When you want to retire in Thailand, there are mainly two visa options available:
- the standard retiree visa, known as the Non-Immigrant O visa based on retirement
- the Long-Term Resident (LTR) visa under the Wealthy Pensioner category.
The LTR visa offers several benefits, especially its 10-year validity, potential foreign-sourced income tax treatment, and annual reporting instead of 90-day notifications. On paper, it sounds ideal. But is it really better than the standard retirement visa?
To help you decide, this article provides a detailed comparison between the Non-Immigrant O retirement visa and the LTR visa, so you can choose the option that fits your retirement plans in Thailand.
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Contents
- Key Takeaways
- What Is the LTR Visa for Retirees?
- LTR vs Retirement Visa Thailand
- Real-World Cost Comparison
- LTR vs Non – Immigrant Visa “O - X” Visa
- Who Typically Chooses the LTR Visa?
- Our Verdict – Is the LTR Visa Worth It for Retirees in Thailand?
- Frequently Asked Questions
- Can I get a Thai Tax ID with the LTR visa?
- Can I buy property with an LTR?
- Do I need to file Thai income tax?
- Can I switch from a retirement visa to an LTR?
- What happens after 10 years?
- Can dependents join?
- Does my pension qualify as income?
- Do you have any recommended insurance?
- Is the LTR Visa the Same as Permanent Residency?
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Key Takeaways
- The LTR visa offers 10-year validity, annual reporting instead of 90-day reports, multiple re-entry included, and potential tax treatment on certain foreign-sourced income. It requires at least US$40,000 per year in passive income.
- The tax advantage is often misunderstood. You are not automatically tax-free. Only certain types of foreign income may receive preferential treatment.
- If your passive income is between US$40,000 and US$80,000 per year, you will likely need to invest US$250,000 in Thailand. For many retirees, this is the real deciding factor.
- Over 10 years, total visa-related costs can be lower with the LTR visa.
- The standard retirement visa remains a practical option. It’s simpler, faster to process, and does not require a large investment.
- The LTR visa tends to make the most sense if you:
- Plan to live in Thailand long term
- Transfer significant foreign income into Thailand
- Want fewer immigration visits
- Are already planning to buy property worth US$250,000 or more
What Is the LTR Visa for Retirees?
Let’s start with a clear overview of the Long-Term Resident (LTR) Visa. It’s managed by the Thailand Board of Investment (BOI) to attract high-profile foreigners by offering additional benefits in return.
There are several LTR categories. One of them is the Wealthy Pensioner category, designed specifically for those who want to retire in Thailand.
Key Benefits of the Long-Term Resident (LTR) Visa – Wealthy Pensioner Category
Here’s what you get with the LTR Visa under the Wealthy Pensioner category:
- 10-year validity: Stay in Thailand for 10 years, issued as 5 years plus 5 years renewable
- Multiple-entry visa: Leave and re-enter Thailand as often as you like while the visa is valid
- Fast-track services: Use fast-track lanes at selected airports, including Suvarnabhumi Airport, which can save you hours during busy periods
- 1-year reporting: Report once a year instead of every 90 days. If you travel in and out of Thailand annually, you may not need to file a report at all
- Tax exemption: One of the biggest advantages. Certain types of foreign-earned income tax are exempted. We’ll explain this in more detail below
It’s also worth noting that you can apply for a digital work permit with an LTR visa if you want to work legally in Thailand, although this is not relevant for most retirees.
Additional Benefits
Since the LTR visa is managed by the BOI, it comes with two additional advantages:
- Convenience: You handle visa matters at the One Stop Service Center instead of a regular immigration office. In Bangkok, it’s located at One Bangkok, directly connected to MRT Lumphini, which makes the process more convenient.
- Stability: The requirements are less likely to change in the near future, while standard retirement visa regulations do get updated from time to time.
Requirements
I would like to separate the requirements into two categories: general requirements and financial requirements.
General Requirements
To apply for the LTR visa under the Wealthy Pensioner category, here are the general requirements:
- Age: You must be at least 50 years old
- Criminal record: You must have no criminal record
- Health insurance: One of the following:
- Health insurance with at least US$50,000 coverage
- Thai Social Security coverage
- A deposit of at least US$100,000 in a Thai bank account under your name for at least 12 months
Overall, the general requirements are quite similar to the standard retirement visa in Thailand.
Financial Requirements
Since the LTR visa is designed to attract high-profile foreigners, the financial requirements are significantly higher and not suitable for everyone.
