In more detail
On 13 January 2025, the Cabinet approved the proposal to amend the criteria, qualifications, and conditions for the LTR Visa program as proposed by the BOI.
Originally, the LTR Visa was issued to attract wealthy and skilled foreigners from four categories to reside in Thailand on a long-term basis, with the goal of drawing investment and specialized workers into Thailand. The recent updates to the LTR Visa requirements are designed to attract additional groups of foreign experts and investors to Thailand, thereby supporting economic growth and enhancing Thailand’s status as a global talent hub.
To recap, the LTR Visa is a specialized visa program administered by the BOI to facilitate the entry of qualified foreign experts and individuals under four categories into Thailand:
- Highly Skilled Professionals
- Work-from-Thailand Professionals
- Wealthy Global Citizens
- Wealthy Pensioners
This LTR Visa also offers a 10-year residence visa with multiple entry privileges, personal income tax incentives, and reduces the reporting requirements to the immigration authority from every 90 days to once a year.
The amendments to the current LTR Visa requirements include the following main changes:
| Categories |
Current Requirements |
New Amendments |
Highly Skilled Professionals
|
- Highly Skilled Professionals must provide proof of employment or service agreements with a business in Thailand or overseas that assign them to work in Thailand, or evidence of employment with specified institutions in Thailand, such as universities or government organizations within the targeted industries*.
*Targeted industries include, among others, new-generation automobiles, smart electronics, quality tourism, agriculture and biotechnology, high-value-added food processing, and robots.
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- Highly Skilled Professionals will also include those who will work as professors in universities or vocational schools.
|
- Highly Skilled Professionals must have at least five years of work experience in the targeted industries.
|
- Highly Skilled Professionals are no longer required to have at least five years of work experience.
|
|
Work-from-Thailand Professionals
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- Work-from-Thailand Professionals must have at least five years of work experience in the relevant fields.
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- Work-from-Thailand Professionals are no longer required to have at least five years of work experience.
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- The revenue requirements for overseas-based employers sponsoring applicants state that employers must either be companies listed on a stock exchange in any country or companies that have been in operation for at least three years, with combined revenue of at least USD 150 million over the past three years.
|
- The minimum revenue requirement for sponsoring companies has been reduced to USD 50 million over the past three years.
- This revenue can also come from the parent company, which holds all the shares in the sponsoring companies.
|
| Wealthy Global Citizens |
- Applicants are required to have an annual personal income of at least USD 80,000 over the last two years prior to the application date.
|
- The requirement of an annual personal income of at least USD 80,000 over the last two years prior to the application date has been replaced by a requirement for property ownership and long-term investments in Thailand, totaling at least USD 500,000.
|
| Dependents of the LTR Visa holders |
- Dependents of the LTR Visa holders shall include the legal spouse and children, who are aged 20 years or younger, with a maximum of four dependents per LTR Visa holder.
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- Dependents of the LTR Visa holders will now also include parents and legal dependents, with no maximum number per each LTR Visa holder.
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Notwithstanding the recent amendments, the requirement for obtaining a work permit to work in Thailand remains unchanged. In other words, if the LTR Visa holder wishes to legally work in Thailand, they will be required to obtain a separate work permit.
Additionally, due to the overlapping target groups between the LTR Visa and the Smart Visa programs ("SMART Visa"), the BOI has proposed discontinuing most applicant categories under the SMART Visa, except for the SMART-S Visa, which is tailored for startup businesses. This is because startup entrepreneurs are not one of the four groups of qualified foreign experts and individuals under the LTR Visa.
All approved changes will take effect upon the official announcement by the BOI and the Ministry of Interior regarding the LTR Visa and SMART visa.
We will keep you informed of any updates. For more information or assistance, please contact us.
