Thailand’s economy has made developing key industries and attracting top global talent one of its top priorities. At the forefront of this initiative is the SMART Visa, a visa program designed to facilitate the entry and retention of highly skilled professionals, investors, executives, and entrepreneurs. 

This blog post will explore the SMART Visa, including its eligibility criteria, benefits, and the application process.

Key Points

• The SMART Visa program aims to attract foreign talent in targeted industries like automation, biotechnology, and digital technology to boost Thailand’s economy.
• There are five SMART Visa categories: Talent (T), Investor (I), Executive (E), Startup (S), and Other (O) for dependents, each with specific eligibility criteria.
• Benefits include extended visa duration up to 4 years, work permit exemption, reduced reporting requirements, and work rights for spouses and dependents.
• The application process involves online submission, document verification, qualification endorsement by relevant agencies, and visa issuance at Thai embassies or immigration offices.

What is the SMART Visa?

The SMART Visa is a specialised visa category introduced by the Thai government in 2018 to help attract highly skilled foreign talent with expertise in targeted industries. By offering a streamlined application process, extended visa durations, and a host of additional privileges, the SMART Visa has become a highly sought-after option for those seeking to work, invest, or establish businesses in Thailand.

Targeted Industries Eligible for a SMART Visa

The SMART Visa is designed to cater to individuals with expertise in the following targeted industries:

By focusing on these specific sectors, the Thai government aims to promote innovation and technological advancements.

Benefits of the SMART Visa

The SMART Visa offers a range of benefits that make it an attractive option for skilled professionals, investors, executives, and entrepreneurs seeking to establish a presence in Thailand. These advantages include:

Extended Visa Duration: SMART Visa holders can obtain a visa for up to 4 years, subject to the duration of their employment or service contract.

Exemption from Work Permit Requirement: SMART Visa holders are not required to apply for a separate work permit, streamlining the process of legally working in Thailand.

Reduced 90-Day Reporting: Instead of the standard 90-day reporting requirement for foreigners, SMART Visa holders only need to report their stay annually.

Waiver of Re-Entry Permit: SMART Visas are multiple entry and therefore holders are exempt from the need to apply for a re-entry permit when leaving and re-entering Thailand.

Spousal and Dependent Work Rights: The spouse and children of SMART Visa holders are allowed to work in Thailand without the need for a separate work permit, provided the job is not on the list of occupations and professions prohibited to foreigners.

These significant advantages make the SMART Visa a highly desirable option for individuals seeking to maximise their professional and personal opportunities in Thailand.

The Different Categories of SMART Visa

The SMART Visa program offers five distinct categories to accommodate the varying needs and backgrounds of applicants:

SMART Visa “T” (Talent)

The SMART Visa T in Thailand is designed for highly skilled professionals or experts in science and technology.

Qualifications and Criteria

1. Minimum monthly income of no less than 100,000 THB (or equivalent). For experts who an employment contract with a startup, or retired experts (who have received endorsements from a relevant agency), a minimum income of at least 50,000 Baht per month is required.
2. Having an employment or service contract with an entity in Thailand (with at least one year of validity remaining).
3. Be an expert in science and technology relevant to the targeted industries and endorsed by an agency within the Strategic Talent Center (STC)’s network.
4. The employers of the application in Thailand must be endorsed for being engaged in the targeted industries by relevant government agencies such as the National Innovation Agency (Public Organization) and Digital Economy Promotion Agency.

Privileges

1. Maximum renewable 4-year visa, but not exceeding the employment/service contract term.(Maximum renewable 2-year visa for experts working for startup)
2. No work permit required for working in the endorsed companies. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse granted permission to work with no work permit required.
6. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa “I” (Investor)

The SMART Visa I in Thailand is designed for investors in targeted industries.

Qualifications and Criteria

1. Minimum investment of either of the following:
   • Directly investment in a technology-based business that operates within the targeted industries in Thailand. This investment must be made as an individual investor or through a venture capital company in Thailand for a total amount of at least 20 million Baht.
   • Directly investing as an individual investor for a total amount of at least 5 million Baht in a startup or an incubation or accelerator program endorsed by relevant agencies. Please note, the investor can invest in more than 1 business but must the investment must be maintained throughout the validity of their Smart Visa.
2. The business to be set up or invested in must have received certification as a technology-based company operating in manufacturing or delivering services in the targeted industries\.
3. If the investment is made through a venture capital company, the investment must be certified by relevant agencies as being either a venture capital company investing in the technology-based business in manufacturing or delivering services in the targeted industries.

Privileges

1. Maximum renewable 4-year visa.
2. No work permit required for working with an entity or government agency. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse granted permission to work with no work permit required.
6. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa “E” (Executive)

The SMART Visa E in Thailand is designed for executives (C-suite level executives or those in similarly high positions) working in targeted industries.

Qualifications and Criteria

1. Minimum income of 200,000 Baht per month (or equivalent).
2. Having a Bachelor’s degree or above or equivalent with at least 10 years of work experience in the relevant fields.
3. Having an employment or service contract with a Thai entity with a validity of at least 1 year.
4. Hold a senior management position e.g. Chairman or Managing Director.
5. The employing companies must be certified as being technology-based in manufacturing or delivering services in the targeted industries.

Privileges

1. Maximum renewable 4-year visa, please note that the SMART visa ‘E’ cannot have a length longer that the applicants employment/service contract term.
2. No work permit required for working in the position or company certified by relevant agencies. In case of changes of jobs, additional endorsements in accordance with the relevant requirements will be required.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse can undertake to work with no work permit required.
6. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa “S” (Startup)

The SMART Visa S in Thailand is designed for startup entrepreneurs. The startup must be based on innovation or technology in one of the targeted industries.

