Thailand Eases Long-Term Visa Conditions to Draw Wealthy Foreigners and Digital Nomads

[BritManToo]

29 minutes ago, TimBKK said:

what makes Danang so great?

Fantastic beach, clean sand, clean water .......

[StayinThailand2much]

So, they're still trying to attract Goldman Sachs-style staff, working remote... How '2021'! 😆 

[TimBKK]

27 minutes ago, BritManToo said:

Fantastic beach, clean sand, clean water .......

Puts Pattaya’s city beach to shame, of course that’s a pretty low bar.  

[Wake Up1]

9 hours ago, koolkarl said:

Stop forcing foreigners to file a tax return if a tax resident and pay taxes on their world income.  This is absolutely essential in

attracting wealthy foreigners.  After all, the Thai government gives absolutely nothing for paying taxes, no health care, no residence

status.

LTR do not pay tax on income earned outside of Thailand. 

[placnx]

9 hours ago, hotchilli said:

You do have a point there...

Maybe their next strategy will be offering cheap housing for Californians.

Such as Thais in LA. IS Thaitown far from the flames?

[newnative]

12 hours ago, hotchilli said:

Targeting affluent foreigners who have no intention of coming here.

     They're already here--with plenty more on the way.  Pattaya certainly has them.  Mercedes just opened a fancy, new dealership--and I thought the 'old' one--just a few years old--was quite nice.  That one will be for used Mercedes--apparently enough of a market here that it needs its own space.  Just about every other luxury car brand has also set up shop, along with a number of the Chinese brands.  From Audi to Zeekr, they're here.

    Beachside, Arom Wongamat is selling smallish 82 sqm 2-bedroom condos for 16MB.  That's 195,000 baht a sqm.  Copacabana, a fairly new project in Jomtien, has even smaller 72 sqm 2-bedrooms for 18MB.  That's 250,000 baht a sqm. 

    Back in Wongamat, a new project just getting started called Once Wongamat, near the Circle, will have high-floor 73 sqm 2-bedroom condos for 19.3MB, 265,000 baht a sqm.  That project will supposedly be the tallest in the Pattaya area.  Several other mega condo projects, likely equally pricey, are under construction or soon will be.  

    Just for comparison purposes, the 1 bedroom/1 bath condo my spouse and I owned at Northshore was 79 sqm and neither of us thought it was especially spacious.  Paying about double for about the same space as our very nice NS condo means you are attracting some affluent buyers.  As someone who knows a little bit about condos in Pattaya, I am rather astounded that these super-pricey projects have been built with these breath-taking price tags, for not especially spacious condos--and with more proposed.  

    Over on the Darkside, by Lake Mabprachan, D-Space III has pool villas for sale for 49MB.  Siam Royal View has a house listed for 189MB, as well as a number of others ranging from 23MB to 150MB.  One of the larger projects on the Darkside, the starting prices at SRV are now around 18MB for some of the original smaller homes.  As dear old Dad used to say, 'Too rich for my blood.'

    There are new housing projects scattered all over the Darkside, which is a booming area.  Many of the new projects have starting prices of 12MB or more.  One example of what is happening on the Darkside:  The Baan Pattaya company has built 6 projects, all successful.  The first 6 projects had houses with starting prices under 10MB, with somewhat escalating prices as the projects were built and material and land costs rose. 

    Baan Pattaya 7, just breaking ground, is a departure.  The houses will have a completely different look and the starting prices will be much higher--14MB.  This points to where the single-family housing market is heading in Pattaya, with builders targeting the more affluent buyers who are either relocating to Pattaya or are investing in luxury property to rent out--also a growing market here.

     Just scratching the surface with my remarks, but it is indeed eye-opening when my spouse and I drive around and tour some of these really nice, new high-end projects, which we have been doing a lot of lately.  We could probably visit a new project every week and never run out of new ones to visit.   To conclude with what I started with, the affluent foreigners are already here--and have been here for years.  Some are my neighbors.

[Jaggg88]

8 hours ago, 2long said:

Do any of you guys have first-hand experience with the digital nomad thing?

