In September 2022, the Board of Investment (BOI) initiated the Long-term Resident (LTR) visa scheme. This action was undertaken to entice potential foreign nationals interested in living in Thailand for work or retirement. It’s a strategic step, designed to bring in increased foreign direct investments (FDI) and professionals with transferable knowledge to boost Thailand’s economy.
Under the LTR visa scheme, beneficiaries who met the requirements as Wealthy Global Citizens, Wealthy Pensioners, Work-from-Thailand Professionals, or Highly-Skilled Professionals categories, along with their family, get multiple perks. These include a 10-year extendable visa with numerous re-entry approvals, the prolongation of more than 90 days stay notice in Thailand to an annual one, a renewable digital work permit, a 17% personal income tax rate courtesy of the Revenue Department for Highly-Skilled Professionals, and an expedited service at Thailand’s international airports. Notably, since the program’s inception, the BOI has registered close to 5,000 applications from worldwide applicants.
The government of Thailand then recently recognized the necessity to revise the LTR visa application criteria to broaden the range of qualified Highly-Skilled Professionals.
Consequently, the Board of Investment (BOI) made an announcement on March 16, 2023, to change the qualifications, standards, and terms for the Long-Term Resident (LTR) visa. Following this change, Highly-Skilled Professionals can now find employment across as many as 15 focused areas, namely:
- Automotive industry
- Electronics industry
- Affluent tourism industry
- Agriculture, food, and biotechnology industry
- Transportation and logistics industry
- Automation and robotics industry
- Aviation, aerospace, and space industry
- Biofuels and bio-chemical industry
- Petrochemical and chemical industry
- Digital industry
- Medical industry
- National defence industry
- Direct and significant supporting industries for the circular economy (e.g. fuel production from wastes, water resource management, etc.)
- International Business Center (IBC)
Other sectors requiring foreign candidates for qualification approval to have specialized knowledge in one or more of the following fields:
- Research and development in targeted industries or technologies, such as biotechnology, nanotechnology, advanced material technology
- Human resource development in science and technology at vocational or higher education level
- Application of artificial intelligence, automation, and robotics in business operations
- Planning and development of digital systems to enhance business productivity and services
- Financial or marketing analyst or advisory services
- Environmental and energy management
- Management or advisory of incubation programs, acceleration programs, innovation, and startup ecosystems
- Alternative dispute resolution services
- Promotion and support of economic development, trade, and investment by foreign chambers of commerce and organizations promoting trade and investment from foreign countries
This revision aims to make the list of focused sectors more adaptable and practical in order to draw in more foreign individuals to apply for the LTR visa in this category.
The other LTR visa application criteria for top-tier professionals are consistent and any successful applicants need to fulfill the following conditions:
Income Requirements
- A yearly earning of at least USD 80,000 has been required for the last two years.
- If the annual income is under USD 80,000 but above USD 40,000 for the past two years or prior to retirement, the applicants should hold a postgraduate degree or higher in science and technology or possess specific skills applicable to their job role in Thailand.
- No minimum personal income for professionals employed by higher education organizations, research facilities, specialist training institutions, or Thai government bodies.
Work and Other Requirements
- The prerequisites for the job include working within the specified sectors (as previously stated).
- The candidate should have a minimum of 5 years of professional experience within the last ten years in the specified areas, unless they possess a Ph.D. or higher in a relevant field within these sectors, or are employed by a higher education institution, research facility, specialized training institution, or Thai governmental agency.
- It’s also necessary to have health insurance that covers at least USD 50,000 or public health benefits that cover medical costs in Thailand, or to hold a deposit of a minimum of USD 100,000.
- The individual should not be classified as an undesirable alien in accordance with immigration legislation.