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Thailand LTR Visa
LTR Long-term Resident Visa
30/08/2022
The long-term resident visa in Thailand, also known as Thailand LTR Visa, will soon be available for application.
The LTR looks to attract wealthy expats or professional expats to Thailand by making it easier to apply for a long-term visa and take advantage of things such as tax benefits.
In this article we explore some of the important details relating to the LTR visa, including requirements, benefits, how to apply for it and a comparison to some of Thailand’s existing visas.
Key points
- The LTR will is available since September 2022.
- The LTR will cost 50,000 THB and a work permit costs a further 3,000 THB.
- The LTR application process takes approximately 90 days to complete.
What are the benefits of the Thailand LTR Visa?
Holders of an LTR visa are eligible for numerous benefits which will make living in Thailand easier and less bureaucratic.
These privileges include:
A discounted personal income tax rate
Holders of the LTR visa will be able to take advantage of a special Personal Income Tax (PIT) rate of 17%. PIT is taxed at a progressive rate (from 5 to 35%).
This is beneficial for ‘Highly Skilled’ professionals (who the LTR is targeted at) who will normally be taxed at a higher progressive rate. Therefore, this reduced PIT rate could result in a significant tax saving for the holder.
Permission to work in Thailand
Holders of the LTR will be eligible to receive a Digital Work Permit. This is a significant attraction for those who wish to come to Thailand as a Digital Nomad and work legally. This is currently not possible through the existing visas on offer.
The removal of the requirement for employers to hire four Thai citizens per foreigner
Setting up a company in Thailand would be an attractive option for holders of an LTR who applied under the ‘Work From Thailand’ or ‘Highly Skilled Professionals’ options.
Private Limited Companies in Thailand are subject to restrictions on hiring foreign staff. Typically, you are required to hire 4 Thai employees for each foreign member of staff. This quota is not applicable to LTR visa holders.
Fast track at international airports
LTR visa holders can take advantage of the fast track services available to travellers at Thai airports and avoid the often long and slow lines.
1 year reporting to Immigration instead of 90 days
The majority of visa holders in Thailand are required to submit a notification of their place of residence to the Thai Immigration Office every 90 days.
This is not required for holders of the LTR who only need to do this report once per year.
Who is eligible for thailand LTR Visa?
The LTR visa has been designed for those who have enough work experience, income, and assets i.e. “high-potential” expats.
Essentially, the LTR visa will be available to the following groups:
- An investor who wants to invest at least $500,000 USD in Thailand
- A retiree who wants to get a 10-year visa
- A professional worker who wants to get a 10-year visa
For more information and details, please see our blog post explaining more here.
How do I apply for the LTR visa?
The application procedure for the LTR is as follows:
- Submit an online application with the required supporting documents e.g. evidence of funds, education documents, and relevant supporting documents issued by your employer.
- Upon the approval of the application, it will take approximately 30 working days to receive the endorsement letter.
- Submit the endorsement letter with your passport at the relevant place in order to receive the LTR visa stamp in your passport (within 60 days).
– Applicants already in Thailand can apply at their local immigration office.
– Applicants who are outside of Thailand can apply from a Thailand embassy or consulate. - Once you are in Thailand, visit the One Start One Stop Service Center to get a digital work permit (this applies only to those who want to work in Thailand).
How much does the LTR visa cost?
The LTR visa is priced at 40,000THB. Please note that a digital work permit will cost an additional 3,000 baht per year.
Thailand LTR Visa vs. The Thailand Elite visa
Both the LTR visa and the Thailand Elite visa will allow you to stay in Thailand for a long term stay, but what are the differences?
For your information, here is a comparison of both visas:
Cost
- The LTR visa costs 50,000 baht for 10 years.
- The Thailand Elite visa is significantly more expensive as one tier of an Elite visa costing 1,000,000 baht or 50,000 baht per year (for a 20 year validity).
