Thailand is a country with fabulous beaches and a pleasant climate, which makes it one of the most desirable places in southeast Asia for many people, including wealthy families and pensioners. The country is also becoming very popular with freelancers. In response to the growing demand, the Thai government has developed a range of golden visa options. Read on to learn how to get these visas and how much money you will need for the process.
What Is an Investment Visa?
Foreigners entering Thailand intending to invest in the local economy can apply for an IB visa at the Immigration Bureau. To do this, they will need to get their investment approved by the Board of Investment of Thailand (BOI). Such visas are usually valid for no more than a year, but by engaging in special government programmes, this period can be extended to four years.
In addition to the regular investment visa, Thailand has several privileged residency programmes:
- Thailand Privilege Residence (TPR). With this programme, you can get a long-term multiple-entry visa with residence in the country for up to 20 years. This is an elite residence permit which requires a non-refundable investment.
- Long-Term Residents (LTR) is a long-term visa issued for a period of up to 10 years to wealthy people, rich pensioners, highly qualified professionals, freelancers, and their family members.
Bangkok. Photo: Siriwut Bunthawee (Unsplash)
Thailand Privilege Residence (TPR)
Thailand Privilege Residence (TPR) has four options. Each of them includes many additional features and benefits provided according to a point system. There are many ways you can use the points: shuttle services, golf, spas, domestic flight, private tours, events, and more.
TPR does not have a minimum stay requirement. You can enter and leave the country as many times as you wish during the entire validity period of your residence permit. The duration of your leave is also unlimited.
Depending on the size of the investment, a foreigner can buy one of four resident cards:
- Gold card. This card requires a one-time fee of 900,000 THB ($24,745). For this amount, an investor gets a five-year visa and 20 points per year.
- Platinum card. The one-time fee is 1,500,000 THB ($41,243). The application may include family members with an additional fee of 1,000,000 THB ($27,495) per member. The card is valid for 10 years and provides 35 points.
- Diamond card. The applicant pays a one-time fee of 2,500,000 THB ($68,738). The card is valid for 15 years. You can include your family members for 1,500,000 THB ($41,243) per member. The card offers 55 points per year.
- Reserve card. This 20-year residence permit requires a one-time fee of 5,000,000 THB ($137,476). You will have to pay an additional 2,000,000 THB ($55,000) for each family member. The card offers 120 points per year.
Ko Samui. Photo: Yavor Punchev (Unsplash)
Long-Term Residents (LTR)
Long-Term Residents (LTR) is a long-term resident visa issued only after the approval of the Board of Investment of Thailand (BOI). This visa is normally valid for five years, but if you meet the conditions of the programme by the time of its expiration, the visa will be extended for the same period.
The conditions of the programme depend on the category of the applicant:
- Wealthy people have to prove they have $1,000,000 in savings and an annual personal income of $80,000 for the past two years. To get a visa, you need to invest at least $500,000 in Thai real estate or local government bonds.
- Pensioners aged 50 and over have to prove they have a stable income of at least $80,000 per year at the time of application. If you cannot prove this, you need to invest $250,000 in real estate or government bonds to obtain a visa. The annual income in this case cannot be lower than $40,000.
- Freelancers working for foreign companies need to prove their annual income of at least $80,000 for the past two years. There is an exception made for people with a Master’s degree or higher, as well as for intellectual property owners. These applicants can get a visa with an income of $40,000. There are also conditions for the employer: it must be a public company listed on the stock exchange or a private one existing for at least three years and with revenue of at least $150,000,000.
- Highly qualified professionals must also have an annual income of $40,000 or more. If you earn less than $80,000 per year, you need to have a Master's degree or higher in the field you plan to work in in Thailand. There are other requirements for the length of employment, and the experience of applicants.
- Investor’s family members. The main condition for family members is the legality of their relationship with the main applicant. That is, the marriage must be registered, the children adopted or recognised. They will also have to provide health insurance with coverage of at least $50,000 or a deposit of $25,000.
In all of these cases, the main investor (except for their family members) will need to have medical insurance with a coverage of at least $50,000 or make a bank deposit of $100,000.
In a Nutshell
There are different ways to move to Thailand with a long-term (resident) visa. One of the available options is the Thailand Privilege Residence (TPR) programme. For a non-refundable fee of about $25,000, you can get a five-year residence permit, and for $138,000, a 20-year residence permit.
However, there are other programmes that allow highly qualified professionals or wealthy people to move to the country. The former need to prove an annual income of $40,000 or more, while the latter need to buy real estate or government bonds worth $250,000 or more.
Cover photo: Bangkok. Braden Jarvis (Unsplash)
