Thailand's long-term residence (LTR) visa was officially implemented on September 1, 2022, aiming to attract more foreigners to live and work in Thailand. The new visa program is expected to attract new foreign residents, skills and talents to settle in Thailand and help boosting the economy. The Thai government expects to attract 1 million wealthy or talented foreigners to apply in the next five years.

It is quite attractive to professionals who yearn for life in Thailand but can work remotely. The privileges that offer to LTR Visa applicants:

1. 10 -year renewable visa (Permission will be given to stay in Thailand for the first time for five years, which may be extended for five years if the qualifications are met.)
2. Exemption from 4 Thais to 1 foreigner employment requirement ratio
3. Fast Track Service at International Airport in Thailand
4. 90-day report extended to 1-year report and exemption of re-entry permit
5. Multiple re-entry permit
6. Permission to work in Thailand (Digital Work permit)
7. 17% personal income tax for Highly-skilled professional
8. Foreign Income Tax Exemption
9. Immigration and work permit facilitation services at One Stop Service Center for Visa and Work Permit

Five types of foreigners can obtain LTR visas and apply for eligibility:

• Wealthy Global Citizens
  • Holding the least 1 million US dollars in assets.
  • Annual income of not less than 80,000 US dollars in the past 2 years at the time of application.
  • Invest at least 500,000 US dollars in Thai government bonds, foreign direct investment (FDI) or Thai real estate.
  • Health insurance with at least 50,000 US dollars coverage or social security benefits insuring treatment in Thailand or at least 100,000 US dollars deposit.
• Wealthy Pensioners
  • Pensioners aged 50 and above with a stable retirement annuity or income.
  • Annual income of not less than 80,000 US dollars in the past 2 years at the time of application.
  • If the applicant's personal annual income is less than 80,000 US dollars but not less than 40,000 US dollars, the applicant must invest in Thai government bonds, foreign direct investment (FDI) or Thai real estate at least 250,000 US dollars.
  • Provide financial evidence of current income, such as bank statements, retirement plans, proof of retirement benefits, and past 12 months of monthly or annual pension or bank statements.
  • Health insurance with at least 50,000 US dollars coverage or social security benefits insuring treatment in Thailand or at least 100,000 US dollars deposit.
• Work-from-Thailand Professionals
  • Remote workers working for well-known overseas companies.
  • Annual income of not less than 80,000 US dollars in the past 2 years at the time of application.
  • If the applicant's personal annual income is less than 80,000 US dollars but not less than 40,000 US dollars, the applicant must have a master's degree or above, or have a certain intellectual property right or receive Series A funding.
  • The current employer needs to be a company listed on the Stock Exchange or has been operating for no less than 3 years, and has accumulated income in the past 3 years Thai private companies with an income of not less than 150 million US dollars.
  • In the past 10 years, the applicant has more than 5 years of work experience in the field related to the current position.
  • Health insurance with at least 50,000 US dollars coverage or social security benefits insuring treatment in Thailand or at least 100,000 US dollars deposit.
• Highly Skilled Professionals
  • Professionals or experts in targeted industries working for business entities or higher education institutes or research centers or specialized training institutions in Thailand or Thai government agencies.
  • Annual income of not less than 80,000 US dollars in the past 2 years at the time of application.
  • If the applicant's personal annual income is less than 80,000 US dollars but over 40,000 US dollars, the applicant must have a Master's degree or above in the field of science and technology or have special expertise relevant to the job assignment in Thailand.
  • No minimum personal income requirement for professionals working for Thai government agencies.
  • The applicant has more than 5 years of work experience in the target industry (with a PhD or above in this field, or for except for those working in Thai government agencies).
  • Health insurance with at least 50,000 US dollars coverage or social security benefits insuring treatment in Thailand or at least 100,000 US dollars deposit
• The spouse and dependents (up to 4 persons) under the age of 20 of the LTR visa holder will also be eligible for the same visa.

It is worth noting that if the wealthy global citizens and wealthy pensioners have an annual income of no less than 80,000 US dollars in the past two years, they need to invest a specified amount in Thailand, and investment in real estate is also included. Residential projects with freehold or leasehold property rights can be counted. You need to provide the deed / title deed and the formal property sales and purchase agreement when applying for a long-term resident visa,

Freehold: Condominiums or buildings or houses, on top of the land, in the name of the applicant.

Leasehold: Condominiums, buildings or houses on top of the land or land being leased in the name of the applicant with a remaining time of lease agreement of no less than 10 years as of the date of application.

If you plan to live in Thailand for a long time, investing in residential projects not only meet the application requirement, but also solve the living needs.

The above information is for reference only. For more detailed information, you are advised to inquire with Thai embassies or consulates abroad. For more information and application for LTR visa, please visit official website https://ltr.boi.go.th/index.html.

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