Is the new Thailand 10-year LTR visa for pensioners worth it and can I apply while on a non-immigrant OA visa?

Sep 26, 2023
a year ago
Mikko ***********
ORIGINAL POSTER
I have not seen any negative comments/feedback about the new (since Sept 2022) Thailand Board of Investments managed 10-year LTR visa for pensioners; even the initial cost of thb 50,000 is not so bad over a period of 10 years. I wonder if it is as good and flexible as it sounds? And if it is possible to apply for it while on a valid non imm OA visa?
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TLDR : Answer Summary
The Thailand Long-Term Resident (LTR) visa for pensioners, launched in September 2022, is seen as a favorable option for expats over 50 or married to a Thai national, with a reasonable application fee of 50,000 baht for 10 years. Current holders report positive experiences when transitioning from a non-immigrant OA visa, although some present drawbacks include uncertainty about the 1-year reporting process, potential issues with fast-track passport control, and additional fees for dependents. Overall, while there are some limitations and areas for clarification needed from the BOI, many expats find it a worthwhile option.
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Marty *********
I was on an OA visa extension and applied for the pensioner LTR last October while inside Thailand. I got it in January this year. It took a while to process but otherwise was very easy to apply for. I love it. I know half a dozen other guys that have it. I posted a detailed description of the experience in this group last January.
Dave *********
@Marty ********
is the income/assets requirement based on “Adjusted gross income” or “net income” based on the tax returns? Most of my income (except for $2400/month is from SSI) is from all my investment property rentals, therefore it requires about 30 pages of tax returns and a lot of calculations of expenses and depreciation. Just wondering exactly how they require the proof of funds? Do they just submit 2 years of tax returns?

“Personal income of at least USD 80,000 a year at the time of application”. Is this net or adjusted gross income?
Marty *********
@Dave ********
They want passive income. In my case my work pension qualifies. All the BOI needed to see was my US tax return. There was nothing complicated about my income.

I have read others describe using income such as you describe but I have no personal experience. I would suggest to follow the LTR discussion on the website Aseannow and of course contact the Thailand BOI directly. It’s worth a try.
Louise *********
@Marty ********
did you have to exit/re-enter to get ‘off’ the OA visa and on to a free entry stamp before you went to Bangkok to get the LTR-P visa in your passport?
Marty *********
@Louise ********
No. The BOI office handles everything along with the Immigration desk across the hall. After the LTR approval I made an appointment with the BOI office just after New Year. The whole process took about 2 hours.
Louise *********
@Marty ********
thanks for your reply 😊
Brandon ************
I love having it, but there are some minor negatives.

1) Uncertainty. No one knows how the 1 year reports will work (the first people are about to find out) and no one really knows how the year 5 re-qualification will work. We just have to hope things work out well.

2) Year 5 re-qualification. As I said no one really knows how this will work. What some of us have been told is we have to submit the application all over again, except this time we don't pay. But even if I didn't qualify again, I'd be happy with only 5 years worry free for 50,000 baht.

3) TERRIBLE exchange rates if you purchase from the embassy instead of in Thailand. I decided to purchase mine in Thailand because it would cost exactly 50,000 baht. If I had purchased it from the embassy in US it would have cost about $300 more.

4) Departing Thailand. Have to fight and argue for my ability to use Fast Track on departure every time so far. They have to call over supervisors who finally agree.

5) Arriving to Thailand. So far the fastest time upon reaching the counter has been 15 minutes. The passport control officers take forever when checking the LTR and two times I've had them call over supervisors, one of those involving 2 levels up. After which I'm stamped in as normal. You would think the Fast Track passport control officers at the arrival desks would be better trained and expect to see these visas.

6) 1-year reporting instead of 90 day reporting. This basically means if you leave Thailand even once a year you will never have a TM47 report. The only issue is that there are some times where you must have one. For example to get a drivers license at the DLT in Bangkok you must have a residence certificate. The Bangkok immigration will not provide a residence certificate unless you have a TM47 receipt, which I will never have. No clarity from the BOI on how I could get a drivers license or residence certificate, so I did it in Chiang Mai where getting a residence certificate only requires a TM30.

