BOI launches LTR visa 1 Sept. 65, hoping to attract highly skilled personnel to Thailand.

ML Chayothit Kridakorn, Thai Trade Representative and Advisor to the Prime Minister Said in the launch of the new visa type “Long – Term Resident Visa: LTR Visa” that will be officially opened on September 1, 2022 that the Thai government has a policy to give special privileges to foreign investors. To attract people to set up a business base in the country, especially in the 12 target industries. That will help increase the potential of the Thai economy to move towards a new economy that uses modern technology and innovation to create long-term growth.

The LTR Visa aims to attract a new group of high-potential foreign residents. both in terms of skills and expertise in modern technology wealthy person including those who want to work from anywhere in the world which Thailand is one of the important destinations for tourists. and people traveling for work from around the world

“Thailand is at an important juncture. to accelerate the rapid economic recovery After being affected by the covids in the past 2 years, opening the country to accept foreigners again We target high-quality tourists. including attracting high potential personnel to stimulate spending and investment, and the LTR Visa is an important measure that will accelerate the recovery of the Thai economy.”

Ms. Duangjai Asawachintachit Secretary-General of the Board of Investment (BOI) revealed that for the LTR Visa, benefits will be granted to foreign personnel in 4 groups as follows:

1. a person with high wealth Must have assets worth at least 1 million USD. and have a personal income of not less than 80,000 USD/year and invest in Thailand not less than 500,000 USD

2. Retirees from abroad Must have a personal income of at least $80,000/year In the event that the income is lower than the specified Must invest at least $250,000 in government bonds or real estate

3. Those who want to work from Thailand Must have a personal income of at least $80,000/year In the event that the income is lower than the specified Must have completed a master’s degree or higher or possessing intellectual property or receive Series A funding

4. Special skilled person Must have a personal income of at least $80,000/year In the event that the income is lower than the specified Must hold a master’s degree or higher in science or technology or specialize in a field to work in Thailand

For benefits for LTR Visa holders, they will be entitled to stay in Thailand for 10 years. They can use a special channel (Fast Track) to enter and exit the Kingdom at an international airport. Report every 1 year (from every 90 days) and do not have to apply for a Re-entry permit to work in Thailand by reducing personal income tax to 17% for those with special skills and have 4 followers

“This new type of visa It is expected to attract a new group of foreign residents with good economic standing. including those with skills and expertise to stimulate spending, investment and help drive the country’s economic growth The BOI is responsible for screening the qualifications of visa applicants. For those who are interested, you can apply online at https://ltr.boi.go.th”