requirement is another bummer. I fit the income requirements and would love to be able to participate, but currently operate in other SEA countries that have more favorable visa situations, but my first choice would be Thailand if they had the appropriate solution.
Sorry, 20 year Thai Elite Superiority Extension visa is the way to go. 20 year visa for 1,000,000 Thai Baht ($26518 USD). Sure, you have to pay up front, but if you break that down its $108 USD per month for 20 years. And no need to "invest" 250,000 USD or 500,000 USD in Thailand.
Eh I just got back from Thailand and I don't know a whole lot about it but seems like the monthly border run would just be easier for me. The one things the Philippines does have better is you can keep extending up into a much longer before you have to make a border run
He listed multiple options without the investment criteria.... Also you aren't factoring in time value of money. But yeah if they are going to tax your income I would say 20 year elite still better
My options for staying long term in thailand (As a software engineer): a) Apply for a job in thailand and accept a lower salary. Hard because thai employers don't want to hire people who earn good money and have options in their home country. b) Apply for the LTR visa. Australian employers want us to be in the office once a week even though we are in huge demand. It's still difficult to negotiate. c) Work for an australian company, save 5000 USD per month and after a year, go holiday for 6 months. Hard because of lack of visa options even though I can fully support myself while in thailand. And don't suggest elite visa because it is not worth it if you are only going for 6 months every 18 months. And here's the thing, the elite visa isn't worth it if there is a chance you could find work in Thailand because they don't refund you for the remaining time of the membership should you decide you don't need it.
Or keep your software engineer role in your country. Work nights. Marry a Thai woman for a marriage visa or Retire here. These "smart visas" always have several poison pills built in which disqualify anyone that would actually want to stay here long term. I've been here 5-years from 38 years old until now. I usually work until 9pm until 2am and am on a marriage visa.
Can you by two properties, say one condo to rent out, and another to live in, or only one property. Also are there finance options for foreigners there?
Thai visa’s seem SO complex all the time. All these requirements! It’s crazy. Why the permanent resident visa for the Philippines is so much easier. Not so many things needed. They also have a nice law for foreigners where if you just spend at least US$50,000 to buy a condo you automatically get the permanent resident visa. I know because I got one. Plus it allows you to open up a business. Plus they have a special window at the airport for these card holders. It’s called an ICR card. Quota visa. Thailand really needs to simplify their requirements. It’s nuts!
Thai visa and permanent residency seems like bubble mind bursting now I will look at Philippines since I will just purchase 50k usd condo and get permanent residency seems simple and straightforward.
In the US, if you try to sell a bond before it has matured, the selling price could end up being lower based on finding a buyer and what they're willing to pay.
Too young to retire and currently working towards the PSLF Student Forgiveness program so unable to uproot our life here. But my husband and I are daydreaming in 10-20 years to make that move! ❤ Thailand
Looks like the magic number for this visa is to be 50 years old. Many people retire before this age and would like to retire in Thailand. I retired at 37, am married to a Thai citizen, and won't qualify because of my age. This 10 year LTR is something I'm very interested in.
I applied because of your post, great information and interview. It's still a bit fuzzy to me. I am retired but unwilling to put my money in an annuity (usually a poor investment strategy). I manage my stock portfolio (yes it's down). I previously already "owned" two properties here in Thailand but I couldn't put them in my name due to Thai property ownership rules. We put the house we build in my Thai wife's name and the townhouse in a Corporations name. When you buy a place you also spend quite a bit to update the places so the purchase cost doesn't reflect the actual real estate investment. I also am putting two Thai kids through University (supporting a family) but that's. not part of the consideration. They also want you to evidance longer term health insurance. I buy my Thai health for when I am in Thailand, buying a long term policy just to meet the application criteria hmmm. As I said I applied, let's see what happens, hope it works out. Thanks for the information.
@@captainLoknar Nothing wrong with them. I just prefer not to hassle with the reporting requirements as I am in and out of the country. Perhaps you can enlighten me on what happens (married visa) when you are out of Thailand and need to renew?
@@sgraham005 reporting is done once in person then with the online process. if you apply 7-15 days before the 90day limit it always goes smoothly and takes 1 minute Get a multiple entry visa and renew it annually
I'm wondering if all the women from neighboring Cambodia and Laos who immigrate and work in all the bars and clubs in Bangkok and Pattaya have to meet these same financial requirements?
No. People from certain ASEAN countries can work normally like Thais. No extra documents needed. Laos , Cambodia , Myanmar and Malaysia all can work freely without any extra requirements for salary , education etc.
It changed. If those women work without work permit or proper visa, if they get caught, they will be whacked regardless their nationalities @@marcanthonyskidmore4131
Where can one get medical insurance for retired people living in Thailand? What are the cost for people over 60? Any links to providers are appreciated. thanks!!
Not only that, most public companies don't allow remote work. They all want you to come in sometimes (or stay in the state) where they have their business.
One of your first questions about Stan hit the nail on the head regarding the vast majority of successful remote workers, in that they are NOT working for large, publicly listed companies. Interesting that Stan seemingly does not have to pay income tax on income from outside of the Kingdom. Does this mean that for such category of residents, that Thailand is setting itself up as a tax haven for wealthy retirees/workers? Using the UK requirements, if you are non domicile from the UK, meaning you have residency status in another country, then you fall outside of the income tax requirements for your home nation, and fall under the income tax requirements for the country in which you reside. I hope that the LTR visa scheme is a success for Thailand, but I do find myself in that 'other' category, someone making well over $80k a year, that wants to live in Thailand long term and poses no threat to the employment vacancies in Thailand, but for whom there currently is no long term visa option. Being over 50, I could just apply for a retirement visa, but work remotely in contradiction to the visa permissions, or as is currently the case for many, get a 90 day visa, and likewise, continue to work remotely. Even the Elite Visa would permit me to stay in Thailand for 5 years, but still doesn't 'permit' working remotely. It seems there is still no solution for most remote workers wishing to live in Thailand. Such a shame. In the meantime, other countries have already woken up to this demographic and are or have already created the visas to stay long term and work remotely legitimately.
