Good NEWS !!! Thailand has recently announced the adjustment of the LTR (Long-Term Resident)

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เวลาสร้าง 20 กันยายน 2565 22:38

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Thailand has recently announced the adjustment of the LTR (Long-Term Resident) visa requirement, halving the application fee to 50,000 Baht.

LTR visa is a 10-year long visa designed to attract high potential foreigners who would like to relocate to Thailand long-term.

This is believed to help boost economic development and stimulate overseas investment in the country, particularly in this post-pandemic phase.

Through this special visa, the government hopes to bring in 1 million eligible foreigners over the next five years.

The eligible groups mentioned have different requirements for the LTR visa application.

1. For High-income Foreign Individuals and Foreign Retirees:

Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application,

OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

High earners must have proof of personal income of at least USD 80,000 annually during the period of 2 years prior to the application date

Must have at least 1 million USD in assets

Must have an investment of at least USD 500,000 in Thai government bonds, foreign direct investment or Thai property

2. For High-income Foreign Retirees:
Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application,

OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

High earners must have proof of personal income of at least USD 80,000 annually at the time of application

In case of having personal income only between USD 40,000 to USD 80,000/ year, the applicant must invest at least USD 250,000 in Thai government bonds, foreign direct invest or Thai property

3. For Foreign Working Professionals:
Must produce an employment contract or service agreement entered with business in Thailand or abroad

Foreign specialists must show proof of work experience in one of the targeted industries for a minimum of 5 years performed within 10 years of the application date.

The current employer must be a public company on stock exchange or private company in operation for at least 3 years with combined revenue of at least USD 150 million in the last 3 years

Personal income of a minimum of 80,000 USD/year in the past 2 years
In case of having personal income only between USD 40,000 to USD 80,000/ year in the part 2 years,

the applicant must have a Master’s degree or above or own intellectual property or receive Series A funding of no less than USD 1 million.

Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application,

OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

4.For Foreign Foreign Experts:
Must produce an employment contract or service agreement entered with business in Thailand or abroad

Foreign specialists must show proof of work experience in one of the targeted industries for a minimum of 5 years except for applicants with a PhD or above in relevant fields

Personal income of a minimum of 80,000 USD/year in the past 2 years

In case of having personal income only between USD 40,000 to USD 80,000/ year in the past 2 years or before retirement, the applicant must have a Master’s degree or above in science and technology or special expertise relevant to the job assignment in Thailand

No minimum income requirement for foreign workers who intend to conduct work in government higher educational institutions, research centers, specialized training centers, or government agencies.

Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application,

OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

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