Transcript of the above video:

As the title of this video suggests, we are discussing the LTR visas which is kind of a popular topic at the moment as it is just kind of being rolled out. I got to thinking of making this video when I was reading a recent article from the Pattaya Mail, that's pattayamail.com, the article is titled: Thailand's 10 Year visas will be launched September 1. Quoting directly: "Another targeted group are the digital nomads - a somewhat shadowy breed who apparently travel the world with a suitcase computer and require only a Wi-Fi connection on the beach or in a café - and may feel in need for a more secure visa. Thailand is well-known as a popular hangout but this may have more to do with the fact that nomads are invariably ignored by Thai Immigration as long as they are not obviously stealing jobs from the locals. The LTR has detailed rules for the nomads, including showing a detailed contract, proving earnings over the past two years and reporting annually to the Thai Inland Revenue." That is a good point. I may do a specific video on that topic probably not this week, not in the same time period as we are making this video. Yeah the Inland Revenue, the fact is that there is a tax. Now it's a lower tax base but it is 17% compared to the standard but that then presumes you are going to be reporting in, presumably yearly to the Thai Revenue Department in connection with maintaining your Visa status here in Thailand. That is a very different thing from say a standard Thai O Retirement Visa, that is not a requirement and for example, things like Thai Business Visas obviously if you have a Work Permit you are tied into the Revenue Department System but there may be other, Thailand Elite you don't have that requirement associated with Thailand Elite, so something to think about there. Quoting further: "Compared with the Indonesian nomad visa which guarantees a five year tax exemption, or some Caribbean countries which even offer citizenship, the Thai version looks cumbersome." Well candidly, I can see where Indonesia may sort of need high net worth folks to kind of help their economy and Caribbean countries offering citizenship, well that has been going on a long time now and I get it. Grenada may need an extra $80,000 or whatever it is right now. I am not pointing out Grenada but let's just say forget that. Some Caribbean Nation may need a certain amount of investment and they are willing to offer nationality in association with that investment. Thailand doesn't do that and it doesn't appear to me they are particularly willing or interested in doing that for a variety of different reasons. So I think comparing those two things, probably not an apples to apples comparison.

I would urge those who are watching this video, check out that article, it provides a lot of insight. I just quoted a little except there, there is a good deal of information in there. A big one though and something to really think about is "yeah there is this Inland Rev. for lack of a better term what they call Inland Revenue, what is called the Revenue Department here in Thailand, it looks to me like that is a reporting requirement associated with the Revenue Department and maintenance of this Visa.