Also what about business owners that can run their business remotely. It's a large growth area, and these people would have in excess of $80k per year income, but they are not 'employed' by a company, given they own the business.
She was wrong. That Twitter employee will have to pay Thai taxes if he performs the work in Thailand. And your company will become tax resident in Thailand through a permanent establishment with the control person operating in TH. Now whether this will ever be caught by the tax authorities is another matter.
@@augustusmaximus2283 umm, really? She is working on behalf of the Thai government, processing the applications for this scheme. I would give her a little more credit. These are new arrangements and it is clear, not for the first time, that Thailand is breaking new ground, and in the process, developing the arrangements it wants, in respect of tax arrangements. Whether those arrangements have been formally established in law, is another matter, but no different than the current situation of cannabis declassification, and the new cannabis laws still in discussion and not having been passed.
@@SeanHendy section 5 of royal decree (signed by the king) gives exemption on: "assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment or from business carried on abroad, or a property situated abroad and brought into Thailand." The hypothetical Twitter employee is performing an employment in Thailand, not abroad based on Thai tax law.
@@augustusmaximus2283 interesting perspective and input, it will be interesting to see what the final arrangements are, given this sounds like a major push to bring in a significant number of people of a certain type, and its not beyond reason that other legislative changes will happen, related to this scheme.. Lots of different models, but ultimately compared to the west, even if all income, from everywhere, was liable for income tax paid in the Kingdom, it would be a lower rate.
That is very interesting what she says at 19:30 about there being no income tax on passive income earned in the U.S. under the Wealthy Pensioner LTR visa. I need to find out if this applies to the Privilege visa, too. If so, I would go for the Privilege visa.
Thailand is amazing... however my only gripe is that I wish the tourist visa was at least 90 days... while these visas are nice it's a bit high to meet the income requirements of $80k/yr...
It's one of conservative Kingdom you know. Looks like they polite and vigorous but in reality, it's the country attempt to be isolated from foreign influence.
Does Stan want to adopt me? Wish I could own a home in Thailand, but I also worry real estate prices will go through the roof if they let expat to own land. Great video Chris. I always enjoy your video, looking forward to more!
The requirement for the $1M to be in an 'annuity' or pension fund is preposterous. If you can prove you have a $1M liquid net-worth you should be good to go imo.
Thailand seems to be trying to become a home for rich only. I suspect this will fail to attract the numbers they want. Though I have the funds I have no desire to devote the funds to Thailand so I will pass.
I don't think I would feel comfortable having assets invested in Thailand. I'll have to stick the regular retirement visa. Nice options for those who choose to do them though.
Thanks for the information, very well presented! What about if you already bought a condo of 250,000.- US dollar, say 4 years ago, does this still qualify for the 250,000.- requirement, or do you need to invest this amount of money at the date of application for LTR visa?
They accept the documents proving the amount you paid at the time. They only accept the amount on the official Land Office documents though, regardless of what the S&P agreement states and what you actually paid for it
The public traded companies kinda kills it for most people. Specially from smaller european countries. Such a weird requirement, seems BOI is making another "Smart Visa", ie a flop. 1000 in a few months but want 1000000, how can that be considered and success? Weird. Better just forget about getting any type of visa for Thailand and continue going there on visa exemption. But nice video! Cheers
"Such a weird requirement" But it isn't so weird knowing government understands nothing about economics 😄. This is what we can expect from people working in the public sector.
So actually its only a 5 year visa, due to the fact that you can only get the additional 5 years if you meet the current requirements but what if those rules change during the first 5 year stint? Reason I'm asking is that here in Malaysia under the MM2h they did the same , move the goal posts further and gave a new 10 year visa, but it can only get renewed after the first 5 years. Now in Malaysia to meet the current requirement for MM2H you need to show USD$10/month pension and deposit USD$250K in a govt FD and pay a one time fee of $16K.
I bet that there is a very good chance that you will get married within the first five years of your stay in Thailand to a Thai lady so you can apply for a spousal visa just in case the Thai government makes another overhaul to the long term visa requirement five years later.
Chris, I have a few questions: 1. Is the 80k USD based on gross or net income? 2. I wonder if the 89k is subject to increases based in inflation? 3. Once your online LTV is reviewed, how long would I have before I must meet in person with a Thai govt visa official? Thanks!
Gross income and you have the option to pick it up in BKK or the Thai Consulate (where you live or where you noted on the application) either evisa or in person pick it up at the Thai Consulate.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
To apply for the LTR Visa, here's the link: ltr.boi.go.th/
Great video like always
@@dananna8614 in how long I will recive my 60 days visa ? It's been almost a month and I didn't get it yet!!
Major companies don't provide a more stable career than a smaller company. Elon Musk just took over Twitter no more remote workers and 75% of work force is now fired.
Hi, can you do a video about this LTR Visa vs Elite Visa? Would love to see the differences or similarity between the two and to compare to see which is better.
Stan is probably fired. You can kiss Thailand goodbye !!!!
