Thailand Eases Long-Term Residence Visa Requirements

Thailand's cabinet has approved significant changes to its Long-Term Resident (LTR) visa program, aimed at attracting skilled professionals, investors, and wealthy foreigners. The updates include eliminating the requirement for wealthy global citizens to demonstrate an annual income of at least $80,000 and reducing the minimum revenue requirement for companies sponsoring remote workers from $150 million to $50 million. The revisions were made following consultations with stakeholders and are expected to enhance Thailand's appeal as a global investment hub. Additionally, the number of dependents eligible under LTR visas has been expanded, and some overlapping Smart visa categories have been revoked. While these changes are designed to streamline the application process and boost participation, some experts suggest they may still not attract a broad range of expatriates due to the substantial investment requirements. Overall, the adjustments reflect Thailand's strategy to create a more competitive environment for foreign talent and investment.