New residency visas announced by Cabinet aimed at ‘high-potential’ foreigners

[webfact]

File photo for reference only

 

The Thai Cabinet on Tuesday approved in principle a couple of new visas aimed at luring “high-potential” foreigners to Thailand by offering them residency visas. 

What they term “high-potential foreigners” they have categorised into four groups: 

 

Wealthy global citizens, wealthy retirees, people who want to work from Thailand, and high-skilled professionals.

Firstly, the Interior Ministry will issue eligibility rules for the long-term resident (LTR) visa. 

The LTR visa will cost LTR’s THB10,000 per year and will last for five years, and then if required can be extended for a further 5 years.

The LTR visa will cover the holder and up to four dependents (spouse and children aged under 21). Holders can apply for a Thai work permit.

Secondly the Labour Ministry will issue rules on five-year work permits for LTR visa holders who are employed or self-employed in Thailand.

At the moment Cabinet has only approved these new measures, so any changes will need to wait until it has been officially announced in the Royal Gazette.
 

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[Thailand]

Been here 20 years am I an LTR?

 

Edited January 19, 2022 by ubonjoe
removed unneeded quote of OP

[DrJack54]

1 minute ago, Thailand said:

Been here 20 years am I an LTR

Sounds like your a farang with a temporary permission of stay.

Most likely 12 months at a time.

 

[DrJack54]

10 minutes ago, webfact said:

The LTR visa will cover the holder and up to four dependents (spouse and children aged under 21). Holders can apply for a Thai work permit

Thinking this might be attractive for some with non Thai family

Edited January 19, 2022 by DrJack54

[ezzra]

I was always told by my parents and teachers and employers that I'm a "high potential" person, and now the the Thai government are also endorsing these views.. lucky me...

[Thailand]

1 hour ago, DrJack54 said:

Sounds like your a farang with a temporary permission of stay.

Most likely 12 months at a time.

 

Sorry, it was sarcasm.

Just wondered how long one needs to be here to be a long term resident!

[DrJack54]

6 minutes ago, Thailand said:

Sorry, it was sarcasm.

Just wondered how long one needs to be here to be a long term resident!

Unless you go through the process to become "Permanent Resident" then basically your a long term tourist. 

I'm happy with being one of those..

[Enoon]

It'll be 10,000 fee to issue visa.

 

Financial requirements to qualify for visa will be something else entirely.

 

Don't get your hopes up.

[tomster]

I still can't get my head around why they don't offer a long term visa/extension for the under 50's with the same financial requirements as the retirement extension.

 

Soooooo many people under 50 leave and take their online incomes with them to spend else where - they are pointlessly losing millions of dollars for what?

 

Just does not make any sense at all.

[DrJack54]

1 minute ago, tomster said:

I still can't get my head around why they don't offer a long term visa/extension for the under 50's

They do PE visa. 

Buy one. 

[userabcd]

3 minutes ago, Enoon said:

It'll be 10,000 fee to issue visa.

 

Financial requirements to qualify for visa will be something else entirely.

 

Don't get your hopes up.

Yep, a lot of details missing which will when finalised be probably complicated and out of the reach of most people.

[tomster]

13 minutes ago, DrJack54 said:

They do PE visa. 

Buy one. 

Thailand Elite is simply not an option for many people.

 

Personally I have Thai kids and a company here with a Non O extension based on my kids and a work permit attached to my company that in total costs me circa 50k per year to maintain and is almost zero hassle.

 

It's not me that needs to "Buy one" Dr Jack - but perhaps if you want to make comments like that you could do me a favour and "Do one"?

[DrJack54]

6 minutes ago, tomster said:

Thailand Elite is simply not an option for many people.

 

Personally I have Thai kids and a company here with a Non O extension based on my kids and a work permit attached to my company that in total costs me circa 50k per year to maintain and is almost zero hassle.

 

It's not me that needs to "Buy one" Dr Jack - but perhaps if you want to make comments like that you could do me a favour and "Do one"?

Not interested in what you have in order to live in Thailand.

You described under 50,s options.

I listed one and you now go off to a tangent based on having Thai kids. Irrelevant.

Under 50,s can look at obtaining a non B work.

A PE visa I outlined. 

Investment visa. Think it's 10milion in buying new condo or bonds etc

Not every country has these options. 

Edited January 19, 2022 by DrJack54

[tomster]

12 minutes ago, DrJack54 said:

Not interested in what you have in order to live in Thailand.

Then why did you say "Buy one"?

[DrJack54]

3 minutes ago, tomster said:

Then why did you say "Buy one"?

Because it's an option.

If I was under 50, I would buy an elite visa in a heartbeat.

If someone can't afford one then boo hoo. 

[Rimmer]

A baiting post has been removed

[Mavideol]

will believe it when I see it.....so far they are just blowing out hot air as their weekly BS standard

[The Hammer2021]

It was "not high potential" tourists who turned an impoverished suburb in Bangkok into a wealthy area with international fame. It was backpackers and budget  travellers who put The Kao San Rd and Banglampoo on the map.