I thought it was show 500k and some evidence of your job for 5 years of up to 180 day stays,

 

This 5.4/1.8 BILLION Baht over three years for the employer sentence in the OP confuses and worries me.

You are confusing DTV with LTR

[khunPer]

Shows that there were after all not that many wealthy people favouring to stay in Thailand...

[BangkokReady]

23 hours ago, ikke1959 said:

Thailand must update their old laws so that foreigners can do volunteer jobs too.. and must be tax friendly, scrap the alcohol control laws, lower the alcohol and foreign food import taxes, and be friendly to foreigners.... That will do more good than easier visa conditions...Don't see a foreigner as an ATM, or a criminal, or someone who will destroy the Thai culture...because that is what is being done now..

 

I don't disagree, but Thailand isn't going to do this anytime soon.  There's no way they're going to return to the "foreigners are nice people who we don't need to fear and should welcome" stance.

[BayArea]

10 hours ago, BritManToo said:

Fantastic beach, clean sand, clean water .......

Da Nang in about 10 years' time will rival Sai Gon and Ha Noi as the major center for business, technology, and tourism in Viet Nam. the gov't has put forth a concerted effort to transform Da Nang into a green city that is livable for both locals and ex pats. It's a clean city considering its growing size. 

[TallGuyJohninBKK]

On 1/14/2025 at 5:04 PM, webfact said:

Appealing to Global Citizens

 

For ‘wealthy global citizens’—an enticing category for high-net-worth individuals—the Cabinet has axed the prerequisite annual income of about 2.9 million Thai Baht (US$80,000) over two years before one can apply for an LTR visa.

 

This move acknowledges that some investment-ready candidates were previously disqualified due to income thresholds, despite their financial contributions aligning with Thailand’s economic goals.

 

The OP report could have been a lot clearer of just what is -- and apparently is NOT -- going on with the abovementioned change.

 

What's not said in the above excerpt re the Wealthy Global Citizens category of LTR visa eligibility is that apart from the now eliminated requirement for $80K USD in annual income, the visa still DOES require a minimum investment of various kinds in Thailand of at least $500K USD -- which is hardly walking around money for most folks. That's a pretty important detail to omit.

 

Meanwhile, there is another different LTR visa category for so-called Wealthy Pensioners age 50 and above. It too currently has an $80K USD annual income requirement, with no mandatory lump sum investment required.  But the removal of the income requirement cited in the OP apparently does NOT pertain to the Wealthy Pensioners category, so it appears that the $80K income requirement still applies for that group.

 

And that means no matter how much money a retiree person might have sitting in their investment / retirement / other accounts, unless they're willing to draw down at least $80,000 of it per year in annual income as shown on their annual tax returns (regardless of whether they actually need that much to live here), the Wealthy Pensioner visa likely isn't going to work for them.

 

Although for the Wealthy Pensioners category, there apparently still remains a different workaround whereby you can get by with only $40K to $80K USD in annual income, IF you're able to also pony up at least a $250K investment in Thailand (in such areas as Thai government bonds, foreign direct investment, Thai real estate, or any combination of those. Again, a $250K cash investment in Thailand isn't something many pensioners are likely going to entertain, IMHO.

 

So all in all, the removal of the annual income requirement for the Wealthy Global Citizens category only -- where a $500K USD investment in Thailand is still required -- strikes me as a whole lot less than it might seem on the surface.

 

[Gknrd]

Affluent foreigners want to be able to breath the air where they live... hahaha

Thailand is a joke , and continues to push out this dribble so a few people will bite that know nothing of Thailand. 

 

Next year rinse and repeat. 

[jaywalker2]

20 hours ago, NoDisplayName said:

 

That legislation hasn't even been written yet. 

Tax residents only pay tax on assessable income remitted.

 

Would you prefer the US system, paying tax on all worldwide income remitted or not, and annual reporting of all financial accounts worldwide?

The US and Eritrea are the only countries in the world that based tax oblligation on citizenship rather than residency. I don't know what relevancy that has.

[jaywalker2]

20 hours ago, NoDisplayName said:

 

That legislation hasn't even been written yet. 

