LTR question (if an income tax on 2024 expat remittances into Thailand isn't delayed).

If after living in Thailand six years, an expat receives an approved Pension LTR in September 2024, does the LTR tax-free exemption take place in:

1) the tax year beginning January 2025?

2) the tax year beginning January 2024?

3) beginning September 2024 (pay tax on remittances from January to August of the 2024 income tax year)?

The answer could be beginning tax year 2025, but the LTR tax exemption wording is a bit vague.

I messaged BOI and they replied:

"According to the Royal Decree, governing reduction of Tax rate and exemption of Taxes (No.743) 2022, Section 5 : Income tax shall be exempted for foreigners have been granted a Long-term resident visa derived in the previous tax year from employment, or from business carried on abroad, or from a property situated abroad, and brought into Thailand.

However, regarding the Tax matter you are advised to contact the Revenue department for more details."

From what I have heard many local Revenue department offices have not had a chance to become familiar with the LTR and might not yet be able to help.

Text from decree:

"Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work­from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment, or from business carried on abroad, or from a property situated abroad, and brought into Thailand." (Strange that here, it only mentions employment, business and property income.)

Also note that this next section says that the exemption is suspended in the tax year that you do not comply with exemption rules.

"Section 7 In the case that a foreigner has applied tax reduction or exemption under this Royal Decree, and later does not comply with rules prescribed in Section 3, Section 4, Section 5, and Section 6 in any tax year, benefits will be suspended in that tax year."

So a bit odd... if you have the exemption, you are suspended effective in the current tax year but when receiving the exemption, it is not effective as of the current tax year.

Well…. this is the best news I’ve had in a long time. Did it by myself, took about a month and a half.

Hi Guys

Can I apply for the LTV visa. I have assists of the required amount in real estate but not income.

However I will be renting my house out and will have income from rent.

I am over 50 years old

Best visa to apply for ?

Thank you 🙏

LTR wealthy pensioner visa:

Who has applied and was successful?

Tips??

Thanks 🙏🏽

Hello and thanks for letting me join. This is my 5th trip to Thailand from USA. Twice every winter/spring for the last 2 years and just picked up my 60 day entry this year Aug 25th. With a 30 day extension I can stay until November 25th.

I am retired with no family or children and trying to make it permanent this year. I turn 50 Oct 10th. My retirement is above the requirement and I have plenty in savings. I wish to apply for the retirement visa.

I have been lurking on these sites and paying attention waiting for this moment. I have seen that I need “seasoned” money in a Thai bank, then read that getting a Thai bank account is impossible on a tourist visa. I have also read that I can pay an agent and magic can happen.

So this is my direct question. What can I do, right now, this trip, between now and Nov 25th to obtain a retirement visa and stay in Thailand and not ever return to America?

Thanks in advance, I am happy to have found this group and not have to ask in an Expat group.

My husband and I are looking at the LTR visa and wondering if any of you have this visa. I’m trying to get clarity for the wealthy pensioner category. I have 2 questions I can’t seem to get answers for.

1. One of the criteria is to show a personal income of 80,000 USD/year at the time of application. My question is what classifies as personal income? Is it my current W2 which includes my current job salary and investments?

2. If I have under 80,000 in personal income, I can also put 250,000 in a Thai bond. Do you know how long I have to keep it in a Thai bond? Is it the entire time we potentially stay as residents?

Thank you in advance!

Anyone had any luck with the BOI Long Term Resident Visa process for “wealthy” pensioner? Specifically anyone with Veteran’s Compensation and FERS retirement?

Got my LTR “Wealthy Pensioner 10 year Resident Visa” stamp yesterday (5 years initially, renewable for additional 5 years, for a total of 10 years)

Very happy w the whole process which was fairly straightforward. Took approx 25 days from start to finish, and I did NOT need to use an Agent.

Cost is one time fee of 50,000 baht and includes Multi-entry permits for every year.

Basic Privileges of LTR Visa:

- 10-year renewable visa.

- Fast-Track Service at international airports in Thailand.

- 1-year reporting to the Immigration Bureau instead of every 90 days.

- Multiple re-entry permit for every year.

- Permission to work in Thailand (Digital Work Permit).

- 17% personal tax rate for Highly-Skilled Professionals.

- Tax exemption for overseas income.

- Immigration and work permit facilitation at One Stop Service Center.

I met with Visa Agent in Bkk today, for retiring from USA. We reviewed Retirement Visa, Elite Gold, and then they shared with me LTR. LTR seemed too good to be true? Any advice or warnings on LTR would be much appreciated. Thanks!

LTR - wealthy pensioner question

Anyone knows if we can include income generated from Thai real estate (in the form of rental) as Personal Pension income to fulfilll annual 40K USD or 80K USD criteria?

Thanks!