Thailand’s new Long-Term Resident (LTR) Visa is a significant initiative by the Thai government aimed at attracting high-potential foreigners to relocate to Thailand for extended periods. This visa, which has a duration of up to 10 years (divided into two terms of five years each), is specifically designed to boost the country’s economic development and stimulate overseas investment, especially in the post-pandemic phase.

The LTR visa targets four main groups: high-income foreign individuals, foreign retirees, foreigners intending to work remotely from Thailand, and foreign professionals with special skills. Applicants for the visa are allowed to bring up to four family members, including their legal spouse and children under the age of 20.

The Thai government has halved the application fee to 50,000 Baht to make the visa more accessible, a significant reduction from the previous fee of 100,000 Baht. This reduction aims to attract more qualified immigrants who might have been hesitant due to the cost.

Eligibility criteria vary for different groups but generally include requirements such as health insurance coverage, proof of personal income, and certain levels of investment in Thai government bonds, foreign direct investment, or Thai property. For example, high-income individuals and retirees need to show proof of a certain level of income or assets, while working professionals and specialists are required to meet criteria related to their employment and income levels.

The LTR visa also facilitates work permit applications, allowing holders to start working immediately without waiting for permit issuance. However, the visa comes with specific conditions, such as annual reporting of residence status and compliance with the regulations of the Thai Board of Investment. Non-adherence to these regulations can lead to visa cancellation.

This new visa scheme reflects Thailand’s commitment to inviting skilled and affluent individuals to contribute to its growth and development, and it is expected to be popular among those seeking to enjoy the benefits of living in Thailand long-term.

The Thai Long-Term Resident (LTR) Visa offers a unique opportunity for various groups of foreigners to reside in Thailand for up to 10 years. This initiative is aimed at attracting skilled professionals, retirees, remote workers, and high-income individuals, contributing significantly to Thailand’s economic and social landscape. The revised application fee and relaxed criteria are expected to draw more applicants. Those interested in the Thai LTR Visa can look forward to a simplified process and an opportunity to enjoy the many benefits of living in Thailand long-term. For detailed information and application procedures, it is advisable to refer directly to the official resources provided by the Thai government and embassies.

TFL can assist you in getting the new LTR visa in Thailand. Contact us at info@thailandfamilylaw.com for more details.