Major companies don't provide a more stable career than a smaller company. Elon Musk just took over Twitter no more remote workers and 75% of work force is now fired.
Hi, can you do a video about this LTR Visa vs Elite Visa? Would love to see the differences or similarity between the two and to compare to see which is better.
OPTION A - Only 1,900 Baht ($55.82) for an Annual Retirement Visa (anyone over age 50) plus 800,000 Baht ($23,506) in a Thai bank - VERSUS - OPTION B - $80,000 annual income, $250,000 in Thai Govt Bonds or Property + 50,000 Baht in fees ($1,470) Take OPTION B, if you have more money than sense!
Hi Chris great video! My wife and I have just been approved for the LTR and have went thru the entire process. We are in the work from Thailand category, the process was fairly simple and was all completed in under 20 days. There is a little more complexity to it when you get the Notification Letter for Qualifications Endorsement, you must choose where you go pickup your visa (Bangkok OSS or Royal Thai Embassy abroad). The choice also affects the cost (50,000 baht) and how the initial entry into Thailand goes (visa on arrival, tourist visa vs LTR fast track). If we chose to pick it up in Bangkok we would have had to get entry via visa on arrival (we are US citizens) and then transfer that to the LTR at the OSS office in Bangkok when we picked up the LTR visa. There are also optional and case by case based documents for proof, we had a couple of those but they are all listed and fully documented (ie. audited corporate's annual financial statement for the last 3 years). Your video is a great summary video and I wish your video would have been around before we started the process because it would have saved us a lot of time. Love the videos and hope to make it to a subscriber meetup some day!
Hi, your story is adorable. I am apply the LTR wealthy Pensioner but BOI staff request non-criminal record but don't send a request letter for me to obtain the record. did you receive request for obtaining non-criminal record in the process of your application? 😊 thanks in advance.
For retirement - you need to have $80K USD per year or an investment fund of $800KUSD - this is quite high. I believe the total cost of living in Thailand might be less than $25K so I think they need to reduce the $80K threhold
They know their countries cheap living price merit but they need to limit the numbers overseas and take advantage as much as possible. Try to require only wealthy people move into the country, not decent dude.
I think it's not them who have to lower the threshold, it's the foreigners who have to lower the threshold. This type of visa is just one option out of all. So if you think you can't reach it, You need to look at other types of visas.
Great video Chris. Applied for the LTR on 22 September. Got the visa stamp on 4 November. Your video answered all my questions Khun Kanterot is great. All the BOI staff I interacted with were warm and friendly and seemed to want me to succeed. The software was very fit for purpose.
One of the Clearest and Concise video on the subject matter. Questions which really hit the mark !!! Fantastic. Ms Laopradith is on form and on the dot with all her response with the questions posed. Very impressive indeed.
Agreed, great vid! One requirement that was not touched upon was the health insurance - it ain't cheap for foreigners / retirees. Is it possible to get this once your in Thailand?
7:52 Miss Kantarot’s humor with Chris is PHENOMENAL!! She is so witty, charismatic, yet informative and fantastic representative of our beloved country!😂🇹🇭💖
Although I now qualify for the LTV as a pensioner I still prefer the relatively simple Retirement Visa. I lived here for 5 years under that program of $800,000 Thai baht deposit into my own Thai savings account, 90 day reporting (not a big deal) and 1900 baht annual renewal with basic information. I don't want any Thai bonds or real estate for that matter as I enjoy simply renting and moving around the country. Plus I don't really want all my tax/financial info in Thai govt files. Great video Chris!
I too think the current Retirement VISA is easy and cheaper. 90-day reporting isn't difficult, but annual renewals are sometimes a challenge due to unspecified changes. I have the income needed for the LTR VISA and might apply to see what happens.
Trusting a Thai bank with your money is worse than having it on a crypto exchange. You might be gone for a couple of months and when you come back, is not there anymore. Good luck getting it back. Nobody in the bank will even talk to you.
Not sure why anyone who isn't angry at their money would tie up 800k in a Thai bank at 0.25%. That money could easily make 5% in many nations and you are missing out on 40k baht annually. 90 days reporting is no big deal for sure, but no reporting is much better. For LTR pensioner you don't need Thai bonds or real estate. You simply need to have adequate income.
We are retired people and we would apply for Thai Elite Visa options for long term stay like 5, 10, or 20 years without any incomes requirements if we want to stay there. For now, we are hopping around to some of these free visa countries like Mexico for six months, 3 months for Malaysia, Taiwan, or Korea with the US passport. There is always an option in life with pros and cons no matter where we live. Be kind, be cool, and be happy!
@@TheH00kie just looked it up - the vote was passed - 40 million baht minimum required to buy a max 0.40 acre site and can only be in Bangkok or Pattaya. Way too expensive for my tastes.
I was in Thailand in September, I don't see one million MILLIONAIRE'S applying for this visa, they need to decrease the requirements in order to achieve 1,000,000 applicants.
@@travelingsober In 2 months they've had only 1000 applicants. There's ZERO chance they're getting anywhere near one million over 5 years. It's far too exclusive and a total failure.
I know. This is not better option than 10 years Elite VISA. Those millionaires probably move to Mediterranean countries or Latin America instead with this requirement.
The Work-From-Thailand requirements for remote workers is crazy. I'm using a sub-contract system, in order to legally work in Thailand with a WP while the company is actually is in Switzerland. Before that I worked in a local Thai company paying 35% tax for 5 years. I have several friends from SEA and India who are upset and moving back, due to the crazy LTR requirements. I would qualify for the highly skilled professionals income requirements, but the base company is abroad. So even though I am highly above the minimum income requirements and fluent in written and spoken thai after 6 years I will move back to Switzerland, due to the really weird conditions. Maybe as a retirement destination or holiday destination yes, but to live one's life here? I changed my mind :)
@@hellotheregeneralkenobi365 Because the company probably is unaware they subcontracted the contract and hence could not provide documents being required. The contracting company meanwhile, may not meet the big revenue requirement as well as publicly traded listing requriement.
Facts. I have a digital branding firm in the U.S. but live in Jomtien. I'm involved in helping Thailand reach its goal of 79,000 foreign AI professional hires. Helping the Embassy, the Thai IT firms, the minister of digital economy. I'm hoping they grant me a Smart 'S', to facilitate my staying & working on that. We'll see. It's almost a must in my proposal.
Price for this visa to UK Applicants is £1,500 GBP (London Embassy/eVisa) - so at current exchange rate, it's more like 65,000baht, rather than the quoted 50,000baht.
@@poorlybuffalo555 What is a contract? I do not know about any employment contracts in the US. All employment is at will, with 2 weeks notice period. It will be interesting to see what happens when Stan loses his job after getting the LTR visa. Does the annual verification check this again?
Normally i don't take joy in people losing their jobs, but. For Twitter employees i made an exception. You guys ought to see that Tiktok clip of a day in the life of a Twitter employee. It's a literal adult-daycare and people wonder why, why Twitter is in such a shape, all their employees are adult-babies. That company needs to be reduced to virtual particles.
I had a totaly different picture of Thailand, the people are so friendly and nice and the government seems to do what is best for people, I like this a lot, thank you and also to the Thai lady who explained everything, this is gold information. Have a good day
For those wondering, Thai Government Bonds are currently rated BBB+, or "Stable". So it could actually make up the bond allocation in your retirement portfolio.
@@thaisupport8378 It used to be, but lately I 'm looking into the Philippines and Vietnam for long term (years/retirement), and short visits (weeks/months) to Cambodia, Thailand, Malaysia, Indonesia, Singapore.
Great interview/info and it is a start in the right direction. However, the requirements seem high and they would get a lot more "wealthy" people to signup if they made it a bit easier where you still would get people with $$ to come and spend in Thailand. I would simplify it...if you make 3-4K a month regardless of the source of income you can get the visa and just update the docs yearly. In that case you'd get a lot of people with the means to spend their money in Thailand which is the goal.
