LTR VISA THAILAND (LONG-TERM RESIDENT)

Applying for an LTR Visa in Thailand 2024

Relocating to Thailand for an extended stay is an exciting opportunity, but the legal process can be challenging. With the right guidance, securing a Long-Term Resident (LTR) Visa can be smooth and straightforward, allowing you to enjoy your new life in Thailand with ease.

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Your Go-To Experts for LTR Visas Since 2012

Moving to Thailand for an extended stay is an exciting opportunity, but navigating the legal requirements can be complex. At FRANK Legal & Tax, we specialize in guiding high-potential foreigners through the process of obtaining a Long-Term Resident (LTR) Visa, ensuring a smooth and hassle-free relocation.

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Fabian Doppler

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Sireetorn Keeratiwetchakul

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Who Is Eligible for a LTR Visa?

The LTR Visa targets “high-potential” foreigners seeking long-term residency in Thailand. It includes wealthy global citizens, pensioners, and highly skilled professionals. A bonus: Spouses and children are also eligible.

Wealthy Global Citizens

To be considered a wealthy global citizen applicants need to meet the following criteria.

Net asset value of no less than USD 1 million

  • Applicants must have a net asset value of at least USD 1 million
  • Excluded are assets without ownership proof or reliable market appraisals, such as artworks, jewelry, cryptocurrencies, or memberships.

Personal income of now less than USD 80,000 per year

  • Applicants need to submit income statements of the past 2 years

Investment of at least USD 500,000 in one of the following asset classes

  • Thai government bond issued by the Ministry of Finance with over 5 years of remaining maturity
    at the time of application
  • A limited company or public company registered under Thai law
  • A venture capital company registered with the Securities and Exchange Commission (SEC), Thailand (excluding investment in the Stock Exchange of Thailand (SET)).
  • In Thai property, including condominiums, apartments, leasehold properties, or villas.

International health insurance (No travel insurance)

  • Coverage of no less than USD 50,000
  • Insurance must have a remaining maturity of at least 10 months at the time of application
  • Alternatively, valid social security benefits covering hospitalization and treatment in Thailand are acceptable
  • As another option, a deposit of no less than $100,000 USD in a bank account held for at least 12 months at the time of application can be used

Work permit

  • A work permit can be applied for after the visa is issued.

Wealthy Pensioners

Wealthy pensioners must be 50 years or older with an unearned annual income of at least USD 80,000. If their income is between USD 40,000 and USD 80,000, they must also invest at least USD 250,000 in specified Thai assets such as government bonds, Thai companies, or property.

Age requirement

  • Applicants need to be 50 years or older

Personal income of no less than USD 80,000 per year

  • This includes unearned income such as pension, rental income, capital gains, dividends, etc
  • Earned income, such as a salary, is not accepted
  • If personal income is below USD 80,000, but not less than USD 40,000 per year, applicants must invest at least USD 250,000 in one of the following categories:
  • Thai government bond issued by the Ministry of Finance with over five years of remaining maturity at the time of application
  • Investment in a limited company or public company registered under Thai law, or investment in a venture capital company registered with the Securities and Exchange Commission (SEC), Thailand (excluding investment in the Stock Exchange of Thailand (SET))
  • Investment in Thai property, such as condominiums, apartments, leasehold properties, or villas

International health insurance (No travel insurance)

  • Coverage of no less than USD 50,000
  • Insurance must have a remaining maturity of at least 10 months at the time of application
  • Alternatively, valid social security benefits covering hospitalization and treatment in Thailand are acceptable
  • As another option, a deposit of no less than USD 100,000 in a bank account held for at least 12 months at the time of application can be used

Work permit

  • A work permit can be applied for after the visa is issued.

Professionals Working Remotely From Thailand

Professionals working remotely from Thailand are eligible if they work for a foreign company with a minimum annual income of USD 80,000 over the past two years. If their income is between USD 40,000 and USD 80,000, they must meet additional requirements

Employment requirements

  • The applicant needs to work remotely for a “well-established” foreign company
  • Employer must be a public company on a stock exchange or a private company in operation for at least three years with a total revenue of at least USD 150 million in the last three years
  • A Work Permit is not required for the application, the employer doesn’t need to have a Foreign Business License (FBL)

Personal income of no less than USD 80,000 per year

  • Applicants need to submit income statements for the past 2 years
  • If personal income is below USD 80,000, but not less than USD 40,000 per year for the past two years, applicants must have a master’s degree or above, own intellectual property, or receive Series A funding

International health insurance (No travel insurance)

  • Coverage of no less than USD 50,000
  • Insurance must have a remaining maturity of at least 10 months at the time of application
  • Alternatively, valid social security benefits covering hospitalization and treatment in Thailand are acceptable
  • As another option, a deposit of no less than $100,000 USD in a bank account held for at least 12 months at the time of application can be used

Work permit

  • A work permit is not required

Highly-Skilled Professionals Working in Thailand

Highly-skilled professionals must work for targeted entities in Thailand, such as businesses, educational institutions, or government agencies, with at least five years of relevant experience. They must also have an annual income of at least USD 80,000, or meet additional education and insurance requirements if earning between USD 40,000 and USD 80,000.

