LTR Long Term Visa Update
Lawyers for Expats Thailand
The LTR Visa (long term resident visa) but who is eligible?
Four categories of foreigners (“Eligible Foreigners”) who are known as wealthy global citizens (“WGC”), or wealthy pensioners (“WP”), and work-from-Thailand professionals (“WTP”), and highly-skilled professionals (“HSP”) and their spouses and children (“Dependents”) (up to 4) can apply for this visa.
The Ministry of Interior has approved for Some Categories of Foreigners to Reside in Thailand on a Special Case Basis under the Economic and Investment Stimulus Measures to Attract High Potential Foreigners to Thailand dated this was notified on 25th May 2022 (“MOI Notification”) it set out the key terms and conditions of the LTR Visa.
The requirements for the Eligible Foreigners are set out in Notification of the Board of Investment of Thailand (“BOI”) No. Por 2/2565 Re: Qualifications, Rules and Conditions for Special Visa under the Economic and Investment Stimulus Measures to Attract High Potential Foreigners to Thailand dated 30th June 2022 as amended (“BOI Notification”) as amended by the BOI Notification No. Por 6/2566 Re: Amendments to Qualifications, Rules and Conditions for Special Visa under the Economic and Investment Stimulus Measures to Attract High Potential Foreigners to Thailand dated 16th March 2023.
Requirements for HSP LTR Visa Applicant
1. Working for a Thai business entity or a foreign business entity with the assignment to work in Thailand, or working with a higher education institute, research center, or specialized training institution in Thailand, or a Thai government agency, in one of the following 15 targeted industries: (1) automotive, (2) electronics, (3) affluent tourism, (4) agriculture, food, and biotechnology, (5) transportation and logistics, (6) automation and robotics, (7) aviation, aerospace, and space, (8) biofuels and bio-chemical, (9) petrochemical and chemical, (10) digital, (11) medical, (12) national defense, (13) direct and significant supporting industries for the circular economy, (14) International Business Center (“IBC”), (15) other industries which require the special expertise of the applicant in one or more of the following fields:
a) research and development in the targeted industries or technologies, such as biotechnology, nanotechnology, advanced material technology, digital technology;
b) human resource development in science and technology at vocational or higher education levels;
c) application of artificial intelligence, automation, and robotics in business operations;
d) planning and development of digital systems to enhance business productivity and services;
e) financial or marketing analyst or advisory services;
f) environmental and energy management;
g) management or advisory of incubation programs, acceleration programs, innovation, and startup ecosystems;
h) alternative dispute resolution services; and
i) promotion and support of economic development, trade, and investment by foreign chambers of commerce and organizations promoting trade and investment from foreign countries;
2. Minimum personal income of USD80,000 per year in the past 2 years; if the minimum personal income is below USD80,000 but not less than USD40,000 per year in the past 2 years, the applicant must have a master’s degree or above in science and technology or have expertise in the field relevant to the applicant’s employment in Thailand (for a retired expert in science and technology, the income not less than USD40,000 per year for 2 years before the retirement may be allowed);
3. Minimum working experience of 5 years in the field relevant to the applicant’s current employment during the past 10 years (except for the applicant who holds a doctorate degree or equivalent, or works for a higher education institute, research center, or specialized training institution in Thailand, or a Thai government agency); and
4. Minimum health insurance coverage of USD50,000 for at least 10 months or a social security benefit covering medical treatment in Thailand, or a minimum cash deposit in Thailand or abroad of USD100,000 for at least 12 months.
Each applicant can register himself or herself and then file an application for a qualification endorsement letter (“QEL”) online or on site with the BOI or the Thai Embassy or the Thai Consulate abroad or any other place as specified by the BOI. The applicant will be notified of the result of the application for the QEL within 20 working days. The applicant who is granted the QEL must apply for the LTR Visa with the Thai Embassy or the Thai Consulate or the Immigration Office in Thailand within 60 days from the issuance date of the QEL and pay the application fee of THB50,000.
Benefits for HSP LTR Visa Holder
(1) 10-year visa with multiple entries (5 years plus one extension of 5 years);
(2) Fast-track service at international airports in Thailand;
(3) Annual immigration report in place of the 90-day report;
(4) Digital work permit (to be issued by the OSS in Bangkok or a Provincial Labor Office);
(5) Exemption from the Thai-foreigner employment ratio of 4:1;
(6) Personal income tax at 17% on income from a Thai business entity in the targeted industries;
(7) Right to change the LTR Visa to another type of visa subject to the rules and regulations of the Thai Immigration Bureau; and
(8) Maximum 4 Dependents can apply for the LTR Visa and the digital work permit.
Will this attract foreign investors and highly skilled individuals to Thailand?
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