I agree with you and I don't think you should have to invest in any government bonds in order to live in Thailand or any country long term. If you have a verifiable income which is many times what the local people live on there then why won't they allow you to live there?
Wow! I just watched your video the day before you came and did a video in my condo at Ashton - a young neighbor of mine said that he had met you in the library. But I just wanted to say that your video was very very helpful. It was actually filmed in the building where my office is located at. I forwarded your video to my agent. Too bad I miss you at the condo!!! Thank you for all your great videos. I hope to meet you one day!
Thanks to you for mentioning this! I just received my LTR Visa. Simple application process online. No bank account. No work permit. No 90-day reporting.
Thai visa’s seem SO complex all the time. All these requirements! It’s crazy. Why the permanent resident visa for the Philippines is so much easier. Not so many things needed. They also have a nice law for foreigners where if you just spend at least US$50,000 to buy a condo you automatically get the permanent resident visa. I know because I got one. Plus it allows you to open up a business. Plus they have a special window at the airport for these card holders. It’s called an ICR card. Quota visa. Thailand really needs to simplify their requirements. It’s nuts!
Thai visa and permanent residency seems like bubble mind bursting now I will look at Philippines since I will just purchase 50k usd condo and get permanent residency seems simple and straightforward.
My husband and I have decided that we will retire in Thailand as wealthy pensioners in our 50s. Our target date is within 36 months from now. We have a lot of downsizing to do! Thanks for this video!
Talked to a expat from Uk in Bangkok a few weeks back and he has been living there for years on a retirement visa . He basically said he doesn’t do anything just pay a agency around 500 bucks and they do all the paperwork and every 90 days he pays them a small amount for them to do the reporting. I got the impression he wouldn’t normally qualify if he applied himself something about the problems for him to provide required documentation but doing it this way was very easy . I guess there is always a way around things
Crazy, if you that rich and making that kind of money to qualify for that Visa I don't think you would be moving to thailand. The people that go to Thailand go because their money is worth more and they can get more out of their money in Thailand than they can at home. Regardless of the food the beauty and so on if the Thai baht was equal or more than your home currency you would think twice going to Thailand.
$80,000/year is hardly rich in the US. While the favorable exchange rate here in Thailand is great for those with a low income it works the same for those of us with higher income. We get more for our money too. Thailand is a great place to be separate from the economic benefits.
I'm Thai you said is very true ,Thailand is a good place for western expats for their budget rent a condo and try to live as thai will save your money don't buy anything or investment in risk I'm a thai expat Bangkokian I kicked me out from bangkok to stay in another province for save money.
120k a year is not that much lol people who makes 100k-150k WILL want to move to Thailand because of the low cost of living and use most of their leftover income for investments. It's not about being able to afford to live somewhere "better", which is super subjective. Thailand to me is one of the best, good beach, good mountains, good cities, BEST food.
Not only that, most public companies don't allow remote work. They all want you to come in sometimes (or stay in the state) where they have their business.
My options for staying long term in thailand (As a software engineer): a) Apply for a job in thailand and accept a lower salary. Hard because thai employers don't want to hire people who earn good money and have options in their home country. b) Apply for the LTR visa. Australian employers want us to be in the office once a week even though we are in huge demand. It's still difficult to negotiate. c) Work for an australian company, save 5000 USD per month and after a year, go holiday for 6 months. Hard because of lack of visa options even though I can fully support myself while in thailand. And don't suggest elite visa because it is not worth it if you are only going for 6 months every 18 months. And here's the thing, the elite visa isn't worth it if there is a chance you could find work in Thailand because they don't refund you for the remaining time of the membership should you decide you don't need it.
Or keep your software engineer role in your country. Work nights. Marry a Thai woman for a marriage visa or Retire here. These "smart visas" always have several poison pills built in which disqualify anyone that would actually want to stay here long term. I've been here 5-years from 38 years old until now. I usually work until 9pm until 2am and am on a marriage visa.
Looks like the magic number for this visa is to be 50 years old. Many people retire before this age and would like to retire in Thailand. I retired at 37, am married to a Thai citizen, and won't qualify because of my age. This 10 year LTR is something I'm very interested in.
Love your work and your commitment to humanity 👏 Q: As a disabled vet, under 50, making over 40k a year. What's the best visa available to a person like me? From your perspective, would it be easier for me to expatriate to Thailand or the Philippines? David
@todd mcgowan Thank you for the input. I have been looking into it and Phillipines seems to be where I want to be. But I'm still 38. So I'll have to wait for the golden years to have residency.
I was born in Thailand, raised in Canada since I was 5 months old since 1985. After watching this channel, I've been trying to figure out how to retire here asap 🙃 lol
I applied because of your post, great information and interview. It's still a bit fuzzy to me. I am retired but unwilling to put my money in an annuity (usually a poor investment strategy). I manage my stock portfolio (yes it's down). I previously already "owned" two properties here in Thailand but I couldn't put them in my name due to Thai property ownership rules. We put the house we build in my Thai wife's name and the townhouse in a Corporations name. When you buy a place you also spend quite a bit to update the places so the purchase cost doesn't reflect the actual real estate investment. I also am putting two Thai kids through University (supporting a family) but that's. not part of the consideration. They also want you to evidance longer term health insurance. I buy my Thai health for when I am in Thailand, buying a long term policy just to meet the application criteria hmmm. As I said I applied, let's see what happens, hope it works out. Thanks for the information.
@@captainLoknar Nothing wrong with them. I just prefer not to hassle with the reporting requirements as I am in and out of the country. Perhaps you can enlighten me on what happens (married visa) when you are out of Thailand and need to renew?
@@sgraham005 reporting is done once in person then with the online process. if you apply 7-15 days before the 90day limit it always goes smoothly and takes 1 minute Get a multiple entry visa and renew it annually
Step in the right direction but it is a shame that even the big companies are moving away from higher education degrees because depending on the industry the degree is actually obsolete. The age requirement is another bummer. I fit the income requirements and would love to be able to participate, but currently operate in other SEA countries that have more favorable visa situations, but my first choice would be Thailand if they had the appropriate solution.
Too young to retire and currently working towards the PSLF Student Forgiveness program so unable to uproot our life here. But my husband and I are daydreaming in 10-20 years to make that move! ❤ Thailand
Great video and info.... I don't understand why someone is subjected to a "vetted" process upon reaching 5 years to see if you still qualify for the remaining 5 years when you have already invested time and money, and were originally deemed qualified for a 10 year visa. I wonder what would happen then if your financial situation took a reversal at the 5th year mark although you were accepted as the perfect candidate at year one?
1 year visa for 1900B x 10 years is 19.000 over 10 years. Easy process done in 1 day/year. Work permit available if I want with some additional costs at around 15.000B/year (permit+accountant). And keep 400k in a CD bank account (can lift and play arbitrage 9 months, if want). So what is better then that? 1 single reentry extra 1.900B, multiple 3.800B (no limit). Just to make a comparison case. If stay, what is cheaper then 19.000Baht for 10year visa (allI spent so far) and keep 400-800k in the bank (with interest). Must send letter every 90day or do it online (if it works).
10 yr visa has been in place for over the past 4yrs. I was issued a 10yr O-X Retirement Visa in October 2019 while “Resident” in Abu Dhabi. It’s no big deal.
@@t.q.6639 Yes. The 90day Ck is a requirement, as it is for all “legal/legit” visas, issued only by Thai Embassies and Consulates. Also note, you do not want to keep any more that 1MTB with any one (1) particular bank, ie SCB, UOB, etc. If you have 3MTB, you would be well advised to have accounts with three (3) separate banks, ie SCB, UOB and Bangkok Bank. The Thai “Deposit Protection Agency” (DPA) now only insures cash deposits up to a maximum of 1MTB. Five (5) years ago the DPA covered up to 10MTB. If you have 3MTB on deposit with a particular Bank and the bank fails….. they will only cover/insure 1MTB….. and you’ll loose 2MTB.
