Thailand has announced a relaxation of the rules for obtaining a long-term visa (Learn Term Visa, LTR).
Learn Term Visa is provided for 10 years to foreigners of four categories: "Wealthy citizens", "Wealthy Pensioners, Professionals, Highly qualified specialists.
What are the main changes in this visa program?
- The abolition of work experience requirements for specialists in the target industries.
- The abolition of the minimum income requirement for applicants in the categories of "Wealthy citizens" and "Wealthy pensioners" (In Thailand, these are people over 50 years old). The main criterion will be the total amount of available capital or the volume of investments in the country's economy. At the moment, you need to confirm a fortune of $ 1 million or invest in government bonds or real estate in Thailand starting from $ 500,000.
- Lower minimum income requirements for companies that allow employees to work from Thailand.The threshold of minimum corporate income (for the last three years) will decrease from 150 million to 50 million US dollars.
- Teachers of higher educational institutions and vocational schools will be able to apply for a visa.
- Lifting the restriction on the number of dependents coming with the main applicant. Previously, it was possible to bring four family members with you.
The Cabinet of Ministers approved the listed provisions. Next, the bill will be considered in the National Assembly (Parliament), after which it will be sent to the monarch for signature.
The changes will take effect after publication in the Government Gazette (Royal Gazette).
Thailand recently introduced a new, less expensive category of Thailand Elite visa.
In addition, visa for digital nomadsDestination Thailand Visa, but you cannot use it to work for local companies and It is allowed to stay no more than 180 days during the year.
Source: Bloomberg
