Transcript of the above video:

As the title of this video suggests, we are discussing so-called Thai LTR Visas. LTR stands for Long-Term Residence. As we have discussed many times in other videos, I don't wish to sound like a broken record but it's a point this worth bringing to the foreground because a lot of people get confused about this. It is not Residence, it is not Lawful Permanent Residence here in Thailand. As we have discussed in many other videos, there is Permanent Residence in Thailand; it does confer actual Residence in Thailand. Those who have Thai Permanent Residence are covered by a different section of the Thai Immigration Act of 1979 and they do not have to deal with the same requirements that Non-immigrant Visa holders have to deal with. This LTR Visa is a Non-Immigrant Visa. It's a longer Non-Immigrant Visa but it is not Residence per se. 

Meanwhile, the thrust of this video goes to the issue of insurance. I thought of making this video after reading a recent article from the Pattaya Mail, that is pattayamail.com, the article is titled: City Hall pluses and minuses at heart of Pattaya expat assessments. Again, the thrust of this article is not exactly what we are talking about in this video. I am going to quote a small excerpt but I urge for watching this video go check out that article in detail. Quoting directly: "Already 3 million Baht in cover (or an equivalent sum in available cash) is a technical requirement for O-A Retirement extensions and the new 10-year Long-Term Resident Visa." Yeah, insurance is a requirement with the Long-Term Resident Visa, with this LTR Visa category. Again, it doesn't provide Residence but it provides long stay status here in Thailand but it does have this 3 million Baht in insurance coverage requirement or having 3 million Baht just put into a lump sum into a Thai Bank Account can also meet the requirement. 

For many, the insurance requirement is too onerous for them to go ahead and use the LTR to maintain their long-term status in Thailand. There may be other options aside from the LTR Visa or if you feel like the LTR Visa is right for you, it may not be a bad idea to contact a legal professional, gain some insight and guidance into how best to proceed.