News Forum - Thailand News Today | New “digital nomad” visa gets cheaper

[Thaiger]

Thailand’s Cabinet has agreed to reduce the Long Term Resident visa fee by 50% to attract highly skilled foreigners into the kingdom. The fee for the LTR visa, which allows you to stay in Thailand for 10 years, has been reduced from ฿100,000 to ฿50,000. Changes to the visa requirements could make the lucrative “digital nomad” lifestyle a more realistic option for foreigners who wish to work remotely in the kingdom as well. Yesterday, the Spokesperson for Prime Minister Ratchada Thanadirek revealed that the Cabinet agreed to make changes to the LTR visa. She said highly skilled foreigners could apply […]

The story Thailand News Today | New “digital nomad” visa gets cheaper as seen on Thaiger News.

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[IneptoCracy]

Highly skilled foreigners are highly skilled, because they know not to come to Thailand. They remain highly skilled and stay in other countries offering them much more favorable status, than that which could ever be offered in the land of scams. You have killed your golden goose and eaten it. Now you are begging...

[Dmitrii]

1 hour ago, IneptoCracy said:

Highly skilled foreigners are highly skilled, because they know not to come to Thailand. They remain highly skilled and stay in other countries offering them much more favorable status, than that which could ever be offered in the land of scams. You have killed your golden goose and eaten it. Now you are begging...

Yes, they rudely kicked all them digital nomads out of Thailand in COVID times and now expect them to return

Or do they expect to attract new generation of digital nomads who are not aware of their unfriendly behavior in the recent past? Bad news: there have been no new generation produced in 3 years. Not enough time

Edited May 11, 2022 by Dmitrii

[Marc26]

13 hours ago, Dmitrii said:

Yes, they rudely kicked all them digital nomads out of Thailand in COVID times and now expect them to return

Or do they expect to attract new generation of digital nomads who are not aware of their unfriendly behavior in the recent past? Bad news: there have been no new generation produced in 3 years. Not enough time

Yeah go to Bangkok

 

They are here, in droves 

 

 

[Tim_Melb]

Ah yes we welcome back the digital nomads by banning Facebook, YouTube and Twitter. 

[JamesR]

Let me get this right and correct me if I am wrong, if I apply for this 10 year visa as a retiree I just have to pay them 50k baht and show them I have had, (quote)  ".. a cash deposit of at least US$100,000 in a domestic or foreign bank account for 12 months before applying for the visa."

So this $100k can have been in my 'foreign bank' in the UK, if so this is a bargain as no messing about with annual visa extensions from the next time I go to Thailand.

Am I reading this correctly anyone?

[Rookiescot]

21 minutes ago, JamesR said:

Let me get this right and correct me if I am wrong, if I apply for this 10 year visa as a retiree I just have to pay them 50k baht and show them I have had, (quote)  ".. a cash deposit of at least US$100,000 in a domestic or foreign bank account for 12 months before applying for the visa."

So this $100k can have been in my 'foreign bank' in the UK, if so this is a bargain as no messing about with annual visa extensions from the next time I go to Thailand.

Am I reading this correctly anyone?

Yes it is.

Or you can renew every year for the next 10 years and pay the equivalent of 19,000 baht. 

So if you feel 10 hours of your time is so valuable over the next 10 years then go ahead and pay that 31,000 baht premium.

[JamesR]

4 hours ago, Rookiescot said:

Yes it is.

Or you can renew every year for the next 10 years and pay the equivalent of 19,000 baht. 

So if you feel 10 hours of your time is so valuable over the next 10 years then go ahead and pay that 31,000 baht premium.

Great, yes I will do that as a bird in the hand is worth two in the bush and who is to say the annual cost of a visa extension will not increase gradually over the next ten years. 

[Foolish_Farang]

8 hours ago, JamesR said:

So this $100k can have been in my 'foreign bank' in the UK,

Is this true? Can the $100K be in my bank in Australia. I really wouldn't feel safe sitting a chunk of cash that large in a Thai bank. I remeber some of the bank book scams in Pattaya where the bank said they were not at fault, their employee was!

[Faz]

The terms and conditions of the LTR are still in the pipeline and as yet still a proposal.
What is known so far is thus;

 

Today’s decision is to update the guidelines and conditions, originally approved in September 2021, to attract foreigners with “high capability or potential” to stay in Thailand long term.

According to the revised guidelines, pensioners and wealthy foreigners, for instance, must have insurance coverage of at least US$50,000, to cover medical fees, which is valid for at least 10 months or a social security certificate covering their medical expenses while in Thailand or a cash deposit of at least US$100,000 in a domestic or a foreign bank account for 12 months before applying for the visa.

High-income earners must have an average annual income of US$80,000 for the two years prior to applying for the visa.

The foreign specialists must produce an employment contract from a business in Thailand or abroad. They are also required to produce evidence that they have worked in the “targeted industries” for at least 5 of the 10 years prior to applying for apply the visa.

Exceptions are made for work in Thai state universities, government research institutes, specified state training institutes or for those who have a PhD.

https://www.thaipbsworld.com/thailands-long-term-high-potential-resident-visa-fee-to-be-halved-to-50000/#:~:text=Thailand's cabinet decided to cut,Deputy Government Spokesperson Rachada Dhnadirek.

 

[Dragan]

Is this announced in the Royal Gazette already?

[JamesR]

13 hours ago, Faz said:

The terms and conditions of the LTR are still in the pipeline and as yet still a proposal.
What is known so far is thus;

Today’s decision is to update the guidelines and conditions, originally approved in September 2021, to attract foreigners with “high capability or potential” to stay in Thailand long term.

According to the revised guidelines, pensioners and wealthy foreigners, for instance, must have insurance coverage of at least US$50,000, to cover medical fees, which is valid for at least 10 months or a social security certificate covering their medical expenses while in Thailand or a cash deposit of at least US$100,000 in a domestic or a foreign bank account for 12 months before applying for the visa.

High-income earners must have an average annual income of US$80,000 for the two years prior to applying for the visa.

The foreign specialists must produce an employment contract from a business in Thailand or abroad. They are also required to produce evidence that they have worked in the “targeted industries” for at least 5 of the 10 years prior to applying for apply the visa.

Exceptions are made for work in Thai state universities, government research institutes, specified state training institutes or for those who have a PhD.

https://www.thaipbsworld.com/thailands-long-term-high-potential-resident-visa-fee-to-be-halved-to-50000/#:~:text=Thailand's cabinet decided to cut,Deputy Government Spokesperson Rachada Dhnadirek.

Thanks for your reply but it is still not clear if, the following means a bank in Thailand or in our own country?

"....or a cash deposit of at least US$100,000 in a domestic or a foreign bank account for 12 months before applying for the visa."

 

 

[Tim_Melb]

3 hours ago, Dragan said:

Is this announced in the Royal Gazette already?

No

[cowslip]

So does the visa include a work permit for digital nomads?

Edited May 13, 2022 by Khunwilko

[JamesR]

5 minutes ago, Khunwilko said:

So does the visa include a work permit for digital nomads?

No one know yet I think is the answer, still ongoing. 

[SamuiHouston]

People are mixing things.  The $100 K is in lieu of insurance.

The original details said you would get taxed at 18% and you needed income of I think $40 K.  So think of it as $7 K per year for the visa ($70 K total).  Compare this to Thai Elite at $30 k or so for 20 years.  This does allow you to legally be a digital nomad or work in Thailand so maybe some will see a benefit.  Additionally you can get your family in on it.  

It seems pretty break even vs the Elite visa to me though.