Tamlyn RichardsThailand is one of the most visited nations in the world. And for good reason — its golden beaches, ancient ruins, delectable food, and grand royal palaces are astounding.
If you thought this country couldn’t be any more attractive, think again; this Sep 2022, there’ll be a whole new reason to love the Land of Smiles. While Thailand digital nomads are now a familiar concept (with Chiang Mai being one of the top cities for digital nomads), it isn’t until now that Thailand will be rolling out a new visa termed the Long-Term Resident (LTR) Visa. This will be a 10-year visa with tax and non-tax benefits to draw in “high-potential” (see below for more information) foreigners. The best part? Applications open on 1 Sep 2022!
Also read: Indonesia Plans to Introduce a ‘Digital Nomad Visa’ for Destinations Like Bali
Image credit: instagramfotografin
With the rise in people looking to work from anywhere, countries worldwide have adopted policies to appeal to high-potential foreigners. So, if you’re ready to take this next step in your career, here are the requirements you should meet to apply for the Long-term resident visa:
Are you eligible for the Thailand digital nomads visa?
According to the Thai Board of Investment, a successful applicant for Thailand’s Long-Term Resident Visa will fall into one of these five categories:
- Affluent global citizens: over US$1 million in assets.
- Wealthy pensioners with a stable income and aged 50 and above.
- Remote work-from-Thailand workers under well-established overseas companies.
- Highly-skilled experts working in Thai government agencies or Thailand-based research institutes, higher education sectors, business ventures, etc.
- Dependents — a cap of four, either spouses or children of Long-term resident visa holders.
Image credit: mgcthu
With the exception of dependents, Long-term resident visa applicants (regardless of the category) must have: earned an annual income of US$80,000 for the past two years, at least five years’ experience in a relevant occupation, and a combined company revenue of at least US$150 million in the last three years. The exception to the annual income requirement is if you have a special skill or advanced degree.
To global citizens, who face an average of 23-percent income tax brackets (the US has a 35-percent bracket), the special Long-term resident 17-percent income tax cap sounds pretty sweet. Bonus points if you’re employed in the technology sector or own more than US$1 million in financial assets.
Also read: 20 Best Countries With Digital Nomad Visas for Long-Term Workcations
How do you feel about the Thailand digital nomads visa? Are you looking to apply for it? If not, what’s holding you back? We’d love to hear about it on our Facebook Page.
