Does anyone know about this visa (LTR) especially on the tax exemptions for a remote worker earning over the threshold ?
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TLDR : Answer Summary
The LTR visa in Thailand provides significant tax benefits, including a 0% income tax rate on foreign income for eligible remote workers. However, there are strict requirements that often limit eligibility, such as needing to be employed by a publicly traded or a large private company with substantial revenues (at least USD 50 million over the past three years). Many expats find this visa beneficial but face challenges regarding corporate transparency and documentation requirements.
LONG TERM RESIDENT (LTR) VISA RESOURCES / SERVICES
Pretty hard to get because, at least for the remote worker, you need to have a public company. For a large private company, it's hard to ask your employer to disclose the finances. I am well above the income threshold but my venture backed series A company hasn't made 50 million in revenue in the last 3 years. So I'm unqualified lol. I wish they remove the company revenue requirement and base it on high income.
If you work for a private company they probably will not agree to submitting the required financial audit documentation as it's confidential. If it's a public it's straightforward as long as the company revenue and your salary both meet the requirements.
Very good visa if you qualify. The 0% on foreign income is great as is the 17% flat earned in Thailand. I was on a 15% flat rate on a BOI Visa and WP. It makes a big difference. Our Thai staff were taxed at a higher rate than us.
What exactly is your question? Yes foreign income is exempt from tax on the LTR. But the LTR comes with narrow requirements in the remote work category - as in you need to be directly employed for a publicly listed company (or a very big private one).
What type of company you work for? What is the company’s annual profit? There are strict requirements related to this, if you want to apply this route. I was rejected because the company I worked for was neither private nor publicly traded, but did meet the income/profit requirements.
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