Long Awaited – Thai Cabinet Eases Conditions for LTR Visas Thailand
Thailand has only been able to issue 6,000 long-term resident (LTR) visas since their introduction in September 2022 – but that is set to change soon. On January 15, the Thai cabinet approved changes to the criteria for this visa in order to attract a larger number of foreign experts, investors and the “wealthy” to Thailand. This should expand the pool or foreign talents and strengthen Thailand's future competitiveness. The criteria for this ten-year visa, which includes a work permit, income tax privileges and other benefits, will soon be as follows:
LEGAL
2/14/20251 min read
“Highly Skilled Professionals”
This category is being expanded for the areas of development and sustainability, disaster- and risk management, as well as integrated innovation. The requirement for five years of experience in the relevant fields has been waived.
“Work-from-Thailand”
For this activity, the employer's minimum revenue requirement has been reduced from USD 150 million to USD 50 million over the last three years. Also, wholly-owned subsidiaries of large multinational companies are now considered a single entity and need not generate USD 50 million independently of the parent company.
“Wealthy Global Citizens”
“Wealthy Global Citizens” will no longer have to prove an annual minimum income for the LTR visa. Instead, the focus is on cumulative assets and investments in Thailand. These assets must be over one million US dollars, half of which, or 500,000 US dollars, must be invested in Thai government bonds, personal company shares or real estate (permitted for foreigners).
“Wealthy Pensioner”
“Wealthy Pensioners“ are not affected by the reform. The conditions remain unchanged.
”Spouses and dependents"
The number of dependents permitted in the main applicant's visa in the four LTR categories will no longer be limited. In addition, parents and legally dependent persons, children under 20 and spouses can also be included in the visa.
The advantages of the LTR visa remain otherwise unchanged.
High-skilled professionals continue to pay a maximum of 17% income tax. LTR visa holders are also explicitly exempt from taxation on foreign income that is imported into Thailand.
Our conclusion:
The LTR visa continues to offer several advantages. The adjustments made by the reform sound promising and could expand the pool of potential applicants. However, the visa remains restricted to particularly qualified or wealthy foreigners.
Applicants who have been unsuccessful in previous years due to the now-removed restrictions may reapply for the LTR visa.
In addition to comprehensive management consulting, the Sanet Group also offers support in legal matters, such as applying for the appropriate visa. We will be happy to advise you on whether it makes sense for you to apply for the LTR visa in a free initial consultation.
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