Unanswered2 years ago
Will a capital gain from selling my house qualify for the LTR visa's wealth pensioner category in Thailand?
I sold my house my house in America in 2024 for 850k. I purchased for 520k. Will this gain qualify for the 80k of capital gains to qualify for the wealthy pensioner category for the LTR visa? In America this gain is NOT taxable.
Summary so far
The community discussion reveals that capital gains from selling a house do not qualify as passive income necessary for the LTR visa's wealthy pensioner category in Thailand. Users emphasize that recurring passive income sources like pensions, dividends, or rental income are needed instead. Several commenters shared their negative experiences with the application process, indicating that past capital gains were not accepted as qualifying income. Therefore, it's recommended to explore consistent passive income options and possibly other visa types.
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Robert ********
No. It’s not passive income.
It’s the same as a job or making money from trading stocks.
Edit: only pension, rentals or dividends are passive income.
It’s the same as a job or making money from trading stocks.
Edit: only pension, rentals or dividends are passive income.
Thierry ******
Hi , LTR visa you need at least 2 years of recurring passive income like rent or dividends etc . Capital gains are normally not qualifying you should look for other visas as advised
Richard *******
OP@Thierry *****
thanks
Sharon ********
I had the exact same situation and they would not count it. It wasn’t even my only capital gains. They don’t seem prepared to accept any capital gains. They only cared about seeing income that was deposited monthly even though that is clearly not the rule. I had capital gains from the sale of a house and from the sale of stock. I easily met all the requirements but they still denied me and it took them 5 months to process it even though the websites says 20 working days.
Richard *******
OP@Sharon *******
thanks
Ian **********
You will need to show several years of passive income (Private Pension, State Pension, Income from investments if you have it ie. Interest, dividends etc), and in 5 years time, be in a position to show this income is still there at the qualifying level - applicants have this 5-year check position assessed when the visa LTR-Visa application is submitted, and processed.
Richard *******
OP@Ian *********
that is my understanding. silly. have cash but still wont qualify.Colin *******
@Richard ******
what about the wealthy global citizen option. No income required 😉
Bob **********
@Colin ******
I don’t think $850k would qualify for thatIan **********
@Richard ******
the LTR WP visa is a passive income driven one, and applicants must demonstrate that they can sustain the income threshold for the 10 year visa period
Aaron *********
Why would you take tax advice off Facebook?
Richard *******
OP@Aaron ********
the tax answer is correct. From a CPA!
Jack ****************
Off topic and if offensive you can ignore... But why do you think it is non taxable? I "retired" from real estate and if I recall it is only tax free if you invest in another property of equality it greater value. Basically, if you touch the cash it becomes taxable.
Jack ********
@Jack ***************
guess you didn’t have a successful career as you have no idea what you’re talking aboutJack ****************
@Jack *******
good job being a dick and ignoring that I was quite careful with my caveats. I also wasn't a realtor or a cpa I was an income property buyer, restorer, and operator. Different circles. And anybody who would prefer silence over a "I might be wrong, but double check that" is an arrogant fool. Looks like OP took it in the intended spirit and you are just a misfit nobody likes. Welcome to the block list.
Jim ********
@Jack ***************
The $250,000/$500,000 home sale tax exclusion - If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse***********************************
Richard *******
OP@Jack ***************
I am a CPA. 500k of gain for primary residence is tax free for a married couple. you are referring to a 1031 exchangeJack ****************
@Richard ******
Roger. Can you do that every year?
Don *********
I have been informed that capital gains from equities do qualify, not only dividends.
So shouldn’t capital gains from a real estate sale qualify, not only rental income income ?
So shouldn’t capital gains from a real estate sale qualify, not only rental income income ?
Todd *********
@Don ********
have you received an LTR using capital gains as the income source?Don *********
@Todd ********
not yet, work in progressColin *******
@Don ********
please do keep us informed, as several have been rejected for one off gains.Mark ********
If you’re over fifty why not just get a non O A/ retirement visa, at the Thai consulate in Los Angeles or near whatever big city you’re in? You can then open a thai bank account and put the required 800,000 baht into it. You’ll need health insurance also, but that’s a good thing to have. I’ve been here eight years and it’s the cheapest easiest way to get a visa if you meet the requirements.