There are two options:
- Option 1: At least US$80,000 in annual passive income for the past two years
- Option 2: Annual passive income between US$40,000–US$80,000 + an investment of US$250,000 in Thailand through one of the following:
- Government bonds with no less than five years remaining maturity
- Direct investment in Thai companies
- Thai property
*By passive income, this generally means pensions, interest, dividends, royalties, rental income, and similar sources. Employment income, director’s fees, and allowances are not counted under this category.
Good to know about investments: While all three investment options are available, the Thai property route, typically through buying a condo, is the most popular. It’s straightforward and allows you to live in the property during retirement. Government bonds can be more restrictive, as allocations may be limited and subscription windows can close quickly.
Application Process
There are both good and bad aspects to the LTR visa under the Wealthy Pensioner category.
- The good part: the process is fairly straightforward. You can complete almost everything online, except for getting the visa stamp.
- The downside: it can take time. On average, the process may take around 60 days, as approval involves multiple government agencies.
Here’s a general overview of the application process:
- Create an account on the BOI website and submit your application online
- Wait for approval. During this period, check your email regularly, as the BOI officer may request additional documents
- Once approved, get your visa stamp at the One Stop Service Center if you are in Thailand, or at a Thai embassy or consulate near you
I won’t go into too much detail here, as the BOI officer will usually guide you step by step during the application process.
Visa Fee
THB 50,000. The exact amount may vary slightly depending on the Thai embassy or consulate where you apply.
What Kind of Tax Is Exempted Under the LTR Visa?
This is one of the most misunderstood aspects of the LTR visa. Many people assume it makes you completely tax-free. That’s not accurate.
Since we’re not tax experts, we don’t want to give incorrect advice. So we asked Khun Wannaphan Chaddamrong, Attorney-at-Law at Expat Tax Thailand, “How does the foreign-sourced income exemption actually work in practice for a typical retiree?”
Here is her full reply.
“For a typical Wealthy Pensioner LTR holder receiving a foreign pension, the exemption operates within the Thai tax system rather than outside it. In practice, qualifying foreign-sourced pension income can be exempt from Thai personal income tax, provided the LTR conditions are met and the visa remains valid for the relevant tax year.
However, exemption from tax does not automatically remove filing considerations. Where income is remitted into Thailand, it may still be appropriate to disclose that income on a Thai tax return and formally record the exempt position. The return becomes the mechanism through which the exemption is recognised within the system.
Another important point is timing. The exemption applies only to income earned while the LTR visa is valid. If income was earned before the LTR visa was granted and is later remitted to Thailand, different tax considerations may arise, and the individual may still be required to file and potentially pay tax if they are Thai tax resident in that year. For this reason, we always recommend reviewing both the source of income and the period in which it was earned.
The exemption also does not remove the need to consider Thai tax residency status. If an individual is tax resident in Thailand, filing considerations can still arise even where qualifying income is exempt.
Although there may not always be a strict filing obligation in every case, in order to benefit from the LTR visa tax exemption it is generally advisable to file a tax return and formally record the exempt position. This ensures the exemption is properly recognised and creates a clear compliance record for the relevant tax year.”
Wannaphan Chaddamrong, Attorney-at-Law from Expat Tax Thailand
Based on her reply:
- Your foreign pension can be exempt from Thai personal income tax if the required conditions are met.
- The tax exemption only applies while the LTR visa is valid. You should plan the timing carefully before remitting money to Thailand.
- Thai tax residency rules still apply. This means Thailand-sourced income remains subject to Thai personal income tax.
Real-World Example of an LTR Visa Tax Exemption
In our experience advising LTR holders, the exemption works smoothly when the income qualifies and the visa conditions are maintained. However, it is important to understand that exemption is applied through the tax system, not outside it.
The return is the mechanism that formally records the exempt position. That clarity can be valuable if the Revenue Department later reviews remittances into Thailand.
Wannaphan Chaddamrong, Attorney-at-Law from Expat Tax Thailand
LTR Visa Tax Misconceptions
Because the LTR visa tax exemption is often misunderstood, we asked Khun Wannaphan: “Is there a common misconception about LTR visa tax benefits that you regularly?”
And she said:
The most common misconception is that ‘LTR means no tax return’. In reality, the LTR visa provides a tax exemption for qualifying income under specific conditions, but it does not remove individuals from the Thai tax system altogether.
The Thai Revenue Department can see remittances coming into Thailand through the banking system. If no return exists for a tax year, any future review may place the burden of explanation on the taxpayer. Many LTR holders therefore approach filing as a documentation and risk-management decision rather than a tax calculation exercise.