Tax residents only pay tax on assessable income remitted.

 

Would you prefer the US system, paying tax on all worldwide income remitted or not, and annual reporting of all financial accounts worldwide?

By the way, most popular retirement destinations -- Malaysia, the Philippines, Panama, Ecuador, Portugal, Greecee, even France! -- don't tax expat retiree income. And to tax remittances of credit purchases is insane. That's not even income.

[NoDisplayName]

4 hours ago, jaywalker2 said:

By the way, most popular retirement destinations -- Malaysia, the Philippines, Panama, Ecuador, Portugal, Greecee, even France! -- don't tax expat retiree income. And to tax remittances of credit purchases is insane. That's not even income.

 

You don't understand!

Thailand signed CRS!

I can show you a tax form from Zimbabwe.

That means whatever I want it to mean.

[Tomtomtom69]

On 1/15/2025 at 9:10 AM, Celsius said:

I had a friend from my high school days visit me in Bangkok. She flew from Korea after spending some time there. She was complaining about the prices here and how just about everything is more expensive than Korea. She also wasn't impressed with hygiene here, however, she also noted the huge amount of foreigners here compared to Korea.

 

I dunno. I like the mess and Chaos, but forget about the wealthy foreigner. They would be here by now. Thailand gets the refugees.

 

However, aren't there more foreign workers in South Korea compared with Thailand (well, unless we include all the documented and undocumented workers from neighboring countries, but they look similar to Thais). I mean, there are a couple of neighborhoods in Seoul home to foreigners from various Middle Eastern, African and SE Asian countries, something, which may stand out more than even in Thailand. Sure, we have Nana here and there's Pattaya and Phuket too, but overall, you're not going to see a westerner or visible foreigner running a shop anywhere in Thailand, except maybe for Indians. 

 

Thailand has a huge number of foreign visitors, whereas Korea (Incheon) merely hosts millions of foreign transit passengers; most don't enter the country. 

[Tomtomtom69]

On 1/15/2025 at 10:48 AM, Delta Shift said:

 

Too late for that I'm afraid 😄

Danang is already super popular among smart westerners.

I go there every 2-3 months and it's getting busier and busier.

But fear not. There is still massive room for growth and I don't think prices are gonna up substantially anytime soon.

 

I already have my eyes set on Myanmar.

When the war is over (could be soon from what I've read) and before things get back to normal it's gonna one hell of a destination !

That country seems to be pretty clean compared to dirty Thailand and Vietnam.

Anyways... I'm rambling...

 

 

Dream on. And yes, you are rambling. 

 

Nope, Myanmar is much dirtier than Thailand. You either had your blinkers on or didn't notice all the trash being tossed everywhere or burned. It's a much bigger issue than even in Thailand. 

 

War has been raging since 1948, which is almost a lifetime. Unless you live until the year 2100, then chances are, you won't be able to experience a peaceful Myanmar in your lifetime. Yes, the rebels COULD win over the junta, but that will cause MORE chaos (think Syria for example) rather than less. How are all the different ethnic groups going to come together and reconcile if there's such a power vacuum? Clearly, you know almost nothing about geopolitics and believe in unicorns and rainbows. 

 

The Burmese (which are very ethnically diverse) are battle hardened people; they're not going to go from decades of war to peace in an instant. It doesn't work that way. 

 

I agree with you that it's a fantastic country, but even during the relatively calmer years during ASSK's reign between roughly 2013 and early 2020, the country was a far cry from Thailand in almost every respect. Foreigners faced noticeably less freedom than in Thailand. 

 

Foreigners still faced travel restrictions as well - many parts of the country could not legally be accessed by foreigners (it's a lot worse now). While Chinese, Thais, Laotians and other Asians who could blend in, might have been able to sneak across the border and visit certain otherwise "closed" areas, us farang stand out too much to allow that to happen. Again, some limited exceptions exist, but overall, if you're a westerner, you were treated harshly if attempting to enter or found present within a restricted area. Fines, detention and possible deportation were all on the cards and of course, it's even worse now. My point though is to illustrate how it was like during the "good years". 