For retirement - you need to have $80K USD per year or an investment fund of $800KUSD - this is quite high. I believe the total cost of living in Thailand might be less than $25K so I think they need to reduce the $80K threhold
The whole program is targeted to wealthy individuals. It is not hard to spend a lot of money here for a higher standard of living.
they aren't looking for backpackers with this visa
They know their countries cheap living price merit but they need to limit the numbers overseas and take advantage as much as possible. Try to require only wealthy people move into the country, not decent dude.
I think it's not them who have to lower the threshold, it's the foreigners who have to lower the threshold. This type of visa is just one option out of all. So if you think you can't reach it, You need to look at other types of visas.
800K usd in us stocks?
I paused the video and applied. it was VERY easy and straightforward!
Have you got your Long term visa for Thailand? Are you happy with the process?
Hi Chris great video! My wife and I have just been approved for the LTR and have went thru the entire process. We are in the work from Thailand category, the process was fairly simple and was all completed in under 20 days. There is a little more complexity to it when you get the Notification Letter for Qualifications Endorsement, you must choose where you go pickup your visa (Bangkok OSS or Royal Thai Embassy abroad). The choice also affects the cost (50,000 baht) and how the initial entry into Thailand goes (visa on arrival, tourist visa vs LTR fast track). If we chose to pick it up in Bangkok we would have had to get entry via visa on arrival (we are US citizens) and then transfer that to the LTR at the OSS office in Bangkok when we picked up the LTR visa. There are also optional and case by case based documents for proof, we had a couple of those but they are all listed and fully documented (ie. audited corporate's annual financial statement for the last 3 years). Your video is a great summary video and I wish your video would have been around before we started the process because it would have saved us a lot of time. Love the videos and hope to make it to a subscriber meetup some day!
Thank you for your story! So informative!🙏🙏💖💖
*bhat
baht
Name of company? If you're a software engineer and they need some more devs, i'd love to know the names of companies letting employees do this.
Hi, your story is adorable. I am apply the LTR wealthy Pensioner but BOI staff request non-criminal record but don't send a request letter for me to obtain the record.
did you receive request for obtaining non-criminal record in the process of your application? 😊 thanks in advance.
@@lautony2841 for me in the US I had to go to my local courthouse and get a certified copy of my criminal record showing no record
Just got my 5-year DTV visa last week thanks to this video, I wouldn't have known about it otherwise. Great job Chris.
Great video Chris. Applied for the LTR on 22 September. Got the visa stamp on 4 November. Your video answered all my questions Khun Kanterot is great. All the BOI staff I interacted with were warm and friendly and seemed to want me to succeed. The software was very fit for purpose.
Great to hear!
One of the Clearest and Concise video on the subject matter. Questions which really hit the mark !!! Fantastic. Ms Laopradith is on form and on the dot with all her response with the questions posed. Very impressive indeed.
thanks a lot!
Agreed, great vid! One requirement that was not touched upon was the health insurance - it ain't cheap for foreigners / retirees. Is it possible to get this once your in Thailand?
Although I now qualify for the LTV as a pensioner I still prefer the relatively simple Retirement Visa. I lived here for 5 years under that program of $800,000 Thai baht deposit into my own Thai savings account, 90 day reporting (not a big deal) and 1900 baht annual renewal with basic information. I don't want any Thai bonds or real estate for that matter as I enjoy simply renting and moving around the country. Plus I don't really want all my tax/financial info in Thai govt files. Great video Chris!
Same here poor/ unreliable returns in Thailand
*$800,000
I too think the current Retirement VISA is easy and cheaper. 90-day reporting isn't difficult, but annual renewals are sometimes a challenge due to unspecified changes. I have the income needed for the LTR VISA and might apply to see what happens.
Trusting a Thai bank with your money is worse than having it on a crypto exchange. You might be gone for a couple of months and when you come back, is not there anymore. Good luck getting it back. Nobody in the bank will even talk to you.
Not sure why anyone who isn't angry at their money would tie up 800k in a Thai bank at 0.25%. That money could easily make 5% in many nations and you are missing out on 40k baht annually. 90 days reporting is no big deal for sure, but no reporting is much better. For LTR pensioner you don't need Thai bonds or real estate. You simply need to have adequate income.
For those wondering, Thai Government Bonds are currently rated BBB+, or "Stable". So it could actually make up the bond allocation in your retirement portfolio.
Where can I get the information on the rates these Thai bonds are paying currently?
Wait 12 months
I'd rather invest in a Condo. At least you'll have hard asset.
I wouldn't touch Thai bonds or property. Sketchy
@@michael2275 Stay in your country then.
The Work-From-Thailand requirements for remote workers is crazy. I'm using a sub-contract system, in order to legally work in Thailand with a WP while the company is actually is in Switzerland.
Before that I worked in a local Thai company paying 35% tax for 5 years. I have several friends from SEA and India who are upset and moving back, due to the crazy LTR requirements.
I would qualify for the highly skilled professionals income requirements, but the base company is abroad.
So even though I am highly above the minimum income requirements and fluent in written and spoken thai after 6 years I will move back to Switzerland, due to the really weird conditions. Maybe as a retirement destination or holiday destination yes, but to live one's life here? I changed my mind :)
crazy indeed ...I would say comical..
Why wouldn’t you qualify if the company is abroad? In the example here the person works for Twitter which is an American company
is there a sub-contract service you could recommend ?
@@hellotheregeneralkenobi365 Because the company probably is unaware they subcontracted the contract and hence could not provide documents being required. The contracting company meanwhile, may not meet the big revenue requirement as well as publicly traded listing requriement.
Facts. I have a digital branding firm in the U.S. but live in Jomtien. I'm involved in helping Thailand reach its goal of 79,000 foreign AI professional hires. Helping the Embassy, the Thai IT firms, the minister of digital economy. I'm hoping they grant me a Smart 'S', to facilitate my staying & working on that. We'll see. It's almost a must in my proposal.
