Thailand has launched the new Long Term Resident (LTR) Visa.

It is aimed at attracting ‘high potential’ foreigners who would like to live and work in Thailand for a ten year period.

There are four target groups under the LTR visa:

  • High income individuals
  • Retirees
  • Remote workers
  • Professionals with special skills

LTR visa holders will be entitled to bring four family members with them. They can also apply to legally work and pay taxes in Thailand.

Here’s a rundown of the four streams and the associated eligibility criteria.

High Income Individuals

Wealthy global citizens are eligible to apply if they satisfy all of the below criteria:

  • USD 1 million in assets
  • Income of $80,000 per year over the last two years
  • Invest $500,000 in Thai government bonds, foreign business investment or Thai property
  • Health insurance with $50,000 coverage or $100,000 deposited in Thai or overseas bank account for at least 12 months preceding application

Retirees

Wealthy pensioners are eligible to apply for the LTR visa if they satisfy the following:

  • Current annual income of $80,000
  • If income is lower than $80,000 but higher than $40,000 – you must invest $250,000 in Thai government bonds, business investment, or Thai property
  • Health insurance with $50,000 coverage or $100,000 deposited in Thai or overseas bank account for at least 12 months preceding application

Remote Workers

Work-from-Thailand professionals can apply for the Long Term Resident visa if:

  • Income of $80,000 per year over the last two years
  • If income is less than $80,000 but more than $40,000 – must have either a Master’s degree, own intellectual property or receive Series A start-up funding of $1 million
  • Employed by a publicly listed company or private company in operation for three years with $150 million revenue over three years
  • Five years experience in targeted industries during the last ten years
  • Health insurance with $50,000 coverage or $100,000 deposited in Thai or overseas bank account for at least 12 months preceding application

Professionals

Highly skilled professionals working in targeted industries can apply if:

  • Income of $80,000 per year over the last two years
  • If income is less than $80,000 but more than $40,000 – must have a Master’s degree in science and technology or relevant special expertise
  • No income requirement for professionals working for Thai government agencies
  • Working in higher education, research institution, training institution or Thai government agency
  • Five years work experience in targeted industry or PhD qualification
  • Health insurance with $50,000 coverage or $100,000 deposited in Thai or overseas bank account for at least 12 months preceding application
  • Targeted industries include automotive, electronics, tourism, agriculture, food processing, robotics, aviation, biochemistry, digital technology, medical and defense

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Thai immigration

Who is the LTR visa good for?

There was some excitement in remote worker circles when the Long Term Resident visa was first announced. It was being touted as a digital nomad visa and a big reform in Thai immigration policy to suit the 21st century.

The LTR visa is primarily focussed on bringing wealthy foreigners into Thailand. Unfortunately it isn’t a good match for most digital nomads as many will not meet the $80,000 minimum income requirement. For people in this category there are other options available for staying in Thailand so not all is lost.

If you are a digital nomad or remote worker who earns over $80,000 a year then this will be a great opportunity to come and live in Thailand for an extended period. And to enjoy all the perks that come with that.

What is the tax situation?

Successful applicants of the Long Term Resident visa will be eligible to apply for a work permit. This enables you to legally work in Thailand and treat Thailand as your tax residency base.

The personal tax rate will be set at a flat 17%.

And all overseas income will be exempt from tax.

What are the other features of the Thai LTR visa?

Thailand LTR visa holders will also benefit from the following:

  • Multiple entry permit
  • Annual reporting rather than 90-day reporting
  • Digital work permit
  • Five year visa that can be extended a further five years – Ten years total
  • Exemption from 4:1 Thai/Foreigner employment ratio

We have done our best to ensure the information provided here is accurate at the time of publishing. But changes in immigration policy can happen at short notice so please be aware of that.

If you would like assistance applying for the Thai LTR visa or any further information regarding the visa you can do that here.

You can also contact Thai immigration for more information.