Are you interested in a long-term resident visa to Thailand (Thai LTR Visa), which is available to wealthy financially independent foreigners (including rentiers and retirees), highly-qualified specialists, digital nomads, as well as their dependents? You’ve come to the right place! Below are the financial and formal requirements for obtaining this long-term visa to Thailand, a list of supporting documents, and a description of the process of obtaining the Thai LTR Visa. If you have any further questions after reading the information, you are welcome to ask our experts about all the details.
- The “Target Audience” of Thai LTR Visa
- The Key Advantages a Long-Term Resident Visa to Thailand Provides
- Requirements to Foreigners Applying for Thai LTR Visa
- Documents Required for Obtaining a Long-Term Resident Visa to Thailand
- The Process of Obtaining a Long-Term Resident Visa to Thailand
- Getting Assistance with Obtaining a Long-Term Resident Visa to Thailand (Thai LTR Visa)
Modern Thailand is one of the most important destinations for expats to Asia, attracting both tourists and professionals who have the opportunity to work from anywhere. Until recently, two specialized relocation routes were available to such guests:
- Non-Immigrant B Business Visa, which offered a considerably simplified if the emigrant was relocating to Thailand through the special relocation partner program, which involves delegating taxation, immigration and other tasks to a local partner company; and
- Thai Elite Visa available to wealthier clients, who have been ready to pay more for the VIP service and numerous advantages and benefits. In particular, it is possible to obtain Thailand Elite Visa for exceptionally long terms – up to two decades.
In an effort to attract successful and wealthy foreigners who, for whatever reason, are not interested in the 2 options mentioned above, Thai authorities have announced the launch of a new immigration route called Thai LTR Visa (Thailand Long-Term Resident Visa).
The authorities started accepting applications for long-term resident visas to Thailand on September 1, 2022. Holders of the new visa are expected to contribute about $28,000 per person to the local economy, which amounts to an expected total capital influx of $27.6 billion through this scheme. In other words, Thai authorities hope to attract about 1 million immigrants with this new long-term resident visa.
The launch of Thailand’s new long-term visa comes amid the increased competition in the region to create new industries and supply chains. Supporters of tourist industry, hit hard by the pandemic, also welcomed the launch of the new visa program in the hope that it may invigorate high-yielding types of tourism.
Let’s study Thai LTR Visa in detail.
The “Target Audience” of Thai LTR Visa
The Thai government has set the goal of attracting 1 million wealthy and talented foreign residents over the next 5 years. Thailand’s new long-term resident visa is expected to help bring in additional residents, and with them – technology expertise and talent, boosting domestic spending and investment, while supporting positive economic momentum. What categories of foreigners are eligible for this long-term resident visa (Thai LTR Visa)? Following are the categories of foreigners eligible for this visa:
- Wealthy citizens of the world: Wealthy individuals who own assets with a total value of at least $1 million are eligible to apply for a long-term resident visa to Thailand;
- Wealthy retirees: Retirees aged 50+ who receive a significant pension or have stable and high passive income are eligible to participate in the immigration program;
- Thailand telecommunications professionals / digital nomads: Remote employees of well-established overseas companies can obtain a long-term resident visa (Thai LTR);
- Highly qualified persons: The Thai LTR Visa is also available to professionals/experts working in targeted industries that are critical to Thai economy, including electric vehicle design and manufacture, electronics, medical production and defense industry. For example, a long-term resident visa to Thailand is available to highly qualified employees of the following local establishments:
- commercial organizations;
- institutions of higher education;
- research centers;
- specialized educational institutions;
- government agencies of Thailand.
- Dependents of all of the above: Spouses at any age and children under 20, who are dependents of a Thai LTR visa holder (maximum 4 dependents in total per one visa holder) can also receive this type of visa.
The Key Advantages a Long-Term Resident Visa to Thailand Provides
Getting a Thai LTR visa offers many privileges designed to make a foreigner’s stay in Thailand easier in the long-term perspective and to reduce the bureaucratic burden. Following are the benefits of a long-term resident visa to Thailand:
- Taxes: Some Thai LTR Visa holders are eligible to pay personal income tax at a reduced rate. In particular, a personal income tax rate of 17% is available to highly qualified specialists (the tax rate on the income of other individuals can sometimes reach 35% if a person generates an annual income of over $140,000).
- Business: The requirement for employers to hire four Thai citizens per foreigner is withdrawn if the foreigner has previously received a long-term Thai LTR resident visa. This exemption is intended to ensure that the new visa scheme is suitable for the owners of small or medium companies and start-ups.
- Immigration: Getting a long-term resident visa to Thailand allows a person to count on an expedited process of immigration and customs control when crossing the border at international airports (the Fast Track Service). Additionally, it provides for the simplification of immigration rules relating to foreign residents. For example, the requirement to submit reports to the immigration service every 90 days is cancelled – instead, the holder of a long-term resident visa to Thailand has the right to submit reports once a year. There is also an exemption from the need to obtain a special permit for re-entry to Thailand.
