Category: Legal

The Board of Investment (BOI) recently announced a major revision to the Long-Term Resident (LTR) Visa criteria, which was approved by the Cabinet. This strategic overhaul aligns with Thailand’s ambition to attract high-potential foreign talent and adapt to evolving global trends in investment relocation. Below, we provide a detailed comparison of the old and new criteria, highlighting the significant changes. Broadened Target Industries for High-Skilled Professionals New Criteria The scope of target industries has been expanded to include educators in higher education and vocational institutions across various fields. This shift aims to enhance the skill set of Thai professionals by integrating foreign expertise, particularly in education and training. Old Criteria The LTR Visa for Highly Skilled Professionals focused on critical industries driving Thailand’s economic and technological development. Key sectors included: Other specialized fields included advanced materials research, AI, environmental management, financial advisory services, and innovation management, all of which benefit from the one stop service center for visa processing. While comprehensive, this list did not explicitly prioritize educators or vocational professionals, a gap addressed in the new criteria. Elimination of Work Experience Requirements for High-Skilled Professionals New Criteria The revised guidelines have removed the previous requirement for five years of work experience within the past decade. Instead, the program now evaluates expertise based on factors such as minimum income, educational background, target industry involvement, and employer stability. This change broadens eligibility and simplifies access for high-potential talent, especially those seeking a one ltr visa. Old Criteria High-skilled professionals needed at least five years of relevant work experience in the past decade unless they: This rigid requirement often excluded younger or less traditionally experienced professionals who might otherwise contribute significantly. Relaxed Income Criteria for Foreign Employers for work-from-Thailand Professional New Criteria The income threshold for foreign employers has been significantly lowered, requiring less documentation per one ltr visa holder. only USD 50 million in revenue over the past three years (previously USD 150 million). This change also includes subsidiaries of qualifying parent companies. The adjustment aims to attract talent from both multinational corporations and emerging companies, particularly in digital technology—an industry facing a talent shortage in Thailand, which is now being addressed through specialized training institutions in Thailand.  Old Criteria Remote professionals (Work-from-Thailand category) had stricter income and employment benchmarks: These requirements limited eligibility to individuals from well-established firms and higher income brackets. Shift in Wealth Criteria for Wealthy Global Citizens New Criteria The emphasis has shifted from high income (USD 80,000 annually) to stable assets and long-term investments in Thailand. Applicants must now demonstrate investments of at least USD 500,000 in Thai government bonds, real estate, or direct investments. This adjustment aligns with the goal of stimulating domestic investment.  Old Criteria Eligibility for Wealthy Global Citizens required: Accepted assets included bank deposits, real estate, stocks, and mutual funds. However, the focus on high income excluded individuals who might hold significant investments but lacked sufficient annual earnings. Expanded Benefits for Dependents New Criteria Dependents now include not only legal spouses and children but also parents and other dependents, with no limit on the number of accompanying individuals. This update increases the program’s appeal to foreign professionals seeking to relocate with their entire family and boosts domestic spending by these families. Old Criteria The previous guidelines limited dependents to: With the recent approval of Thailand’s Marriage Equality Bill, same-sex spouses may also qualify as dependents starting January 2025. Progress and Results Since its inception, the LTR Visa program has attracted over 6,000 high-potential foreign professionals, with a majority from Europe (2,500), followed by the United States (1,080), Japan (610), China (340), and India (280). These updates reflect Thailand’s commitment to positioning itself as a global hub for top talent and a preferred destination for high-value foreign investment, particularly through the one stop service center for visa processing. Summary of Key Differences Aspect Old Criteria New Criteria Target Industries High-Skilled Professionals Focused on critical economic sectors Expanded to include educators and vocational professionals Work Experience High-Skilled Professionals Minimum of 5 years No work experience required; expertise evaluated on other factors Employer Income Threshold Work-from-Thailand Professional USD 150 million over 3 years USD 50 million over 3 years; includes subsidiaries Wealth Criteria Wealthy Global Citizens High income and assets Focus on stable assets and long-term investments Dependents Spouse, up to 4 children Includes parents, other dependents, and unlimited number With these progressive changes, Thailand is well-positioned to attract a diverse pool of global talent, drive economic growth, and secure its reputation as a world-class talent hub.  How AO Can Help Navigating the LTR Visa application process can be complex, but AO is here to make it seamless, leveraging the one stop service center for visa support. With our experienced team, we provide personalised support to ensure that your application is completed accurately and efficiently. Whether you’re a retiree, a remote professional, or an investor, AO is your trusted partner for relocating to Thailand, providing access to the one stop service center for visa assistance. About The AO-Group AO, based in Bangkok specializes in providing expert tax and accounting solutions tailored to businesses and individuals in Thailand. With over 20 years of experience, we simplify complex processes like Withholding Tax (WHT) compliance and refunds, helping our clients maximize financial efficiency while adhering to Thai regulations. At AO, we are committed to delivering personalized, results-driven support for all your tax needs. FAQs About The LTR visa and Work Permit Q: What is the new long-term resident visa introduced by the BOI? A: The new visa, called the “long-term resident visa,” allows individuals to stay in Thailand for an extended period, specifically targeting professionals or experts in targeted industries. Q: Who qualifies as a long-term resident visa holder? A: A long-term resident visa holder is someone who meets the specific criteria set by the Thailand Board of Investment, such as having employment in targeted industries or sufficient financial means, including wealthy pensioners. Q: What are the benefits of holding a long-term resident visa in Thailand? A: Benefits for ltr visa holders