 

Foreigners could only drive vehicles registered in other countries into Myanmar on a tour (except for limited travel in border areas) partly due to Myanmar's penchant for control but also because they were terrified that we might encounter trouble or venture into restricted areas if we were given "too much freedom" to roam where we wanted, never mind that foreign plates would stand out anyway.

 

Poor infrastructure. Regular blackouts have always been a feature of Burmese life, for decades now. 

 

Dual pricing is more common than in Thailand, with domestic airlines and most hotels practicing it. Burmese pay less than foreigners to stay just about anywhere.

Other than in Yangon, Mandalay, Pyin Oo Lwin, Hpa-an, Naypyidaw, Mawlamyine, Ngapali, Ngwesaung, Inle Lake, Bagan and a few other places, accommodation is poor quality and massively overpriced for what you get. 

 

A lot of things just don't work.

 

Hospitals are in poor shape. Rich Burmese come to Thailand or go to Singapore for their medical care. 

 

Foreigners can't get bank loans. Foreign tourists aren't legally allowed to stay anywhere but in registered hotels, resorts and other tourist related lodging. 

 

Legislation barely exists to cover a myriad of policy that pertains to foreigners living in and operating in the country, other than restrictions designed to make life difficult for us.

 

So, if you do move there, expect it to be rough. You might have an OKish life if you're under 60, living in Yangon and don't have any medical issues, but once you're older, you're not going to be staying there for sure. You'll come back to Thailand in a heartbeat or return to your home country. 

[Tomtomtom69]

On 1/15/2025 at 9:58 AM, spidermike007 said:

An incredibly simplistic approach to a very complex problem there is a reason why wealthy tourists are avoiding Thailand, and have been for some years now, there are a few here but very few. 

 

Lower luxury taxes to 20%. This would help Thailand to attract some wealthy tourists again. Most wealthy people love to spend real money while on vacation. Contrary to what you think, wealthy foreigners are NOT dumb. They do not enjoy paying for stunningly over priced items, and will wait for their next trip to London, Hong Kong, Singapore, New York, Nassau, or Dubai to buy a handbag at what it should cost, rather than what you think foolish people will pay.

 

1. Improve traffic safety.

2. Improve immigration service.

3. Get rid of the toxic army.

4. Address corruption.

5. Pay attention to air quality.

6. Stop treating tourists like dogs. This applies to the govt., not the people.

 

That is just a start. I could go on for days. Do not expect the wealthy tourists to return. They come here once, if they come at all. And they do not return for a dozen good reasons like the lack of top quality service, expertise, shopping, English skills, sommelier service, fairly priced world class wine, high standard F & B, and the list goes on.

 

1. Most developing countries have problems with traffic safety. This isn't a primary concern for most people moving out to Thailand, to be honest. I just drove back to Thailand from Cambodia and to be frank, traffic there, especially in Phnom Penh, is even more chaotic than here. 

 

2. Agreed. This is a very important one

 

3. Well - can't exactly disagree with you there, but the army will probably always have a major role here. I am hopeful that mandatory conscription will end (as they've been talking about) but could still take a few more years

 

4. Well, corruption is never going to go away. It's part of the DNA of people in this part of the world. 

 

5. Difficult and requires co-operation with neighboring countries as well. Of course, plenty of air pollution is generated within Thailand; but unless the government greatly improves garbage collection services to discourage and hopefully eliminate burning of domestic garbage by rural residents, as well as bans big agro giants from buying rice, corn and other crops where burning of the waste is a major part of the harvesting process, then nothing is going to change. The same needs to happen in neighboring countries, so even if Thailand were to succeed (unlikely), cross-boundary haze would continue to be an issue, especially in regions within 50-100km of a border with a neighboring country, which is probably half of Thailand. 

 

6. Agreed. 

 

7. English skills - Thais speak decent enough English, in all the tourist and expat areas. If you're an expat, learn Thai. Don't be lazy. It's their country. If you can't stand being served by people who can't speak English to the level of fluency you demand, then Thailand isn't for you. A native English speaking country would be a better place.