Another misunderstanding is that all LTR categories are treated the same. The Wealthy Global Citizen and Wealthy Pensioner categories commonly fall within the exemption framework, but other LTR categories follow different tax rules and often require a more detailed review.
Is It Worth the US$250,000 Investment?
This is a key question for LTR applicants under the Wealthy Pensioner category who earn between US$40,000 and US$80,000 in passive income per year.
In practice: Many LTR applicants choose to purchase property to meet the requirement, as it’s the most straightforward option. It can make sense if you carefully select the property and plan to stay long term.
Apitsada Bunditchart, Attorney at Law, Baan Thai Immigration Solutions
Thailand’s property market is relatively stable. While it’s not known for sharp declines, it also doesn’t guarantee high returns. In some areas, reselling a property can still be challenging depending on market conditions.
Some retirees simply buy a comfortable condo and live in it. Since they need a place to stay anyway, they don’t focus too much on ROI.
In the end, the decision depends on your financial goals and how you plan to structure your retirement in Thailand.
How to Maintain the LTR Visa?
After your LTR visa is approved, you need to continue meeting the key requirements tied to your application, including:
- Maintaining your qualifying investment
- Maintaining the required annual income
- Keeping valid health insurance coverage
If you no longer meet the income, investment, or insurance requirements at the 5-year renewal stage, your extension may not be approved.
LTR vs Retirement Visa Thailand
Now that you understand the LTR visa for retirees, the big question is how it compares to the standard retirement visa. Here’s a side-by-side comparison:
| Category | LTR Visa (Wealthy Pensioner) | Non-Immigrant O (Retirement) |
| Minimum Age | 50+ | 50+ |
| Visa Validity | 10 years (5+5) | 1 year, renewable annually |
| Financial Requirement | Minimum USD 80,000 per year in pension income, or lower income with investment conditions | 800,000 THB in a Thai bank OR 65,000 THB per month income OR combination method |
| Thai Bank Deposit Required | Not required | Yes, if using the deposit method |
| Reporting | Every 1 year | Every 90 days |
| Re-entry Permit | Multiple re-entry included | Must apply and pay for a re-entry permit |
| Work Rights | Can apply for a digital work permit | Not allowed |
| Health Insurance | Required with minimum coverage | Not required if extending Non-O inside Thailand |
| Immigration Visits Over 10 Years | Minimal, mainly annual reporting | Annual renewals plus 90-day reports |
| Fast Track Service | Yes | No |
| Tax Considerations | Potential preferential treatment on certain foreign-sourced income | No special tax incentives |
| Visa Processing Time | Around 60 days | Around 15 working days |
| Estimated Total Visa Fees for 10 Years | 50,000 THB | Around 57,000 THB, assuming renewal and multiple re-entry permits each year |
Based on the table, the LTR visa is better than the Non-Immigrant O visa in several areas:
- Dealing with immigration: It gives you 10 years instead of requiring annual renewals. And I can tell you, renewing a visa every year isn’t fun.
- Reporting: Once a year instead of every 90 days
- Tax advantages: Certain foreign-sourced income may receive preferential treatment
- Faster airport processing: This may seem minor, but fast-track access can save you a lot of time
On the other hand, it’s worse in these areas:
- Much higher financial requirements
- Longer processing time, around 60 days instead of about 15 working days
- More complex documentation during the application process
- Depending on your income level, you may also need to invest US$250,000 in Thailand
For retirees who regularly remit overseas pension or investment income into Thailand, the LTR structure can provide greater certainty around how qualifying income is treated, provided all conditions are met.
Wannaphan Chaddamrong, Attorney-at-Law from Expat Tax Thailand
Real-World Cost Comparison
This is another big question: how does the total cost compare between the LTR visa and the retirement visa over 10 years?
Here’s a side-by-side comparison.
| Cost Type | LTR Visa (10 years) | Retirement Visa (10 years) |
| Visa Fee | 50,000 THB | Around 57,000 THB, assuming annual renewal and multiple re-entry permits |
| Optional Lawyer Fee | Around 60,000 THB | Around 20,000 to 30,000 THB |
| Transportation to Immigration | Around 500 THB | Around 5,000 THB over 10 years, assuming 500 THB per year |
| Total Estimated 10-Year Cost | Around 110,500 THB | Around 257,500 to 357,500 THB |
Based on this comparison, the retirement visa may be cheaper if you don’t need a multiple-entry permit each year. For other requirements, such as health insurance, the costs are generally similar.
However, the real question is whether you are comfortable investing US$250,000 in Thailand if required. That’s a personal financial decision only you can make.