Qualifications and Criteria

1. Establish a startup company in Thailand within the targeted industries.
2. Hold no less than 25% of the company’s registered capital and/or hold a position of a director of the the company.
3. Have no less than 600,000 THB (or equivalent) in a bank account in Thailand or in the country of his/her nationality or residence. This amount must have been held in the account for at least 3 months.
4. For any spouses and children accompanying the holder, an additional amount of deposit of 180,000 Baht per person (or equivalent) is required in a bank account in Thailand or in the country of his/her nationality or residence. This amount must have been held in the account for at least 3 months.
5. Have a health insurance policy covering the entire period of stay in Thailand for the applicant (and any accompanying spouse and children).

Privileges

1. Maximum renewable 2-year visa.
2. No work permit required for working for the company under which the SMART visa was applied for. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse granted permission to work with no work permit required.
6. Access to a fast -track service at international airports in Thailand (where available).

SMART Visa “O” (Other)

The SMART Visa O in Thailand is designed for spouses and dependents of SMART Visa holders.

Qualifications and Criteria

1. Must be the legal dependants (spouse and children) of Smart visa holder Type ” T “, ” I “, ” E ” and ” S ” (except those who are granted only 6-month visa)
2. Children must be under 20 years old (Except children of Smart “T” holders who are over 20 years old can apply for Smart “O” under certain conditions).
3. Spouses and children must have an additional amount of deposit of no less than 180,000 Baht per person or equivalent is required in a bank account in Thailand or in the country of his/her nationality or residence, which has been held for at least 3 months. (Only for Smart “S” followers)
4. Having health insurance covering the entire period of stay in Thailand for the applicant as well as spouse and children. (Only for Smart “S” followers)

Privileges

1. The children of Smart “T” holders and spouses (all SMART visa types) are granted permission to stay and work with no work permit required for the same duration as the Smart visa holder. Children granted permission to stay for the same duration as the Smart visa holder.
2. No work permit required for working in the endorsed companies. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained. (Only children of Smart “T” can work and must be at least 18 years old. The jobs must not be on the prohibited list of occupations and professions for foreigners)
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa Application Process

Obtaining a SMART Visa involves a multi-step process that requires careful preparation and coordination. The application process is as follows:

Online Application: Applicants must create an account and submit the online SMART Visa application through the official SMART Visa website.

Document Submission: Applicants must attach electronic (PDF) copies of all the required documents for their respective SMART Visa category.

Qualification Endorsement: The relevant agencies in Thailand responsible for endorsing the applicant’s qualifications will check and verify the applicants documents to ensure they satisfy all requirements.

Visa Application: Applicants will be informed of the outcome of their application and if successful, they must then apply for the visa at either a Royal Thai Embassy or Consulate (if living abroad) or the Immigration at the OSS in Bangkok or the EEC Labour Administration Center in Chonburi (if living in Thailand).

The processing time for the SMART Visa application can be broken down as follows:

Initial online application: 3 working days

Endorsement of qualifications: 30 working days

Visa application at an overseas mission/OSS/EEC: 2-10 working days, depending on the specific office

It is important to note that the SMART Visa application fee is 10,000 Thai Baht per year, which may be subject to change based on the local currency of the country where the application is submitted.

Extending the SMART Visa

SMART Visa holders have the option to apply for an extension of their visa, which can be done at least 60 days before the current visa expires. The extension process involves re-applying for an endorsement of the applicant’s qualifications and then submitting the extension application at the Immigration Bureau at the One-Stop Service Center for Visa and Work Permit (OSS).

The cost of renewing the SMART Visa is 10,000 Thai Baht per year, which aligns with the initial application fee.

The SMART Visa as an Option for Investors and Entrepreneurs

The SMART Visa program offers several advantages for foreign businesses and investors:

Attracting Talent: Businesses can take advantage of the SMART Visa to recruit highly skilled professionals and executives in targeted industries. By simplifying the visa process for these specialists, businesses can fill key positions and boost their competitiveness.

Investor Streamlined Entry:  The SMART Visa offers a specific category for investors (SMART Visa type “I”). This category allows foreign investors who meet minimum investment thresholds (20 million baht) in qualifying businesses to gain easier entry and extended stays in Thailand. This can be especially useful for investors looking to establish or expand their presence in the Thai market. The SMART visa removes a long standing pain point of what visa is best for an investor.

Reduced Bureaucracy: The SMART Visa program streamlines the visa application process compared to traditional work visas. This reduces administrative burdens for both businesses and foreign personnel, allowing them to focus on their main business activities.

Work Permit Exemptions:  For qualifying individuals under the SMART Visa, work permit requirements are waived. This simplifies the employment process and removes a potential barrier for businesses seeking foreign talent. For Thai Limited Companies applying for and obtaining a Work Permit can be a challenge due to needing 4 Thai employees and 2 million THB per Foreign Employee. While BOI companies have a significantly reduced criteria for hiring foreign skilled workers, applying for a BOI promotion can be a time consuming and complicated process. Depending on the industry in which a company is applying for a BOI promotion, the SMART visa could be an option while awaiting their BOI promotion and applying for a visa and work permit through their company.

Long-Term Stability: The SMART Visa offers extended validity periods, with a maximum stay of four years. This provides foreign business personnel and investors with greater stability.

Overall, Thailand’s SMART Visa program serves as a valuable tool for foreign businesses and investors. It simplifies visa procedures, facilitates talent acquisition, and promotes a more business-friendly environment for international participation in Thailand’s economy.

Our Thoughts

The Thailand SMART Visa is a specialized visa designed to attract highly-skilled foreign workers, investors, executives, and startup entrepreneurs to support the country’s targeted industries. Eligible individuals can enjoy various benefits not available with other types of visas. To apply for this Visa, applicants must meet specific eligibility criteria and provide the necessary documentation. The application process involves verification and endorsement by relevant agencies in Thailand. Once approved, the Visa can be issued for a period of one to four years. It is also possible to extend the visa by re-applying for qualification endorsement and submitting the extension application.

