Answered4 years ago
What are the details and implications of the new LTR visa application process in Thailand?
In preparation for the new LTR visa applications to open on September 1st, the Thai Embassy in Washington DC has published some information on their website.
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They list their fee at $1600. At today's conversation rate, that's approximately 57,000₿
I find this incredibly unreasonable given the official fee for this visa is 50,000₿. I know embassies and consulates are notorious for giving bad exchange rates, but over $200 seems ludicrous.
At the webinar the BOI held last week, they said they were still in negotiation with immigration to allow people to receive the LTR inside of Thailand after pre-approval from the BOI. I sure hope they come to an agreement because that's definitely the route I'll take to save 7000₿.
[members only]/
They list their fee at $1600. At today's conversation rate, that's approximately 57,000₿
I find this incredibly unreasonable given the official fee for this visa is 50,000₿. I know embassies and consulates are notorious for giving bad exchange rates, but over $200 seems ludicrous.
At the webinar the BOI held last week, they said they were still in negotiation with immigration to allow people to receive the LTR inside of Thailand after pre-approval from the BOI. I sure hope they come to an agreement because that's definitely the route I'll take to save 7000₿.
Answer summary
The new LTR visa, available starting September 1st, has raised concerns about its high processing fee of $1600 (approximately 57,000₿) by the Thai Embassy in Washington DC, significantly above the official fee of 50,000₿. Discussions during a recent BOI webinar mentioned negotiations to allow LTR visa issuance within Thailand after pre-approval to reduce costs. The visa is valid for 10 years and requires significant financial qualifications, sparking dialogue about the accessibility of this visa for non-wealthy applicants.
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Pui *****
While no one wants to pay more than necessary, I doubt many people who have the $1 million USD assets and half million to invest in Thai government bonds, or who meet the other wealthy individual qualification criteria would be overly concerned about 7000 baht as they likely make that much in income in a few hours every day, and easily spend that much daily in their everyday lives.
Brandon ************
OP@Pui ****
2 of the 4 categories don't involve being wealthy
Glenn *********
This looks like another elite visa? What about us "Jenny-on-the-block" types who are neither wealthy, nor stinking of patchouli oil? 😃
Alex ******
@Glenn ********
We will have to wait and see if visa agents and their immigration pals manage to make some 'special' deals for us who doesn't qualify... as they always do ;-)Brandon ************
OP@Sallec ***
you can only get this visa through BOI approval. When is the last time you saw an agent bribe someone for a SMART visa? Not possible.Austin *********
Long term visa? Did they say how long? I didn't see the length of time this visa will be valid from.
Brandon ************
OP@Austin ********
it's a 10 year visaAustin *********
@Brandon ***********
ok thank you for the information.
Dimitri ********
"Investment of at least USD 500,000 in Thai government bonds, foreign direct investment, or Thai property" In some countries you can get a new passport for less than this.
Randy **********
@Dimitri *******
the one prior was 10mil baht...
THAI ******************************
Main site is here
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Frank-Steven ***********
They said they were in talks about being able to get the visa issued at local immigration offices, yes. But you would certainly be able to get the visa at their One Stop Service Center in Bangkok, at the original fee of 50k baht. So no need to bother with a consulate overseas, then. May I ask which of the categories you will apply for? Are they helpful thus far?
Brandon ************
OP@Frank-Steven **********
they still need approval from immigration to be allowed to issue the visas inside the country, even if it's at their own office. I am planning on applying for remote worker in Thailand. So far they've responded to emails quickly and even pre-reviewed all of my documentation to tell me if they believed it's adequate to apply (pending final rules publication).
Frank-Steven ***********
@Brandon ***********
Have you seen the list of required documents? Quite some documents to gather and send in: ****************************************************
John *******
@Brandon ***********
OK thanks yes I seen that.Brandon ************
OP@John ******
last week on the video call they mentioned they've been super busy. The woman said she is meeting with a large group of japanese Monday to discuss the LTR. I'm pretty sure they don't have much staffJohn *******
@Brandon ***********
I sent my docs in last week for pre approval and I've heard nothing at all. I might go down there tommorrow and ask.Till ******
@Frank-Steven **********
Yes, you are right, I checked it again.Frank-Steven ***********
@Till *****
I doubt, though, that the LTR Remote Worker visa requires the WP46 form you linked. That is for Thai companies to hire foreign staff.Frank-Steven ***********
@Till *****
Yes. The requirement to have a work contract with either a publicly listed company or a private company with combines revenue of at least 150m USD is "nuts", indeed, as it excludes many (if not most) otherwise qualified remote workers with high income. Most of those big, traditional companies would not allow their employees to work remotely from abroad. So, yes, for the many nomads, one can only hope that this criteria will be revised (or completely get rid of) in the near future. Thailand really should not care what type of company people get their money from - as long as they can demonstrate sufficient income.Till ******
And dont forget, the immigration like to check your current employee status/income every year again... If something will change, you will lose your LTR Visa. (See retirees)
Till ******
@Frank-Steven **********
80k over the past two years is easy to prove with tax income letter... For me - and the most - is the barrier with the company which minimum have a revenue over 150mio. This is nuts. And come on, the Elite is not so expensive for people which are earning more than 100k usd a year and really like to live in thailand. I will not apply for the LTR, because I am sure my current employe would not fill out a foreign country Form. And you need filled out the WP 46 ***************************************************************************************************
*****
bc7c.pdfFrank-Steven ***********
@Brandon ***********
Thanks for sharing those insights, mate. I might send them my collected documents as well to have them do a pre-check.Brandon ************
OP@Frank-Steven **********
my job has an employment verification portal (normally used for things like apartment rental applications and the like in the US) so I just printed out one of those. This covered both employment history and salary. I also sent my tax returns for the last 2 years as well as transcripts from the IRS.Frank-Steven ***********
@Brandon ***********
Nice. So you are on your way. What kind of proof did you send in regarding your current employer? A letter from them confirming you work there? And how did you proof your yearly income above 80k over the past two years - some tax statement?Brandon ************
OP@Frank-Steven **********
yes, that's the list they sent me for pre-review. I got everything together in about an hour. The only thing I didn't send in was CV because that's stupid (I've had the same job for 5 years, not going to update my resume just for this), and insurance. They said everything looked good, and reminded me that I'd need to show insurance for the actual application.Activity
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