The Thailand Long Term Resident Visa is for foreigners who want to live and work in Thailand for a long time. This type of visa can be very beneficial as you can enjoy the many perks of living in the country. If you are interested in applying for this type of visa, read on to learn more about the application process.
What is Thailand Long-Term Resident Visa?
The Long Term Resident Visa (LTR) is a 10-year visa that allows foreigners to stay in Thailand. This visa is designed to attract high potential and high net worth foreigners to live in Thailand and invest in the Thai economy.
In order to qualify, applicants must be a citizen of a country listed in the list of eligible countries. Some of the eligible countries include the United States, Australia, France, Denmark, and Japan. Applicants must be at least 50 years old at the time of applying for the visa.
Applicants must have a personal income of at least US$80,000 per year during the last two years before applying for the visa. Foreigners who want to work from Thailand must also have a minimum of five years of relevant work experience. They must have a bank deposit of at least 1.8 million baht in Thailand at the time of application.
For foreigners who wish to work for a Thai government agency, they are exempted from the minimum income requirement. However, they must have a personal income of at least 1.2 million baht a year.
Privileges of Thailand LTR Visa
Thailand's new Long-Term Resident (LTR) Visa program provides a number of benefits for qualified individuals and their family members. With this new visa, foreigners can live and work legally in Thailand for up to ten years. As an LTR holder, you will also have the chance to enjoy special tax breaks.
In order to qualify for the visa, you will have to meet certain requirements. For instance, you will need to have five years of work experience in a targeted industry. And the company you are working for must be publicly traded. The employer must generate at least $150 million in sales in the past three years.
Additionally, you will also have to demonstrate a minimum amount of health insurance coverage in Thailand. Then, you will need to submit a series of supporting documents.
To be considered for the visa, you will need to demonstrate that you have at least a master's degree. You will also need to show that you have intellectual property.
Type of Thailand LTR Visa
The Thailand LTR Visa is a type of visa that can help you stay in Thailand for up to 10 years. This special visa offers many benefits, including tax exemptions and work permit. It's also expected to boost the economy.
- LTR Visa for Wealthy Global Citizens
- LTR Visa for Wealthy Pensioners
- LTR Visa for Work-from-Thailand Professionals
- LTR Visa for Highly-skilled Professionals
- LTR Visa for Spouses and dependents
There are four categories of foreigners who can apply for the LTR visa. These include Highly Skilled Professionals, Wealthy Pensioners, Wealthy Global Citizens, and Work-from-Thailand professionals.
To qualify for the LTR Visa, you must have a personal income of at least US$80,000 per year in the past two years. You must also have five years of relevant work experience in the targeted industries.
The program has been designed to attract new talents and foreign residents. In addition, it strengthens the private business sector and encourages domestic spending. With this in mind, the Thai government has set a target of attracting one million wealthy foreigners over the next five years.
Although the requirements for this visa vary, it's important to know what you need to be eligible. A qualified advisor can assist you with the application process and ensure that you meet all the criteria.
Thailand LTR Visa Process
The Long Term Resident (LTR) Visa is an economic incentive program designed to attract foreign high-potential residents to Thailand. The visa provides fast track services at the country's international airports and a discounted personal income tax rate of 17 percent for foreigners working in Thailand.
Besides attracting foreigners, the LTR visa is also aimed at bolstering the private business sector of Thailand. There is an ongoing need for talented domestic workers as well as highly skilled international professionals to be hired in Thailand.
To qualify for the new LTR visa, applicants must have a personal income of at least $80,000 per year in the past two years. In addition, they must also have a bank deposit of at least 1.5 million baht. Here are the 4 process:
- LTR Application Submission
- Qualifications Endorsement
- LTR Visa Issuance
- Digital Work Permit Issuance
To apply, applicants will need to submit supporting documents such as a copy of their passport and a letter of endorsement from the Thai government. They can apply for the LTR visa at a Royal Thai Consulate General abroad or at a Thai immigration office.