Bangkok – Thailand has introduced significant updates to its Long-Term Resident (LTR) visa program in an effort to attract skilled professionals, affluent foreigners, and investors from around the world.
The changes aim to position Thailand as a global hub for talent and investment while supporting the country’s post-pandemic economic recovery.
The revamped LTR visa program offers 10-year residency, tax incentives, digital work permits, and greater flexibility for dependents. Initially launched in 2022, the program has been revised to increase its appeal to a broader range of applicants.
Key Changes to the LTR Visa Program
One of the most notable updates is the removal of the minimum income requirement for applicants under the “Wealthy Global Citizens” category. Previously, applicants had to meet a specific income threshold, but the new rules now focus on an applicant’s overall wealth and investments in Thailand. This change is expected to make it easier for wealthy individuals to qualify for the visa.
Additionally, the revenue requirement for foreign companies sponsoring visa applicants has been significantly reduced. Companies must now demonstrate $50 million in revenue over the past three years, down from the previous $150 million. This adjustment is intended to encourage more businesses to participate in the program.
Greater Flexibility for Dependents
Under the updated program, LTR visa holders can bring an unlimited number of dependents, including parents and other legal dependents. This marks a shift from the previous limit of four dependents, providing families greater flexibility when relocating to Thailand.
Expanded Eligibility for Skilled Professionals
The revised program broadens eligibility criteria for skilled professionals. While it previously targeted sectors such as science and technology, it now welcomes professionals from additional fields, including disaster and risk management, as well as integrated innovation. This expansion reflects Thailand’s efforts to attract a more diverse range of expertise to support its growing industries.
To further streamline the application process, the program has also removed the five-year work experience requirement for skilled professionals. This change opens the door for top talent from various industries to apply without needing to meet strict experience criteria.
Inclusion of Multinational Corporation Employees
Employees of subsidiaries of multinational corporations can now qualify for the LTR visa, provided the parent company meets financial stability requirements. This move is expected to attract a wider pool of international workers, particularly those employed by large global firms.
Program Benefits and Impact
Since its launch, the LTR visa program has attracted over 6,000 applicants, with Europeans accounting for the largest share. The visa offers numerous advantages, including a 10-year residency, tax benefits, digital work permits, and the ability to bring family members. By drawing in skilled workers, retirees, and high-net-worth individuals, the program aims to boost Thailand’s economy.
The Secretary-General of the Board of Investment (BOI), Narit Therdsteerasukdi, emphasized the importance of simplifying visa procedures. “Smooth visa procedures are an essential part of our focus on the ease of doing business,” he said.
The updates to the LTR visa program reflect Thailand’s broader strategy to create a competitive and inclusive environment for global talent and investors. By simplifying eligibility requirements and expanding the program’s reach, Thailand continues to strengthen its position as a leading destination for living and working in Southeast Asia.
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