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Phuket officials to plug Long Term Resident visa

Phuket officials to plug Long Term Resident visa

PHUKET: Phuket officials met yesterday (Aug 25) to discuss promoting the new Long Term Resident (LTR) visa. Applications for the new visa type open next Thursday (Sept 1).

immigrationeconomics
By The Phuket News

Friday 26 August 2022, 02:29PM


Phuket Vice Governor Amnuay Pinsuwan chaired the meeting of the “Joint Public-Private Sector Committee for Development and Solving Economic Problems in Phuket”, joined by leading business representatives on the island, including Phuket Chamber of Commerce President Thanusak Phungdet.

A host of officials from relevant government departments on the island also joined the meeting.

The meeting was the ninth time the committee had met so far this year. However, according to a report by the Phuket office of the Public Relations Department (PR Phuket), no decisions were made on exactly what to do to promote the new LTR visa, other than publish notices on Thai-language government channels.

Senior national government figures have already announced that the new visa scheme is hoped to attract more than 1 million “highly skilled” foreigners over the next five years, apparently drawn by the low cost of living and vibrant lifestyle in Thailand.

The new LTR visa has been promoted as making Thailand “an even more attractive destination” by simplifying the visa and work permit process and offering attractive incentives. 

It is hoped that the new visa will bring more than B750 billion extra investment into Thailand by 2026.

At the meeting yesterday, Kantharos Laopradit from the Thailand Board of Investment (BOI), explained the scheme to Phuket officials.

The concept for the LTR visa was first raised last year, with the Cabinet approving the draft Notification of the Ministry of Interior on Long-Term Visa on May 10 this year.

The tax relief measures offered under the scheme were Gazetted on May 24. The Ministry of Interior rubber-stamped its own initiative on June 2, and the Ministry of Labour gave its approval on June 9. The conditions of entry under the visa were approved on June 20, Ms Kantharos explained.

Thai Residential

The official “opening ceremony” of the scheme will be held next Wednesday (Aug 31) and the BOI will start accepting applications for the LTR visa next Thursday (Sept 1), she said.

The visa will be open to:

  • Foreigners holding assets worth at least US$1 million
  • Foreign retirees aged 50 and over who receive a pension or have a stable income
  • Foreigners working from Thailand for foreign companies with “acceptable operating results”
  • Highly skilled or specialised persons working for companies or higher education institutions or research institutes or specialised training institutes or government agencies in Thailand and must work in businesses in the targeted industries

The LTR visa will allow up to four direct dependents, namely the successful applicant’s spouse and children under 20 years of age, she added.

The benefits of the LTR visa were given as:

  1. The duration of the visa is 10 years (five years, plus extended for five years)
  2. The right to exempt the ratio of 4 Thai workers per 1 foreigner
  3. Permission to work in Thailand under a Digital Work Permit
  4. Report to Immigration every 1 year instead of every 90 days and can travel in and out of the country unlimited times (Multiple entries)
  5. Reduce income tax to 17% for skilled professionals and tax exemption for income coming from abroad
  6. The right to use the “fast track” at international airports where available
  7. Facilitation of visas and work permits at the Visa and Work Permit Service Center (OSS).

Qualified applicants may apply online by directly applying to the BOI (see BOI ’pre-screening’ service here), or at Royal Thai Embassies and consulates overseas, or at Immigration offices throughout Thailand.

The application for the visa is B50,000.

Under the visa, the annual digital work permit fee is B3,000.

Applications will be processed within 20 days, the BOI notes.

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Kurt | 28 August 2022 - 10:28:26

@ Kamala Pete,  study the article again. If you have doubts, 'feel/sense' gaps, call  the Thai Officials who are in charge. Audit/project your present financial on this new offer. For most of us it is not worth to give it a 2nd thought. It is just a money drain. 'Thai' you.

christysweet | 28 August 2022 - 10:16:18

The answer is simple- issue a 1 year card that enables specfic categories of work along with 'permission to stay' with the caveat one is to report a change of address. This won't happen as the petty extortions occuring hundreds of times each day at each Immigration office would slow to a trickle.

