In May 2022, Thailand made one of the most significant announcements of tweaking the usual Long Term Resident Visa in the country. Instead of the older application fee of 100,000 Baht, potential residents now need to pay only 50,000 Baht to secure the visa.
The Thailand Long-Term Resident Visa, alternatively known as the LTR, is geared to attract potential individuals who are looking to reside in Thailand. The overall program is geared toward people who want to live in the country for the long run. The administrative departments of Thailand believe that this is an excellent measure to enhance economic development and boost foreign investments in the nation. The program was launched following the pandemic to address the usual debts of the nation, and as per the latest government announcement, they aim to bring almost a million ex-pats in the next couple of years.
Having said that, who would be eligible for this long-term visa? And what other things must one consider before getting this Visa? We will find out all that and more in the following few sections.
Eligibility
To be eligible for the program, you need to either be a foreign individual with a high overall income, a retiree based in a foreign land, a foreigner who is looking for remote working options in Thailand, or a foreign individual with a set of skills that are deemed special in Thailand.
Related Post
If you qualify for the long-term resident visa, you can bring a maximum of four members from your family, including your spouse and kids under 20.
To simplify:
- Your assets should be a minimum of one million
- If you were employed, your salary should be at least $80,000 annually over the last two years
- You should invest at least 500,000 USD in government bonds or properties based in Thailand
- Valid health insurance with coverage of at least 50,000 USD
How Living and Working in the Country is an option.
Thailand is a beautiful country, and you don’t even need to physically work in a Thai-based company to qualify for the Thailand long-term resident visa. Once you get your visa, collect your work permit from the country’s labor office, and you are good to go. Following that, you can work any job of your choice, including (but not limited to) remote jobs.
So, whether you are an engineer, doctor, writer, have a contract with a Thai business, a wealthy pensioner, or a foreigner who has up to 100,000 USD in a Thai or foreign bank account, you can easily qualify for the visa. The best part: this visa is also geared toward digital nomads who want to live the remote job experience. All you need to do is furnish bank statements where you received 80,000 USD over the last two years.
Application Process
To apply for the visa, you need to send a direct application to the Thai Board of Investment, the BOI. Also, note that the visa stay will be for five years at a stretch, and if qualified, you can eventually move it to five more years.
Documentation
The LTR Visa requirements are different for different individuals. You should check the Thailand BOI official website for more information on the documentation.
To apply for the visa, you need to visit the official e-visa website of Thailand, key in your details, upload all necessary documents in the application form, send the required visa fee, wait until your visa is processed, and finally receive your visa approval via email.
Conclusion
So whether you are looking to lead the nomad life, work from Thailand, or just enjoy the life of a wealthy professional or pensioner, Thailand is one of your best destinations. Just check the documentation and eligibility requirements from the official BOI website, and you are all set!