Price for this visa to UK Applicants is £1,500 GBP (London Embassy/eVisa) - so at current exchange rate, it's more like 65,000baht, rather than the quoted 50,000baht.
Thank you but it is the same amount you pay anyway?
Wow! I just watched your video the day before you came and did a video in my condo at Ashton - a young neighbor of mine said that he had met you in the library. But I just wanted to say that your video was very very helpful. It was actually filmed in the building where my office is located at. I forwarded your video to my agent. Too bad I miss you at the condo!!! Thank you for all your great videos. I hope to meet you one day!
We are retired people and we would apply for Thai Elite Visa options for long term stay like 5, 10, or 20 years without any incomes requirements if we want to stay there. For now, we are hopping around to some of these free visa countries like Mexico for six months, 3 months for Malaysia, Taiwan, or Korea with the US passport. There is always an option in life with pros and cons no matter where we live. Be kind, be cool, and be happy!
@Khmer Minsota Love it! That's my plan!
@@JamesBondEsq. That plant isn’t working for Thailand. Thailand is targeting for rich foreign .
@@TheH00kie you need to edit your comment to copy it and paste it in the main comments section.
And delete this comment from here.
@@TheH00kie just looked it up - the vote was passed - 40 million baht minimum required to buy a max 0.40 acre site and can only be in Bangkok or Pattaya. Way too expensive for my tastes.
@@globalpropertyinvestment ah that’s quite restrictive then, I’m also looking at Malaysia as there are no land ownership restrictions at all
I had a totaly different picture of Thailand, the people are so friendly and nice and the government seems to do what is best for people, I like this a lot, thank you and also to the Thai lady who explained everything, this is gold information. Have a good day
Thanks for that!
Thanks to you for mentioning this! I just received my LTR Visa. Simple application process online. No bank account. No work permit. No 90-day reporting.
Wonderful!
I was in Thailand in September, I don't see one million MILLIONAIRE'S applying for this visa, they need to decrease the requirements in order to achieve 1,000,000 applicants.
@@travelingsober $80k AND be over 50...or more requirements that will keep many people out that still make $80k/yr.
@@travelingsober In 2 months they've had only 1000 applicants. There's ZERO chance they're getting anywhere near one million over 5 years. It's far too exclusive and a total failure.
I know. This is not better option than 10 years Elite VISA. Those millionaires probably move to Mediterranean countries or Latin America instead with this requirement.
My husband and I have decided that we will retire in Thailand as wealthy pensioners in our 50s. Our target date is within 36 months from now. We have a lot of downsizing to do! Thanks for this video!
Great interview/info and it is a start in the right direction. However, the requirements seem high and they would get a lot more "wealthy" people to signup if they made it a bit easier where you still would get people with $$ to come and spend in Thailand. I would simplify it...if you make 3-4K a month regardless of the source of income you can get the visa and just update the docs yearly. In that case you'd get a lot of people with the means to spend their money in Thailand which is the goal.
I agree with you and I don't think you should have to invest in any government bonds in order to live in Thailand or any country long term. If you have a verifiable income which is many times what the local people live on there then why won't they allow you to live there?
OPTION A - Only 1,900 Baht ($55.82) for an Annual Retirement Visa (anyone over age 50) plus 800,000 Baht ($23,506) in a Thai bank
- VERSUS -
OPTION B - $80,000 annual income, $250,000 in Thai Govt Bonds or Property + 50,000 Baht in fees ($1,470)
Take OPTION B, if you have more money than sense!
Option A only applies to old people...
Their visa requirements are fuhking stuhpid asf. They must have brain damage over at their embassy
Yes please do a video on starting a company in thailand!
7:52 Miss Kantarot’s humor with Chris is PHENOMENAL!! She is so witty, charismatic, yet informative and fantastic representative of our beloved country!😂🇹🇭💖
totally agree, she is great! and represents Thailand very well! :)
You're a king Chris. Thanks for this video!
Glad to help!
@@travelingsober Westerner expats must bow down to the Thai king if not then go to sleep in the jail .
@@travelingsober It is ok. We the royalists know the difference between good humor or insult.
Best Video Yet on Visa in Thailand!!! You are without question the best Channel on RUclips!!! Thanks Again!!!!!
Great video brother, the level of access you have is second to none here in The Big Mango!
เรายากให้ทุกคนมีแต่ความสุข. ไม่ว่าชาติใด หรือศาสนาใด. ขอให้ทุกคนมีแต่ความสุข
Crazy, if you that rich and making that kind of money to qualify for that Visa I don't think you would be moving to thailand. The people that go to Thailand go because their money is worth more and they can get more out of their money in Thailand than they can at home. Regardless of the food the beauty and so on if the Thai baht was equal or more than your home currency you would think twice going to Thailand.
$80,000/year is hardly rich in the US. While the favorable exchange rate here in Thailand is great for those with a low income it works the same for those of us with higher income. We get more for our money too. Thailand is a great place to be separate from the economic benefits.
I'm Thai you said is very true ,Thailand is a good place for western expats for their budget rent a condo and try to live as thai will save your money don't buy anything or investment in risk I'm a thai expat Bangkokian I kicked me out from bangkok to stay in another province for save money.
120k a year is not that much lol people who makes 100k-150k WILL want to move to Thailand because of the low cost of living and use most of their leftover income for investments. It's not about being able to afford to live somewhere "better", which is super subjective. Thailand to me is one of the best, good beach, good mountains, good cities, BEST food.
