Thailand Long Term Resident Visa

The Thailand Long Term Resident Visa is a new visa designed to attract high potential foreigners who are looking to relocate to Thailand for the long term. The Thai government hopes that this scheme will bring in over 1 million eligible foreigners, who are drawn to Thailand’s low cost of living and vibrant lifestyle, while helping to stimulate overseas investment.

The LTR Visa is a 10-year, renewable visa that is designed to appeal to a wide range of high-potential foreigners who want to relocate to Thailand for the long term. It is aimed at those with high net worths, who wish to invest in the country’s economy through foreign direct investment or real estate. It is intended to attract those who would benefit from a discount on personal income tax (PIT) rates, a digital work permit and reduced requirements for hiring staff in Thailand.

Those who qualify for this visa are classified into three categories: Professionals working in targeted industries, Retirees and Investment Holders*. The first category consists of professionals or experts in target industries working for Business entities, institutions and government agencies in Thailand. The second category comprises retirees who have invested in Thai government bonds through foreign direct investment and/or have an annual income of at least USD 40,000 over the last two years, and who are receiving a pension.

In addition, applicants with an annual income of between USD 40,000 and USD 80,000 and who own intellectual property or have received “Series A” funding, can also apply for this visa. Those with a Master’s degree or above in science and technology or special expertise relevant to the job assignment in Thailand are also eligible.

Retirees

Retirees can apply for the visa if they have at least USD 500,000 in assets, including an O Bank account balance of at least USD 100,000. They must be at least 50 years old and have invested in Thai government bonds through foreign direct investments or invested in real estate in Thailand.

The requirement for evidence of minimum personal income is waived if the applicant is working in one of the target industries for 5 years. Those with an annual income of between USD 40,000 to USD 80,000 can also apply if they have a Master’s degree or above in the targeted industry or have received a PhD in the same field.

Investment holders

Those who are investors in Thailand’s economy can also apply for this visa if they have invested at least USD 500,000 through foreign direct investment or invested in real estate. They must have an annual income of at least USD 80,000 over the past two years, and their net worth must be at least USD 1 million.

These foreign investors must also have entered into an employment agreement or service agreement with domestic or international businesses and have been assigned to work in the target industries. In the case of those who work for a Thai educational institute or government sectors, the requirement for evidence of minimum personal income will be waived.