Transcript of the above video: 

As the title of this video suggests, we are discussing, well we are discussing the new Elite Visa which I've discussed in other videos. Basically, starting from December 15, it is possible to get a 5-year Elite Visa through this new Bronze Elite Visa program. This will be open for roughly 6 months; I think it's going to stop in June or July of 2025. As I have discussed in other videos, I do find this creation of this Visa and the timing of it to be somewhat portentous insofar as I think it could be an omen of things with respect to the Destination Thailand Visa. I've discussed that in another video made contemporaneously with this one. But with regard to the LTR Visa, for those looking at the LTR, this Elite Visa may be something of a “side-step” with regard to tax compliance with the LTR. What am I talking about? 

As we have discussed in other videos, LTR touts its ability to allow somebody a mitigated sort of tax liability here in Thailand. Depending on the category of visa they get, you may be able to stipulate to a 17% rate of taxes associated with one's physical presence here in Thailand. Again, as we discussed in other videos, if you're in Thailand for more than 180 days, you could be considered tax resident here in the jurisdiction. 

But that said, what am I talking about with regard to sidestepping it? Well with the LTR I have cautioned against this. They have said themselves and I made the video on this and I have cited the sources, they have said themselves at the 5-year mark, people that are in the LTR are going to be subject to an audit. I can see that being a problem for a number of reasons because in a tax context, you don't want to stipulate to tax jurisdiction, tax rates etc., and you definitely don't want to be stuck in a stipulating situation where you're being audited. But that said, we don't know exactly what this looks like because the Visa hasn't existed for long enough to see anybody actually go through the process; it hasn't been around for the requisite five years yet. Meanwhile, this newly created Elite Visa could in theory take somebody past the 5-year mark of the existence of the LTR and thereby allow them to witness exactly what happens to those people who are in the LTR system and whether or not they end up in a demonstrably more detrimental situation when the time comes to be dealing with that audit. 

So, the reason for this video is for folks who may be looking at the LTR and you have heard about this new Elite Visa, it could be a good way of getting long-term status in Thailand, without necessarily having to stipulate to tax jurisdiction here in the Kingdom of Thailand.