Still working from home but need a change of environment? Why not work in Thailand as a digital nomad?
The land of smiles is offering a chance for those who want to live and work remotely in a new country under their new long-term resident (LTR) 10-year visa. This program is part of the country's efforts to entice more digital nomads into the country.
LTR visas will be eligible for the following categories of foreigners:
- Wealthy individuals holding at least USD 1 million (P55 million) in assets
- Retirees aged 50 years and older who have an annual pension or individual
- Remote workers (digital nomads) working for well-established overseas companies
- Highly-skilled professionals (experts working in Thai government agencies or Thailand-based research centers, higher education institutions, business entities, etc.)
- Spouses or children of LTR visa holders
As an LTR visa holders, you'll be granted privileges such as discounted personal income tax rate, removal of requirement for employers to hire four Thai citizens per foreigner, fast track at international airports, one year reporting to Immigration instead of 90 days, and overall ease of regulations concerning foreign residents.
LTR visa requirements
For remote workers who wish to apply for the visa, there are other criteria to follow like having a minimum personal income of USD 80,000 (around P4.4 million) per year in the past two years.
Should your personal income be around P2.2 million to P4.4 million, you must have a Master's degree, your own intellectual property, or a Series A funding.
In addition, the company you're working for should be on a stock exchange or in operation for at least three years with combined revenue of at least USD 150 million (P8.3 billion). You must also have at least five years of work experience in the field of your employment.
Lastly, you must have health insurance with at least USD 50,000 (P2.8 million) coverage.
Aspirants can submit their LTR visa application online and can expect the result after 20 working days. Processing fee costs 50,000 Baht (P79,000) per person.
To learn more, visit the Thailand Board of Investment website.