Employment requirements

  • Applicants need to work for targeted business entities, higher education institutes, research centers, or specialized training institutions in Thailand, or Thai government agencies
  • At least five years of work experience in the targeted industries, except for applicants with a PhD or above in a relevant field of the targeted industries, or applicants working for Thai government agencies
  • Work permit is included

Personal income of no less than USD 80,000 per year (no dividends)

  • Applicants need to submit income statements for the past 2 years
  • The income requirement doesn’t apply to professionals working for Thai government agencies
  • If personal income is below USD 80,000, but not less than USD 40,000 per year for the past two years, applicants must have a master’s degree or above in science and technology or other special expertise relevant to the job assignment in Thailand

International health insurance (No travel insurance)

  • Coverage of no less than USD 50,000 through the entire period of stay in Thailand
  • Or social security healthcare, which insures hospitalization treatment in Thailand

Work permit

  • A work permit will be issued at the same time as the visa

Spouses and Dependents

Wealthy pensioners must be 50 years or older with an unearned annual income of at least USD 80,000. If their income is between USD 40,000 and USD 80,000, they must also invest at least USD 250,000 in specified Thai assets such as government bonds, Thai companies, or property.

  • Must be legal dependents of the applicant (spouses and children under 20 years of age)
  • Maximum 4 dependents in total per one LTR visa holder
  • Same-sex marriage or partnerships are currently not recognized under Thai Law
  • Children will only be eligible as dependents until 20 years of age
  • Spouses and dependents must have international health insurance with coverage of at least USD 50,000, valid for at least 10 months. Alternatively, they can provide social security benefits covering treatment in Thailand or a bank deposit of at least USD 100,000 (USD 25,000 for dependents), held for at least 12 months.
  • A work permit can be applied for after the visa is issued.

Advantages of the Long-Term Resident (LTR) Visa

The Long-Term Resident Visa in Thailand offers a 10-year renewable stay, work permission, simplified reporting, multiple re-entry permits, and expedited immigration services.

10-year renewable visa

Permission to work in Thailand (digital work permit)

Exemption from the four-Thai-employee-to one-foreign employee requirement

90-day reporting replaced by annual reporting

Multiple re-entries permit

Immigration and work
permit facilitation services

Fast Track Service at international airports in Thailand

Tax Benefits

LTR Visa holders benefit from a 17% flat tax rate for highly skilled professionals and income tax exemptions for other categories of foreign income earned in previous tax years.

For highly-skilled professionals:

17% flat personal income tax rate instead of the standard 0-35% progressive rates

For all others

For wealthy global citizens, wealthy pensioners, and professionals working from Thailand: Income tax exemption applies to income earned abroad in a previous tax year, whether from work, business, or assets located outside Thailand. If this income is brought into Thailand in a later fiscal year, it qualifies for the exemption. These tax concessions are subject to the rules and conditions set by the Revenue Department.

LTR Visa Application Process

The LTR Visa targets “high-potential” foreigners seeking long-term residency in Thailand. It includes wealthy global citizens, pensioners, and highly skilled professionals. A bonus: Spouses and children are also eligible.

Step 1 – Application Submission

  • The applicant creates an LTR application account and submits the application

Step 2 – Status: Pending

  • The officer reviews LTR application (3 working days) / (Might take longer if additional
    documents are requested)

Step 3 – Status: Application Registered

  • After the review process the application is officiyall registered

Step 4 – Status: Consideration by Government Agencies

  • Application to be considered by relevant agencies (20 working days) / (Might take longer if additional documents are required)

Step 5 – Status: Qualifications Approved

  • Qualifications endorsement result is notified

Step 6 – Status: Document Review for Visa/WP Issuance

  • Applicant updates information and uploads additional documents (processing time depends on how long applicants take to prepare information/documents)

Step 7 – Status: IMM/DOE Pre-approved Visa/WP Issuance

  • Pre-approval process by immigration (Processing time depends on the completeness of updated info/uploaded documents in Step 6)

Step 8 – Status: Visa/WP Issuance Pre-approved

  • Making appointment for LTR Visa issuance (If the applicant is in Thailand)

Step 9 – Status: Appointment

  • LTR Visa issuance at the one-stop service center for Visa and work permit with the Department of Labor

Step 10 – Status: Completed

  • LTR Visa is issued (LTR Visa holders who work for an entity in Thailand are required to apply for permission to work immediately after receiving
    LTR Visa or before employment with an entity in Thailand starts)

FRANK Legal & Tax: Legal Excellence Since 2012

At FRANK Legal & Tax, we specialize in assisting clients with the Long-Term Resident (LTR) Visa in Thailand. Our team provides expert guidance on navigating the LTR Visa application process, including visa requirements, document preparation, and compliance with Thai immigration laws.

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For professional assistance with your LTR Visa application in Thailand, choose FRANK Legal & Tax. We deliver tailored legal solutions to meet your specific needs. Contact us today for a consultation.

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