NO&T Asia Legal Review
Since its launch in September 2022, Thailand’s Long-Term Resident (“LTR”) Visa program has attracted significant global interest, receiving over 6,000 applications worldwide, according to data from the Office of the Board of Investment. The majority of the applicants hail from Europe, followed by the United States, Japan, China, and India, with numbers continuing to rise.※1 Despite its attractiveness, some criteria and conditions appeared to be burdensome, with certain financial requirements not fully aligning with the actual financial capabilities of many potential applicants.
Following our previous article outlining the qualifications, criteria, and conditions for the LTR Visa, the Thai cabinet further approved the amendment of certain material criteria and conditions for the LTR Visa on 13 January 2025. These changes introduce relaxations to several material requirements, aiming to make the LTR Visa more accessible and appealing to wealthy individuals and highly skilled foreigners to live, work, or invest in Thailand.※2
In line with the Cabinet’s resolution, the Announcement of the Office of the Board of Investment No. Por. 2/2565 dated 30 June 2022 (the “BOI Announcement No. Por. 2/2565”), as amended, has been repealed and replaced by the Announcement of the Office of the Board of Investment No. Por. 3/2568 Re: Qualifications, Criteria, and Conditions for Long-Term Resident Visa under the Measure to Stimulate the Economy and Investment by Attracting High-Potential Foreign Individuals to Thailand (the “BOI Announcement No. Por. 3/2568”). This announcement has come into effect on 4 February 2025 and applies to all LTR Visa applications submitted from that date onward.
The key changes to the criteria and conditions under the BOI Announcement No. Por. 3/2568, compared to those previously outlined in the BOI Announcement No. Por. 2/2565, can be summarized as follows:
| Topic | Previous Criteria and Conditions under the BOI Announcement No. Por. 2/2565 | New Criteria and Conditions under the BOI Announcement No. Por. 3/2568 |
|---|---|---|
| 1. Dependents (Family Members) |
Dependents of high-potential foreigners are:
In addition, the number of dependents permitted was limited to a maximum of 4 individuals.※3 |
Dependents of high-potential foreigners are:
There will no longer be a limit to the number of dependents.※4 |
| 2. Wealthy Global Citizens | Applicants must submit evidence showing an average personal income of at least USD 80,000 per year for the 2 years preceding the application date. | Evidence showing an average personal income is no longer required. |
| 3. Work-From-Thailand Professionals |
Overseas employers must be:
|
Overseas employers must be:
|
| Applicants must possess the relevant work experience of at least 5 years within the past 10 years as of the date of application. | Work experience is no longer required. | |
| 4. High-Skilled Professionals | Applicants must possess the relevant work experience of at least 5 years in a targeted industry within the past 10 years as of the date of application; except for applicants coming to work in public higher education institutes, public research institutes, public specialized training institutes, public agencies, or applicants with a doctoral degree or above. | Work experience is no longer required. |
| Expanding the scope of certain target industries, i.e., changing the scope of human resource development in science and technology at vocational or higher education levels to professors at vocational or higher education levels. | ||
Save for the amendments under the BOI Announcement No. Por. 3/2568 above, other criteria and conditions, including the application process, for the LTA Visa remain unchanged from those previously set out under the BOI Announcement No. Por. 2/2565. As the LTR Visa is intended to serve as the primary channel for attracting high-potential foreigners, certain overlapping visa categories under the Smart Visa program have consequently been discontinued.※5 The newly relaxed criteria and conditions are therefore expected to enhance accessibility to the LTR Visa for qualified foreigners, fostering long-term economic growth and promoting high-skilled employment opportunities in Thailand.
*1
BOI Press Release No. 8/2568 (Aor. 5) dated 15 January 2025
*2
Thailand’s Cabinet Approval on 13 January 2025
*3
Clause 1(2) of the Notification of the Ministry of Interior Re: The Permission Granted to Certain Categories of Foreign Nationals to Reside in the Kingdom of Thailand Following Measure to Stimulate the Economy and Investment by Attracting High-Potential Foreign Individuals to Thailand dated 25 May 2022 and Clause 1.2 of the Order of the Immigration Bureau No. 150/2565 Re: Guidelines for the Permission Granted to Certain Categories of Foreign Nationals to Reside in the Kingdom of Thailand Following Measure to Stimulate the Economy and Investment by Attracting High-Potential Foreign Individuals to Thailand dated 22 August 2022.
*4
Thailand’s Cabinet Approval on 13 January 2025. As of the date of this newsletter, the regulations that would relax the number of permitted dependents are still pending issuance by the relevant authority. Therefore, the requirements under the Notification of the Ministry of Interior Re: The Permission Granted to Certain Categories of Foreign Nationals to Reside in the Kingdom of Thailand Following Measure to Stimulate the Economy and Investment by Attracting High-Potential Foreign Individuals to Thailand dated 25 May 2022 and the Order of the Immigration Bureau No. 150/2565 Re: Guidelines for the Permission Granted to Certain Categories of Foreign Nationals to Reside in the Kingdom of Thailand Following Measure to Stimulate the Economy and Investment by Attracting High-Potential Foreign Individuals to Thailand dated 22 August 2022, regarding the number of dependents, remain in effect and apply to the LTR Visa applications.
*5
Currently, only the Smart Visa for startup entrepreneurs (SMART – S) is available under the Announcement of the Office of the Board of Investment No. Por. 5/2568 Re: Qualifications, Criteria, and Conditions, for Special Non-Immigrant Visa Endorsement (Smart Visa) dated 18 February 2025.
This newsletter is given as general information for reference purposes only and therefore does not constitute our firm’s legal advice. Any opinion stated in this newsletter is a personal view of the author(s) and not our firm’s official view. For any specific matter or legal issue, please do not rely on this newsletter but make sure to consult a legal adviser. We would be delighted to answer your questions, if any.
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