Thailand eases visa rules for professionals, wealthy foreigners

Thailand has revised its long-term resident (LTR) visa rules to attract skilled professionals, investors, and wealthy foreigners. Changes include removing the income requirement for wealthy applicants, lowering corporate revenue thresholds, expand...

By Bloomberg | Jan 15, 2025, 11.23 AM IST

Thailand’s cabinet this week approved changes to the nation’s visa rules to make it more attractive for skilled professionals, investors and wealthy foreigners to secure long-term residency permits.

The changes include the scrapping of a minimum annual income requirement for those seeking visas in the wealthy global citizens category and a reduction in the minimum revenue requirement of companies allowing employees to work from Thailand.

The long-term resident visa holders will also no longer face any restrictions on the number of dependents they can bring in, the Board of Investment, which overseas the program, said in a statement Wednesday. Parents and other legal dependents can reside with the visa-holders as opposed to just four dependents allowed earlier.

ALSO READ: Thailand to launch e-Visa for Indian travellers from January 2025; check details

First launched in 2022, Thailand’s long-term resident visa offers applicants a 10-year residency, digital work permit, personal income tax privileges among other benefits and was billed as a way to boost the economy in the post-pandemic era. The facility has been availed by more than 6,000 applicants with Europeans topping the list.

“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’s Secretary-General Narit Therdsteerasukdi said in the statement. “Smooth visa procedures are an essential part of our focus on the ease of doing business.”

ALSO READ: Thailand's 5-year visa for digital nomads: Everything you need to know

The minimum annual income requirement for wealthy global citizens has been removed to prioritize the core requirement of cumulative wealth and investments in Thailand, the board said. The move aligns with the goal of encouraging greater foreign investment activity in the country, it said.

ALSO READ: Thailand tourism bounces back with 35 million visitors in 2024; India among top 3 source countries

Highlights of changes to the LTR visa program include:

Lowering of corporate revenue requirement for foreign companies sponsoring visa applicants to a minimum $50 million over the last three years from $150 million.
Employees of subsidiaries of major multinational corporations are now eligible for visas, provided they can demonstrate financial stability through the parent company’s financial statements.
Expanding the list of target sectors for highly skilled professionals to disaster and risk management as well as integrated innovation. The list previously focused on science, technology and other target industries.
Removes the requirement for a minimum of five years of work experience in a relevant field for professionals.

Top 10 non-Schengen countries you can visit with a Schengen visa

1/11

A multiple-entry Schengen visa allows access to 31 countries within the Schengen Zone, but its benefits extend beyond Europe. Several countries offer entry to Indian travellers with this visa. However, it's important to be aware of the fine print, as visa regulations can change unexpectedly—so always verify with the relevant embassy before you travel.