Introduction :
Thailand has emerged as a leading destination for the world’s affluent individuals seeking new opportunities. To continue its push to attract high value individuals, Thailand’s Long-Term Resident (LTR) Visa program has become a key governmental initiative, presenting an enticing opportunity not merely to experience Thailand’s distinct culture and environs, but to immerse oneself fully in its inimitable way of life long-term.
The privileges on offer from the LTR extend beyond allowing the holder to stay in Thailand long term. The LTR offers a means of seeking fresh professional and personal opportunities on offer in Thailand.
Points clés
- The LTR Visa allows wealthy investors and global citizens to live and work in Thailand for 10 years, provided they meet specific financial requirements such as owning at least $1 million in assets, having an average annual income of $80,000 for the past two years, and investing at least $500,000 in Thailand.
- The required $1 million USD in personal assets can be made up of qualifying investments made solely in Thailand or a combination of the mandatory 500,000 USD investment in Thailand and at least 500,000 USD from assets held abroad.
- Key benefits of the LTR Visa include tax exemption for overseas income, eligibility for a Digital Work Permit, the ability to bring spouse and children as dependents, and faster immigration services.
- Required documents include evidence of income, assets, investments in Thailand, health insurance coverage of at least $50,000, and other supporting documents.
- The application process involves online submission, qualifications endorsement by relevant agencies, visa issuance, and work permit issuance (if applicable).
- LTR Visa holders can bring up to four family members (children under 20 and spouse) as dependents, subject to meeting additional requirements such as health insurance coverage.
What is the LTR Visa for Wealthy Investors?
Thailand has cemented its position as a leading destination for affluent global citizens seeking a place to settle down. This popularity is due to Thailand’s open approach to foreign investment and a strategic drive to attract skilled and wealthy individuals who can bring value to Thailand.
The Long-Term Resident (LTR) Visa, represents the Thai government’s approach to attract high value to individuals to Thailand to help encourage economic growth through foreign investment and expertise.
The LTR visa for Wealthy Global Citizens offers those who qualify a 10 year visa to live and work in Thailand while also enjoying a range of benefits not available to other visa types. The benefits on offer can greatly simplify and enhance the Thai experience for the holder, making their time in Thailand even more remarkable.
What are the Eligibility Requirements for the Long-Term Residency Visa for Wealthy Global Citizens?
The eligibility requirements for the LTR visa for Wealthy Global Citizens is as follows:
- Owning at least USD 1 million in assets under the applicant’s name.
- Please note, these assets can all be held in Thailand e.g. Thai real estate, owning a company or other qualifying investments such as government bonds;
- A combination of the mandatory USD 500,000 investment in Thailand and at least USD 500,000 in qualifying assets abroad can also be used.
- Minimum average personal income of USD 80,000 / year in the past two years;
- Combined investment in Thai government bonds OR direct investment in companies registered in Thailand OR Thai property of at least USD 500,000;
- Insured under a health insurance covering a minimum of USD 50,000 OR receiving social security benefits in Thailand OR deposit and maintain at least USD 100,000 in bank account balance under the applicant’s name during the past 12 months.
What are the Benefits of the Long-Term Residency Visa for Wealthy Investors?
The Long-Term Resident Visa category for wealthy global citizens offers many advantages to help facilitate living and working in Thailand. Examples include:
- A 10 year visa that offers the holder the ability to live in Thailand without having to renew their visa every year;
- Tax exemption for overseas income;
- Eligibility to apply for immigration and work permit services at One Stop Service Center for visa and work permit. The One Stop Service Center is a fast and efficient service that will allow holders of LTR visas to save a significant amount of time for immigration and work permit matters when compared to normal visa holders in Thailand;
- The ability to apply for a Digital Work Permit;
- The ability to bring spouse and children on dependent visas;
Please note that holders of the LTR for wealthy global citizens ARE NOT eligible for the flat personal income tax rate of 17%.
What Documents are Required when Applying for LTR Based on being a Wealthy Global Citizen?
When applying for an LTR visa based on being a Wealthy Global Citizen, applicants must be able to provide the following documentation.
Preuve de revenus et/ou d'investissement
Applicants must be able to provide evidence that they have the following:
- Earned USD 80,000 / year for 2 consecutive years.
- Financial evidence showing a deposit of no less than 100,000 USD (or 25,000 USD in case of dependents only) has been made which has been held for no less than 12 months at the time of application.
- Voici quelques exemples de preuves acceptées :
- Déclarations de revenus des personnes physiques
- Relevés bancaires obtenus auprès de votre banque,
- Fiches de paie venant de votre employeur
- Documents showing income earned from passive income such as income such as interest, royalties or rental incomes etc.
- Made an investment in Thailand of at least 500,000 USD.
- Copy of a Thai Government Bond with the remaining maturity of no less than 5 years in applicant’s name OR
- Securities Business License from the Securities and Exchange Commission in case of investing in venture company OR,
- Thai Company’s shareholder list (Bor.Or.Jor. 5, not more than 3 months old) OR,
- Evidence of property investment in Thailand.
- For freehold property, a copy of the certificate of ownership of apartment/condo in the applicant’s name (Or.Chor. 2) AND a copy of the sale and purchase agreement of the condominium unit (Or.Chor. 16 or 23) issued by the Department of Land.
- For leasehold, a copy of the leasehold agreement issued by the Department of Land.
