Thailand’s BOI launches new 10-year LTR visa for investors, highly skilled professionals, remote workers and wealthy retirees

BANGKOK, September 1, 2022 /PRNewswire/ — Today, the Thailand The Board of Investment (BOI) has started accepting applications for the new 10-year Long-Term Resident (LTR) visa which aims to attract investors, talent, remote workers and retirees to live, work or invest in Thailand.

Mr. Omri Morgenshtern, CEO, Agoda, Ms. Duangjai Asawachintachit, Corporate Secretary, Thailand Board of Investment (BOI), Mr. L. Chayotid Kridakorn, Thai Trade Representative, Ms. Vibeke Lyssand Leirvåg, President, Joint Foreign Chambers of Commerce in Thailand, Mr. Narit Therdsteerasukdi, Deputy Secretary General, BOI, and Mr. Natwut Amornvivat, Vice President, Digital Council of Thailand, are seen here, from left, in Bangkok, at the BOI’s launch event for the Resident Visa of long duration .

The LTR programme, which was approved by the Cabinet in September 2021also aims to further improve the ease of doing business in the country by addressing issues discussed with stakeholders, including foreign chambers of commerce and local industry groups.

“This represents a new approach to attracting more long-term residents to Thailand which will help stimulate the Thai economy by spending and investing in the country, as well as contributing to the transfer of professional skills to stimulate new industries such as electric vehicles, smart electronics and digital, and help to move Thailand to the next level,” Mr. L. Chayotid Kridakon, Thai Trade Representative and Advisor to the Prime Minister, told the business audience attending the LTR program launch event held yesterday in bangkok. “The LTR visa is an important part of the Better and Green Thailand 2030 program”,

“The LTR program is designed to further enhance the country’s attractiveness as a regional hub for living and doing business for high-potential people in targeted groups, to facilitate their entry and stay, and to provide them with a range of tax and non-tax benefits,” said Duangjai Asawachintachit, Secretary General of the BOI. “Facilitating the hiring of foreign talent will definitely improve the talent tool available in the country and create more transfer opportunities. of technology and knowledge to the Thai workforce.”

“If you look at the needs of investors, labor and skilled labor are extremely important,” said Ms. Vibeke Lyssand Leirvåg, President of the Joint Foreign Chambers of Commerce in Thailand (JFCCT). “The LTR comes at the right time.”

“If you bring the talent and the funds, you can create world-class technology in Thailand“, said Mr. Omri Morgenshtern, CEO of global digital travel platform Agoda, which operates a major technology hub in the country, with support from the BOI. “It’s part of the vision that the LTR is trying to achieve.”

“Our success really depends on people, and advanced ICT skills are very important. It’s a global thing, you can’t look Thailand only, so it is very important to bring these people in, and I think the LTR will be a game-changer,” said Mr. Natwut Amornvivat, Vice President of the Digital Council of Thailand.

A wide range of benefits

The four categories of individuals targeted by the LTR program are “Wealthy Global Citizens”, targeting investors, “Wealthy Retirees”, targeting retirees, “Work from Thailand Professionals”, targeting remote workers, and ” Highly Skilled Professionals, targeting talent and experts in key industries.

Successful candidates will enjoy a wide range of benefits, which will also extend to their families, namely:

  • 10-year renewable multiple-entry visa
  • Permission to work in Thailand (Digital work permit)
  • 17% Personal income tax rate (applied only to income derived from employment and/or direct benefits of employment) for major visa holders in the “highly skilled professionals” category
  • Overseas income tax exemption for the other three categories, “Wealthy Global Citizens”, “Wealthy Retirees” and “Work from Thailand Professionals”
  • Exemption from the employment ratio of 4 Thais to 1 foreigner
  • Extension of the 90-day report to a one-year report
  • Exemption from the re-entry permit requirement
  • Expedited service at international airports in Thailand
  • Immigration and work permit facilitation services at the One-Stop Visa and Work Permit Service Center operated by the BOI.

Thailand has long been a popular destination for foreign tourists and remote workers in addition to being a manufacturing hub for multinational corporations. There are countless reasons to live or work in Thailandincluding a strategic location with excellent connectivity to the rest of the region and beyond, delicious cuisine, excellent healthcare services, huge business opportunities, a business-friendly ecosystem and Thailand well-known culture and hospitality. So why not do Thailand your house? With the LTR visa, it will be easier than ever for foreigners to come, live and work or invest in Thailand“, Ms. Duangjai concluded.

Those interested in applying can visit ltr.boi.go.th or contact [email protected]

LTR Eligibility Criteria

1. Wealthy Global Citizens:

  • $1 million in assets
  • Income of 80,000 USD/year
  • Investment of US$500,000 in Thailand

2. Wealthy retirees:

  • At least 50 years old
  • Income of 80,000 USD/year
    Where
  • Income of 40,000 US$/year and investment of 250,000 US$ in Thailand

3. Professionals working from Thailand:

  • Work for qualified companies abroad
  • Income of 80,000 USD/year
    Where
  • Income of US$40,000/year and Masters degree or IP or Series A funding

4. Highly qualified professionals:

  • Income of 80,000 USD/year
    Where
  • Income of 40,000 US$ / year and a Master’s degree in S&T or proven expertise
  • Designated Industry Employers

For more information please contact:
Thailand investment advice
Such. +66 (0) 2553 8111
Website: www.boi.go.th
YouTube: think Asia, invest in Thailand

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