Understand the Thai Long Term Visa (LTR) or Thailand 10-year visa. The Thai government has introduced the new “Long-Term Resident (LTR) Visa”. The new visa provides a range of tax benefits as well as non-tax benefits to make the country more attractive to different types of wealthy people. Thailand is trying to grow the country by allowing what they call “high-potential” foreigners to settle in the country. Building off the most important tourist destinations in Asia, Thailand has used different criteria for different types of foreigners. This is divided in different categories.
This is a 10 year renewable visa. The first granting will be for 5 years. This can then be extended for another 5 years if the qualifications can be met. Note that the requirements might change during this time for the Thai Long Term Visa. Some also call this the 10 year retirement visa Thailand.
There is also an exemption for the employment ratio when it comes to the 4 in 1 Thai requirements for the business. If you are part of a business to starting a company in Thailand then see the work permit requirements on this website. Thailand now also has a thriving cannabis business.
There are 5 types of Long Term Visas for Thailand. These have been added below:
Wealthy individuals holding at least USD 1 million in assets
Retirees aged 50 years and older who have an annual pension or stable income
Remote workers working for well-established overseas companies
Professionals or experts in designated industries* who are working for business entities. This can be either higher education institutes or research centers or specialized training institutions in Thailand. These can also cover Thai government agencies.
Also industries that are part of the circular economy directly and more over significantly. These can be waste to energy and well as resource management such as water resource management. Also any industry that is in accordance with the 20-year national strategic of Thailand.
You will need to register and submit your application online.
It takes up to 20 working days to be notified of the result of your application.
You will then have 60 days to apply at the Thai Embassy or immigration offices in Thailand for the LTR visa. Inside Thailand this is 50,000 Thai baht per person. Outside of the country this may differ.
The processing fee for the work permit is 3,000 Baht per year to maintain your digital work permit. Also the work permit may be collected at the Department of Employment at One Stop Service Center for Visa and Work Permit, Chamchuri Square Building, Bangkok or provincial labour offices.