Thailand launched the updated Long-Term Resident (LTR) visa on September 1, joining Japan, Singapore, the United Kingdom and United Arab Emirates in granting long-stay rights to targeted foreigners – though terms and conditions vary from country to country. From last month, Thailand halved the fee for its LTR visa, which lasts for 10 years, from 100,000 baht to 50,000 baht to attract four groups of foreigners – wealthy people, retirees, those who want to work in Thailand, and experts. The government expects the LTR visa to bring in at least 1 million people per year, significantly boosting economic recovery after Covid. Affluent applicants must have combined assets of at least US$1 million and an income of at least $80,000 per year. The visa also covers up to four family members, including dependents under 20 years of age.