That's right they b residing in south France with the fresh air and high class public amenities aaahahahaha Thai delusions LOL typical
@@lecannet Thailand is a great place to live whatever your income. France . . . boring
That's exactly what I want to know and learn about the new Thai immigrants rural .
You did an excellent job of interviewing .
Talked to a expat from Uk in Bangkok a few weeks back and he has been living there for years on a retirement visa .
He basically said he doesn’t do anything just pay a agency around 500 bucks and they do all the paperwork and every 90 days he pays them a small amount for them to do the reporting.
I got the impression he wouldn’t normally qualify if he applied himself something about the problems for him to provide required documentation but doing it this way was very easy .
I guess there is always a way around things
Agency name?
$500 is about 19,000 baht. An LTR for a pensioner is 50,000 baht. For anyone using an agent the 10 year LTR is considerably cheaper.
@@martypoll Well, freedom has its price ;-)
@@LeoR4U Haha good one
@@leotravel85 there’s lots in Pattaya n Bangkok max 34000bht first year then 12000 to renew
Do you need to immediately move to Thailand when you get the LTR visa? How long do you have to be in Thailand in a year
So thai elite card are still the best for most under 50, thanks!
This is a great video man! More and more people will start looking at these videos in the next 1-2 years😊
If Stan is a remote worker at Twitter, he may not have a job much longer 😂
Unless he can elongate his contract...
@@poorlybuffalo555 What is a contract? I do not know about any employment contracts in the US. All employment is at will, with 2 weeks notice period. It will be interesting to see what happens when Stan loses his job after getting the LTR visa. Does the annual verification check this again?
😂😂
Normally i don't take joy in people losing their jobs, but. For Twitter employees i made an exception. You guys ought to see that Tiktok clip of a day in the life of a Twitter employee. It's a literal adult-daycare and people wonder why, why Twitter is in such a shape, all their employees are adult-babies. That company needs to be reduced to virtual particles.
I hope Stan is gone. Along with Yoel Roth.
Great interview. Waiting for the update on right to buy / own land in Thailand.
Great video and info....
I don't understand why someone is subjected to a "vetted" process upon reaching 5 years to see if you still qualify for the remaining 5 years when you have already invested time and money, and were originally deemed qualified for a 10 year visa. I wonder what would happen then if your financial situation took a reversal at the 5th year mark although you were accepted as the perfect candidate at year one?
I was born in Thailand, raised in Canada since I was 5 months old since 1985. After watching this channel, I've been trying to figure out how to retire here asap 🙃 lol
Love your work and your commitment to humanity 👏
Q: As a disabled vet, under 50, making over 40k a year. What's the best visa available to a person like me?
From your perspective, would it be easier for me to expatriate to Thailand or the Philippines?
David
Phillippines does make it very easy for American veterans...
@todd mcgowan Thank you for the input. I have been looking into it and Phillipines seems to be where I want to be. But I'm still 38. So I'll have to wait for the golden years to have residency.
But Philippines is unsafe. Nowhere near safety of Thailand. Some people hire a bodyguard.
Thank you for this video. I plan to go for the retirement visa at the $80k. I’m going to try to do it in my own now that I have this information. Thank you.
Interested to know did you make it through the process yet? Seems straight forward enough and I was thinking of doing it on my own versus paying an accounting or law firm to do it.
I 'm not qualified for any of the categories, so basically stopped watching after the 3 minute mark. Don't see how this is a life changer.
So most of peoples!Forget it!
Thailand is not even your destination so just go to next video , save those 3 mins
@@thaisupport8378 It used to be, but lately I 'm looking into the Philippines and Vietnam for long term (years/retirement), and short visits (weeks/months) to Cambodia, Thailand, Malaysia, Indonesia, Singapore.
10 yr visa has been in place for over the past 4yrs. I was issued a 10yr O-X Retirement Visa in October 2019 while “Resident” in Abu Dhabi. It’s no big deal.
Did you have to do 90 days check in living in Thailand, and keep 3 million baht in a Thai bank for O-X visa?
@@t.q.6639 Yes. The 90day Ck is a requirement, as it is for all “legal/legit” visas, issued only by Thai Embassies and Consulates.
Also note, you do not want to keep any more that 1MTB with any one (1) particular bank, ie SCB, UOB, etc. If you have 3MTB, you would be well advised to have accounts with three (3) separate banks, ie SCB, UOB and Bangkok Bank. The Thai “Deposit Protection Agency” (DPA) now only insures cash deposits up to a maximum of 1MTB. Five (5) years ago the DPA covered up to 10MTB.
If you have 3MTB on deposit with a particular Bank and the bank fails….. they will only cover/insure 1MTB….. and you’ll loose 2MTB.
@@verticalift Didn’t know that. Now I do. 1MTB is very little!
@@t.q.6639 Doesn’t instill much confidence in the countries Banking System.
Immigration in Phuket didn’t know about it either until they asked me why I have accounts with four (4) separate banks. I showed them them paperwork I received from UOB re the DPA new limits. Tried to copy and paste here for you, but can’t. Send me your email and I can forward DPA notice.
@@verticalift I can look it up. Thank you.
hmm but what if the Thai govt moves the goal posts later on if there is a change in gov't?
Yes, you are absolutely right only put money in the bank, but not retirement visa or new b.shit thai visa and be smart guys, always in the kingdom.🙏
You are the man! This was a very informative video.
Chris, knowing for us in 🇨🇦 that Thailand has a Timmy's ☕️ is reason enough to come. 🤣
Deffo the best youtuber I watch. This video was so good and something we are looking at doing in the future
I am one of those 1000 initial pensioner applicants. I am waiting to hear from them.
oh amazing....good luck!
