I Got The New Ten Year Retirement Visa In Thailand, You Can Too. Let's Discuss How! Vlog 34-23
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- čas přidán 22. 07. 2024
- #Thailand #Retirement Visa #LTR Visa #bangkok
Today is the day I got my Ten Year Long Term Resident Visa stamp. It was one of the best days of the past five years living in Thailand. Come along as Tik and I go to the One Stop Visa Center to get the stamp, and then I'll discuss what the LTR is, who qualifies, and how to apply online - Zábava
Well Done! A very useful and informative video. Thank you!
Thank you!
Congratulations, Jerry! Definitely looks attractive, especially the one-time cost. Will pursue before it comes to my next visa extension renewal.
Congratulations Jerry. Well explained in laymans terms to allow others to do their own research and checks. Just found your channel and really like it. Ticky is lovely. I met you last year at the down under. It was actually on your birthday bash. Hope to see you guys again soon. Cheers.
Thank you for the nice comments. Tikkie is lovely and we had a lot of fun at the bday bash. Look forward to seeing you again soon
thanks jerry's to show video give us agood idea very helpfull
Glad to help
Thank you for this very useful information
Glad it was helpful!
Congratulations!
Congratulations!!
Thank you!!
Congratulations dude enjoy...
Thanks 👍
great video Jerry! 21:49 still need to do TM-30 reports, this is seperate from the yearly immigration checkin's. all farang are responsible for this no matter what visa.
Thanks! It’s my understanding as a LTR Visa holder we only have to do a tm30 when moving to a new residence. We are required to do a yearly (90 day) check in but every time we leave country and come back it starts the yearly report again just like other one year visa’s regarding the 90 day report
Thumbs up 👍 Jerry
Thanks 👍
Congratulations. Been told that after 5 years you have go through the process again but don’t need to pay the fee.
After five years just need to show that we still have insurance requirements and income met. Don't have to go thru the whole process. Of course things can change in five years so time will tell what will be required
Just curious if you have done the yearly check in and what that process was. I have not left the country and will have to check in next month. I saw that a TM 95 form is what we use. I assume we show up at One Stop Service and they take care of it...
My one year is in July but I've left the country a couple times already so won't need to do a yearly check in. Not sure what form is needed, but I do remember them telling me we just go back to the BOI office and do it there. Please let us know here when you do it. Thanks!
@@jerrybthailand Will do.....
What kind of interest can be earned on required monies deposited in a Thai bank account? Are there relatively safe investment options that have a decent yield? Or is the money essentially tied up with no interest at all?
SCB Bank has a savings account that offers 1.5% interest currently. I have an account there. It's the best I've seen. Not great but better than nothing. The 800,000 can't be in other investments, must be in a bank account.
For LTR, 1) Does the financial criteria change after the first 5 yr interval and 2) What the heck happens after the second 5 yr interval... do you a. get kicked out; b. have to meet some crazy new financial requirement or c. other. Thanks in advance.
The answer to ur first question is; the qualifications are the same as when we apply. We need to show BOI that our situation hasn’t changed, we still have at least the same income and health insurance.
Regarding question 2, what happens after ten years, great question and no idea. It’s a bridge to be crossed at that time
Starting off at the BOI website is definitely more confusing than I expected. I'm doing my application remotely from the US, I'd love to see a video from your friends that did this showing the entire application process. I think a lot of people would find that very helpful.
Im traveling right now but if u reach out to me on our gmail account with questions I’ll do my best to help. It’s not as daunting as it seems at first glance
If you don't speak Thai why wouldn't you hire a legal/visa firm to help you? Are you trying to save a thousand bucks?
What's your gmail account address?
chatjbel@gmail.com Sorry just saw this request. Send me a message and I'll do my best to help you
For the LTR it's really not necessary to hire an attorney. Just takes some time to get thru the website. I have about 8 friends now that have received the LTR or in process, all done via website without an attorney or agency. But ultimately up to each individual to do what makes the most sense
Hey Jerry, good for you. Question - I'm currently working and planning to retire end of this year. I have interest/Dividend and Roth conversions totaling over $80K for this and last year on top of my salary. Since they don't count the salary, will the other passive income I mentioned above count towards financial qualification?
From what I understand, if you show 80,000 USD for the last two years from other sources of earnings not including your salary, you should be OK. But make sure that your tax return shows these various sources of income clearly so the BOI office can understand that it is not from salary.
Go to their website to get complete up to date info
ltr.boi.go.th
@@jerrybthailand OK, good to know that they verify the income via tax returns. Thanks!
