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Why is LTR Visa in BOI structure an integral solution to high-skilled professionals?
The LTR Visa under BOI framework is part of a strategic policy tool designed to attract high-potential foreign talent to stimulate economic growth and support innovation within key industries
Introduced through Announcement No. Por. 3/2568 and under the Investment Promotion Act B.E. 2520 (1977) Section 13, LTR Visa under BOI framework rewards persons whose expertise and qualifications can add value to the Thai economy, with long-term residence status. It is part of larger legal system that also consists of the provisions of the Immigration Act B.E. 2522 (1979), as well as ministerial regulations and BOI procedural manuals.
Among the categories defined by the BOI, the Highly Skilled Professional could be said to be the most relevant profile, particularly, sizing-up the country’s present transformation towards knowledge-based, high-technology economy.
The LTR Visa under the BOI framework provides highly skilled professionals with facilitated immigration, tax benefits, and preferential working conditions.
At Benoit & Partners, we provide expert guidance to help high-skilled professionals understand the advantages of the Long-Term Resident (LTR) Visa within the BOI structure in Thailand. Whether you’re considering the visa for work, business, or residency, our team is here to help you navigate the legal benefits and requirements. We specialize in advising on how the LTR visa can be a powerful solution for professionals seeking long-term opportunities in Thailand, particularly within the BOI framework. With our expertise, you can make informed decisions about your future in Thailand while ensuring full compliance with Thai immigration and business laws.
In this article, we will explore the benefits, requirements, and application process for the LTR Visa, while showing how our expertise can help you seamlessly integrate into life and work in Thailand.
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Table of Contents
What are the advantages of the LTR Visa BOI for highly skilled professionals?
Highly skilled professionals who qualify for Thailand’s Long Term Resident Visa under the BOI framework enjoy a range of exclusive rights. These rights simplify legal residence and professional integration. The 10-year renewable visa is one of the key benefits, providing stable status without the need for yearly renewals.
LTR Visa holders are exempt from the standard rule that limits companies to only four foreign employees per Thai national. This allows greater flexibility for companies aiming to attract international talent in specialized fields.
Another benefit is the relaxation of immigration reporting duties. Instead of the usual 90-day check-ins, visa holders only need to report once a year. They are also excused from obtaining re-entry permits for outbound trips. Additionally, expedited processing at Thailand’s international airports makes travel easier.
The visa also offers streamlined access to immigration and work authorization services. A single-window One Stop Service Center handles both processes together. Visa holders can also obtain digital work permits for employment in Thailand.
From a tax perspective, the LTR Visa under the BOI framework offers a favorable tax regime. It includes a flat 17% personal income tax rate on earnings from work in Thailand.
These benefits extend to eligible dependents of the primary applicant. Spouses, children under 20, and parents can live in Thailand under the same visa conditions.
Who qualifies as a highly skilled professional under the LTR Visa within the BOI framework?
According to the BOI’s guidelines, an applicant must meet strict standards regarding employment, income, and field of expertise.
What are the job requirements for the LTR Visa through the BOI?
To qualify for the LTR Visa under BOI as a highly skilled professional, the applicant must show a formal work affiliation in Thailand. This requirement can be met in one of two ways.
First, the applicant may provide a legally binding employment or service contract with a Thai company or a foreign entity operating in Thailand. The contract must clearly define the scope of work, duration, and duties. It must also align with one of the sectors recognized by the Board of Investment.
Alternatively, the applicant can meet the job requirement by holding a position at a Thai public institution. This includes universities, government research bodies, or specialized training institutes. These roles often support national development and are considered valuable under the LTR Visa BOI framework. They contribute to Thailand’s innovation and knowledge economy.
In both cases, the work relationship must be current and verifiable through formal records. The work must directly relate to the applicant’s expertise and the strategic industries prioritized by the BOI.
Targeted industries and areas of expertise
Applicants must be employed in or contribute expertise to one of the 15 targeted sectors eligible for the LTR Visa through the BOI: automotive industry; electronics industry; affluent tourism industry; agriculture, food, and biotechnology; transportation and logistics; automation and robotics; aviation, aerospace, and astronautics; biofuels and biochemical industry; petrochemical and chemical industry; digital industry; medical industry; national defense industry ; Circular economy policies and environmental technologies ; and International centers for business (IBCs) often focus on fields requiring specialized expertise, such as artificial intelligence, novel materials design, ecological management, and alternative dispute resolution.
What are the earnings prerequisites for the LTR Visa under BOI framework?
To qualify for the LTR visa under the BOI, highly skilled professionals must meet specific income benchmarks to show financial stability and align with the program’s goals. There are two income options based on the applicant’s qualifications.
Under the first option, applicants must demonstrate a typical yearly salary of at least $80,000 USD for the two years prior to their application. This income can come from employment, consulting, or other professional work. Applicants must provide supporting financial documents, such as tax returns or pay stubs.