LTR vs Non – Immigrant Visa “O – X” Visa
When it comes to the Non-O-X visa, the situation changes. It’s also a 10-year visa like the LTR, but with a lower annual income requirement of THB 1,200,000. The visa fee is also cheaper at around THB 10,000.
However, two key requirements of the O-X visa is:
- You must deposit THB 3,000,000 in a Thai bank account for at least one year. After the first year, you can withdraw up to THB 1,500,000, but it must be spent in Thailand
- You now need mandatory health insurance like the LTR visa.
So if you don’t want to invest US$250,000 in Thailand, the O-X visa can be a reasonable alternative. That said, you won’t receive the potential tax advantages or fast-track airport services that come with the LTR visa.
Note: The Non-O-X visa is available to only 14 nationalities, including Americans, British, Japanese, Canadians, Germans, and a few others.
Who Typically Chooses the LTR Visa?
Based on our observation, these are the types of retirees who tend to choose the LTR visa:
- High-net-worth retirees
- Those already purchasing property worth more than US$250,000
- Those planning to buy property in Thailand anyway
- Retirees who do not want to deal with immigration bureaucracy
- Those who want a 10-year visa without worrying about potential changes to retirement visa rules, which do get updated from time to time
- Those planning to stay in Thailand most of the year and regularly transfer significant foreign income into Thailand
Our Verdict – Is the LTR Visa Worth It for Retirees in Thailand?
In our opinion, the LTR visa can be worth it if you:
- Want long-term stability with a 10-year visa
- Plan to spend more than 180 days per year in Thailand and potentially benefit from tax treatment
- Want to reduce immigration hassle from annual renewals and 90-day reporting
- Are comfortable investing US$250,000 in Thailand, if your passive income is between US$40,000 and US$80,000
On the other hand, the LTR visa may not be suitable if you:
- Plan to stay in Thailand fewer than 180 days per year
- Do not plan to transfer significant funds into Thailand
- Prefer a simpler application process
- Do not want to commit a large investment in Thailand
If you need personalized advice, you can speak with Baan Thai Immigration Solutions. They are an immigration law firm in Thailand and can provide guidance and assist with your application.
Frequently Asked Questions
Here are some common questions about the Long-Term Resident (LTR) visa under the Wealthy Pensioner category:
Can I get a Thai Tax ID with the LTR visa?
Yes. You can apply for a Thai Tax ID at your local Revenue Department office.
Can I buy property with an LTR?
Yes, you can buy a condo under the same rules that apply to other visa holders. Foreign ownership in a condominium building must not exceed 49%.
Do I need to file Thai income tax?
The tax filing rules are the same for all visa holders. In general:
- If you stay in Thailand for 180 days or more in a calendar year, you are considered a Thai tax resident and should file Thai income tax.
- If you earn Thailand-sourced income, you must file Thai income tax regardless of how many days you stay in Thailand.
Can I switch from a retirement visa to an LTR?
Yes, as long as you meet all LTR requirements. You can apply from within Thailand or from abroad.
What happens after 10 years?
You can apply for a new LTR visa if you still meet the requirements at that time.
Can dependents join?
Yes, dependents can join under these conditions:
- Maximum of four dependents per LTR visa holder
- Must be a legal spouse
- Children must be under 20 years old
- Each dependent must meet one of the following:
- Health insurance with at least US$50,000 coverage
- Thai Social Security coverage
- An additional US$25,000 deposit per dependent in a Thai bank account
Dependents can apply only after the main applicant receives LTR approval, and each must create a separate BOI account.
Does my pension qualify as income?
Yes, pension income generally qualifies under the Wealthy Pensioner category.
Do you have any recommended insurance?
It depends on your needs. If you want international coverage, Cigna Healthcare offers comprehensive and flexible plans, though they are not the cheapest.
If you prefer a more budget-friendly option, Luma has competitive local plans.
You can also check our health insurance guide for more details.
Is the LTR Visa the Same as Permanent Residency?
While the name can be confusing, the LTR visa is not permanent residency. In theory, it’s possible to apply for Thai permanent residency through the LTR route, but it’s difficult under the Wealthy Pensioner category, similar to the standard retirement visa.
The process for obtaining permanent residency in Thailand is also long and complex, and may not be worthwhile for most retirees. You can read our guide to Thailand permanent residency to learn more.
Special Thanks
We would like to thank Khun Apitsada Bunditchart, Attorney-at-Law at Baan Thai Immigration Solutions, and Khun Wannaphan Chaddamrong, Attorney-at-Law at Expat Tax Thailand, for providing helpful insights for this article.