@@t.q.6639 Doesn’t instill much confidence in the countries Banking System. Immigration in Phuket didn’t know about it either until they asked me why I have accounts with four (4) separate banks. I showed them them paperwork I received from UOB re the DPA new limits. Tried to copy and paste here for you, but can’t. Send me your email and I can forward DPA notice.
It's the hardest thing to happen. Because the law has to be passed by the parliament and the conservative legislators won't be able to pass these things.
@@JohnMartin22222 If you have 40 million You're just looking for a Thai wife. 40 million, you're still not going anywhere. and if you spend 1 million baht per year in Thailand You will live for 40 years. by being a Thai husband It's easier than a one-time investment of 40 million.
Sorry, 20 year Thai Elite Superiority Extension visa is the way to go. 20 year visa for 1,000,000 Thai Baht ($26518 USD). Sure, you have to pay up front, but if you break that down its $108 USD per month for 20 years. And no need to "invest" 250,000 USD or 500,000 USD in Thailand.
Eh I just got back from Thailand and I don't know a whole lot about it but seems like the monthly border run would just be easier for me. The one things the Philippines does have better is you can keep extending up into a much longer before you have to make a border run
He listed multiple options without the investment criteria.... Also you aren't factoring in time value of money. But yeah if they are going to tax your income I would say 20 year elite still better
A major issue not mentioned is the Health Insurance requirement. For those US citizens over 65 this is a big cost if they can even get insurance since Medicare is not available in Thailand. The option to self insure requires $100000 deposit (not touched except for health care as I understand.)
In the US, if you try to sell a bond before it has matured, the selling price could end up being lower based on finding a buyer and what they're willing to pay.
One of your first questions about Stan hit the nail on the head regarding the vast majority of successful remote workers, in that they are NOT working for large, publicly listed companies. Interesting that Stan seemingly does not have to pay income tax on income from outside of the Kingdom. Does this mean that for such category of residents, that Thailand is setting itself up as a tax haven for wealthy retirees/workers? Using the UK requirements, if you are non domicile from the UK, meaning you have residency status in another country, then you fall outside of the income tax requirements for your home nation, and fall under the income tax requirements for the country in which you reside. I hope that the LTR visa scheme is a success for Thailand, but I do find myself in that 'other' category, someone making well over $80k a year, that wants to live in Thailand long term and poses no threat to the employment vacancies in Thailand, but for whom there currently is no long term visa option. Being over 50, I could just apply for a retirement visa, but work remotely in contradiction to the visa permissions, or as is currently the case for many, get a 90 day visa, and likewise, continue to work remotely. Even the Elite Visa would permit me to stay in Thailand for 5 years, but still doesn't 'permit' working remotely. It seems there is still no solution for most remote workers wishing to live in Thailand. Such a shame. In the meantime, other countries have already woken up to this demographic and are or have already created the visas to stay long term and work remotely legitimately.
Also what about business owners that can run their business remotely. It's a large growth area, and these people would have in excess of $80k per year income, but they are not 'employed' by a company, given they own the business.
She was wrong. That Twitter employee will have to pay Thai taxes if he performs the work in Thailand. And your company will become tax resident in Thailand through a permanent establishment with the control person operating in TH. Now whether this will ever be caught by the tax authorities is another matter.
@@augustusmaximus2283 umm, really? She is working on behalf of the Thai government, processing the applications for this scheme. I would give her a little more credit. These are new arrangements and it is clear, not for the first time, that Thailand is breaking new ground, and in the process, developing the arrangements it wants, in respect of tax arrangements. Whether those arrangements have been formally established in law, is another matter, but no different than the current situation of cannabis declassification, and the new cannabis laws still in discussion and not having been passed.
@@SeanHendy section 5 of royal decree (signed by the king) gives exemption on: "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 a property situated abroad and brought into Thailand." The hypothetical Twitter employee is performing an employment in Thailand, not abroad based on Thai tax law.
@@augustusmaximus2283 interesting perspective and input, it will be interesting to see what the final arrangements are, given this sounds like a major push to bring in a significant number of people of a certain type, and its not beyond reason that other legislative changes will happen, related to this scheme.. Lots of different models, but ultimately compared to the west, even if all income, from everywhere, was liable for income tax paid in the Kingdom, it would be a lower rate.
The requirement for the $1M to be in an 'annuity' or pension fund is preposterous. If you can prove you have a $1M liquid net-worth you should be good to go imo.
I qualified for the pension category-upload taxes-proof of pension-passport-savings statements directly on BOI website-then around 21 days you get email and apply to consulate in 🇺🇸-you download documents-passport photos-you holding your passport-proof of health insurance and or savings 100 K USD pay the fee is $1600 USD-best part no need for agent-everything online-overall good-can email or call them directly to LTR unit at BOI if there are issues
Have you applied? Are you approved? Do you need to travel to US consulate/embassy to get your approved Visa or is it sent on line? Is $100k in lieu of health insurance can only be in cash deposit or can it be CDs, bonds, or stocks in brokerage account investment? Thx
Yes, in Los Angeles I emailed the Consulate my approval letter and now waiting for my visa stamp. Each case is different for the 100k USD health requirement. I emailed them my bank and investment statements and qualified. Best of luck to you.
@@BarnabyBarry After approval, is there an initial mandatory time to fly to Thailand or is it fly whenever you are ready? Congratulations to you on getting your LTR.
The notification letter expires in exactly 10 years from the date of the letter and you have the option to pick up your VISA at BKK or your specific Consulate where you live!
I just noticed that the only stipulation is that you have to collect your visa within 60 days of the letter or you have to apply for the endorsement again
One thing that confused me is when you mentioned someone retired that had $ 800k US lets say and you divided it by the 10 yrs to get the $ 80k needed to qualify and you thought she said yes to that and she did BUT then she emphasized it was for annuities and pensions. So did she mean they only count your retirement savings if it is in a proven annuity or pension or is it OK being in stocks? At the 14:40 mark in the video you where clearly using the example of a couple owning $ 800k or $ 1 Million in a stock IRA fund and can use that and she said yes but only if it is in a pension or annuity fund. So there might have been miscommunication there?
Thailand is amazing... however my only gripe is that I wish the tourist visa was at least 90 days... while these visas are nice it's a bit high to meet the income requirements of $80k/yr...
It's one of conservative Kingdom you know. Looks like they polite and vigorous but in reality, it's the country attempt to be isolated from foreign influence.
I'm wondering if all the women from neighboring Cambodia and Laos who immigrate and work in all the bars and clubs in Bangkok and Pattaya have to meet these same financial requirements?
No. People from certain ASEAN countries can work normally like Thais. No extra documents needed. Laos , Cambodia , Myanmar and Malaysia all can work freely without any extra requirements for salary , education etc.
It changed. If those women work without work permit or proper visa, if they get caught, they will be whacked regardless their nationalities @@marcanthonyskidmore4131
Thank you so much Chris for this video. We’re going to apply! Your video helped to clarify the “pension” so we do know we qualify. Prior to your video, we were unsure. Thanks again. 👍
The public traded companies kinda kills it for most people. Specially from smaller european countries. Such a weird requirement, seems BOI is making another "Smart Visa", ie a flop. 1000 in a few months but want 1000000, how can that be considered and success? Weird. Better just forget about getting any type of visa for Thailand and continue going there on visa exemption. But nice video! Cheers
"Such a weird requirement" But it isn't so weird knowing government understands nothing about economics 😄. This is what we can expect from people working in the public sector.
Thank you for this video. I plan to go for the retirement visa at the $80k. I’m going to try to do it in my own now that I have this information. Thank you.
Interested to know did you make it through the process yet? Seems straight forward enough and I was thinking of doing it on my own versus paying an accounting or law firm to do it.
Does Stan want to adopt me? Wish I could own a home in Thailand, but I also worry real estate prices will go through the roof if they let expat to own land. Great video Chris. I always enjoy your video, looking forward to more!
