To further boost the country’s economic growth, the Thailand Board of Investment (BOI) has introduced more flexible criteria for the Long-Term Resident (LTR) visa. Initially designed to attract high-net-worth individuals and skilled professionals, the updated guidelines aim to make the visa more accessible to a broader range of applicants interested in making Thailand their home.
Below are the key updates to the LTR Visa criteria:
1. No Work Experience Requirement for Specialists
Previously, applicants in the Highly-Skilled Professionals & Work-From-Thailand Professional categories were required to have at least 5 years of work experience in BOI’s targeted industries. This requirement has now been waived, making the visa more accessible to qualified professionals in the targeted industries.
2. Lowered Employer Revenue Thresholds
The threshold for companies employing applicants in the Work-From-Thailand Professionals category has been reduced from USD 150 million to USD 50 million in revenue over the last three years. This change makes it easier for employees of these companies to qualify for the LTR visa.
3. No Minimum Income Requirement
The previously required annual income of USD 80,000 for Wealthy Global Citizens has been removed. Applicants now only need to meet asset requirements set by BOI to be eligible for the LTR Visa.
4. Expanded Dependent List
Under the previous guidelines, the LTR visa allowed a maximum of four dependents: spouses and up to three children under the age of 20. The new changes extend the dependent list to include parents and an unlimited number of children, making it easier for families to relocate together.
Benefits of the LTR Visa
The LTR visa offers long-term residency with a variety of benefits for individuals and their families, including a 10-year visa with unlimited re-entry, a personal income tax rate capped at 17% for Highly-Skilled Professionals, tax exemptions for overseas income for other LTR visa categories, fast-track immigration at airports, an extension of ‘90-day report’ requirement to 1 year, and the ability to work or study in Thailand.
Thai Relo Services is BOI’s Certified Agency (CA) for the LTR Visa
As a BOI-certified agency, Thai Relo Services is here to assist you throughout the application process, ensuring that your journey to long-term residency in Thailand is as smooth and efficient as possible.
Not sure if you qualify for the LTR Visa?
Reach out to our team of experts for a free consultation!
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