What to Expect: Thailand’s 10-year Visa Program for Skilled Workers and High-Income Foreigners

Like any other country, Thailand's economy has experienced significant losses due to the COVID-19 pandemic. There's no telling when the situation will be over, so one solution that the government has decided to consider is to invite digital nomads and high-income foreigners.

During a video conference with His Excellency PM Prayuth Chan-ocha in 2021, the Tourism Authority of Thailand (TAT) presented proposals to attract foreigners to come and live in the country. Among those is to allow certain individuals to work without a permit, buy property and land, and stay for up to 10 years.

If passed, the government expects to get one million affluent visitors within the first five years and raise up to THB1 trillion, which includes THB270 billion from increased tax revenue and THB800 billion from new investments.

Who is Eligible?

Thailand’s new 10-year visa program aims to target four specific groups: investors, digital nomads, wealthy pensioners, and highly skilled professionals. Here are the criteria for each of them:

Investors

• Needs to invest US$500,000 in real estate or government bonds in a foreign direct investment (FDI) format
• Needs to show proof of income of US$80,000 in the last two years
• Needs to have US$1 million in assets and US$100,000 in health insurance

Digital Nomads

• Needs to have a bachelor’s degree and five years of work experience, no age limit
• Needs to show proof of annual income of US$40,000
• Needs to have US$100,000 in health insurance

Pensioners

• Needs to be 50 and above
• Needs to invest US$250,000 in real estate or government bonds in an FDI format
• Needs to show proof of pension income of US$80,000 in the last two years
• Needs to have US$100,000 in health insurance

Skilled Professionals

• Needs to be a “skilled worker” in industries stated in the National Competitive Enhancement for Targeted Industries B.E. 2560 (A.D. 2017), such as researchers and university professors
• Needs to show proof of income of US$80,000 in the last two years
• Needs to have US$100,000 in health insurance

What are the benefits?

All qualified individuals will not only have a 10-year visa in Thailand for themselves, but also for their spouses and children (with a limit of up to four family members). They can work immediately upon landing and don’t have to wait for the issuance of a permit.

Restrictions will be relaxed on foreign-owned land and property, although no specific details have been released yet. There will also be tax exemption for overseas income and local income will be at a flat rate of 17%, including those in the Eastern Economic Corridor (EEC) scheme.

As of January 2022, the Cabinet has approved the proposal and is now working to finalize the regulations. Interested individuals can start obtaining qualification certificates and other supporting documents from their Thai embassies and consulates, or at the Thai Board of Investment at Chamchuri Square if already living in the country.