Thailand has established itself as a leading destination for eligible foreigners seeking travel, work visa opportunities, and business ventures. To embrace this position and continue to attract high value individuals, the Long-Term Resident Visa (LTR Visa) for Highly Skilled Professionals and economic and investment stimulus measures were introduced by the Board of Investment (BOI). Through this LTR visa program, Thailand aims to attract skilled international professionals and individuals possessing expertise in specially targeted industries, with the goal of driving and developing the Thai economy.

This visa offers special benefits, including a 10-year Thailand Visa validity period, catering specifically to this demographic.

Key Points

• The LTR Visa is aimed at attracting and retaining highly skilled foreign professionals and other foreigners in specific industries identified by the Thai government, such as automotive, electronics, tourism, aviation, and digital, which are key sectors targeted with economic and investment stimulus measures.
• Eligibility requirements include a bachelor’s degree or higher, at least 5 years of work experience in a highly skilled field, an annual income of at least $80,000 for the past two years, and a job offer from a Thai company in an approved industry.
• Key benefits of the LTR Visa include a 10-year validity, ability to live and work in Thailand without yearly renewals, eligibility for a 17% flat personal income tax rate, and the ability to bring spouse and children as dependents.
• Applicants must obtain a Qualification Endorsement Letter (QEL) from the Board of Investment (BOI) as a mandatory step in the application process, which can take several months and requires extensive documentation.

What is the LTR Visa for Highly Skilled Professionals?

The LTR (Long-Term Resident) visa for highly skilled professionals is a visa category introduced to attract and retain highly skilled foreign workers in specific professions or industries where there is a talent shortage, promoting economic growth and innovation in Thailand.

What is the Difference Between the LTR for Highly Skilled Professionals and the LTR for Working from Thailand?

The LTR (Long-Term Resident) visa in Thailand offers two main categories for foreign working professionals seeking long-term residency in Thailand: the LTR for Highly Skilled Professionals and the LTR for Working from Thailand.

The main differences between both these visas lies in the purpose of the visa:

LTR for Highly Skilled Professionals

This category is designed for highly skilled foreign experts, professionals, investors, and retirees who can contribute to Thailand’s economic and social development.

LTR for Working from Thailand

This category is intended for eligible foreigners who want to work remotely for their overseas employer or operate their own business while residing in Thailand.

What are the Eligibility Requirements for the Long-Term Residency Visa for Highly Skilled Professionals?

To qualify for the LTR Visa for highly skilled professionals, applicants must satisfy the following criteria:

• have a bachelor’s degree or higher from an accredited university.
• have at least five years of work experience in a highly skilled field.
• have an annual income of at least USD 80,000 for the past two years.
• have a valid job offer from a Thai company.
• work in a specific industry as approved by the Board of Investment (BOI).
• Have valid health insurance (coverage for hospitalisation treatment of no less than 50,000 USD and the remaining period of no less than 10 months from the date application for the LTR process OR, Evidence showing valid Social Security benefits which insures hospitalisation treatment in Thailand.

Which Industries Must the Applicant of a LTR Visa for Highly Skilled Professionals Work in?

Applicants of the Long-Term Residency Visa for Highly Skilled Professionals must also work in a specific industry as approved by the Board of Investment (BOI), which is in line with Thailand’s economic and investment stimulus measures. The industries approved by the BOI are considered strategic industries that the government has identified as having the potential for rapid growth and high-value creation to drive Thailand’s economic transformation. 

With this in mind, the BOI required applicants with have obtained specialised skills in the following 15 highly skilled professional fields in order to be eligible to apply for the LTR based on being a highly skilled professional:

• High-generation Automotive Industry
• Smart Electronics Industry
• Affluent Tourism Industry
• Aviation Industry
• Biofuels and Biochemicals industry
• Digital Industry
• Agricultural and Biotechnology Industry
• Transportation and Logistics Industry
• Automation and Robotics Industry
• Medical Industry
• Defense Industry
• Petrochemical and chemical industry
• Industrial Business Center (IBC)
• Industries that directly support the circular economy, such as waste fuel production and water resource management
• Other industries requiring specialised skills in a particular area, such as:
  • Researchers in target industries or technologies
  • Experts in artificial intelligence (AI), digital systems, finance, environment and energy, start-up incubation projects, and trade and investment promotion organisations from abroad
• Human Resource Development/Research and Development for targeted industries.

What are the Benefits of the Long-Term Residency Visa for Highly Skilled Professionals?

The Long-Term Resident Visa category  for highly skilled professionals 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 and work in Thailand without having to renew their visa every year.
• Highly skilled professionals can apply for a fixed rate of 17% for personal income tax.
• 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 your spouse and children on dependent visas.
• The ability to start your own business.

Please note that holders of the LTR for Highly Skilled Professionals ARE NOT eligible for the Tax exemption for overseas income.

What Documents are Required when Applying for LTR Based on Being a Highly Skilled Professional?

When applying for an LTR visa based on being a Highly Skilled Professional, applicants must be able to provide the following documentation.

Evidence of Income and/or Investment

Applicants must be able to provide evidence that they have earned USD 80,000/ a year for 2 consecutive years. It is important to note that the financial obligations can be satisfied using both active and passive income. 

Examples of accepted forms of evidence include:

• Personal income tax returns,
• Bank statements obtained from your bank
• Pay slips from your employer
• Documents showing income earned from passive income such as interests, dividends, royalties or rental income etc.

Education Certificate

The LTR Visa for Highly Skilled Professionals is dependent on the applicant having the required education and experience levels, therefore this section is particularly important. Applicants must be able to provide the following documents:

• Master Degree from a field that appears on the BOIs list of target industries. In the event that the education certificate is not from a field that is on the list of LTR target industries the applicant will need to have or obtain a  training certificate that shows they are in possession of the skills relevant to targeted industions. 
• The education certificate must be translated in either Thai or English and legalised by the Embassy or Government of the applicant

Employment Certificate 

Applicants must be able to provide an employee certificate from their current employer. This certificate must state that their qualifications and skills are relevant to the LTRs targeted

industries and the applicant has at least 5 years of valid experience.

