Connect with us

The News

Who is eligible for a ฿50K 10 year LTR visa in Thailand? The fine print.

Samui Times News

Published

on

Who is eligible for a ฿50K 10 year LTR visa in Thailand? The fine print.
  • follow us in feedly

Today, Thailand’s Cabinet announced that the fee for a 10 year Long Term Resident visa would be halved from ฿100,000 to ฿50,000 to attract foreigners with ‘high potential’ to reside in the kingdom. Not only has the fee been reduced, but the eligibility criteria has become more “flexible,” according to Deputy Spokesperson for the Prime Minister’s Office Ratchada Thanadirek. The Cabinet hopes the changes will increase foreign investment and boost the economy.

The LTR visa is targeted at four groups of foreigners: 1) wealthy foreigners 2) retirees 3) working foreigners and 4) specialists. All groups are welcome to bring their spouse and up to four children under the age of 20.

The groups have different requirements…

Groups 1 & 2: Wealthy Foreigners and Retirees

  • Must purchase a health insurance policy which covers medical expenses of no less than US$50,000 for at least 10 months starting from the date of the application OR provide a social security certificate covering medical expenses in Thailand OR provide proof of at least US$100,000 held in a Thai or foreign bank account for at least 12 months prior to the application date.
  • Must have evidence of an average income of at least US$80,000 for at least 12 months prior to the application date.

Groups 3 & 4: Working Foreigners and Specialists

  • Must show an employment contract or service contract with a domestic OR a foreign business.
  • Must provide proof of 5 years of work experience in the relevant industry conducted within 10 years of the application date. EXCEPTIONS: those who work in the following are NOT required to provide evidence of work experience: government research institutions, higher education institutions, specialised training centres, government agencies and PHD graduates.

The changes will come into effect 90 days after the Cabinet’s official announcement in the Royal Gazette.

SOURCE: Workpoint Today

 

Courtesy ofThaiger News

Stay updated with Samui Times by following us on Facebook.

Trending