Thailand’s Long-Term Residents Visa (LTR)
Finally, Thailand has introduced their Long-Term Residents Visa recently for those have been looking to stay in the Kingdom for long term. With this type of visa, Thai government is expecting to attract new foreigner technologies and industry professionals as well as wealthy investors and retirees.
Thailand has always been a fantastic destination for those looking to work remotely and has been attracting so many digital nomads lately. With this new visa type the expectation is to get more than one million talented, special skilled or wealthy foreigners in the next few years.
Thailand Long-Term Residents Visa Privileges
The Thailand Long-Term Residents Visa offers a range of privileges designed to attract and accommodate foreign nationals. This visa provides a renewable stay of up to 10 years, initially granting a five-year residence that can be extended by an additional five years upon meeting certain qualifications. Visa holders are exempt from the employment requirement ratio of four Thais to one foreigner, ensuring greater flexibility in the workplace. They also benefit from expedited Fast Track Service at international airports across Thailand.
The visa extends the mandatory 90-day report to a one-year report and includes a multiple re-entry permit, eliminating the need for separate re-entry permits. Holders are granted permission to work in Thailand with a digital work permit and highly-skilled professionals enjoy a reduced personal income tax rate of 17%. Additionally, there is a tax exemption for income earned overseas. Comprehensive immigration and work permit services are provided through the One Stop Service Center for Visa and Work Permit, streamlining administrative processes for residents.
Who Is Eligible for Thailand Long-Term Residents Visa
Thailand Long-Term Residents Visa is designed for four groups of individuals. They are pensioners with certain income, high earning individuals, professionals who work from Thailand and highly skilled professionals. Also, children or spouses of Long-term Residents Visa holders eligible to obtain a dependent visa.
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Long-Term Residents Visa for Wealthy Pensioners:
For retirees aged 50 and older seeking residence in Thailand, the Long-Term Residents Visa offers an attractive option, contingent on having a minimum unearned or passive income of USD 80,000 per year at the time of application. Eligible income sources include pensions, rental income, capital gains, dividends, and interest payments, excluding earned income or salaries. If the unearned income falls between USD 40,000 and USD 80,000 annually, applicants must additionally invest USD 250,000 in Thai government bonds, direct investments in Thai-registered companies, or Thai property. (Can foreigners buy property in Thailand?)
Furthermore, applicants must have health insurance coverage of at least USD 50,000, receive social security benefits in Thailand, or maintain a bank account balance of at least USD 100,000 for a minimum of 12 months.
Download The Required Documents
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Long-Term Residents Visa for Wealthy Global Citizens:
For wealthy individuals seeking a Long-Term Residents Visa in Thailand, the requirements include holding at least USD 1 million in assets under their name and having a minimum average personal income of USD 80,000 per year over the past two years. Applicants must also invest a minimum of USD 500,000 in Thai government bonds, direct investments in Thai-registered companies, or Thai property.
Additionally, they must either have health insurance covering at least USD 50,000, receive social security benefits in Thailand, or maintain a bank account balance of at least USD 100,000 for the past 12 months.
Download The Required Documents
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Long-Term Residents Visa for Professionals Who Work from Thailand:
For remote workers employed by well-established overseas companies, the Long-Term Residents Visa in Thailand offers an appealing opportunity. Applicants must have a minimum average personal income of USD 80,000 per year over the past two years. If their income is between USD 40,000 and USD 80,000, they must provide additional qualifications, such as a master’s degree or higher. Eligibility also requires an employment contract with a publicly listed company or a private company that has been operating for at least three years and has a minimum combined revenue of USD 150 million over the past three years.
Applicants should have at least five years of work experience in the last ten years in a field relevant to their current position or expertise.
Additionally, they must be insured with health coverage of at least USD 50,000, receive social security benefits in Thailand, or maintain a bank account balance of at least USD 100,000 for no less than 12 months.
Download The Required Documents
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Long-Term Residents Visa for High-skilled Professionals:
For professionals or experts in targeted industries seeking a Long-Term Residents Visa in Thailand, specific criteria must be met. Applicants must have a minimum average personal income of USD 80,000 per year over the past two years. However, those working for Thai government agencies are exempt from this income requirement. If an applicant’s income is between USD 40,000 and USD 80,000, they must present additional qualifications, such as a master’s degree or higher in sciences and technology.
Employment must be with a Thai or foreign company engaged in targeted industries, or the applicant must demonstrate expertise in fields specified by the Board of Investment (BOI).
A minimum of five years of work experience in the targeted industries within the last ten years is required, although applicants with a PhD or higher degrees, as well as those working for Thai government agencies, public higher education institutes, research institutes, and specialized training institutions, are exempt from this requirement.
Additionally, applicants must have health insurance covering at least USD 50,000, receive social security benefits in Thailand, or maintain a bank account balance of at least USD 100,000 for no less than 12 months.
Download The Required Documents
How to Apply for Thailand’s Long-term Residents Visa?
First things first you need to check the requirements to see if you are eligible for Thailand’s Long-term Residents Visa. Once you think you are eligible, you will need to download to PDF that shows the required documents and make sure you have all those documents ready. Once it’s ready, you can apply and submit the online application form from here.
Once all the documents required are obtained, it will take around 20 days to receive an answer. During this stage the applicants may be requested to submit some additional documents or information.
Once everything is approved, the applicants will be called to Thai Embassy or Consulate abroad or Work Permit Center in Thailand to obtain the visa. The processing fee for 10-year visa with Multiple-Entry is 50.000 THB per person in Thailand. This fee might be higher if the application is made through agencies overseas.
LTR Visa holders who plan to work for an entity in Thailand must apply for a work permit immediately after receiving their LTR Visa or before their employment begins. This application is made through the LTR Visa application system and typically takes 3-5 working days, though additional documentation may extend this period.
Once the work permit request is approved, visa holders can schedule an appointment to collect the permit at the Department of Employment at the One Stop Service Center for Visa and Work Permit, located in Chamchuri Square Building, Bangkok.
The processing fee is 3,000 Baht per year. While the work permit request is being processed, LTR Visa holders are temporarily permitted to work in Thailand without it. However, work permits are not issued to Work-From-Thailand Professionals under this visa category, as they work remotely for foreign employers and do not have Thai employers, aligning with the digital work permit’s intended purpose.
For more information, you can check Thai Government’s Long-Term Residents Visa page directly.