Kristie *******
@Mark *******
please can I ask - if you keep staying year after year - you would need health insurance each year ? Just wondering if it gets hard to get ? ( health insurance ) not my problem now but thinking of the future ?Mark ********
@Kristie ******
I’ve had the same health insurance for six years and used it twice for short hospital stays. WR life. I’ll be 70 in a few weeks and I pay about $150 usd a month for 7 million baht in coverage.Kristie *******
@Mark *******
thank you - explains it clearly for me !
Sean **********
@Mark *******
non O Retirement visa there is no insurance requirement.Mark ********
@Sean *********
I said OA visa. There is an insurance requirement when you get it in your own country. I now realize what the LTR visa is. I’m not rich enough to get one!!
Sean **********
@Mark *******
I opened my account at Bangkok Bank no problems.But I understand the new problems in the past 6 months with Interpretations amongst the banks.Mark ********
@Sean *********
because is it’s almost impossible to open a Thai bank account without either a work permit or long stay visa. And when in Thailand you can’t open an account unless you already have one. Kind of a catch 22.Sean **********
@Mark *******
why not get a Non O without the insurance requirement. Is it a 1 year visa. I got the 90 day non O then extension of 1 year based on retirement. I am not rich either to get a LTRTodd *********
@Mark *******
you just listed all the reasons for ‘why not’. It’s absurd. Who would leave 800k in a bank acct doing nothing? LTR ensures no tax on income outside the country. And it’s cheaper than a multi-entry non O-A. Plus no 90 day reporting, plus fast track at airports. Never see immigration or bank offices again.
Mark ********
@Todd ********
I didn’t realize what the LTR visa was, I’m not rich enough for that one. And why do you need a multi entry OA when you can pay for a re-entry permit on a regular O or OA visa?
Todd *********
@Mark *******
it does have a high threshold unfortunately. Not sure why they set it that high. But amazing visa for anyone who does qualifySean **********
@Todd ********
I get interest on my accountTodd *********
@Sean *********
uh-huh. 1%? Less?
Robert ************
@Todd ********
my bad what is ltr and how much does Ltr cost how long good for?Todd *********
@Robert ***********
It's a 10 year residency visa for Thailand. Cost is only 50,000 baht for 10 years. **********************
Robert ************
@Todd ********
what is lyr and how much is lyricsRichard *******
OP@Mark *******
already have. ltr ensures no tax issuesBob **********
You’ll also need to re qualify after 5 years why not just invest in the states and get a non- o
Todd *********
@Bob *********
you mean show a screen shot of your income. Maybe. Non-O is Nonsense if you qualify for LTR. Unless you love wasting time and moneyBob **********
@Todd ********
that’s up to you go with what works for youTodd *********
@Bob *********
yes, you did. Pay attentionBob **********
@Todd ********
I asked no questionTodd *********
@Bob *********
you asked the question. Now you have the answer. LTR it is if you value your time and money at all
Us *****
Just get a dtv
Todd *********
No, I don’t believe so. capital gains are difficult to use in the equation as it’s a one off event. The income doesn’t need to be taxable. It just needs to be sustainable.
I think if you could demonstrate trading or similar that resulted in consistent income, you may be able to make a case. Reach out to the BOI either by phone or email and ask.
I think if you could demonstrate trading or similar that resulted in consistent income, you may be able to make a case. Reach out to the BOI either by phone or email and ask.
Colin *******
@Todd ********
I would think that anyone making consistent capital gains, would be classified as trading and thus probably taxable. Even selling a house every year would in most jurisdictions be taxable income. IMORichard *******
OP@Todd ********
i will contact them. thanks
Wallace ******
No. Passive income only.
Colin *******
They will want to see 2 years of passive income, and IMO a one off capital gain will not be considered income. However as there is no upfront fee, why not try it and let us know how it goes. I'm sure there would be many in similar circumstances..
Richard *******
OP@Colin ******
says clearly capital gains qualify tooColin *******
@Richard ******
yes, if trading and making regular gains, they may accept that. Generally a gain on the sale of a primary residence is not going to be considered, IMO. However, if it was taxed and you can show two years tax returns that would strengthen your case. It's a minefield. And any gains in a trust account will not be considered.Colin *******
@Steve ********
IMO, no. Look, they are asking for evidence of an ongoing passive income stream. One off events are not going to cut it.
Steve *********
@Colin ******
what about an inheritance?
Graham ******
@Richard ******
one-off though?Richard *******
OP@Colin ******
thank youActivity
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