The Tourism Authority of Thailand (TAT) was glad to announce that from September 1, 2022, foreigners can apply for the new ‘Long-Term Resident (LTR)’ visa. This visa will provide numerous benefits to its holder, including a 10-year visa which can be extended and permission to work in the kingdom.
Mr Yuthasak Supasorn, the governor of the Tourism Authority of Thailand (TAT), said “The new long-term resident visa is aimed at enhancing Thailand’s attractiveness to ‘high-potential’ foreigners as a regional hub to live and do business in. Also, it will embrace a crucial role to promote Thailand as a ‘Remote Worker Friendly’ destination and help us tap this targeted segment. It is expected to attract foreign talent and expertise that can contribute to domestic spending and support economic growth. With the long-term resident visa, the Thai government wants to bring one million wealthy and talented foreigners to Thailand in the next five years.”
There are four categories of foreigners who can apply for the LTR visa:
- Wealthy global citizens – must possess assets worth over US$1 million, personal income must be over US$80,000 per year in the past two years, and are able to invest over US$500,000 in Thailand.
- Foreign retirees – must have a personal income of over US$80,000 per year.
- Work-from-Thailand professionals – must have a personal income of over US$80,000 per year in the past two years, work experience of more than five years, and be employed in a legally registered company which has an income of over US$150 million within the past three years.
- Highly skilled professionals – must have an income of over US$80,000 per year, have particular industry-related skills, and have over five years of work experience.
The benefits of holding an LTR visa in Thailand are as follows:
- An LTR visa holder can also sponsor up to four people, including their spouse and offspring;
- The visa is valid for 10 years with an option to extend;
- The holder is only required to report to immigration once a year instead of every 90 days;
- Fast track service at international airports in Thailand;
- Multiple re-entry permits;
- Will be allowed a digital work permit to work in Thailand;
- Highly skilled professionals will have to pay 17% less of the original rate of personal income tax;
- The four Thais to one foreigner employment requirement ratio will not be applicable to them.