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Thailand Eases Long-Term Visa Rules to Lure International Professionals


January 17th, 2025 at 06:10 am

Thailand Eases Long-Term Visa Rules to Lure International Professionals

Thailand has significantly revamped its long-term resident (LTR) visa program. The changes aim to make it more appealing to skilled workers, investors, and affluent foreigners. This initiative positions Thailand as a global hub for talent and investment while stimulating its post-pandemic economy.

Understanding the Long-Term Resident (LTR) Visa

The Long-Term Resident Visa is a unique program offering 10 years of residency in Thailand. It caters to wealthy individuals, skilled professionals, retirees, and investors. The visa provides various benefits, including tax incentives, digital work permits, and flexible options for dependents.

Key Changes to the LTR Visa Program

1. No Minimum Income Requirement

The new rules eliminate the minimum annual income requirement for the “Wealthy Global Citizens” category. Instead, the focus shifts to cumulative wealth and investment in Thailand. This change encourages more foreign investments.

2. Reduced Revenue Requirement for Companies

Foreign companies sponsoring visa applicants now need a corporate revenue threshold of $50 million over the past three years. This is a significant reduction from the previous requirement of $150 million.

3. Increased Flexibility for Dependents

LTR visa holders can now bring an unlimited number of dependents, including parents and other legal dependents. Previously, the program only allowed four dependents.

4. Expanded Eligibility for Skilled Professionals

The program now welcomes highly skilled professionals from additional sectors, such as disaster management and integrated innovation. This broadens the existing focus on science, technology, and other key industries.

5. Simplified Work Experience Requirements

The requirement for five years of relevant work experience has been removed. This change simplifies the application process, making it easier for top talent to apply.

6. Eligibility for Subsidiary Employees

Employees of subsidiaries of multinational corporations can now apply for the LTR visa. The parent company must demonstrate financial stability to qualify.

Benefits of Thailand’s LTR Visa

Launched in 2022, the Long-Term Resident Visa offers numerous advantages, including 10-year residency, digital work permits, and personal income tax benefits. More than 6,000 applicants, primarily Europeans, have already taken advantage of this program.

The LTR visa is designed to attract high-net-worth individuals, retirees, and skilled professionals. This strategy aims to strengthen Thailand’s economic growth and enhance its global competitiveness.

BOI’s Vision for an Inclusive Visa Program

The Board of Investment (BOI) emphasizes that these updates create a more inclusive and competitive visa program. “Smooth visa procedures are essential for ease of doing business,” stated Narit Therdsteerasukdi, BOI’s Secretary-General.

These changes align with Thailand’s strategic goal to attract foreign talent and investors by simplifying application processes and enhancing benefits.

Conclusion

With these updates, Thailand enhances its appeal as a prime destination for professionals and investors seeking long-term residency. The updated Long-Term Resident visa program increases accessibility and inclusivity.

This initiative attracts a new wave of global talent and investment, solidifying Thailand’s status as a top location for living and working in Southeast Asia.

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