7) Dependants. They don't say it outright on the website but each dependent is also going to cost 50,000 baht. So if you have a spouse and 2 kids for example, that's 200,000 baht total for everyone.
GL ******
@Brandon ***********
1) & 2) it will be what it will be, 3) & 7) was so happy at how easy, fast, cheap & friendly the process was - didn’t mind eating the exchange premium & embassy service fee. Dependents fee was clear. 4) & 5) I asked Boi about this & worryingly they said only works in BKK not the rest of the country yet. But if any issues get the officers name & send them an email straight away & they will deal with them … yah right!! 6) trying to understand this process now, thanks for the insights.
Mikko ***********
ORIGINAL POSTER
@Brandon ***********
Thank you Brandon, excellent feedback, especially point 6.
Brandon ************
@Mikko **********
nothing in my list would prevent me from doing it again. It's a great visa!
Louise *********
@Brandon ***********
we are just in the final stages of my Husband’s LTR-P visa with myself (Wife) and Daughter as dependents. I thought the 50,000 baht for the primary LTR-O visa covered the dependents, but you are saying it is 50,000 baht each? Thanks for your reply.
Brandon ************
@Louise ********
You might want to double check with the BOI. As they now state on their website that the children cannot have a dependent LTR beyond age 20. So if they are potentially not allowing the full 10 years of the LTR visa, they may not be charging now.
Louise *********
@Brandon ***********
thanks for your reply. That’s exactly what I was wondering, as our Daughter is 16, so is only eligible for less than 4 years. I’ll check with BOI. Thanks again.
Paul *******
If you are over 50 or married to a Thai, then the extnsion of stay option in 19,000 over 10 years.
Paul *******
@Doug *****
I can see and accept the advantages. I do not need reentry permits because I am old and do not intend to leave Thailand.
Doug ******
@Paul ******
Add to that the cost of the multiple re-entry permit of 38,000 over 10 years and the cost is less. It’s also a lot less hassle… no banked money in Thailand, includes re-entry permit, no 90 day reporting (it’s 1 year), etc. It also specifically has an exemption on tax on overseas income. I’m in the process of applying now.
Tod *********
@John ******
i linked to the website in my first comment

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John *******
@Tod ********
cheers Tod
Tod *********
@Paul ******
you can't even begin to compare those extensions to that LTR. 😕

Those (marriage/retirement) are hoop jumping, paperwork intensive extensions and you fool with it EVERY year all over again plus do 90 day reporting 🙁

That LTR is a trouble free 10 YEAR visa and every single person I know who went from retirement visa to it has been just over the moon on how great it is

I don't know a single person who has anything negative to say about it OTHER than sometimes the approval process is a bit convoluted but once you are approved it's like the gold standard for visas here
Michelle *********
@Tod ********
can it work also with a trailing CDN spouse?
Mike ********
@Tod ********
really good point as the marriage visa seems to be wayyyyy outdated in its design. I'll be looking into this visa for the future, thanks.
Tod *********
Granted it's not for everyone 🙂

BUT

it's really a pretty darned good visa option if you meet the requirements

AND

you can do it by showing funds in YOUR country 😮 even if you apply for the visa in thailand
Tod *********
Unfortunately that visa did not live up to the expectations of the BOI or thailand and I think world wide they've sold like 4000 or so since it started 😮 and almost ALL of those have been the wealthy pensioner category.

That doesn't mean it is a bad visa to get, just didn't sell well

Totally works exactly like they sell it, You apply using the BOI website, you get approved, you show up there and they ink in a visa good for 10 years with a admitted until stamp good for 5 and a multiple re-entry permit good for 5..

NO ONE knows what happens when that 5 year stamp runs out because the visa hasn't ran long enough.

No problem applying on an OA visa/entry or extension. You MIGHT have to exit/re-enter to get OFF that OA and on to a free entry stamp to get the visa inked in here at Cham Churi Square LTR headquarters in Bangkok. <- BUT I don't know honestly

I do know of 20-30 people who went from "retirement visa" to the LTR wealthy pensioner visa but I don't know anyone who did it from an OA

On their website they have "authorized agents" contact them OR email LTR directly and see what they say

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