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Thailand's Robust Visa Policies: Attracting Global Talent and Investment

posted 3 weeks ago

As Thailand positions itself as an attractive destination for foreign talent, technology, and investment, its strategic visa policies have become instrumental in driving economic growth. For international business owners, entrepreneurs, and expatriates seeking to work, conduct business, or invest in Thailand for an extended period, the country offers several viable visa options.

Non-Immigrant Visa “B”

The Non-Immigrant Visa “B” is a popular choice for those whose activities do not involve permanent residency. This visa allows foreign nationals to stay in Thailand for up to one year and is typically granted for purpose of working in Thailand.

After obtaining this visa, a work permit from the Department of Employment is essential to comply with Thai labor laws. This process necessitates demonstrating a job offer or employment in Thailand. Additionally, the employing company must meet specific requirements set by the Ministry of Labor, including:

  • Maintaining a minimum registered capital of 2,000,000 Thai Baht for Thai juristic entities, or 3,000,000 Thai Baht for foreign registered companies.
  • Employing at least four Thai nationals for every foreign employee.
  • Having supporting corporate documents.

Long-Term Resident Visa

Recognizing the need to attract and retain highly skilled professionals and wealthy individuals, Thailand introduced the Long-Term Resident (LTR) visa in September 2022. This special visa category offers foreigners in certain categories up to 10 years of renewable permission to stay in Thailand, along with various privileges and exemptions during their stay.

One of the targeted groups under the LTR visa is the “Work-From-Thailand Professionals,” catering to foreign employees whose companies grant them the ability to work remotely from other countries, with Thailand as their chosen destination. To qualify under this category, applicants must meet the following criteria:

  1. Demonstrating a required amount of personal income.
  2. Holding an employment contract with a foreign company that is a publicly listed or private company operating for at least three years with a minimum required amount of revenue over that period.
  3. Having at least five years of relevant work experience in their field of expertise within the last 10 years.
  4. Providing proof of adequate health insurance coverage for medical expenses in Thailand valid for at least 10 months, have social security benefits, or deposit in a bank account to be maintained for 12 months in the amount as required.

It is crucial to note that the LTR visa itself does not grant the holder the right to work or engage in employment in Thailand. Those seeking employment opportunities must obtain a separate Work Permit to comply with local regulations.

Thailand’s commitment to fostering global talent, experts, and investors, while increasing economic growth and becoming an attractive destination for foreigners, is evident through these strategic visa policies. By facilitating the entry of global talent and investment, Thailand positions itself as a hub for innovation, entrepreneurship, and economic development in the region.

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