Work Experience Certificate 

A work experience certificate will be required from the applicant’s previous employer(s). 

Work experience certificates are required from the past 10 years to the present.

Employment Contract

A current employment contract with the employer that has been signed by the applicant and the authoriser. This contract must state: 

• the start and end date of the contract, 
• salary, 
• position and 
• job description.

Company Documents

The following documents are required from the Company who employs the applicants:

• company affidavit, 
• business licence(s), 
• shareholders list, 
• The audited financial statements of the company for the latest financial year,
• company profile and brochure.

What is the Application Process for the LTR Visa for Highly Skilled Professionals?

The first step for applying for the LTR for highly skilled professionals, the first step is to obtain a Qualification Endorsement Letter (QEL) from the Board of Investment (BOI). The QEL is a mandatory document for the LTR visa application process, as it serves as a formal endorsement of eligibility for the LTR visa program under this category.

To obtain a QEL, applicants must submit an application form and supporting documentation, including their resume, diploma, and employment certificate(s). Once the QEL is granted, it remains valid for 60 days from the date of issuance.

With a valid QEL, applicants can apply for the LTR Visa at a Thai embassy or consulate overseas, or at an immigration office in Thailand. It is advisable to start the application process early, as it can take several months to complete. Ensuring that all required documentation is prepared in advance will help expedite the process. Applicants should also be prepared to answer questions about their work experience and skills, as the BOI may request additional information during the application process.

Once a QEL has been obtained, the application process is as follows:

Application Submission

Applicants are required to register and submit online an application for the qualification endorsement. This will require the applicant to upload all required supporting documents.

Qualifications Endorsement

After the BOI has received all the required documents, the application will be registered and sent for the qualifications endorsement by the relevant government agencies (such as Immigration, Thailand’s Board of Investment, Department of Consular Affairs, etc.). 

Applicants will be notified of the result for the qualifications endorsement within 20 working days. Please note that the processing time may take longer if additional documents are required by any of the reviewing agencies.

Please also note that any decision made by the government agency regarding the LTR Visa qualification endorsement result is considered final and binding.

Visa Issuance

Once the application and qualification endorsement has been approved, applicants will be required to submit additional information and documents for the pre-approval process, which takes 1-3 working days (processing time might take longer if additional documents are requested). 

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.

Work Permit Issuance

Please note, Work permits are not required for Work-From-Thailand Professionals holders.

In order to ensure the application process is as smooth and efficient as possible our immigration experts suggest the following tips:

• Start the application process early. Applying for an LTR is a time consuming process and the application process can take several months. It is important to start the process early to avoid any delays.
• Make sure that you have prepared all of the required documentation and ensure it contains the correct information. In practice, errors in the paperwork and not providing the correct info is the leading cause of delays to the process. 
• Be prepared to answer questions about your work experience and skills. The BOI will often ask follow-up questions or for more information from you as part of the application process.
• Be patient. 

Can Holders of the LTR for Highly Skilled Professionals Bring Their Family as Dependents?

Applicants of the LTR for Highly Skilled Professionals are also permitted to bring up to 4 family members to Thailand as a dependent of their LTR Visa. 

Permitted family members include children under the age of 20 and spouses. Such dependents must be legal family members through marriage, birth, or adoption. Please note, that currently, common law and same-sex marriages are not recognized and therefore unfortunately, spouses in such relationships are not eligible as dependents.

In order for the dependents to be able to join the holder of the LTR visa, the following must be satisfied:

• Each dependent must have health Insurance with a coverage of at least $25,000.
• Only children under 20 are only considered as dependents. 
• The main applicant will also have to provide additional documents as proof of their dependent’s relationship to them (e.g. marriage or birth certificate).

Our Thoughts

The Long Term Residency Visa for Highly Skilled Professionals offers several benefits to foreigners, including living and working in Thailand with a 10 year visa, tax incentives and access to a Digital Work Permit. The LTR removes many barriers, which can often be problematic for many people and makes living and working much more comfortable for the holders of the LTR.

Please note that the Long-Term Resident (LTR) application is time-consuming and requires numerous documents/information from the BOI. There will often be times when applicants receive contradictory feedback from the Board of Investment (BOI) officers. Our experts have accumulated a lot of experience when applying for an LTR visa and are available to assist you with your application to help make the process as smooth as possible. 

In an effort to attract highly skilled foreign talent and drive economic growth, the Thai government has recently approved a groundbreaking new visa program for the Eastern Economic Corridor (EEC) Region. This new initiative aims to transform the EEC into a hub of innovation, technology, and sustainable development, cementing Thailand’s position as a regional economic powerhouse.

Key Points

• The Thai government has approved a new 10-year EEC Visa to attract highly skilled foreign talent to the Eastern Economic Corridor (EEC) region.
• The EEC Visa has four categories: Specialists (S), Executives (E), Professionals (P), and Spouses/Dependents (O).
• Key benefits of the EEC Visa include extended validity up to 10 years, flexible entry/exit, expedited processing, automatic work permit, and favourable 17% flat tax rate.
• The EEC aims to develop targeted industries like next-gen automotive, intelligent electronics, advanced agriculture/biotech, biofuels/biochemicals, digital economy, and medical/wellness tourism.
• Thailand’s strategic location and improved EEC infrastructure like high-speed rail, enhanced logistics, and connectivity make it an attractive investment destination.

What is the EEC?

The Eastern Economic Corridor (EEC) is a special economic zone spanning three eastern provinces of Thailand – Chachoengsao, Chonburi, and Rayong. The EEC forms a cornerstone of the country’s “Thailand 4.0″ economic model”, which seeks to transition the nation into a high-tech, value-based economy. The EEC’s strategic location, coupled with its focus on targeted industries, has made it an attractive destination for both domestic and foreign investment.

