New in Thailand since September 1st 2022, it is possible to stay for a period of 5 to 10 years in Thailand thanks to the digital nomad visa. But be careful, this visa has only the name to attract self-employed to live a few years in Thailand. Indeed, by digging deeper into the criteria to be eligible, we quickly realize that it is reserved for a certain elite. We decided to review together in this new article in order to help you understand everything about the new digital nomad visa in Thailand and maybe consider obtaining it.
Who can apply for a digital nomad visa in Thailand ?
At first sight, all remote workers who work in Thailand for a foreign employer could obtain the LTR (Long Term Resident) Thailand visa commonly called on the media “visa nomade digital“. And this is where all the ambiguity comes from. Because it is not a question of giving this visa to all the self-employed who want to stay in Thailand.
The LTR visa is reserved to several categories of people. In this article, we will focus on the workers wishing to settle in Thailand.
The first profile of worker concerns the freelancers who want to settle in Thailand to work with their foreigners customers. In this case, the personal income must be higher than 80 000 USD per year, but not lower than 40 000 USD per year during the last two years. Applicants must also have a master’s degree or higher, own intellectual property, or receive Series A funding.
The second case is that of an employee employed by a private company who goes to telework in Thailand. The conditions to obtain the LTR visa in Thailand are quite strict and concern mainly the company. This one must be listed on the stock exchange or in activity since at least 3 years. It must also have a turnover of at least 150 million USD over the last three years. And attention, only the targeted industrial companies and the higher education establishments such as the research or training institutes can send their workers in Thailand.
Finally the third case is a worker who has at least 5 years of work experience in the relevant fields of the current job in Thailand in the last 10 years. He can come to live in Thailand and work as anyone in his field.
Anyway, no matter what the profile is, the worker must have received a personal income over the last two years of at least 80 000 USD per year. It is also necessary that this person has a health insurance policy of at least 50 000 USD and covering medical expenses in Thailand. This coverage must remain valid for ten months after the visa qualification endorsement is issued.
You will have understood that this new visa is very selective. Very few auto-entrepreneurs will be able to benefit from it according to these criteria. But obtaining an LTR visa has many advantages for those who will benefit from it.
What are the advantages of this new LTR visa?
LTR visa holders will find it easier to work and live in Thailand. Their visa will initially be valid for 5 years, renewable once. This means that they will be able to live on Thai soil for 10 years without documentation. They will be exempt from the 4:1 Thai to foreigner employment requirement in case they set up a business in Thailand. They will not need a permit to enter the country and they will be able to work in Thailand legally thanks to a digital work permit valid for the duration of the visa. They will be taxed at 17% on their income. This is very interesting compared to the european countries tax rate. Finally, the people who will be holders of an LTR visa will have an easy way to obtain the necessary papers for their legalization on the territory. They will be in a way, privileged.
How to apply for an LTR visa?
For your LTR visa application, we recommend that you contact an agency. Indeed, doing the steps yourself at the embassy could be tedious. Yes, this elitist visa is also very controlled at the beginning. It would be a shame not to benefit from it because of a bad procedure.
Contact a professional to prepare your arrival in Thailand!