Alternatively, applicants may qualify with a lower average income of $40,000 USD per year over the same period, if they meet additional eligibility criteria. These include holding a Master’s degree or higher in science or technology or showing recognized expertise related to Thailand’s economy.
Retired professionals from scientific and technological fields may also qualify if their income was earned before retirement. In some cases, applicants working at public universities, research organizations, or specialized training agencies in Thailand may be exempt from the income requirement.
What medical insurance or financial guarantees are necessary for the LTR Visa under BOI framework?
In addition to meeting income requirements, applicants for the LTR visa under the BOI must show sufficient financial resources to cover medical costs during their stay in Thailand. This can be done in three ways.
The most common method is to provide a valid health insurance policy. The policy must cover at least $50,000 USD for medical treatment in Thailand and remain valid for at least 10 months when the qualification endorsement is issued.
Applicants also have other options to prove medical coverage in Thailand. The most straightforward is to show proof of enrollment in a recognized social security program, either domestic or foreign, that covers healthcare costs in Thailand. Alternatively, applicants may demonstrate a savings balance of at least $100,000 USD in a bank account that has been active for over a year. Bank statements can be used to confirm this.
Either of these options ensures that medical care and costs can be handled during the applicant’s stay.
What final criteria must one meet to immigrate?
Ultimately, those pursuing the LTR Visa BOI must exhibit no traits prohibited by Thailand’s immigration statutes. Specifically excluded are, though not confined to, past infringements of the nation’s border rules, criminal anamnesis, or any circumstance rendering a person unacceptable within the territorial bounds of the Kingdom.
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How does one apply for the LTR Visa under BOI framework as a highly skilled professional?
Obtaining permanent residency thanks to the LTR Visa under BOI framework involves several important steps.
First, one must submit an online pre-qualification at the BOI website by providing requisite documents such as a CV, employment contract, income evidence, degree certificates, and proof of insurance.
Next, the BOI will assess eligibility. If approved, it will issue an endorsement letter, which is crucial for visa approval. With the endorsement, applicants can apply for the LTR Visa through Immigration or at a Thai embassy abroad.
Once approved, the visa will be placed in the applicant’s passport, along with a digital work permit. Upon arrival in Thailand, the applicant must register for a tax identification number and file annual reports with immigration authorities.
How does the LTR Visa under BOI framework compare to other work permits and visas?
Unlike other visa types, the LTR Visa under BOI offers skilled professionals more autonomy and stability. It does not require constant renewal like employer-sponsored visas. It also removes the restrictive 4:1 hiring ratio that limits foreign recruitment.
In contrast to retirement or investment visas, the LTR requires active professional contributions. Additionally, the 17% flat tax rate under this program offers significant savings compared to higher personal tax rates.
Can the LTR Visa under BOI framework be extended or renewed?
The LTR Visa can also be renewed in two consecutive five-year periods contingent on maintaining employment in supported industries, income minimums, and health coverage or financial security requirements. Dependents may renew alongside the primary visa holder through similar BOI and immigration channels.
Conclusion
For those looking to apply their expertise to support Thailand’s development, the LTR Visa under the BOI framework streamlines immigration. It rewards contributions to the economy and stabilizes legal status. It also recognizes the important role advanced skills play in progress.
By meeting strict qualifications and following clear application steps, highly skilled individuals can establish a long-term presence in Thailand. They enjoy significant tax benefits and immigration privileges.
For many, this program is the perfect way to connect international talent with Thailand’s industrial, academic, and technological goals. However, legal counsel is crucial to fully maximize the benefits and ensure compliance with Thai law.
Firms such as Benoit & Partners offer customized guidance every step of the LTR Visa under BOI process. If you need further information, you may schedule an appointment with one of our lawyers.
FAQ
The LTR Visa under BOI is a long-term residence visa designed to attract highly skilled professionals to Thailand. It offers benefits such as a 10-year renewable visa, tax incentives, and simplified immigration procedures for individuals contributing to Thailand’s key industries.
To qualify, applicants must meet specific income and employment criteria, including a minimum annual income of USD 80,000 or USD 40,000 (with additional qualifications). They must also be employed in one of the 15 targeted industries, such as technology, digital, medical, or aerospace.
The main advantages include a 10-year renewable visa, exemption from the 4:1 foreign employee quota, one-year reporting instead of the usual 90-day reporting, expedited immigration services, and a flat 17% personal income tax rate.
To apply, you must submit an online pre-qualification form to the BOI, including documents such as your CV, employment contract, income evidence, and degree certificates. Once approved, you can apply for the visa at a Thai embassy or immigration office in Thailand.
Yes, the LTR Visa under BOI can be renewed every five years, provided you continue to meet the income and employment requirements, as well as maintain the required health insurance or financial guarantees.