- For investment in other forms of property such as owning a villa or a land lease, an official sale and purchase agreement which indicates the purchase value of the property OR/AND the land deed which states your name as the owner of the Usufruct property right or leaser.
- Have personal assets of at least 1,000,000 USD (this can be from qualifying assets held in Thailand OR assets held in their home country OR a combination of assets including the 500,000 USD invested in Thailand and further 500,000 USD from abroad).
- Publicly traded stock and mutual fund, OR
- Private and commercial real estate and land. OR
- Gold in gold account.
- All evidence provided must be in English or Thai language only. If the proof is submitted in another language, a notarized translation will be required.
- Please note, the evidence of having Global Assets of not less than 1 million USD, cryptocurrencies, token, amulets, arts, designer items, watches and jewellery will not be accepted as forms of proof.
Health Insurance
International health insurance (travel insurance is unacceptable) policy covering entire course of stay in Thailand, with coverage for hospitalisation treatment of no less than 50,000 USD and the remaining period of no less than 10 months OR,
It is important to note that health insurance must come from a provider contained in the list of approved brokers by Immigration Bureau (Thai company or a broker that operates in Thailand).
A signed Foreign-Insurance Certificate form is required. Please note, this form must be signed by an authorised signatory from the broker or the insurance company.
This form must state:
- the full name of the policy holder,
- passport no,
- nationality and
- policy start/end date for the applicant.
What is the Application Process for the LTR Visa for Wealthy Global Citizens?
The application process for the LTR visa for Wealthy Global Citizens requires completing the following stages:
Dépôt de la demande
Les candidats sont tenus de s'inscrire et de soumettre en ligne une demande de mention de qualification. Pour ce faire, le candidat doit télécharger tous les documents justificatifs requis.
Reconnaissance des qualifications
Une fois que le BOI a reçu tous les documents requis, la demande est enregistrée et envoyée pour validation des qualifications par les agences gouvernementales compétentes (telles que l'Immigration, le Thailand's Board of Investment, le Department of Consular Affairs, etc.)
Les candidats seront informés du résultat de la validation des qualifications dans un délai de 20 jours ouvrables. Veuillez noter que le délai de traitement peut être plus long si des documents supplémentaires sont exigés par l'un des organismes d'examen.
Veuillez également noter que toute décision prise par l'agence gouvernementale concernant le résultat de la validation des qualifications pour le visa LTR est considérée comme définitive et contraignante.
Délivrance du visa
Une fois la demande et l'attestation de qualification approuvées, les demandeurs doivent fournir des informations et des documents supplémentaires pour la procédure de préapprobation, qui prend généralement de 1 à 3 jours ouvrables. Le délai de traitement peut être plus long si des documents supplémentaires sont demandés.
Oncebe issued with their qualifications endorsement letter. This letter can be used to apply for the LTR Visa issuance at the Royal Thai Embassies/the Royal Thai Consulate Generals overseas or One Stop Service for Visa and Work Permit Center (Bangkok). Applications must be made within 60 days from the issuance date of the letter.
Délivrance du permis de travail
LTR Visa holders who work for a Thai company are required to apply for a work permit immediately after receiving their LTR Visa or before they begin work with a Thai company.
The process takes 3-5 working days (processing time might take longer if additional documents are requested).
Once the work permit request is approved, LTR Visa holders can make an appointment to collect the work permit at the Department of Employment at One Stop Service Center for Visa and Work Permit, Chamchuri Square Building, Bangkok.
While the work permit request is still in process, LTR Visa holders are temporarily allowed to work in Thailand without the work permit.
Veuillez noter que les permis de travail ne sont pas requis pour les titulaires d'un permis de travail de Thaïlande.
Can holders of the LTR for Wealthy Global Citizens bring their family as dependents?
Applicants of the LTR for Wealthy Global Citizens are also permitted to bring up to 4 family members to Thailand as a dependent of their LTR Visa.
Les membres de la famille autorisés incluent les enfants de moins de 20 ans et les conjoints, à condition qu'ils soient des membres légaux de la famille par le mariage, la naissance ou l'adoption . Cependant, il est important de noter que les mariages de droit commun et les mariages entre personnes de même sexe ne sont pas actuellement reconnus en Thaïlande. Par conséquent, les conjoints dans de telles relations ne peuvent malheureusement pas être considérés comme des personnes à charge.
Pour que les personnes à charge puissent rejoindre le titulaire du visa LTR, les conditions suivantes doivent être remplies :
- Chaque personne à charge doit bénéficier d'une assurance maladie couvrant au moins 25 000 dollars.
- Seuls les enfants de moins de 20 ans sont éligibles en tant que personnes à charge.
- Le demandeur principal devra fournir des documents supplémentaires pour prouver le lien de parenté avec les personnes à charge, telles qu'un certificat de mariage ou de naissance.
Nos réflexions
The Thai LTR visa for Wealthy Global Citizens offers a unique opportunity for affluent individuals to truly establish themselves in Thailand long-term. With its generous 10-year validity, tax exemptions on overseas income, and streamlined processes for immigration and work permits, the visa makes it incredibly convenient to live, work, and potentially start a business in Thailand. The ability to bring family members as dependents further enhances the appeal. For those with the required assets, income, and Thailand investment, the LTR visa paves the way to an enriching experience. With Thailand’s welcoming attitude toward foreign expertise and investment, the LTR visa stands as an enticing prospect for wealthy global citizens seeking new personal and professional horizons.
