Thailand relaxes long-term visa regulations, welcoming affluent foreigners and digital nomads.
According to sources from the Thai government, the cabinet on Tuesday eased several conditions for issuing long-term residence visas (LTR visas) to wealthy individuals and high-income digital nomads, aiming to attract more potential foreign residents to Thailand.
The sources stated that the cabinet has approved the proposal from the Office of the Board of Investment (BOI) to relax the conditions for granting LTR visas and to eliminate the Smart visa type, which was seen as overlapping with the LTR visa.
The Thai Investment Commission proposed amendments to the LTR visa issuance rules for three groups: individuals working remotely in Thailand, affluent global citizens, and family members of LTR visa holders.
Digital Nomads
For foreigners wishing to work remotely in Thailand for overseas employers, the cabinet agreed to the Investment Commission's recommendation to lower the employer's income requirement. Over three years, the annual income requirement has been reduced from $150 million to $50 million.
The Investment Commission believes that the $150 million income threshold was too high and did not reflect the capabilities of foreign workers with stable employment.
Affluent Global Citizens
The cabinet agreed to eliminate the requirement for LTR visa applicants to have a continuous annual income of at least $80,000 for two years prior to applying for the visa.
The Investment Commission found that some applicants who met the investment criteria were denied visas because they did not meet the annual $80,000 income requirement, although this was not the primary concern.
Family Members' LTR Visa
The cabinet agreed to eliminate the limit on the number of dependents for LTR visas. Previously, the maximum number of dependents was four, while other visa types had no such restrictions.
The sources also revealed that the cabinet approved the Investment Commission's proposal to cancel most Smart visa categories, retaining only the Smart visa for startup entrepreneurs.
The BOI concluded that other Smart visa categories were similar to the conditions for obtaining an LTR visa. The aim is to promote the LTR visa as the primary visa type for attracting affluent global citizens to Thailand.
