Introducing Thailand’s Long-Term Resident (LTR) Visa
The Long Term Resident Visa (“LTR Visa”) is a new type of long-term visa, designed for high-potential foreign nationals who wish to reside in Thailand for an extended period. It aims to stimulate investment and economic development within the country. This LTR Visa allows holders to live and work in Thailand for up to 10 years and offers numerous benefits.
Types of LTR Visas:
The LTR Visa caters to various segments of potential residents, classified into 4 main categories:
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Types |
Key Qualifications |
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1. Wealthy Global Citizens |
Wealth Status & Investments: – Minimum of USD 1 million in assets and investment in Thailand. Health Insurances: – Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit. |
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2. Wealthy Pensioners |
– For Retirees (50 years old and older). Wealth Status & Investment: – Personal income of at least USD 80,000 per year at the time of application. Health Insurance: – Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit. |
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3. Work-From-Thailand Professionals |
– Remote workers working for well-established companies overseas. Persanol Income: – Personal income of a minimum of USD 80,000 per year in the two years. Current Employer: – Public company on a stock exchange or; Private company in operation for at least three years with combined revenue at least USD 150 million in the last three years. Experience: – At least 5 years of work experience in the relevant fields of the current employment over the past 10 years. Health Insurance: – Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit. |
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4. Highly skilled professionals |
– Professionals or experts in targeted industries working for business entities or higher education institutes or research centers or specialized training institutions in Thailand or Thai government agencies Persanol Income: – Personal income of a minimum of USD 80,000 per year in the two years * No minimum personal income for professionals working for Thai government authorities.
Current Employer: – Business or higher education institution, reserch institution, specialized training institution, or Thai government authorities in any targeted industries Experience: – At least 5 years of work experience in targeted industries except for applicants with PhD or above in the relevant fields of the targeted industries or applicants working for Thai government authorities. Health Insurance: – Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit. |
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Spouse and dependants |
– Must be legal dependents of the applicant (spouses and children under 20 years of age) Health Insurance: – Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 25,000 deposit per person in Thai or foreign account for a period of at least 12 months.
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Key Privileges of the LTR Visa:
The Long-Term Resident Visa in Thailand is accompanied by a range of significant benefits, as follows:
- 10-years renewable visa
- Exemption from 4 Thais to 1 foreigner employment requirement ratio
- Fast track service at international airports in Thailand
- 90-day report to the immigration Bureau extended to 1-year
- Multiple re-entry permit
- Permission to work in Thailand (Digital Work Permit)
- 17% personal income tax for the highly-skilled professionals
- Tax exemption for overseas income
- Immigration and work permit facilitation services at One Stop Service Center for Visa and Work Permit
The LTR Visa offers an exciting opportunity for those who satisfies the qualifications. As immigration policies are subject to change, we advise prospective applicants to seek the most current information for applying for LTR Visa. Our law firm stands ready to offer personalized advice and assistance, tailored to your specific circumstances. For further assistance, please contact us.
Navigating the Path to Work in Thailand: Non-B Visa and Work Permit Essentials
Embarking on a professional journey in Thailand involves mastering the intricacies of the Non-Immigrant Business Visa (Non-B Visa) and obtaining a Work Permit.
Essential Steps: Non-B Visa and Work Permit in Thailand
Any foreigner or non-Thai people who intends to work in Thailand is required to initially obtain a Non-Immigrant Business Visa (Non-B Visa) and work permit before starting work or conducting the business in the country, such the Visa is valid for 90 consecutive days from the date of issuance.
Work Permit and Non-Immigrant Business Visa (Non-B Visa) – What’s the Difference?
Work Permit in Thailand:
Definition: A legal document issued by the Department of Employment, Ministry of Labour in Thailand.
Purpose: Enables foreigners to work legally in the country.
Requirements: Typically requires a job offer or employment in Thailand.
Government Authority: Department of Employment, Ministry of Labour.
Non-Immigrant Business Visa (Non-B Visa):
Definition: A visa type for foreigners entering Thailand for business-related activities.
Purpose: Permits engagement in business meetings, conferences, and negotiations.
Employment Authorization: Does not grant the right to work in Thailand.
Relationship to Work: Individuals with this visa intending to work must also obtain a Work Permit.
Government Authority: Department of Consular Affairs or Immigration Bureau.
Could you work in Thailand with a Non-B Visa without Work Permit?
To obtain a Non-Immigrant Business Visa (Non-B Visa) is a crucial step to be taken into consideration prior to legally working in Thailand. Work Permit application is one of the most mandatory requirement that the foreigner must be typically granted the permission from the Department of Employment, Ministry of Labour after obtaining the Non-B Visa. It’s advisable to apply promptly for a Work Permit within 45-60 days prior to Non-B Visa is expired since working in Thailand without a valid Work Permit causes serious legal consequences or penalties.
Summary on engaging in employment in Thailand is required to obtain both a Non-Immigrant Business Visa (Non-B Visa) and a Work Permit.
Foreigners who intend to engage in employment, the business activities, or investment ventures in Thailand are required to apply for or possess a Non-B Visa and Work Permit which enables the foreign workers to access the rights and benefits associated with legally working in the country. Therefore, work permit application process should be completed within 90 days before the applicant’s Non-B Visa is expired to avoid potential penalties.
Conclusion:
To ensure a satisfying and legally compliant work experience in Thailand for foreigners, our firm is delighted to provide comprehensive advice regarding Non-B Visa and Work Permit application and assist the clients in preparation of required documents to be submitted to the relevant government authorities.