I would respectfully disagree. One of the ways to get this Visa is to show an annual income of at least $80,000 per year. If I made this much I would not consider Thailand. Also, Bali just announced a 10 year Visa if one can show $130,000 in the bank. Also, for $220,000 in the bank I could stay in Malaysia for the same amount of time. If I had $500,0000 to invest I could get 10 years in Singapore or S. Korea. Many options in Asia and SE Asia. The Thai LTR Visa option is good but it is not the "only game in the region".
in the states this would apply to roughly 1.5% of americans, i don't see thailand with 200,000 of these visas, even considering a global effort. thailand will be lucky to get within 10% of their goal.
I don’t understand this idea that only poor people would come to Thailand. Thailand is a great place to be regardless of income. Why wouldn’t wealthier people not want to live here? And let’s be real about an $80,000/year income. That is by no means rich in the US. Upper middle class maybe . . they will very much appreciate the better life in Thailand due to the lower cost of living. And there has been plenty going on in the US in recent years making it desirable to leave and go somewhere else.
You can live comfortably on 80k a year in the USA, and not have to worry about working at night because of the time zone difference. So I don’t know why an upper middle class person would want to live so far away from family, friends and work. Maybe they have vacationed there, love the weather, culture and food … but in that case I’d think they would want to start out with the cheaper short term visa options. The low cost of living is not relevant to high earners but a huge tax break would be.
@@thomasreedy4751 I did visit Thailand several times before deciding to move here. We don’t need to live here because of the low cost of living but the low cost of living allows us to have a better quality of life than in the US. People in the US move around all the time to improve their quality of life. I chose Thailand.
Thailand seems to be trying to become a home for rich only. I suspect this will fail to attract the numbers they want. Though I have the funds I have no desire to devote the funds to Thailand so I will pass.
They should relax that rule of requiring foreign company to explicity authorize you to work in Thailand. Most US top companies still cling to "work from home" with home as US, for security/legal purposes. They have not yet caught up with the concept of safety in work from other countries like Thailand (maybe in G7 countries) although many of these companies would have no issue where the person works from. They just don't need to be required to write it down and be a binding document. It's called plausible deniabiility.
The office is NOT located in the SAMYAN Mitrtown Building as depicted in the video. It is located across the street on the 18th floor of the Chamchuri Square Building!
Suggest you try to apply for this You will be in for the surprise of your life as to how complex impossible a process it is , This video is pie in the sky,
I don't think I would feel comfortable having assets invested in Thailand. I'll have to stick the regular retirement visa. Nice options for those who choose to do them though.
Chris, I have a few questions: 1. Is the 80k USD based on gross or net income? 2. I wonder if the 89k is subject to increases based in inflation? 3. Once your online LTV is reviewed, how long would I have before I must meet in person with a Thai govt visa official? Thanks!
Gross income and you have the option to pick it up in BKK or the Thai Consulate (where you live or where you noted on the application) either evisa or in person pick it up at the Thai Consulate.
The Twitter example didn't age well even after a few days I love the "Twitter said he can work from any where in the world" As Elon just removed just about all their remote workers saying he doesn't want them out of range of Twitter HQ or offices in the US
Hmmm. Here in the US you can make $0.00, no need for a Visa, cross over the Mexico border with no questions, get employment, get property or rent, apply for government programs, only pay sales tax and need not verify identity and may choose any name you want. Can’t beat that!
To apply for the LTR Visa, here's the link: ltr.boi.go.th/
Great video like always
@@dananna8614 in how long I will recive my 60 days visa ? It's been almost a month and I didn't get it yet!!
Major companies don't provide a more stable career than a smaller company. Elon Musk just took over Twitter no more remote workers and 75% of work force is now fired.
Hi, can you do a video about this LTR Visa vs Elite Visa? Would love to see the differences or similarity between the two and to compare to see which is better.
Stan is probably fired. You can kiss Thailand goodbye !!!!
OPTION A - Only 1,900 Baht ($55.82) for an Annual Retirement Visa (anyone over age 50) plus 800,000 Baht ($23,506) in a Thai bank
- VERSUS -
OPTION B - $80,000 annual income, $250,000 in Thai Govt Bonds or Property + 50,000 Baht in fees ($1,470)
Take OPTION B, if you have more money than sense!
Option A only applies to old people...
Just got my 5-year DTV visa last week thanks to this video, I wouldn't have known about it otherwise. Great job Chris.
Hi Chris great video! My wife and I have just been approved for the LTR and have went thru the entire process. We are in the work from Thailand category, the process was fairly simple and was all completed in under 20 days. There is a little more complexity to it when you get the Notification Letter for Qualifications Endorsement, you must choose where you go pickup your visa (Bangkok OSS or Royal Thai Embassy abroad). The choice also affects the cost (50,000 baht) and how the initial entry into Thailand goes (visa on arrival, tourist visa vs LTR fast track). If we chose to pick it up in Bangkok we would have had to get entry via visa on arrival (we are US citizens) and then transfer that to the LTR at the OSS office in Bangkok when we picked up the LTR visa. There are also optional and case by case based documents for proof, we had a couple of those but they are all listed and fully documented (ie. audited corporate's annual financial statement for the last 3 years). Your video is a great summary video and I wish your video would have been around before we started the process because it would have saved us a lot of time. Love the videos and hope to make it to a subscriber meetup some day!
Thank you for your story! So informative!🙏🙏💖💖
*bhat
baht
Name of company? If you're a software engineer and they need some more devs, i'd love to know the names of companies letting employees do this.
Hi, your story is adorable. I am apply the LTR wealthy Pensioner but BOI staff request non-criminal record but don't send a request letter for me to obtain the record.
did you receive request for obtaining non-criminal record in the process of your application? 😊 thanks in advance.
@@lautony2841 for me in the US I had to go to my local courthouse and get a certified copy of my criminal record showing no record
For retirement - you need to have $80K USD per year or an investment fund of $800KUSD - this is quite high. I believe the total cost of living in Thailand might be less than $25K so I think they need to reduce the $80K threhold
The whole program is targeted to wealthy individuals. It is not hard to spend a lot of money here for a higher standard of living.
they aren't looking for backpackers with this visa
They know their countries cheap living price merit but they need to limit the numbers overseas and take advantage as much as possible. Try to require only wealthy people move into the country, not decent dude.
I think it's not them who have to lower the threshold, it's the foreigners who have to lower the threshold. This type of visa is just one option out of all. So if you think you can't reach it, You need to look at other types of visas.
800K usd in us stocks?
Great video Chris. Applied for the LTR on 22 September. Got the visa stamp on 4 November. Your video answered all my questions Khun Kanterot is great. All the BOI staff I interacted with were warm and friendly and seemed to want me to succeed. The software was very fit for purpose.
Great to hear!
One of the Clearest and Concise video on the subject matter. Questions which really hit the mark !!! Fantastic. Ms Laopradith is on form and on the dot with all her response with the questions posed. Very impressive indeed.
thanks a lot!
Agreed, great vid! One requirement that was not touched upon was the health insurance - it ain't cheap for foreigners / retirees. Is it possible to get this once your in Thailand?
I paused the video and applied. it was VERY easy and straightforward!
Have you got your Long term visa for Thailand? Are you happy with the process?
7:52 Miss Kantarot’s humor with Chris is PHENOMENAL!! She is so witty, charismatic, yet informative and fantastic representative of our beloved country!😂🇹🇭💖
totally agree, she is great! and represents Thailand very well! :)
Although I now qualify for the LTV as a pensioner I still prefer the relatively simple Retirement Visa. I lived here for 5 years under that program of $800,000 Thai baht deposit into my own Thai savings account, 90 day reporting (not a big deal) and 1900 baht annual renewal with basic information. I don't want any Thai bonds or real estate for that matter as I enjoy simply renting and moving around the country. Plus I don't really want all my tax/financial info in Thai govt files. Great video Chris!
Same here poor/ unreliable returns in Thailand
*$800,000
I too think the current Retirement VISA is easy and cheaper. 90-day reporting isn't difficult, but annual renewals are sometimes a challenge due to unspecified changes. I have the income needed for the LTR VISA and might apply to see what happens.
