Are Thailand's New 10 Year Visas worth it for you?
Is Thailand's new Long Term Residence visa for you? Do you qualify?
Are you confused about which visa to get and what documents you need? Worried about your visa application being rejected or not having the right financial proof? Unsure how to get Thai health insurance or extend your stay? Struggling with bringing your family along? Let Thai Kru guide you through every step and make the process smooth and stress-free.
We've been taking a long look and deep analysis at Thailand's new LTR (Long Term Residence) Visa.
While there are still some practical questions to be answered, here is how it could work for you.
First, the visa has some benefits:
- You can invest in property or government bonds in Thailand
- The visa is valid for 5 years and renewable for 5 more if you still meet the qualifications
- Once a year 90 day report.
- "Elite Visa" level status at the airport.
There are basicallty 4 categories of people who qualify for this visa. We will focus on the most likely ones.
Retirees
If you have income (from any source) of 80,000 USD per year for the past 2 years you can get this visa. For those with lower income above 40,000 USD you do need to invest 250,000 USD in Thailand.
Digital Nomads
If you work at a large public company, or a private company with a combined income of 150 Million USD over the past 3 years, and make 80,000 USD you qualify. If you make 40,000 USD of more for the past 3 years you do need to have a masters degree or higher.
The other two are for wealthy foreigners who want to invest at least 500,000 USD in Thailand and for those who want to work in Thailand or setup a business. Both of these categories require very high investments.
What are our thoughts?
We believe that for most people with 10 year outlook in Thailand, if you do not plan to work in Thailand, the Elite Visa is still a good option. You can still buy condos with the Elite Visa.
What is not clear with the LTR visas is the kind of property one can buy. Once we know that we will let you know.
If you are a digital nomad working in a business that's bringing in less than 50 Million USD per year, forget it.
If you work at a big public company or a multinational private company in your country for many years and you are now allowed to work from
anywhere, the new digital nomad visa is for you.
If you want to setup a business in Thailand, we recommend going with the normal Business Visa that has been in existence for decades.
As we learn the intricate details and caveats about these visas, we will have videos and other materials coming out soon.
The LTR Visas are ok for certain narrow bands of people, and if you want to find out more and if you qualify, we encourage you to request a consultation to talk about your options.
Are you confused about which visa to get and what documents you need? Worried about your visa application being rejected or not having the right financial proof? Unsure how to get Thai health insurance or extend your stay? Struggling with bringing your family along? Let Thai Kru guide you through every step and make the process smooth and stress-free.