LTR Visa Thailand. The Long-Term Resident (LTR) Visa is a strategic initiative by the Thai government to attract high-potential foreigners who can contribute to Thailand’s economic growth. Launched in 2022, the LTR Visa offers a 10-year residency with various tax and non-tax benefits, aiming to position Thailand as a regional hub for living and doing business.
II. Legal Framework
A. Governing Authorities
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Thailand Board of Investment (BOI): Responsible for the initial screening and endorsement of LTR Visa applications
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Immigration Bureau: Handles the issuance of the visa after BOI endorsement.
B. Relevant Laws and Regulations
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Immigration Act B.E. 2522 (1979): Provides the legal basis for immigration and visa issuance in Thailand.
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BOI Regulations: Specific criteria and procedures for the LTR Visa program.
III. Eligibility Criteria
The LTR Visa is available to applicants under the following categories:
1. Wealthy Global Citizens
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Investment: Minimum investment of USD 500,000 in Thai government bonds, foreign direct investment, or Thai property.
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Income: Minimum personal income of USD 80,000 per year.
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Assets: Minimum assets of USD 1 million.
2. Wealthy Pensioners
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Age: 50 years or older.
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Income: Minimum personal income of USD 80,000 per year.
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Alternative: If income is between USD 40,000 and USD 80,000 per year, the applicant must invest at least USD 250,000 in Thai government bonds, foreign direct investment, or Thai property.
3. Work-From-Thailand Professionals
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Employment: Employed by a well-established company abroad with a minimum revenue of USD 150 million over the past three years.
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Income: Minimum personal income of USD 80,000 per year.
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Experience: At least five years of work experience in the relevant field.
4. Highly Skilled Professionals
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Employment: Working in targeted industries in Thailand, such as digital, healthcare, or renewable energy.
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Income: Minimum personal income of USD 80,000 per year.
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Experience: At least five years of work experience in the relevant field.
5. Dependents
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Eligibility: Spouse and children (under 20 years old) of the main LTR Visa holder.
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Limit: Up to four dependents per main applicant.
IV. Application Process
Step 1: Online Application
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Submit the application through the official LTR Visa portal managed by the BOI.
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Provide necessary documents, including proof of income, investment, employment, and health insurance.
Step 2: BOI Endorsement
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The BOI reviews the application and supporting documents.
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If approved, an endorsement letter is issued.
Step 3: Visa Issuance
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Apply for the LTR Visa at a Royal Thai Embassy, Consulate, or the One Stop Service Center in Bangkok within 60 days of receiving the endorsement letter.
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Pay the visa fee of THB 50,000 per person.
Step 4: Work Permit Application (if applicable)
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LTR Visa holders intending to work in Thailand must apply for a digital work permit through the LTR Visa application system.
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The process takes approximately 3-5 working days.
V. Benefits of the LTR Visa
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Extended Residency: 10-year renewable visa with multiple entries.
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Simplified Immigration: Annual reporting instead of every 90 days.
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Work Authorization: Eligibility to apply for a digital work permit.
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Tax Incentives:
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17% personal income tax rate for highly skilled professionals.
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Exemption from foreign income tax for remote workers.
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Family Inclusion: Ability to bring up to four dependents
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Expedited Services: Fast-track immigration processing at international airports.
VI. Practical Considerations
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Health Insurance: Applicants must have health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand.
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Financial Documentation: Accurate and verifiable financial records are essential for the application.
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Legal Compliance: LTR Visa holders must comply with Thai laws and regulations, including tax obligations and reporting requirements.
VII. Conclusion
The LTR Visa offers a comprehensive solution for foreigners seeking long-term residency in Thailand, combining extended stay privileges with work authorization and tax benefits. By understanding the eligibility criteria and application process, qualified individuals can take advantage of this opportunity to live and work in Thailand.