Thank you, this is an informative video. Nothing mentioned about the 10 year coverage for medical insurance.
A major issue not mentioned is the Health Insurance requirement. For those US citizens over 65 this is a big cost if they can even get insurance since Medicare is not available in Thailand. The option to self insure requires $100000 deposit (not touched except for health care as I understand.)
Exactly right
@@melmalinowski9125 you have somehow presented that information to them in the wrong way. The 100k interpretation was very liberal for mine.
@@melmalinowski9125 it’s very true. Simply telling you how they interpreted mine. Account is fully invested. Albeit I’m not American….
THANKS CRISPARKER GOOD NEWS FOR LTR VISA I LOOKING FORWARD TO MOVE TO THAILAND FROM TORONTO
One thing that confused me is when you mentioned someone retired that had $ 800k US lets say and you divided it by the 10 yrs to get the $ 80k needed to qualify and you thought she said yes to that and she did BUT then she emphasized it was for annuities and pensions. So did she mean they only count your retirement savings if it is in a proven annuity or pension or is it OK being in stocks?
At the 14:40 mark in the video you where clearly using the example of a couple owning $ 800k or $ 1 Million in a stock IRA fund and can use that and she said yes but only if it is in a pension or annuity fund. So there might have been miscommunication there?
Well spotted 🍻
To get it from the horses mouth was awesome and the details you elicited were spot on. Thank you!
Glad it was helpful!
Step in the right direction but it is a shame that even the big companies are moving away from higher education degrees because depending on the industry the degree is actually obsolete. The age requirement is another bummer. I fit the income requirements and would love to be able to participate, but currently operate in other SEA countries that have more favorable visa situations, but my first choice would be Thailand if they had the appropriate solution.
dude best news ive heard in so long. Im coming ASAP
Sorry, 20 year Thai Elite Superiority Extension visa is the way to go. 20 year visa for 1,000,000 Thai Baht ($26518 USD). Sure, you have to pay up front, but if you break that down its $108 USD per month for 20 years. And no need to "invest" 250,000 USD or 500,000 USD in Thailand.
Yes but why does this visa get exempt from 90 day reports and not Thai Elite
Eh I just got back from Thailand and I don't know a whole lot about it but seems like the monthly border run would just be easier for me. The one things the Philippines does have better is you can keep extending up into a much longer before you have to make a border run
He listed multiple options without the investment criteria.... Also you aren't factoring in time value of money. But yeah if they are going to tax your income I would say 20 year elite still better
You can just have 1 million in us assets though.
This is the best way to go honestly
Great video Chris and thanks for all your hard work posting so much valuable intel. Is this LTR visa still in effect?
My options for staying long term in thailand (As a software engineer):
a) Apply for a job in thailand and accept a lower salary. Hard because thai employers don't want to hire people who earn good money and have options in their home country.
b) Apply for the LTR visa. Australian employers want us to be in the office once a week even though we are in huge demand. It's still difficult to negotiate.
c) Work for an australian company, save 5000 USD per month and after a year, go holiday for 6 months. Hard because of lack of visa options even though I can fully support myself while in thailand. And don't suggest elite visa because it is not worth it if you are only going for 6 months every 18 months. And here's the thing, the elite visa isn't worth it if there is a chance you could find work in Thailand because they don't refund you for the remaining time of the membership should you decide you don't need it.
Or keep your software engineer role in your country. Work nights. Marry a Thai woman for a marriage visa or Retire here. These "smart visas" always have several poison pills built in which disqualify anyone that would actually want to stay here long term. I've been here 5-years from 38 years old until now. I usually work until 9pm until 2am and am on a marriage visa.
Irrelevant information
Can you by two properties, say one condo to rent out, and another to live in, or only one property. Also are there finance options for foreigners there?
Thai visa’s seem SO complex all the time. All these requirements! It’s crazy. Why the permanent resident visa for the Philippines is so much easier. Not so many things needed. They also have a nice law for foreigners where if you just spend at least US$50,000 to buy a condo you automatically get the permanent resident visa. I know because I got one. Plus it allows you to open up a business. Plus they have a special window at the airport for these card holders. It’s called an ICR card. Quota visa. Thailand really needs to simplify their requirements. It’s nuts!
Thailand on a $500 billion hunt in 5 years 😂
250k-500k investments with not a lot of benefits is a deal breaker
Thai visa and permanent residency seems like bubble mind bursting now I will look at Philippines since I will just purchase 50k usd condo and get permanent residency seems simple and straightforward.
In the US, if you try to sell a bond before it has matured, the selling price could end up being lower based on finding a buyer and what they're willing to pay.
Too young to retire and currently working towards the PSLF Student Forgiveness program so unable to uproot our life here. But my husband and I are daydreaming in 10-20 years to make that move! ❤ Thailand
Looks like the magic number for this visa is to be 50 years old. Many people retire before this age and would like to retire in Thailand. I retired at 37, am married to a Thai citizen, and won't qualify because of my age. This 10 year LTR is something I'm very interested in.
The problem for Stan is that he has just been fired by Elon Musk, along with around 50% of Twitter employees😭
Great informative video, Chris!!!
I was looking for this comment.😆
😆 you read my mind
Stan has to support himself now by converting😁 into a ladyboy.
Stan was undoubtedly a Leftist Douche, so who gives a shift?
Excellent video! Please ask how long you have to own the Thai Government Bonds?
