Thailand’s innovative visa programs have attracted a record number of high-skilled foreign professionals to the country, with over 56,000 individuals arriving to take advantage of the opportunities offered. These initiatives are part of Thailand’s strategic plan to enhance its competitiveness and transition towards a new economic model.
The Long-Term Resident Visa (LTR visa) and the Smart Visa are two key programs that have been instrumental in attracting a diverse group of high-potential foreigners to Thailand. The LTR visa offers a stay of up to 10 years with unlimited entry and exit, reduced income tax rates for highly skilled experts, and relaxed reporting requirements to the Immigration Department. On the other hand, the Smart Visa program targets highly skilled professionals, investors, executives, and startup entrepreneurs, granting them up to a 4-year stay, exemption from work permit requirements, and additional privileges.
Mr. Chai Wacharong, spokesperson for the Prime Minister’s Office, highlighted the success of Thailand’s tourism policy, as evidenced by the increasing number of foreigners visiting the country. In a recent announcement, Thailand extended the stay period to 60 days for certain groups of tourists, including digital nomads, students, and retirees. Additionally, the country will now allow 36 nationals from different countries to apply for visas on arrival.
The Board of Investment (BOI) has collaborated with the Immigration Bureau and the Ministry of Labor to streamline the entry and stay of foreigners with special skills and investors. Currently, Thailand hosts over 50,000 foreign nationals participating in investment promotion projects, representing a diverse range of countries such as the United States, Russia, the United Kingdom, China, Germany, Japan, and France.