Thailand Announced New 10-Year Long-Term Resident Visa For Foreigners

Thailand, officially the Kingdom of Thailand, a Southeast Asian country located at the centre of Mainland Southeast Asia recently announced the launch of a new 10-year long-term resident visa for foreigners.

The country has also begun accepting applications for new ‘Long-Term Resident (LTR)’ visas beginning September 1, 2022.

Thailand Long-Term Resident (LTR) Visa

Thailand’s new “Long-Term Resident (LTR)” visa provides holders with numerous benefits, including a 10-year visa (extendable), fast-track airport service, multiple re-entries permit, and the ability to work in the Kingdom of Thailand.

Benefits

• 10* years renewable visa Permission will be granted to stay in Thailand for the first time for five years which can be extended for 5 more years if qualifications are met.
• Exemption from 4 Thais to 1 foreigner employment requirement ratio.
• Fast Track Service at International Airports in Thailand.
• 90-day report extended to 1-year report and exemption of re-entry permit.
• Multiple re-entry permits.
• Permission to work in Thailand (Digital Work permit).
• 17% Personal income tax for Highly skilled professionals.
• Tax exemption for overseas income.
• Immigration and work permit facilitation services at One Stop Service Center for Visa and Work Permit.

Eligibility

According to the official website, Thailand’s new Long-Term Resident visas will be available to four types of foreign nationals including Wealthy Global Citizens, Wealthy Pensioners, Work-from-Thailand Professionals, and Highly Skilled Professionals. Spouses and dependents of LTR visa holders will also be eligible.

• Wealthy global citizens with total assets of at least US$1 million and personal income of at least US$80,000 per year in the previous two years who invest in Thailand for at least US$500,000.
• Foreign retirees (wealthy pensioners) – have an annual personal income of at least US$80,000.
• Work-from-Thailand professionals must have a personal income of at least US$80,000 per year in the previous two years, five years of work experience, and work for a legally registered company with a revenue of at least US$150 million in the previous three years.
• Highly skilled professionals – with a personal income of at least US$80,000 per year, expertise in the target industry, and at least five years of experience.

Spouses and children under 20 years of age of an LTR visa holder also qualify (up to four dependents per visa holder). However, they…

• Must be the legal dependents (spouse and children). (Same-sex marriage or partnerships are not yet currently recognized by the law of Thailand.)
• Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 25,000 deposit

Application Process

1. Application Submission: Register on https://visa.boi.go.th/register and submit online an application for qualification endorsement for LTR Visa and supporting documents.
2. Qualifications Endorsement: Applicants will be notified of the result within 20 working days after receiving complete documents.
3. Visa Issuance: Within 60 days of the issuance date of the endorsement letter, qualified applicants may apply for LTR Visa issuance at Royal Thai Embassies/Royal Thai Consulate Generals overseas or Immigration offices in Thailand.
4. Digital Work Permit Issuance: Applicants who work in Thailand, may collect digital work permits at the Department of Employment at One Stop Service Center for Visa and Work Permit, Chamchuri Square Building, Bangkok or provincial labour offices.

Processing Fees

If you collect your LTR visa in Thailand, the processing fee for a 10-year visa with multiple entries is 50,000 Baht per person.

Fees for collecting LTR Visas at Royal Thai Embassies/Royal Thai Consulate Generals abroad or for obtaining an E-visa may vary depending on the currency exchange rate of each country.

The annual processing fee for maintaining a digital work permit is 3,000 Baht.