Long-Term Residence Visa (LTR)
Tax Exemption?
Thailand Tax Exemption:
In 2022, Thailand launched the Long-Term Resident (LTR) Visa to attract qualified expatriates, investors, and retirees, offering them a long-term residency option. This initiative was introduced by the Thai government, led by the Ministry of Interior, in collaboration with the Ministry of Tourism and Sports and the Ministry of Public Health. This article explores the different categories of the LTR Visa, their respective requirements, and the beneficial tax exemptions.
Benefits of the LTR Visa
Wealthy Citizens and Wealthy PensionersVisa:
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A 10-year visa.
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No 90-day immigration checks.
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Fast Track at all international airports.
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Tax exemption on income from abroad (only for LTR Wealthy Citizens and LTR Wealthy Pensioners).
Thailand LTR Visa
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Objective and Categories of the LTR Visa
The LTR Visa aims to position Thailand as a global centre for wealthy citizens, retirees, and highly skilled workers.
There are four main categories of the visa, each with specific requirements:
Wealthy Global Citizens:
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- Target Group: Wealthy individuals who wish to invest in Thai economic sectors.
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Requirements: Proof of an income of at least USD 80,000 over the past 2 years, assets of at least USD 1 million, and a planned investment in Thailand of at least USD 500,000 within the first year of receiving the visa. This investment can be in real estate, a company, or government bonds.
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Foreign income transferred to Thailand will be exempt from income tax.
Wealthy Pensioners:
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Target Group: Retirees with a high and stable income.
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Requirements: Must be at least 50 years old, with a passive income of at least USD 80,000 per year from pensions, dividends, or other passive income, or at least USD 40,000 per year from pensions, dividends, or other passive income and an investment in Thailand of at least USD 250,000 in real estate, a company, or government bonds.
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Foreign income transferred to Thailand will be exempt from income tax.
Work-from-Thailand Professionals:
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Target Group: Professionals who work remotely for companies not based in Thailand.
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Requirements: An income of at least $80,000 USD per year and at least five years of relevant professional experience.
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Tax Relief: Income from Thailand will be capped at 17% for highly skilled professionals.
Highly-Skilled Professionals:
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Target Group: Professionals in key industries important for Thailand's economic development.
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Requirements: A work contract with a Thai company and a salary that exceeds the required minimum amount.
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Tax Relief: Income from Thailand will be taxed at 17% for highly skilled professionals.
Application Process and Support from Our Company
Our company provides comprehensive support in applying for the LTR WGC and LTR WP Visa.
We understand that the process can be complex, especially when it comes to preparing and submitting the required documents:
Application Procedure:
The application can be submitted through the official online portal of the Thai Immigration Department. Extensive documentation, such as a passport, resume, income proof, asset proof, and professional qualifications, is required.
Support from Our Company:
We guide our clients through every step of the application process. From the initial consultation and document preparation to the final application submission, we ensure all requirements are met and assist with any challenges encountered during the process.
Conclusion
The LTR Visa offers significant benefits for those wishing to establish a long-term connection with Thailand. With attractive tax exemptions and a clear focus on target groups, the visa is an excellent choice for wealthy individuals, retirees, and professionals from around the world. With the support of our company, applicants can efficiently and successfully navigate the process to fulfil their dream of living in Thailand.
