As part of efforts to revive the economy after the Covid-19 pandemic, Thailand is now offering a 10-year visa not only for approved special visitors, but also for their spouses and children.

This measure is an economic stimulus program and investment promotion package designed to attract wealthy foreigners and highly skilled international professionals, who will also automatically receive work permits, the same income tax rate as Thai citizens, tax exemption for income earned abroad, and ownership of real estate and land.

"The government also expects that these foreigners will spend an average of one million baht per person per year during their stay and work in Thailand, totaling about one trillion baht over the next five years," said government spokesman Thanakorn Wangboonkongchana.

This long-term visa program is aimed at four groups:

  • Professionals working from Thailand
  • Highly qualified professionals

    • Such groups would need to invest at least US$500,000 (16.5 million baht) in Thai government bonds, either as foreign direct investment (FDI) or in real estate, Thanakorn explained.

    He added that the minimum income required for this group is $80,000 per year for the past two years, the minimum asset value required is $1 million, and the minimum health insurance required is $100,000.

    In 2003, Thailand introduced the Thai Elite Visa, designed to attract wealthy visitors, businesspeople, investors, and expats for long-term stays. Holders of a Thai Elite Visa are exempt from income tax, particularly if their income is derived from abroad. However, in certain cases, they may voluntarily pay income tax in Thailand.

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