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Understanding BOI’s LTR Visa and Key Benefits for Investors

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Understanding BOI’s LTR Visa and Key Benefits for InvestorsAs is widely known, a visa is a document issued by a country allowing individuals to enter for a specific period and purpose. Currently, there are many types of visas available. However, to facilitate foreign nationals interested in doing business in Thailand, the government introduced the LTR Visa (Long-Term Resident Visa) in 2022. This visa is aimed at attracting highly skilled and talented foreigners to reside in Thailand for the long term. With Thailand’s growing  industrial estates and its role as a hub for foreign residents, the LTR Visa seeks to encourage foreign investment and boost technological growth in the country.

Benefits of the LTR Visa
Foreign nationals granted the LTR Visa enjoy several benefits, including extended residency, tax advantages, work rights, and more convenience compared to standard visas. The benefits are as follows:
  • 10-year residency in Thailand: The visa is initially granted for 5 years, with the option to extend for an additional 5 years, subject to a one-time fee of 50,000 THB.
  • Reporting requirements reduced: Visa holders are required to report only once a year, and they are exempt from re-entry permit applications.
  • Dependents: LTR Visa holders can bring up to four dependents, including legal spouses and children under 20 years old.
  • Digital work permit: LTR Visa holders are eligible for a digital work permit. Entrepreneurs investing in Thailand can hire one foreign national for every four Thai employees.
  • Tax exemptions: Income earned outside Thailand is exempt from taxes. Highly skilled professionals will be taxed at a fixed rate of 17% per year on their income within Thailand..
  • Fast-track services: Access to fast-track services at international airports in Thailand, as well asOne Stop Service Centers for Visa and Work Permits at immigration checkpoints, expediting the process.
Multiple re-entry permit: The LTR Visa includes a multiple re-entry permit, allowing unlimited entries into Thailand.Industrial estate ownership: LTR Visa holders are eligible to own land or property in industrial estates, in accordance with policies supported by the Board of Investment (BOI).Eligibility for the LTR Visa

The LTR Visa is designed to attract foreign nationals with high investment potential, high substantial incomes, or specialized expertise in technology or industry. There are four groups of eligible applicants, with the condition that all groups must have health insurance coverage exceeding USD 50,000, Thai social security benefits, or deposits of more than USD 100,000 in Thailand. Additional criteria for each group are as follows:
  • Wealthy Global Citizens: Individuals with total assets exceeding USD 1 million, personal income over USD 80,000 per year, and investments in Thai government bonds, foreign direct investments, or Thai real estate of least USD 500,000.
  • Wealthy Pensioners: Retirees with personal income exceeding USD 80,000 per year. If income is below this threshold, it must be no less than USD 40,000 annually. Additionally, they must have investments of more than USD 250,000 in Thai government bonds, foreign direct investments, or Thai real estate.
  • Work-From-Thailand Professionals: Foreign nationals earning over USD 80,000 annually, with at least five years of experience in a specific field. They must be employed by companies listed on a stock exchange or companies with annual revenues exceeding USD 150 million over the past three years. If their income is below this threshold, a minimum of USD 40,000 per year is required, along with a master’s degree, ownership of intellectual property, or Series A-level investment.
  • Highly Skilled Professionals: Industry experts working in government agencies, universities, research centers, training institutes, or private companies that align with their expertise. They must earn over than USD 80,000 annually, except for those employed by the government, where income requirements may not apply. Applicants must have at least five years of relevant experience, unless holding a Ph.D. in a related industry or working with the government. For those earning below the threshold, a minimum income of USD 40,000 per year and a master’s degree in science or technology are required.
Conclusion
The LTR Visa is designed to attract high-potential investors and experts to Thailand, with the main goal of stimulating the economy, expanding industrial parks, and creating more job opportunities for Thai citizens in the future.

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