The government anticipates that the enhanced LTR visa will attract one million individuals annually, thereby bolstering the economic recovery following Covid-19. The government anticipates a windfall of 1 trillion baht. 50,000 baht is not much money. As with all lovely things, there is a catch. Foreigners are required by the Thai government to jump through hoops and mount tall obstacles. Each group must satisfy the requirements. Foreigners who wish to reside in Thailand must possess $1 million in assets and earn $80,000 annually. They must also invest $500,000 in Thai real estate or other assets. Foreign retirees and specialists are need to earn $80,000 annually. These international specialists must have five years of industry experience. Foreigners who wish to work in Thailand must earn a minimum of $80,000 per year and have worked for at least five years in firms with $150 million in revenue over the previous three years. Visa provides coverage for up to four family members, including minors. When comparing Thailand’s options to those of other nations, one cannot help but conclude that the Thai government must work harder and lower the bar or risk losing potential residents to countries with superior packages. This month, the Philippines introduced the Special Investors Resident Visa (SIRV), which grants permanent residency to foreign investors who invest at least $75,000 USD. In contrast to Thailand, foreign investors in the Philippines are promptly granted residency. SIRV holders, their spouses, and their children may enter and exit the Philippines indefinitely.
Others? Cambodia’s Cambodia My Second Home visa grants citizenship to investors who invest $100,000. The applicant must make an investment with the Khmer Home Charity Association. The visa and Thai LTR permit employment. The 20-year Premium Visa in Malaysia costs $220,000. Malaysia My Second Home is available to anyone over 35 with financial assets of $320,000 and a monthly income of $8,600. In January 2019, Singapore will adopt the ONE Pass, a five-year visa program. Applicants must have a stable income of at least 700,000 baht per month and have worked abroad for at least one year. Those with outstanding accomplishments in the arts and culture, sports, science and technology, and education and research are eligible for the ONE Pass even if they do not meet the salary criterion.
Thailand is certain that its improved LTR visa would attract wealthy foreigners despite other nations’ more alluring offers. On September 1, Thailand issued an updated LTR visa, joining Cambodia, Singapore, Malaysia, and the Philippines. To lure international professionals, wealthy people, retirees, and laborers, the Thai government reduced the cost of a 10-year LTR visa from 100,000 baht to 50,000 baht.
To entice visitors from other countries, Thailand could modify its LTR visa
One Comment
Leave a Reply
More from ThailandMore posts in Thailand »
- Eda Ezrin and Co. Arrested in Thailand: Methamphetamine Charges Shake Malaysian Pop Star’s World
- Thai Workers in Israel: Navigating Opportunity Amid Conflict in 2024
- Thailand Sends Workers to Israel Amidst Conflict: Navigating Risk and Opportunity
- Eda Ezrin’s Unexpected Arrest: Malaysian Pop Icon Entangled in Thai Drug Bust
- Top 20 Cannabis Shops: Where to Buy Weed in Uttaradit Vol 1, 2024
- BITKUB SUMMIT 2024: Transforming Thailand’s Future with Blockchain Visionary Jirayut Srupsrisopa
- Pioneering Family-Friendly Workplaces: UNICEF’s Call for Extended Paid Parental Leave in Thailand
- DBS Denla British School Named Parents’ Choice Best Kindergarten at theAsianparent Awards 2024
- Koh Kut Sovereignty and the Thai-Cambodian MoU: Navigating Political Tides in 2024
- Revolutionizing Thai Kitchens: Ms. Thandar Soe Leads TDS Electronics’ Eco-Friendly Innovations
- Gift to Give #6 Charity Festival: Celebrate the New Year with Meaningful Shopping at MBK Centre 2024Gift to Give #6 Charity Festival: Celebrate the New Year with Meaningful Shopping at MBK Centre 2024
- Thailand Prioritizes Safety in Labor Export Amid Rising Middle East Tensions
More from TourismMore posts in Tourism »
- Destination Thailand Visa (DTV): The Digital Nomads Visa
- How to select a Trustworthy Visa Agency in Thailand
- 🌿 🇹🇠Cannabis in Thailand: The Fight for Freedom Continues
- Interactive Platform Maps Out Thailand’s Thriving Cannabis Landscape
- The first Phuket Cannabis Cup – March 25th
- eSIMs – The Future of Mobile Connectivity for Traveling to Thailand
- Lunar surge may top 1.8 million traveler at airport
- Thailand will begin collecting 300 THB tourist fee in June.
- Thailand to Offer Free Covid-19 Tests and Vaccines to Visitors: Here’s How!
- After the outbreak, Thailand’s Tourism Authority will organize its first roadshow in China
- Koh Samui ferries get ready to receive returning Chinese visitors
- The first Full Moon Party of the year is held on a Thai island, attracting 20,000 tourists
More from VisaMore posts in Visa »
- Destination Thailand Visa (DTV): The Digital Nomads Visa
- How to select a Trustworthy Visa Agency in Thailand
- E-visas are currently accessible in 38 cities and 23 nations
- Immigration authorities will revise visa extension requirements
- Utilizing facial recognition technology, an anti-overstay campaign is implemented
- Thailand increases its e-Visa service to 23 countries around the globe
- Are you a digital nomad or are you constantly on the move?
- Philippines provides an appealing alternative to Thailand’s 10-year LTR visa
- Thailand will continue the Smart Visa program to attract talent
- Affluent Americans, Chinese, and Brits lead the list of new Thai visa applicants
- 10 Year Long Term Resident Visa – Applications Open
- Will the LTR visa’s benefits tempt foreigners to contribute to the economy?
the Thai government reduced the cost of a 10-year LTR visa from 100,000 baht to 50,000 baht.””
That is about $ 15.000. But next to that much of the paperwork is expensive. Income letter translated, notarycost etc. So add another 50.000 baht at the costs.