The Thai government has a policy to offer privileges to foreign investors and has launched a new type of visa, ”Long-Term Resident Visa: LTR Visa,” from 1 September 2022, to attract new high-potential foreigners with skills and expertise in modern technology and wealthy individuals, as well as those wishing to work from anywhere in the world. Thailand is one of the main destinations for tourists and expatriates from around the world.
The LTR Visa will provide benefits to four groups of foreigners:
1. “Wealthy Global Citizens” must have assets worth at least 1 million US dollars and have a personal income of at least US$80,000 per year and invest in Thailand not less than $500,000;
2. “Wealthy Pensioners” must have a personal income of not less than $80,000 per year;
3. “Work-from-Thailand Professionals” must have a personal income of at least $80,000 per year, with at least 5 years of work experience working in a legally registered company and a company with a turnover of not less than $150 million within the past 3 years;
4. “Highly-skilled Professionals” must have a personal income of at least $80,000 per year, with expertise in a targeted industry and working experience of not less than 5 years.
As for the benefits for LTR Visa holders, they will have the right to stay in Thailand for 10 years (renewable), except for the employment ratio of 4 Thai employees to 1 foreigner; to use a fast track to enter and exit Thailand at an international airport; to report themselves every year (previously every 90 days); are not required to apply for a re-entry permit; are allowed to work in Thailand (“Digital work permit”); are entitled to personal income tax reduction to 17% for highly-skilled professionals; and have a maximum of 4 followers.
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