New type of visa in Thailand

As some of you may have noticed, there is a few of new types of visa coming in force in Thailand, starting September 2022. New visa types will extend the line of already existing visas, which we explained in previous article.

Long term visa (or LTR visa) is the attempt of Thai government to improve economic downturn, caused by Covid-19 pandemic. The goal is to attract more people with less demands and easier paperwork than usual visa, which had been used so far by majority of expats.

Long term resident visa

Long term resident Thai visa are targeting 4 major groups of different potential expats, willing to come to and live in Thailand for a longer time. Groups of expats entitled are:

Wealthy global citizens

Wealthy global citizen visa is focused on, briefly said, people, who will bring bigger amount of money and are willing to invest them in Thailand.To apply for Long term visa in wealthy global citizen category, you need to present a proof that you:

have and assets in Thailand or overseas in value at least of 1.000.000 USD
have personal income of at least 80.000 USD per year for the past two years
have investment in Thailand in amount of at least 500.000 USD in a) Thai government bonds, b) direct foreign investment in Thailand or c) property in Thailand
have health insurance policy of at least 50.000 USD covering treatment in Thailand or at least 100.000 USD for at least one year in foreign or Thai bank account

Wealthy pensioners

retiree above 50 years old with regular pension or income at least 80.000 USD per year, or
retiree above 50 years old with regular pension or income at least 40.000 USD per year and investment at least 250.000 USD in a) Thai government bonds, b) direct foreign investment in Thailand or c) property in Thailand
have health insurance policy of at least 50.000 USD covering treatment in Thailand or at least 100.000 USD for at least one year in foreign or Thai bank account

Work from Thailand professionals

have personal income of not less than 80.000 USD per year for the past 2 years
if personal income is less than 80.000 USD, but at least 40.000 USD per year for the last two years, applicant must present a) master's degree or above or b| own intellectual property
current employer has to be a company listed on a stock exchange, otherwise be a company with combined revenues of at least 150 million USD for the last three years
have health insurance policy of at least 50.000 USD covering treatment in Thailand or at least 100.000 USD for at least one year in foreign or Thai bank account

Highly skilled professionals

professionals or experts in “targeted industries” working for Thai business entities or foreign business entities assigning such individual to work in Thailand, or higher education institutes, research centers, or specialized training institutions in Thailand, or Thai government agencies
have personal income of at least USD 80,000 per year for the past two 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 in science and technology or expertise in fields relevant to the applicant’s employment in Thailand.
no minimum personal income is required for professionals working for higher education institutes, research centers, or specialized training institutions in Thailand, or Thai government agencies

The “targeted industries” currently include next generation automotive industry, smart electronics industry, quality tourism industry, agriculture and bio-technology industry, food processing industry with added value, robotics industry, aviation industry, biofuel and biochemical industries, digital industry, medical hub industry, national defense industry, industries that directly and significantly contribute to the circular economy (such as the production of fuel from waste, water resource management, etc.), human resource development and industrial research and development goals, and other targeted industries in accordance with the 20-year national strategy, as determined by the Committee on Policy for National Competitive Enhancement for Targeted Industries.

This is an Alert Information provided above may be subject to change. Various requirements from government may be added. Conditions are preliminary.