So you converting pretax retirement like 401K plan into Roth401K? Is this enough to satisfy $80K passive income requirement? Conversion from pretax plan to post tax plan is not technically equivalent to passive income. More like distribution from retirement savings. I reinvest all dividends and gains in my pretax plan. This avoids taxation and accelerates wealth building.
On your tax return it shows as income since taxes are paid on it. Since it shows this way, it works towards the $80K requirement.
The LTR does NOT appear to be renewable. That is to say, once your 10 years are up. That's it. Please comment on this. If someone wants to live the rest of their lives in Thailand, what do they do when this non-renewable 10 year visa expires? It is also important to emphasize for your listeners that it is actually a FIVE year visa.. not TEN.. but it is renewable for a second FIVE year term, if the original conditions remain satisfied. Please talk to us about what that process to to renew for the remaining five years looks like.
Per Thailand it is a ten year, but we have to show after five years that we still have the income and insurance or $100,000 in a bank account per the requirements. When we get the visa we pay for the full ten years. That said Thailand has been known to change things at inopportune times so we don't know what will happen after ten years. Unfortunately that's the bridge to cross at that time.
In terms of what to do after five years, we've been told we just need to provide documentation that our original funds are still valid. Nothing else required, so we shall see. IMO and others that have it, it's still the best way to go if a person qualifies, and want's to live here long term
@@jerrybthailand The visa is very new... way too early to predict the changing landscape as you point out...The website is crystal clear.. at least for now.. NO renewal after 10 years... some may prefer a one year visa as it costs less and there is a long history of renewals... some have been here for more than 15 years. I use an agent.. so there is zero hassle factor for me. Having said that, I easily qualify for this new LTR.. so I was curious...and there is the benefit of unlimited re-entries - which saves some hassle...
Definite benefit based on each visa. At least now there's a long term option to go along with the one year retirement visa. TBD how this works out long term. Thanks for your input
Guys-go to ILCT Ltd video -Overview of the LTR you tube video (3 months ago) a rep from BOI confirms-“10 years renewable visa”
I just got approved 2 days ago
Congratulations, that’s awesome!
Jerry, I will be arriving in Jomtien in OCt, Is it possible for me to start my Work from home Professional Visa online before I arrive? Also is there an agent that can assist with this located in Pattaya area?
You can start the process prior to coming here. Just be sure to go over the rules carefully, as you will want to make sure you choose to file the paperwork and pick up the visa in Bangkok at the BOI Visa Center. There may be one in Jomtien/Pattaya but I don't have that info.
If you go to the website ltr.boi.go.th there will be a list of about agents that have been approved to help with this process. All other relevant info is also there. Good luck with the process
I did my application without an agent its pretty easy and yes you can apply outside Thailand and pick up outside Thailand or the one location in Bangkok, when you apply they ask you where you want to pick it up.
Qualification are difficult for those under 50. Mainly the committing that much capital to Thailand. What proof do you have to provide about showing this investment?
I submitted three years of my tax returns to prove income. Had no interest in buying a condo or investing in government bonds although for some it's a reasonable alternative
@@jerrybthailand Oh yes for those over 50 you dont need to necessarily invest in Thailand. All the perks in Thailand's visa regime is for those over 50
Can you refer me reliable visa agent?
What kind of visa are you looking for? If it's for the Long Term Resident Visa, the BOI website has a list of at least four that they have approved. I would start there
You must be a millionaire! I don't know of any British Pensioner who has an annual pension of around £70,000 at age 65! I am lucky that I have a combined State and Local Government pension of around £28,000 p.a. after tax. I have been here 10 years and never been stressed out by my annual visit to Immigration and even when rules change, I just go with the flow. So for my 10 years as a resident here, it has cost me only 19,000 baht and I have never had 800,000 baht in the bank as I show 12 months of 65,000 baht a month. In addition I don't have to have or prove health insurance which is nigh on impossible at 75 years of age. So the LTR visa may be ok for you but for the majority of retiree's it seems a complete waste of money, particularly as you still have to report once a year as I do. All my 90 day reporting being done on line.
Appreciate your comments
I don’t think Jerry is posting this video for Retirees. This Visa is really for remote workers that are still employed with a Publicly held Non-Thai company.
There are four types of visa's available for the ten year. They are definitely more difficult to qualify for than a one year Non Immigrant O or OA but as I said in the video, if you can qualify, I feel it's a good way to go. But again, not for everyone and I did utilize the one year OA for five years.