I applied because of your post, great information and interview. It's still a bit fuzzy to me. I am retired but unwilling to put my money in an annuity (usually a poor investment strategy). I manage my stock portfolio (yes it's down). I previously already "owned" two properties here in Thailand but I couldn't put them in my name due to Thai property ownership rules. We put the house we build in my Thai wife's name and the townhouse in a Corporations name. When you buy a place you also spend quite a bit to update the places so the purchase cost doesn't reflect the actual real estate investment. I also am putting two Thai kids through University (supporting a family) but that's. not part of the consideration. They also want you to evidance longer term health insurance. I buy my Thai health for when I am in Thailand, buying a long term policy just to meet the application criteria hmmm. As I said I applied, let's see what happens, hope it works out. Thanks for the information.
..or marriage visa?
@@captainLoknar Nothing wrong with them. I just prefer not to hassle with the reporting requirements as I am in and out of the country. Perhaps you can enlighten me on what happens (married visa) when you are out of Thailand and need to renew?
D.C. area code?
@@sgraham005 reporting is done once in person then with the online process. if you apply 7-15 days before the 90day limit it always goes smoothly and takes 1 minute
Get a multiple entry visa and renew it annually
Steven not Stephen - sorry
Thanks "Workin' for Me". Great videos.
I'm wondering if all the women from neighboring Cambodia and Laos who immigrate and work in all the bars and clubs in Bangkok and Pattaya have to meet these same financial requirements?
No. People from certain ASEAN countries can work normally like Thais. No extra documents needed. Laos , Cambodia , Myanmar and Malaysia all can work freely without any extra requirements for salary , education etc.
It changed. If those women work without work permit or proper visa, if they get caught, they will be whacked regardless their nationalities @@marcanthonyskidmore4131
Where can one get medical insurance for retired people living in Thailand? What are the cost for people over 60? Any links to providers are appreciated. thanks!!
Stan qualified, but was one of the 75% that are getting fired by Elon Musk. Too bad Stan.
that's a good one
Not only that, most public companies don't allow remote work. They all want you to come in sometimes (or stay in the state) where they have their business.
If Stan worked at Twitter he should not only be fired but put on fire....
😂😂👍
Rip Stan 😂
Hi Chris,
How long did it take from when you submitted the visa until when you were notified that you were approved?
Thanks.
One of your first questions about Stan hit the nail on the head regarding the vast majority of successful remote workers, in that they are NOT working for large, publicly listed companies.
Interesting that Stan seemingly does not have to pay income tax on income from outside of the Kingdom. Does this mean that for such category of residents, that Thailand is setting itself up as a tax haven for wealthy retirees/workers? Using the UK requirements, if you are non domicile from the UK, meaning you have residency status in another country, then you fall outside of the income tax requirements for your home nation, and fall under the income tax requirements for the country in which you reside.
I hope that the LTR visa scheme is a success for Thailand, but I do find myself in that 'other' category, someone making well over $80k a year, that wants to live in Thailand long term and poses no threat to the employment vacancies in Thailand, but for whom there currently is no long term visa option.
Being over 50, I could just apply for a retirement visa, but work remotely in contradiction to the visa permissions, or as is currently the case for many, get a 90 day visa, and likewise, continue to work remotely.
Even the Elite Visa would permit me to stay in Thailand for 5 years, but still doesn't 'permit' working remotely.
It seems there is still no solution for most remote workers wishing to live in Thailand. Such a shame. In the meantime, other countries have already woken up to this demographic and are or have already created the visas to stay long term and work remotely legitimately.
Also what about business owners that can run their business remotely. It's a large growth area, and these people would have in excess of $80k per year income, but they are not 'employed' by a company, given they own the business.
She was wrong. That Twitter employee will have to pay Thai taxes if he performs the work in Thailand. And your company will become tax resident in Thailand through a permanent establishment with the control person operating in TH. Now whether this will ever be caught by the tax authorities is another matter.
@@augustusmaximus2283 umm, really? She is working on behalf of the Thai government, processing the applications for this scheme. I would give her a little more credit. These are new arrangements and it is clear, not for the first time, that Thailand is breaking new ground, and in the process, developing the arrangements it wants, in respect of tax arrangements. Whether those arrangements have been formally established in law, is another matter, but no different than the current situation of cannabis declassification, and the new cannabis laws still in discussion and not having been passed.
@@SeanHendy section 5 of royal decree (signed by the king) gives exemption on: "assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment or from business carried on abroad, or a property situated abroad and brought into Thailand."
The hypothetical Twitter employee is performing an employment in Thailand, not abroad based on Thai tax law.
@@augustusmaximus2283 interesting perspective and input, it will be interesting to see what the final arrangements are, given this sounds like a major push to bring in a significant number of people of a certain type, and its not beyond reason that other legislative changes will happen, related to this scheme..
Lots of different models, but ultimately compared to the west, even if all income, from everywhere, was liable for income tax paid in the Kingdom, it would be a lower rate.
That is very interesting what she says at 19:30 about there being no income tax on passive income earned in the U.S. under the Wealthy Pensioner LTR visa. I need to find out if this applies to the Privilege visa, too. If so, I would go for the Privilege visa.
Thailand is amazing... however my only gripe is that I wish the tourist visa was at least 90 days... while these visas are nice it's a bit high to meet the income requirements of $80k/yr...
You are right.❤
It's one of conservative Kingdom you know. Looks like they polite and vigorous but in reality, it's the country attempt to be isolated from foreign influence.
Thanks Chris! That’s exactly I wanted to know about LTR visa.
Does Stan want to adopt me? Wish I could own a home in Thailand, but I also worry real estate prices will go through the roof if they let expat to own land. Great video Chris. I always enjoy your video, looking forward to more!
hahaha.....funny comment Thomas.
very informative video. thank you. can the 250k government bond be sold back to the same exact amount of 250k, or is there price fluctuation risks?
