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What is the process and timeline for obtaining a Long-Term Residency (LTR) visa as a wealthy pensioner in Thailand?

LTR Visa Wealthy Pensioner Visa Passive Income Visa Application Tax Residency Thailand Immigration Investment Funds

Jan 18, 2025

a month ago

Pim ******

ORIGINAL POSTER

Hi guys, I am on the way to get my LTR visa wealthy pensioner. I started in December and get a request email every third day. I send the proper answer in the same hour. We are now in the stage of proofing 80000 income. As I am early retired with 50 and now being 62, I right now have no pension fund returns. But I showed yearly passive income from dividends of 200000 euros and another 120000 Euros from an investment fund. Nevertheless they still ask questions of showing more passive income from interest or rentals. On top they asked me to show tax withholding from the dividends.

I declared now that the country from dividend origin doesnt tax dividends and as I live nowhere longer than 4 months, I have currently no tax residency, therefore tax avoidance laws are not applicable.

Someone out there to know how much longer they ask questions?

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TLDR : Answer Summary

The user is facing challenges with their LTR (Long-Term Resident) visa application, specifically regarding proving an 80,000 Euro income from passive sources. Despite declaring substantial dividend income and other investments, the immigration office is requesting additional proof, including tax withholding documentation. Comments from the community reflect similar frustrations, with some suggesting alternative visa routes and highlighting low approval rates for the LTR visa. There are also concerns about tax residency implications related to having no current tax obligations.

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Joseph *******

While I cannot answer your question, I recently read online that the LTR approval rate hovers around 30%. I hope yours goes through.

I too will be applying for the LTR visa this summer, based solely on retirement incomes. For me, it’s about timing. Need to sell my house first, knowing you have to enter Thailand within two months (?) of visa approval.

a month ago

Todd *********

Impossible to not have tax residency somewhere. No country will ‘pass you off’ until you have established tax residency somewhere in your next country. Let’s face the actual fact, your 320k passive income attracts $0 tax, sounds shifty and illegal, because it is. Why would a new country be willing to take you in?

a month ago

Colin *******

@Todd ********

not sure you are correct on that Todd. I think there are a fair few who play the 4 months times 3 deal. Just keep moving on. If you have no perm address, no close family ties, no business interested on what basis would any tax authority prevent you from being non tax resident? Let's exclude Uncle Sam as that may be more difficult. However let's assume you are correct and let's assume somone gets the LTR, gets a Thai tax number, then removes from other jurisdiction. Now they are only tax resident in Thailand but their worldwide income and capital gains are exempt due to the LTR. So our friend could still make the 320k per year and pay zero tax. All legit and above board. Thoughts?

a month ago

Todd *********

@Colin ******

you can travel full time for decades and still be tax resident in your home nation. Why would they prevent you from being non-resident?? Because it’s the law.

You simply cannot legally decide to be tax non-resident and pay no tax anywhere. The ONLY way to become tax non-resident is to shift your tax residency to a new nation. And the money that produces his 320,000 income is housed somewhere. And that country very much wants their tax share of it. You can play the full time travel all you wish, as I do, but it won’t give you tax non-residency. In whatever country that 320k is produced, there is a corresponding tax bill.

With Uncle Sam, your only possible exit is renouncing citizenship.

And yes, depending on the source of the income, he could very much benefit tax wise from LTR

a month ago

Reply to

Todd *********

Garrett ***********

@Colin ******

Immigration has nothing to do with the LTR. And passive vs active income has nothing to do with it being taxable or non-taxable.

a month ago

Colin *******

@Garrett **********

correct, in theory. My experience, with multiple LTR applications is that without a tax return showing passive income the LTR processing folks do not like it and raise just about every question they can and then reject it without any explanation or discussion as to why.. income, documented from super fund and receipts into bank account supplied well in excess of required amount. Being tax exempt these amounts do not show on a tax return. But they keep asking and I keep sending. They really can't get their head around passive income that does not show on a tax return, especially if one can decide how much to draw every year.

a month ago

Jurgen ********

@Colin ******

had the same issue, provided all kind of evidence of passive income but BOI insisted on official tax return which I still cannot provide because of substantial delays and my objection against the 2023 tax statement.

Not sure why they are so focused on this…

a month ago

Reply to

Jurgen ********

Colin *******

The issue is that, IMO, immigration folks just do not appear to understand how your income is not taxable. Same with Aussie Super - they just don't like it. It is probably a lot easier to pony up the $500k and invest in Thailand. Then go for the Wealthy Global Citizen. With the dividend income you state this should be no big deal. The recent (last week) changes mean that there is no longer an income hurdle with this option .

a month ago

Willem ****

Colin Faith

LTR visa is no immigration responsability. Its the Board of investment BOI. They handle LTR requests

a month ago

Colin *******

@Willem ***

correct, and they consult with other agencies, immigration being one of them. However let's not get into the technicalities - Somone does not understand untaxed passive income very well.

a month ago

Pim ******

ORIGINAL POSTER

@Colin ******

yes guys, I know. I am not searching for a retirement visa only. I am through with overseas Thai embassy or standing for hours in Changwatthana with Mianmari and Indians. I also paid thousands of bath to helpful helpers, but it’s the hassle and nuzzle that comes with it. It’s not really the money, even though I am stingy … lol … I would even pay for a VIP line and the years with paying a “fee” to be first in line is done.

So in 2019 I paid the 1 Mio baht for a 20 years Elite retirement visa that confirmed a tax free status as well. At least they advertised it like that.

After the Corona fake, they established a new Visa, called LTR for wealthy people or pensioners and others. For the wealthy ones, they confirmed a tax free status. That is what I am looking for.

I optimized all my assets and passive income to hold it in countries where they maintain tax exempted status for dividends, profits from real estate after 5 years and profits from direct investments or shares. That is mostly Liechtenstein, Switzerland, Hungary and Dubai.

After Thailand signed the AIA rules and ratified OECD after the WEF World economic forum 2021, they introduced 35% taxes on all and they also introduced tax avoidance with no tax exemption on nothing! So, even though for example dividends are tax free in Liechtenstein, you have to pay tax in Thailand following the new tax rules and the tax avoidance laws.

As I am getting older I decided to have a long term retirement residency in Thailand, but need a tax exempt status. I lived long years as an international traveler and can afford first class suites Emirates, but after some years, I am tired of traveling to avoid the 180 days in any of my preferred countries. I am not bragging, but hope to speak to people having some dozens of Mio Eur or usd on the account, self earned by the way, and they understand my concerns….

In my case, tax in Thailand would mean 35 Mio baht every year and this is really tooooo much, since I would pay 12% only in Switzerland and zero in Dubai. Switzerland is too cold and Dubai too hot. So Thailand is the choice for the last quarter….

So, I am looking for a tax free visa and not just a retirement visa.

a month ago

Reply to

Pim ******

Paul *******

@Pim *****

why not just get the retirement visa?

a month ago

Vijay *****

I gave up...similar situation...opted for DTV visa..no headaches

a month ago

Reply to

Vijay *****