The Cabinet approved updates to Thailand’s Long-Term Resident Visa program to attract skilled professionals, global citizens, retirees, and remote workers with tax incentives, simplified procedures, extended visa durations. Key changes include broader eligibility criteria, reduced corporate revenue requirement for Work-from-Thailand Professionals, expanded dependents’ rights, and focus on investments for Wealthy Global Citizens. The aim is to enhance the country’s foreign talent pool and competitiveness.
Updates to Long-Term Resident (LTR) Visa Program
The Thailand Board of Investment (BOI) has announced that the Cabinet recently approved updates to the Long-Term Resident (LTR) Visa program. The purpose of the updated program is to attract highly skilled professionals, wealthy global citizens, retirees, and remote workers by offering a variety of benefits, such as tax incentives, simplified immigration processes, and longer visa durations.
The key takeaways from the updated LTR Visa program include broader eligibility criteria, reduced corporate revenue requirements for certain categories, expanded rights for dependents, and a shift in focus for the Wealthy Global Citizens category towards investments in Thailand rather than income.
Approved Changes to LTR Visa Program
One significant change implemented in the program is the expansion of the list of target sectors for the Highly Skilled Professionals category, now including non-STEM fields such as Development and Sustainability, Disaster and Risk Management, and Integrated Innovation. Additionally, the requirement of a minimum of five years of work experience has been eliminated for applicants in this category.
Furthermore, the corporate revenue requirement for Work-from-Thailand Professionals has been lowered, and employees of multinational corporations now qualify. The minimum annual income requirement for Wealthy Global Citizens has also been removed, emphasizing cumulative wealth and investments in Thailand.
Enhancing Foreign Talent Access
Overall, the changes to the LTR Visa program aim to facilitate access to a wider range of experts, investors, and executives to enhance Thailand’s foreign talent pool and competitiveness. By removing redundant requirements, streamlining applications, and expanding rights for dependents, Thailand seeks to create a more welcoming environment for individuals and families looking to reside in the country.
Source : Thailand Introduces Relaxations to Long-Term Resident (LTR) Visa Program