Man this is awesome! I’m coming next month to try to figure out where to live. I really hope they make that change for home ownership 😊
We are heading there in 3 weeks. A few months of travel, then thinking of settling in Thailand.
*Do I also qualify if I will smoke 5 kg Cannabis a year?* 🤔😎🌴🌴
now that's a good investment!
Hey Chris - thank you for a great video! One question: how do you buy Thai government bonds from abroad? Not sure I understand the options.
The requirement for the $1M to be in an 'annuity' or pension fund is preposterous. If you can prove you have a $1M liquid net-worth you should be good to go imo.
Yes, the annuity or pension fund makes no sense.
It is the latter, at least USD 1 million in assets for Wealthy Global Citizens, plus the other requirements listed on the website.
@@aublumberg Solely having >$1M liquid should qualify you. >$1M + >$80k/a income requirement is stupid.
Yes you should do a video about allowed types of business allowed in Thai
The $150m requirement is stupid and will be a deal breaker for almost all potential applicants. Nice one Thailand.
Right. If I have $150 mill, I'm getting second citizenship in Monaco and the Caribbean for my investments. And I can visit Thailand whenever I like.
@@genericdeveloper3966 the requirement is that your employer has revenue of $150m.
Great video! Wish my family could move back to Thailand! Left 5 months ago and finally missing it
มันดีมากๆเลยเพื่อน
Great video Chris! This Torontonian will be in Thailand from January 6th to May 25th! No winter for me! ✈️🇹🇭😀☀️
Chris, I qualify for the pensioner visa, but I'm curious if it's based on gross or net income. Any word on that?
I applied earlier this month. I believe it is your gross income. You send them your taxes return to verify your income.
Gross income reported on your 1040
$80k a year pension ..wow..lucky man, enjoy.
@@ChrisBird1 Thanks to a 30 year engineering career. I recognize that pensions like this are rare now but less so for current retirees.
Any update on the landownership mentioned in this LTR Visa video Chris?
Thailand seems to be trying to become a home for rich only. I suspect this will fail to attract the numbers they want. Though I have the funds I have no desire to devote the funds to Thailand so I will pass.
You are smart but a lot of fool expats thinking Thailand is wonderful land which is controlling by military .
Amazing
Thanks Chris for this gorgeous update
I don't think I would feel comfortable having assets invested in Thailand. I'll have to stick the regular retirement visa. Nice options for those who choose to do them though.
This is not good option for even millionaire's stand point.
Not anymore than in US banks or any collective west's banks now a day
Thanks for the information, very well presented! What about if you already bought a condo of 250,000.- US dollar, say 4 years ago, does this still qualify for the 250,000.- requirement, or do you need to invest this amount of money at the date of application for LTR visa?
They accept the documents proving the amount you paid at the time. They only accept the amount on the official Land Office documents though, regardless of what the S&P agreement states and what you actually paid for it
Chris your the best
This is a nice interview. Thank you.
The public traded companies kinda kills it for most people. Specially from smaller european countries. Such a weird requirement, seems BOI is making another "Smart Visa", ie a flop. 1000 in a few months but want 1000000, how can that be considered and success? Weird. Better just forget about getting any type of visa for Thailand and continue going there on visa exemption.
But nice video! Cheers
And with Elon Musk purchasing Twitter and taking it private poor Stan will be out of luck 😊
"Such a weird requirement"
But it isn't so weird knowing government understands nothing about economics 😄. This is what we can expect from people working in the public sector.
Do whatever feels right to you........this LTR visa can't please everyone, give and take is a bottom line.
Smart Thai woman and keep up the good work Chris........thank you.
It's very good, friend. 10 year visa.😁😁😁🇹🇭🇹🇭🇹🇭🇹🇭
Thank you for the information
My pleasure
So actually its only a 5 year visa, due to the fact that you can only get the additional 5 years if you meet the current requirements but what if those rules change during the first 5 year stint? Reason I'm asking is that here in Malaysia under the MM2h they did the same , move the goal posts further and gave a new 10 year visa, but it can only get renewed after the first 5 years. Now in Malaysia to meet the current requirement for MM2H you need to show USD$10/month pension and deposit USD$250K in a govt FD and pay a one time fee of $16K.
that's a great question, unfortunately i don't know the answer.
I bet that there is a very good chance that you will get married within the first five years of your stay in Thailand to a Thai lady so you can apply for a spousal visa just in case the Thai government makes another overhaul to the long term visa requirement five years later.
BTW Chris I wear my beautiful T shirt 👚 I got from you last year! I love it
@@Photojouralist123 stay tuned for the next video.....merch drop!
15:30 she blurts out it has to be an annuity to pension fund to qualify, meaning anything with fixed montly payment structure
Chris, I have a few questions:
1. Is the 80k USD based on gross or net income?
2. I wonder if the 89k is subject to increases based in inflation?
3. Once your online LTV is reviewed, how long would I have before I must meet in person with a Thai govt visa official? Thanks!
You must meet to military dictatorship in Thailand they love to see westerner expats stoop and licking boots to them.
80000????? Didn't he say it was cheap In Thailand? I never speak half.of that I the UK , in Spain a fraction of that
Gross income and you have the option to pick it up in BKK or the Thai Consulate (where you live or where you noted on the application) either evisa or in person pick it up at the Thai Consulate.
You have 60 days after your application is approved to either pick it up in Thailand or get it through an embassy overseas.
Yes 60 days after you receive the official notification of endorsement qualification.
Hello Chris, where is the place shown in your video for one stop service to apply for the LTR visa❓️Thanks
Thanks for the info I needed, Chris. I think Thai govt will get realistic about requirements and then gets them halved in a couple of years or so