- Administrative support: Long-term resident visa holders have access to services to facilitate immigration to Thailand and obtain a Digital Work Permit in Thailand.
Requirements to Foreigners Applying for Thai LTR Visa
Wealthy foreigners under 50 and retirees who are interested in obtaining a long-term resident visa to Thailand and getting access to a wide range of benefits must meet the following requirements:
|Criteria||Wealthy Citizen of the World||Wealthy Retiree|
|The amount of equity capital and the value of investment assets||• Total asset value of at least $1 million|
• Annual personal income of at least $80,000 (based on the two-year period preceding the date of application for a long-term resident visa to Thailand)
• Investing at least $500,000 in purchasing Thai government bonds / making foreign direct investments / purchasing real estate in Thailand
|• Annual personal income of at least $80,000 (at the time of applying for a long-term resident visa to Thailand)|
• Annual personal income within the range of $40,000 – $80,000
Investing a minimum of $250,000 in purchasing Thai government bonds / making foreign direct investment / buying real estate in Thailand
|Medical Insurance||Health insurance with a minimum coverage of $50,000 / Social security benefits covering medical treatment in Thailand / A minimum deposit of $100,000.|
The requirements for digital nomads / remote workers and highly skilled professionals are presented in the following table.
|Criteria||Working from Thailand – Professionals||Highly skilled professionals|
|High personal income||Annual personal income of at least $80,000 (based on the two-year period preceding the date of application for a long-term resident visa to Thailand)|
|Low personal income||With an annual personal income within the range of $40,000 – $80,000 over the two years prior to the application, the Thai LTR Visa applicant must at least demonstrate one of the following: a master’s degree / their own intellectual property / receiving “A”-series funding.||With an annual personal income in the range of $40,000 – $80,000 in the two years prior to the application, an applicant for a long-term resident visa to Thailand must demonstrate one of the following: a master’s degree in science and technology / special knowledge related to work in Thailand.|
There are no minimum personal income requirements for professionals working in government agencies in Thailand.
|Current employer||A publicly traded public company / a privately owned company that has been in business for at least three years and has a combined income of at least $150 million over the last three years.||• Business in any targeted industries that are critical to the Thai economy|
• Institution of Higher Education / Research Institution / Specialized Education Institution / Thai Government Institution
|Experience||Work experience for at least five years in relevant areas (in the current field of employment) in the context of the 10-year period preceding the receipt of the long-term resident visa to Thailand||A minimum of five years of experience in targeted industries critical to the Thai economy, excluding applicants with at least a PhD degree / applicants working in Thai government institutions.|
|Medical Insurance||Health insurance with a minimum coverage of $50,000 / Social Security benefits covering treatment in Thailand / Minimum deposit of $100,000.|
Documents Required for Obtaining a Long-Term Resident Visa to Thailand
|REQUIRED DOCUMENTS||Wealthy Citizen of the World||Wealthy Retiree||Digital Nomad / Remote Worker||Highly qualified specialist||Highly qualified specialist working in government agencies||Dependents|
|1||Copies of the applicant’s passport for a long-term resident visa to Thailand:|
• Personal details page + all pages with Thai visa stamps
• Passport should be valid for at least six months from the date of issue of a Thai long-term resident visa
• Minimum 2 blank pages in the passport
|2||Copy of certificate of change of name and/or surname||IF APPLICABLE|
|3||Documents related to family relations:|
• Spouse(s) of the holder of a long-term resident visa to Thailand – a copy of the marriage certificate
• Child under 20 – copy of birth certificate/certificate of child custody
|4||Copy of health insurance:|
• Minimum coverage of $50,000 including hospitalization in Thailand
• Mandatory affixing the seal of the insurance company and the signature of a competent insurer.
• Transfer of this document is allowed before the letter of notification on the decision of the authorities regarding the issuance of a long-term resident visa to Thailand is issued.
• Evidence of valid social security benefits providing hospitalization and treatment in Thailand.
• A bank statement for the previous 12 months showing a deposit of at least $100,000 plus an additional $25,000 for each dependent. A deposit opened at least 12 months prior to the application will be acceptable.
|5||Wealthy Global Citizens (minimum $500,000 investment in qualifying assets in Thailand) / Wealthy Retirees (minimum $250,000 investment in qualifying assets in Thailand):|
• A copy of the certificate of purchase of Thai government bonds in the name of the applicant
• List of shareholders indicating the name of the applicant as a shareholder (not older than 3 months)
• Portfolio Statement for the latest 12-month period issued by brokerage companies
• Certificate of investment in venture capital/a private investment fund registered with the Securities and Exchange Commission of Thailand.
