The Thai government has launched a new long-term residence visa "LTR Visa" (Long-Term Resident Visa), which was officially signed in Bangkok on September 1, and the visa is valid for 10 years.
The 10-year long-term residence visa is a policy that the Thai government grants privileges to foreign investors. Thailand hopes that this move will attract wealthy or highly skilled people with millions of overseas assets to move to Thailand and help promote Thailand’s post-pandemic economic development.
In order to achieve the purpose of attracting talents, holders of long-term residence visas can enjoy multiple benefits.
LTR Visa Privileges
★ The 90-day report is extended to once a year, no need to apply for a re-entry permit
★ The 4:1 employment quota for foreigners can be exempted
★ Reduction of personal income tax to 17% (high-skilled talents)
★ You can use the airport express entry and exit lanes
★ Can bring up to 4 family members
★ Get a digital work permit
Compared with Thailand's existing popular visa, the elite visa, the long-term residence visa has the right to work and the right to carry family members that the former does not have, and the overall cost-effectiveness is higher.
So who is the Thailand long-term residence visa suitable for? What are the application requirements?
01 Global HNWIs
Income requirements:
★ Have assets of not less than 1 million US dollars;
★ In the 2 years before the visa application, the personal annual income is not less than 80,000 US dollars;
★ Invest at least US$500,000 to purchase Thai government bonds, real estate, and establish or invest in Thai businesses.
other requirements:
The following relevant evidence must be provided:
★ Health insurance covering insured treatment of at least 50,000 baht in Thailand;
★ social insurance covering treatment in Thailand;
★ A bank account balance of at least $100,000.
02 Wealthy Retirees
Income requirements:
★ The annual personal pension income is not less than 80,000 US dollars;
★ If your annual income is between US$40,000 and US$80,000, you need to invest US$250,000 to purchase government public bonds, international direct investment (FDI) or real estate.
other requirements:
The following relevant evidence must be provided:
★ Health insurance covering insured treatment of at least 50,000 baht in Thailand;
★ social insurance covering treatment in Thailand;
★ A bank account balance of at least $100,000.
03 Telecommuters living in Thailand
Income requirements:
★ In the past 2 years, the average annual personal income of not less than 80,000 US dollars;
★ In the past two years, the annual income is between 40,000 and 80,000 US dollars. Applicants should have obtained a master's degree or above, possess intellectual property rights, or have obtained A round of financing of not less than 1 million US dollars.
Work requirements:
★ In the past 10 years, no less than 5 years of relevant work experience;
★ The current employer must be a listed company on any country's stock exchange, or a private company with a total revenue of not less than $150 million over the past 3 years.
other requirements:
The following relevant evidence must be provided:
★ Health insurance covering insured treatment of at least 50,000 baht in Thailand;
★ social insurance covering treatment in Thailand;
★ A bank account balance of at least $100,000.
04 Professional Skilled Person
Income requirements:
★ In the past 2 years before the visa application, the personal annual income is not less than 80,000 US dollars;
★ In the past two years, the annual income is 40,000-80,000 US dollars, and the applicant must have a master's degree or above.
Work requirements:
★ 5+ years of work experience in "target industries" including next-generation automotive, smart electronics, advanced agriculture and tourism, digitalization, robotics and automation, aviation and logistics, biofuels and biochemicals, and medical hubs.
other requirements:
The following relevant evidence must be provided:
★ Health insurance covering insured treatment of at least 50,000 baht in Thailand;
★ social insurance covering treatment in Thailand;
★ A bank account balance of at least $100,000.
It is worth noting that the long-term residence visa in Thailand is regarded as an immigrant visa, and its holder has the opportunity to apply for Thai permanent residence or even citizenship, provided that other conditions are met.
However, the 10-year long-term visa LTR in Thailand is obviously only for high-net-worth specific groups, and the threshold is relatively high. If you want to live in Thailand for a long time, you can also consider the "elite visa".
"Elite Visa" is a national-level club membership created by the Thai government to promote the development of Thailand's tourism economy and attract global elites from all walks of life in the form of national-level club members.
"Thailand Elite Visa" members can enjoy VIP-level benefits, and enjoy world-class services and privileges in health, transportation, leisure, vacation and other activities.
If you have more questions about Thailand [Long Term Residence Visa] and [Elite Visa], please call or send us a private message. Xingyunhai International will provide you with "private customization, exclusive service", welcome to inquire!
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