CaptainJack69 | 27 August 2022 - 22:19:38

How on earth is this new WP system going to work? They're completely rethinking the entire system for employing foreigners or what? As is a WP belongs to a company, not an individual. Every aspect of life for foreigners is based on that arrangement. Yeah, I can see this going well.

maverick | 27 August 2022 - 21:10:53

The whiners are out in force I see

christysweet | 27 August 2022 - 17:43:41

The 90 day sexual deviant whereabouts report is bad enough but for sheer BS harassment nothing beats the TM-29/30  if you happen to stay outside your home for a night in a hotel. Anything about doing away with that ?

DeKaaskopp | 27 August 2022 - 16:31:08

@Kamala Pete    Because they are negative always.Part of their lifes.Bitter old grumpys.

DeKaaskopp | 27 August 2022 - 16:26:39

@Kurt  But still many people used it happily.

Kurt | 27 August 2022 - 14:30:07

'Benefit point nr 4: Just report once a year instead of every 90 days shows what a nonsense that 90 day report is. IF a 90 days report is important for 'National security reasons', than once a year reporting is a infringement on National Security.

Kamala Pete | 27 August 2022 - 12:51:40

I'm not sure why there is so much negativism from the usual suspects. As a 50+ pensioner this seems to have some real benefits. No 90 day reports, long terms, multiple re-entry. The "fast track" really seems to be a trivial issue. More detail would be good - like would we still need the 400k/800k on deposit? What proof would be needed of income?
 

Kurt | 27 August 2022 - 12:42:57

Dek is wrong. about 2.5-3 years agothere were complains about the illegal Phuket fast lane. Paying 100B, no payment slips.  Than 'Bangkok' Chiefs came down and ordered to Phuket immigration Colonel to stop with the fast lane. It was all published in PN. Including the comment of the Phuket Immigration Colonel.

christysweet | 27 August 2022 - 11:45:34

The problem with a fee for a 'fast lane' through arrival processes is the other lanes are deliberatly throttled to encourage the payment. It is    unfair, unprofessional and corrupt but is a good way to showcase these traits to the newcomer. 

DeKaaskopp | 27 August 2022 - 10:05:41

@Kurt   Many people happily paid 100b to use the advantages of the fast lane. There was never anything wrong about it.

fargo | 27 August 2022 - 08:45:53

This scheme enabled me to plan ahead and move to Phuket, rent from a Thai national, buy a locally manufactured motorbike, and open a branch of my company here ( which will pay Thai corporate tax). 

As for airport fast-track, this is already happening with the Thai Elite Visa so it is just mirroring the benefits.

It’s a good solution to what was previously a big problem for me.

Kurt | 27 August 2022 - 00:12:58

Some years ago the Phuket Immigration Colonel said; "Don't Talk about the fast illegal lane a B100 per arriving tourist in arrival hall Phuket airport anymore. That is the past". Seems they like to re-install it. And believe me, it will not be only for the long term visa arrivals. That is just a cover up. And so they 'Thai' you. 

Kurt | 27 August 2022 - 00:02:30

Foreign retirees don't need it. "Fast track" at airports by Immigration was/is illegal, and forbidden. There are only quicker/shorter lanes for business/1st class passengers. What are "acceptable operation results"? Up to the Thai Immigration officer? Forget it. They just 'Thai' you.Never seen such a desparate search for money by a Thai government body. Who goes for...

Capricornball | 26 August 2022 - 23:12:50

All sensible comments below...but like all rational thoughts, this will go right over the heads of officials, because they think they know better about everything, when actually that continue to be clueless about how westerners think. They seem to be completely stumped when it comes to forward thinking, looking at the bigger picture, and planning for the future. 

Fascinated | 26 August 2022 - 18:59:18

Complete rubbish, how about making normal resident permits like driving licences- provisional for 1 year then 5 years after that. People taking advantage of that would supply far more to the economy than this ridiculous scheme open only to some. It would also generate far more income than people paying 50k by sheer volume.

Old guy | 26 August 2022 - 17:35:38

If it was simple, millions with higher incomes would come spending money on residences, travel, entertainment, food, health, education, and more. It would improve the lives of everyone in Thailand. Easy Peesy!! 

Old guy | 26 August 2022 - 17:30:17

The LT Visa is another joke from people with no understanding of people. Just make it available to those 50 year olds with  B65k sustainable income and not criminals. There'd be millions coming with billions to spend as long as the fee was B2k per year. Cut out the bull, paperwork, excessive fees. 

 

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