For more information, please see here.

What is the EEC Visa?

To further increase the EEC’s appeal, the Thai government has approved a new 10-year visa specifically designed for executives, specialists, and professionals working within the corridor. This visa program, which will be available from January 1, 2024, offers a range of unprecedented benefits to attract and retain top global talent.

Visa Categories and Eligibility

The EEC visa is divided into four distinct categories:

EEC Visa “S” (Specialists): Targeted at highly skilled individuals with expertise in fields critical to the EEC’s development, such as advanced manufacturing, digital technology, and sustainable energy.

EEC Visa “E” (Executives): Designed for senior-level managers and decision-makers driving the growth and strategic direction of businesses within the EEC.

EEC Visa “P” (Professionals): Catering to a wide range of professionals, from engineers and researchers to medical experts and financial analysts, who contribute to the EEC’s diverse ecosystem.

EEC Visa “O” (Spouses and Dependents): Allowing the family members of EEC visa holders to accompany them and enjoy the benefits of the program.

What are the Benefits of the EEC Visa?

The EEC visa offers an array of unparalleled benefits to attract and retain top global talent:

Extended Validity

The visa is valid for up to 10 years, aligning with the duration of the holder’s employment contract, providing long-term stability and security.

Flexible Entry and Exit

EEC visa holders can enter and exit Thailand multiple times without restriction, ensuring seamless business operations and personal travel.

Expedited Processing

A dedicated fast-track channel at Thailand’s international airports streamlines the entry process for EEC visa holders.

Automatic Work Permit

EC visa holders are automatically granted a work permit, eliminating the need for separate applications.

Favourable Tax Rates

Specialists and professionals residing and working within the EEC can benefit from a flat personal income tax rate of 17%, a significant reduction from the current maximum rate of 35%.

Online Reporting

EEC visa holders can conveniently manage their visa status and report their activities through an online platform, simplifying administrative tasks.

What Types of Business Activities can Operate in the EEC?

The introduction of the EEC visa is a strategic move by the Thai government to bolster investment and drive innovation within the corridor. By attracting a pool of highly skilled global talent, the EEC can leverage their expertise to accelerate the development of targeted industries, including:

Next-Generation Automotive

Embracing the global shift towards electric, autonomous, and connected vehicles.

Intelligent Electronics

Promoting advancements in smart devices, robotics, and automation.

Advanced Agriculture and Biotechnology

Harnessing cutting-edge technologies to enhance food production and sustainability.

Biofuels and Biochemicals

Developing renewable energy sources and eco-friendly materials.

Digital Economy

Spearheading the growth of fintech, e-commerce, and data-driven industries.

Medical and Wellness Tourism

Leveraging Thailand’s renowned healthcare and wellness services.

Why is the EEC an attractive Option for Foreign Investors?

One of the key advantages of the Eastern Economic Corridor is its strategic location in the heart of Southeast Asia. Thailand’s central position, bordered by Myanmar, Lao People’s Democratic Republic (Lao PDR), and Cambodia, provides unique opportunities for trade and investment. Laem Chabang port, the gateway to landlocked Lao PDR, serves as a significant trade hub within the EEC. By improving transport infrastructure and connectivity within the EEC, Thailand aims to enhance regional trade and strengthen economic ties with neighbouring countries.

The EEC has also focused significant attention on the development of advanced infrastructure. Thailand has embarked on an ambitious plan to enhance logistics and transportation systems within the EEC. High-speed trains will connect three international airports, namely Don Mueang, Suvarnabhumi, and U-Tapao, allowing easy connectivity and the efficient movement of goods and people. Additionally, double-track railways will link Laem Chabang port to Map Ta Phut and Sattahip Commercial Port, while the construction of a motorway from Bangkok to Rayong aims to reduce travel time and costs.

Our Thoughts

The EEC visa is a key component of the Thai government’s broader strategy to transform the Eastern Economic Corridor into a world-class hub of innovation, technology, and sustainable development. By attracting global talent, the EEC can take advantage of their expertise to drive its key industries, bolster the region’s competitiveness, and position Thailand as a leading destination for foreign investment.

The new 10-year EEC Visa presents a compelling opportunity for eligible businesses by offering a unique combination of benefits that attract and retain top global talent, promote an environment to drive and develop innovation and technological advancement. 

With attractive incentives such as 10-year validity, automatic work permits, and a favourable 17% flat tax rate, businesses can attract a highly skilled workforce to take advantage of the benefits on offer from the EEC.

Thailand’s Long-Term Resident (LTR) Visa or also Thailand investment visa program presents a highly attractive opportunity for affluent foreigners and investors seeking extended residency in Southeast Asia through a streamlined investment visa application process. Specifically designed to attract high-net-worth retirees, the LTR Visa offers a streamlined application process, extended validity periods (10 years) and other impressive benefits not available to traditional retirement visas.

In this blog post we will explain the eligibility requirements, documentation needed, and the visa application process for obtaining a non-immigrant investment visa.

Key Points

• The LTR Visa allows wealthy pensioners to live and work in Thailand for 10 years, provided they meet specific financial requirements laid out in the visa policies; 
• Applicants must be aged 50 years or older;
• Applicants must have either a minimum passive income of $80,000 per year for the past 2 years, or a passive income of $40,000 per year plus an investment of at least $250,000 in Thailand to qualify for the investment visa.
• Benefits include a 10-year visa, tax exemption on overseas income, fast-track immigration and work permit services, ability to start a business and bring dependents.
• LTR holders under the Wealthy Pensioner category(and their dependents) are eligible to apply for work permits. These work permits will only be issued for employment with Thai companies in Thailand only.
• Required documents include proof of income, investment, health insurance coverage of at least $50,000, and biographical information.
• Approved applicants can bring up to four family members (spouse and children under 20) as dependents subject to additional requirements, which may involve financial transactions registered with a Thai bank.

