For a Global Wealthy Citizen applying for an LTR Visa, is it necessary to meet all three requirements or can just one be fulfilled? Thank you in advance.
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TLDR : Answer Summary
The post discusses whether Global Wealthy Citizens applying for the Long-Term Resident (LTR) Visa in Thailand must fulfill all requirements or if meeting just one is sufficient. Comments clarify that while the minimum income requirement has been removed, applicants still need to meet the other criteria, including a health insurance requirement.
LONG TERM RESIDENT (LTR) VISA RESOURCES / SERVICES
it includes the amount you must invest into Thailand. I specifically asked BOI this question. Also for the qualifying assets, this is from the LTR website: "Evidence of global asset ownership of no less than 1 million USD (cryptocurrencies, tokens, gold futures, amulets, arts, designer items, watches and jewelry are NOT accepted)
Note: Documents must be in Thai or English only, translated documents must be notarized"
BOI is more than capable of doing currency conversion for assets. I don't know how they value assets that might change value frequently.
Reply to
Pui *****
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Wayne ********
Jim Ramsey are you following this post?
Dwayne ********
If had a million dollars or made 80K monthly (remote) consistently, would move to the Philippines.
Dwayne ********
Guessing the 90 day reporting is still in effect for life in Thailand.
it's all good. 😊.. it's Facebook. Sometimes the responses are for good laughs. As long as someone can provide the useful information it's worth the ask.
Yes, thinking it through the issue for me would be the Thailand Investment no matter how I look at it I'm not ready to lay those kind of assets in Thailand, would prefer to hold my assets in US. Best path for me will be retirement visas.
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David ******
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Ken *******
Just put all your money in an envelope and mail it it in, and wait for an answer. :)
Greg *********
I’ve had a million dollars a couple of times, but I spent it all.
The health insurance requirement is waived if the applicant has deposited and maintained at least USD 100,000 in bank account balance under the applicant’s name during the past 12 months. Which almost any LTR Wealthy Global Citizen would have.
Reply to
Pui *****
Reply
Robert *********
Based on this, what discounts can you provide me on the bus to Pattaya?
The health insurance requirement is waived if the applicant has deposited and maintained at least USD 100,000 in bank account balance under the applicant’s name during the past 12 months. Which almost any LTR Wealthy Global Citizen would have.
I am sure many people who would consider applying in the wealthy global citizen category are multi-millionaires who would never let their bank account balance fall below $100K or even $1 million. You don't think people with money keep that amount simply as everyday balance for expenses? Lots of wealthier people spend close to that $100K within a couple of months. There are plenty of interest-producing accounts they might have the money in that would meet BOI's requirements.
Unless they are ridiculously wealthy + lazy they would not do this. If they've worked hard for their $ they don't give up thousands of $ per year. If you think savings accounts provide a competitive return, good luck to you. I guarantee that the vast majority of wealthy pensioners would not do this.
I don't think you understand my point. $100K USD is less than what wealthy individuals must keep in their current account just as an everyday expense account, since it isn't weird for them to go through close that much every month or two. It is the equivalent of how a middle class person might normally have $8000K in their bank account to pay that month's mortgage or rent, car payment, bills and living expenses. For wealthy people (and I know quite a few), monthly expenses can be well over $75K a month, so having $100K in the account is not even slightly unusual since no one draws accounts down to zero unless they are low on money. Since monthly expenses may vary by tens of thousands of dollars, it isn't strange to keep such a balance.
thanks for the information. Yes, had to read into the details a bit more. It's clear now. They want you to be wealthy invested into Thailand as well. Which 100 percent makes sense.