Effective September 1, 2022, Thailand is introducing a new Long-Term Resident (LTR) visa targeting ‘high potential’ foreigners divided into four groups: Global Wealthy Citizens, Wealthy Pensioners, Work-From-Thailand Professionals and Highly-Skilled Professionals.
Privileges
LTR visa holders will benefit from the following privileges:
- 10-year renewable visa
- Exemption from 4 Thai employees to 1 foreigner quota requirement
- Permission to work in Thailand (Digital Work Permit)
- Fast Track Service at International Airports in Thailand
- 90-day report extended to 1-year report
- No re-entry permit needed
- Flat 17% personal income tax rate for Highly-Skilled Professionals
Qualifications & Criteria
Global Wealthy Citizens | Wealthy Pensioners | Work-From-Thailand Professionals | Highly-Skilled Professionals | |
Wealth, Investment & Personal income | Min. USD 1 million in assets
Personal income of min. USD 80,000/year in the past 2 years
Investment of min. USD 500,000 in Thai government bonds, foreign direct investment or in Thai property |
Annual pension of min. USD 80,000/year at the time of application OR
Annual pension of min. USD 40,000/year at the time of application and investment of min. USD 250,000 in Thai government bonds, foreign direct investment or in Thai property
|
Personal income of min. USD 80,000/year in the past 2 years OR
Personal income of min. USD 40,000/year in the past 2 years and the applicant must hold a Master’s degree, own intellectual property or receive series A funding |
Personal income of min. USD 80,000/year in the past 2 years OR
Personal income of min. USD 40,000/year in the past 2 years and the applicant must hold a Master’s degree in science and technology or others relevant to the job in Thailand * |
Current Employer | N/A | N/A | Private or public company operating for min. 3 years with a combined revenue of min. USD 150 million in the last 3 years | Business in any targeted industries OR
Higher education institute, research institution, specialized training institution or Thai government agency |
Work Experience | N/A | N/A | Min. 5 years in the current employer’s industry over the last 10 years | Min. 5 years in the targeted industries except for applicants holding a PhD in the targeted industries and for those working for Thai government agencies |
Health Insurance | Min. USD 50,000 coverage OR Social Security benefits in Thailand OR a bank deposit of min. USD 100,000 |
* No minimum personal income required for applicants working for Thai government agencies
Application Process & Fees
Applicants may submit their application online and shall be notified of the result within 20 working days. Qualified applicants shall receive an endorsement letter and may then proceed with submitting their LTR visa application to the Immigration Office in Thailand or Royal Thai Embassies/Consulates abroad within 60 days from the endorsement letter issuance date.
Those who work in Thailand may then collect their digital work permit as the LTR visa itself does not allow a foreigner to work in the country.
The government fees are THB 50,000 per person for the 10-year multiple re-entry LTR visa and THB 3,000 per person per year for the digital work permit.
Should you be interested in this LTR visa and potentially qualify, please feel free to contact us at contact@orbis-alliance.com.