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LTR Visa (Long-Term Visa) 5 Benefits
19/07/2022
Since September 2022, Thailand’s new Long-Term Resident visa (the LTR) will be available for application to those who satisfy the qualifying requirements. There has been a lot of attention placed on this new visa and the Thai Government has high hopes for it. This is evidenced by the provision of some attractive benefits that are only available to this particular visa.
For more information about the LTR and who can apply, please take a look at our previous blog post on the subject here.
Key points
- The LTR visa will be available from September 2022 onwards.
- Holders of an LTR visa will be eligible for attractive benefits including: A discounted PIT rate, a Digital Work Permit and reduced requirements for hiring foreign staff in Thailand.
- 10 years visa Thailand
What is the LTR visa?
The LTR visa is a program that has been designed to attract ‘high-potential’ foreigners to Thailand. It does so by offering a visa which is valid for 10 years and a range of tax and non-tax benefits to the holders.
Who can apply for an Long-term visa in Thailand?
The LTR visa is available to the following 4 groups:
- Wealthy global citizens
- Wealthy retirees
- Professionals working in Thailand
- Highly skilled workers
What are the benefits available to the holder of an LTR?
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.
These privileges include:
LTR Visa Thailand tax rate
Holders of the LTR visa will be able to take advantage of a special Personal Income Tax (PIT) rate of 17%. The current rate of PIT for normal employees is taxed at a progressive rate (from 5 to 35%).
This is an attractive benefit, as it is likely that the tax rate for a ‘Highly Skilled’ professional (who the LTR is targeted at) will be taxed at one of the higher progressive rates. 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.
One of the drawbacks to forming a traditional company structure (Private Limited Company) in Thailand is the 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.
How can our experts 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, this is why our visa expert is available to help you identify and apply for the best visa for your situation. In order to provide the most accurate and reliable advice for your needs, Thai Visa Belaws offers a visa consultation with our visa expert.
During this consultation our visa expert will assess your current situation and needs and provide a solution for the most suitable visa or extension. Our visa expert has helped numerous clients and has a vast amount of experience and can help you come to a desirable outcome.
Please note that this article is for information purposes only and does not constitute legal advice.
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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
What is the LTR visa In Thailand?
The LTR visa is a program that has been designed to attract ‘high-potential’ foreigners to Thailand. It does so by offering a visa which is valid for 10 years and a range of tax and non-tax benefits to the holders.
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 long-term stays for the holders. Permanent residency and Thai citizenship is also available for qualifying people.
Who can apply for an LTR visa in Thailand?
The LTR visa is available to the following 4 groups:
- Rich global citizens
- Wealthy retirees
- Professionals working in Thailand
- Highly skilled workers
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.
Does Thailand have digital nomad visa?
Until recently Thailand did not have a visa which allowed remote workers to stay in the country long-term, and legally work. Most digital nomads lived and worked in Thailand through the use of tourist or education visas. It is important to note, the use of such visas are a grey area as they do not allow holders to undertake employment.
What are the benefits of the LTR Visa?
From September 2022, Thailand’s new Long Term Resident visa (the LTR) will be available for application to those who satisfy the qualifying requirements.
Can i stay 10 years in Thailand?
Yes, with the Long-Term residency visa (LTR visa) it is possible to stay 10 years in Thailand.
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