Long term visa for Thailand to attract foreigners

This new long term visa initiative in Thailand aims to increase investment by attracting wealthy foreigners and also aims to attract highly skilled professionals to bring sought after skills to the country. This measure, which aims to revive the economy after COVID-19, will come into effect next year.

For high net worth foreigners, the qualification criteria are as follows:

The qualification criteria for high net worth retirees are as follows:

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:

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.