Guide to Thailand's long-term resident ( LTR ) visa Effective from 1 Sep 2022

Thailand is introducing a new visa called "Long-Term Resident (LTR Visa)" which is a program that provides a range of tax and non-tax benefits to enhance the country's attractiveness as a regional hub for living and doing business for 'high-potential' foreigners. Thailand’s cabinet has decided to halve the long-term resident (LTR) visa fee, bringing it down to 50,000 baht!
The visa will be offered to four categories of foreigners and their dependents. Here's a list of who qualifies for this visa, and the application processes you can follow.
The visa will apply to four categories of foreigners:

1. Wealthy global citizens: Individuals holding at least USD 1 million in assets.
2. Wealthy pensioners: Retirees aged 50 years and older who have an annual pension or stable income.
3. Work-from-Thailand professionals: Remote workers working for well-established overseas companies.
4. Highly-skilled professionals: Professionals or experts in targeted industries, working for business entities, higher education institutes, research centres, or specialised training institutions in Thailand or Thai government agencies.

What privileges will be offered to LTR visa holders?

There will be many privileges for LTR visa holders that will make living in Thailand long term easier and less bureaucratic. These privileges include: discounted personal income tax rate, the removal of the requirement for employers to hire four Thai citizens per foreigner, fast track at international airports, 1 year reporting to Immigration instead of 90 days, and the overall ease of regulations concerning foreign residents. The LTR Visa program makes the process of hiring foreigners easier and the foreign experts hired will strengthen the private business sector of Thailand.

• 10* years renewable visa
• Exemption from 4 Thais to 1 foreigner employment requirement ratio
• 90-day report extended to 1-year report and exemption of re-entry permit
• Permission to work in Thailand (Digital Work permit)
• 17% Personal income tax for High-skilled professionals
• Immigration and work permit facilitation services

How to apply

1. Register and submit an online application for qualification endorsement for LTR visa and supporting documents.
2. Within 20 working days after the completed documents are received, applicants will be notified of the results.
3. Qualified applicants may then proceed with applying for LTR visa issuance at the Royal Thai Embassies/the Royal Thai Consulate-General overseas, or immigration offices in Thailand, within 60 days from the issuance date of the endorsement letter. The processing fee for the 10-year-visa with multiple entries is THB50,000 per person, down from the previous THB100,000.
4. Applicants who work in Thailand may collect digital work permits at the Department of Employment at the One Stop Service Centre for Visa and Work Permit, Chamchuri Square Building, Bangkok, or provincial labor offices. The processing fee is THB3,000 per year to maintain a digital work permit.

If you have any questions related to relocating to Thailand or related matters, please get in touch with us! We can help with LTR Visa Applications, contact us on LINE @Acuterealty or www.acuterealty.com

8/9/2022 2:05:40 PM