Thailand has a lot of long-term visa options where foreigners can stay long-term in the land of smiles and the LTR visa is the latest addition of visas that Thailand has to offer. In this article, we will discuss the difference between the LTR visa and Thailand Elite visa which offers a 5 to 20 years stay in Thailand.
Long-Term Residency Visa
The LTR Visa or Long Term Residency Visa was introduced on September 1, 2022, giving a 10-year visa to foreigners who want to live and work in Thailand. The goal of the program is to attract wealthy foreigners and more digital nomads to Thailand. The program is under the management of the Thailand Board of Investment.
Here are the privileges for holders of an LTR visa:
* 10-year renewable visa
* Lowered personal tax
* Removing the requirement of hiring 4 Thai locals per foreigner
* Faster document processing at international airports
* 1-year mandatory reporting instead 90 days
* Digital work permit
What are the qualifications to get an LTR Visa?
There are a number of requirements to get a foreigner qualified for an LTR visa. Here are some of them:
* Minimum annual salary of $80,000 USD for the past 2 years.
* Applicant should have at least a master’s degree, series A financing, or intellectual property if personal income falls below the minimum annual salary.
* The employer of the applicant should be publicly traded for the past 3 years and generate at least $150 million USD in total sales.
* Employed for at least 5 years
* The applicant must have a minimum health insurance coverage of $50,000 USD
Should an applicant meet all the qualifications they can submit their application online and pay the processing fee. Click here for more details
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On the other hand, Thailand Elite Visa is a special tourist visa that allows a foreigner to stay in Thailand starting from 5 years up to 20 years. This program is under the management of Thailand Privilege Card Co. Ltd.
Here are the privileges for holders of the Thailand Elite Visa:
* 5-year up to 20-year multiple entry visa
* Faster document processing at international airports
* VIP greeting and assistance upon arrival and departure
* Access to the airport VIP lounge
* Access to spas, golf courses, excursions, and discounts on malls, resorts, restaurants, and gyms.
* 24/7 customer service assistance
* Medical insurance not required
What are the qualifications to get a Thailand Elite Visa?
* Holder of a Legal foreign passport
* Doesn’t have bankruptcy records
* Doesn’t have any criminal record in any country except on offenses due to negligence.
* An applicant has not declared to have incompetence or an unsound mind.
* No overstay record in Thailand for the past 3 years
* Never had a volunteer visa or an active work permit in Thailand
* Applicant must not be coming from countries under the UN Sanction List
Should an applicant meet all the qualifications they can submit their application online. Submitting an application is free and pay the membership fee once approved. Click here to know more about Thailand Elite Visa
Conclusion
Thailand has a wide range of visas for retirees, wealthy foreigners, retirees, and digital nomads. While the LTR visa has the advantage of no membership fee and have a permit to work in Thailand. The qualifications to acquire this type of visa might not appeal to foreigners, especially digital nomads since private financial information needs to be submitted to the Thai government. On the other hand, Thailand Elite Visa has fewer qualifications and requirements with a lot of privileges in an exchange for a one-time membership fee.