[Thailand]

1 hour ago, DrJack54 said:

Unless you go through the process to become "Permanent Resident" then basically your a long term tourist. 

I'm happy with being one of those..

But I guess that an LTR is not a PR or what?

 

But I believe I am resident of Thailand and I am not a tourist. I get charged for a residence certificate to do some things, not a tourist certificate. The fact that I renew an extension of stay every year does not  mean I am not resident and I have been here many years so would already make me an LTR but not according to government whims.

There is a difference between residence and permanent residence the latter I have no interest in.

[DrJack54]

7 minutes ago, Thailand said:

But I guess that an LTR is not a PR or what?

 

But I believe I am resident of Thailand and I am not a tourist. I get charged for a residence certificate to do some things, not a tourist certificate. The fact that I renew an extension of stay every year does not  mean I am not resident and I have been here many years so would already make me an LTR but not according to government whims.

There is a difference between residence and permanent residence the latter I have no interest in.

Don't confuse being a Permanent Resident of Thailand with living in Thailand.

You refer to obtaining a "residence cert". That is required for TDL etc. 

That has nothing to do with having Permanent Resident status.

I have lived here 10 years. I'm not a PR. 

I have a TEMPORARY permission of stay that I renew every year. 

Guessing your in same boat as myself.

You can check some threads to find out what's required to become PR. 

 

Edited January 19, 2022 by DrJack54

[Thailand]

12 minutes ago, DrJack54 said:

Don't confuse being a Permanent Resident of Thailand with living in Thailand.

You refer to obtaining a "residence cert". That is required for TDL etc. 

That has nothing to do with having Permanent Resident status.

I have lived here 10 years. I'm not a PR. 

I have a TEMPORARY permission of stay that I renew every year. 

Guessing your in same boat as myself.

You can check some threads to find out what's required to become PR. 

 

I know what PR is and I know what residence is,  no confusion on my part. 

[DrJack54]

1 minute ago, Thailand said:

I know what PR is and I know what residence is,  no confusion on my part. 

You wrote this......

 

"But I guess that an LTR is not a PR or what?"

 

Sound pretty confused to me.

 

 

[Hans Johnson]

But same game. Report to immigration every 12 months and 90 day reporting 

[Gottfrid]

4 hours ago, Thailand said:

Been here 20 years am I an LTR?

 

No you are an RLT (Retired Lingering Tourist)

[Badger18]

If it's been approved the small print must have been worked out. Is it available anywhere?

[Hardy99]

2 hours ago, tomster said:

I still can't get my head around why they don't offer a long term visa/extension for the under 50's with the same financial requirements as the retirement extension.

 

Soooooo many people under 50 leave and take their online incomes with them to spend else where - they are pointlessly losing millions of dollars for what?

 

Just does not make any sense at all.

Sorry about my question .. where do you pay your tax on the income?? In Thailand? Most of the so called "Nomads" dont pay any tax anywhere... can also call them kind of "sponger"..  they believe the few dollars they spend for rent and food are much - the infrastructure the others can pay 

 

[Badger18]

5 minutes ago, Hardy99 said:

Sorry about my question .. where do you pay your tax on the income?? In Thailand? Most of the so called "Nomads" dont pay any tax anywhere... can also call them kind of "sponger"..  they believe the few dollars they spend for rent and food are much - the infrastructure the others can pay 

 

No doubt Tomster can speak for himself but he said he had a Thai company so is presumably paying tax in Thailand.

 

The point you're making here is exactly the reason why they have made the eligibility requirements fairly high - people in the remote worker category won't pay tax but they have to be relatively high earners who can be expected to spend a decent amount in Thailand.

 

The attraction for me is not the work permit but the ability to buy land. That puts this visa in a different category from any of the others, especially for those of us with no intention of getting married.

[Thailand]

1 hour ago, DrJack54 said:

You wrote this......

 

"But I guess that an LTR is not a PR or what?"

 

Sound pretty confused to me.

 

 

You misunderstood my subtleties, but never mind it can be difficult for some. 

[DrJack54]

27 minutes ago, Thailand said:

You misunderstood my subtleties, but never mind it can be difficult for some. 

Your not the only one to be using the term "resident of Thailand" thinking it means something.

Added to the fact that the term Residence Certificate is mentioned in Thai car license and for opening Bank account etc. etc.

 

I'm guessing your not aware of the requirements for PR in Thailand.

 

 

 

[Thailand]

18 minutes ago, DrJack54 said:

Your not the only one to be using the term "resident of Thailand" thinking it means something.

Added to the fact that the term Residence Certificate is mentioned in Thai car license and for opening Bank account etc. etc.

 

I'm guessing your not aware of the requirements for PR in Thailand.

 

I know exactly what I mean, you think you know what I mean, you obviously don't.