Thailand – Major revision to its Long-Term Resident Visa Program - Magrath : Magrath

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Spotlight on APAC: Thailand

In our spotlight on the APAC series, we round up the latest developments across the Asia Pacific region. In this post, we look at the update which Thailand has introduced to its Long-Term Resident Visa program.

Thailand’s cabinet has approved the updates and adjustment to the qualifications, criteria, and conditions for the Long-Term Resident (LTR) Visa program. The revision to its long-term resident visa program targets four categories, namely Highly-Skilled Professionals, Work-from-Thailand Professionals, Wealthy Global Citizens and Wealthy Pensioners.

The LTR is a 10-year residency program applies to successful applicants, which could benefit from a personal income tax privilege, digital work permit and others eligibility.

The approved changes include an expansion of the list of target sectors for the Highly Skilled Professionals category.

Key Changes

Work Experience Requirement Removed

The requirement for the min of 5 years of relevant work experience to qualify for the LTR has been scraped to reduce requirement redundancy and increase accessibility, especially for young professionals and rising leaders to secure long-term residency without extensive work history.

Lowered Corporate Sponsorship Criteria

The eligibility criteria for corporate-sponsored applicants have been lowered to a minimum from USD 150 million to USD 50 million over the last 3 years.
Employees of wholly-owned subsidiaries of major multinational corporations are now eligible for the LTR, provided the parent company meets financial stability requirements.

No Income Requirement for Wealthy Global Citizens

The minimum annual income for Wealthy Global Citizens category has been removed to prioritize the cumulative wealth and investments in Thailand which are the core requirements for this category.

No Cap on Dependents

LTR visa holders can now sponsor an unlimited number of dependents, including parents and legal dependents providing more flexibility and stability for expatriates who wish to relocate with their families.

All changes will take effect following the official BOI announcement on the updated LTR criteria and the Ministry of Interior’s announcement on the expansion of dependents’ rights.

For more information on the process or any assistance you require on global immigration matters please do not hesitate to contact [email protected] or [email protected].

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