Notification of stay and work permits
- With an LTR visa, you will only need to do the notification of stay (90-day reporting) once a year, and a work permit is available to the holder.
- Work permits under the Elite visa require an investment of $1,000,000 USD in Thailand.
Ease of application
It is much easier for applicants to apply for the Thailand Elite Visa as anyone can apply for one as long as they can afford it. The Thailand Elite visa also does not require the applicant to invest $500,000 USD in Thailand or show financial documents.
The LTR visa vs. The Retirement visa
Overall, it is easier to obtain a Thailand retirement visa than a LTR visa as the application requirements are significantly less. Also, a retirement visa requires less proof of financial resources and health insurance coverage.
However, the retirement visa is only available to applicants over the age of 50, unlike the LTR which doesn’t have this age restriction. Furthermore, holders of a retirement visa are not able to work or apply for a work permit which is a significant disadvantage.
The LTR visa vs. The Non-Imm B (Business visa)
The LTR visa is basically an upgraded version of the Non-Immigrant B business visa. Therefore, if you are eligible for the LTR visa, and can afford it, it is the recommended option.
Advantages include, 10 year validity, yearly reporting as opposed to every 90 days, tax breaks etc.
Can you achieve Thai Citizenship with the LTR Visa?
The LTR visa is a resident visa, therefore it is possible to apply for permanent residency or citizenship. Applicants are subject to the same application requirements as other visa types.
How can Belaws help?
Our team of immigration experts are on hand to help you make your visa applications as smooth as possible. If you are in need of assistance with regards to staying in Thailand or working in Thailand, you can browse our visa services here.
Belaws understands that the visas in Thailand can often be confusing, so in order to get some more information, why not talk to one of our experts now.
Please note that this article is for information purposes only and does not constitute legal advice.
Our consultations last for a period of up to 1 hour and are conducted by expert Lawyers who are fluent in English, French and Thai.
Consultations can be hosted via WhatsApp or Video Conferencing software for your convenience. A consultation with one of our legal experts is undoubtedly the best way to get all the information you need and answer any questions you may have about your new business or project.
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Frequently asked questions
How do I get a long term residence visa for Thailand?
This visa will be available from September 2022. Applicant must also satisfy the application criteria as well.
How long can foreigners live in Thailand?
This depends on what visa person in question holds. Those who are employed by a Thai company, married to a Thai national or retired can get yearly visa extensions. Education visas and the Thailand Elite also offer longterm stays for the holders. Permanent residency and Thai citizenship is also available for qualifying people.
Can I live in Thailand permanently?
Those who qualify for Non-Immigrant O visas can extend their stays yearly, as long as they satisfy the application requirements. The Thailand Elite program also offers long term stays, which can be extended. Permanent Residency and Thai Citizenship can also be obtained (should the application requirements be met).
Can you get permanent residency in Thailand?
Thailand does offer Permanent Residence for those who satisfy the application criteria.
Can foreigners retire in Thailand?
Yes, Thailand offers a Non-immigrant O visa for retirees. There are however, application requirements that must be satisfied before applying. Examples include, monthly/yearly financial and insurance requirements.
Can I stay in Thailand for 12 months?
Thailand has various different visa options for those who wish to stay for a year (subject to qualification requirements). Examples include, the Thailand Elite visa, education visa, retirement visa etc.
What are the benefits of the Thailand LTR Visa?
Holders of an LTR visa will be eligible for many attractive benefits which have been designed to make living in Thailand long term easier and less bureaucratic.
- A discounted personal income tax rate
- Permission to work in Thailand
- Fast track at international airports
- 1 year reporting to Immigration instead of 90 days
Who is eligible for thailand LTR Visa?
The LTR visa has been designed for those who have enough work experience, income, and assets i.e. “high-potential” expats.
Essentially, the LTR visa will be available to the following groups:
- An investor who wants to invest at least $500,000 USD in Thailand
- A retiree who wants to get a 10-year visa
- A professional worker who wants to get a 10-year visa
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