Thailand's cabinet is introducing a new visa called "Long-Term Resident" (LTR) which is granted for 10 years and is renewable. This visa aims to attract "high-potential" foreigners who want to stay long-term and contribute to economic growth in Thailand. This visa provides a range of tax and non-tax incentives and was launched to enhance Thailand's attractiveness in response to the Covid-19 pandemic. With this new scheme, the Thai government targets to attract 1 million foreign residents over the next 5 years.
Applications for LTR visa will open on 1st September 2022 but waiting for this day, the Thailand Board of Investment (BOI) is offering a pre-screening service online. This allows people interested in the LTR Visa to submit their documents to check if they are eligible for this visa and get feedback and recommendations by the BOI.
The LTR visa offers a wide range of advantages. First of all, all procedures related to the LTR Visa and the associated work permit (if any) take place at the One Stop Service Center in central Bangkok and not at Chaeng Wattana. In addition, the usual 90-day report is replaced by an annual report and LTR visa holders do not have to apply for a re-entry permit before leaving the country. They can freely leave and return to Thailand and their visa will still be valid. By the way, when traveling, LTR visa holders can use the FastTrack Service at Thailand's international airports.
In addition, holders of this visa have the possibility to work in Thailand. If they start their own business or are hired by a company in Thailand, it is not necessary to hire 4 Thais for 1 foreigner as usual. Finally, for highly skilled professionals, the personal income tax is lowered to a single rate of 17% instead of the progressive scale of 0 to 35%.
To be successful in obtaining the LTR visa, the applicant must fit into one of the categories below and submit the documents associated with that category:
In addition to the documents mentioned above, a letter of verification issued from the country of nationality or residence in the last 10 years stating that the applicant has no criminal record may be requested on a case-by-case basis. Also, if the applicant has changed his name and/or surname he has to submit a copy of the certificate.
If the applicant wishes to work in Thailand he has to provide additional details about the employer, the scope of work… If the applicant is already working in Thailand, he has to complete the employment certificate form (WP 46) and provide a copy of his work permit.
The process can be divided into 5 steps:
1- Application: register and submit an online application for qualification endorsement for LTR Visa with supporting documents.
2- Result: notification of the result within 20 working days after reception of the completed documents.
3- Issuance: apply for LTR Visa issuance at an overseas Royal Thai Embassy or Consulate or at an immigration office in Thailand within 60 days from the issuance date of the endorsement letter.
4- Pay: pay the processing fee for LTR Visa of THB 50,000 per person.
5- Collection: collection (if applicable) of the digital work permit at the One Stop Service Center. Pay the processing fee of THB 3,000 (this amount has to be paid each year to maintain the work permit).
Our team of visa specialists can support you with every step of the process of obtaining LTR visa(s) and work permit(s) for you personally (and your dependents) or for your employees if you are a company. We can assist you in all aspects of the process, from submitting your application to providing additional documents (if necessary) and renewing your work permit each year.