Trusting a Thai bank with your money is worse than having it on a crypto exchange. You might be gone for a couple of months and when you come back, is not there anymore. Good luck getting it back. Nobody in the bank will even talk to you.
Not sure why anyone who isn't angry at their money would tie up 800k in a Thai bank at 0.25%. That money could easily make 5% in many nations and you are missing out on 40k baht annually. 90 days reporting is no big deal for sure, but no reporting is much better. For LTR pensioner you don't need Thai bonds or real estate. You simply need to have adequate income.
We are retired people and we would apply for Thai Elite Visa options for long term stay like 5, 10, or 20 years without any incomes requirements if we want to stay there. For now, we are hopping around to some of these free visa countries like Mexico for six months, 3 months for Malaysia, Taiwan, or Korea with the US passport. There is always an option in life with pros and cons no matter where we live. Be kind, be cool, and be happy!
@Khmer Minsota Love it! That's my plan!
@@JamesBondEsq. That plant isn’t working for Thailand. Thailand is targeting for rich foreign .
@@TheH00kie you need to edit your comment to copy it and paste it in the main comments section.
And delete this comment from here.
@@TheH00kie just looked it up - the vote was passed - 40 million baht minimum required to buy a max 0.40 acre site and can only be in Bangkok or Pattaya. Way too expensive for my tastes.
@@globalpropertyinvestment ah that’s quite restrictive then, I’m also looking at Malaysia as there are no land ownership restrictions at all
I was in Thailand in September, I don't see one million MILLIONAIRE'S applying for this visa, they need to decrease the requirements in order to achieve 1,000,000 applicants.
@@travelingsober $80k AND be over 50...or more requirements that will keep many people out that still make $80k/yr.
@@travelingsober In 2 months they've had only 1000 applicants. There's ZERO chance they're getting anywhere near one million over 5 years. It's far too exclusive and a total failure.
I know. This is not better option than 10 years Elite VISA. Those millionaires probably move to Mediterranean countries or Latin America instead with this requirement.
The Work-From-Thailand requirements for remote workers is crazy. I'm using a sub-contract system, in order to legally work in Thailand with a WP while the company is actually is in Switzerland.
Before that I worked in a local Thai company paying 35% tax for 5 years. I have several friends from SEA and India who are upset and moving back, due to the crazy LTR requirements.
I would qualify for the highly skilled professionals income requirements, but the base company is abroad.
So even though I am highly above the minimum income requirements and fluent in written and spoken thai after 6 years I will move back to Switzerland, due to the really weird conditions. Maybe as a retirement destination or holiday destination yes, but to live one's life here? I changed my mind :)
crazy indeed ...I would say comical..
Why wouldn’t you qualify if the company is abroad? In the example here the person works for Twitter which is an American company
is there a sub-contract service you could recommend ?
@@hellotheregeneralkenobi365 Because the company probably is unaware they subcontracted the contract and hence could not provide documents being required. The contracting company meanwhile, may not meet the big revenue requirement as well as publicly traded listing requriement.
Facts. I have a digital branding firm in the U.S. but live in Jomtien. I'm involved in helping Thailand reach its goal of 79,000 foreign AI professional hires. Helping the Embassy, the Thai IT firms, the minister of digital economy. I'm hoping they grant me a Smart 'S', to facilitate my staying & working on that. We'll see. It's almost a must in my proposal.
Price for this visa to UK Applicants is £1,500 GBP (London Embassy/eVisa) - so at current exchange rate, it's more like 65,000baht, rather than the quoted 50,000baht.
Thank you but it is the same amount you pay anyway?
If Stan is a remote worker at Twitter, he may not have a job much longer 😂
Unless he can elongate his contract...
@@poorlybuffalo555 What is a contract? I do not know about any employment contracts in the US. All employment is at will, with 2 weeks notice period. It will be interesting to see what happens when Stan loses his job after getting the LTR visa. Does the annual verification check this again?
😂😂
Normally i don't take joy in people losing their jobs, but. For Twitter employees i made an exception. You guys ought to see that Tiktok clip of a day in the life of a Twitter employee. It's a literal adult-daycare and people wonder why, why Twitter is in such a shape, all their employees are adult-babies. That company needs to be reduced to virtual particles.
I hope Stan is gone. Along with Yoel Roth.
เรายากให้ทุกคนมีแต่ความสุข. ไม่ว่าชาติใด หรือศาสนาใด. ขอให้ทุกคนมีแต่ความสุข
I had a totaly different picture of Thailand, the people are so friendly and nice and the government seems to do what is best for people, I like this a lot, thank you and also to the Thai lady who explained everything, this is gold information. Have a good day
Thanks for that!
For those wondering, Thai Government Bonds are currently rated BBB+, or "Stable". So it could actually make up the bond allocation in your retirement portfolio.
Where can I get the information on the rates these Thai bonds are paying currently?
Wait 12 months
I'd rather invest in a Condo. At least you'll have hard asset.
I wouldn't touch Thai bonds or property. Sketchy
@@michael2275 Stay in your country then.
I 'm not qualified for any of the categories, so basically stopped watching after the 3 minute mark. Don't see how this is a life changer.
So most of peoples!Forget it!
Thailand is not even your destination so just go to next video , save those 3 mins
@@thaisupport8378 It used to be, but lately I 'm looking into the Philippines and Vietnam for long term (years/retirement), and short visits (weeks/months) to Cambodia, Thailand, Malaysia, Indonesia, Singapore.
Great interview/info and it is a start in the right direction. However, the requirements seem high and they would get a lot more "wealthy" people to signup if they made it a bit easier where you still would get people with $$ to come and spend in Thailand. I would simplify it...if you make 3-4K a month regardless of the source of income you can get the visa and just update the docs yearly. In that case you'd get a lot of people with the means to spend their money in Thailand which is the goal.
I agree with you and I don't think you should have to invest in any government bonds in order to live in Thailand or any country long term. If you have a verifiable income which is many times what the local people live on there then why won't they allow you to live there?
Wow! I just watched your video the day before you came and did a video in my condo at Ashton - a young neighbor of mine said that he had met you in the library. But I just wanted to say that your video was very very helpful. It was actually filmed in the building where my office is located at. I forwarded your video to my agent. Too bad I miss you at the condo!!! Thank you for all your great videos. I hope to meet you one day!
You're a king Chris. Thanks for this video!
Glad to help!
@@travelingsober Westerner expats must bow down to the Thai king if not then go to sleep in the jail .
@@travelingsober It is ok. We the royalists know the difference between good humor or insult.
Thanks to you for mentioning this! I just received my LTR Visa. Simple application process online. No bank account. No work permit. No 90-day reporting.
Wonderful!
Thai visa’s seem SO complex all the time. All these requirements! It’s crazy. Why the permanent resident visa for the Philippines is so much easier. Not so many things needed. They also have a nice law for foreigners where if you just spend at least US$50,000 to buy a condo you automatically get the permanent resident visa. I know because I got one. Plus it allows you to open up a business. Plus they have a special window at the airport for these card holders. It’s called an ICR card. Quota visa. Thailand really needs to simplify their requirements. It’s nuts!
Thailand on a $500 billion hunt in 5 years 😂
250k-500k investments with not a lot of benefits is a deal breaker
Thai visa and permanent residency seems like bubble mind bursting now I will look at Philippines since I will just purchase 50k usd condo and get permanent residency seems simple and straightforward.
My husband and I have decided that we will retire in Thailand as wealthy pensioners in our 50s. Our target date is within 36 months from now. We have a lot of downsizing to do! Thanks for this video!
Talked to a expat from Uk in Bangkok a few weeks back and he has been living there for years on a retirement visa .
He basically said he doesn’t do anything just pay a agency around 500 bucks and they do all the paperwork and every 90 days he pays them a small amount for them to do the reporting.
I got the impression he wouldn’t normally qualify if he applied himself something about the problems for him to provide required documentation but doing it this way was very easy .
I guess there is always a way around things
Agency name?
$500 is about 19,000 baht. An LTR for a pensioner is 50,000 baht. For anyone using an agent the 10 year LTR is considerably cheaper.
