Answered2 years ago
Is the income requirement for Thailand's wealthy pensioner LTR visa $80,000 gross or net?
LTR for wealthy pensioner, $80 k USD gross or net? TIA
Answer summary
The income requirement for the Wealthy Pensioner Long-Term Resident (LTR) visa in Thailand is $80,000 gross, which means it is the amount before any taxes or deductions. This has been confirmed by multiple users who have gone through the application process, although there is some debate about whether the official documents clearly specify this. The income must come from passive sources, and applicants should provide an official income tax return as part of their application. For further clarity, contacting the relevant Thai authorities directly is recommended.
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David ******
@Ernesto *******
hence the original question NET or GROSS. One day when you get that kind of money you will understand you want to have as little money per year as possible. Talk with a wealth manager you will understand. We are trying to be as poor as possible each year. At least that is my goal.Ernesto ********
@David *****
of your trying to be poor , looks like you are thereDavid ******
@Ernesto *******
thank you, I appreciate that. I'm trying to be poor. I'm actually paying people to make me poor. Maybe one day you will understand.
Tohksic ******
Lol, a NYC garbage man makes more.
Todd *********
Gross. Go ahead and submit your application regardless. If they need more documentation, they will ask. Nothing to lose at all
Giovanni ****************
Gross
Joe *********
Gross
Marty *********
Yes it is best to contact them. I have a pensioner LTR. It is 80k gross before taxes.
You can submit an application and you don’t pay unless you are approved first.
You can submit an application and you don’t pay unless you are approved first.
Ruth *******
@Marty ********
but you need to purchase insurance that meets their criteria (My insurance goes Jan 1 - Dec 31, so it does not) before applying and they’ve been unwilling to answer my question regarding income before application :-(.
Brandon ************
@Ruth ******
you don't need any insurance before applying. The application specifically says you can leave the insurance section blank and then fill it in after your provisional approval before you get your full approval letter when you choose how you want to pickup your visa.
Jeff *******
@Ruth ******
It may also add some mud. I was told funds wise I was well over the line but it was in the wrong places (equities/pensions/cash) - cash is useless for the LTR visa, and if I applied it would be turned down. The fact I don't need to work and thus have no tax return fried their minds and said it would fail on that alone. When I pointed out surely someone who has enough they don't need to work, must be in a better position than someone who needs to, I just got blank stares. Also they couldn't get their head around (as a brit) that I don't do a tax return each year as the vast majority of retired people don't need to.Ruth *******
@Brandon ***********
fantastic! I had not read the application, since I wasn’t ready to apply:-). However, good point…the application itself may clarify some of the muddy areas. Thanks.Marty *********
@Ruth ******
That sounds like it might be correct. I was switching from an OA to an LTR so I already had the insurance and still have it. Another option is having $100,000 in a bank account anywhere.Ruth *******
@Jeff ******
if one has $100K seasoned in the bank, one doesn’t need to purchase insurance.Marty *********
@Jeff ******
It is an insurance option.Jeff *******
@Marty ********
$100k alone in a bank account won't get you an LTR visa unless they've changed the rulesRuth *******
@Marty ********
I think it needs to have sat for at least a year (it might be 2 … can’t remember off-hand).
Frank-Steven ***********
That is a very good question. It does not seem to be specified on their website, weather is PASSIVE income before or after tax deductions:
"Official personal income tax return as filed to state authorities such as P.N.D.
40,000 USD per year."
Source:
If nobody here knows for sure, best to contact them and ask - they are usually quick and friendly to respond.
"Official personal income tax return as filed to state authorities such as P.N.D.
*****
, BIR60, Form 1040, Form W-2, SA100, T1 General etc. showing income of no less than 80,000 USD per year in the past year or at the time of application For the wealthy pensioners category specifically, only UNEARNED or PASSIVE income such as interests, dividends, royalties, rental income, or other types of passive income are considered for the application. Documents provided for this item must show an income of no less than 80,000 USD or40,000 USD per year."
Source:
*******************************************************************************
If nobody here knows for sure, best to contact them and ask - they are usually quick and friendly to respond.
Dave **********
@Frank-Steven **********
Gross
Jeffrey *********
@Frank-Steven **********
People have been asking this since the program started, and BoI has been very clear that the figure is for gross income. Which makes sense, since otherwise a person paying for insurance or tax by payroll deduction would be treated quite differently from someone paying those expenses separately, even though the two situations are actually identical.Frank-Steven ***********
@Jeffrey ********
I agree with the reasoning - at least partly. Actually, one could also argue that Thailand should only be concerned with how much net income people have available to bring into the country. But I am not one of those. Still, I strongly disagree with BOI beeing "quite clear" on this. If they were, they would mention it on their website, or at least in their detailed requirement documents. 😉
Bob **********
My friend got his yesterday and yes it’s $80,000 gross
Jim ********
Gross. Before Taxes. Before Detuctions. $80K
Braulio *********
wealthy who cares
Mathew *********
@Braulio ********
Ernesto Galvan you’ve completely missed the boat on this one, I suggest you leave the group, Visa advice isn’t for you
Cissi *********
@Braulio ********
It is the actual name of the LTR categories of visas...
Bigd **********
OP@Braulio ********
it's what it's titledErnesto ********
@Braulio ********
80 k ain’t wealthy. Barely making in US or BritishErnesto ********
Learn to read the comments. Not the brightest bulb are ya
Ernesto ********
Ok dad. Sorry. 😢
Tore *********
@Ernesto *******
whats up with the id*ot comments today. OP didn’t name the visa, thai immigration did 🤦 Its the requirement for the visa with said name….Tore *********
@Kim ********
🤦 The initial post even mentions.“LTR, wealthy pensioner” as in “Long Term Resident VISA” written right up ther⬆️ at the start, right now, not in a reply!
We are obviously talking about visa requirements, not “being wealthy” or not lol.
Kim *********
@Tore ********
seems you skipped some words during your reading - wealthy was mentioned in the original post and wealthy is mentioned in the description of the LTR included in another replyTore *********
@Ernesto *******
no-one was talking about “being wealthy”. 😅 Not the sharpest knife are you?Mathew *********
@Ernesto *******
you’ve completely missed the boat on this one, I suggest you leave the group, Visa advice isn’t for youErnesto ********
@Tore ********
ok. If that makes you feel wealthy then go for it.Tore *********
@Ernesto *******
and yet that is the requirement for a visa with the actual name “LTR wealthy pensioner”🤦. Do you even know what group you are commenting in?….Ernesto ********
@Tore ********
what up with the idiot response? I said 80 k ain’t wealthy. Reread.
Steve ******
@Braulio ********
Thais.
Brett *****
What
Nigel **************
LTR?
Bradley *********
@Nigel *************
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