What is the Thailand Investment Visa for Wealthy Pensioners?

Thailand, a nation known for its bustling expat and retirement community, has set its sights on attracting affluent foreign retirees through the Wealthy Pensioner category of the Long-Term Resident (LTR) Visa program. Thailand hopes to attract high-net-worth foreigners seeking a secure long-term residency in Thailand through its non-immigrant visa programs. By offering a streamlined application process, extended visa validity, and potential tax advantages. 

Thailand hopes that attracting affluent retirees and investors will help contribute significantly to a nation’s economy through property purchases, fixed deposit account investments with a Thai bank, local business investments, and sustained spending. The LTR program seeks to attract these high-value residents, thereby boosting domestic spending and potentially stimulating investment in key sectors. By simplifying the residency process for affluent individuals, Thailand aims to establish itself as the first choice destination for retirees seeking a high quality of life.

Moreover, some applicants might prefer the assured stability that comes with investing in state enterprise bonds. These bonds are generally lower risk and offer a dependable return, aligning well with the financial prudence expected of investors under the LTR visa program. Not only do they help applicants fulfill the visa’s investment criteria, but they also support the financial infrastructures of key public sectors.

What are the Eligibility Requirements for the Long-Term Residency Visa for Wealthy Pensioners?

The eligibility requirements for the LTR visa for Wealthy Pensioners is as follows:

• Applicants must be aged at least 50 years old.
• Have a minimum average passive income of USD 80,000 / year in the past two years.
• If the applicant doesn’t have a passive income of USD 80,000 / year over the past 2 years, then they must:
  • Have a had a passive income of USD 40,000 / year over the past 2 years +
  • Investment in Thailand of at least USD 250,000
• Investment in Thailand can be in the form of Thai government bonds OR fixed deposit account investments OR direct investment in companies registered in Thailand OR Thai property of at least USD 250,000, allowing investors various options to meet the visa requirements.
• 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 Pensioners?

The Long-Term Resident Visa category for wealthy pensioners offers many advantages to help facilitate living 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.
• Ability to obtain a work permit for employment with a Thai company. LTR visa holders are not subject to the 4:1 employment ratio and minimum capital requirements.

Please note that holders of the LTR for wealthy Pensioners 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 Pensioner?

When applying for an LTR visa based on being a wealthy pensioner, applicants must be able to provide the following documentation.If you are in the market for clothes, our platform is your best choice! The largest shopping mall!

Evidence of Income and/or Investment

Applicants must be able to provide evidence that they can satisfy either of the following eligibility requirements.

• Have a minimum average passive income of USD 80,000 / year in the past two years.
• If the applicant doesn’t have a passive income of USD 80,000 / year over the past 2 years, then they must:
  • Have a had a passive income of USD 40,000 / year over the past 2 years +
  • Investment in Thailand of at least USD 250,000

Applicants who have earned a passive income of USD 80,000 over the past 2 years must be able to provide evidence of the following:

• Earned USD 80,000/ a 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.
  • Examples of accepted forms of evidence include:
    • Personal income tax returns,
    • Bank statements obtained from your bank
    • Documents showing income earned from passive income such as income such as interests, royalties or rental incomes etc.

For applicants who have not earned a passive income of at least 80,000/ a year for 2 consecutive years, the following evidence will be required.

• Earned a passive income of USD 40,000 / year over the past 2 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.
  • Examples of accepted forms of evidence include:
    • Personal income tax returns,
    • Bank statements obtained from your bank
    • Documents showing income earned from passive income such as income such as interests, royalties or rental incomes etc.

• Made an investment in Thailand of at least 250,000 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.

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 Pensioners?

The application process for the LTR visa for Wealthy Pensioners requires completing the following stages:

Application Submission

Applicants are required to register and submit an online visa application for the qualification endorsement. This will require the applicant to upload all required supporting documents.

Qualifications Endorsement

After the BOI has received all the required documents, the application will be registered and sent for the qualifications endorsement by the relevant government agencies (such as Immigration, Thailand’s Board of Investment, Department of Consular Affairs, etc.). 

Applicants will be notified of the result for the qualifications endorsement within 20 working days. Please note that the processing time may take longer if additional documents are required by any of the reviewing agencies.

Please also note that any decision made by the government agency regarding the LTR Visa qualification endorsement result is considered final and binding.

Visa Issuance

Once the application and qualification endorsement has been approved, applicants will be required to submit additional information and documents for the pre-approval process, which takes 1-3 working days (processing time might take longer if additional documents are requested). 

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.

Work Permit Issuance

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.

Please note, Work permits are not required for Work-From-Thailand Professionals holders.

Can Holders of the LTR for Wealthy Pensioners Bring Their Family as Dependents?

Applicants of the LTR for Wealthy Pensioners are also permitted to bring up to 4 family members to Thailand as a dependent of their LTR Visa. 

Permitted family members include children under the age of 20 and spouses. Such dependents must be legal family members through marriage, birth, or adoption. Please note, that currently, common law and same-sex marriages are not recognized and therefore unfortunately, spouses in such relationships are not eligible as dependents.

In order for the dependents to be able to join the holder of the LTR visa, the following must be satisfied:

• Each dependent must have health Insurance with a coverage of at least $25,000.
• Only children under 20 are only considered as dependents. 
• The main applicant will also have to provide additional documents as proof of their dependent’s relationship to them (e.g. marriage or birth certificate).

Our Thoughts

The LTR Visa for Wealthy Pensioners, a type of non-immigrant visa, presents an excellent opportunity for affluent retirees aged 50 and over to enjoy an elevated quality of life in Thailand. With its attractive financial requirements, this visa allows pensioners with sufficient passive income or investment funds to reside long-term in Thailand while benefiting from a generous range of privileges.

