Thailand’s LTR Visa Sparks Billions in Revenue
Bangkok – Thailand’s Long-Term Resident (LTR) Visa has become a financial windfall. Since its launch in September 2022, over 7,000 affluent foreigners have applied, bringing 23 billion THB (around €600 million) into the national treasury.
Narit Therdsteerasukdi, Secretary-General of the Board of Investment (BOI), proudly announced the success of this unique initiative designed to attract highly skilled professionals and wealthy investors to the Land of Smiles. The program targets four groups: highly skilled professionals, Work-from-Thailand experts, affluent global citizens, and wealthy retirees. Among applicants, 42 % come from Europe, 19 % from the U.S., and others from Asian countries such as Japan, China, and India.
Cabinet Approves Even More Attractive Conditions
In January 2025, the Thai Cabinet approved updates to the LTR Visa regulations, making the program even more appealing and accessible for international talent. The results were immediate: applications from wealthy global citizens doubled compared to the previous year.
The program was also extended to include foreign faculty members from academic and professional institutions to strengthen Thailand’s human capital for future industries. Applications from highly skilled professionals and wealthy retirees continue to grow, while submissions from Work-from-Thailand applicants have declined—a global post-pandemic trend as workplaces return to normal.
Technology Transfer to Strengthen Thailand’s High-Tech Industries
The economic impact goes far beyond direct revenue. The LTR Visa generates funds through four main channels: visa fees, estimated spending by visa holders in Thailand, direct investments, and tax contributions from highly skilled professionals.
Of particular value is the technology transfer brought by these foreign experts, enabling Thailand’s workforce to support key industries such as semiconductors, advanced electronics, data centers, AI technologies, electric vehicles, biotechnology, and automation. These sectors will attract investment and create additional economic value, positioning Thailand as a competitive destination for investors and global talent despite geopolitical tensions and shifts in the global trade landscape.
New Service Center Simplifies Visa Procedures
To meet growing demand, the BOI plans to fully digitize LTR Visa services through an end-to-end system integrated with relevant government electronic platforms. These include the e-Visa system, the Ministry of Labor’s electronic work permit system, and e-payment options.
In March 2025, the BOI opened the Thailand Investment and Expat Services Centre (TIESC) on the 6th and 7th floors of the One Bangkok PARADE complex on Rama 4 Road in Bangkok. This integrated service center consolidates the One Start One Stop Investment Centre (OSOS) and the One Stop Service for visas and work permits under one roof. It provides a full range of services, including BOI visas, LTR visas, Startup Smart Visas, and support for foreign employees in BOI-promoted companies.