Thailand officially, also known as called the Kingdom of Thailand, a Southeast Asian country located in the middle of Mainland Southeast Asia, recently announced the introduction of a brand new 10-year long-term residence visa for foreigners.
The country is also accepting applications for the new ‘Long-Term Resident’ (LTR) visas from September 1, 2022.
Thailand Long-Term Resident (LTR) Visa
New Thailand’s “Long-Term Resident (LTR)” visa comes with a myriad of advantages, including a 10-year visa (extendable) and fast-track services at airports, multiple re-entry permits, as well as the possibility to work within The Kingdom of Thailand.
Benefits
- A 10-year renewable visa permit is granted to remain for 10 years in Thailand, initially for 5 years. The visa can be extended by 5 years If the qualifications are fulfilled.
- The exemption is from the 4. Thai for 1 Foreigner ratio.
- Fast Track Service at International Airports in Thailand.
- 90-day report extended for one year and exemption from the re-entry permit.
- Multiple Re-entry Permits.
- Working Permission within Thailand (Digital Permit to Work).
- 17% Personal Income Tax for highly skilled professionals.
- Tax exemptions for income from overseas.
- Facilitation of work permits and immigration services available at One Stop Service Center for Visa and Work Permits.
Eligibility
As per the website’s official site, Thailand’s brand-new Long-Term Resident visas are available to four foreign citizens, including wealthy global citizens, wealthy pensioners, Professionals working from Thailand, and Highly skilled professionals. Spouses and children of LTR visa holders are also eligible.
- Wealthy citizens with assets totaling at least US$1 million and earnings of a minimum of US$80,000 annually within the past two years investing in Thailand for at least US$500,000.
- Foreign retirement (wealthy pensioners)Â – have an annual income of not less than US$80,000.
- Work-from-home professionals require a personal income of at least US$80,000 annually during the past two years and five years of experience in the field. They are employed by an authorized company with a revenue of at least US$150 million over the past three years.
- Highly-skilled professionals with professional earnings of at least US$80,000 annually, experience in the industry of choice, and at least five years of experience.
For parents and children younger than 20 years old, the LTR visa holder can also be eligible (up of four relatives for each visa holder). However, they…
- They must be legal spouses and children (spouse or children). (Same-sex unions or partnerships aren’t currently legally recognized by the law of Thailand.)
- Health insurance that has at least USD 50,000 of coverage as well as social security that covers treatments in Thailand or at least USD 25,000 in a deposit
Application Process
- Application Submission: Register on https://visa.boi.go.th/register and submit an application for qualification endorsement for LTR Visa and supporting documents online.
- Qualifications: Endorsement, The applicants will be informed of the decision within 20 days of receiving the complete documentation.
- Visa Issue:Â within 60 days of the date on the endorsed document, candidates who meet the requirements can submit an application to apply for LTR Visa issuance at Royal Thai Embassy/Royal Thai Consulate Generals abroad or the immigration office in Thailand.
- Digital Work Permit Issue:Â Applicants in Thailand can obtain digital work permits from 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 can collect an LTR visa from Thailand, the processing cost for 10-year access with multiple entries is 500.000 Baht per individual.
The fees for collecting LTR Visas in Royal Thai Embassy/Royal Thai Consulate Generals overseas or for applying for an E-visa could vary based on the exchange rate for a currency for each country.
The fee for processing and keeping an electronic work permit is 3000 Baht.
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