@@martypoll Well, freedom has its price ;-)
@@LeoR4U Haha good one
@@leotravel85 there’s lots in Pattaya n Bangkok max 34000bht first year then 12000 to renew
Crazy, if you that rich and making that kind of money to qualify for that Visa I don't think you would be moving to thailand. The people that go to Thailand go because their money is worth more and they can get more out of their money in Thailand than they can at home. Regardless of the food the beauty and so on if the Thai baht was equal or more than your home currency you would think twice going to Thailand.
$80,000/year is hardly rich in the US. While the favorable exchange rate here in Thailand is great for those with a low income it works the same for those of us with higher income. We get more for our money too. Thailand is a great place to be separate from the economic benefits.
I'm Thai you said is very true ,Thailand is a good place for western expats for their budget rent a condo and try to live as thai will save your money don't buy anything or investment in risk I'm a thai expat Bangkokian I kicked me out from bangkok to stay in another province for save money.
120k a year is not that much lol people who makes 100k-150k WILL want to move to Thailand because of the low cost of living and use most of their leftover income for investments. It's not about being able to afford to live somewhere "better", which is super subjective. Thailand to me is one of the best, good beach, good mountains, good cities, BEST food.
That's right they b residing in south France with the fresh air and high class public amenities aaahahahaha Thai delusions LOL typical
@@lecannet Thailand is a great place to live whatever your income. France . . . boring
Stan qualified, but was one of the 75% that are getting fired by Elon Musk. Too bad Stan.
that's a good one
Not only that, most public companies don't allow remote work. They all want you to come in sometimes (or stay in the state) where they have their business.
If Stan worked at Twitter he should not only be fired but put on fire....
😂😂👍
Rip Stan 😂
Great video brother, the level of access you have is second to none here in The Big Mango!
My options for staying long term in thailand (As a software engineer):
a) Apply for a job in thailand and accept a lower salary. Hard because thai employers don't want to hire people who earn good money and have options in their home country.
b) Apply for the LTR visa. Australian employers want us to be in the office once a week even though we are in huge demand. It's still difficult to negotiate.
c) Work for an australian company, save 5000 USD per month and after a year, go holiday for 6 months. Hard because of lack of visa options even though I can fully support myself while in thailand. And don't suggest elite visa because it is not worth it if you are only going for 6 months every 18 months. And here's the thing, the elite visa isn't worth it if there is a chance you could find work in Thailand because they don't refund you for the remaining time of the membership should you decide you don't need it.
Or keep your software engineer role in your country. Work nights. Marry a Thai woman for a marriage visa or Retire here. These "smart visas" always have several poison pills built in which disqualify anyone that would actually want to stay here long term. I've been here 5-years from 38 years old until now. I usually work until 9pm until 2am and am on a marriage visa.
Irrelevant information
The problem for Stan is that he has just been fired by Elon Musk, along with around 50% of Twitter employees😭
Great informative video, Chris!!!
I was looking for this comment.😆
😆 you read my mind
Stan has to support himself now by converting😁 into a ladyboy.
Yes please do a video on starting a company in thailand!
Looks like the magic number for this visa is to be 50 years old. Many people retire before this age and would like to retire in Thailand. I retired at 37, am married to a Thai citizen, and won't qualify because of my age. This 10 year LTR is something I'm very interested in.
I am one of those 1000 initial pensioner applicants. I am waiting to hear from them.
oh amazing....good luck!
You are the man! This was a very informative video.
Love your work and your commitment to humanity 👏
Q: As a disabled vet, under 50, making over 40k a year. What's the best visa available to a person like me?
From your perspective, would it be easier for me to expatriate to Thailand or the Philippines?
David
Phillippines does make it very easy for American veterans...
@todd mcgowan Thank you for the input. I have been looking into it and Phillipines seems to be where I want to be. But I'm still 38. So I'll have to wait for the golden years to have residency.
But Philippines is unsafe. Nowhere near safety of Thailand. Some people hire a bodyguard.
This is a great video man! More and more people will start looking at these videos in the next 1-2 years😊
So thai elite card are still the best for most under 50, thanks!
I was born in Thailand, raised in Canada since I was 5 months old since 1985. After watching this channel, I've been trying to figure out how to retire here asap 🙃 lol
I applied because of your post, great information and interview. It's still a bit fuzzy to me. I am retired but unwilling to put my money in an annuity (usually a poor investment strategy). I manage my stock portfolio (yes it's down). I previously already "owned" two properties here in Thailand but I couldn't put them in my name due to Thai property ownership rules. We put the house we build in my Thai wife's name and the townhouse in a Corporations name. When you buy a place you also spend quite a bit to update the places so the purchase cost doesn't reflect the actual real estate investment. I also am putting two Thai kids through University (supporting a family) but that's. not part of the consideration. They also want you to evidance longer term health insurance. I buy my Thai health for when I am in Thailand, buying a long term policy just to meet the application criteria hmmm. As I said I applied, let's see what happens, hope it works out. Thanks for the information.
..or marriage visa?
@@captainLoknar Nothing wrong with them. I just prefer not to hassle with the reporting requirements as I am in and out of the country. Perhaps you can enlighten me on what happens (married visa) when you are out of Thailand and need to renew?
D.C. area code?
@@sgraham005 reporting is done once in person then with the online process. if you apply 7-15 days before the 90day limit it always goes smoothly and takes 1 minute
Get a multiple entry visa and renew it annually
Steven not Stephen - sorry
Sea, beach, mountain, waterfall, forest street food, transport, hotel, hospital, good people
High quality in Thailand but lower price.....
Step in the right direction but it is a shame that even the big companies are moving away from higher education degrees because depending on the industry the degree is actually obsolete. The age requirement is another bummer. I fit the income requirements and would love to be able to participate, but currently operate in other SEA countries that have more favorable visa situations, but my first choice would be Thailand if they had the appropriate solution.
Best Video Yet on Visa in Thailand!!! You are without question the best Channel on UA-cam!!! Thanks Again!!!!!
Too young to retire and currently working towards the PSLF Student Forgiveness program so unable to uproot our life here. But my husband and I are daydreaming in 10-20 years to make that move! ❤ Thailand
3 year visa for India only 80 dollar.
Its a beautiful country with beautiful and friendly people.
Chris, knowing for us in 🇨🇦 that Thailand has a Timmy's ☕️ is reason enough to come. 🤣
could i be wrong, but Thai elite visa makes more sense over this LTR visa, u can get 20 years for a 1 million baht...
Great video and info....
I don't understand why someone is subjected to a "vetted" process upon reaching 5 years to see if you still qualify for the remaining 5 years when you have already invested time and money, and were originally deemed qualified for a 10 year visa. I wonder what would happen then if your financial situation took a reversal at the 5th year mark although you were accepted as the perfect candidate at year one?
1 year visa for 1900B x 10 years is 19.000 over 10 years. Easy process done in 1 day/year. Work permit available if I want with some additional costs at around 15.000B/year (permit+accountant). And keep 400k in a CD bank account (can lift and play arbitrage 9 months, if want).
So what is better then that?
1 single reentry extra 1.900B, multiple 3.800B (no limit).
Just to make a comparison case.
If stay, what is cheaper then 19.000Baht for 10year visa (allI spent so far) and keep 400-800k in the bank (with interest). Must send letter every 90day or do it online (if it works).
10 yr visa has been in place for over the past 4yrs. I was issued a 10yr O-X Retirement Visa in October 2019 while “Resident” in Abu Dhabi. It’s no big deal.
Did you have to do 90 days check in living in Thailand, and keep 3 million baht in a Thai bank for O-X visa?
@@t.q.6639 Yes. The 90day Ck is a requirement, as it is for all “legal/legit” visas, issued only by Thai Embassies and Consulates.
Also note, you do not want to keep any more that 1MTB with any one (1) particular bank, ie SCB, UOB, etc. If you have 3MTB, you would be well advised to have accounts with three (3) separate banks, ie SCB, UOB and Bangkok Bank. The Thai “Deposit Protection Agency” (DPA) now only insures cash deposits up to a maximum of 1MTB. Five (5) years ago the DPA covered up to 10MTB.
