The first 12 days saw a modest influx of LTR visa requests; to yet, 400 people—mostly retirees—have submitted applications. With nearly 20% of the applications coming from the US, Americans were the group who jumped on the new LTR visa scheme the most. Just 1,200 people applied for the smart visa program in the four years since the previous visa scheme was introduced to entice long-term expats to the kingdom, so the 400 applicants this month could be a good omen. Following a worldwide decline in tourism, nations are devising strategies to draw travelers and generate income. To raise Thailand’s standing in emerging technologies and make the nation a Southeast Asian tech powerhouse and global player, the country has adopted the strategy of seeking to attract wealthy expats, especially digital nomads and wealthy pensioners, as well as enticing competent experts. Another 30% of applicants were digital nomads looking to relocate…
Posts published in “Visa”
The Board of Investment has officially begun accepting applications for long-term resident (LTR) visas for wealthy and high-potential foreigners who are expected to make big contributions to the economy. The visa offers a range of tax and non-tax benefits to attract new foreign residents, technologies and talents to stay or work in the country longer. The LTR visa is available to four categories of foreigners: Wealthy global citizens Foreign retirees (wealthy pensioners) Work-from-Thailand professionals Highly skilled professionals – having personal income of not less than US$80,000 per year, are skillful in the target industry, and have not less than five years of work experience. Check if you qualify for the LTR (HERE)! Use the above LTR check to determine if you qualify (it takes 2 minutes). LTR visa holders will have privileges such as a 10-year renewable visa, fast-track service at international airports in Thailand, a one-year report to the…
The government expects the LTR visa to generate 1 trillion baht in annual earnings from wealthy expats investing, purchasing real estate, and spending money in the nation, despite its limited target market. Given that tourism accounts for at least 12% of Thailand’s GDP, the government anticipates that affluent expats will propel 4.2% economic development in 2019. The 10-year long-term resident visa went into effect on Thursday with the intention of turning tourists into expats by providing benefits and tax incentives. They have stated that they only want wealthy foreigners to use the LTR visa and relocate to Thailand. In addition to a yearly immigration check-in, numerous re-entry permits, a 10-year renewable visa, the opportunity to work in Thailand while holding the visa, a 17% tax rate, and fast track options at international airports, the program also includes a yearly immigration check-in. The new LTR visa, in the opinion of the…
Four categories of tourists will be qualified for 10-year visas if they earn $80,000 a year and have $1 million in assets. Radhika Rao, a Singaporean economist, claimed that the pandemic altered workplace regulations and ushered in freedom of location and employment scope. Currently, nations are making an effort to profit from this by providing long-term residency with alluring incentives. We can achieve the 5-year 1 million target and 1 trillion baht domestic spending if we do this well. The program will also help Thailand promote smart devices, digital technology, and electric vehicles. With so many expats working in Thailand for extended periods of time, LTR has the longest validity duration, which satisfies a requirement. Work permits and visas, according to Vibeke Lyssand Leirvag, head of the Joint Foreign Chambers of Commerce in Thailand, have been the biggest barrier to business in Thailand over the past ten years. LTR provides…
Beginning on October 1 of this year, the extension of the 30-day foreign visitor exemption period will be 45 days. The new visa extensions are a part of Thai government efforts to strengthen the country’s tourism sector. Officials have provided a range of estimations for the total number of international visitors expected in the country this year. The CCSA said on Wednesday that the 15-day visa-on-arrival scheme would be extended to 30 days in the interim. The extra visas are good until March 31, 2023. In October, the authorities will proclaim Covid-19 to be widespread, claims Dr. Taweelip. The “Land of Smiles” will welcome 9.3 million foreign visitors in 2022, according to a prediction made in July by the Tourism and Sports Ministry. 3.3 million foreign visitors traveled to Thailand between January and July of this year, according to the Thai Tourism Authority. Dr. Taweesilp claims that extending their stay…
The number of rich visitors who want to remain in Thailand for five years is estimated to be one million, but since the Smart Visa program was introduced in February 2018, just 1,200 travelers have taken advantage of it. Like the Smart Visa program, the new visa anticipates drawing 50% of travelers from Europe. Initial reactions are unfavorable. More time and interaction with the target audience are needed for the campaign to take off. I don’t think it will affect Dutch investments in the future. The Thailand Board of Investment is convinced that the Long-Term Residence program will be a success in the end as it is prepared to begin. In terms of foreign direct investment, which totals more than 715 billion Thai Baht, only Japan is ahead of the EU. Although some Europeans already living in Thailand may benefit, the executive director of the European Association for Business and…
The “post-pandemic period” is beginning in Thailand, according to the CCSA. The CCSA has “agreed in principle” to “temporarily” expand the number of days accessible for visa on arrival/visa exemptions on arrival in an effort to promote tourism. The CCSA reported that the situation with Covid in Thailand is getting better and that it is now being classified as a “communicable disease under observation” as opposed to a “serious communicable disease.” The CCSA announced that they would provide further details on this at the future CCSA meeting, which will occur early next month. The CCSA has reduced the recommended home isolation duration for those who test positive for Covid from seven days to five days. The CCSA suggests monitoring symptoms for five additional days. Overall this year, 3.78 million foreigners have visited Thailand. There was a sharp surge in international arrivals when Thailand Pass was discontinued in July. The Prime…
The majority of travelers planned to stay in Thailand for more than a month, according to TAT’s analysis of data from visa applications submitted at Thai embassies across the world. During a meeting on July 18, Thai Prime Minister Prayut Cha-o-cha stated that the plan needs more consideration and involvement from the Ministry of Foreign Affairs and the Immigration Office. TAT Governor Yuthasak Supasorn stated that the plan would be presented to the Centre for Covid-19 Situation Administration (CCSA) at the ensuing CCSA meeting on August 19. The information might motivate CCSA to accommodate tourist needs. Both arrival-based visa exemptions and arrival-based visas (VOA) would be prolonged to a 45-day period under the proposed extension. If the CCSA approves the proposal, the TAT predicts that the average visitor will stay an additional five days and spend an additional 4,000 to 5,000 baht each day, potentially increasing their spending by 20,000…
[wpdiscuz-feedback id=”334_intro” question=”What do you think?” opened=”0″]Following the extension of the State of Emergency in Thailand the 60-day “Covid” visa extension application date has been extended by one additional month. The deadline was originally scheduled on July 25, but Thai Immigration discreetly updated the date to August 24th. (as they have continued to do in the past).[/wpdiscuz-feedback] One thing to note is that this is the first time they have reduced the order of the extension to only 1 month instead of 2 months. For the past two years the covid extensions have been following the emergency decree extensions, and this divergence may be signaling that this could be the last opportunity to obtain this type of extension. (note the actual visa extension remains 60 days) Those who are unable to return home because of the continuing Covid-19 crisis are eligible for a visa extension. Required Documents for Extension ฿1,900…
For residences costing more than 3 million baht, the government plans to lower transfer and financing fees to 0.01 percent as an added incentive. The new long-term resident visa will accept applications starting on September 1, according to a statement from Thailand’s Board of Investment. According to the BOI, the new LTR visas will “make long-term stay in Thailand easier and less onerous.” In comparison to other nations, he claimed that Thailand’s real estate prices are “not exorbitant” and that the plan will contribute in the restoration of the economy. The plan will now be presented to the Cabinet for evaluation and approval, according to Nipon Boonyamanee, the deputy interior minister. The Thai government recently began offering a number of lengthy (10-year) visas, and there is currently a plan to permit foreign ownership of land, albeit with a high entry cost. The Thai Interior Ministry is working on a scheme…