Thailand has implemented the Long Term Resident Visa (“LTR Visa”) plan since September 2022. The plan works well and is popular amongst eligible foreigners.
AAs of March 2023, the BOI reported that BOI received approximately 3,000 LTR Visa applications for four categories of eligible foreigners, i.e. wealthy global citizens, wealthy pensioners, work-from-Thailand professionals, and highly-skilled professionals, including their dependents (spouses and children).
In this article, we share with our readers some tips for filing an application for a Work-from-Thailand Professional LTR Visa (“WTP LTR Visa”) up to issuance of the WTP LTR Visa. The WTP LTR Visa is one of the most popular LTR Visa types applied for by eligible foreigners.
We summarized the four major qualification requirements for the WTP LTR Visa below. All the amounts of funds are in USD, except where designated with “THB”. Each applicant must meet all these four requirements.
(1) The applicant has personal income not less than 80k per year in the past 2 years. If the personal income is lower than 80k but not lower than 40k per year in the past 2 years, the applicant must have a master’s or higher degree or own intellectual property or receive a Series A funding of not less than 1 million.
(2) The current employer is a public company listed on a stock exchange outside Thailand, or a private company operating abroad for at least 3 years with consolidated revenues not less than 150 million in the immediately past 3 years.
(3) During the past 10 years, the applicant had working experience of at least 5 years in the field relevant to the applicant’s current employment.
(4) The applicant has a health insurance package with the minimum coverage of 50k for a period of at least 10 months, or holds a social security package that covers medical treatments in Thailand, or has a cash deposit of at least 100k in Thailand or abroad for at least 12 months.
The best choice of filing the WTP LTR Visa application is filing it online with the BOI’s website, starting with creating an account with the BOI, completing the online application, uploading the supporting documents, and finally submitting them with the BOI.
Before submitting the completed application, the BOI requires the applicant to submit a proof of the minimum personal income mentioned under the requirement (1) above. The proof can be copies of pay slips, tax returns and bank statements.
The non-listed employer company under the requirement (2) may be acceptable to the BOI if it is a wholly owned subsidiary of a listed company. For the requirement (3), a CV of the applicant and the employment confirmation letters issued by the past employers will be acceptable to the BOI.
Clearance of criminal records is not a requirement. However, the BOI may, at its discretion and on a case-by-case basis, ask for a criminal record clearance letter issued by the police or the other relevant authority in the home country of the applicant.
Qualification Endorsement Letter (“QEL”)
The BOI issues a QEL online after the BOI has found that the application and the supporting documents as filed are completed and that the applicant has met all the qualification requirements. The QEL is the key document for the WTP LTR Visa issuance. It is valid for 60 days after its issuance date.
Before the BOI issues the QEL, in case the applicant holds another type of Thailand visa, such as a Non-B visa or a Non-F visa, the BOI will first require the applicant to have his/her existing visa cancelled by the Immigration Office. Upon the cancellation of the current visa, the Immigration Office will give to the applicant a permission to stay in Thailand for a short period.
Issuance of the WTL LTR Visa
The applicant must book a date with the BOI for collecting the WTP LTR Visa at the One Start One Stop Investment Center (“OSOS”) within the 60 days from the QEL issuance date and within the period of the permission to stay given by the Immigration Office. The applicant must pay the processing fee of THB50,000 to the BOI. The BOI can issue the WTP LTR Visa on the date when the processing fee is paid.
The holder of the WTP LTR Visa can work from Thailand for the overseas employer starting from the issuance date of the WTP LTR Visa without obtaining a digital work permit or any other kind of work permit.