If you’re looking for a long-term stay in Thailand with fewer trips to immigration and more flexible working arrangements, the Thailand LTR visa (Long-Term Resident) is perfect for you. Whether you’re planning to work, invest, retire, or simply enjoy the lifestyle, this visa provides up to a 10-year stay in the Kingdom with fewer hassles than 1-year visa solutions in Thailand.
The LTR visa is designed to accommodate a wide range of people, including wealthy international citizens, retirees, remote workers, and professionals by offering multiple paths to eligibility. Let’s examine the benefits of Thailand’s LTR Visa, the requirements for eligibility, and how you can get this visa in the easiest manner possible.
What are the Benefits of a Thai LTR Visa?
The Thailand Long-Term Resident Visa comes with benefits designed for convenience to make life easier for expats who have settled here. These include a 5-year, renewable, multiple-entry permit, making travel to and from Thailand hassle-free for a total of 10 years. Another benefit is requiring only annual reporting to the Thai Immigration Office, unlike other visas which demand you report to Immigration every 90 days.
LTR Visa holders also enjoy benefits regarding employment such as a reduced personal income tax rate of 17% for those in the Highly Skilled Professionals category (see below). Additionally, it makes getting a work permit easier, allowing you to acquire one faster and cheaper at the One Stop Service Center. Furthermore, if you meet certain criteria, you are exempt from the 4:1 Thai to foreigner employee ratio restriction, making you a more attractive candidate.
Apply for a Thai LTR Visa with Your Family
Another major advantage of Thailand’s LTR Visa is the option to include up to 4 family members on a single LTR Visa, covering children under 20 years old and spouses, so you don’t have to secure separate immigration solutions. However, your family members must be legally related by marriage, birth, or adoption, as Thai law does not recognize common law partnerships or same-sex marriages.
Here is how to add a spouse or child to your chosen LTR Visa:
- The added family member must be a be a legal spouse or child of the main applicant
- Each family member on the application needs health insurance coverage of at least 25,000 USD.
- Children qualify as dependents if they are under 20 years of age.
- The main applicant must supply additional proof of relationship for each dependent, such as marriage or household registration certificates.
What are the LTR Visa Categories and their Requirements?
The LTR Visa categories provide several paths to a 10-year stay in Thailand. If you are looking to settle down in Thailand on this visa, you will need to meet all the requirements in a given category.
However, regardless of category, all Thailand LTR Visa applicants must meet these general requirements:
- A foreign passport must have at least six months of validity remaining from the time of application.
- A recent passport-size photo (in color, with a white background)
- Proof of income, including:
- Latest tax returns
- Bank statements
- Recent pay slips
- Additional documents you may need to provide:
- Employment contracts
- Education certificates
- Health insurance with 50,000 USD coverage
- If you do not meet the health insurance requirement, you must have a deposit of at least 100,000 USD in a bank account, whether in Thailand or in a foreign country, with proof of it being maintained for 12 months through a bank statement summary.
- Report to the Thailand BOI after receiving the LTR Visa once the applicant has resided in Thailand for over 365 consecutive days.
- On the day of issuance, you’ll need to pay a visa fee of 50,000 THB directly to immigration. If you are collecting the visa overseas, the fee will vary depending on the country.
Now let’s take a look at the different LTR categories and their unique requirements.
Wealthy Global Citizens
- Must have had an annual income of at least 80,000 USD over the past two years.
- Must own assets worth 100,000 USD.
- Must have invested at least 500,000 USD in Thai government bonds, foreign direct investments, or real estate.
Wealthy Pensioners
- Must be at least 50 years old.
- Must have an annual passive income of 80,000 USD (excluding employment earnings)
- If you earn between 40,000 USD to 80,000 USD yearly, you will need to have invested a minimum of 250,000 USD in Thai government bonds, foreign direct investments, or property.
Work-from-Thailand Professionals
- Must have had an annual income of at least 80,000 USD for the past two years.
- If you earn between 40,000 to 80,000 USD, you must hold a master’s degree or higher, own intellectual property, or have Series A funding of no less than 1,000,000 USD.
- Must have 5 years of relevant professional experience in the last 10 years.
- Your current employer must either be publicly listed on the International Stock Exchange or a private company in operation for at least 3 years with a combined revenue of at least 150,000,000 USD in the last 3 years.
Highly Skilled Professionals
- Must have had an annual income of at least 80,000 USD for the past two years
- If you earn between 40,000 to 80,000 USD, you must hold a master’s degree or higher in science or technology or possess unique expertise relevant to your role in Thailand.
- Must have 5 years of experience in a specific industry.
- Your current employer must be in an industry targeted by the Thai government, such as government agencies, higher education institutions, specialized training institutions, and research centers.
How to Apply for an LTR Visa
The timeline for the Long-Term Resident (LTR) Visa is generally 4-8 weeks, depending on your application. When you apply for an LTR visa, you will need the following documents:
- A filled-out LTR Visa application form (TM94)
- Criteria and Conditions Acknowledgement Form (STM.8)
- Color photocopy of your passport with at least 6 months validity remaining
- A recent passport-sized color photo (white background)
- Income proof, including:
- Latest tax returns
- Bank statements
- Recent pay slips
- Additional documents, if needed, such as:
- Employment contracts
- Educational certificates
You’ll need to go to the Thailand Board of Investment (BOI) to submit your application and await approval. Once you have been approved, you will soon receive what’s known as a Board of Investment (BOI) Endorsement Letter. Upon receiving this letter, you will have 60 days to collect your new visa. You can acquire it either at the Royal Thai Consulate if you’re overseas or the Board of Investment Office if you are in Thailand.
Thailand Elite Visa: An Alternative Option
If you like the idea of living in Thailand long-term, but cannot meet the criteria listed here, the Thailand Elite Visa offers a simpler path to long-term residency in Thailand without the many requirements of the LTR visa.
This visa is available through the Thailand Privilege Visa Program, which appeals to those valuing convenience and luxury and offers stays of 5 to 20 years. Unlike the LTR visa, the Elite Visa only requires a one-time fee instead of proving annual income or making investments.
Thailand Privilege membership comes with a long list of benefits and perks as well as a 5-year, multi-entry, renewable Thai Elite Visa. Importantly, this visa does not permit employment in Thailand. However, it imposes no restrictions on foreign income or investments in Thailand.
Apply for a Long-Term Resident Visa with Siam Legal Today
Choose Siam Legal International for a smooth and successful Thailand Long-Term Resident Visa application. We’re a full-service law firm in Thailand with over 20 years of experience finding the ideal visa solutions for clients from across the globe.
Apply with the assistance of our experienced Thai visa consultants, and we’ll not only answer all of your questions but also thoroughly check your documents to catch any mistakes or missing information before we submit your application. We’ll even accompany you to the BOI and communicate with them on your behalf to ensure a smooth transition to your new life in Thailand.
Our services make the whole process faster and smoother, minimizing the chance of your Thailand LTR Visa application being delayed or denied, so contact Siam Legal today to schedule a consultation.
