Transcript of the above video:

As the title of this video suggests, we are discussing Long-term Resident Visas so-called, so called LTR Visas here in the Kingdom of Thailand. First of all as I have stated in other videos this notion that this is a Resident Visa, it is not. It is just a really long Non-Immigrant Visa. We have discussed this in other videos so that is kind of a misnomer but oftentimes these things get kind of labeled and it just kind of sticks and that is what we are calling it for now. 

What we are talking about here is the visa for so-called "wealthy individuals" and quoting from a recent article in the Thaiger, thethaiger.com, the article is titled: Who is eligible for a 50,000 Baht 10 year LTR Visa in Thailand? The fine print. We are just going to go into a subset here where they talk about wealthy foreigners and retirees, groups 1 and 2. There are four categories and again as we have discussed, this has not actually been promulgated as actual either legislation or regulatory structure as of yet. I anticipate it probably will be coming. Exactly when remains to be seen and the actual regulations being rolled out will come after that. So it could take a little while here. It might not even be in 2022 when this actually comes online for practical purposes. A recent article from again the Thaiger, quoting directly:

"Groups 1 & 2: Wealthy foreigners and retirees. (So they kind of group these into two sections of the subgroups). Quoting directly:

• Must purchase a health insurance policy which covers medical expenses of no less than US$50,000 for at least 10 months starting from date of the application OR provided a social security certificate covering medical expenses in Thailand OR provide proof of at least US$100,000 held in a Thai or foreign bank account for at least 12 months prior to the application date.

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

So there is an income requirement; there might be a financial balance requirement but there is certainly an insurance requirement that is going to be associated with these wealthy individual Long-Term Resident Visas that Thailand is bringing online. Again, as we have discussed in other videos, I have kind of always thought this is going to apply to a relatively narrow subset of folks out there who are looking to be in Thailand long term. It is always good to see another Visa option come online, so I hope I don't come off as pessimistic. I am optimistic about this program but until we see the actual regulatory framework and we see how these visas are issued, how the rubber hits the road, it is kind of an exercise in speculation until then.