LTR Visa: Wealthy Individuals Can Now Enjoy Thailand’s Paradise With a 10-Year Visa

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If you’re looking to more permanently delight in Thailand’s sunny beaches, luxurious 5-star resorts, and world-famous hospitality, you now have a new option to stay long-term.

On September 1, 2022, wealthy individuals and pensioners can apply for Thailand’s new long-term resident (LTR) visa. Note, the word “wealthy” here doesn’t mean you own a helicopter or drive a Lamborghini. The Thai government is trying to attract “wealthy” individuals relative to the local economy and cost of living, which means the “wealth” income requirements are in reach for many westerners.

Below are details about the benefits, requirements, and application process.

Benefits

The LTR visa makes living in Thailand easier and less bureaucratic. These are some of the noteworthy privileges: 

  • 10 year renewable visa: Once your visa application is approved, you can stay in Thailand for up to 10 years. 
  • Once-a-year immigration reporting: Most visas require reporting your residence to immigration every 90 days. The LTR visa extends this to one year. 
  • Fast Track Service at airports: Save time at the airport and get through immigration faster with access to the premium lane. 
  • Multiple re-entry permit: Fly in and out of Thailand as you please without having to get re-entry permits. The LTR visa acts as a multi-entry visa. 

Requirements

There are four core categories of LTR visas and the requirements vary depending on which one you apply for. Wealthy individuals fall under two categories: Wealthy Global Citizens or Wealthy Pensioners. Here are the qualifications for both categories: 

Wealthy Global Citizens

  • Assets: Value of your assets must be a minimum of $1,000,000. Assets without reliable market appraisal evidence or proof of ownership are excluded. 
  • Income: Minimum of $80,000 annual income for the past 2 years. 
  • Investment: Minimum investment of $500,000 in Thai property, foreign direct investment, or Thai government bonds. 
  • Health insurance: At least $50,000 in medical coverage; or $100,000 in your bank account account 12 months prior to applying; or social security benefits that cover treatment in Thailand. 

Wealthy Pensioners

  • Income: Minimum of $80,000 annual income for the past 2 years or an income of $40,000-$80,000 for the past 2 years plus a minimum investment of $250,000 in Thai property, foreign direct investment, or Thai government bonds. 
  • Health insurance: At least $50,000 in medical coverage; or $100,000 in your bank account account 12 months prior to applying; or social security benefits that cover treatment in Thailand. 

3 Steps to Get Approved

The approval process for Wealthy Pensioners and Wealthy Global Citizens requires three steps that will take approximately two to three months to finish: 

  1. Submit an application online: And provide supporting documents that show evidence of your income, investment, health insurance, etc. 
  2. Receive endorsement: If you qualify, you’ll receive an endorsement letter within 20 working days from the day you applied. 
  3. Apply for the visa issuance: Once you have your endorsement letter, you’ll have 60 days to apply for the LTR visa issuance at a Thailand consulate or embassy, or at your closest immigration office if you currently live in Thailand. 

Showing evidence of your net worth, income, and investment in Thailand can be difficult. And as requirements for the LTR visa are still changing, having to continually search for updates online can add to the frustration. Baan Thai is here for you. If you need help applying for the LTR visa or would like to explore your other visa options, request a free consultation to talk with a Thailand immigration expert.

Disclaimer: Information about the LTR visa is still limited because it is a new class of visa. This article will be updated as more information is released.

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Mark Friedman

Managing Director of Baan Thai
Mark is a member of the California Bar and a 1987 graduate with honors from the University of Southern California Gould School of Law.

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