• A copy of the certificate of ownership of the apartment in the condominium in the name of the applicant (not older than 3 months) and a copy of the contract of sale of the apartment in the condominium in Thailand
|6||Proof of ownership of $1 million worth of assets||☑|
|7||The applicant’s CV||☑||☑||☑|
|8||Documents confirming the fact of previous work in the relevant field for at least five years in the context of the decade preceding the date of application for a long-term resident visa to Thailand (for example, a copy of a letter issued by a previous employer)||☑||☑|
|9||• Certificate of qualification (e.g., a copy of university degree certificate)|
• Evidence of professional/academic achievement (e.g., research projects/ publications/ intellectual property/ awards/ certificate of professional qualification/ certification in a relevant field of expertise)
• Master’s degree / higher degree in science and technology (in the case of professionals working in companies with an annual income in the range of 40,000 – 80,000 $)
|10||• Evidence of intellectual property ownership|
• Master’s degree / higher degree (with an annual income within the range of $40,000-80,000)
• Proof of Series A funding of at least $1 million (with annual revenues in the range of $40,000-$80,000)
|11||For professionals working remotely from Thailand (digital nomads):|
• A copy of a certificate of employment / equivalent document signed by an authorized person of a foreign company, indicating the position in the company, monthly / annual salary, work experience
• A copy of the act / record of registration of the employing company
For a highly qualified specialist:
• A copy of a certificate of employment / equivalent document signed by an authorized person of a company in Thailand / private higher education institution / research institution / specialized educational institution indicating the position + monthly / annual salary + period of employment in the relevant organization
• Copy of employment certificate / equivalent document signed by an authorized person of a government agency in Thailand (government agency / public institution of higher education / research institution / specialized educational institution)
|12||Annual financial report / audited financial report of the company reflecting revenue for the last three years of at least $150 million||☑|
|13||1. Company Profile / Company Annual Report|
2. Brochures / catalogs
|IF APPLICABLE||IF APPLICABLE|
|14||Proof of Income Tax/Annual Income Tax Return showing at least $80,000 / $40,000 annual income for the previous 2 years.||☑||☑||☑|
|15||Financial proof of income in the current year. For example, a bank statement for the period of the last 12 months / pension certificate indicating monthly or annual pension.||☑|
|16||A letter issued by the country or countries of citizenship/ residence (within the last 10 years) of the applicant for a long-term visa to Thailand confirming that the applicant has no criminal record.||IF APPLICABLE||IF APPLICABLE||IF APPLICABLE||IF APPLICABLE||IF APPLICABLE||IF APPLICABLE|
The Process of Obtaining a Long-Term Resident Visa to Thailand
- An applicant for a long-term resident visa to Thailand must register on the e-government website and submit an online application for a preliminary eligibility check, attaching supporting / supporting documents to the application.
- Within 30 working days after the submission of documents, the applicant for a long-term resident visa will be notified about the results of verification by the Thai authorities.
- An approved applicant may apply for an LTR visa abroad (through the Royal Thai Embassy / Consulate General) or directly in Thailand (through the immigration office) within 60 days from the date when the confirmation letter is issued.
- Upon receiving the visa, its holder must pay for the application processing. The fee for obtaining a 10-year resident multiple entry visa is THB 50,000 for each person included in the application.
- Applicants working / intending to work in Thailand may obtain digital work permits from the Department of Employment at the One Stop Visa and Work Permit Service Center located in the Chamchuri Square Building in Bangkok / or from one of the Provincial Employment Offices. Permit Application Processing Fee is THB 3,000.
Getting Assistance with Obtaining a Long-Term Resident Visa to Thailand (Thai LTR Visa)
Would you like to learn more about obtaining a Thai LTR visa? Are you interested in getting a long-term resident visa in order to relocate to Thailand? The experts of our portal are ready to help you with choosing the best route to Thailand, tailored to your specific needs and capabilities. We will try our best to form an individual offer as soon as possible and start the process of obtaining a long-term resident visa for you.
Request a free consultation right now using one of the phone numbers in the form below. we recommend you to leave your personal email address so we could get in touch with you as soon as possible.
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What advantages does a long-term resident visa to Thailand give?
By choosing to obtain a long-term resident visa available from September 1, 2022, a foreigner acquires the right for long-term residence in Thailand. Please note that it is possible to extend the visa for a 10-year period. This eliminates the need to submit reports to the immigration office every 3 months (instead, the visa holder will have to file a report annually) and the need to obtain a re-entry permit every time. The visa additionally simplifies foreigners’ employment in Thailand and allows its holder to reduce the personal income tax rate to 17% (only for highly qualified specialists).
Who can get a long-term resident visa to Thailand (Thai LTR Visa)?
The opportunity to obtain a Thai LTR visa is available to four categories of foreigners: wealthy citizens of the world, wealthy retirees, remote workers in Thailand and highly qualified specialists employed by local organizations. Spouses and dependents of the Thai long-term resident visas are also entitled to apply for visas of the same type.
What were the Thai authorities trying to achieve when they launched the Thai LTR Visa?
A long-term resident visa (Thai LTR Visa) is offered by the Thai authorities in order to to attract skilled workers and wealthy investors. The authorities are planning to attract 1 million people from Japan and other advanced economies over the next five years. The introduction of a long-term visa is also intended to increase the competitiveness of local businesses operating in key sectors of the economy, including automotive industry, electronics and biotechnology.