Starting on 1 September 2022, Thailand is launching a new “Work-From-Thailand” visa category with a maximum validity of 10 years. The visa is issued for an initial period of 5 years, after which it can be renewed for an additional 5 years.

And yes, one of its streams will double as a Thailand Digital Nomad Visa.

The Thai LTR visa program is aimed at attracting highly skilled professionals, investors, remote workers and digital nomads to Thailand for the long term. It is the country’s third visa initiative seeking to achieve this goal.

Formally referred to as the Long-Term Resident (LTR) visa, the program will be available to qualifying foreigners falling into the following four categories: 

  • Wealthy global citizens (a.k.a. High Net Worth Individuals holding at least $1 million in assets)

  • Affluent retirees aged 50 years or older, and with stable income or annual pension earnings

  • Highly skilled professionals in targeted industries, including academics, researchers

  • Work-From-Thailand professionals (a.k.a. Digital Nomads and Remote Workers working for well-established foreign companies)

Thailand’s tourism sector was decimated by the pandemic, and it is hoped that this Thai digital nomad visa will unlock a new and sustainable source of revenue for the country. 

According to a recent report by Nikkei Asia, Thai Board of Investment (BOI) Deputy secretary-general Narit Therdsteerasukdi is on record as saying that applications for the new visa are expected from China, the US, Europe, Japan and South Korea, and that the government expects each visa holder to contribute about 1 million baht (~$28,100) per year to the local economy.

In particular, the country is looking to attract expert talent in sectors ranging from electric vehicles, medicine, electronics and defense.

Crucially, companies taking advantage of the new visa program will be exempted from the requirement to hire four (or more) Thai nationals per foreign employee.

(While this measure seeks to protect the domestic workforce, it has also served as a barrier to entry for foreign entrepreneurs and companies seeking to incorporate in Thailand. 

The exemption is intended to ensure that the program can be used by small and medium sized startups as well. 

Asia has historically been a notoriously difficult region in which to obtain second residency, with Malaysia’s My Second Home program dominating the market. The MM2H program was suspended in 2021 as a result of the pandemic, and subsequently relaunched with far stricter requirements.

To further sweeten the deal, holders of the Thai Long-Term Resident visa will also be taxed at only 17% on annual earnings greater than $140,000 – as opposed to the 35% generally charged on this amount. (In comparison, the US tax rate on annual incomes of $215,950 to $539,900 is 35%).

And while it is not fully clear yet how Thailand’s new 10-year nomad-and-retiree-friendly visa will differ from the existing Thailand Elite visa program – which is essentially a pricey tourist visa on steroids – the tax benefits to the new program will likely be a key differentiator. 

What are the key, known program requirements?

According to official program documentation published by Thailand’s Board of investment, the qualification requirements are as follows:

WEALTHY (HIGH NET WORTH) INDIVIDUALS: 

  • $1 million+ in assets

  • $80,000+ per year in personal income for the past 2 years

  • Invest $500,000+ in Thai government bonds, foreign direct investment in business, or Thai property (essentially making this track the “Thailand Golden Visa” program)

  • Health insurance with at least $50,000 in coverage, OR social security benefits covering medical treatment in Thailand, OR a $100,000 deposit against any future medical expenses.

AFFLUENT PENSIONERS:

  • $80,000+ per year in personal income at the time of application

  • If your personal income is higher than $40,000, but less than $80,000 per year, you must invest at least $250,000 in Thai government bonds, Thai property, or another eligible type of foreign direct investment.

  • Health insurance with at least $50,000 in coverage, OR social security benefits covering medical treatment in Thailand, OR a $100,000 deposit against any future medical expenses.

DIGITAL NOMADS & REMOTE WORKERS (WORK-FROM-THAILAND PROFESSIONALS):

  • $80,000+ per year in personal income for the past 2 years

  • If your personal income is higher than $40,000, but less than $80,000 per year, you must have a masters degree or more advanced qualification (e.g. PhD), or own eligible intellectual property that could benefit Thailand, or you must have received Series A startup funding.

  • At least 5 years of relevant work experience in the past 10 years.

HIGHLY SKILLED PROFESSIONALS:

  • $80,000+ per year in personal income for the past 2 years

  • If your personal income is higher than $40,000, but less than $80,000 per year, you must have a masters degree or more advanced qualification (e.g. PhD), in science and/or technology, OR special expertise relevant to a job assignment in Thailand. (No minimum income is specified if you will be working for a Thai government agency.

  •  At least 5 years of relevant work experience in the targeted sector, except for applicants with a PhD or above in the relevant area of expertise. 

  • Health insurance with at least $50,000 in coverage, OR social security benefits covering medical treatment in Thailand, OR a $100,000 deposit against any future medical expenses.

How can you apply for the new Thai Long-Term Residency Visa?

Step 1: Register online and apply for a qualification endorsement for the LTR visa, and upload your supporting documentation.

Step 2: Receive notification of the outcome of your application within 20 business days.

Step 3: If your application was successful, you can proceed and apply for LTR Visa issuance at your closest Thai embassy or consulate, OR at a Thai Immigration office within 60 days of receiving your endorsement letter.

 Step 4: Pay the 10-year visa fee of 50,000 baht (~$1,400) per applicant.

Step 5: Applicants who work in Thailand can collect their Digital Work Permit from the Department of Employment’s 1-stop Service Center for Visa and Work Permit in the Chamchurri Square Building in Bangkok, or at one of the provincial labor offices. The annual renewal fee for the digital work permit is 3,000 baht  (~$85).

While – in theory – the Thai retirement visa stream of this program should benefit from the stricter MM2H requirements, however the country’s offering will also be competing with Bali’s digital nomad visa. and from a destination perspective, Bali and Thailand are very comparable products – cheap cost of living, exotic flavor, stellar scenery, and a tropical climate.

And while Portugal’s D7 and Spain’s Non-Lucrative Residency hasn’t historically had to compete with the Malaysian retirement visa, Thailand’s attractive tax offering may see it going head-to-head with these European passive income visas in future.

This is a developing story, and we’ll update this page with the official application site for the Thai Long-Term Resident Visa as soon as it’s announced.