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

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.

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.

If you are over 50 or married to a Thai, then the extnsion of stay option in 19,000 over 10 years.

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