On 1 September 2022, Thailand introduced a new Long-Term Resident (LTR) visa program. The program offers a 10-year renewable visa and a range of tax and non-tax benefits to four distinct categories of foreigners. These are wealthy global citizens, wealthy pensioners, work-from-Thailand professionals and highly skilled professionals.
Thailand’s Board of Investment reckons the LTR program will attract wealthy, ‘high-potential’ and talented individuals, who in turn will stimulate economic growth, through innovation, investment and domestic spending. Thailand’s government has set a target of attracting one million foreigners into the program over the next five years.
This target seems overly optimistic. The LTR visa enters a highly competitive global industry of long-term and second-home visa programs because of its focus on attracting…
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