The Thai government has high hopes for its Long Term Residence visa program, which is expected to attract one million foreigners over the next five years, aiding post-pandemic tourism and economic growth. According to Narit Therdsteerasukdi, secretary general of Thailand's Board of Investment, 2,800 foreigners have applied for the visas since its launch on September 1, 2020, with retirees accounting for 35% of applications, as reported by Thai media.
To be eligible for the visa program, foreigners must meet certain requirements, such as holding at least $1 million in assets, having a validated annual personal income of a minimum of $80,000 for the past two years, and making an investment of at least $500,000 in Thai government bonds, foreign direct investment, or Thai property. Retirees aged 50 years and older with an annual pension or stable income of at least $80,000 per year at the time of application are also eligible.
Thanks to its open visa policy, Thailand welcomed 11 million foreign visitors last year, with its tourism industry being one of the fastest in the region to recover post-Covid lockdowns. The Thai government is aiming to attract 30 million foreign arrivals this year, with the Long Term Residence visa program being a key contributor to this target.
To be eligible for the visa program, foreigners must meet certain requirements, such as holding at least $1 million in assets, having a validated annual personal income of a minimum of $80,000 for the past two years, and making an investment of at least $500,000 in Thai government bonds, foreign direct investment, or Thai property. Retirees aged 50 years and older with an annual pension or stable income of at least $80,000 per year at the time of application are also eligible.
Thanks to its open visa policy, Thailand welcomed 11 million foreign visitors last year, with its tourism industry being one of the fastest in the region to recover post-Covid lockdowns. The Thai government is aiming to attract 30 million foreign arrivals this year, with the Long Term Residence visa program being a key contributor to this target.