One of the key advantages is the 10-year visa validity, removing the hassle of frequent visa renewals. The LTR visa provides greater convenience and stability. Additionally, the tax exemption on overseas income is a significant advantage, allowing pensioners to maximise their retirement funds.

FAQ

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.

Key Points

• 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.

Evidence of Income and/or Investment

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.
  • Examples of accepted forms of evidence include:
    • Personal income tax returns,
    • Bank statements obtained from your bank
    • Pay slips from your employer
    • 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:

Application Submission

Applicants are required to register and submit online an application for the qualification endorsement. This will require the applicant to upload all required supporting documents.

Qualifications Endorsement

After the BOI has received all the required documents, the application will be registered and sent for the qualifications endorsement by the relevant government agencies (such as Immigration, Thailand’s Board of Investment, Department of Consular Affairs, etc.). 

Applicants will be notified of the result for the qualifications endorsement within 20 working days. Please note that the processing time may take longer if additional documents are required by any of the reviewing agencies.

Please also note that any decision made by the government agency regarding the LTR Visa qualification endorsement result is considered final and binding.

Visa Issuance

Once the application and qualification endorsement has been approved, applicants will be required to submit additional information and documents for the pre-approval process, which takes 1-3 working days (processing time might take longer if additional documents are requested). 

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.

Work Permit Issuance

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.

Please note, Work permits are not required for Work-From-Thailand Professionals holders.

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. 

Permitted family members include children under the age of 20 and spouses. Such dependents must be legal family members through marriage, birth, or adoption. Please note, that currently, common law and same-sex marriages are not recognized and therefore unfortunately, spouses in such relationships are not eligible as dependents.

In order for the dependents to be able to join the holder of the LTR visa, the following must be satisfied:

• Each dependent must have health Insurance with a coverage of at least $25,000.
• Only children under 20 are only considered as dependents. 
• The main applicant will also have to provide additional documents as proof of their dependent’s relationship to them (e.g. marriage or birth certificate).

Our Thoughts

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.

The Long-Term Resident (LTR) visa program was introduced as a way to attract and retain high-potential individuals. This visa offers a package of tax and non-tax incentives, along with the necessary work permit, that cater to the needs of professionals, digital nomad communities, and remote workers willing to relocate in Thailand, including those seeking a digital nomad visa. 

This blog post will explore the LTR visa for Work from Thailand Professionals in detail, outlining the eligibility criteria, benefits, and application process. Whether you’re considering relocating to Thailand as a digital nomad or expanding your professional opportunities, this guide will provide you with the necessary information to make an informed decision.

Key Points

• The LTR visa, similar to a digital nomad visa, allows skilled professionals employed by well-established overseas companies to work and live in Thailand for 10 years without traditional work permit requirements.
• Applicants must meet minimum income, education, employer criteria, relevant work experience, possess a valid work permit, and health insurance requirements to be eligible.
• Key benefits include 10-year visa validity, tax exemption on overseas income, access to One Stop Service Center, and dependent visas for family members.
• Applicants must first obtain a Qualification Endorsement Letter (QEL) from the Board of Investment (BOI) before applying for the LTR visa.

What is the LTR Visa for Work from Thailand Professionals?

The LTR visa for Work from Thailand Professionals is specifically designed to attract remote workers and the modern digital nomad employed by well-established overseas companies to Thailand. This visa allows skilled professionals and digital nomads to work and live in Thailand without the visa and work permit requirements associated with traditional employment. By removing these burdens, the LTR visa enables holders to easily establish themselves in Thailand.

What is the Difference Between the LTR for Highly Skilled Professionals and the LTR for Working from Thailand?

The LTR (Long-Term Resident) visa in Thailand offers two main categories for foreign working professionals seeking long-term residency in Thailand: the LTR for Highly Skilled Professionals and the LTR for Working from Thailand. 

The main differences between both these visas lies in the purpose of the visa:

LTR for Highly Skilled Professionals

This category is designed for highly skilled foreign experts, professionals, investors, and retirees who can contribute to Thailand’s economic and social development.

LTR for Working from Thailand

This category is intended for foreign nationals who want to work remotely for their overseas employer or operate their own business while residing in Thailand.

What are the Eligibility Requirements for the Long-Term Residency Visa for Work From Thailand Professionals?

To be eligible for the LTR visa as a Work from Thailand Professional, applicants must meet the following criteria:

Minimum Income Requirement

Applicants must have earned a personal income of at least $80,000 per year over the past 2 years. 

If the applicant’s personal income has been lower than $80,000 but no lower than $40,000 per year over the past 2 years, the applicant is required to:

• Have a master’s or higher degree.
• Own their own intellectual property 
• Receive a Series A funding (must not be less than $1 million).

Education Requirement

Applicants are required to have a master degree and/or own intellectual property, or have received Series A funding of at least $1 million.

Employer Criteria

The applicant’s current employer must be a public company listed on a stock exchange outside Thailand, or a private company that has been operating abroad for at least 3 years and earned a revenue of at least $150 million over the past consecutive 3 years.

Relevant Working Experience

The applicant must have at least 5 years of relevant working experience directly applicable to their field of current employment. This experience should have been acquired within the past 10 years.

Health Insurance Requirement

Applicants are required to have a health insurance package with a minimum coverage of $50,000, valid for at least 10 months. Alternatively, applicants can meet the requirement by having a social security package that covers medical treatment in Thailand or a cash deposit of at least $100,000 (or equivalent in other currencies) in Thailand or abroad for at least 12 months prior to the application.

It is important to note that all currency mentioned is denoted in United States Dollars (USD), although applicants can use other currencies when applying as long as the sum is equivalent to the USD value.

What are the Benefits of the Long-Term Residency Visa for Work from Thailand Professionals?

The LTR visa for Work from Thailand Professionals offers several benefits, making it an attractive option for skilled professionals and remote workers. Here are some of the key benefits:

10-Year Validity

The LTR visa provides a 10-year visa that allows professionals to live and work in Thailand without the need for visa renewals.