If you have 3MTB on deposit with a particular Bank and the bank fails….. they will only cover/insure 1MTB….. and you’ll loose 2MTB.
@@verticalift Didn’t know that. Now I do. 1MTB is very little!
@@t.q.6639 Doesn’t instill much confidence in the countries Banking System.
Immigration in Phuket didn’t know about it either until they asked me why I have accounts with four (4) separate banks. I showed them them paperwork I received from UOB re the DPA new limits. Tried to copy and paste here for you, but can’t. Send me your email and I can forward DPA notice.
@@verticalift I can look it up. Thank you.
Once foreigners can buy villa's including land thats the game changer. Thats what where all waiting for. Can get these thai elite visas anytime.
It's the hardest thing to happen.
Because the law has to be passed by the parliament and the conservative legislators won't be able to pass these things.
You will be able to do it. 40m
Invested into Thailand and you can have 1 rai.
I think the facts remain, if you can’t afford to loose it don’t buy it.
@@JohnMartin22222 If you have 40 million
You're just looking for a Thai wife.
40 million, you're still not going anywhere. and if you spend 1 million baht per year in Thailand
You will live for 40 years. by being a Thai husband
It's easier than a one-time investment of 40 million.
Deffo the best youtuber I watch. This video was so good and something we are looking at doing in the future
Sorry, 20 year Thai Elite Superiority Extension visa is the way to go. 20 year visa for 1,000,000 Thai Baht ($26518 USD). Sure, you have to pay up front, but if you break that down its $108 USD per month for 20 years. And no need to "invest" 250,000 USD or 500,000 USD in Thailand.
Yes but why does this visa get exempt from 90 day reports and not Thai Elite
Eh I just got back from Thailand and I don't know a whole lot about it but seems like the monthly border run would just be easier for me. The one things the Philippines does have better is you can keep extending up into a much longer before you have to make a border run
He listed multiple options without the investment criteria.... Also you aren't factoring in time value of money. But yeah if they are going to tax your income I would say 20 year elite still better
You can just have 1 million in us assets though.
This is the best way to go honestly
That's exactly what I want to know and learn about the new Thai immigrants rural .
You did an excellent job of interviewing .
A major issue not mentioned is the Health Insurance requirement. For those US citizens over 65 this is a big cost if they can even get insurance since Medicare is not available in Thailand. The option to self insure requires $100000 deposit (not touched except for health care as I understand.)
Exactly right
@@melmalinowski9125 you have somehow presented that information to them in the wrong way. The 100k interpretation was very liberal for mine.
@@melmalinowski9125 it’s very true. Simply telling you how they interpreted mine. Account is fully invested. Albeit I’m not American….
To get it from the horses mouth was awesome and the details you elicited were spot on. Thank you!
Glad it was helpful!
The $150m requirement is stupid and will be a deal breaker for almost all potential applicants. Nice one Thailand.
Right. If I have $150 mill, I'm getting second citizenship in Monaco and the Caribbean for my investments. And I can visit Thailand whenever I like.
@@genericdeveloper3966 the requirement is that your employer has revenue of $150m.
In the US, if you try to sell a bond before it has matured, the selling price could end up being lower based on finding a buyer and what they're willing to pay.
One of your first questions about Stan hit the nail on the head regarding the vast majority of successful remote workers, in that they are NOT working for large, publicly listed companies.
Interesting that Stan seemingly does not have to pay income tax on income from outside of the Kingdom. Does this mean that for such category of residents, that Thailand is setting itself up as a tax haven for wealthy retirees/workers? Using the UK requirements, if you are non domicile from the UK, meaning you have residency status in another country, then you fall outside of the income tax requirements for your home nation, and fall under the income tax requirements for the country in which you reside.
I hope that the LTR visa scheme is a success for Thailand, but I do find myself in that 'other' category, someone making well over $80k a year, that wants to live in Thailand long term and poses no threat to the employment vacancies in Thailand, but for whom there currently is no long term visa option.
Being over 50, I could just apply for a retirement visa, but work remotely in contradiction to the visa permissions, or as is currently the case for many, get a 90 day visa, and likewise, continue to work remotely.
Even the Elite Visa would permit me to stay in Thailand for 5 years, but still doesn't 'permit' working remotely.
It seems there is still no solution for most remote workers wishing to live in Thailand. Such a shame. In the meantime, other countries have already woken up to this demographic and are or have already created the visas to stay long term and work remotely legitimately.
Also what about business owners that can run their business remotely. It's a large growth area, and these people would have in excess of $80k per year income, but they are not 'employed' by a company, given they own the business.
She was wrong. That Twitter employee will have to pay Thai taxes if he performs the work in Thailand. And your company will become tax resident in Thailand through a permanent establishment with the control person operating in TH. Now whether this will ever be caught by the tax authorities is another matter.
@@augustusmaximus2283 umm, really? She is working on behalf of the Thai government, processing the applications for this scheme. I would give her a little more credit. These are new arrangements and it is clear, not for the first time, that Thailand is breaking new ground, and in the process, developing the arrangements it wants, in respect of tax arrangements. Whether those arrangements have been formally established in law, is another matter, but no different than the current situation of cannabis declassification, and the new cannabis laws still in discussion and not having been passed.
@@SeanHendy section 5 of royal decree (signed by the king) gives exemption on: "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 a property situated abroad and brought into Thailand."
The hypothetical Twitter employee is performing an employment in Thailand, not abroad based on Thai tax law.
@@augustusmaximus2283 interesting perspective and input, it will be interesting to see what the final arrangements are, given this sounds like a major push to bring in a significant number of people of a certain type, and its not beyond reason that other legislative changes will happen, related to this scheme..
Lots of different models, but ultimately compared to the west, even if all income, from everywhere, was liable for income tax paid in the Kingdom, it would be a lower rate.
Thanks Chris! That’s exactly I wanted to know about LTR visa.
The requirement for the $1M to be in an 'annuity' or pension fund is preposterous. If you can prove you have a $1M liquid net-worth you should be good to go imo.
Yes, the annuity or pension fund makes no sense.
It is the latter, at least USD 1 million in assets for Wealthy Global Citizens, plus the other requirements listed on the website.
@@aublumberg Solely having >$1M liquid should qualify you. >$1M + >$80k/a income requirement is stupid.
Great video, Chris! I took notes and saved this one for future use. Thank you for preparing this - well done! - Mark O, U.S. East Coast Viewer
Man this is awesome! I’m coming next month to try to figure out where to live. I really hope they make that change for home ownership 😊
Thank you, this is an informative video. Nothing mentioned about the 10 year coverage for medical insurance.
Another nice one, buddy. Very well covered. And yes, please do that starting-a-business video, as that’s something I’m curious about myself ✌️
Great interview. Waiting for the update on right to buy / own land in Thailand.
It's very good, friend. 10 year visa.😁😁😁🇹🇭🇹🇭🇹🇭🇹🇭
I qualified for the pension category-upload taxes-proof of pension-passport-savings statements directly on BOI website-then around 21 days you get email and apply to consulate in 🇺🇸-you download documents-passport photos-you holding your passport-proof of health insurance and or savings 100 K USD pay the fee is $1600 USD-best part no need for agent-everything online-overall good-can email or call them directly to LTR unit at BOI if there are issues
Have you applied? Are you approved? Do you need to travel to US consulate/embassy to get your approved Visa or is it sent on line? Is $100k in lieu of health insurance can only be in cash deposit or can it be CDs, bonds, or stocks in brokerage account investment? Thx
Yes, in Los Angeles I emailed the Consulate my approval letter and now waiting for my visa stamp. Each case is different for the 100k USD health requirement. I emailed them my bank and investment statements and qualified. Best of luck to you.
@@BarnabyBarry After approval, is there an initial mandatory time to fly to Thailand or is it fly whenever you are ready? Congratulations to you on getting your LTR.
