Thailand will extend the period of stay of tourists in the country and introduce a “Golden Visa”

Thailand will extend the period of stay of tourists in the country and introduce the Golden Visa

The free stay extension is part of an effort to boost Thailand's tourism economy after it was almost completely destroyed by COVID-19.

In addition to tourist visa extensions, Thailand is introducing the Golden Visa Program, allowing foreigners to stay in the country for an extended period of time — up to 10 years — but subject to several conditions.

The new rules for the stay of tourists in Thailand will come into force on 1 October. They will allow citizens of 65 countries to stay in the country for 45 days, instead of the current 30, without any effort on their part.

Currently, the program only runs until March 31, 2023, after which Thailand hopes for a full recovery tourism industry.

A new 45-day visa validity period will be automatically added during the border crossing. And in April next year, judging by today's documents, the deadline is also “automatic” will return to 30 days.

Thai's New Golden Visa

Starting September 1, 2022, Thailand will accept long-stay residence visa applications in their new program. They call it the “Golden Visa” due to the applicant's solvency requirements.

The new LTR visa will be valid for 10 years and will allow multiple entries and exits. It allows the applicant to work in Thailand, moreover, the visa holder can bring up to four dependents with him for the duration of his stay.

To get a “long-term” visa, several requirements must be met in addition to the $1,600 visa fee.

For the wealthy. Applicant must have:

At least USD 1 million in assets.

Verified annual personal income of at least USD 80,000 for the last two years.

Investment of at least USD 500,000 in Thai government bonds, foreign direct investment or Thai property.

< p>Retirees:

This option is suitable for retirees aged 50 and over who have an annual pension or a stable income.

Applicant must have:

A personal income of at least $80,000 per year at the time of application.

In case of personal income below $80,000 per year (but not less than $40,000 per year), applicants must have at least $250,000 investment in Thailand.

For remote workers from Thailand:

This is intended for remote workers working in “well-established” overseas companies.

For the last two years, annual income must be at least $80,000.

In case of annual income below $80,000 (but not less than $40,000 per year) Applicants must have a master's degree or above in the last two years, own intellectual property or be funded.

The current employer of the applicant must be a publicly traded company on the stock exchange or a private company that has been in existence for at least three years, with gross income at least $150 million over the past three years.

Applicant must have at least five years of work experience in the current occupation over the past 10 years.

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