Thailand recently introduced significant changes to its Long-Term Resident (LTR) visa program, as it aims to attract a broader pool of skilled professionals. The updated program is designed to bolster foreign investment and position Thailand as a global hub for talent and innovation, the Board of Investment (BOI) announced.

Easing barriers for skilled professionals

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One of the most notable adjustments is a reduction in the threshold for the corporate revenue requirement for foreign employers sponsoring visa applicants. Previously set at US$150 million over three years, the requirement has been lowered to US$50 million. Additionally, employees of wholly owned subsidiaries of multinational corporations are now eligible for the LTR visa, provided financial stability can be demonstrated through the parent company’s financial statements.

“By ensuring a more inclusive and competitive approach, we believe these changes will further enhance Thailand’s position as a global hub for investment and high-potential talent,” BOI Secretary-General Narit Therdsteerasukdi said in a statement. “Smooth visa procedures are an essential part of our focus on the ease of doing business.”

Another significant change is the removal of the five-year minimum work experience requirement for applicants in the Highly Skilled Professionals and Work-from-Thailand Professionals categories. This adjustment aims to broaden access for emerging talent in critical sectors such as disaster management, integrated innovation, and sustainability.

Wealthy investors get a boost

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The Wealthy Global Citizens category has seen a major overhaul, with the minimum annual income requirement of US$80,000 eliminated entirely. The focus now shifts to cumulative wealth and investments within Thailand, aligning with the government’s goal of increasing foreign investment activity.

The Cabinet also approved the revocation of overlapping Smart Visa categories, retaining only the Smart-S Visa for startup entrepreneurs. This streamlining simplifies the visa landscape, ensuring clarity and reducing redundancy for prospective applicants.

A family-friendly approach

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In a bid to attract long-term residents, Thailand has expanded the rights of dependents under the LTR visa program. The previous cap of four dependents per visa holder has been removed, allowing spouses, children, parents, and other legal dependents to accompany the primary applicant. This move underscores the government’s commitment to creating a welcoming environment for families.

Facilitating economic transformation

Launched in September 2022, the LTR visa program offers a 10-year residency, a digital work permit, and personal income tax privileges. With over 6,000 visas already granted by the end of 2024, the program has seen strong uptake from European nationals (2,500 recipients), followed by the United States (1,080), Japan (610), China (340), and India (280).

The recent updates are expected to further enhance the program’s appeal. By targeting sectors critical to economic transformation, such as technology and digital services, the LTR visa aligns with Thailand’s long-term strategic goals.

Future implementation plans

The revised criteria will take effect following official announcements from the BOI and the Ministry of Interior. Detailed guidelines and application procedures are expected to be released soon.

BOI Secretary-General Narit noted that streamlined visa procedures are essential for facilitating business and expressed confidence that these changes will further enhance Thailand’s position as a global hub for investment and talent.

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