reader Posted yesterday at 11:52 AM Posted yesterday at 11:52 AM From Pattaya Mail By Barry Kenyon The Cabinet has agreed changers to some categories of the Long Term Residence (LTR) visa which offers indefinite stays and multiple entries for 10 (actually 5×2) years. The Board of Investment, which hosts the LTR introduced in 2022, had recommended reducing some of the enrolment requirements for rich individuals in order to make the program more popular. Wealthy global citizens no longer need to prove an annual income of at least US$80,000 a year, though they must demonstrate worldwide assets of at least US$1 million and must invest in Thailand at least US$500,000. Separately, the companies sponsoring remote workers now require annual revenue reduced from US$150 million to US$50 million. If the digital nomads work in Thailand with Thai customers, they still require a work permit. There is a wealthy pensioner category for those aged over 50, but the minimum annual income of US$80,000 has been left untouched by the Cabinet. Rich expats wishing to retire in Thailand are sometimes attracted to the LTR as it offers exemption from any income tax from cash transferred to Thailand, avoids the need to report their address every three months and avoids re-registration with immigration on an annual basis. However, there is an audit after five years. Continues at https://www.pattayamail.com/latestnews/news/changes-to-thailands-10-year-visa-dont-impact-on-most-expats-487174 bkkmfj2648 1 Quote
