News Forum - Who is eligible for a ฿50K 10 year LTR visa in Thailand? The fine print.

[Thaiger]

Today, Thailand’s Cabinet announced that the fee for a 10 year Long Term Resident visa would be halved from ฿100,000 to ฿50,000 to attract foreigners with ‘high potential’ to reside in the kingdom. Not only has the fee been reduced, but the eligibility criteria has become more “flexible,” according to Deputy Spokesperson for the Prime Minister’s Office Ratchada Thanadirek. The Cabinet hopes the changes will increase foreign investment and boost the economy. The LTR visa is targeted at four groups of foreigners: 1) wealthy foreigners 2) retirees 3) working foreigners and 4) specialists. All groups are welcome to bring their […]

The story Who is eligible for a ฿50K 10 year LTR visa in Thailand? The fine print. as seen on Thaiger News.

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[gazmo16]

They are still dreaming that everyone wants to come to Thailand.  Good luck even with reduced costs it's still way too expensive compared with a year on year visa application.

[Janneman]

Hm this is meant to attract digital nomads? Most of them do not fall in the 'wealthy' or 'retired' category. And most of them are self-employed, without a long-term contract of any kind. So they do not fall in group 1, 2, 3, or 4.

[Pinetree]

Sounds to me like a lot of hassle and a waste of time, bit like the Elite Visa. I suppose okay if you are younger and not yet eligible for a retirement visa, or a marriage one.  The income requirement seems a little too high to attract many, but I may be out of touch there.   I'll stick to yearly extensions . 

[Soidog]

Delusional ! 

[TheDirtyDurian]

Does the $80k have to be earned in Thailand. 

I'd be interested in a visa like that but I don't earn my cash in Thailand. 

5k baht a year cost is a bargain. 

[HolyCowCm]

Thank you but no thank. PASS! 

[Benroon]

17 hours ago, gazmo16 said:

They are still dreaming that everyone wants to come to Thailand.  Good luck even with reduced costs it's still way too expensive compared with a year on year visa application.

Is it ?  For the people who cheat the system via agents money, it’s surely considerably cheaper. Plus removes that nagging fear immigration will come knocking if/when the agent scams all unravels. But of course having said that I guess if you need an agents money to get you over the line you’re unlikely to be able to stretch to this. 

For the sake of a paltry 5k a year to remove the annual renewal circus ten times I think it’s a  no brainer if you can meet the criteria. 

[Benroon]

16 hours ago, Pinetree said:

Sounds to me like a lot of hassle and a waste of time, bit like the Elite Visa. I suppose okay if you are younger and not yet eligible for a retirement visa, or a marriage one.  The income requirement seems a little too high to attract many, but I may be out of touch there.   I'll stick to yearly extensions . 

More hassle than TEN renewals ? How so ? If I’ve read it right this is 10x-40x cheaper than the Elite Visa so chalk and cheese. 

I think most will go down the money in the bank route as opposed to income, I’m imagining if you’ve got to retirement age you have at least $100k in an account. 

[thingamabob]

How does this affect the need for 90 day reporting, and annual extensions ?

[Pinetree]

6 minutes ago, Benroon said:

More hassle than TEN renewals ? How so ?

A few photo copies and a visit to immigration, via your bank,  with 1,900 Baht in your wallet? 

Actually, I use an agent so for me its two, 5 minute visits to him. No hassle at all. 

[Saltire]

"Must have evidence of an average income of at least US$80,000 for at least 12 months prior to the application date."

So you're ok if you earn a retirement income of £5,400 per month!

I can't imagine this applies to a large percentage of retirees.

 

 

Edited May 12, 2022 by Saltire

[Benroon]

2 hours ago, Pinetree said:

A few photo copies and a visit to immigration, via your bank,  with 1,900 Baht in your wallet? 

Actually, I use an agent so for me its two, 5 minute visits to him. No hassle at all. 

I agree simplicity itself but have you not heard the endless daily expat wailing about visa renewals from those that find it challenging ? This would be a game changer for them. 

So all your 1900’s, agent fees,  (why do you use an agent btw?) and visits is well on the way already to this one off cost. Then you set your reminder for in 10 years time. 
 

 

[Benroon]

2 hours ago, Saltire said:

"Must have evidence of an average income of at least US$80,000 for at least 12 months prior to the application date."

