The Thai Cabinet has approved changes to the conditions for granting Long-Term Resident (LTR) visas, aiming to attract high-income individuals, digital nomads, and wealthy global citizens. This move is part of a broader strategy to encourage foreign residents to settle in the kingdom, according to an informed Government House source.
The Cabinet’s approval followed a proposal by the Office of the Board of Investment (BOI), which included easing requirements for LTR visas and revoking the Smart visa categories that overlapped with the LTR visa framework.
Revisions to LTR Visa Conditions
The BOI’s proposal included significant changes for three key groups: remote workers, wealthy global citizens, and dependents of LTR visa holders.
For digital nomads, or foreign nationals working remotely for employers based outside Thailand, the Cabinet approved a reduction in the income threshold for their employers. Previously, the requirement was set at US$150 million in annual revenue over the last three years. The new threshold is US$50 million, a decision that the BOI deemed more realistic for foreign workers with stable employment.
In another major change, the Cabinet agreed to abolish the rule requiring LTR visa applicants to have earned at least US$80,000 annually for two consecutive years before applying. The BOI had identified this requirement as a barrier for some applicants who met the investment criteria but could not meet the income threshold, which was not seen as essential for the visa’s primary purpose.
LTR Visas for Dependents
The Cabinet also lifted the cap on the number of dependents who can be included in an LTR visa application. Previously, applicants were restricted to bringing only four dependents, while other visa types did not have such a limit.
Revocation of Smart Visas
Additionally, the Cabinet approved the BOI’s proposal to revoke most Smart visa categories, retaining only the Smart visa for startup business owners. The BOI concluded that the remaining Smart visa categories were similar to the conditions for obtaining LTR visas, and the latter will now serve as the primary visa option for attracting wealthy global citizens to Thailand.
These revisions are expected to make Thailand a more appealing destination for high-income professionals and investors, reinforcing the country’s efforts to boost its economy and global appeal.
