The qualification criteria for high net worth retirees are as follows:
|➤ Be over 50 years old|
|➤ Have an annual income of more than $40,000|
|➤ Have health insurance with a minimum coverage of $100,000 per person|
|➤ Invest up to $250,000 in Thai government bonds or real estate|
For high-income and highly skilled professionals, these categories include digital nomads and employees of large organizations who are about to retire, as well as experts and researchers who come to Thailand to work for government agencies or as university professors in “industries of importance”. The qualification criteria are as follows:
|➤ Have an income of more than $80,000 over a two-year period|
|➤ Have assets worth at least $1 million|
The advantages announced by the Thai government include immigration, tax and land ownership.
Regarding the immigration benefits, in addition to a 10-year residence permit, family reunification is possible for spouses and children who will also benefit from the long term visa. Thus, unlike the current regimes, investors are not required to report to the Thai immigration authorities every 90 days. In addition, this visa automatically provides work permits.
In addition, this long term visa for Thailand has many tax advantages. The beneficiary will be subject to an income tax rate corresponding to Thai citizens. Also, a tax exemption is offered for worldwide foreign income. Therefore, employees working for a foreign company remotely, will not have to pay tax on their worldwide income.
For real estate in Thailand, there is a easing of restrictions on foreign ownership of land and real estate and a tax exemption on such ownership.
In conclusion, the measures related to the Thai long-term visa are subject to change. It is important to follow the evolution of these measures. Follow our posts to be informed of the visa policies that are relevant to you.