So you're ok if you earn a retirement income of £5,400 per month!

I can't imagine this applies to a large percentage of retirees.

Agreed - OR $100,000 in the bank.

The percentage will be significantly higher imo. 

[Artemis080]

I'm not retired, so this is perfect as a remote worker and I'm eagerly awaiting the final details.

An elite visa doesn't cut it with the vagueries of working remotely.

Is it designed for any "wanabepreneur" or someone scraping by monthly - nope, and why should it? A 10-year visa with work rights for an offshore entity is valuable in Asia.

[Leeshard]

So they reduced it down from 100k to 50k baht because they they probably had about ten takers. Very few people will fall into these categories anyway, especially retirees. And anyway what’s the point when you can go through an agent, pay a little more and don’t even have to keep 800k baht in the bank. If you can do something else with 800k baht and make a return of 1.5% then your annual visa is effectively free.

[Pinetree]

2 hours ago, Benroon said:

why do you use an agent btw?)

Because I hate the paperwork  hassle of the extension process, I hate queues in the hot sun, I hate angry farangs in Immigration offices and smelly farangs who can't be  bothered to shower and I hate inconsistent IOs. 

[TWS60]

I don't mind keeping minimum 800k Baht here instead of messing around with the monthly income rigamarole.  That's the trade-off I signed up for.  Fair enough.

100,000 USD locked up here though?  Could do, but meh, no thanks. 

Makes me muse somewhat nervously to see comments about how great and cheap the Non-O is in comparison, when it's typically the subject of endless moaning.  Should these pages get the occasional look-in by a fluent, nuance-enabled English speaker in a uniform 2-sizes too small,  we must present a consistent, united front that we're miserable, and sufficiently abused by the existing level of red-tape.  Lest General Somchai in the BKK Puzzle Palace come up with a few bright ideas that would make 'ole Big Joke blush with unprofessional envy. 

"Tricky Farang happy, eh?  Tink we not know what we do?"

"Hold my beer, Lieutenant, watch this s**t!!"    

 

[Benroon]

On 5/12/2022 at 8:51 AM, Pinetree said:

Because I hate the paperwork  hassle of the extension process, I hate queues in the hot sun, I hate angry farangs in Immigration offices and smelly farangs who can't be  bothered to shower and I hate inconsistent IOs. 

Well as you put it like that - fair play. (but you did say it was 'just a few photo copies')

I too have to sit on my hands to not put to sleep falangs who don't understand IO hold all the cards and give it the big I am.

Does your IO make you queue outside ? 

[Benroon]

On 5/12/2022 at 7:59 AM, Leeshard said:

So they reduced it down from 100k to 50k baht because they they probably had about ten takers. Very few people will fall into these categories anyway, especially retirees. And anyway what’s the point when you can go through an agent, pay a little more and don’t even have to keep 800k baht in the bank. If you can do something else with 800k baht and make a return of 1.5% then your annual visa is effectively free.

Because your visa is fraudulent. It takes just one new IO head honcho that wants to make a name for himself, and all the agent money people can say hello to a 10 year ban from Thailand. Do I think it will happen, nope, but I prefer not to sleep with one eye open.

[Benroon]

On 5/12/2022 at 10:38 AM, TWS60 said:

I don't mind keeping minimum 800k Baht here instead of messing around with the monthly income rigamarole.  That's the trade-off I signed up for.  Fair enough.

100,000 USD locked up here though?  Could do, but meh, no thanks. 

Makes me muse somewhat nervously to see comments about how great and cheap the Non-O is in comparison, when it's typically the subject of endless moaning.  Should these pages get the occasional look-in by a fluent, nuance-enabled English speaker in a uniform 2-sizes too small,  we must present a consistent, united front that we're miserable, and sufficiently abused by the existing level of red-tape.  Lest General Somchai in the BKK Puzzle Palace come up with a few bright ideas that would make 'ole Big Joke blush with unprofessional envy. 

"Tricky Farang happy, eh?  Tink we not know what we do?"

"Hold my beer, Lieutenant, watch this s**t!!"    

You don't need it locked up here - read the article again.

[Pinetree]

10 hours ago, Benroon said:

Does your IO make you queue outside ? 

They queue outside at my local IO,  but I use an agent,  so I  have not set foot in the place for 5 years, thank goodness.