Looking for a country to relocate to? Thailand is a great Asian destination that attracts tourists and highly qualified staff who can work online. You can get a long-term resident visa that is granted to foreigners who are financially independent (these can be rentiers, retirees, digital nomads, and their dependents). You can obtain a Non-Immigrant B Business Visa (that can be acquired very easily if you delegate all administrative issues to a local partner company) or an Elite Visa if you can afford VIP services and different benefits (you can obtain it for as long as two decades!). However, you can also take advantage of a Thailand Long-Term Resident Visa that was launched on September 1, 2022, in an attempt to attract more well-to-do foreigners.
If you want to find out more details about Thai and other long-term visa programs, welcome to our portal. You will find a large knowledge base of articles written by practical experts who help people with relocation issues on a daily basis and share useful tips. You can also book a session with our experts to discuss all the details and choose the most suitable jurisdiction and program for you – and it’s free! Should you need help with any documents or administrative issues, we will be happy to assist you. You can get a visa with a minimum effort – just contact us!
Potential Applicants for Thai Long-Term Residence Visa
The aim of the Thai government is to attract 1 million well-to-do talented foreigners in the next 5 years. It will help to bring technology expertise and a talented workforce, stimulate spending and investment in the country, and thus support economic development. Here are the categories of foreign citizens that can qualify for the visa:
- Wealthy citizens of any country that own assets worth at least 1 million US dollars
- Wealthy retirees aged 50 and more who receive a sufficient pension or have a high passive income
- Telecom professionals and digital nomads who work for reputed foreign companies
- Highly skilled specialists working in the industries that are critical for Thailand’s economy (design and manufacture of electric vehicles, electronics, defense industry, and medical production). You can get a relevant long-term visa if you are a highly qualified specialist who works for a local commercial organization, higher educational establishment, government agency, research center, or specialized educational institution.
- Dependents of the above persons: spouses and financially dependent children under 20 (no more than 4 dependents per one visa holder).
Thailand Long-Term Resident Visa: Main Benefits
Let’s look at the advantages provided to Thai LTR Visa holders:
- Taxes. Some LTR visa holders qualify for a reduced personal income tax rate: highly qualified staff will pay 17% (while other individuals will have to pay 35% if their income exceeds 140,000 US dollars a year).
- Business. If the non-resident previously received a Thai LTR visa, he is exempted from the requirement to hire four Thai citizens. This is done to ensure that the scheme is suitable for small and medium business owners.
- Immigration. If you get a Thai LTR Visa, you will be entitled to accelerated immigration and customs control when the border is crossed at international airports. In addition, the immigration rules related to non-residents are simplified: for example, you are not required to file reports to the immigration service every 90 days (you can submit them once a year). You don’t have to get a special permit to re-enter Thailand, either.
- Administrative support. Thai LTR Visa holders can obtain the services that facilitate immigration and get Thai’s Digital Work Permit.
Requirements for Applicants
Equity capital and value of investment assets
Wealthy citizens are required to:
- Possess assets worth at least 1 million US dollars
- Receive a personal income of at least 80,000 US dollars a year (in the previous two years)
- Invest no less than 500,000 US dollars in local government bonds, buy real estate in Thailand, or make foreign direct investments
Wealthy retirees are required to:
- Receive a personal income of no less than 80,000 US dollars a year
- Invest no less than 250,000 US dollars in local government bonds, buy real estate in Thailand, or make foreign direct investments
Both categories should have a medical insurance policy with coverage of at least 50,000 US dollars and a minimum deposit of 100,000 US dollars.
Requirements for highly qualified professionals
- You should have a personal income of 80,000 US dollars in the two years that precede the application date.
- If you receive an annual income from 40,000 to 80,000 US dollars in the preceding two years, you should additionally have a Master’s degree in science and technology or special knowledge related to work in Thailand.
- They should be employed in industries that are essential for the Thai economy or higher educational establishments, government institutions, specialized education institutions, or research institutions.
- They should have at least 5 years of experience in the industry that is of critical importance to the Thai economy, except for those with a Ph.D. degree or working in local government institutions.
- They should have a medical insurance policy with coverage of at least 50,000 US dollars and a minimum deposit of 100,000 US dollars.
Thai LTR Visa: How to Obtain
- Register on the e-government website and send an application for a preliminary eligibility check along with supporting documents.
- Wait for the verification results that will be sent to you within no more than 30 business days.
- If you are approved, apply for a visa abroad or in Thailand within 60 days from the date of receiving a confirmation letter.
- Pay for the application processing upon receipt of the visa (THB 50,000 for a 10-year visa per dependent).
- If you work or intend to work in Thailand, you can obtain a digital work permit from the Department of Employment (the permit application processing fee is THB 3,000).
Conclusion
If you feel that you need additional information or help with obtaining a Thailand LTR Visa, do not hesitate to click on the above link and get in touch with our experts. We will do our best to choose the best route to Thailand for you tailored to your specific needs and help you obtain a visa without much hassle!
