Long Term Residence Visa

As of 1 September 2022, foreigners may apply for a new visa in Thailand, the Long Term Residence Visa, provided they comply with certain requirements.

Applicants have to fall under one of the following categories:

Wealthy Global Citizens

At least USD 1 million in assets;
Personal income of not less than USD 80,000 in the last two years;
Investment of at least USD 500,000 in Thai government bonds, foreign direct investment or Thai property (for example condominiums);
Health insurance with a coverage of at least USD 50,000 or a deposit of USD 100,000 in Thailand to cover health expenses.

Wealthy Pensioners

50 years of age;
Personal income of not less than USD 80,000 in the year of application or personal income of not less than USD 40,000 a year plus an investment in Thai government bonds, foreign direct investment or Thai property of USD 250,000;
Health insurance with a coverage of at least USD 50,000 or a deposit of USD 100,000 in Thailand to cover health expenses.

Work-From-Thailand Professionals

Employer abroad is either

Publicly listed and traded company or
A well established private company having at least revenue of USD 150 million over the last three years

Applicant receives a personal income of

At least USD 80,000 or
At least USD 40,000 plus the applicant holds a Master’s degree or above (or owns intellectual property)
Applicant has at least 5 years of experience in his field of work during the past 10 years
Health insurance with a coverage of at least USD 50,000 or a deposit of USD 100,000 in Thailand to cover health expenses

Please note that the Thai Board of Investment explained that:

Work-From-Thailand professionals will not receive a work permit in Thailand
Work-From-Thailand professionals will not be required to pay into Thai social security

Also, according to the Thai Board of Investment, Work-From-Thailand professionals will be exempted from Personal Income Tax in Thailand. Any foreigner under Wealthy Global Citizens, Wealthy Pensioners and Work-From-Thailand Professionals will be exempted from personal income tax on income from overseas sources. Thus, any income which is arising from their works or business abroad or their assets abroad will not be subject to personal income tax in Thailand, even though they bring the said income into Thailand in accordance with Section 5 of Royal Decree No. 743.

However, we were not able to confirm the tax exemption with the Thai Revenue Department yet. Thus, applicants should be aware that under the existing tax laws of Thailand, persons residing in Thailand should be subject to personal income tax on remuneration received from employment rendered in Thailand, even if the work is rendered for an abroad employer.

Highly-skilled professionals

Business in a targeted industry as prescribed by the Thai Board of Investment
Work for a higher education institute, research institute, specialized training institution or Thai government agency

Applicant receives a personal income of

At least USD 80,000 or
At least USD 40,000 plus the applicant holds a Master’s degree or above in science or technology or has special knowledge relevant to the job assignment in Thailand (the personal income requirement does not apply to highly-skilled professionals working for Thai government agencies)

Applicant fulfills further requirements

5 years of work experience or holding a PhD in relevant fields or working for Thai government agencies
Health insurance with a coverage of at least USD 50,000 or a deposit of USD 100,000 in Thailand to cover health expenses

Please note: Highly-skilled professionals will receive a work permit in Thailand. They will be subject to a reduced tax rate at flat-tax of 17 percent of their remuneration from employment.

Application:

The applicant has to file an application and supporting documents online with the Thai Board of Investment. The documents will be reviewed within 90 days.

If approved, the applicant can collect the LTR visa either in Thailand or abroad. In case of highly-skilled professionals, a digital work permit can be applied for with the One Stop Service Center at Chamchuri Square in Bangkok.

The application fee for a 10 year visa is THB 50,000. Work permit applications are subject to a government fee of THB 3,000.