Thailand's Long Term Resident (LTR) Visa

The Long-Term Resident (LTR) Visa in Thailand is a special visa program designed to attract high-potential foreign individuals to live and work in the country. The program offers a range of benefits, both tax-related and non-tax-related, to make Thailand an appealing destination for those looking to live, work remotely, or invest in the region. The Thai government aims to draw in wealthy individuals, skilled professionals, and multinational corporations to boost domestic spending, investment, and overall economic growth.

 

Key points about the LTR Visa include:
1. Target Audience: The visa is aimed at wealthy individuals, highly skilled professionals, retirees, and people who can contribute to Thailand’s economy through investment, technology, or talent.

2. Duration: The LTR Visa is designed for long-term residency, making it ideal for those who plan to stay in Thailand for an extended period.

3. Benefits:

• Tax Benefits: Reduced personal income tax rates and other tax incentives to make Thailand more competitive with other regional hubs.
• Non-Tax Benefits: Easier visa renewals, work permits, and possibly other benefits like simplified processes for bringing in family members.

The LTR Visa is part of Thailand’s efforts to modernize its visa offerings and attract a new wave of residents who can contribute to the country’s economic development.

 

Benefits and key points:
1. 10-Year Renewable Visa:

• The LTR Visa is initially granted for a period of 5 years. If the qualifications continue to be met, it can be extended for an additional 5 years, totaling 10 years.

2. Exemption from Employment Ratio Requirement:

• LTR Visa holders are exempt from the usual requirement that a Thai company must employ four Thai nationals for every foreign employee.

3. Fast Track Service at International Airports:

• LTR Visa holders are eligible for fast-track immigration services at international airports in Thailand, which can significantly speed up the process of entering or exiting the country.

4. 90-Day Reporting Extended to 1-Year:

• o LTR Visa holders are only required to report to immigration once a year instead of every 90 days, making it more convenient to stay long-term.

5. Multiple Re-Entry Permit:

• The visa allows for multiple entries and exits from Thailand without the need to apply for a re-entry permit each time.

6. Permission to Work in Thailand (Digital Work Permit):

• LTR Visa holders are granted the right to work in Thailand, and they will receive a digital work permit.

7. 17% Personal Income Tax for Highly-Skilled Professionals:

• Highly skilled professionals who hold an LTR Visa are eligible for a reduced personal income tax rate of 17%.

8. Tax Exemption for Overseas Income:

• o LTR Visa holders are exempt from paying taxes on income earned overseas.

9. One Stop Service Center for Visa and Work Permit:

• LTR Visa holders can access immigration and work permit services through a streamlined process at the One Stop Service Center, making administrative tasks easier and faster.

 

There are 4 types of LTR visas and the general conditions required for each:
1. Wealthy Global Citizens

• Targeted Individuals: High-net-worth individuals with significant assets or investments.
• Key Requirements:
  - Minimum investment in Thailand (specific amount depends on the regulations).
  - Maintenance of investment throughout the visa period.
  - Proof of a stable financial status and assets.

2. Wealthy Pensioners

• Targeted Individuals: Retirees who have a stable income from pensions or investments.
• Key Requirements:
  - A minimum monthly pension or retirement income.
  - Proof of sufficient financial resources to cover living expenses in Thailand.
  - Ongoing proof of income or assets during the visa duration.

3. Work-from-Thailand Professionals

• Targeted Individuals: Remote workers or professionals employed by overseas companies who want to live and work in Thailand.
• Key Requirements:
  - Proof of employment with a foreign company.
  - Minimum income or salary threshold.
  - Ongoing employment and income verification.

4. Highly-Skilled Professionals

• Targeted Individuals: Experts or specialists in fields that are in demand in Thailand.
• Key Requirements:
  - Employment with a company or organization in Thailand.
  - Minimum income or salary threshold.
  - Continued employment in the specific field.

Spouses and Dependents

• Eligibility: Spouses and children of LTR visa holders or applicants.
• Key Requirements:
  - Proof of relationship to the primary visa holder (marriage or birth certificates).
  - Ongoing support from the primary visa holder during the visa period.

Note on Compliance

• All applicants and visa holders must maintain the required conditions, such as investment amounts, employment status, bank account balances, and insurance coverage, throughout the visa’s validity.

If you would you like more detailed information on any specific LTR visa type or how to apply

please contact us at TVS!!