Thailand has introduced a new visa called “Long-Term Resident (LTR Visa)” which is a program that provides a 10 year visa and a range of tax and non-tax benefits. This new visa program is expected to attract new foreign residents, technologies and talents contributing to domestic spending and investment while supporting economic growth.
LTR visas will be offered to four categories of foreigners: Wealthy Global Citizens, Wealthy Pensioners, Work-from-Thailand Professionals, and Highly-Skilled Professionals. Spouses and dependents of LTR visa holders will also qualify for the same visas.
To qualify as a “Wealthy Global Citizen” you must
– Have at least USD 1 million (36 mill THB) in assets
– Have earned 2.9 mill. THB per year for the last 2 years
– Have invested 18 mill. THB in Thai government bonds, foreign direct investment, or Thai property.
If you are a “Wealthy Global Pensioner”, you must
– Have an annual income of 2.9 mill. THB at the time of application
– If you ‘only’ had 1.5 mill. THB in annual income you can still qualify if you invest 9 mill. THB in Thai government bonds, foreign direct investment, or Thai property.
The “Work From Thailand Professional” category is also called “Nomad”. To qualify as a nomad you must:
– Have an annual income of minimum 2.9 mill. THB.
– Be employed by a Public Company Limited listed on the Stock exchange or by a minimum three year old company with a minimum of 5.4 Bill. THB in revenue for the past three years
– Have at least 5 years of work experience in the relevant fields of the current employment over the past 10 years
– If you have ‘only’ 1.5 mill. THB in annual income you must also have a Master Degree. Plus the rest.
If you are a self employed nomad, called “Highly-Skilled Professional”, the qualifications are in essence similar to the above.
The Thai government hopes that there will be one million qualifying people who will take this offer and move from wherever they created this wealth to live in Thailand. To help make up their mind, if they qualify, they will only have to do 90 days reporting once a year.