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Thai Long Term Resident Visas Slated for September?

Transcript of the above video:

A topic on the lips of many here in recent weeks has been the so-called Long-Term Resident Visa as noted in this title of this video. We have that in quotation marks; as I have noted in many videos it is not a Residence Visa, it is still a Non-Immigrant Visa, it is just for a long time. They are slated to be for 10 years at a stretch but it appears we are starting to see sort of traction on this coming here in the 4th quarter of 2022.

I started thinking of making this video after reading a recent article in the Pattaya Mail, that is, the article is titled: Thailand's Latest 10-year Retirement Visa available from September. I urge those watching this video to go check out that article, there is a lot of insight in there. Quoting directly: "The Board of Investment has announced a launch date of September 1 for the latest tranche of long-stay Resident Visas or LTRs. These are 10-year permissions available to high-potential individuals such as the globally wealthy, highly skilled professional and - significantly - retirees over 50 who are economically inactive. The one-off registration fee is 50,000 Baht for all types." Again that kind of belies a larger financial set of criteria there. Folks that look at this first glance they say "oh it costs 50,000 Baht!” No, that is the filing fee to apply for it. There are a number of financial criteria out there for example $80,000, proof of pension of $80,000 or proof of income of $80,000 US for at least two years prior to coming to Thailand seems to be kind of the magic number. Short of that, a minimum of $250,000 invested in Thailand. There is even a category for a million dollars invested. So, when they say high net worth individuals, yeah we are definitely talking about a different rung of financial evidence than we are used to dealing with for example in the context of a standard O-A or O Retirement Visa or O Marriage Visa for that matter. So a couple of things to take away from this video: not really a Resident Visa, it does have an end date. They are longer, they are 10 years in duration but the financial criteria are substantially higher than what we are used to dealing with in the context of standard Retirement Visas here in the Kingdom of Thailand. 

Now the one thing to understand though is it looks like this is going to start kicking off here in the 4th quarter. So those who are interested in this, it is probably a good idea to get into doing the research now because I suspect there will be, it is going to take a little time to roll it out so it is probably best to get on top of your research early and often before this thing rolls out in the fourth quarter here in 2022.