Thailand LTR Visa (Long Term Resident Visa) is a newly Introduced Visa by the Thai Government Aiming to attract Rich Foreigners to Come and Invest or Work from Thailand and Get the Privilege of the Possibility of Staying in the Kingdom for up to 10 Years. The Requirements and Eligible Groups who are able to Apply and get this Visa are different from all other Visa Types in Thailand.
The Thai Government has Identified 4 different group Categories able to apply for the Thailand LTR Visa. These 4 Groups are: Wealthy Global Citizens, Wealthy Pensioners, Work from Thailand professionals and the Highly Skilled Professionals. We will go through the Requirements needed from Each Group when applying for this Visa in this Article.
What are the Privileges that will be Offered to Thailand LTR Visa Holders?
When holding the LTR (Long Term Resident Visa), you will get access to several Benefits and privileges as per below Details:
- 10 Years Renewable Visa.
- Fast Pass: LTR Visa Holders will get a Fast Track Service upon arrival and Departure at International Airports in Thailand.
- 1 Year Report to the Immigration Bureau instead of 90 days reporting. (Other Long Term Visas Such as Thailand Retirement Visa requires its Holders to do the Immigration Reporting Every 90 Days)
- Multiple Entry Visa.
- Permission to work in Thailand: LTR Visa Holder will be able to get a Digital Work Permit and work in Thailand.
- 17% Personal Tax Rate for Highly Skilled Professionals
- Exemption from Taxes for Overseas income
- Exemption for the 4 Thais to 1 Foreigner Ratio Employment Requirement.
- Immigration and work Permit Facilitation Services at One Stop Service Center for Visa and Work Permit.
Thailand LTR Visa Eligible Criteria For Each Group Category of Applicants
Wealthy Global Citizens
The Thai Government will Classify a person as a Wealthy Global Citizen if Meeting one of the Below requirements:
- Having at Least 1 Million US Dollars in Assets.
- The Applicant is earning a Personal Income of a Minimum of 80,000 US Dollars Per year during the Past 2 Years.
- Investing a Minimum amount of 500,000 US Dollars in Thai Government Bonds, Thai Property or Foreign Direct Investment (FDI).
In addition to the above requirements, the Applicant must have a Health insurance with a Minimum of 50,000 US Dollars Coverage or Social Security benefits that ensure Treatment in Thailand or having at Least 100 Thousands US Dollars Deposit
Wealthy Pensioners
The Thai Government and the Thailand Board of Investment will Classify A person as a Wealthy Pensioner if they meet one of the below requirements:
- The Applicant must have at Least 80,000 US Dollars Personal income Per Year or an Equivalent amount at the Time of application.
- In case the Yearly Income of the applicant is between 40,000 USD and 80,000 USD, Applicant must Invest a Minimum Amount of 250 thousands US Dollars in Thai government Bonds, Thai Property or Foreign Direct Investment (FDI).
In addition to the above requirements, the Applicant must have a Health insurance with a Minimum of 50,000 US Dollars Coverage or Social Security benefits that ensure Treatment in Thailand or having at Least 100 Thousands US Dollars Deposit
Work From Thailand Professionals
The Thai Government will Consider an Applicant as a Work From Thailand Professional if Meeting One of the Below requirements:
- Having a Personal yearly income of at Least 80 thousands US Dollars For the Past 2 Years, Or In case the Personal income is between 40,000 US Dollars and 80,000 US Dollars per year during the Past 2 Years, applicant will need to present a Master’s Degree or Above, Receive Series A Funding, or is owning an intellectual property.
- The Current Employing Company is a Public Company on a Stock Exchange or is a Private Company that has been operating for a Minimum of 3 years, and having a Combined Revenue of a Minimum of 150 US Dollars during the Past 3 Years.
- Having a Minimum of 5 years Working Experience in a Relevant Field of the Current Employment during the Past 10 Years.
In addition to the above requirements, the Applicant must have a Health insurance with a Minimum of 50,000 US Dollars Coverage or Social Security benefits that ensure Treatment in Thailand or having at Least 100 Thousands US Dollars Deposit
Highly Skilled Professionals
The Thai Government will Consider an Applicant as a Highly Skilled Professional if Meeting One the Below requirements:
- Having a Personal yearly income of at Least 80 thousands US Dollars For the Past 2 Years.Or In case the Personal income is between 40,000 US Dollars and 80,000 US Dollars per year during the Past 2 Years, applicant will need to present a Master’s Degree or Above in Science and Technology or any other Special Expertise relevant to the Job Assignment in Thailand. In case the applicant is a Professional working for a Thai Government Agency, Then No Minimum Personal Income is required.
- The Current Employer must be a Business or Higher Education institution, Specialized Training institution, Thai Government Agency in any Targeted industry, or a research institution.
- Applicants must have at least 5 years of working experience in Targeted industries, This is not applied for applicants who are holding a PHD or Above in the Targeted Industries/ Relevant Fields, or for applicants working for Thai government Agencies.
In addition to the above requirements, the Applicant must have a Health insurance with a Minimum of 50,000 US Dollars Coverage or Social Security benefits that ensure Treatment in Thailand or having at Least 100 Thousands US Dollars Deposit
LTR Visa application and issuance
- Applicants must Register and Submit an Online Application with all Supporting Documents Needed as mentioned in the Article above.
- The Application and the Documents Submitted will be revised by the Immigration and Thailand Board of Investment (BOI) within 20 Days from the date of Application Submission)
- Once the Applicant is Qualified, He can Proceed to the Nearest Royal Thai Embassy or Consulate Generals (If applying from Overseas) within 60 days from the issuance Date of the Endorsement Letter. In case the applicants are in Thailand While applying for the LTR Visa, they can Collect the Visa from Thai Immigration offices instead.
The processing fee for the 10 Years Visa of LTR with Multi Entry Permits is 50,000 Thai Baht. - In case applicants are Planning to work in Thailand or are currently working in Thailand, They Can collect the Digital Work Permit at the Department of Employment at the One Stop Service Center for Visa and Work Permit. The Processing fee is 3000 THB per year to maintain the Digital Work Permit.
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