Thailand updates long-term resident visa program to attract global talent and investment

The Thailand Board of Investment (BOI) has announced updates to the Cabinet-approved long-term resident (LTR) visa program to attract more foreign talent, investors and executives. These changes are aimed at strengthening Thailand's global competitiveness and broadening its pool of skilled professionals.

Launched in September 2022, the LTR visa offers 10 years of residency, a digital work permit, tax benefits and other privileges. The program targets four main groups: highly skilled professionals, professionals working from Thailand, wealthy global citizens and wealthy pensioners.

Key updates to the LTR program

Expanded target areas for skilled professionals
The list of eligible areas for highly skilled professionals now includes areas such as development, sustainability, disaster management and integrated innovation. Vocational and higher education teachers in various subjects are also eligible, promoting knowledge transfer and skill building for Thai students and professionals.

Removal of work experience requirement
Applicants for the categories of highly skilled professionals and professionals working from Thailand are no longer required to have five years of work experience. This change simplifies the process, making it easier for high-potential candidates to contribute to Thailand's target industries.

Eased criteria for remote professionals
The revenue requirement for foreign employers supporting applicants working from Thailand has been reduced from USD 150 million to USD 50 million over three years.
Employees of subsidiaries of multinational corporations can now apply using the parent company's financial records instead of subsidiary statements. These adjustments are aimed at attracting more digital and tech experts needed for Thailand's economic growth.

Changes for wealthy global citizens
The annual income requirement for this category has been removed, placing emphasis on applicants' net worth and investments in Thailand. This change is in line with the government's goal of encouraging more foreign investment.

Enhanced benefits for dependents
The rights of dependents have been expanded to include parents and legal dependents, with no limit on the number. This family-friendly approach makes Thailand a more attractive destination for professionals with families.

Growing interest in LTR visas

By the end of 2024, more than 6,000 LTR visas have been issued. European applicants lead the list with 2,500 visas, followed by the U.S. (1,080), Japan (610), China (340) and India (280).

These updates will take effect after official announcements are released by the BOI and the Ministry of the Interior. These changes highlight Thailand's commitment to fostering a skilled workforce and promoting foreign investment.

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