Tax Exemption

Holders of the LTR visa are eligible for tax exemption on overseas income and a work permit, providing significant financial advantages. Please note, the holders of a Work from Thailand LTR visa are not eligible for the 17% personal Income Tax Rate in Thailand, this is only available to LTR visa holders who applied under the Highly Skilled Professionals route.

One Stop Service Center

Professionals with the LTR visa can apply for immigration and work permit services at the One Stop Service Center, saving time and streamlining the process.

Dependent Visas

LTR visa holders can bring their spouse and children to Thailand on dependent visas, allowing their families to join them in their new home.

Please note, holders of the LTR visa for Working from Thailand, including remote workers, do not require a work permit as permission for staying in Thailand and undertaking remote work for an overseas company has already been granted.

What Documents are Required when Applying for LTR Based on Being a Highly Skilled Professional?

When applying for an LTR visa based on Working from Thailand, applicants must be able to provide the following documentation.

Evidence of Income and/or Investment

Applicants must be able to provide evidence that they have earned USD 80,000 a year for 2 consecutive years. It is important to note that the financial obligations can be satisfied using both active and passive income. 

Examples of accepted forms of evidence include:

• Personal income tax returns,
• Bank statements obtained from your bank (showing a deposit no less than USD 100,000 which has been held no less than 12 months from the date of LTR application.)
• Pay slips from your employer
• Documents showing income earned from passive income such as interests, dividends, royalties or rental income etc.

Education Certificate

Applicant must provide the following education certificates:

A. Master Degree or higher

B. Bachelor degree

Please note, if the documents are not English Must be in or a notarized translation into English or Thai language only.

Should the applicant not have a Masters degree, they must be able to provice evidence of a full and complete intellectual property ownership e.g. patents

Work Experience Certificate

Applicants must provide a certificate from their current employers stating that the applicant has been working in the related field for no less than 5 years of the past 10 years. 

The certificate must also state:

• The date the applicant started working,
• Contract end date, 
• Position,
• Scope of company and,
• Authorised signature from the company.

Employment Contract

A current employment contract with the employer that has been signed by the applicant and the authorizer. This contract must state: 

• the start and end date of the contract, 
• salary, 
• position and 
• job description.

Assignment/appointment letter 

An assignment/appointment letter will be required to appoint applicants as eligible for remote working in Thailand. The certificate must be authorised and signed by the company and state following:

• the applicants current position, 
• termination date of employment (if any) and
• permission for the applicant to work remotely from Thailand

Company Documents

The following documents are required from the Company who employs the applicants:

• Company affidavit, 
• business licence(s), 
• shareholders list, 
• The audited financial statements of the company for the latest financial year, or financial report showing the company’s revenue of more than 150 million USD in the last 3 years OR evidence of being listed on a stock exchange.
• company profile and brochure.

What is the Application Process for the LTR Visa for Highly Skilled Professionals?

To apply for the LTR as a Work from Thailand Professional, the first step is to obtain a Qualification Endorsement Letter (QEL) from the Board of Investment (BOI). The QEL is a mandatory document for the LTR visa application process, as it serves as a formal endorsement of eligibility for the LTR visa program under this category.

To obtain a QEL, applicants must submit an application form and supporting documentation, including their resume, diploma, and employment certificate(s). Once the QEL is granted, it remains valid for 60 days from the date of issuance.

With a valid QEL, applicants can apply for the LTR Visa at a Thai embassy or consulate overseas, or at an immigration office in Thailand. It is advisable to start the application process early, as it can take several months to complete. Ensuring that all required documentation is prepared in advance will help expedite the process. Applicants should also be prepared to answer questions about their work experience and skills, as the BOI may request additional information during the application process.

Once a QEL has been obtained the application process for the LTR visa for Work From Thailand Professional requires completing the following stages:

Application Submission

Applicants are required to register and submit online an application for the qualification endorsement. This will require the applicant to upload all required supporting documents.

Qualifications Endorsement

After the BOI has received all the required documents, the application will be registered and sent for the qualifications endorsement by the relevant government agencies (such as Immigration, Thailand’s Board of Investment, Department of Consular Affairs, etc.). 

Applicants will be notified of the result for the qualifications endorsement within 20 working days. Please note that the processing time may take longer if additional documents are required by any of the reviewing agencies.

Please also note that any decision made by the government agency regarding the LTR Visa qualification endorsement result is considered final and binding.

Visa Issuance

Once the application and qualification endorsement has been approved, applicants will be required to submit additional information and documents for the pre-approval process, which takes 1-3 working days (processing time might take longer if additional documents are requested). 

Can Holders of the LTR for Work from Thailand Professionals Bring Their Family as Dependents?

Applicants of the LTR for Work from Thailand Professional are also permitted to bring up to 4 family members to Thailand as a dependent of their LTR Visa. 

Permitted family members include children under the age of 20 and spouses. Such dependents must be legal family members through marriage, birth, or adoption. Please note, that currently, common law and same-sex marriages are not recognized and therefore unfortunately, spouses in such relationships are not eligible as dependents.

In order for the dependents to be able to join the holder of the LTR visa, the following must be satisfied:

• Each dependent must have health Insurance with a coverage of at least $25,000.
• Only children under 20 are only considered as dependents. 
• The main applicant will also have to provide additional documents as proof of their dependent’s relationship to them (e.g. marriage or birth certificate).

Our Thoughts

The LTR visa for Work from Thailand Professionals offers a comprehensive range of benefits and a streamlined application process, making it an excellent choice for skilled professionals seeking a long-term career in Thailand. The tax advantages, extended visa validity, and access to a Digital Work Permit provide professionals with unique opportunities to thrive in Thailand’s vibrant business environment. However, it is important to note that the application process can be lengthy and may require additional documentation or information. Our team of experts is available to assist you throughout the application process, ensuring a smooth and successful experience.