The notification letter expires in exactly 10 years from the date of the letter and you have the option to pick up your VISA at BKK or your specific Consulate where you live!
I just noticed that the only stipulation is that you have to collect your visa within 60 days of the letter or you have to apply for the endorsement again
One thing that confused me is when you mentioned someone retired that had $ 800k US lets say and you divided it by the 10 yrs to get the $ 80k needed to qualify and you thought she said yes to that and she did BUT then she emphasized it was for annuities and pensions. So did she mean they only count your retirement savings if it is in a proven annuity or pension or is it OK being in stocks?
At the 14:40 mark in the video you where clearly using the example of a couple owning $ 800k or $ 1 Million in a stock IRA fund and can use that and she said yes but only if it is in a pension or annuity fund. So there might have been miscommunication there?
Well spotted 🍻
Great video Chris,
I’m actually going through the process myself at the moment and your information is spot on. Keep up the good work . 👍
Thailand is amazing... however my only gripe is that I wish the tourist visa was at least 90 days... while these visas are nice it's a bit high to meet the income requirements of $80k/yr...
You are right.❤
It's one of conservative Kingdom you know. Looks like they polite and vigorous but in reality, it's the country attempt to be isolated from foreign influence.
Very helpful video!
*Do I also qualify if I will smoke 5 kg Cannabis a year?* 🤔😎🌴🌴
now that's a good investment!
Amazing
Thanks Chris for this gorgeous update
I'm wondering if all the women from neighboring Cambodia and Laos who immigrate and work in all the bars and clubs in Bangkok and Pattaya have to meet these same financial requirements?
No. People from certain ASEAN countries can work normally like Thais. No extra documents needed. Laos , Cambodia , Myanmar and Malaysia all can work freely without any extra requirements for salary , education etc.
It changed. If those women work without work permit or proper visa, if they get caught, they will be whacked regardless their nationalities @@marcanthonyskidmore4131
dude best news ive heard in so long. Im coming ASAP
Thank you so much Chris for this video. We’re going to apply! Your video helped to clarify the “pension” so we do know we qualify. Prior to your video, we were unsure. Thanks again. 👍
The public traded companies kinda kills it for most people. Specially from smaller european countries. Such a weird requirement, seems BOI is making another "Smart Visa", ie a flop. 1000 in a few months but want 1000000, how can that be considered and success? Weird. Better just forget about getting any type of visa for Thailand and continue going there on visa exemption.
But nice video! Cheers
And with Elon Musk purchasing Twitter and taking it private poor Stan will be out of luck 😊
"Such a weird requirement"
But it isn't so weird knowing government understands nothing about economics 😄. This is what we can expect from people working in the public sector.
Do whatever feels right to you........this LTR visa can't please everyone, give and take is a bottom line.
Thank you for this video. I plan to go for the retirement visa at the $80k. I’m going to try to do it in my own now that I have this information. Thank you.
Interested to know did you make it through the process yet? Seems straight forward enough and I was thinking of doing it on my own versus paying an accounting or law firm to do it.
Does Stan want to adopt me? Wish I could own a home in Thailand, but I also worry real estate prices will go through the roof if they let expat to own land. Great video Chris. I always enjoy your video, looking forward to more!
hahaha.....funny comment Thomas.
I would respectfully disagree. One of the ways to get this Visa is to show an annual income of at least $80,000 per year. If I made this much I would not consider Thailand. Also, Bali just announced a 10 year Visa if one can show $130,000 in the bank. Also, for $220,000 in the bank I could stay in Malaysia for the same amount of time. If I had $500,0000 to invest I could get 10 years in Singapore or S. Korea. Many options in Asia and SE Asia. The Thai LTR Visa option is good but it is not the "only game in the region".
in the states this would apply to roughly 1.5% of americans, i don't see thailand with 200,000 of these visas, even considering a global effort. thailand will be lucky to get within 10% of their goal.
I don’t understand this idea that only poor people would come to Thailand. Thailand is a great place to be regardless of income. Why wouldn’t wealthier people not want to live here? And let’s be real about an $80,000/year income. That is by no means rich in the US. Upper middle class maybe . . they will very much appreciate the better life in Thailand due to the lower cost of living. And there has been plenty going on in the US in recent years making it desirable to leave and go somewhere else.
Fools love the military regime.
You can live comfortably on 80k a year in the USA, and not have to worry about working at night because of the time zone difference.
So I don’t know why an upper middle class person would want to live so far away from family, friends and work.
Maybe they have vacationed there, love the weather, culture and food … but in that case I’d think they would want to start out with the cheaper short term visa options.
The low cost of living is not relevant to high earners but a huge tax break would be.
@@thomasreedy4751 I did visit Thailand several times before deciding to move here. We don’t need to live here because of the low cost of living but the low cost of living allows us to have a better quality of life than in the US. People in the US move around all the time to improve their quality of life. I chose Thailand.
Well now US embassy in Bangkok hiring and I’m sure stan wife can get a job there 😉😉
Thailand seems to be trying to become a home for rich only. I suspect this will fail to attract the numbers they want. Though I have the funds I have no desire to devote the funds to Thailand so I will pass.
You are smart but a lot of fool expats thinking Thailand is wonderful land which is controlling by military .
They should relax that rule of requiring foreign company to explicity authorize you to work in Thailand. Most US top companies still cling to "work from home" with home as US, for security/legal purposes. They have not yet caught up with the concept of safety in work from other countries like Thailand (maybe in G7 countries) although many of these companies would have no issue where the person works from. They just don't need to be required to write it down and be a binding document. It's called plausible deniabiility.
Exactly, just use a VPN set to your home country and your company has no clue anyway.
มันดีมากๆเลยเพื่อน
The office is NOT located in the SAMYAN Mitrtown Building as depicted in the video. It is located across the street on the 18th floor of the Chamchuri Square Building!
People making big money would not care to put their income locked up in thai banks
no, but many of them would lock it up in a thai villa or condo.
@@RetiredWorkingForYou not until they’re 100% certain Thailand is for them. With the continual changes in laws, that may take awhile for some of us.
Suggest you try to apply for this You will be in for the surprise of your life as to how complex impossible a process it is , This video is pie in the sky,
Chris your the best
In my opinion, People should be careful make those investment in foreign countries only because of the Visa, i see many cases it dont end well.
I don't think I would feel comfortable having assets invested in Thailand. I'll have to stick the regular retirement visa. Nice options for those who choose to do them though.
This is not good option for even millionaire's stand point.
Not anymore than in US banks or any collective west's banks now a day
I think that's out of the question for most people, too expensive and the financial hurdles are too high.
Chris, I have a few questions:
1. Is the 80k USD based on gross or net income?
2. I wonder if the 89k is subject to increases based in inflation?
3. Once your online LTV is reviewed, how long would I have before I must meet in person with a Thai govt visa official? Thanks!
You must meet to military dictatorship in Thailand they love to see westerner expats stoop and licking boots to them.
80000????? Didn't he say it was cheap In Thailand? I never speak half.of that I the UK , in Spain a fraction of that
Gross income and you have the option to pick it up in BKK or the Thai Consulate (where you live or where you noted on the application) either evisa or in person pick it up at the Thai Consulate.
You have 60 days after your application is approved to either pick it up in Thailand or get it through an embassy overseas.
Yes 60 days after you receive the official notification of endorsement qualification.
Yes you should do a video about allowed types of business allowed in Thai
Great video Chris and thanks for all your hard work posting so much valuable intel. Is this LTR visa still in effect?
The Twitter example didn't age well even after a few days
I love the "Twitter said he can work from any where in the world"
As Elon just removed just about all their remote workers saying he doesn't want them out of range of Twitter HQ or offices in the US
Hmmm. Here in the US you can make $0.00, no need for a Visa, cross over the Mexico border with no questions, get employment, get property or rent, apply for government programs, only pay sales tax and need not verify identity and may choose any name you want. Can’t beat that!
Thanks for the info I needed, Chris. I think Thai govt will get realistic about requirements and then gets them halved in a couple of years or so