After three years of pandemic, which significantly affected the global economy in many countries, in September 2022, the Thai Board of Investment (BOI) announced a new visa program aimed at revitalizing the Thai economy by attracting wealthy foreigners interested in staying and investing in Thailand for a period of 10 years. This program offers privileges such as tax benefits and support for establishing or incorporating their businesses, facilitating their integration into Thai society.
This initiative, known as the 'Long Term Residence Visa (LTR visa),' encompasses four categories: Wealthy global citizens, Wealthy pensioners, Highly skilled professionals and Work from Thailand specialist
Criteria:
Pension or passive income of at least USD 80,000/year at the time of application*
In case of Pension or passive income below USD 80,000/year but no less than USD 40,000/year, applicants must invest at least USD 250,000 in Thai government bonds, foreign direct investment, or Thai property such as Condominium, villas etc.
Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit in Bank account balance under your name for no less than 12 months
*Active income such as earned income and salaries will not be considered for the personal income requirement
Criteria:
Personal income of minimum of USD 80,000 per year in the past two years
In case of personal income below USD 80,000/year but no less than USD 40,000/year in the past two years degree or above or own intellectual property or receive Series A funding
Have an employment contract with a public company listed on stock exchange or a private company that is operating for at least 3 years, with a minimum combined revenue of USD 150 million for the last 3 years
At least 5 years working experience during the last 10 years in a field relevant to current work position or field of expertise
Insured under a health insurance covering a minimum of USD 50,000 OR currently receiving social security benefits in Thailand OR deposit and maintain at least USD 100,000 in bank account balance under the applicant’s name for no less than 12 months
Criteria:
Personal income of minimum of USD 80,000 per year in the past two years
Applicants who are working for Thai government agencies are exempt from minimum personal income requirements for this visa type
In the case that average personal income is lower than USD 80,000 but not lower than USD 40,000, the applicant must show additional documents as proof of qualification, i.e. a certificate for master’s degree or higher in sciences and technology
Employed by contract in either Thai or foreign company whose activities fall under the scope of the targeted industries* OR the applicant must provide proof of expertise in the fields specified by BOI*
At least 5 years working experience during the last 10 years in specified targeted industries. Applicants with a PhD or higher degrees and applicants working for Thai government agencies, including public higher education institutes, research institutes, and specialized training institutes are exempt from this requirement
Insured under a health insurance covering a minimum of USD 50,000 OR currently receiving social security benefits in Thailand OR deposit and maintain at least USD 100,000 in bank account balance under the applicant’s name for no less than 12 months
Insured under a health insurance covering a minimum of USD 50,000 OR currently receiving social security benefits in Thailand OR deposit and maintain at least USD 25,000 per one dependent in bank account balance under the applicant or the dependent’s name for no less than 12 months.
Dependents must be legal spouse or children of one LTR visa holder.*
10 years renewable visa*
Exemption from 4 Thais to 1 foreigner employment requirement ratio
Fast Track Service at International Airport in Thailand
1-year report and multiple
re-entry permit
Permission to work in Thailand
(Digital Work Permit)**
17% Personal income tax for High-Skilled professionals
Tax exemption for foreign-source income brought into the country
4 Dependents
*The 10-year visa permission has been divided into two 5-year terms. Qualified applicants are granted 5 years initially, and must re-submit documents at least 60 days before the expiration date to demonstrate continued qualification for the second 5-year term.
The government fee is a one-time payment.
**Work from Thailand Professional category cannot apply for a digital work permit because they are employed by a foreign employer, not a Thai employer.